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Home My WebLink About1980 CAFRCITY OF ST. ANTHONY ST. ANTHONY, MINNESOTA FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 1980 C O N T E N T S Page INTRODUCTORY SECTION Comments 1- 4 FINANCIAL SECTION ACCOUNTANTS' REPORT 5- 6 EXHIBIT A - Combined Balance Sheet - All Fund Types 7 B - Combined Statement of Revenue, Expenditures and Fund Balance - All Governmental Fund Types 8 C - Combined Statement of Revenue, Expenditures and Fund Balance - Budget and Actual - General and Special Revenue Fund Types 9 D - Combined Statement of Operations and Retained Earnings - All Proprietary Fund Types 10 E - Combined Statement of Changes in Financial Position - All Proprietary Fund Types 11 Notes to Financial Statements 12-16 SCHEDULE General Fund 1 - Balance Sheet 17 2 - Statement of Changes in Fund Balance 18 3 - Statement of Revenue 19-20 4 - Statement of Expenditures 21-23 Special Revenue Funds 5 - Combining Balance Sheet 24 6 - Combining Statement of Revenue, Expenditures and Fund Balance 25 Statements of Revenue, Expenditures and Fund Balance 7 - General Reserve Fund 26 8 - Revenue Sharing Fund Y6 9 - Special Fire Fund 27 10 - Special Police Fund Y7 11 - State Aid Maintenance Fund Y8 12 - CETA Fund Y8 13 - Community Development Fund 29 R C O N T E N T S (Continued) Page SCHEDULE Capital Projects Funds 14 - Combining Balance Sheet 30 15 - Combining Statement of Revenue, Expenditures and Fund Balance 30 Liquor Fund 20 - Balance Sheet Special Assessment Funds 34 16 - Combining Balance Sheet 31 17 - Combining Statement of Revenue, Expenditures and Fund Balance 32 Changes in Financial Position 36 General Debt Service Fund - Statement 18 - Balance Sheet 37 33 19 - Statement of Revenue and Fund Balance 33 Liquor Fund 20 - Balance Sheet 34 21 - Statement of Income and Retained Earnings 35 22 - Statement of Changes in Financial Position 36 23 - Statement of Gross Profit 37 24 - Statement of Operating Expenses 38 Utility Funds 25 - Combining Balance Sheet 39 Statement of Changes in Retained Earnings and Contributions 26 - Water Fund 40 27 - Sewer Fund 40 28 - Combining Statement of Operations 41 29 - Combining Statement of Changes in Financial Position 42 STATISTICAL SECTION Assessed Valuations, Tax Levies and Mill Rates 43 Tax Levies and Collections 44 Special Assessment Levies and Collections 44 Combined Schedule of Bonded Indebtedness 45 Bonds Payable - All Funds 46 Debt Service Requirements - All Funds 46 INTRODUCTORY SECTION CITY OF ST. ANTHONY 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 accounts for all revenue and the related activities not required to be accounted for in another fund. The principal sources of revenue are general property taxes, intergovernmental revenue and transfers from other funds. Expenditures are for general government, public safety, public works and park maintenance. A plan of financial operation of the General Fund is set forth in the annual budget adopted by the City Council. Revenue exceeded expenditures by $91,965 during 1980 increasing the fund balance to $428,515 at December 31, 1980, of which $28,289 is appropriated for severance payments. A condensed summary of revenue and expenditures compared with the budget for the year ended December 31, 1980 is shown below: -1- ....A,z--a- Budget Actual Revenue and Other Sources General Property Taxes $ 396,212 $ 398,892 Licenses and Permits 14,000 21,384 Intergovernmental Revenue 363,324 380,325 Fines and Forfeitures 24,000 18,305 Charges for Current Services 3,000 4,225 Other Revenue 43,200 42,687 Transfers from Other Funds 429,785 460,129 Totals $1,273,521 $1,325,947 Expenditures General Government $ 300,028 $ 286,317 Public Safety 662,636 643,370 Public Works 290,301 284,038 Park Maintenance 20,556 20,257 Totals $1,273,521 $1,233,982 -1- ....A,z--a- CITY OF ST. ANTHONY COMMENTS Special Revenue Funds Special Revenue Funds are established to account for proceeds from specific revenue sources to be expended for a specified purpose. Following is a brief description of each fund. General Reserve Fund - The General Reserve Fund was established to accumulate resources from the Special Assessment Funds, which are available to be appropriated by the City Council. Expenditures and other uses exceeded revenue by $16,992, reducing the fund balance to $295,065 at December 31, 1980. Revenue Sharing Fund - This fund accounts for revenue received from the Federal Government in accordance with the "State and Local Fiscal Assistance Act of 1972." Expenditures can be made only as outlined in the Act. The City's share of the Federal Revenue Sharing Grant for 1980 was $42,665. During the year ended December 31, 1980, $47,454 was transferred to the General Fund. The fund balance was $46,934 at December 31, 1980. Special Fire Fund - Accounted for in this fund is the State of Minnesota insurance premium tax revenue received for the benefit of the City's fire department. During the year, $15,454 was received and $15,000 was transferred to the General Fund. At December 31, 1980 the fund balance was $33,216. Special Police Fund -The State of Minnesota Town Police Aid reimbursements are accumulated for the benefit of the City's police department in this fund. Aid received during 1980 was $24,853 and $25,000 was transferred to the General Fund. The fund balance was $61,167 at December 31, 1980. State -Aid Maintenance Fund -Gasoline tax collections apportioned to the City from the State of Minnesota for street maintenance are accumulated in this fund. Expenditures of $7,766 were made to repair and maintain City streets. The fund balance of $16,042 at December 31, 1980 is available for street maintenance. CETA Fund - The CETA Fund accounted for salaries and related expenditures reimbursed by the Federal CETA program. Funds remaining at the end of this program were transferred to the General Fund, closing the fund. Community Development Fund - This fund accounts 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 and are fully reimbursable. -2- a�a CITY OF ST. ANTHONY COMMENTS Capital Project Funds These funds are used to account for resources to be used for the acquisition of capital facilities by the City. State Aid Construction Fund - Gasoline tax collections apportioned to the City frOmi the State of Minnesota for street construction are accounted for in this fund. The account receivable of $260,349 from the State of Minnesota, is the City's construction allotment balance at December 31, 1980, of which $210,190 is unencumbered and available 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. During the year ended December 31, 1980 the fund was closed and the remaining funds transferred to the General Fund. Special Assessment Funds The Special Assessment Funds are established to account for assessments levied to finance improvements or services deemed to benefit the properties against which the assessments are levied. Revolving - This fund provides temporary financing of construction projects and the subsequent collection of assessments against benefited property owners. Debt Service - This fund accounts mainly for the collection of assessments against benefited property owners and expenditure of assessment collections for the payment of bonds and interest, issued to finance the cost of improvement projects. The appropriated fund balance represents the interest on bonded indebtedness payable in future years. General Debt Service Fund This fund has accumulated resources, primarily general property taxes, for the redemption of certificates of indebtedness and interest thereon. These certificates are completely retired and the fund balance of $4,647 is unappropriated. Liquor Fund This fund accounts for the operation of the City -owned liquor stores. Detailed statements by stores are included in this report as additional aids in reviewing the results of operations. Following is a condensed summary of the liquor operation for 1980. -3- ..-- -- 3- ..w s,EN.�l r .,w,.,,. CITY OF ST. ANTHONY COMMENTS Liquor Fund (Continued) Percent Amount of Sales Sales $2,600,925 100.00% Cost of Sales 1,588,589 61.08 Gross Profit 1,012,336 38.92 Operating Expenses 639,645 24.59 Operating Income 372,691 14.33 Other Income 57,048 2.19 Other Expense (1,830) (.07) Net Income $ 427,909 16.45% Percent of Net Income Transfer to General Fund $ 325,000 75.95%, Equivalent Mill Rate of Transfer 7.14% Utility Funds The operations of the City -owned water and sewer systems are recorded in the Water Fund and Sewer Fund, respectively. A condensed summary of operations for the Water and Sewer Funds for 1980 is presented below: Water Sewer Operating Income $ 164,106 $205,569 Operating Expenses 193,331 278,376 Operating Income (Loss) 29,225) (72,807) Other Income 33,149 17,199 Other Expense (336) (4,308) Net Income (Loss) $ 3,588 ($ 59,916) -4- .,w,.,,. FINANCIAL SECTION ADRIAN S. HELGESON $ CO. CERTIFIED PUBLIC ACCOUNTANTS 3710 IDS CENTER,90 SOUTH EIGHTH STREET MINNEAPOLIS, MINNESOTA 55402 June 25, 1981 ACCOUNTANTS' REPORT Honorable Mayor and Members of the City Council City of St. Anthony, Minnesota We have examined the combined financial statements of the City of St. Anthony, Minnesota, as of and for the year ended December 31, 1980, as listed in the 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. As described more fully in Note 1, the combined financial statements referred to above do not include financial statements of the general fixed assets account group, which should be included to conform with generally accepted accounting principles. In our opinion, except that the ommission of the financial statements described above results in an incomplete presentation, as explained in the preceding paragraph, the combined financial statements referred to above present fairly the financial position of the City of St. Anthony, Minnesota at December 31, 1980, and the results of its operations and the changes in financial position of its 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. -5- ADRIAN S, -�EIRAR &CD Our examination was made for the purpose of forming an opinion on the combined financial statements taken as a whole. The combining and individual fund financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of St. Anthony, Minnesota. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. Our examination did not include the statistical information presented in the statistical section. ~ S ' IL -IV � (a. Certified Public Accountants nawI,n S..� —aCo. CITY OF ST. ANTHONY COMBINED BALANCE SHEET - ALL FUND TYPES DECEMBER 31, 1980 EXHIBIT A See accompanying Notes to Financial Statements. -7- Governmental Fund Types Proprietary Fund Types General Special Capital Special Debt Total General Revenue Project Assessment Service Liquor Utility (Memorandum ASSETS Fund Funds Funds Funds Fund Fund Funds Only) Cash and Short -Term Investments $422,980 $435,981 $ 36,836 $ 636,984 $4,647 $ 238,002 $ 188,350 $1,963,780 Petty Cash and Change Funds 100 108,175 108,275 Accounts Receivable 5,144 27,720 260,349 86,172 379,385 Other Receivables 168,723 168,723 Accrued Interest Receivable 3,151 2,142 5,293 Due from Other Funds 50,159 50,159 Taxes Receivable Unremitted 2,876 2,876 Delinquent 4,920 4,920 Allowance for Delinquent Taxes Receivable (4,920) (4,920) Special Assessments Receivable Unremitted 215 215 Delinquent 3,979 3,979 Deferred 1,707 433,096 434,803 Inventories, at Lower of Cost or Market 319,060 2,883 321,943 Prepaid Insurance 23,832 9,431 33,263 Property, Plant and Equipment, at Cost Less Accumulated Depreciation 404,034 1,703,176 2,107,210 Restricted Cash and Short -Term Investments (Severance) 28,289 9,260 _ 37,549 Totals $462,540 $465,408 $297,185 $1,124,433 $4,647 $1,104,505 $2,158,735 $5,617,453 LIABILITIES AND FUND EQUITY Liabilities Accounts Payable $ 18,963 $ 12,984 $ 455 $ 123,508 $ 4,760 $ 160,670 Contracts Payable 107 257 107,257 Due to Other Funds $ 50,159 50,159 Accrued Payroll and Related Taxes 11,911 4,430 1,813 18,154 Accrued Sales Tax 11,279 11,279 Meter Deposits 49,473 49,473 Deferred Revenue 3,151 140,608 143,759 Bonds Payable 710,000 710,000 Total Liabilities ?44025 12,984 50,159 817,712 139,217 196,654 1,250,751 Fund Equity Contributed Capital 1,262,578 1,262,578 Retained Earnings Reserved 9,260 9,260 Unreserved 956,028 699,503 1,655,531 Fund Balance Appropriated 28,289 210,190 128,457 366,936 Unappropriated 400,226 452,424 36,836 178,264 $4,647 1,072,397 Total Fund Equity 428,515 42,42 247,026 306,721 4,647 965,288 1,962,081 4,366,702 Totals $462,540 $465,408 $297,185 $1,124,433 $4,647 $1,104,505 $2,158,735 $5,617,453 See accompanying Notes to Financial Statements. -7- CITY OF ST. ANTHONY COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31. 1980 General EXHIBIT B See accompanying Notes to Financial Statements. Special Capital Special Debt Total General Revenue Project Assessment Service (Memorandum Fund Funds Funds Funds Fund Only) Revenue General Property Taxes $ 398,892 $ 21 $ 398,913 Licenses and Permits 21,384 21,384 Intergovernmental Revenue 380,325 $108,800 $ 85,794 574,919 Fines and Forfeitures 18,305 18,305 Charges for Current Services 4,225 4,225 Other Revenue 42,687 46,602 3,710 141,985 $ 470 235,454 Total Revenue 865,818 155,402 89,504 142,006 470 1,253,200 Other Sources Transfers from Other Funds 460,129 81,235 541,364 Total Revenue and Other Sources 1,325,947 155,402 89,504 223,241 470 1,794,564 Expenditures General Government 286,317 286,317 Public Safety 643,370 643,370 Public Works 284,038 7,766 291,804 Park Maintenance 20,257 20,257 Improvement Costs 48,241 94,244 142,485 Debt Service - Interest and Service Charges 36,031 36,031 Unallocated Expenditures 5,761 17,759 23,520 Total Expenditures 1,233,982 61,768 148,034 1,443,784 Other Uses Transfers to Other Funds 109,206 92,158 201,364 Total Expenditures and Other Uses 1,233,982 170,974 92,158 148,034 1,645,148 Excess (Deficiency) of Revenue and Other Sources Over Ex pen itures an Other Uses 91,965 (15,572) (2,654) 75,207 470 149,416 Fund Balance at Beginning of Year 336,550 467,996 249,680 231,514 4,177 1,289,917 Fund Balance at End of Year $ 428,515 $452_,424 $247,026 $306,721 $4,647 $1,439,333 See accompanying Notes to Financial Statements. COMBINED STATEMENT 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 Park Maintenance Improvement Costs Unallocated Expenditures Total Expenditures Other Uses Transfers to Other Funds Total Expenditures and Other Uses Excess (Deficiency) of Revenue and Other Sources Over Expenditures and Other Uses Fund Balance at Beginning of Year Fund Balance at End of Year CITY OF ST. ANTHONY FUND BALANCE - EXHIBIT C IAL - GENERAL AND SPECIAL REVENUE FUND TYPES YEAR ENDED DECEMBER 31, 1980 Total General Fund Special Revenue Funds (Memorandum Only) Budget Actual Budget Actual Budget Actual $ 396,212 $ 398,892 $ 396,212 $ 398,892 14,000 21,384 14,000 21,384 363,324 380,325 $90,900 $108,800 454,224 489,125 24,000 18,305 24,000 18,305 3,000 4,225 3,000 4,225 43,200 42,687 46,602 43,200 89,289 843,736 865,818 90,900 155,402 934,636 1,021,220 429,785 460,129 429,785 460,129 1,273,521 1,325,947 90,900 155,402 1,364,421 1,481,349 300,028 286,317 300,028 286,317 662,636 643,370 662,636 643,370 290,301 284,038 9,000 7,766 299,301 291,804 20,556 20,257 20,556 20,257 48,241 48,241 5,761 5,761 1,273,521 1,233,982 9,000 61,768 1,282,521 1,295,750 87,454 109,206 87,454 109,206 1,273,521 1,233,982 96,454 170,974 1,369,975 1,404,956 $ - 91,965 ($ 5,554) (15,572) ($ 5,554) 76,393 336,550 467,996 804,546 $ 428,515 $452,424 $ 880,939 See accompanying Notes to Financial Statements. CITY OF ST. ANTHONY COMBINED STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS ALL PRORIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1980 EXHIBIT D See accompanying Notes to Financial Statements. ADRIAN E. 10-GE6Dry a CO Total Liquor Utility (Memorandum Fund Funds Only) Sales and Cost of Sales Sales $2,600,925 $2,600,925 Cost of Sales 1,588,589 1,588,589 Gross Profit 1,012,336 1,012,336 Operating Income User Charges $367,174 367,174 Other 2,501 2,501 Total Operating Income 369,675 369,675 Total Gross Profit and Operating Income 1,012,336 369,675 1,382,011 Operating Expenses Personal Services 396,854 115,141 511,995 Supplies 24,459 16,734 41,193 Contracted Services 152,923 78,919 231,842 Other Charges 30,922 30,922 Disposal Charges 179,808 179,808 Depreciation 34,487 81,105 115,592 Total Operating Expenses 639,645 471,707 1,111,352 Operating Income (Loss) 372,691 (102,032) 270,659 Other Income Commissions 21,016 21,016 Check Cashing 22,983 22,983 Credits and Refunds Received 15,536 15,536 Interest Earned 11,966 29,884 41,850 Miscellaneous 1,083 4,928 6,011 Total Other Income 57,048 50,348 107,396 Other Expense Interest Expense 4,308 4,308 Miscellaneous 1,830 336 2,166 Total Other Expense 1,830 4,644 6,474 Net Income (Loss) for Year 427,909 (56,328) 371,581 Retained Earnings at Beginning of Year 862,379 727,056 1,589,435 Redistribution of Depreciation to Contributed Capital 43,775 43,775 Transfer From General Reserve Fund 2,000 2,000 Transfers to General Fund (325,000) (17,000) (342,000) Retained Earnings at End of Year $ 965,288 $699,503 $1,664,791 See accompanying Notes to Financial Statements. ADRIAN E. 10-GE6Dry a CO CITY OF ST. ANTHONY COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1980 Working Capital Provided By Operations Net Income (Loss) for Year Adjustment for Items Not Affecting Working Capital Depreciation Loss on Disposal of Equipment Total Working Capital Provided By Operations Proceeds from Disposal of Equipment Transfer from General Reserve Fund Increase in Deferred Revenue Assets Contributed from Other Funds Total Working Capital Provided Working Capital Applied To Transfer to General Fund Increase in Other Asset Acquisition of Plant and Equipment Increase in Other Receivables Decrease in Deferred Gain Total Working Capital Applied Increase (Decrease) in Working Capital Changes in Working Capital By Components Increases (Decreases) In Current Assets Cash and Short -Term Investments Petty Cash and Change Funds Accounts Receivable Other Receivables Inventories Prepaid Insurance Increases (Decreases) in Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Accrued Sales Tax Meter Deposits Increase (Decrease) in Working Capital Working Capital at Beginning of Year Working Capital at End of Year See accompanying Notes to Financial Statements. -11- Liquor Fund $427,909 34,487 462,396 462,396 325,000 9,260 2,943 337,203 $125,193 $113,977 23,000 (2,433) 20,765 (32,034) 123,275 16,792 (19,243) 533 1,918) 125,193 426,801 $551,994 Utility Funds ($ 56,328) 81,105 336 25,113 178 2,000 21,300 5,475 54,066 17,000 8,566 30,806 3,852 60,224 ($ 6,158) ($ 7,276) 830 (9,100) 1,200 533 13,813) (6,261) (3,724) 2,330 7,655) (6,158) 240,731 $234,573 EXHIBIT E Total (Memorandum Only) $371,581 115,592 336 487,509 178 2,000 21,300 5,475 516,462 342,000 9,260 11,509 30,806 3,852 397,427 $119,035 $106,701 23,000 830 (11,533) 21,965 (31,501) 109,462 10,531 (22,967) 533 2,330 9,573) 119,035 667,532 $786,567 ..oAi.�. CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31. 1980 Note 1. Significant Accounting Policies The City of St. Anthony (the City) is incorporated under statutes of the State of Minnesota and operates under a council-manager plan. Accounting principles adopted by the City conform to generally accepted accounting principles, except for the lack of a general fixed assets account group. The more significant accounting policies are summarized below. Fund Accounting and Budget - The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. Operations of each fund are accounted for in a separate set of self -balancing accounts. Activities accounted for in individual funds are based upon the purpose for which the fund was established. The various funds are arranged in the financial statements into seven fund groups and into two broad fund types. 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. Governmental Fund Types - Revenue and expenditures are recognized on the modified accrual basis of accounting. 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 liability is incurred by the fund, if measurable, except for unmatured interest on special assessment and general long-term debt and accumulated unpaid vacation and sick pay, which are not accrued. Proprietary Fund Types - Income and expenses are recognized on the accrual basis o accounting. Income is recognized in the accounting period in which it is earned and becomes measurable; expenses are recognized in the period incurred, if measurable. Cash and Short -Term Investments - Cash available in excess of immediate needs is invested in savings accounts, certificates of deposit and short-term government obligations. Interest income is recognized as earned. Interest earnings are allocated to City funds on the basis of average cash balances. Investments are stated at cost, which approximates market. 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, recorded 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. -12- CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1980 Note 1. Significant Accounting Policies (Continued) Inventories - Inventories held by the proprietary fund types (Liquor and Utility funds) are stated at the lower of cost or market based on the first -in, first -out valuation method. Expendible supplies are expensed as purchased. Property, Plant and Equipment - Property, plant and equipment of the proprietary funds are stated at cost. Depreciation has been provided using the straight-line method over the estimated useful lives of the assets. Depreciation on Utility Funds property, plant and equipment, which has been financed by special assessments, grants and other contributions, is charged against current income and is then redistributed as a charge against the contributed capital account. General Fixed Assets - General fixed assets owned by the City are not included in the financial statements because records of such assets are not maintained. Generally accepted accounting principles require that a statement of general fixed assets be included in the financial statements. Bonded Indebtedness - Liabilities are recorded in the Special Assessment Funds for improvement bonds payable. Interest expense is recorded as an expenditure when paid; interest is not accrued unless fully matured and not paid. Interest payments due January 1 are recognized as expenditures when amounts are remitted to the paying agent (usually in December) for payment of interest. Vacation, Sick Leave and Severance Pay - City employees are entitled to vacation and sick leave based upon length of employment and the payment thereof is treated as an expenditure in the period paid. The amount of accrued vacation and sick leave at December 31, 1980 was not determined nor recorded in the accounts. During the year the City established a severance pay policy for employees. This policy provides for severance payments based upon the number of days of sick leave accrued, subject to certain regulations. The City has appropriated funds to provide necessary funding for anticipated severance payments. Combined Statements - Total columns on the combined statements are captioned 'memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns does not present financial position in conformity with generally accepted accounting principles. Interfund transactions have not been eliminated in the aggregation of this data. -13- A-ANS.,E,GE—aCo. CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1980 Note 2. Property, Plant and Equipment The following is a summary of the property, plant and equipment of the proprietary fund types at December 31, 1980: Liquor Water Sewer Fund Fund Fund Land $ 2,232 $ 2,000 $ 3,645 Land Improvements 8,920 5,006 Buildings and Structures 468,089 665,202 9,000 Furniture, Fixtures and Equipment 248,473 96,018 63,637 Distribution and Collection System 1,466,822 1,027,862 727,714 2,235,048 1,104,144 Less Accumulated Depreciation 323,680 1,152,139 483,877 Totals $404,034 $1,082,909 $ 620,267 Note 3. Metropolitan Waste Control Commission Under 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. The City received from the Metropolitan Waste Control Commission a refund for past sewer availability charges. Credits against future sewer availability charges payable will be issued by the Commission to repay this refund. Deferred revenue was recorded due to the uncertainty of when credits will be issued to the City. Revenue will be recorded as credits are received from the Commission. Another receivable from the Metropolitan Waste Control Commission, and the corresponding deferred gain of the Utility Funds, represents the City's 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 the year 2000, with interest, against future disposal charges from the Commission. These credits will be reflected in the statement of income as received. -14- CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1980 Note 4. Bonded Indebtedness The City has special assessment improvement bonds outstanding at December 31, 1980. These bonds are payable primarily from the collection of special assessments with any deficiency to be provided for by general property taxes. During 1980 it was determined that sufficient funds were available to extinguish all debt service payments required in 1981. As a result, property taxes levied for debt retirement collectible in 1981 have been cancelled. In addition, no property taxes were collected for debt retirement in 1980. Special assessment improvement bonds payable is comprised of the following two individual issues. $960,000 Improvement Bonds of 1968 $675,000 Improvement Bonds of 1973 Maturities Interest Rates Amount 1981-1990 4.60-4.90% $360,000 1981-1985 4.30-4.50% 350,000 $710,000 The following is a summary of bond transactions for the year ended December 31, 1980: Special Assessment Improvement Bonds Notes 5. Contributed Capital Payable at January 1, 1980 Issued Payable at December 31, Redeemed 1980 $815,000 $ - $105,000 $710,000 A substantial portion of the property, plant and equipment in the Utility Funds was financed by special assessments, grants and other contributions. When such assets are acquired they are credited to the contributed capital account. Depreciation on contributed assets is charged against current income, but is then redistributed as a charge against the contributed capital amount. The rates charged by the City are not intended to generate sufficient income to recover the depreciation on contributed assets and replacement of these assets is expected to be financed primarily by future contributions. =L: CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31. 1980 Note 6. 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 $102,045 for the year ended December 31, 1980. 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 7. Leases The City presently leases space for its administrative offices under an agreement which expires August, 1981. The lease provides that the City pay all costs of operating the building. In addition, the City leases space for its Apache Liquor store. The lease, expiring November, 1985 requires annual rentals of $16,990 plus the pro rata share of common center expense. Note 8. 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, 1980 the collateral pledged by First Security State Bank was approximately $150,000 below the statutory requirement. On January 26, 1981 additional collateral was pledged, which was sufficient to satisfy this requirement. -16- CITY OF ST. ANTHONY SCHEDULE 1 GENERAL FUND BALANCE SHEET DECEMBER 31, 1980 ASSETS Cash and Short -Term Investments $422,980 Petty Cash and Change Fund 100 Accounts Receivable 5,144 Accrued Interest Receivable 3,151 Taxes Receivable Unremitted 2,876 Delinquent 4,920 Allowance for Delinquent Taxes Receivable (4,920) Restricted Cash and Short -Term Investments (Severance) 28,289 Total $462,540 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 18,963 Accrued Payroll and Related Taxes 11,911 Deferred Revenue 3,151 Total Liabilities 34,025 Fund Balance Appropriated for Severance Payments 28,289 Unappropriated 400,226 Total Fund Balance 428,515 Total $462,540 -17- IICITY OF ST. ANTHONY SCHEDULE 2 GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Revenue and Other Sources Expenditures Excess of Revenue and Other Sources Over Expenditures Fund Balance at Beginning of Year Fund Balance at End of Year -18- Budget Actual $1,273,521 $1,325,947 1,273,521 1,233,982 91,965 336,550 336,550 $ 336,550 $ 428,515 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEAR ENDED DECEMBER 31, 1980 SCHEDULE 3 Sheet 1 -19- Budget Actual General Property Taxes Taxes $ 387,367 Fiscal Disparities Distribution 9,915 $ 395,212 397,282 Penalties and Interest on Taxes 1,000 1,610 396,212 398,892 Licenses and Permits Licenses 8,000 8,780 Permits 6,000 12,604 14,000 21,384 Intergovernmental Revenue State Property Tax Relief Fund - Homestead Credit 115,480 115,480 Local Government Aid 243,184 243,184 Attached Machinery Aid 1,000 1,065 Other State Grants and Aid Police - Bike Safety and Training 2,880 Civil Defense 4,666 Shade Tree 615 Energy Audits 3,580 County Aid - Street Maintenance 3,660 6,069 Metro Council Section 8 Housing Grant 2,151 Planning Assistance Grant 635 363,324 380,325 Fines and Forfeitures 24,000 18,305 Charges for Current Services 3,000 4,225 -19- CITY OF ST. ANTHONY SCHEDULE 3 Sheet 2 GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEAR ENDED DECEMBER 31, 1980 Budget Actual Other Revenue Interest Earned $ 25,627 Rental of Property 4,825 Sale of Property and Equipment 2,227 Other 2,974 Refunds and Reimbursements Independent School District No. 282 Labor and Supplies 4,121 Administrative Fees 553 Insurance Claims 1,244 Other 1,116 $ 43,200 42,687 Total Revenue 843,736 865,818 Other Sources Transfers from Other Funds General Reserve Fund 11,700 Revenue Sharing Fund 47,454 47,454 Special Fire Fund 15,000 15,000 Special Police Fund 25,000 25,000 CETA Fund 8,052 Capital Improvement Fund 3,331 10,923 Liquor Fund 325,000 325,000 Water Fund 7,000 8,500 Sewer Fund 7,000 8,500 Total Other Sources 429,785 460,129 Totals $1,273,521 $1,325,947 -20- r 11 CITY OF ST. ANTHONY SCHEDULE 4 Ch, .o t GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEAR ENDED DECEMBER 31, 1980 General Government Mayor and Council Personal Services Supplies Contracted Services and Other Charges Contingency Management Personal Services Contracted Services and Other Charges Elections Personal Services Supplies Contracted Services and Other Charges Finance Personal Services Supplies Contracted Services and Other Charges Independent Audit - Contracted Services Assessing Personal Services Contracted Services and Other Charges Legal - Contracted Services Engineering - Contracted Services Planning and Zoning Supplies Contracted Services and Other Charges General Government Buildings Personal Services Supplies Contracted Services and Other Charges Capital Outlay Total General Government -21- Budget $ 13,025 60 2,790 16,500 32,375 57,200 3,275 60,475 200 150 2,450 2,800 24,450 4,500 55,800 84,750 4,500 1,900 13,750 15,650 28,138 2,000 150 1,190 1,340 16,500 800 50,200 500 68,000 300,028 Actual $ 12,557 55 2,572 16,284 31,468 55,346 3,099 58,445 120 117 2,180 2,417 23,531 4,339 53,906 81,776 3,900 1,534 13,657 15,191 25,575 1,662 149 421 570 16,116 778 47,951 468 65,313 286,317 STATEMENT OF CITY OF ST. ANTHONY GENERAL FUND EXPENDITURES - ACTUAL COMPARED WITH BUDGET SCHEDULE 4 Sheet 2 YEAR ENDED DECEMBER 31, 1980 Budget Actual Public Safety Civil Defense Personal Services $ 7,800 $ 7,756 Supplies 150 146 Contracted Services and Other Charges 710 371 Capital Outlay 1,000 730 9,660 9,003 Police Protection Personal Services 342,000 333,232 Supplies 4,375 4,176 Contracted Services and Other Charges 12,577 11,125 Capital Outlay 14,000 14,532 Bike Safety Program 2,750 372,952 365,815 Fire Protection Personal Services 251,850 242,9:3 Supplies 4,300 4,276 Contracted Services and Other Charges 7,730 6,798 Capital Outlay 3,875 3,754 267,755 257,751 Protective Inspection Personal Services 9,425 8,863 Contracted Services and Other Charges 794 616 10,219 9,479 Animal Control - Contracted Services and Other Charges 2,050 1,322 Total Public Safety 662,636 643,370 Public Works Street Maintenance Personal Services 154,000 149,283 Supplies 21,183 23,763 Contracted Services and Other Charges 5,540 5,102 Capital Outlay 7,831 7,812 188,554 185,960 Maintenance Garage Personal Services 23,655 22,818 Supplies 39,700 40,974 Contracted Services and Other Charges 4,529 4,159 Capital Outlay 400 68,284 67,951 Street Lighting - Contracted Services 17,000 15,686 -22- CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEAR ENDED DECEMBER 31. 1980 Public Works (Continued) Storm Sewer Supplies Contracted Services and Other Charges Tree Care and Weed Inspection Personal Services Supplies Contracted Services and Other Charges Capital Outlay Total Public Works Park Maintenance Personal Services Supplies Contracted Services and Other Charges Capital Outlay Total Park Maintenance Totals -23- Budget $ 800 1,650 2,450 10,000 810 2,503 700 14,013 290,301 1,000 3,100 3,035 13,421 20,556 $1,273,521 SCHEDULE 4 Sheet 3 Actual $ 161 1,259 1,420 9,328 728 2,265 700 13,021 284,038 628 3,056 2,628 13,945 20,257 $1,233,982 CITY OF ST. ANTHONY SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 SCHEDULE 5 General Revenue Special Special State Aid Community Reserve Sharing Fire Police Maintenance CETA Development Fund Fund Fund Fund Fund Fund Fund Combined ASSETS Cash and Short -Term Investments (Deficit) Accounts Receivable Special Assessments Receivable - Deferred Totals LIABILITY AND FUND BALANCE Liability - Accounts Payable Fund Balance - Unappropriated Totals -24- $293,358 1,707 $295,065 $36,086 $33,216 10,848 $46,934 $33,216 $61,167 $15,699 798 $61,167 $16,497 ($ 3,545) $435,981 16,074 27,720 1,707 $ - $12,529 $465,408 $ 455 $12,529 $ 12,984 $295,065 $46,934 $33,216 $61,167 16,042 452,424 $295,065 $46,934 $33,216 $61,167 $16,497 $ - $12,529 $465,408 A -A.. -1-.. a CITY OF ST. ANTHONY SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE DECEMBER 31, 1980 SCHEDULE 6 -25- General Revenue Special Special State Aid Community Reserve Sharing Fire Police Maintenance CETA Development Fund Fund Fund Fund Fund Fund Fund Combined Revenue Intergovernmental Revenue Federal Grants Revenue Sharing $42,665 $ 42,665 CETA $1,268 1,268 Community Development $16,580 16,580 State Grants Insurance Premium Tax $15,454 $24,853 40,307 Street Maintenance Allotment $ 7,980 7,980 Total Intergovernmental Revenue 42,665 15,454 24,853 7,980 1,268 16,580 108,800 Other Revenue Assessment Collections $ 821 821 Interest on Assessments 156 156 Interest Earned 32,735 3,133 2,562 5,149 1,590 456 45,625 Total Other Revenue 33,712 3,133 2,562 5,149 1,590 456 46,602 Total Revenue 33,712 45,798 18,016 30,002 9,570 1,724 16,580 155,402 Expenditures Public Works - Street Maintenance Supplies 4,712 4,712 Contracted Services 3,054 3,054 Other Functions Cancellation of Assessments 4,837 4,837 Improvement Costs 32,167 16,074 48,241 Administrative 418 506 924 Total Expenditures 37,004 418 7,766 16,580 61,768 Other Uses Transfers to Other Funds General Fund 11,700 47,454 15,000 25,000 8,052 107,206 Sewer Fund 2,000 2,000 Total Other Uses 13,700 4-7 T4 15,000 25,000 8,052 109,20 Total Expenditures and Other Uses 50,704 47,872 15,000 25,000 7,766 8,052 16,580 170,974 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (16,992) (2,074) 3,016 5,002 1,804 (6,328) (15,572) Fund Balance at Beginning of Year 312,057 49,008 30,200 56,165 14,238 6,328 467,996 Fund Balance at End of Year $295,065 $46,934 $33,216 $61,167 $16,042 $ - $ - $452,424 -25- CITY OF ST. ANTHONY SCHEDULE 7 GENERAL RESERVE FUND STATEMENT OF REVENUE. EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 WT -T Budget Actual_ Revenue Assessment Collections $ 821 Interest on Assessments 156 Interest Earned 32,735 Total Revenue 33,712 Expenditures Cancellation of Assessments 4,837 Improvement Costs 32,167 Total Expenditures 37,004 Other Uses Transfers to Other Funds General Fund 11,700 Sewer Fund 2,000 Total Other Uses 13,700 Total Expenditures and Other Uses 50,704 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (16,992) Fund Balance at Beginning of Year $312,057 312,057 Fund Balance at End of Year $312,057 $295,065 REVENUE SHARING FUND SCHEDULE 8 STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Budget Actual Revenue Federal Grant - U.S. Treasury Revenue Sharing Grant $ 43,000 $ 42,665 Interest Earned 3,133 Total Revenue 43,000 45,79 19 Expenditures Contracted Services and Other Charges 418 Other Uses Transfer to General Fund 47,454 47,454 Total Expenditures and Other Uses 47,454 47,872 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (4,454) (2,074) Fund Balance at Beginning of Year 49,008 49,008 Fund Balance at End of Year $ 44,554 $ 46,934 WT -T CITY OF ST. ANTHONY SPECIAL FIRE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Budget Revenue State Aid - Insurance Premium Tax $15,000 Interest Earned Total Revenue 15,000 Expenditures and Other Uses Transfer to General Fund 15,000 Excess of Revenue Over Expenditures and Other Uses Fund Balance at Beginning of Year 30,200 Fund Balance at End of Year $30,200 SPECIAL POLICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 SCHEDULE 9 Actual $15,454 2,562 18,016 15,000 3,016 30,200 $33,216 cnvDll„i 9 I n Budget Actual Revenue State Aid - Insurance Premium Tax $25,000 $24,853 Interest Earned 5,149 Total Revenue 25,000 30,002 Expenditures and Other Uses Transfer to General Fund 25,000 25,000 Excess of Revenue Over Expenditures and Other Uses 5,002 Fund Balance at Beginning of Year 56,165 56,165 Fund Balance at End of Year $56,165 $61,167 -27- CITY OF ST. ANTHONY SCHEDULE 11 STATE AID MAINTENANCE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31. 1980 Revenue State Aid - Street Maintenance Allotment Interest Earned Total Revenue Budget $ 7,900 7,900 Actual $ 7,980 1,590 9,570 Expenditures Supplies 6,000 4,712 Contracted Services 3,000 3,054 Total Expenditures 9,000 7,766 Excess (Deficiency) of Revenue Over Expenditures (1,100) 1,804 Fund Balance at Beginning of Year 14,238 14,238 Fund Balance at End of Year $13,138 $16,042 CETA STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Revenue Federal Grant - CETA Interest Earned Total Revenue Expenditures and Other Uses Transfer to General Fund Excess (Deficiency) of Revenue Over Expenditures and Other Uses Fund Balance at Beginning of Year Fund Balance at End of Year "wa Budget Actual $ 1,268 456 1,724 8,052 (6,328) $ 6,328 6,328 $ 6,328 $ - CITY OF ST. ANTHONY SCHEDULE 13 COMMUNITY DEVELOPMENT FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Budget Actual Revenue Federal Grant - Community Development $16,580 Expenditures Improvement Costs 16,074 Administrative 506 Total Expenditures 16,580 Excess of Revenue Over Expenditures Fund Balance at Beginning of Year Fund Balance at End of Year -29- ASSETS Cash and Short -Term Investments Account Receivable Totals LIABILITY AND FUND BALANCE Liability - Due to Special Assessment Fund Fund Balance Appropriated Unappropriated Total Fund Balance Totals Revenue CITY OF ST. ANTHONY CAPITAL PROJECT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 State Aid Construction Fund $ 36,836 260,349 $297,185 $ 50,159 210,190 36,836 247,026 $297,185 COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1980 Capital Improvement Fund SCHEDULE 14 ,--k: --A $ 36,836 260,349 $297,185 $_50,159 210,190 36,836 247,026 $297,185 SCHEDULE 15 State Aid Construction Allotment $ 85,794 $ 85,794 Interest Earned 2,771 $ 578 3,349 Other 361 361 Total Revenue 88,565 939 89,504 Expenditures and Other Uses Transfers to Other Funds General Fund 10,923 10,923 Special Assessment Fund 81,235 81,235 Total Expenditures and Other Uses 81,235 10,923 92,158 Excess (Deficiency) of Revenue Over Exp9RJ uies�ttnier Uses 7,330 (9,984) (2,654) Fund Balance at Beginning of Year 239,696 9,984 249,680 Fund Balance at End of Year $247,026 $ - $247,026 11 -30- r LIABILITIES AND FUND BALANCE CITY OF ST. ANTHONY SCHEDULE 16 Liabilities SPECIAL ASSESSMENT FUNDS Accounts Payable COMBINING BALANCE SHEET $ 455 Contracts Payable DECEMBER 31, 1980 107,257 Bonds Payable Revolving Debt Service Combined ASSETS 107,712 710,000 817,712 Cash and Short -Term Investments $ 60,537 $576,447 $ 636,984 Special Assessment Receivable 128,457 Unremitted Unappropriated 215 215 Delinquent Total Fund Balance 3,979 3,979 Deferred 47,785 385,311 433,096 Due from State Aid Construction Fund 50,159 50,159 Totals $158,481 $965,952 $1,124,433 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 455 $ 455 Contracts Payable 107,257 107,257 Bonds Payable $710,000 710,000 Total Liabilities 107,712 710,000 817,712 Fund Balance Appropriated 128,457 128,457 Unappropriated 50,769 127,495 178,264 Total Fund Balance 50,769 255,952 306,721 Totals $158,481 $965,952 $1,124,433 -31- CITY OF ST. ANTHONY SCHEDULE 17 SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCES DECEMBER 31, 1980 Revenue General Property Taxes Tax Forfeit Sale Special Assessments Interest on Assessments Interest Earned Other Total Revenue Other Sources Transfer from State Aid Construction Fund Total Revenue and Other Sources Expenditures Improvement Costs Cancellation of Assessments Interest on Bonds Service Charges Other Total Expenditures Excess of Revenue and Other Sources Over Expenditures Fund Balance at Beginning of Year Fund Balance at End of Year -32- Revolving Debt Service $ 21 2,683 $49,741 13 1,432 51,186 81,235 132,421 94,244 94,244 38,177 12,592 $50,769 32,581 55,403 132 90,820 90,820 17,707 35,926 105 52 53,790 37,030 218,922 $255,952 $ 21 2,683 49,741 32,594 56,835 132 142,006 81,235 223,241 94,244 17,707 35,926 105 52 148,034 75,207 231,514 $306,721 ADRIAN "E.GEsoxa DO CITY OF ST. ANTHONY SCHEDULE 18 GENERAL DEBT SERVICE FUND BALANCE SHEET DECEMBER 31. 1980 ASSETS Cash and Short -Term Investments $4,647 FUND BALANCE Fund Balance - Unappropriated $4,647 STATEMENT OF REVENUE AND FUND BALANCE SCHEDULE 19 DECEMBER 31, 1980 Revenue Interest Earned $ 470 Fund Balance at Beginning of Year 4,177 Fund Balance at End of Year $4,647 -33- CITY OF ST. ANTHONY LIQUOR FUND BALANCE SHEET DECEMBER 31, 1980 ASSETS Current Assets Cash and Short -Term Investments Petty Cash and Change Funds Accrued Interest Receivable Inventory of Merchandise, at Lower of Cost or Market Prepaid Insurance Total Current Assets Property, Plant and Equipment - At Cost Land and Improvements Building and Structures Furniture, Fixtures and Equipment Less Accumulated Depreciation Total Property, Plant and Equipment Other Asset Restricted Cash and Short -Term Investments (Severance) Total LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Accrued Sales Tax Total Current Liabilities F__u__n__d�� E��u�i��ty ReEarnings Reserved for Severance Payments Unreserved Total Fund Equity Total -34- SCHEDULE 20 $ 238,002 108,175 2,142 319,060 23,832 691,211 11,152 468,089 248,473 727,714 323,680 404,034 9,260 $1,104,505 $ 123,508 4,430 11,279 139,217 9,260 956,028 965,288 $1,104,505 CITY OF ST. ANTHONY LIQUOR FUND STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1980 Sales Cost of Sales Gross Profit Operating Expenses Operating Income Other Income Commissions Check Cashing Interest Earned Miscellaneous Other Expense Miscellaneous Net Income Retained Earnings at Beginning of Year Transfer to General Fund Retained Earnings at End of Year SCHEDULE 21 -35- 862,379 (325,000) $ 965,288 Percent Store 711 Store #2 Total of Sales $1,510,399 $1,090,526 $2,600,925 100.00% 876,358 712,231 1,588,589 61.08 634,041 378,295 1,012,336 38.92 396,947 242,698 639,645 24.59 237,094 135,597 372,691 14.33 17,022 3,994 21,016 .81 18,875 4,108 22,983 .88 5,983 5,983 11,966 .46 693 390 1,083 .04 42,573 14,475 57,048 2.19 279,667 150,072 429,739 16.52 1,029 801 1,830 .07 $ 278,638 $ 149,271 427,909 16.45% -35- 862,379 (325,000) $ 965,288 CITY OF ST. ANTHONY LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 3 Working Capital Provided By Operations Net Income for Year Adjustment for Item Not Affecting Working Capital Depreciation Total Working Capital Provided Working Capital Applied To Transfer to General Fund Increase in Other Asset Acquisition of Equipment Total Working Capital Applied Increase in Working Capital Changes in Working Capital By Components Increases (Decreases) in Current Assets Cash and Short -Term Investments Petty Cash and Change Funds Other Receivables Inventory Prepaid Insurance Increases (Decreases) in Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Accrued Sales Tax Increase in Working Capital Working Capital at Beginning of Year Working Capital at End of Year -36- SCHEDULE 22 $427,909 34,487 462,396 325,000 9,260 2,943 337,203 $125,193 $113,977 23,000 (2,433) 20,765 (32,034) 123,275 16,792 (19,243) 533 1,918) 125,193 426,801 $551,994 nnninx s. wEo, a co. .oaP.r S IELcESSN eco. CITY OF ST. ANTHONY SCHEDULE 23 LIQUOR FUND STATEMENT OF GROSS PROFIT YEAR ENDED DECEMBER 31, 1980 Cost of Gross Percent Sales Sales Profit of Sales Store No. 1 Off Sale Liquor $ 332,812 $258,002 $ 74,810 22.48% Wine 139,865 99,094 40,771 29.15 Beer 444,603 352,493 92,110 20.72 Other 30,320 15,031 15,289 50.43 On Sale 515,587 140,343 375,244 72.78 Speakeasy 47,212 11,395 35,817 75.86 Totals $1,510,399 $876,358 $634,041 Store No. 2 0 Sale Liquor $ 338,837 $261,340 $ 77,497 22.87% Wine 142,993 104,356 38,637 27.02 Beer 348,379 271,424 76,955 22.09 Other 27,782 12,225 15,557 56.00 On Sale 232,535 62,886 169,649 72.96 Totals $1,090,526 $712,231 $378,295 -37- .oaP.r S IELcESSN eco. CITY OF ST. ANTHONY SCHEDULE 24 LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEAR ENDED DECEMBER 31, 1980 Store #1 Store #2 Total Salaries On Sale $ 97,572 $ 46,912 $144,484 Off Sale 59,965 53,137 113,102 Custodians 20,855 20,855 Managers 23,995 23,995 47,990 Bookkeepers 13,544 13,544 27,088 Employees' Insurance 5,641 4,924 10,565 Pension Contributions 19,488 12,952 32,440 Unemployment Compensation 330 330 Personal Services 241,390 155,464 396,854 Laundry 3,324 1,508 4,832 On Sale Supplies 4,450 1,231 5,681 Off Sale Supplies 4,170 2,841 7,011 Cleaning Supplies 1,598 1,182 2,780 Office Expense 2,097 2,058 4,155 Supplies and Related Costs 15,639 8,820 24,459 Rentals and Leases 493 17,476 17,969 Heat and Fuel 2,920 1,408 4,328 Utilities 14,038 6,088 20,126 Telephone 875 809 1,684 Sanitation 1,098 1,030 2,128 Insurance 51,548 24,995 76,543 Security 960 752 1,712 Advertising and Decorating 1,262 1,406 2,668 Accounting 800 800 1,600 Music 24,165 24,165 Contracted Services 98,159 54,764 152,923 Repairs, Maintenance and Janitorial 14,923 13,126 28,049 Depreciation 25,529 8,958 34,487 Travel 1,166 1,473 2,639 Other 141 93 234 Other Charges 41,759 23,650 65,409 Totals $396,947 $242,698 $639,645 CITY OF ST. ANTHONY UTILITY FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1980 ASSETS Water Sewer SCHEDULE 25 Combined Current Assets Cash and Short -Term Investments (Deficit) $ 273,810 ($ 85,460) $ 188,350 Accounts Receivable 35,005 51,167 86,172 Other Receivable 49,473 3,783 3,783 Inventory of Supplies, at Lower of Cost or Market 2,883 1,284 2,883 Prepaid Insurance 5,969 3,462 9,431 Total Current Assets 317,667 (27,048) 290,619 Property, Plant and Equipment - At Cost Land and Improvements 7,006 3,645 10,651 Distribution and Collection System 1,466,822 1,027,862 2,494,684 Building and Structures 665,202 9,000 674,202 Equipment 96,018 63,637 159,655 Contributed Capital 2,235,048 1,104,144 3,339,192 Less Accumulated Depreciation 1,152,139 483,877 1,636,016 Total Property, Plant and Equipment 1,082,909 620,267 1,703,176 Other Receivables $1,400,576 $758,159 $2,158,735 Metropolitan Waste Control Commission 164,940 164,940 Totals $1,400,576 $ 758,159 $2,158,735 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 4,033 $ 727 $ 4,760 Accrued Payroll and Related Taxes 1,256 557 1,813 Meter Deposits 49,473 49,473 Total Current Liabilities 54,762 1,284 56,046 Other Liabilities Deferred Revenue 21,300 21,300 Deferred Gain on Disposal of Property and Equipment - Metropolitan Waste Control Commission 119,308 119,308 Total Other Liabilities 140,608 140,608 Total Liabilities 54,762 141,892 196,654 Fund Equity Contributed Capital 720,170 542,408 1,262,578 Retained Earnings 625,644 73,859 699,503 Total Fund Equity 1,345,814 616,267 1,962,081 Totals $1,400,576 $758,159 $2,158,735 -39- CITY OF ST. ANTHONY SCHEDULE 26 UTILITY FUNDS WATER FUND STATEMENT OF CHANGES IN FUND EQUITY YEAR ENDED DECEMBER 31, 1980 Contributed Retained Capital Earnings Balance at Beginning of Year $745,172 $605,554 Net Income for Year 3,588 Transfer to General Fund (8,500) Redistribution of Depreciation to Contributed Capital (25,002) 25,002 Balance at End of Year $720,170 $625,644 SEWER FUND SCHEDULE 27 STATEMENT OF CHANGES IN FUND EQUITY YEAR ENDED DECEMBER 31, 1980 -40- Contributed Retained Capital Earnings Balance at Beginning of Year $555,706 $121,502 Net Loss for Year (59,916) Transfer from General Reserve Fund 2,000 Transfer to General Fund (8,500) Assets Contributed from Other Funds 5,475 Redistribution of Depreciation to Contributed Capital (18,773) 18,773 Balance at End of Year $542,408 $ 73,859 -40- CITY OF ST. ANTHONY UTILITY FUNDS COMBINING STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1980 SCHEDULE 28 Net Income (Loss) -41- $ 3,588 ($ 59,916) ($ 56,328) Water Sewer Combined Operating Income Water Sales $161,605 $161,605 Sewer Charges $205,569 205,569 Other 2,501 2,501 Total Operating Income 164,106 205,569 369,675 Operating Expenses Personal Services 63,147 51,994 115,141 Supplies 11,909 4,825 16,734 Contracted Services and Other Charges 60,679 18,240 78,919 Disposal Charges 179,808 179,808 Depreciation 57,596 23,509 81,105 Total Operating Expenses 193,331 278,376 471,707 Operating Loss 29,225) 72,807) (102,032) Other Income Permits 1,260 240 1,500 Interest Earned 29,884 29,884 Miscellaneous 2,005 1,423 3,428 Metropolitan Waste Control Commission Credits Received 11,753 11,753 Refund of Prior Period's Disposal Charges 3,783 3,783 Total Other Income 33,149 17,199 50,348 3,924 55,608) (51,684) Other Expense Interest Expense 4,308 4X 308 Loss on Disposal of Equipment 336 336 Total Other Expense 336 4,308 4,644 Net Income (Loss) -41- $ 3,588 ($ 59,916) ($ 56,328) CITY OF ST. ANTHONY UTILITY FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED DECEMBER 31, 1980 Working Capital Provided By Operations Net Income (Loss) for Year Adjustment for Items Not Affecting Working Capital Depreciation Loss on Disposal of Equipment Working Capital Provided (Applied to) Operations Transfer from General Reserve Fund Proceeds from Disposal of Equipment Increase in Deferred Revenue Assets Contributed from Other Funds Total Working Capital Provided (Applied) Water Sewer SCHEDULE 29 Combined $ 3,588 ($ 59,916) ($ 56,328) 57,596 23,509 81,105 336 (9,100) 336 61,520 (36,407) 25,113 441 2,000 2,000 178 (57,903) 178 (6,470) 21,300 21,300 (1,877) 5,475 5,475 61,698 (7,632) 54,066 Working Capital Applied To Transfer to General Fund 8,500 8,500 17,000 Acquisition of Plant and Equipment 3,091 5,475 8,566 Increase in Other Receivables 30,806 30,806 Decrease in Deferred Gain 3,852 3,852 Total Working Capital Applied 11,591 48,633 60,224 Increase (Decrease) in Working Capital Changes in Working Capital By Components Increases (Decreases) in Current Assets Cash and Short -Term Investments Accounts Receivable Other Receivable Inventory Prepaid Insurance Increases (Decreases) in Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Meter Deposits Increases (Decreases) in Working Capital Working Capital at Beginning of Year Working Capital at End of Year -42- $ 50,107 ($ 56,265) ($ 6,158) $ 44,236 ($ 51,512) ($ 7,276) (1,787) 2,617 830 (9,100) (9,100) 1,200 1,200 441 92 533 44,090 (57,903) (13,813) (6,470) 209 (6,261) (1,877) (1,847) (3,724) 2,330 2,330 6,017 1,638 7,655) 50,107 (56,265) (6,158) 212,798 27,933 240,731 $262,905 ($ 28,332) $234,573 STATISTICAL SECTION CITY OF ST. ANTHONY ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES Shown by Year of Collectibility Tax Levies - General $ 509,892 $ 519,988 Mill Rates - General 11.197 10.216 -43- 1980 1981 Assessed Valuation $45,290,605 $50,751,519 Contribution to Fiscal Disparities Pool (1,073,471) (1,732,976) Distribution from Fiscal Disparities Pool 1,295,993 1,716,990 Taxable Valuations $45,513,127 $50,735,533 Tax Levies - General $ 509,892 $ 519,988 Mill Rates - General 11.197 10.216 -43- CITY OF ST. ANTHONY TAX LEVIES Current Percentage COLLECTIONS Total Year's Levy of Levy Year Levy Collections Collected 1976 $398,382 $396,315 99.48% 1977 443,508 431,355 97.26 1978 517,966 515,170 99.46 1979 479,845 470,219 97.99 1980 509,892 504,555 98.95 COLLECTIONS SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage Percentage Prior Prior of Total Year's Levy Total Collections Collections Collections To Levy $ 2,240 $398,555 100.04% 1,847 433,202 97.68 13,424 528,594 102.05 2,022 472,241 98.42 8,226 512,781 100.57 SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage -44- ADRIAN s. H -ESM &Ca i Current Percentage Prior of Total Total Year's Levy of Levy Year's Levy Total Collections Year Levy Collections Collected Collections Collections To Levy 1976 $231,669 $224,013 96.70% $ 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 1980 102,170 100,420 98.29 6,346 106,766 104.50 -44- ADRIAN s. H -ESM &Ca i Bonded Indebtedness Special Assessment Improveme Improvement Bonds of 1968 Improvement Bonds of 1973 Total Bonded Indebtedn CITY OF ST. ANTHONY BONDS PAYABLE DECEMBER 31, 1980 Date of Interest Date of Principal Issue Rate Maturity Amount Special Assessment Improvement Bonds Improvement Bonds of 1968 10/1/68 January 1, 1982 4.60% 1/1/82 $ 40,000 January 1, 1983 and 1984; $40,000 4.70 1/1/83-84 80,000 January 1, 1985 and 1986; $40,000 4.80 1/1/85-86 80,000 January 1, 1987 through 1990; $40,000 4.90 1/1/87-90 160,000 Total Improvement Bonds of 1968 360,000 Improvement Bonds of 1973 6/1/73 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 350,000 Total Special Assessment Improvement Bonds $710,000 Note - January 1, 1981 maturities are considered matured December 31, 1980. DEBT SERVICE REQUIREMENTS DECEMBER 31, 1980 Special Assessment Improvement Bonds Principal Interest Total 1981 $105,000 $ 31,308 $136,308 1982 105,000 26,656 131,656 1983 105,000 21,932 126,932 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 Totals $710,000 $128,457 $838,457 Note - January 1 maturities are considered matured December 31 of the preceding year. -46-