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HomeMy WebLinkAbout1979 CAFRCITY OF ST. ANTHONY, MINNESOTA FINANCIAL STATEMENTS DECEMBER 31, 1979 CITY OF ST. ANTHONY MINNESOTA ELECTED AND APPOINTED OFFICIALS DECEMBER 31, 1979 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 TM 1980 1980 1982 1982 CITY OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS SECTION I INTRODUCTORY SECTION Page Comments I SECTION II FINANCIAL SECTION Accountants' report 1 II -A. General Purpose Financial Statements Combined balance sheet - all fund types 2 Combined statement of revenue, expenditures and fund balance - all governmental fund types 4 Combined statement of revenue, expenditures and fund balance - budget and actual - general and special revenue fund types 6 Combined statement of income, expenses and retained earnings - all proprietary fund types 8 Combined statement of changes in financial position - all proprietary fund types 10 Notes to financial statements 12 II -B. Combining and Individual Fund Statements General Fund Balance sheet 17 Statement of changes in fund balance 17 Statement of revenue 18 Statement of expenditures 20 Special revenue funds Combining balance sheet 24 Combining statement of revenue, expenditures and fund balance 26 Statements of revenue, expenditures and fund balance General Reserve Fund 28 Community Development Fund 28 State -aid Maintenance Fund 29 CETA Fund 29 Revenue Sharing Fund 30 Special Fire Fund 31 Special Police Fund 31 Capital projects funds Combining balance sheet 32 Combining statement of revenue, expenditures and fund balance 32 CITY OF ST. ANTHONY, MINNESOTA TABLE OF CONTENTS (CONTINUED) II -B. Combining and Individual Fund Statements Page Special assessment funds Combining balance sheet 33 Combining statement of revenue, expenditures and fund balance 34 General Debt Service Fund Balance sheet 35 Statement of revenue, expenditures and fund balance 35 Investment Fund Balance sheet 36 Statement of income and retained earnings 36 Statement of changes in financial position 36 Liquor Fund Balance sheet 37 Statement of income and retained earnings 38 Statement of changes in financial position 39 Statement of gross profit 40 Statement of operating expenses 41 Utility funds Combining balance sheet 42 Statement of changes in retained earnings and contributions Water Operating Fund 46 Sewer Operating Fund 46 Combining statements of income and expense - Operating funds 47 Combining statements of changes in financial position - Operating funds 48 Statement of income and retained earnings - Water Construction Fund 49 Statement of changes in financial position - Water Construction Fund 49 SECTION III STATISTICAL SECTION Statement of cash, temporary investments and security for deposits 51 Bonds payable - all funds 52 Debt service requirements - all funds 53 Combined schedule of indebtedness 54 Tax levies and collections 56 Special assessment levies and collections 56 Assessed valuations, tax levies and mill rates 57 Surety bonds 57 SECTION I INTRODUCTORY SECTION 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 managgr 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 $81,350 during 1979 and increased the fund balance to $336,550 at December 31, 1979. A condensed summary of revenue and expenditures compared with the budget for 1979 is shown below. SPECIAL REVENUE FUNDS 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 1979 1978 Budget Actual Actual Revenue and other sources General property taxes $ 413,231 $ 407,937 $ 443,330 Licenses and permits 13,500 20,962 26,563 Intergovernmental revenue 304,442 314,939 275,508 Fines, forfeitures and penalties 20,000 21,580 24,294 Charges for current services 2,000 1,828 2,529 Other revenue 19,644 58,923 29,294 Transfers from other funds 420,000 401,367 434,230 51.192.817 51.227.536 51.235.748 Expenditures and other uses General government $ 249,142 $ 204,211 $ 204,894 Public safety 634,329 623,017 477,709 Public works 234,942 229,006 207,415 Health, sanitation and waste waste removal 18,050 17,851 18,385 Park maintenance 12,625 11,906 22,221 Other functions 62,582 60,195 170,646 Transfers to other funds 3,821 51.211.670 51.146 186 51.105.091 SPECIAL REVENUE FUNDS 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 1979 expenditures consisting of improvement costs and assessment cancellations exceeded revenue, primarily assessment collections and interest,by $26,342. The fund balance was $312,057 at December 31, 1979. 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, 1979, 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 1979 were for commodities to repair and maintain City streets. The fund balance at December 31, 1979 was $14,238. 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 $6,328 at December 31, 1979. Revenue Sharing Fund - This fund was established to account for revenue received from the Federal Governnent in accordance with the "State and Local Fiscal Assistance Act of 1972." Expenditures can be made from the Fund only as outlined the Act. The City's share of the Federal Revenue Sharing Grant for 1979 was $43,055. During 1979, $55,000 was transferred to the General Fund. Special_Fire 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 1979, $14,338 was received from the State of Minnesota for insurance premium taxes. $8,000 was transferred to the General Fund. As of December 31, 1979 the fund balance was $30,200. Special Police 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 1979 was $22,349 and $15,000 was transferred to the General Fund. The fund balance was $56,165 at December 31, 1979. 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. 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 $214,015, from the State of Minnesota, is the City's unencumbered construction allotment balance at December 31, 1979. This allotment is available only for approved projects. Capital Improvement Fund - This fund was established to account for purchases of capital outlay items to be used by the City's maintenance department. Transfers from the General Fund and the sale of equipment will finance these acquisitions. No expenditures were made in 1979 and the fund balance of $9,984 at December 31, 1979 is available for acquisition of capital outlay items. 11 L_ M 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 - This account was established to provide temporary financing of construction projects. 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, 1979 these certificates were completely retired and the fund balance of $4,177 was unappropriated. 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 1979, 1978 and 1977. Sales Cost of sales 1979 Percent of sales $2,457,970 100.00 1,477,485 60.11 1978 Percent of sales $2,284,541 100.00 1,379,413 60.38 1977 Percent of sales $2,062,428 100.00 1,256,670 60.93 Gross profit $ 980,485 39.89 $ 905,128 39.62 $ 805,758 39.07 Operating expense 593,269 24.14 548,824 24.02 506,382 24.55 Operating income Other income less other expense Net income $ 387,216 15.75 $ 356,304 15.60 $ 299,376 14.52 42,681 1.74 36,369 1.59 23,965 . 1.16 429.897 17.49 1--122 .673 17.19 $323.341 15.68 1979 1978 1 Percent Percent of net of net income income Transfers to other funds $ 300.000 Equivalent mill rate of transfers 7.16 69.78 $ 275,000 70.03 $ 275.000 III om Percent of net 85.05 UTILITY FUNDS Water Operating Fund - This fund accounts for the operations of the City -owned water system. The fund had income of $3,289 in 1979. Sewer Operating Fund - This fund accounts for the operations of the City -owned sewer system. The fund had a net loss of $34,959 in 1979. 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 issuing disposal charges from the Commission. The amount payabl::: by the Commission in future years of $123,160 is included as a receivable on the balance sheet. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: Net income (loss) $( 34.959) S 21.200 $ 18.573 Operating expenses for 1979 include disposal charges of $175,783 as compared with $162,277 and $157,266 in 1978 and 1977 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. The balance of the fund was closed into the Water Operating Fund in 1979. IV 1979 1978 1977 Water Operating Fund Operating income $ 152,012 $ 159,463 $ 163,621 Operating expenses (excluding depreciation) (132,574) (109,141) (107,385) Other income and (expense) 15,412 16,065 9,093 Income before depreciation $ 34,850 $ 66,387 $ 65,329 Depreciation (non -contributed assets only) _(_L1 ,561) ( 29,330) ( 25,327) Net income S 3.289 1-27 .0 5—Z $40.002 Sewer Operating Fund Operating income $ 195,268 $ 195,872 $ 206,062 Operating expenses (excluding depreciation) (243,544) (208,308) (196,874) Other income and (expense) 17,809 37,170 12,261 Income (loss) before depreciation $( 30,467) $ 24,734 $ 21,449 Depreciation (non -contributed assets only) ( 4,492)3 534 ��) ( 2,876) Net income (loss) $( 34.959) S 21.200 $ 18.573 Operating expenses for 1979 include disposal charges of $175,783 as compared with $162,277 and $157,266 in 1978 and 1977 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. The balance of the fund was closed into the Water Operating Fund in 1979. IV SECTION II FINANCIAL SECTION GEORGE M. HANSEN COMPANY Certified Public Accountants SOUTH PLAZA BUILDING MINNEAPOLIS. MINNESOTA 55416 ACCOUNTANTS' REPORT Honorable City Council City of St. Anthony, Minnesota We have examined the financial statements of the various fund types of the City of St. Anthony for the year ended December 31, 1979, listed in Section II -A of the foregoing table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The City has not maintained a record of its general fixed assets, and accordingly a statement of general fixed assets, required by generally accepted accounting principles, is not included in the financial report. In our opinion the accompanying financial statements present fairly the financial position of the various fund types of the City of St. Anthony, Minnesota at December 31, 1979, and the results of operations of such fund types and the changes in financial position of the proprietary fund types 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 statements and schedules listed in Section II -B of the foregoing table of contents are not necessary for a fair presentation of the financial statements, but are presented as additional analytical data. The supplemental statements and schedules have been subjected to the tests and other auditing procedures applied in the examination of the financial statements listed in the foregoing table of contents and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. Our examination did not include the statistical information presented in Section III. May 19, 1980 2 CITY OF ST. ANTHONY, MINNESOTA COMBINED BALANCE SHEET - ALL FUND TYPES DECEMBER 31, 1979 ASSETS Cash and temporary investments Petty cash and change funds Cash with paying agents Accounts receivable Accrued interest receivable Due from other funds Taxes receivable Unremitted Delinquent Allowance for delinquent taxes receivable Special assessments receivable Unremitted Delinquent Deferred Prepaid expense Inventories, at lower of cost or market Property, plant and equipment, at cost less accumulated depreciation Total assets LIABILITIES AND FUND EQUITY Liabilities Accounts payable Contracts payable Due to other funds Deposits payable Accrued liabilities Deferred revenue Bonded indebtedness Matured bonds and interest Future bond maturities Total liabilities Fund equity Contributed Retained earnings Fund balance Appropriated Unappropriated Total fund equity Total liabilities and fund equity Governmental Fund Types Special Capital Special General Revenue Project Assessment Fund Funds Funds Fund $ 375,766 $ 449,824 $ 35,178 $ 550,938 100 551 8,640 14,050 214,502 3,911 3 10,212 10 ( 10,212) ( 10) 1,420 4,106 9,285 128 2,681 489,222 S 388.545 S 470.661 $ 13,590 $ 2,665 38,405 $ 51,995 $ 336,550 $ 336,550 ,L 388.545 See accompanying notes to financial statements. $ 2,665 $ 29,569 438,427 $ 467,996 S 470.661 S 249.680 S1.051.419 $ 140 4,214 551 815,000 $ 819,905 $ 214,015 $ 186,020 35,665 45,494 $ 249,680 $ 231,514 $ 249.680 S1.051.419 General Debt Service Fund $ 4,176 S 4 177 Investment Fund $ 30,954 Proprietary Fund Types Enterprise Fund Types Liquor Utility Fund Funds $ 124,025 $ 195,626 85,175 22,215 210 4,575 232,360 55,866 8,898 298,295 1,683 435,578 1,776,228 $ 30,954 $1,003,514 $2,215,005 Total memorandum only) 1979 1978 $1,735,533 $1,681,681 85,275 84,275 761 87,840 474,127 571,647 30,954 22,215 68,984 3,915 4,284 10,232 4,903 ( 10,232) ( 4,903) 1,420 1,944 13,391 9,133 492,031 605,242 64,764 49,105 299,978 272,156 2,211,806 2,136,223 $5,413.955 15.594,729 $ 106,716 $ 3,918 $ 127,029 $ 107,334 7,103 11,317 47,563 68,984 47,143 47,143 44,843 34,419 5,537 78,361 61,570 $ 30,954 123,160 154,114 126,863 210 761 87,840 815,000 965,000 $ 30,954 $ 141,135 $ 187,071 $1,233,725 $09,997 $1,300,878 $1,300,878 $1,315,084 $ 862,379 727,056 1,589,435 1,513,208 429,604 452,834 860,313 803,606 $ 862,379 $2,027,934 $4,180,230 $4,084,732 $ 30,954 $1,003,514 $2,215,005 $$5,413,955 15,594,729 3 4 CITY OF ST. ANTHONY, MINNESOTA COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1979 Revenue General property taxes Licenses and permits Intergovernmental revenue Fines and forfeitures Charges for current services Other revenue Total revenue Other sources Transfers from other funds Total revenue and other sources Expenditures General. government Public safety Public: works Health, sanitation and waste removal Park and recreation Improvement costs Debt service Principal Interest and service charges Unallocated expenditures Total expenditures Other uses Transfers to other funds Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 See accompanying notes to financial statements. General Fund $ 407,937 20,962 314,939 21,580 1,828 58,923 $ 826,169 401,367 $1,227,536 $ 204,211 623,017 229,006 17,851 11,906 60,195 $1,146,186 $1,146,186 $ 81,350 255,200 $ 336,550 Special Revenue Funds Capital Project Funds $ 126,817 $ 79,827 51,292 4,428 $ 178,109 $ 84,255 $ 178,109 $ 84,255 $ 6,328 94.033 $ 100,361 79,367 $ 179,728 $( 1,619) 469,615 $ 467,996 Special Assessment Fund $ 37 69,342 $ 69,379 General Total Debt Service (memorandum only) Fund 1979 1978 $ 2,775 $ 2,775 $ 69,379 $ 2,775 $ 121,784 $ 21,549 $ 121,784 $ 121,784 $( 37,529) 287,209 S 249.680 40,994 18,313 $ 80,856 $ 80,856 $( 11,477) 242,991 S 231,514 $ 23 $ 23 23 2,752 1,425 $ 4,177 $ 407,974 20,962 521,583 21,580 1,828 186.760 $1,160,687 401,367 $1,562,05_4 $ 204,211 623,017 235,334 17,851 11,906 143,333 40,994 172,564 $1,449,210 79,367 $1,528,577 $ 33,477 1,256,440 $1,289,917 5 $ 453,240 26,563 539,584 24,294 2,529 163.057 $1,209,267 871,954 $2,081,221 $ 204,894 478,223 222,243 18,385 22,221 109,111 10,000 47,260 248.199 $1,360,536 560,889 $1,921,425 $ 159,796 1,096,644 51,256,440 N CITY OF ST. ANTHONY, MINNESOTA See accompanying notes to financial statements. General Fund Budget Actual Revenue General property taxes $ 413,231 $ 407,937 Licenses and permits 13,500 20,962 Intergovernmental revenue 304,442 314,939 Fines and forfeitures 20,000 21,580 Charges for current services 2,000 1,828 Other revenue 19,644 58,923 Total revenue $ 772,817 $ 826,169 Other sources Transfers from other funds 420,000 401,367 Total revenue and other sources $1,192,817 $1,227,536 Expenditures General government $ 249,142 $ 204,211 Public safety 634,329 623,017 Public works 234,942 229,006 Health, sanitation and waste removal 18,050 17,851 Park and recreation 12,625 11,906 Unallocated expenditures 62,582 60,195 Total expenditures $1,211,670 $1,146,186 Other uses Transfers to other funds Total expenditures and other uses $1,211,670 $12146,186 Net increase (decrease) in fund balance $( 18.853) $ 81,350 Fund balance January 1 255,200 Fund balance December 31 $ 336,550 See accompanying notes to financial statements. $ 73,575 $ 8,000 $ 8,000 420,000 401,367 $ 178,109 $1,266,392 $1,405,645 $ 249,142 $ 204,211 634,329 623,017 $ 6,328 242,942 235,334 18,050 17,851 12,625 11,906 94,033 62,582 1542228 $ 100,361 $1,219,670 $1,246,547 78,000 79,367 $ 86,000 $ 179,728 S( 12,425) $( 1,619) 469,615 $ 467,996 L 78,000 Total Special Revenue Funds (memorandum only) Budget Actual Budget Actual $ $ 413,231 $ 407,937 13,500 20,962 $ 73,575 $ 126,817 378,017 441,756 20,000 21,580 2,000 1,828 51,292 19,644 110,215 $ 73,575 $ 178,109 $ 846,392 $1,004,278 $ 73,575 $ 8,000 $ 8,000 420,000 401,367 $ 178,109 $1,266,392 $1,405,645 $ 249,142 $ 204,211 634,329 623,017 $ 6,328 242,942 235,334 18,050 17,851 12,625 11,906 94,033 62,582 1542228 $ 100,361 $1,219,670 $1,246,547 78,000 79,367 $ 86,000 $ 179,728 S( 12,425) $( 1,619) 469,615 $ 467,996 L 724,815 $ 804,546 7 78,000 79,367 $1,297,670 $1,325,914 $te( 31,278) $ 79,731 724,815 $ 804,546 7 U CITY OF ST. ANTHONY, MINNESOTA Sales and cost of sales Sales Cost of sales Gross profit Operating income User charges Connection charges Other Operating income Total gross profit and operating income Operating expenses Personal services Contractual services Commodities Other charges Disposal charges Depreciation Operating expenses Operating income (loss) Other income and (expense) Interest earned Commissions Checking cashing income less expense Credits received Refunds received Miscellaneous income Interest expense Loss on disposal of assets Miscellaneous expense Interest apportioned to other funds Total other income and (expense) Net income Credit from transfer of depreciation to contributions in aid to construction Transfer (to) from Water Construction Fund Transfers to General Fund Retained earnings January 1 Retained earnings December 31 See accompanying notes to financial statements. Investment Fund $ 136,055 ( 136,055) $ -0- $ -0- -0- -0- _ Enterprise Funds Liquor Utility Funds Fund Operating Construction $2,457,970 1,477,485 $ 980,485 $ 980,485 $ 382,679 80,381 26,418 75,209 28,582 $ 593,269 $ 387_,216 $ 6,546 17,765 20,084 54 ' ( 1,768) $ 42,681 $ 429,897 ■. ■. ( 300,000) 732,482 $ 862,379 $ 343,353 3.927 $ 347,280 $ 347,280 $ 92,256 52,289 19,601 36,189 175,783 79,828 $ 455,946 $( 108,666) $ 14,232 8,778 9,031 2,355 ( 781) ( 394) $ 33,221 $( 75,445) 43,775 61,530 ( 22,000) 719,196 $ 727,056 Total (memorandum onl $ 75,902 $ 94,018 $ 354,452 $ 411,569 43,775 43,775 $( 61,530) -0- 7,980 ( 322,000) ( 295,000) 61,530 1,513,208 1,344,884 S -0- $1,589,435 51,513.208 E 1979 1978 $2,457,970 $2,284,541 1,477,485 1,379,413 $ 980,485 $ 905,128 $ 343,353 $ 349,785 3,072 3,927 2,478 $ 347,280 $ 355,335 $1,327,765 $1,260,463 $ 474,935 $ 440,189 132,670 109,890 46,019 40,335 111,398 87,595 175,783 162,277 108,410 102,626 $1,049,215 $ 942,912 $ 278,550 $ 317,551 $ 20,778 $ 26,508 17,765 17,840 20,084 18,385 8,778 8,778 9,031 23,206 2,409 4,963 ( 781) ( 2,730) ( 394) ( 1,107) ( 1,768) ( 1,825) $ 75,902 $ 94,018 $ 354,452 $ 411,569 43,775 43,775 $( 61,530) -0- 7,980 ( 322,000) ( 295,000) 61,530 1,513,208 1,344,884 S -0- $1,589,435 51,513.208 E 10 CITY OF ST. ANTHONY, MINNESOTA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1979 Source of funds Operations Net income (loss) Depreciation Loss on disposal of assets Transfer from Water Construction Fund Transfer from General Reserve Fund Increase in meter deposits Reduction of long-term receivable Assets contributed from other funds 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 working capital Various elements of net increase (decrease) in working capital Cash and temporary investments Petty cash and change funds Cash with paying agent Accounts receivable Accrued interest receivable Due from other funds Prepaid expense Inventories Accounts payable Matured bonds and interest Current portion of long-term debt Accrued liabilities Due to Metropolitan Waste Control Commission Due to other funds Deferred revenue Increase (decrease) in working capital See accompanying notes to financial statements. Investment Fund $ -0- $ 30,954 30,954) -0- 11 Enterprise Funds Total Liquor Utility Funds (memorandum only) Fund Operating Construction 1979 1978 $ 429,897 $ 3,289 $( 34,959) $ 398,227 $ 455,344 28,582 31,561 4,492 64,635 58,851 297 604 901 901 $ 458,776 $ 35,454 $( 30,467) $ 463,763 $ 515,096 61,530 61,530 7,980 2,300 2,300 2,965 4,390 4,390 4,421 29,569 29,569 40,997 40,997 983 S 458,776 S 99,284 S 44.489 S 602,549 S 531,445 $ 300,000 $ 12,000 $ 10,000 $ 322,000 $ 295,000 72,180 81,929 30,786 184,895 112,778 25,000 3,703 3,703 3,561 86,596 5,355 91,951 95,106 L455,776 S 99,284 $ 44,489 S 602,549 531,445 $ 75,951 $( 4,908) $( 32,000) $ 39,043 $( 45,256) 1,000 1,000 7,000 ( 25,290) ( 25,290) ( 500) ( 361) 1,867 ( 10,879) ( 9,373) 5,356 30,954 ( 9,412) ( 633) ( 10,045) 10,045 16,016 375 ( 732) 15,659 21,969 27,631 191 27,822 16,593 ( 25,992) 257 ( 49) ( 25,784) ( 9,563) 25,290 25,290 500 25,000 251000 25,000 ( 7,649) ( 912) < 950) ( 9,511) ( 1,325) 8,688 ( 7,103) 4,246 ( 2,857) 55,616 ( 30,954) S 86,596 S 5.355 $( 40,997) S 50,954 S94,123 12 CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1979 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 received in the Investment Fund. Interest earnings are allocated to the other City funds on the basis of average cash balances. Investments are stated at cost, which approximates market. 13 CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1979 Note 1 - Summary of Significant Accounting Policies (Continued) Inventories - Inventories held by the proprietary funds (Liquor and 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. Property, plant and equipment - The property, plant and equipment of the proprietary funds (Liquor and 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 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. The following is a summary of the property and equipment and the related estimated useful lives at December 31, 1979: Land Land and improvements Building and structures Machinery and equipment Furniture and fixtures Distribution and collection system Construction in progress 1,388,809 76,842 5724 771 52.233.426 992,818 15-50 29,569 $1.098.669 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 utility funds 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. L_ Water Sewer Liquor Operating Operating Fund Fund Fund Years $ 2,232 $ 2,000 $ 3,645 17,191 5,006 20 459,817 665,202 9,000 15-40 221,326 95,567 63,637 4-20 24,205 5-15 1,388,809 76,842 5724 771 52.233.426 992,818 15-50 29,569 $1.098.669 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 utility funds 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. L_ 14 CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1979 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 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. 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. Note 5 - Bonded Debt The City has one type of bonded debt outstanding at December 31, 1979. That is special assessment improvement bonds. These bonds are payable primarily from special assessments with any deficiency to be provided for by general property taxe.,. The long-term debt outstanding at year-end is summarized as follows: Maturities Interest rates Amount Special assessment improvement bonds 1980-1990 4.25-4.90%$815.000 The following is a summary of the outstanding obligations and changes during 1979: Outstanding January 1 Issued Special assessment improvement bonds $940,000 Water revenue bonds 25,000 965 000 $ -0- Note 6 - Retirement Plan Outstanding Redeemed December 31 $125,000 25,000 150 000 $815,000 -0- 815 000 The City participates in a state-wide contributory prension 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 $91,186 for the year ended December 31, 1979. 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. IM CITY OF ST. ANTHONY. MINNESOTA NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1979 Note 7 - Vacation and Sick Leave 15 Accrued vacation and sick leave are not recorded as liabilities at December 31, 1979. 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, 1979 was not determined. Note 8 - Litigation The City had the usual and customary types of miscellaneous claims pending at year end, mostly of a minor nature and usually all covered by insurance carried for that purpose. The City also carries personal injury insurance against suits for false arrest, libel, slander, violation of privacy, wrongful entry, etc., which suits can arise from enforcement of the City code and general laws. Note 9 - Lease The City leases space for the Apache Liquor store. The lease, expiring November 1980 requires annual rentals of $15,990 plus the pro rata share of common center expense. Note 10 - Deficiency in Pledged Collateral Minnesota statutes require depositories for City funds to pledge collateral to secure balances in excess of F.D.I.C. or F.S.L.I.C. insurance coverage. At December 31, 1979 the collateral pledged by Midwest Federal was approximately $50,000 below the statutory requirement. L CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND BALANCE SHEET DECEMBER 31, 1979 AND 1978 LIABILITIES AND FUND BALANCE Liabilities Accounts payable 1979 1978 ASSETS 38,405 29,431 Cash and temporary investments $375,766 $278,695 Petty cash and change funds 100 100 Accounts receivable 8,640 11,130 Accrued interest receivable 22,215 Due from other funds 74 Community Development Fund 1,500 General Debt Service Fund 6,146 Taxes receivable 633 Unremitted 3,911 4,185 Delinquent 10,212 4,791 Allowance for delinquent taxes receivable (10,212) ( 4,791) Deferred special assessments receivable 128 $323,971 Total assets $388,545 323 971 LIABILITIES AND FUND BALANCE Liabilities Accounts payable $ 13,590 $ 16,837 Accrued liabilities 38,405 29,431 Due to other funds General Reserve Fund 2,749 State -aid Maintenance Fund 92 Special Police 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 Total liabilities $ 51,995 $ 68,771 Fund balance - Unappropriated $336,550 $255,200 Total liabilities and fund balance $388,545 $323,971 STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1979 AND 1978 Revenue and other sources 1979 Budget Actual $1,192,817 $1,227,536 Expenditures and other uses 1,211,670 1,146,186 Net increase (decrease) in fund balance $( 18,853) $ 81,350 Fund balance January 1 255,200 255,200 Fund balance December 31 $ 236,347 $ 336,550 See accompanying notes to financial statements. L 1978 Actual $1,235,748 1,105,091 $ 130,657 124,543 1 --Zia ,200 17 M CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES YEARS ENDED DECEMBER 31, 1979 AND 1978 See accompanying notes to financial statements. 1979 1978 Budget Actual Actual General property taxes Taxes $ 388,958 $ 432,106 Fiscal disparities distribution 13,522 8,786 $ 411,431 $ 402,480 $ 440,892 Tax forfeit sale 3,934 847 Penalties and interest on taxes 1,800 1,523 1,591 413,231 $ 407,937 $ 443,330 Licenses and permits Licenses $ 8,500 $ 8,048 $ 8,011 Permits 5,000 12,914 18,552 $ 13,500 $ 20,962 $ 26,563 Intergovernmental revenue State property tax relief fund - Homestead credit $ 69,106 $ 69,106 $ 75,314 Local government aid 231,880 231,880 177,208 Attached machinery aid 1,087 1,202 Other state grants and aid Police - Training reimbursement 306 3,056 Civil defense 3,512 2,555 Dutch elm 873 2,742 County aid Aid to municipalities 873 918 Street maintenance 3,456 1,648 4,232 Metro Council Section 8 Housing Grant 5,134 4,909 Planning Assistance Grant 3,372 Other 520 $ 304,442 $ 314,939 $ 275,508 Fines, forfeitures and penalties $ 20,000 $ 21,580 $ 24,294 Charges for current services $ 2,000 $ 1,828 $ 2,529 See accompanying notes to financial statements. 19 CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEARS ENDED DECEMBER 31, 1979 AND 1978 See accompanying notes to financial statements. l-' 1979 1978 Budget Actual Actual Other revenue Interest earned $ 500 $ 34,297 $ 6,113 Rental of property 4,420 4,220 Special assessments 217 81 Sale of property and equipment 1,564 Other 18,000 5,074 3,885 Refunds and reimbursements Independent School District No. 282 Labor and commodities 1,144 5,430 4,417 Tennis court improvement 1,973 Community Services Program deficit 2,800 Administrative fee - Community Development Block Grant 4,242 1,500 Insurance claims and refunds 3,257 1,740 Other 1,986 1,001 $ 19,644 $ 58,923 "9,294 Total revenue $ 772,817 $ 826,169 $ 801,518 Other sources Transfers from other funds Home Improvement Grant Fund $ 229 Revenue Sharing Fund $ 55,000 89,030 Special Fire Fund 8,000 12,250 Special Police Fund 15,000 14,500 Liquor Fund 300,000 275,000 Water Operating Fund 12,000 24,221 Sewer Operating Fund 10,000 19,000 State Aid Maintenance Fund 1,367 Total other sources $ 420,000 $ 401,367 $ 434,230 Total revenue and other sources 51.192.817 51.227.536 51.235 748 See accompanying notes to financial statements. l-' 20 CITY OF ST, ANTHONY, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES YEARS ENDED DECEMBER 31, 1979 AND 1978 Manager Personal services 1979 44,325 1978 42,434 Budget. Actual Actual General government 2,175 2,144 Mayor and council 1,170 Other charges 43 Personal services $ 12,625 $ 12,672 $ 10,650 Contractual services 2,675 2,535 1,304 Commodities 60 55 40 Other charges 13,075 _ 6,526 26 28,554 $ 28,435 $ 21,788 $ 12,020 Manager Personal services $ 44,325 $ 42,434 $ 30,350 Contractual services Commodities 2,175 2,144 Other charges 1,170 Other charges 43 250 $ 15,750 248 $ 7,529 249 Other charges $ 46,750 $ 44,826 $ 31,769 Municipal court $ 40,575 $ 28,554 $ Personal services Independent accounting and audit $ 1,288 Contractual services Contractual services $ 4,500 $ 4,500 13,528 4,950 Legal - Contractual services $ 30,000 $ 24,367 $ 14,816 Elections Personal services $ 950 $ 740 $ 1,737 Contractual services 367 367 171 Commodities 150 69 128 Other charges 2,350 2,330 44 $ 3,817 $ 3,506 $ 2,080 Assessing Personal services $ 1,740 $ 1,988 $ 6,798 Contractual services 13,710 13,232 262 Commodities 300 426 Other charges 3,372 Commodities 43 4,300 $ 15,750 $ 15,220 $ 7,529 Accounting - Finance Personal services $ 25,975 $ 16,370 $ 21,531 Contractual services 6,300 4,044 3,372 Commodities 4,300 4,144 4,140 Other charges 4,000 3,996 3,377 $ 40,575 $ 28,554 $ 32,420 Independent accounting and audit Contractual services $ 4,500 $ 4,500 $ 4,950 Legal - Contractual services $ 30,000 $ 24,367 $ 13,504 See accompanying notes to financial statements. 21 TATEMENT CITY OF ST. ANTHONY, MINNESOTA GENERAL FUND .ES - ACTUAL COMPARED WITH BUDGET 9 RNDED DECEMBER 31, 1979 AND 19 1979 1978 Budget Actual Actual General government (Continued) Planning and zoning Contractual services $ 7,323 $ 5,956 $ 2,707 Commodities 150 109 23 Other charges 40 34 $ 7,513 $ 6,099 $ 2,730 General government buildings Personal services $ 15,980 $ 13,226 $ 11,702 Contractual services 53,422 40,049 38,061 Commodities 800 777 797 Other charges 1,167 Capital outlay 1,500 1,299 31,349 $ 71,702 $ 55,351 $ 83,076 Total general government $ 249,142 $ 204,211 $ 204,894 Public safety Police protection Personal services $ 317,910 $ 313,196 $ 238,033 Contractual services 14,096 10,520 5,240 Commodities 3,400 3,193 3,197 Other charges 210 266 190 Capital outlay 16,500 15,936 8,327 $ 352,116 $ 343,111 $ 254,987 Fire protection Personal services li0 $ 248,800 $ 249,728 $ 203,812 Contractual services 4,939 4,596 3,170 Commodities 3,0 2 934 4 3530 , Other charges 903 896 364 i Capital outlay 1,000 1,000 342 $ 258,642 $ 259,154 $ 212,041 Protective inspection Personal services $ 8,909 $ 8,756 $ 3,493 Contractual services 430 58 123 Commodities 25 139 Other charges 136 75 85 $ 9,500 $ 8,889 $ 3,840 Civil defense Personal services $ 9,161 $ 8,547 $ 4,351 'Contractual services 710 530 479 Commodities 150 150 90 Capital outlay 1,000 1,000 979 i.. $ 11,021 $ 10,227 $ 5,899 See accompanying notes to financial statements. 22 CITY OF ST. ANTHONY MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEARS ENDED DECEMBER 31, 1979 AND 1978 Contractual services 8,818 1979 4,405 1978 Budget Actual Actual Public safety (Continued) 740 384 Animal control Capital outlay Contractual services $ 3,000 $ 1,610 $ 919 Commodities 50 135,619 26 23 $ 3,050 $ 12636 $ 942 Total public safety $ 634,329 $ 623,017 $ 477,709 Public works 3,954 4,090 3,070 Engineering - Contractual services $ 2,000 $ 341 $ 488 Street maintenance Personal services $ 133,450 $ 130,233 $ 114,523 Contractual services 8,818 8,344 4,405 Commodities 16,300 16,238 12,240 Other charges 740 384 256 Capital outlay 4,195 $ 159,308 $ 155,199 $ 135,619 Maintenance garage Personal services $ 21,570 $ 21,239 $ 17,259 Contractual services 3,954 4,090 3,070 Commodities 30,710 30,452 23,421 Capital outlay 400 377 16,259 $ 56,634 $ 56,158 $ 60,009 Street lighting Contractual services $ 17,000 $ 17,308 $ 11,299 Total public works $ 234,942 $ 229,006 $ 207,415 Health, sanitation and waste removal Weed inspection and tree care Personal services $ 8,550 $ 8,916 $ 9,451 Contractual services 150 143 Commodities 1,100 1,097 3,681 Other charges 3,200 3,197 2,338 Capital outlay 700 689 675 $ 13,700 $ 14,042 $ 16,145 Storm sewer Contractual services $ 500 $ 456 $ 468 Commodities 3,725 3,233 1,250 Other charges 100 95 96 $ 4,325 $ 3,784 $ 1,814 Health Personal services $ 415 Contractual services $ 25 $ 25 11 $ 25 $ 25 $ 426 Total health, sanitation and waste control $ 18,050 $ 17,851 $ 18,385 See accompanying notes to financial statements. 23 CITY OF ST. ANTHONY MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) r YEARS ENDED DECEMBER 31, 1979 AND 1978 Park maintenance Personal services Commodities Other charges Capital outlay Merchandise for resale Total park maintenance Other functions Human relations Contingencies Insurance Pension contributions and employees' insurance Capital improvements Total other functions Total expenditures Other uses Transfer to Special Assessment Fund Construction Account Total expenditures and other uses 1979 1978 Budget Actual Actual $ 1,200 $ 746 $ 11,126 4,525 4,140 4,286 400 728 6,500 6,292 5,286 1.523 $ 12,625 $ 11,906 $ 22,221 $ 400 $ 5,786 50,000 $ 48,695 50,281 114,579 12,182 11,500 $ 62,582 $ 60,195 $ 170,646 $1,211,670 $1,146,186 $1,101,270 $ 3,821 51,211,670 51,146,186 x_;.05,091 See accompanying notes to financial statements. 24 CITY OF ST. ANTHONY, MINNESOTA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1979 AND 1978 ASSETS Cash and temporary investments (deficit) Accounts receivable Due from other funds General Fund Special Assessment Fund Special assessments receivable Unremitted Delinquent 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 Total liabilities Fund balance Appropriated. Unappropriated Total liabilities and fund balance See accompanying notes to financial statements. General Community Reserve Development Fund Fund $307,935 $( 2,497) 2,497 4,106 2,681 14 2 $ 2,665 2,665 $ 29,569 282,488 $312,057 314 722 S _0_ 25 State -aid Revenue Special Special Maintenance CETA Sharing Fire Police Combined Fund Fund Fund Fund Fund 1979 1978 $ 14,238 $ 5,368 $ 38,415 $ 30,200 $ 56,165 $449,824 $411,437 960 10,593 14,050 62,232 2,868 2,940 129 4,106 2.681 23.681 jk23a S 6,328 S 49,008 S 30,200 $ 56,165 $470,661 $503,287 $ 2,665 $ 5,054 1,694 1,500 25,419 5 2,665 $ 33,672 $ 29,569 $ 14,238 $ 6,328 $ 49,008 $ 30,200 $ 56,165 438,427 $469,615 $ 14,238 $ 6,328 $ 49,008 $ 30,200 $ 56,165 $467,996 $469,615 S 14.238 6 328 S 49 008 S 30.200 S 56,165 $470,661 5503,287 26 CITY OF ST. ANTHONY, MINNESOTA SPECIAL REVENUE FUNDS OF REVENUE, EXPENDITU. IED DECEMBER 31. 1979 , 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 Interest on assessments Other Total revenue Other sources Transfers from other funds State -aid Construction Fund Special Assessment Fund Total other sources General Community Reserve Development Fund Fund $ 8,823 $ 8,823 $ 1,846 20,475 1,894 3,490 838 $ 27,705 $ 9,661 Total revenue and other sources 27,705 9,661 ExpendLtures Public safety Fire protection - Capital outlay Public works Street maintenance - Commodities and contractual services Park and recreation - Improvement costs Other functions - Unallocated Cancellation of assessments Personal services Contractual services Commodities Employee benefits Administrative expenditures Improvement costs Total expenditures Other uses Transfers to other funds General Fund Special Assessment Fund Sewer Operating Fund Total other uses Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 See accompanying notes to financial statements. $ 18,222 $ 3,787 4,242 35,825 1,632 $ 54,047 $ 9,661 $ 54,047 $ 9,661 $(26,342) $ -0- 338,399 -0- $312,057 S--- 0 - See -0- 27 State -aid Revenue Special Special Maintenance CETA Sharing Fire Police Combined Fund Fund Fund Fund Fund 1979 1978 $ 8,823 $ 34,274 $ 2,954 337,392 $340,346 $ 9,9483$ 0,922 50,293 $ 19,127 30,553 $178,109 $548,805 $ 6,328 $ 514 $ 6,328 14,828 28,552 $ 30,272 30,272 72,050 18,222 $ 43,055 $ 26,098 43,055 43,967 $ 7,980 26,098 61,005 7,980 7,575 $ 13 4,372 5 38 15 $ 14,338 $ 22,349 36,687 33,368 $ 7,980 $ 30,272 $ 43,055 $ 14,338 $ 22,349 $126,817 $191,272 3,627 5,264 1,846 135 1,868 7,238 4,789 8,204 42,574 16,516 1,894 4,758 $ 6,328 650 30,312 13 4,978 536 $ 9,848 30,922 50,293 $ 19,127 $ 30,553 $178,109 $208,459 $ 2,954 337,392 $340,346 $ 9,9483$ 0,922 50,293 $ 19,127 30,553 $178,109 $548,805 $ 6,328 $ 514 $ 6,328 14,828 28,552 18,222 $ 26,098 26,098 61,005 572 $ 13 4,372 5 15 15 698 3,627 3,627 5,264 4,242 1,500 37,457 4,758 $ 6,328 $ 30,312 13 $100,361 $117,124 $ 1,367 $ 55,000 $ 8,000 $ 15,000 $ 79,367 $116,009 23 7,980 $ 1,367 $ 55,000 $ 8,000 15,000 $ 79,367 $124,012 $ 7,695 $ 30,312 55,013 $ 8,000 $ 15,000 $179,728 $241,136 $ 2,153 $ 610 $( 4,720) $ 11,127 $ 15,553 $( 1,619) $307,669 12,085 5,718 53,728 19,073 40,612 469,615 161,946 S 14 238 S 6,328 S 49 OOS $ 30,200 S 56,165 S467.996 S469,615 M CITY OF ST. ANTHONY, MINNESOTA GENERAL RESERVE FUND Wa See accompanying notes to financial statements. 1979 1978 Budget Actual Actual Revenue Budget Actual Assessment collections Actual $ 1,846 $ 135 Interest on assessments 1,894 Tax forfeit sales Federal grant - Community Development 3,490 Interest earned 8,823 20,475 8,875 Other sources Transfer from Special Assessment Fund 536 337,392 Total revenue and other sources $ _0_ $ 27,705 $346,402 Expenditures 34,810 Expenditures Cancellation of assessments $ 18,222 Improvement costs Contractual services 35,825 Other uses 3,787 Transfers to other funds Special Assessment Fund $ 23 Sewer Operating Fund 7,980 Total expenditures and other uses $ -0- 54,047 -8,003 Net increase (decrease) in fund balance $ -0- $(26,342) $338,399 Fund balance January 1 338,399 338,399 -0- Fund balance December 31 $338,399 312 057 338 399 See accompanying notes to financial statements. 1979 1978 Budget Actual Actual Revenue Federal grant - Community Development $ 8,823 $ 34,274 Other 838 536 Total revenue $ -0- $ 9,661 $ 34,810 Expenditures Contractual services $ 3,787 Improvement costs Tennis courts $ 20,171 Park shelter building 8,381 Senior citizens' center 2,652 Redevelopment planning 1,570 Community dining hall 536 Other 1,632 Administrative expenditures 4,242 1,500 Total expenditures $ -0- $ 9,661 $ 34,810 Net increase (decrease) in fund balance $ -0- $ -0- $ -0- Fund balance January 1 -0- -0- -0- Fund balance December 31 $ -0- $ See accompanying notes to financial statements. L L CITY OF ST. ANTHONY, MINNESOTA STATE -AID MAINTENANCE FUND 1. 1 See accompanying notes to financial statements. w 1979 1978 Budget Actual Actual Revenue State -aid maintenance allotment $ 7,575 $ 7,980 $ 7,575 Interest earned 1,868 1,077 Other sources Transfer from State -aid Construction Fund 2,954 Total revenue and other sources 7,575 $ 9,848 $ 11,606 Expenditures Commodities and contractual services $ 8,000 $ 6,328 $ 14,828 Other uses Transfer to General Fund 1,367 Total expenditures and other uses $ 8,000 $ 7,695 $ 14,828 Net increase (decrease) in fund balance $( 425) $ 2,153 $( 3,222) Fund balance January 1 12,085 12,085 15,307 Fund balance December 31 S 14 238 S 12,085 CETA FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31 1979 AND 1978 1979 1978 Budget Actual Actual Revenue Federal Grant - CETA $ 30,272 $ 72,050 Other 650 Total revenue $ _0_ $ 30,922 $ 72,050 Expenditures Personal services $ 26,098 $ 61,005 Contractual services 572 Commodities 15 698 Employee benefits 3,627 5,264 Total expenditures $ -O- $ 30,312 $ 66,967 Net increase (decrease) in fund balance $ -0- $ 610 $ 5,083 Fund balance January 1 5,718 5,718 635 Fund balance December 31 $ 5.718 5 6.328 $5,718 See accompanying notes to financial statements. w 30 CITY OF ST. ANTHONY, MINNESOTA 1"W&oIM 1. 1 Revenue Federal grant - U.S. Treasury Revenue Sharing grant Interest earned Total revenue Expenditures FUND 1979 Budget Actual $ 43,000 43,000 $ 43,055 7,238 50,293 Contractual services $ 13 Other uses Transfer to General Fund $ 55,000 55,000 Total expenditures and other uses $ 55,000 $ 55,013 Net increase (decrease) in fund balance $(12,000) Fund balance January 1 53,728 Fund balance December 31 41,728 See accompanying notes to financial statements. 1978 Actual $ 43,967 3,719 47,686 $ 5 89,030 $ 89,035 $( 4,720) $(41,349) 53,728 95,077 49 008 52,728 CITY OF ST. ANTHONY MINNESOTA SPECIAL FIRE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1979 AND 1978 r Revenue State aid - Insurance premium tax Interest earned Total revenue Expenditures Capital outlay Other uses Transfer to General Fund Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 1979 Budget Actual $ 8,000 $ 14,338 4,789 $ 8,000 $ 19,127 1_8,000 $ 8,000 $ 8,000 8,000 $ -0- $ 11,127 19,073 19,073 S 19,073 30 200 SPECIAL POLICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1979 AND 1978 1979 Budget Actual 1978 Actual $ 12,837 749 $ 13,586 $ 514 12.250 12,764 $ 822 18,251 1-19, 0 7 3 1978 Actual Revenue State aid - Insurance premium tax $ 15,000 $ 22,349 $ 20,531 Interest earned 8,204 2,096 Total revenue $ 15,000 $ 30,553 22,627 Expenditures Capital outlay $ -0- $ -0- Other uses Transfer to General Fund 15,000 15,000 $ 14,500 Total expenditures and other uses 15,000 $ 15,000 $ 14,500 Net increase (decrease) in fund balance $ -0- $ 15,553 $ 8,127 Fund balance January 1 40,612 40,612 32,485 Fund balance December 31 $ 40,612 56,165 S 40,612 L_ See accompanying notes to financial statements. L 31 32 CITY OF ST. ANTHONY, MINNESOTA CAPITAL PROJECT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1979 AND 1978 ASSETS Cash and temporary investments Account receivable - State of Minnesota Due from other funds General Fund State -aid Maintenance Fund Revenue Sharing Fund Special Assessment Fund Total assets FUND BALANCE Fund balance Appropriated Unappropriated Total fund balance State -aid Capital Construction Improvement Combined Fund Fund 1979 1978 $ 25,681 214,015 $ 9,497 487 $ 35,178 214,502 $239,696 $ 9.984 $249.680 $214,015 25,681 $2_39,696 9,984 $ 9.984 $214,015 35,665 $249,680 COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1979 AND 1978 Revenue State -aid construction allotment Interest earned Other revenue Total revenue Expenditures - Improvement costs Other uses Transfers to other funds State -aid Maintenance Fund Special Assessment Fund Total expenditures and other uses Net increase (decrease) in fund balance Fund balance January I Fund balance December 31 $ 79,827 2,748 _82,575 $121,784 $ 606 1,074 $ 1,680 $ 79,827 3,354 1.074 $ 84,255 $121,784 $121,784 $ -0- $121,784 $(39,209) $ 1,680 $(37,529) 278,905 8,304 287,209 $239.696 $ 9.984 $249.680 See accompanying notes to financial statements. $ 8,225 247,588 74 25,419 5 5.898 287 209 $247,588 39,621 28 209 $ 71,172 291 638 $ 72,101 $ 2,954 44,071 $ 47,025 $ 25,076 262,133 $287.209 33 CITY OF ST. ANTHONY, MINNESOTA SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1979 AND 1978 Fund balance Appropriated $ 21,637 $ 164,383 $ 186,020 Combined Unappropriated ( 9,045) Revolving Debt Service 37,745 1979 12,592 1978 ASSETS $ 242,991 Total liabilities and Cash and temporary investments $ 16,946 $ 533,992 $ 550,938 $ 634,720 Cash with paying agents 551 551 62,340 Taxes receivable Unremitted 3 3 17 Delinquent 10 10 Allowance for delinquent taxes ( 10) ( 10) Special assessessment receivable Unremitted 1,420 1,420 1,815 Delinquent 9,285 9,285 9,133 Deferred 489,222 489,222 581,561 Due from other funds General Fund 12,412 General Debt Service Fund 327 Total assets 16 946 $1,034,473 $1 051.419 $1 302.325 LIABILITIES AND FUND BALANCE Liabilities Accounts payable $ 140 $ 140 $ 593 Contracts payable 41214 4,214 47,563 Due to other funds General Reserve Fund 1,965 State -aid Maintenance Fund 975 State -aid Construction Fund 5,898 Bonds payable Matured bonds and interest 551 551 62,340 Future bond maturities 815,000 815,000 940,000 Total liabilities $ 4,354 $ 815,551 $ 819,905 $1,059,334 Fund balance Appropriated $ 21,637 $ 164,383 $ 186,020 $ 205,246 Unappropriated ( 9,045) 54,539 45,494 37,745 Total fund balance 12,592 $ 218,922 $ 231,514 $ 242,991 Total liabilities and fund balance $ 16,946 $1,034,473 $1,051,4i IL 302,325 See accompanying notes to financial statements. 34 CITY OF ST. ANTHONY, MINNESOTA SPECIAL ASSESSMENT FUND COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1979 AND 1978 Revenue General property taxes Interest on special assessments Interest earned New assessments Other Total revenue Other sources Transfers from other funds General Fund General Reserve Fund State -aid Construction Fund Special Assessment Fund Construction Account Debt Service Account Water Operating Fund Total revenue and other sources Expenditures Combined Revolving Debt Service 1979 1978 $ 37 $ 37 $ 471 39,832 39,832 51,349 $ 1,918 16,826 18,744 64,298 3,276 3,276 4,000 3,490 7,490 $ 5,918 $ 63,461 $ 69,379 $ 116,118 3,821 23 44,071 33,923 14,716 824 5,918 $ 63,461 $ 69,379 $ 213,496 Improvement costs $ 21,549 Interest on bonds Servi_c:e charges Reas:;essmeut costs Other Cancellation of special assessments_ Total expenditures $ 21,549 Other uses Transfers to other funds General. Reserve Fund Special Assessment Fund Revolving Account Construction Account Total expenditures and other uses $ 21,549 $ 21,549 $ 80,559 $ 40,863 40,863 46,576 131 131 213 3,454 3,454 $(11,477) 1,435 1,435 89 13,424 13,424 4,234 $ 59,307 $ 80,856 $ 131.,671 337,392 33,923 14,716 $ 59,307 $ 80,856 $ 517,702 Net increase (decrease) in fund balance $(15,631) $ 4,154 $(11,477) $(304,206) Fund balance January 1 28,223 214,768 242,991 547,197 Fund balance December 31 $_12,597 X218.922 $231,514 S 242 991 See accompanying notes to financial statements. CITY OF ST. ANTHONY, MINNESOTA GENERAL DEBT SERVICE FUND BALANCE SHEET DECEMBER 31, 1979 AND 1978 i1979 ASSETS Cash and temporary investments $ 4,176 Taxes receivable Unremitted 1 Delinquent 10 Allowance for delinquent taxes receivable 10) Total assets 4,177 LIABILITY AND FUND BALANCE Liability - Due to other funds General Fund Special Assessment Fund Fund balance - Unappropriated $ 4,177 Total liability and fund balance $ 4.177 STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1979 AND 1978 Revenue General property taxes State property tax relief fund - Homestead credit Interest earned Total revenue Expenditures Bond principal Interest on bonds Service charges Other Total expenditures Net increase (decrease) in fund balance Fund balance January 1 Fund balance December 31 See accompanying notes to financial statements. $ 2,775 $ 2,775 23 $ 23 $ 2,752 1,425 $ 4.177 1978 $ 7,816 82 112 112 ) S 7.898 $ 6,146 327 $ 6,473 1,425 7 898 $ 9,439 1,632 $ 11,071 $ 10,000 460 11 $ 10,471 825 S 1,425 35 36 CITY OF ST. ANTHONY, MINNESOTA INVESTMENT FUND BALANCE SHEET DECEMBER 31, 1979 ASSET Accrued interest receivable30 9.54 LIABILITY Liability - Deferred revenue 30,954 STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1979 Income Interest earned $136,055 Expense - Interest apportioned to other funds $136,055 Net income $ -0- Retained earnings January 1 -0- Retained earnings December 31 $ -0- STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 31. 1979 Funds provided - Operations - Net income $ -0- Funds applied - Working capital $ -0- Various elements of net change in working capital Accrued interest receivable $ 30,954 Deferred revenue (30,954) Increase in working capital $ -0- See accompanying notes to financial statements. 37 OF ST. ANTHONY. MINNESOTA LIQUOR FUND BALANCE SHEET DECEMBER 31, 1979 AND 1978 1979 1978 ASSETS CURRENT ASSETS Cash and temporary investments $ 124,025 $ 48,074 Petty cash and change funds 85,175 84,175 Accounts receivable 4,575 4,936 Inventories 298,295 270,664 Prepaid insurance 55,866 39,850 Total current assets $ 567,936 $ 447,699 PROPERTY, PLANT AND EQUIPMENT, at cost Land, building and improvements $ 479,241 $ 479,241 Furniture, fixtures and equipment 245,530 202,052 $ 724,771 $ 681,293 Less accumulated depreciation 289,193 289,016 $ 435,578 $ 392,277 Total assets $1,003,514 $ 839,976 LIABILITIES AND RETAINED EARNINGS CURRENT LIABILITIES Accounts payable $ 106,716 $ 80,724 Accrued liabilities Salaries 14,992 14,104 Payroll taxes 8,681 467 Sales and stadium taxes 10,746 12,199 $ 141,135 $__107,494 RETAINED EARNINGS $ 862,379 $ 732,482 Total liabilities and retained earnings 11,293 .5149 839.976 See accompanying notes to financial statements. tm CITY OF ST. ANTHONY, MINNESOTA LIQUOR FUND STATEMENT OF INCOME AND RETAINED EARNINGS YEARS ENDED DECEMBER 31, 1979 AND 1978 See accompanying notes to financial statements. 1979 1978 Percent Percent Store #1 Store #2 Total of sales Total of sales Sales $1,488,658 $969,312 $2,457,970 100.00 $2,284,541 100.00 Cost of sales 831,669 645,816 1,477, 485 60.11 1,379,413 60.38 Gross profit $ 656,989 $323,496 $ 980,485 39,89 $ 905,128 39.62 Operating expenses 371,238 222,031 593,269 24.14 548,824 24.02 Operating income $ 285,751 $101,465 $ 387,216 15.75 $ 356,304 15.60 Other income and expense Commissions $ 14,617 $ 3,148 $ 17,765 .72 $ 17,840 .78 Check cashing income 18,202 5,186 23,388 .95 20,983 .92 Check cashing expense ( 2,669) ( 635) ( 3,304) ( .13) ( 2,598) ( .12) Interest earned 3,273 3,273 6,546 .27 Miscellaneous income 54 54 1,969 .09 Miscellaneous expense ( 905) ( 863} ( 1,768) ( .07) ( 1,825) .08) $ 32,518 $ 10,163 $ 42,681 1.74 $ 36,369 1.59 Net income $ 318,269111 628 $ 429,897 17.49 $ 392,673 17.19 Retained earnings Balance January 1 $ 732,482 $ 614,809 Add: Net income 429,897 392,673 Deduct: Transfer to General Fund 300,000 ( 275,000) Balance December 31 $ 862,379 $ 732,482 See accompanying notes to financial statements. 39 CITY OF ST. ANTHONY MINNESOTA j LIQUOR FUND STATEMENT OF CHANGES IN F OANCIAL POSITION YEARS ENDED DECEMBER 31, 1979 AND 1978 1979 1978 SOURCE OF FUNDS Operations Net income for the year $ 429,897 $ 392,673 Items not requiring current outlay of fundis Depreciation 28,582 25,987 Loss on disposal of equipment 297 Total $ 458.776 $ 418.660 APPLICATION OF FUNDS Additions to property, plant and equipment $ 72,180 $ 56,582 Transfer to General Fund 300,000 275,000 Increase in working capital 86,596 87,078 Total S 458.776 $ 418.660 Various elements of net increase (decrease) in working capital Cash and temporary investments $ 75,951 $ 52,180 Petty cash and change funds 1,000 7,000 Accounts receivable ( 361) ( 13,838) Inventories 27,631 16,058 Prepaid insurance 16,016 13,464 Accounts payable ( 25,992) ( 16,390) Due to General Fund 30,000 Accrued liabilities ( 7,649) ( 1,396) Increase in working capital S 86.596 L-31 .O78 H See accompanying notes to financial statements. 1. M CITY OF ST. ANTHONY, MINNESOTA LIQUOR FUND STATEMENT OF GROSS PROFIT YEARS ENDED DECEMBER 31, 1979 AND 1978 Cost of Gross Percent Sales Sales Profit of sales Store No. 1 1979 Off sale Liquor $ 318,296 $245,670 $ 72,626 22.82 Wine 124,841 85,006 39,835 31.91 Beer 392,663 316,401 76,262 19.42 Other 26,666 12,775 13,891 52.09 On sale 570,609 157,600 413,009 72.38 Speakeasy 55,583 14,217 41,366 74.42 1978 $1 488.658 31 669 $656,989 44.13 1978 Off sale $ 320,220 $250,075 $ 70,145 21.91 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 51.354.623 0 277. $584,352 43.14 Store No. 2 1979 Off sale Liquor $ 318,652 $251,163 $ 67,489 21.18 Wine 133,839 89,565 44,274 33.08 Beer 306,384 246,393 59,991 19.58 Other 25,338 8,881 16,457 64.95 On sale 185,099 49,814 135,285 73.09 969.312 $323,496 33.37 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 See accompanying notes to financial statements. 41 CITY OF ST. ANTHONY, MINNESOTA LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEARS ENDED DECEMBER 31, 1979 AND 1978 See accompanying notes to financial statements. 1979 1978 Store fl Store #2 Total Total Bar wages $101,520 $ 41,237 $142,757 $139,444 Off sale wages 52,760 52,415 105,175 93,024 Custodians' wages 21,531 1,313 22,844 23,102 Managers' salaries 22,578 22,578 45,156 42,648 Bookkeepers' salaries 13,353 13,353 26,706 27,956 Employees' insurance 4,878 4,363 9,241 8,393 Pension contributions 18,3.87 12,089 30,476 32,040 Unemployment compensation 285 39 324 1,329 Personal services expense $235,292 $147,387 $382,679 $367,936 Laundry $ 4,170 $ 2,304 $ 6,474 $ 6,129 Bar supplies 5,136 1,397 6,533 5,876 Off sale supplies 3,444 2,694 6,138 5,635 Cleaning supplies 1,858 725 2,583 2,935 Office expense 1,068 1,061 2,129 3,365 Travel 1,284 1,277 2,561 2,478 Commodities expense 16,960 $ 9,458 $ 26,418 $ 26,418 Rent and leases $ 438 $ 17,589 $ 18,027 $ 18,005 Heat and fuel 3,113 1,253 4,366 3,699 Utilities 12,140 4,946 17,086 18,840 Telephone 796 1,031 1,827 1,963 Sanitation expense 900 895 1,795 1,718 Casualty and liability insurance 36,400 20,782 57,182 40,213 Repairs and maintenance 11,344 13,274 24,618 14,727 Depreciation 26,715 1,867 28,582 25,987 Occupancy expense $ 91,846 $ 61,637 $153,483 $125,152 Security service $ 1,491 $ 1,353 $ 2,844 $ 2,638 Advertising and decorating 917 1,134 2,051 1,502 Accounting, legal and licenses 1,302 1,062 2,364 2,028 Music service 23,430 -0- 23,430 23,150 Service expense $ 27,140 3,549 $ 30,689 $ 29,318 Total operating expense $371,238 $222,031 $593,269 1548,824 See accompanying notes to financial statements. 42 CITY OF ST. ANTHONY, MINNESOTA UTILITY FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1979 AND 1978 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 Dae from General Fund Cash with paying agent Total current assets Operating funds Water Sewer $ 229,574 $( 33,948) 36,792 48,550 12,883 5,528 3,370 1,683 210 $ 273,787 $ 30,855 PROPERTY, PLANT AND EQUIPMENT Land and improvements $ 7,006 $ 3,645 Distribution and collection system 1,388,809 992,818 Building and structures 665,202 9,000 Machinery and equipment 95,567 63,637 Construction in progress 76,842 29,569 $2,233,426 $1,098,669 Less accumulated depreciation 1,095,498 460,368 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. $1,137,928 $ 638,301 $ 147,017 12,883 $ 134,134 51.411.715 S 803,290 43 Water Construction Combined Fund 1979 1978 $ 195,626 $ 259,487 85,342 83,498 12,883 23,739 674,202 7,079 159,204 4,246 8,898 9,255 1,683 1,492 1,555,866 33,227 70 210 25,500 $ 304,642 $ 447,593 $ 10,651 $ 10,651 2,381,627 2,380,296 674,202 674,202 159,204 156,247 106,411 $3,332,095 $3,221,396 1,555,866 1,477,450 $1,776,229 $1,743,946 $ 147,017 $ 162,263 12,883 23,739 $ 134,134 $ 138,524 S -0- 52,215.005 52,330 063 44 CITY OF ST. ANTHONY, MINNESOTA UTILITY FUNDS COMBINING BALANCE SHEET (CONTINUED) DECEMBER 31, 1979 AND 1978 LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS CURRENT LIABILITIES Accounts payable Contract payable Matured bonds and interest Current portion of long-term debt Accrued liabilities Payroll and payroll taxes Interest Due to other funds Water Operating Fund Total current liabilities LONG-TER^K DEBT Water revenue bonds Less current portion included above Total long-term debt Operating funds Water Sewer $ 3,400 $ 7,103 210 3,133 518 2,404 $ 13,846 $ 2,922 OTHER LIABILITIES Meter deposits $ 47,143 Deferred gain on disposed of property and equipment - Metropolitan Waste Control Commission $ 123,160 Total other liabilities $ 47,143 Total liabilities $ 60,989 CONTRIBUTIONS IN AID TO CONSTRUCTION $ 745,172 RETAINED EARNINGS $ 605,554 Total liabilities, contributions and retained earnings 51.411.715 See accompanying notes to financial statements. $ 123,160 $ 126,082 $ 555,706 $ 121,502 803,290 45 Water Construction Combined Fund 1979 1978 $ 3,918 $ 4,126 7,103 123,160 210 25,500 $ 170,303 25,000 5,537 3,456 $ 187,071 219 4,246 $ 16,768 $ 62,547 $ 25,000 25,000 $ -0- $ 47,143 $ 44,843 123,160 126,863 $ 170,303 $ 171,706 $ 187,071 $ 234,253 $1,300,878 $1,315,084 $ 727,056 $ 780,726 S -0- 52.215.005S2.330.063 un CITY OF ST. ANTHONY, MINNESOTA UTILITY OPERATING FUNDS [ENTS OF CHANGES IN FINANCIAL POSITION See accompanying notes to financial statements. 1979 1978 Water Sewer Combined Combined SOURCE OF FUNDS Operations Net income (loss) $ 3,289 $( 34,959) $( 31,670) $ 58,257 Depreciation 31,561 4,492 36,053 32,864 Loss on disposal of assets 604 -0- 604 901 $ 35,454 $( 30,467) $ 4,987 $ 92,022 Transfer from Water Construction Fund 61,530 61,530 Transfer from General Reserve Fund 7,980 Increase in meter deposits 2,300 2,300 2,965 Reduction of long-term receivable 4,390 4,390 4,421 Assets contributed from other funds 29,569 29,569 Decrease in working capital 40,997 40,997 983 $ 99 284 $ 44.489 $ 143,773 $ 108.371 APPLICATION OF FUNDS Transfer to General Fund $ 12,000 $ 10,000 $ 22,000 $ 20,000 Purchase of property and equipment 81,929 30,786 112,715 56,196 Reduction of long-term debt 25,000 Reduction of deferred gain 3,703 3,703 3,561 Increase in working capital 5,355 5,355 3,614 $ 99.284 $ 44.489 S 143.773 $ 108.371 Various elements of net increase (decrease) in working capital Cash and temporary investments $( 4,908) $( 32,000) $( 36,908) $(101,850) Cash with paying agent ( 25,290) ( 25,290) ( 500) Accounts receivable 1,867 ( 10,879) ( 9,012) 19,194 Due from other funds ( 9,412) ( 633) ( 10,045) 10,045 Prepaid insurance 375 ( 732) ( 357) 8,505 Inventory 191 -0- 191 535 Accounts payable 257 ( 49) 208 6,827 Contracts payable ( 7,103) 4,246 ( 2,857) Matured bonds and interest 25,290 =0- 25,290 500 Current portion of long-term debt 25,000 -0- 25,000 25,000 Accrued liabilities ( 912) ( 950) ( 1,862) 71 Due to Metropolitan Waste Control Commission 8,688 Due to other funds 25,616 Increase (decrease) in working capital S5,355 S(40.997) $( 35.642) $ 2.631 See accompanying notes to financial statements. CITY OF ST. ANTHONY, MINNESOTA WATER CONSTRUCTION FUND STATEMENT OF INCOME AND RETAINED EARNINGS YEARS ENDED DECEMBER 31, 1979 AND 1978 STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1979 AND 1978 SOURCE OF FUNDS Operations Income APPLICATION OF FUNDS Increase in working capital Various elements of increase in working capital Cash and temporary investments See accompanying notes to financial statements. L 1979 1978 S -0- 1--L .414 $ -0- 414 S -0- L--4.414 49 1979 1978 Income - Interest earned $ 4,414 Transfer to Water Operating Fund $(61,530) Retained earnings January 1 61,530 57,116 Retained earnings December 31 61 30 STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1979 AND 1978 SOURCE OF FUNDS Operations Income APPLICATION OF FUNDS Increase in working capital Various elements of increase in working capital Cash and temporary investments See accompanying notes to financial statements. L 1979 1978 S -0- 1--L .414 $ -0- 414 S -0- L--4.414 49 CITY OF ST. ANTHONY, MINNESOTA STATEMENT OF CASH, TEMPORARY INVESTMENTS AND SECURITY FOR DEPOSITS DECEMBER 31, 1979 Face amount of securities Cash and pledged by temporary depository as investments collateral Cash and temporary investments St. Anthony National Bank General checking account $ 56,761 Liquor checking account 24,025 Savings account 152,101 Certificate of deposit 200,000 $ 432,887 $800.000 Midwest Federal Savings and Loan Certificates of deposit 600,000 120.000 Twin City Federal Savings and Loan Certificate of deposit 100,000 U. S. Government securities 602,646 Total cash and investments $1.735.533 Additional security of $40,000 for demand deposits and $100,000 for time deposits is provided by the Federal Deposit Insurance Corporation and $100,000 for time deposits by the Federal Savings and Loan Insurance Corporation. Minnesota law stipulates that the amount of deposits cannot exceed the insurance plus ninety percent of the market value of securities pledged as collateral by the bank. On December 31, 1979, the deposits at Midwest Federal Savings and Loan were in excess of this requirement. M 51 52 CITY OF ST. ANTHONY, MINNESOTA BONDS PAYABLE DECEMBER 31, 1979 Total Special Assessment Fund $815,000 Note - January 1, 1980 maturities are considered matured December 31, 1979. Issue Interest Maturity date rate date Principal Special Assessment Fund Improvement Bonds of 1973 6/1/73 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 $415,000 Improvement Bonds of 1968 10/1/68 $40,000 per year 4.60 1/1/81-82 $ 80,000 $40,000 per year 4.70 1/1/83-84 80,000 $40,000 per year 4.80 1/1/85-86 80,000 $40,000 per year 4.90 1/1/87-90 160,000 Total Improvement Bonds of 1968 $400,000 Total Special Assessment Fund $815,000 Note - January 1, 1980 maturities are considered matured December 31, 1979. 53 CITY OF ST. ANTHONY, MINNESOTA DEBT SERVICE REQUIREMENTS DECEMBER 31, 1979 Note - January 1 maturities are considered matured December 31, of the preceding year. Special Assessment Bonds Principal Interest Total 1980 $105,000 $ 35,927 $140,927 1981 105,000 31,308 136,308 1982 105,000 26,656 131,656 1983 105,000 21,933 126,933 1984 105,000 17,176 122,176 1985 130,000 11,785 141,785 1986 40,000 7,840 47,840 1987 40,000 5,880 45,880 1988 40,000 3,920 43,920 1989 40,000 1,960 41,960 5815.000 5164.385 5979.385 Note - January 1 maturities are considered matured December 31, of the preceding year. 54 CITY OF ST. ANTHONY, MINNESOTA COMBINED SCHEDULE OF INDEBTEDNESS DECEMBER 31, 1979 Interest rates Bonded indebtedness Special Assessment Bonds 1973 Improvement 4.20-4.50% 1968 Improvement 4.60-4.90 Total bonded indebtedness 6/1/73 3/1/85 None 10/1/68 1/1/90 None 1979 Percent of Final cash received Issue maturity paid by date date tax levies 6/1/73 3/1/85 None 10/1/68 1/1/90 None 55 Bonds Due in 1980 Authorized Issued Redeemed Outstanding Principal Interest $ 675,000 $ 675,000 $ 260,000 $ 415,000 $ 65,000 $ 16,807 960,000 960,000 560,000 400,000 40,000 19,120 51.635.000 51.635.000 $ 820.000 $ 815.000 S 105.000 1--15 .92 7 56 CITY OF ST. ANTHONY, MINNESOTA TAX LEVIES AND COLLECTIONS SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage Collection Percentage Collection of total Total of current of levy of prior Total collections Year levy year'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 1979 479,845 470,219 97.99 2,022 472,241 98.42 SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage Collection Percentage Collection of total Total of current of levy of prior Total collections Year levy year's levy collected year's levy collections to levy 1976 $231,669 $224,013 96.707. $ 6,201 $230,214 99.37% 1977 146,481 140,801 96.12 12,395 153,196 104.58 1978 145,623 142,595 97.92 4,376 146,971 100.93 1979 121,424 110,070 90.65 3,697 113,767 93.69 CITY OF ST. ANTHONY, MINNESOTA ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by year of collectibility) 1977 Assessed valuation $40,666,128 Contribution to fiscal disparities pool ( 391,712) Distribution from fiscal disparities pool 732,464 Taxable valuations S41.006,880 Tax levies General Fund Bonds and interest Total Mill rates General Fund Bonds and interest Total Carol Johnson $ 417,556 25,910 S 443.466 1978 $40,932,278 ( 656,197) 835,184 $41.111.265 $ 506,983 10,983 S 517.966 1979 $41,679,121 ( 867,770) 1,074,330 $41.885.681 110r $45,290,605 (1,073,471) 1,295,993 545.513.127 $ 479,845 $ 509,892 S 479.845 S 509 892 10.189 12.368 11.425 11.197 .632 .268 10.821 12.636 11.425 11.197 SURETY BONDS DECEMBER 31, 1979 Clerk -Treasurer $100,000 57 All employees are covered by an honesty blanket position bond of $100,000 or $300,000. 1W uw