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Home My WebLink About1981 CAFRCITY OF ST. ANTHONY ST. ANTHONY, MINNESOTA REPORT ON AUDIT YEAR ENDED DECEMBER 31, 1981 rr r C 0 N T E N Page INTRODUCTORY SECTION Comments 1- 4 FINANCIAL SECTI ACCOUNTANTS' REPORT 5- 6 RYnTRTT 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 Changes in 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 26 9 - Special Fire Fund 27 10 - Special Police Fund 27 11 - State Aid Maintenance Fund 28 12 - CETA Fund 28 13 - Community Development Fund 29 'DRIINS HEEOESON& r CONTENT S (Continued) Page SCHEDULE Capital Projects Funds 14 - Combining Balance Sheet 30 15 - Combining Statement of Revenue, Expenditures and Fund Balance 30 Special Assessment Funds 16 - Combining Balance Sheet 31 17 - Combining Statement of Revenue, Expenditures and Fund Balance 32 General Debt Service Fund 18 - Balance Sheet 33 19 - Statement of Revenue, Expenditures and Fund Balance 33 Liquor Fund 20 - Balance Sheet 34 21 - Statement of Income and Changes in 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 26 - Combining Statement of Changes in Fund Equity 40 27 - Combining Statement of Operations 41 28 - 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 46 Debt Service Requirements 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 $120,224 during 1981 increasing the fund balance to $548,739 at December 31, 1981, of which $26,968 is appropriated for severance payments. A condensed summary of revenue and expenditures compared with the budget for the year ended December 31, 1981 is shown below: $1,371,885 $1,307,413 -1- Budget Actual Revenue and Other Sources General Property Taxes $ 388,168 $ 391,167 Licenses and Permits 16,000 20,598 Intergovernmental Revenue 375,720 390,566 Fines and Forfeitures 20,000 54,508 Charges for Current Services 2,000 2,060 Other Revenue 46,000 74,738 Transfers from Other Funds 494,000 494,000 $1,341,888 $1,427,637 Expenditures General Government $ 345,545 $ 316,668 Public Safety 685,780 678,533 Public Works 321,560 303,911 Park Maintenance 19,000 8,301 $1,371,885 $1,307,413 -1- r. r 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. Revenue and other sources exceeded expenditures by $24,864, increasing the fund balance to $319,929 at December 31, 1981. 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 1981 was $39,173. During the year ended December 31, 1981, $50,000 was transferred to the General Fund. The fund balance was $38,900 at December 31, 1981. 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, $13,619 was received and $20,000 was transferred to the General Fund. At December 31, 1981 the fund balance was $29,293. 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 1981 was $26,814 and $35,000 was transferred to the General Fund. The fund balance was $58,006 at December 31, 1981. 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 $2,728 were made to repair and maintain City streets. The fund balance of $23,768 at December 31, 1981 is available for street maintenance. 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- 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 from the State of Minnesota for street construction are accounted for in this fund. The account receivable of $300,260 from the State of Minnesota is the City's construction allotment balance at December 31, 1981, which is unencumbered and available for approved projects. 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 Fund - This fund provides temporary financing of construction projects and the subsequent collection of assessments against benefited property owners. Debt Service Fund - 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 remaining funds were transferred to the General Reserve Fund, closing the fund. 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 1981 and 1980. -3- .DRI.., $. A-GE—N a DO r CITY OF ST. ANTHONY COMMENTS Liquor Fund (Continued) 1981 1980 Percent Percent Amount of Sales Amount of Sales Sales $2,687,405 100.00% $2,600,925 100.00% Cost of Sales 1,633,200 60.77 1,588,589 61.08 Gross Profit 1,054,205 39.23 1,012,336 38.92 Operating Expenses 654,718 24.36 639,645 24.59 Operating Income 399,487 14.87 372,691 14.33 Other Income 79,337 2.95 57,048 2.19 Other Expense (974) (.04) (1,830) (.07) Net Income $ 477,850 17.78% $ 427,909 16.45% Percent Percent of Net of Net Income Income Transfer to General Fund $ 375,000 78.48% $ 325,000 75.95% Equivalent Mill Rate of Transfer 7.39 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 1981 and 1980 is presented below: Water Fund Sewer Fund 1981 1980 1981 1980 Operating Income $147,443 $164,106 $292,337 $205,569 Operating Expenses 220,680 193,331 322,451 278,376 Operating Loss (73,237) 29,225) (30,114) (72,807) Other Income 36,574 33,149 13,775 17,199 Other Expense (465) (336) (12,725) (4,308) Net Income (Loss) ($ 37,128) $ 3,588 ($ 29,064) ($ 59,916) -4- r FINANCIAL SECTION FA r ADRIAN S. HELGESON $ CO. CERTIFIED PUBLIC ACCOUNTANTS 3710 1 DS CENTER,SO SOUTH EIGHTH STREET MINNEAPOLIS, MINNESOTA 55402 May 27, 1982 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, 1981, 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, 1981 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- .oa,.� ra 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, ir. 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. Certified Public Accountants .oaunE.�E.GEz a r r ASSETS Cash and Short -Term Investments Petty Cash and Change Funds Accounts Receivable Other Receivables Taxes Receivable Unremitted Delinquent Allowance for Delinquent Taxes Receivable Special Assessments Receivable Unremitted Delinquent Deferred Due from Other Funds Inventories, at Lower of Cost or Market Prepaid Insurance Property, Plant and Equipment, at Cost Less Accumulated Depreciation Construction in Progress Restricted Cash and Short -Term Investments Totals LIABILITIES AND FUND EQUITY Liabilities Accounts Payable Contracts Payable Due to Other Funds Accrued Payroll and Related Taxes Accrued Sales Tax Meter Deposits Deferred Revenue Bonds Payable Total Liabilities Fund Equity Contributed Capital Retained Earnings Reserved Unreserved Fund Balance Appropriated Unappropriated Total Fund Equity Totals See accompanying Notes to Financial Statements. -7- CITY OF ST. ANTHONY COMBINED BALANCE SHEET - ALL FUND TYPES DECEMBER 31. 1981 Governmental Fund Types 5,209 2,918 (2,918) 6,122 4,234 1,463 357,837 97,311 26,968 $598,537 $469,896 $341,886 $980,485 $ 23,211 $ 24,135 23,723 2,864 49,798 605,000 629,135 Proprietary Fund Types Liquor Utility Fund Funds $ 335,757 $ 172,032 88,175 1,350 341,080 14,412 103,658 164,669 EXHIBIT A Totals (Memorandum Only) 1981 $1,853,355 88,275 647,287 168,384 5,209 2,918 (2,918) 6,122 4,234 359,300 1,811 342,891 5,790 20,202 381,573 1,644,440 2,026,013 97,311 9,260 36,228 $ - $1,171,607 $2,092,400 $5,654,811 $ 79,838 $ 5,887 $ 133,071 9,025 14,606 103,469 2,501 51,018 132,352 191,758 35,249 14,606 51,018 135,216 605,000 974,160 1980 $1,963,780 108,275 379,385 174,016 2,876 4,920 (4,920) 215 3,979 434,803 50,159 321,943 33,263 2,107,210 37,549 $5,617,453 160,670 107,257 50,159 18,154 11,279 49,473 143,759 710,000 1,250,751 1,236,154 1,236,154 1,262,578 9,260 General 9,260 Special Capital Special Debt General Revenue Project Assessment Service Fund Funds Funds Funds Fund $440,379 $449,709 $ 41,626 $413,852 548,739 100 3513350 1,068,138 1,900,642 4,680,651 4,366,702 123,516 18,724 300,260 101,129 $2,092,400 $5,654,811 2,365 5,209 2,918 (2,918) 6,122 4,234 1,463 357,837 97,311 26,968 $598,537 $469,896 $341,886 $980,485 $ 23,211 $ 24,135 23,723 2,864 49,798 605,000 629,135 Proprietary Fund Types Liquor Utility Fund Funds $ 335,757 $ 172,032 88,175 1,350 341,080 14,412 103,658 164,669 EXHIBIT A Totals (Memorandum Only) 1981 $1,853,355 88,275 647,287 168,384 5,209 2,918 (2,918) 6,122 4,234 359,300 1,811 342,891 5,790 20,202 381,573 1,644,440 2,026,013 97,311 9,260 36,228 $ - $1,171,607 $2,092,400 $5,654,811 $ 79,838 $ 5,887 $ 133,071 9,025 14,606 103,469 2,501 51,018 132,352 191,758 35,249 14,606 51,018 135,216 605,000 974,160 1980 $1,963,780 108,275 379,385 174,016 2,876 4,920 (4,920) 215 3,979 434,803 50,159 321,943 33,263 2,107,210 37,549 $5,617,453 160,670 107,257 50,159 18,154 11,279 49,473 143,759 710,000 1,250,751 1,236,154 1,236,154 1,262,578 9,260 9,260 9,260 1,058,878 664,488 1,723,366 1,655,531 26,968 $300,260 97,149 424,377 366,936 521,771 $469,896 41,626 254,201 1,287,494 1,072,397 548,739 469,896 341,886 3513350 1,068,138 1,900,642 4,680,651 4,366,702 $598,537 $469,896 $341,886 $980,485 $ - $1,171,607 $2,092,400 $5,654,811 $5,617,453 r II CITY OF ST. ANTHONY EXHIBIT B 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 COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1981 Expenditures General Special Capital Special Debt Totals General Revenue Project Assessment Service (Memorandum Only) Fund Funds Funds Funds Fund 1981 1980 $ 391,167 306,639 291,804 Park Maintenance $ 391,167 $ 398,913 20,598 8,301 20,257 20,598 21,384 390,566 $108,627 $ 90,070 72,978 589,263 574,919 54,508 31,413 54,508 18,305 2,060 9,331 181 2,060 4,225 74,738 52,607 4,790 $117,236 $ 615 249,986 235,454 933,637 161,234 94,860 117,236 615 1,307,582 1,253,200 494,000 5,262 Transfers to Other Funds 499,262 541,364 1,427,637 166,496 94,860 117,236 615 1,806,844 1,794,564 Expenditures General Government 316,668 316,668 286,317 Public Safety 678,533 678,533 643,370 Public Works 303,911 2,728 306,639 291,804 Park Maintenance 8,301 8,301 20,257 Improvement Costs 31,965 41,013 72,978 142,485 Debt Service - Interest and Service Charges 31,413 31,413 36,031 Unallocated Expenditures 9,331 181 9,512 23,520 Total Expenditures 1,307,413 44,024 72,607 1,424,044 1,443,784 Other Uses Transfers to Other Funds 105,000 5,262 110,262 201,364 Total Expenditures and Other Uses 1,307,413 149,024 72,607 5,2621,534,306 1,645,148 Excess (Deficiency) of Revenue and Other Sources Over Expenditures and Other Uses 120,224 17,472 94,860 44,629 (4,647) 272,538 149,416 Fund Balance at Beginning of Year 428,515 452,424 247,026 306,721 4,647 1,439,333 1,289,917 Fund Balance at End of Year $ 548,739 $469,896 $341,886 $351,350 $ - $1,711,871 $1,439,333 See accompanying Notes to Financial Statements. :F -E IICITY OF ST. ANTHONY EXHIBIT C COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE - 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 YEAR ENDED DECEMBER 31, 1981 See accompanying Notes to Financial Statements. Totals General Fund Special Revenue Funds (Memorandum Only) Budget Actual Budget Actual Budget Actual $ 388,168 $ 391,167 $ 388,168 $ 391,167 16,000 20,598 16,000 20,598 375,720 390,566 $ 90,000 $108,627 465,720 499,193 20,000 54,508 20,000 54,508 2,000 2,060 2,000 2,060 46,000 74,738 52,607 46,000 127,345 847,888 933,637 90,000 161,234 937,888 1,094,871 494,000 494,000 5,262 494,000 499,262 1,341,888 1,427,637 90,000 166,496 1,431,888 1,594,133 345,545 316,668 345,545 316,668 685,780 678,533 685,780 678,533 321,560 303,911 9,000 2,728 330,560 306,639 19,000 8,301 19,000 8,301 31,965 31,965 9,331 9,331 1,371,885 1,307,413 9,000 44,024 1,380,885 1,351,437 105,000 105,000 105,000 105,000 1,371,885 1,307,413 114,000 149,024 1,485,885 1,456,437 ($ 29,997) 120,224 ($ 24,000) 17,472 ($ 53,997) 137,696 428,515 452,424 880,939 $ 548,739 $469,896 $1,018,635 See accompanying Notes to Financial Statements. CITY OF ST. ANTHONY FxuTRTT F COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1981 See accompanying Notes to Financial Statements. Mac ,oA,.NS'ELGEs &CO. Totals Liquor Utility (Memorandum Only) Fund Funds 1981 1980 Working Capital Provided By Operations Net Income (Loss) for Year $477,850 ($ 66,192) $411,658 $371,581 Adjustment for Items Not Affecting Working Capital Depreciation 35,598 80,315 115,913 115,592 Loss on Disposal of Equipment 465 465 336 Total Working Capital Provided By Operations 513,448 14,588 528,036 487,509 Transfer from General Reserve Fund 2,000 Proceeds from Disposal of Equipment 178 Decrease in Other Receivables 18,926 18,926 Increase in Deferred Revenue 21,300 Assets Contributed from Other Funds 18,753 18,753 5,475 Total Working Capital Provided 513,448 52,267 565,715 516,462 Working Capital Applied To Transfers to General Fund 375,000 14,000 389,000 342,000 Acquisition of Plant and Equipment 13,137 22,044 35,181 11,509 Increase in Other Asset 9,260 Increase in Other Receivables 30,806 Decrease in Other Liabilities 8,256 8,256 3,852 Total Working Capital Applied 388,137 44,300 432,437 397,427 Increase in Working Capital $125,311 $ 7,967 $133,278 $119,035 Changes in Working Capital By Components Increases (Decreases) in Current Assets Cash and Short -Term Investments $ 97,755 ($ 16,318) $ 81,437 $106,701 Petty Cash and Change Funds (20,000) (20,000) 23,000 Accounts Receivable 17,486 17,486 830 Other Receivables (792) 14,872 14,080 (11,533) Inventories 22,020 (1,072) 20,948 21,965 Prepaid Insurance (9,420) (3,641) (13,061) (31,501) 89,563 11,327 100,890 109,462 Increases (Decreases) in Current Liabilities Accounts Payable (43,670) 1,127 (42,543) 10,531 Accrued Payroll and Related Taxes 4,595 688 5,283 (22,967) Accrued Sales Tax 3,327 3,327 533 Meter Deposits 1,545 1,545 2,330 35,748) 3,360 (32,388) 9,573) Increase in Working Capital 125,311 7,967 133,278 119,035 Working Capital at Beginning of Year 551,994 234,573 786,567 667,532 Working Capital at End of Year $677,305 $242,540 $919,845 $786,567 See accompanying Notes to Financial Statements. Mac ,oA,.NS'ELGEs &CO. f CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 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 and reflect practices common to local governmental units, 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 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 of 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 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- .oa,.� r CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 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. Expendable supplies are expensed as purchased. Property, Plant and Equipment - Property, plant and equipment of the proprietary funds are recorded 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, 1981 was approximately $443,000 and is not recorded in the financial statements. The City has 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, results of operations or changes in financial position in conformity with generally accepted accounting principles. Interfund transactions have not been eliminated in the aggregation of this data. -13- CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 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, 1981: Liquor Fund Land $ 2,232 Land Improvements 8,920 Buildings and Structures 472,014 Furniture, Fixtures and Equipment 257,685 Distribution and Collection System 740,851 Less Accumulated Depreciation 359,278 $381,573 Note 3. McCTODOlitan Waste Control Commission Water Fund $ 2,000 5,006 665,202 97,198 1,467,523 2,236,929 1,207,060 Sewer Fund $ 3,645 9,000 63,637 1,046,615 1,122,897 508,326 $1,029,869 $ 614,571 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. Revenue will be recorded as credits are received from the Commission. Deferred revenue is recorded for the remaining balance due to the uncertainty of when credits will be issued to the City. 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 operations as received. -14- .owI.n s..E.�ESDN a Co. CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 Note 4. Bonded Indebtedness The City has special assessment improvement bonds outstanding at December 31, 1981. These bonds are payable primarily from the collection of special assessments with any deficiency to be provided for by general property taxes. During 1981 it was determined that sufficient funds were available to extinguish all debt service payments required in 1982. As a result, property taxes levied for debt retirement collectible in 1982 have been cancelled. In addition, no property taxes were collected for debt retirement in 1981. 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 1982-1990 1982-1985 Interest Rates Amount 4.70-4.90% 4.35-4.50% $320,000 285,000 $605,000 The following is a summary of bond transactions for the year ended December 31, 1981: Payable at Payable at January 1, December 31, 1981 Issued Redeemed 1981 Special Assessment Improvement Bonds $710,000 $ - $105,000 $605,000 Scheduled maturities of bonded indebtedness for each of the next five years are as follows: 1982 - $105,000; 1983 - $105,000; 1984 - $105,000; 1985 - $130,000; and 1986 - $40,000. Note 5. Contributed Capital 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. -15- CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 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 $101,459 for the year ended December 31, 1981. 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 a lease agreement which expires August 1986. The lease requires annual rental payments of $36,000. In addition, the City leases space for its Apache Liquor store. The lease, expiring November 1985, requires annual rentals of $15,990 plus the pro rata share of common center expense. -16- .DWS.. s HE,IG—. a Co. CITY OF ST. ANTHONY SCHEDULE 1 GENERAL FUND BALANCE SHEET DECEMBER 31, 1981 AND 1980 ASSETS 1981 1980 Cash and Short -Term Investments $440,379 $422,980 Petty Cash and Change Fund 100 100 Due from State of Minnesota 108,338 34,025 Accounts Receivable 15,178 5,144 Taxes Receivable 26,968 28,289 Unremitted 5,209 2,876 Delinquent 2,918 4,920 Allowance for Delinquent Taxes Receivable (2,918) (4,920) Accrued Interest Receivable 2,365 3,151 Restricted Cash and Short -Term Investments (Severance) 26,968 28,289 Totals $598,537 $462,540 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 23,211 $ 18,963 Accrued Payroll and Related Taxes 23,723 11,911 Deferred Revenue 2,864 3,151 Total Liabilities 49,798 34,025 Fund Balance Appropriated for Severance Payments 26,968 28,289 Unappropriated 521,771 400,226 Total Fund Balance 548,739 428,515 Totals $598,537 $462,540 -17- CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Revenue and Other Sources 1981 Budget Actual $1,341,888 $1,427,637 envn n,n c n 1980 Actual $1,325,947 Expenditures 1,371,885 1,307,413 1,233,982 Excess (Deficiency) of Revenue and Other Sources Over Expenditures (29,997) 120,224 91,965 Fund Balance at Beginning of Year 428,515 428,515 336,550 Fund Balance at End of Year $ 398,518 $ 548,739 $ 428,515 -18- CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31. 1981 AND 1980 SCHEDULE 3 Chant 1 -19- 1981 1980 Budget Actual Actual General Property Taxes Taxes $ 369,650 $ 382,890 Fiscal Disparities Distribution 19,106 14,392 $ 385,668 388,756 397,282 Penalties and Interest on Taxes 2,500 2,411 1,610 388,168 391,167 398,892 Licenses and Permits Licenses 8,000 8,175 8,780 Permits 8,000 12,423 12,604 16,000 20,598 21,384 Intergovernmental Revenue State Property Tax Relief Fund - Homestead Credit 135,170 135,172 115,480 Local Government Aid 230,900 230,924 243,184 Attached Machinery Aid 1,000 972 1,065 Other State Grants and Aid Police - Bike Safety and Training 3,550 2,880 Civil Defense 4,000 4,427 4,666 Shade Tree 615 Energy Audits 2,431 3,580 County Aid - Street Maintenance 4,650 8,045 6,069 Metro Council Section 8 Housing Grant 3,540 2,151 Planning Assistance Grant 1,505 635 375,720 390,566 380,325 Fines and Forfeitures 20,000 54,508 18,305 Charges for Current Services 2,000 2,060 4,225 -19- CITY OF ST. ANTHONY SCHEDULE 3 GENERAL FUND Sheet 2 STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1981 AND 1980 Other Revenue Interest Earned Rental of Property Sale of Property and Equipment Other Refunds and Reimbursements Independent School District No. 282 Labor and Supplies Administrative Fees Insurance Other Total Revenue Other Sources Transfers from Other Funds General Reserve Fund Revenue Sharing Fund Special Fire Fund Special Police Fund CETA Fund Capital Improvement Fund Liquor Fund Water Fund Sewer Fund Total Other Sources Total Revenue and Other Sources -20- 1981 6,320 1980 Budget Actual Actual $ 25,000 $ 38,161 $ 25,627 4,000 5,089 4,825 3,000 3,358 2,227 3,000 3,138 2,974 4,000 6,320 4,121 5,000 9,322 553 •2,000 7,965 1,244 1,385 1,116 46,000 74,738 42,687 847,888 933,637 865,818 11,700 50,000 50,000 47,454 20,000 20,000 15,000 35,000 35,000 25,000 8,052 10,923 375,000 375,000 325,000 7,000 7,000 8,500 7,000 7,000 8,500 494,000 494,000 460,129 $1,341,888 $1,427,637 $1,325,947 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1981 AND 1980 General Government Mayor and Council Personal Services Supplies Contracted Services and Other Charges Contingency Management Personal Services Supplies 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 SCHEDULE 4 Sheet 1 1981 1980 Budget Actual Actual $ 13,040 $ 12,471 $ 12,557 60 42 55 3,665 2,275 2,572 25,000 15,316 16,284 41,765 30,104 31,468 64,175 58,012 55,346 125 33 Engineering - Contracted Services 8,375 2,434 3,099 72,675 60,479 58,445 620 525 120 75 83 117 300 310 2,180 995 918 2,417 26,590 27,394 23,531 5,500 5,041 4,339 58,300 52,578 53,906 90,390 85,013 81,776 4,900 4,625 3,900 Assessing Personal Services 2,075 2,103 1,534 Contracted Services and Other Charges 15,312 15,141 13,657 17,387 17,244 15,191 Legal - Contracted Services 30,600 28,469 25,575 Engineering - Contracted Services 1,438 748 1,662 Planning and Zoning - Other Charges 515 326 570 General Government Buildings Personal Services 19,380 19,230 16,116 Supplies 850 644 778 Contracted Services and Other Charges 61,950 63,605 47,951 Capital Outlay 2,700 5,263 468 84,880 88,742 65,313 Total General Government 345,545 316,668 286,317 -21- CITY OF ST. ANTHONY SCHEDULE 4 GENERAL FUND Sheet 2 STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1981 AND 1980 -22- .oa,.I S "ELGEzor s 1981 1980 Budget Actual Actual Public Safety Civil Defense Personal Services $ 11,465 $ 11,221 $ 7,756 Supplies 150 6 146 Contracted Services and Other Charges 1,010 825 371 Capital Outlay 1,000 313 730 13,625 12,365 9,003 Police Protection Personal Services 369,190 368,428 333,232 Supplies 4,175 3,869 4,176 Contracted Services and Other Charges 18,925 17,650 11,125 Capital Outlay 14,430 14,302 14,532 Bike Safety Program 3,230 2,750 406,720 407,479 365,815 Fire Protection Personal Services 231,145 228,333 242,923 Supplies 4,160 3,679 4,276 Contracted Services and Other Charges 15,450 13,740 6,798 Capital Outlay 1,000 777 3,754 251,755 246,529 257,751 Protective Inspection Personal Services 10,730 10,487 8,863 Contracted Services and Other Charges 900 175 616 11,630 10,662 9,479 Animal Control - Contracted Services 2,050 1,498 1,322 Total Public Safety 685,780 678,533 643,370 Public Works Street Maintenance Personal Services 163,000 161,103 149,283 Supplies 31,860 24,643 23,763 Contracted Services and Other Charges 5,550 4,999 5,102 Capital Outlay 11,000 10,965 7,812 211,410 201,710 185,960 Maintenance Garage Personal Services 25,500 25,358 22,818 Supplies 35,500 33,277 40,974 Contracted Services and Other Charges 4,000 3,504 4,159 Capital Outlay 6,600 6,436 71,600 68,575 67,951 Street Lighting - Contracted Services 20,033 20,251 15,686 -22- .oa,.I S "ELGEzor s CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31. 1981 AND 1980 SCHEDULE 4 Sheet 3 Total Expenditures -23- $1,371,885 $1,307,413 $1,233,982 ADRIAN..„E.G.so„ a=. 1981 1980 Budget Actual Actual Public Works (Continued) Storm Sewer Supplies $ 800 $ 199 $ 161 Contracted Services and Other Charges 1,650 665 1,259 2,450 864 1,420 Tree Care and Weed Inspection Personal Services 10,850 10,464 9,328 Supplies 700 507 728 Contracted Services and Other Charges 4,017 1,309 2,265 Capital Outlay 500 231 700 16,067 12,511 13,021 Total Public Works 321,560 303,911 284,038 Park Maintenance Personal Services 1,000 293 628 Supplies 2,550 1,060 3,056 Contracted Services and Other Charges 3,450 3,008 2,628 Capital Outlay 12,000 3,940 13,945 Total Park Maintenance 19,000 8,301 20,257 Total Expenditures -23- $1,371,885 $1,307,413 $1,233,982 ADRIAN..„E.G.so„ a=. r CITY OF ST. ANTHONY SCHEDULE 5 SPECIAL REVENUE FUNDS r COMBINING BALANCE SHEET DECEMBER 31, 1981 AND 1980 -24- ADRIAN & NEIDERDN a CO General Revenue Special Special State Aid Community Reserve Sharing Fire Police Maintenance Development Combined Fund Fund Fund Fund Fund Fund 1981 1980 ASSETS - Cash and Short -Term Investments (Deficit) $311,254 $32,272 $29,293 $58,006 $23,768 ($4,884) $449,709 $435,981 Accounts Receivable 7,212 6,628 4,884 18,724 27,720 Special Assessments Receivable - Deferred 1,463 1,463 1,707 Totals $319,929 $38,900 $29,293 $58,006 $23,768 $ - $469,896 $465,408 LIABILITY AND FUND BALANCE Liability - Accounts Payable $ 12,984 Fund Balance - Unappropriated $319,929 $38,900 $29,293 $58,006 $23,768 $469,896 452,424 Totals $319,929 $38,900 $29,293 $58,006 $23,768 $ - $469,896 $465,408 -24- ADRIAN & NEIDERDN a CO CITY OF ST. ANTHONY SCHEDULE 6 SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Expenditures Public Works - Street Maintenance Supplies Contracted Services Other Expenditures Cancellation of Assessments Improvement Costs Administrative Total Expenditures Other Uses Transfers to Other Funds General Fund Sewer Fund Total Other Uses 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 -25- 2,728 4,712 2,728 3,054 4,837 20,081 General Revenue Special Special State Aid Community 48,241 9 Reserve Sharing Fire Police Maintenance Development Combined 9 Fund Fund Fund Fund Fund Fund 1981 1980 Revenue 105,000 107,206 - Intergovernmental Revenue 2,000 50,000 20,000 35,000 Federal Grants 105,000 109,206 20,081 50,009 20,000 35,000 2,728 21,206 Revenue Sharing 170,974 $39,173 (8,034) (3,923) (3,161) 7,726 $ 39,173 $ 42,665 CETA 295,065 46,934 33,216 61,167 16,042 452,424 1,268 Community Development $38,900 $29,293 $58,006 $23,768 $ - $21,206 21,206 16,580 State Grants Insurance Premium Tax $13,619 $26,814 40,433 40,307 Street Maintenance Allotment $ 7,815 7,815 7,980 Total Intergovernmental Revenue 39,173 13,619 26,814 7,815 21,206 108,627 108,800 Other Revenue Tax Forfeit Sale $ 1,478 1,478 821 Interest on Assessments 137 137 156 Interest Earned 38,068 2,802 2,458 5,025 2,639 50,992 45,625 Total Other Revenue 39,683 2,802 2,458 5,025 2,639 52,607 46,602 Total Revenue 39,683 41,975 16,077 31,839 10,454 21,206 161,234 155,402 Other Sources Transfer from General Debt Service Fund 5,262 5,262 Total Revenue and Other Sources 44,945 41,975 16,077 31,839 10,454 21,206 166,496 155,402 Expenditures Public Works - Street Maintenance Supplies Contracted Services Other Expenditures Cancellation of Assessments Improvement Costs Administrative Total Expenditures Other Uses Transfers to Other Funds General Fund Sewer Fund Total Other Uses 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 -25- 2,728 4,712 2,728 3,054 4,837 20,081 11,884 31,965 48,241 9 9,322 9,331 924 20,081 9 2,728 21,206 44,024 61,768 50,000 20,000 35,000 105,000 107,206 2,000 50,000 20,000 35,000 105,000 109,206 20,081 50,009 20,000 35,000 2,728 21,206 149,024 170,974 24,864 (8,034) (3,923) (3,161) 7,726 17,472 (15,572) 295,065 46,934 33,216 61,167 16,042 452,424 467,996 $319,929 $38,900 $29,293 $58,006 $23,768 $ - $469,896 $452,424 CITY OF ST. ANTHONY SCHEDULE 7 GENERAL RESERVE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31. 1981 AND 1980 WC 1981 1980 Budget Actual Actual Revenue Tax Forfeit Sale 1,478 $ 821 Interest on Assessments 137 156 Interest Earned 38,068 32,735 Total Revenue 39,683 33,712 Other Sources Transfer from General Debt Service Fund 5,262 Total Revenue and Other Sources 44,945 33,712 Expenditures Cancellation of Assessments 4,837 Improvement Costs 20,081 32,167 Total Expenditures 20,081 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 20,081 50,704 Excess (Deficiency) of Revenue and Other Sources Over Expenditures and Other Uses 24,864 (16,992) Fund Balance at Beginning of Year $295,065 295,065 312,057 Fund Balance at End of Year $295,065 $319,929 $295,065 CITY OF ST. ANTHONY SCHEDULE 8 REVENUE SHARING FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 1981 1980 Budget Actual Actual Revenue Federal Grant - U.S. Treasury Revenue Sharing Grant $ 40,000 $ 39,173 $ 42,665 Interest Earned 2,802 3,133 Total Revenue 40,000 41,975 45,798 Expenditures Contracted Services and Other Charges 9 418 Other Uses Transfer to General Fund 50,000 50,000 47,454 Total Expenditures and Other Uses 50,000 50,009 47,872 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (10,000) (8,034) (2,074) Fund Balance at Beginning of Year 46,934 46,934 49,008 Fund Balance at End of Year $ 36,934 $ 38,900 $ 46,934 WC r CITY OF ST. ANTHONY SCHEDULE 9 SPECIAL FIRE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 CITY OF ST. ANTHONY SPECIAL POLICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 SCHEDULE 10 1981 1980 Budget Actual Actual Revenue State Aid - Insurance Premium Tax $16,000 $13,619 $15,454 Interest Earned 2,458 2,562 Total Revenue 16,000 16,077 18,016 Expenditures and Other Uses Transfer to General Fund 20,000 20,000 15,000 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (4,000) (3,923) 3,016 Fund Balance at Beginning of Year 33,216 33,216 30,200 Fund Balance at End of Year $29,216 $29,293 $33,216 CITY OF ST. ANTHONY SPECIAL POLICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 SCHEDULE 10 -27- 1981 1980 Budget Actual Actual Revenue State Aid - Insurance Premium Tax $26,000 $26,814 $24,853 Interest Earned 5,025 5,149 Total Revenue 26,000 31,839 30,002 Expenditures and Other Uses Transfer to General Fund 35,000 35,000 25,000 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (9,000) (3,161) 5,002 Fund Balance at Beginning of Year 61,167 61,167 56,165 Fund Balance at End of Year $52,167 $58,006 $61,167 -27- CITY OF ST. ANTHONY SCHEDULE 11 STATE AID MAINTENANCE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 -28- 1981 1980 Budget Actual Actual Revenue State Aid - Street Maintenance Allotment $ 8,000 $ 7,815 $ 7,980 Interest Earned 2,639 1,590 Total Revenue 8,000 10,454 9,570 Expenditures Supplies 6,000 4,712 Contracted Services 3,000 2,728 3,054 Total Expenditures 9,000 2,728 7,766 Excess (Deficiency) of Revenue Over Expenditures (1,000) 7,726 1,804 Fund Balance at Beginning of Year 16,042 16,042 14,238 Fund Balance at End of Year $15,042 $23,768 $16,042 CITY OF ST. ANTHONY SCHEDULE 12 CETA STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 1981 1980 Budget Actual Actual Revenue Federal Grant - CETA $ 1,268 Interest Earned 456 Total Revenue 1,724 Expenditures and Other Uses Transfer to General Fund 8,052 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (6,328) Fund Balance at Beginning of Year 6,328 Fund Balance at End of Year -28- II CITY OF ST. ANTHONY SCHEDULE 13 COMMUNITY DEVELOPMENT FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Revenue Federal Grant - Community Development Expenditures Improvement Costs Administrative Total Expenditures Excess of Revenue Over Expenditures Fund Balance at Beginning of Year Fund Balance at End of Year -29- Budget 1981 Actual $21,206 11,884 9,322 21,206 1980 Actual $16,580 16,074 506 16,580 CITY OF ST. ANTHONY CAPITAL PROJECT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1981 AND 1980 ASSETS Cash and Short -Term Investments Due from State of Minnesota Totals LIABILITY AND FUND BALANCE Liability - Due to Special Assessment Fund Fund Balance Appropriated Unappropriated Total Fund Balance Totals State Aid Construction Fund $ 41,626 300,260 $341,886 $300,260 41,626 341,886 $341,886 SCHEDULE 14 Combined 1981 1980 $ 41,626 $ 36,836 300,260 260,349 $341,886 $297,185 $ 50,159 $300,260 210,190 41,626 36,836 341,886 247,026 $341,886 $297,185 CITY OF ST. ANTHONY SCHEDULE 15 CAPITAL PROJECT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Revenue State Aid - Street Construction Allotment Interest Earned Other Total Revenue Expenditures and Other Uses Transfers to Other Funds General Fund Special Assessment Fund Total Expenditures and Other Uses State Aid Construction Fund $ 90,070 4,790 94,860 Combined 1981 1980 $ 90,070 $ 85,794 4,790 3,349 361 94,860 89,504 10,923 81,235 92,158 Excess (Deficiency) of Revenue Over Expenditures and Other Uses 94,860 94,860 (2,654) Fund Balance at Beginning of Year 247,026 247,026 249,680 Fund Balance at End of Year $341,886 $341,886 $247,026 -30- CITY OF ST. ANTHONY SCHEDULE 16 SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1981 AND 1980 Revolving Debt Service Combined Fund Fund 1981 1980 ASSETS Cash and Short -Term Investments (Deficit) ($202,339) $616,191 $413,852 $ 636,984 Accounts Receivable 101,129 178,264 101,129 15,168 336,182 Special Assessments Receivable 306,721 Totals $ 39,303 $941,182 $980,485 Unremitted 6,122 6,122 215 Delinquent 196 4,038 4,234 3,979 Deferred 43,006 314,831 357,837 433,096 Due from State Aid Construction Fund 50,159 Construction in Progress 97,311 97,311 Totals $ 39,303 $941,182 $980,485 $1,124,433 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 24,135 $ 24,135 $ 455 Contracts Payable 107,257 Bonds Payable $605,000 605,000 710,000 Total Liabilities 24,135 605,000 629,135 817,712 Fund Balance Appropriated 97,149 97,149 128,457 Unappropriated 15,168 239,033 254,201 178,264 Total Fund Balance 15,168 336,182 351,350 306,721 Totals $ 39,303 $941,182 $980,485 $1,124,433 C93C CITY OF ST. ANTHONY SCHEDULE 17 SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Expenditures Improvement Costs Revolving Debt Service Combined 94,244 Fund Fund 1981 1980 Revenue Interest on Bonds Fund 31,308 31,308 General Property Taxes Service Charges $336,182 105 $ 21 Tax Forfeit Sale Other $ 15,190 $ 15,190 2,683 Special Assessments Total Expenditures 41,013 31,594 49,741 Interest on Assessments $ 4,779 26,127 30,906 32,594 Interest Earned 633 69,808 70,441 56,835 Other Expenditures 699 699 132 Total Revenue 5,412 111,824 117,236 142,006 Other Sources Transfer from State Aid Construction Fund 81,235 Total Revenue and Other Sources 5,412 111,824 117,236 223,241 Expenditures Improvement Costs 41,013 at 41,013 94,244 Cancellation of Assessments 306,721 131 131 17,707 Interest on Bonds Fund 31,308 31,308 35,926 Service Charges $336,182 105 105 105 Other 50 50 52 Total Expenditures 41,013 31,594 72,607 148,034 Excess (Deficiency) of Revenue and Other Sources Over Expenditures (35,601) 80,230 44,629 75,207 Fund Balance at Beginning of Year 50,769 255,952 306,721 231,514 Fund Balance at End of Year $15,168 $336,182 $351,350 $306,721 -32- CITY OF ST. ANTHONY GENERAL DEBT SERVICE FUND BALANCE SHEET DECEMBER 31. 1981 AND 1980 SCHEDULE 18 1981 1980 ASSETS Cash and Short -Term Investments $ - $4,647 FUND BALANCE Fund Balance - Unappropriated $ - $4,647 CITY OF ST. ANTHONY GENERAL DEBT SERVICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1981 AND 1980 Revenue Interest Earned Expenditures and Other Uses Transfer to General Reserve Fund Excess (Deficiency) of Revenue Over Expenditures and Other Uses Fund Balance at Beginning of Year Fund Balance at End of Year -33- SCHEDULE 19 1981 1980 $ 615 $ 470 5,262 (4,647) 470 4,647 4,177 $ - $4,647 CITY OF ST. ANTHONY SCHEDULE 20 LIQUOR FUND BALANCE SHEET DECEMBER 31, 1981 AND 1980 ASSETS 1981 1980 Current Assets Cash and Short -Term Investments $ 335,757 $ 238,002 Petty Cash and Change Funds 88,175 108,175 Accrued Interest Receivable 1,350 2,142 Inventory of Merchandise, at Lower of Cost or Market 341,080 319,060 Prepaid Insurance 14,412 23,832 Total Current Assets 780,774 691,211 Property, Plant and Equipment - At Cost Land and Improvements 11,152 11,152 Building and Structures 472,014 468,089 Furniture, Fixtures and Equipment 257,685 248,473 740,851 727,714 Less Accumulated Depreciation 359,278 323,680 Total Property, Plant and Equipment 381,573 404,034 Other Asset Restricted Cash and Short -Term Investments (Severance) 9,260 9,260 Totals $1,171,607 $1,104,505 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 79,838 $ 123,508 Accrued Payroll and Related Taxes 9,025 4,430 Accrued Sales Tax 14,606 11,279 Total Current Liabilities 103,469 139,217 Fund Equity Retained Earnings Reserved for Severance Payments 9,260 9,260 Unreserved 1,058,878 956,028 Total Fund Equity 1,068,138 965,288 Totals $1,171,607 $1,104,505 -34- CITY OF ST. ANTHONY LIQUOR FUND STATEMENT OF INCOME AND CHANGES IN RETAINED EARNINGS YEARS ENDED DECEMBER 31, 1981 AND 1980 SCHEDULE 21 -35- 1981 1980 Percent Percent Store #1 Store #2 Total of Sales Total of Sales Sales $1,524,297 $1,163,108 $2,687,405 100.00% $2,600,925 100.00% Cost of Sales 891,266 741,934 1,633,200 60.77 1,588,589 61.08 Gross Profit 633,031 421,174 1,054,205 39.23 1,012,336 38.92 Operating Expenses 396,346 258,372 654,718 24.36 639,645 24.59 Operating Income 236,685 162,802 399,487 14.87 372,691 14.33 Other Income Commissions 21,433 4,968 26,401 .98 21,016 .81 Check Cashing 15,499 3,735 19,234 .71 22,983 .88 Interest Earned 16,498 16,498 32,996 1.23 11,966 .46 Miscellaneous 327 379 706 .03 1,083 .04 Total Other Income 53,757 25,580 79,337 2.95 57,048 2.19 290,442 188,382 478,824 17.82 429,739 16.52 Other Expense Miscellaneous 251 723 974 .04 1,830 .07 Net Income $ 290,191 $ 187,659 477,850 17.78% 427,909 16.45% Retained Earnings at Beginning of Year 965,288 862,379 Transfer to General Fund (375,000) (325,000) Retained Earnings at End of Year $1;068,138 $ 965,288 -35- ( I CITY OF ST. ANTHONY SCHEDULE 22 LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1981 AND 1980 1981 Working Capital Provided By Operations Net Income for Year $477,850 Adjustment for Item Not Affecting Working Capital Depreciation 35,598 Total Working Capital Provided 513,448 Working Capital Applied To Transfer to General Fund Acquisition of Equipment Increase in Other Asset 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 Receivable 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 9011 375,000 13,137 388,137 $125,311 $ 97,755 (20,000) (792) 22,020 (9,420) 89,563 (43,670) 4,595 3,327 35,748) 125,311 551,994 $677,305 1980 $427,909 34,487 462,396 325,000 2,943 9,260 337,203 $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 CITY OF ST. ANTHONY SCHEDULE 23 LIQUOR FUND STATEMENT OF GROSS PROFIT YEARS ENDED DECEMBER 31, 1981 AND 1980 Cost of Gross Percent Sales Sales Profit of Sales 1981 Store No. 1 Off Sale Liquor $ 328,175 $260,616 $ 67,559 20.59% Wine 151,107 104,246 46,861 31.01 Beer 448,152 356,499 91,653 20.45 Other 35,410 14,201 21,209 59.90 On Sale 512,851 143,640 369,211 71.99 Speakeasy 48,602 12,064 36,538 75.18 Totals $1,524,297 $891,266 $633,031 Store No. 2 Off Sale Liquor $ 348,021 $269,895 $ 78,126 22.45% Wine 161,077 109,874 51,203 31.79 Beer 373,305 286,167 87,138 23.34 Other 29,375 11,293 18,082 61.56 On Sale 251,330 64,705 186,625 74.25 Totals $1,163,108 $741,934 $421,174 1980 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 Off 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- CITY OF ST. ANTHONY SCHEDULE 24 LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEARS ENDED DECEMBER 31, 1981 AND 1980 1981 1980 Store #1 Store #2 Total Total Salaries On Sale $102,931 $ 51,103 $154,034 $144,484 Off Sale 63,134 56,032 119,166 113,102 Custodians 22,279 929 22,279 20,855 Managers 26,894 26,894 53,788 47,990 Bookkeepers 15,045 15,045 30,090 27,088 Employees' Insurance 7,130 5,215 12,345 10,565 Pension Contributions 21,752 14,504 36,256 32,440 Unemployment Compensation 1,500 1,850 3,350 330 Personal Services 259,165 168,793 427,958 396,854 Laundry 3,222 1,972 5,194 4,832 On Sale Supplies 4,955 1,610 6,565 5,681 Off Sale Supplies 3,896 2,906 6,802 7,011 Cleaning Supplies 1,447 2,250 3,697 2,780 Office Expense 2,657 2,670 5,327 4,155 Supplies and Related Costs 16,177 11,408 27,585 24,459 Rentals and Leases 489 17,332 17,821 17,969 Utilities 16,888 8,673 25,561 24,454 Telephone 886 929 1,815 1,684 Sanitation 1,215 1,150 2,365 2,128 Insurance 29,395 20,891 50,286 76,543 Security 1,386 1,186 2,572 1,712 Advertising and Decorating 2,904 2,592 5,496 2,668 Accounting and Other 1,500 1,850 3,350 1,600 Music 24,840 24,840 24,165 Contracted Services 79,503 54,603 134,106 152,923 Repairs, Maintenance and Janitorial 13,033 13,182 26,215 28,049 Depreciation 26,634 8,964 35,598 34,487 Travel 1,365 1,358 2,723 2,639 Other 469 64 533 234 Other Charges 41,501 23,568 65,069 65,409 Totals $396,346 $258,372 $654,718 $639,645 -38- r CITY OF ST. ANTHONY SCHEDULE 25 II UTILITY FUNDS ASSETS Current Assets Cash and Short -Term Investments (Deficit) Accounts Receivable Other Receivables Inventory of Supplies, at Lower of Cost or Market Prepaid Insurance Total Current Assets Property, Plant and Equipment - At Cost Land and Improvements Building and Structures Distribution and Collection System Equipment Less Accumulated Depreciation Total Property, Plant and Equipment Other Receivables Metropolitan Waste Control Commission Totals LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Meter Deposits Total Current Liabilities Other Liabilities Deferred Revenue Deferred Gain on Disposal of Property and Equipment - Metropolitan Waste Control Commission Total Other Liabilities Total Liabilities Fund Equity Contributed Capital Retained Earnings Total Fund Equity Totals -39- COMBINING BALANCE SHEET DECEMBER 31. 1981 AND 1980 Water Sewer Combined Fund Fund 1981 1980 $ 288,970 ($ 116,938) $ 172,032 $ 188,350 32,971 70,687 103,658 86,172 18,655 18,655 3,783 1,811 1,811 2,883 4,075 1,715 5,790 9,431 327,827 (25,881) 301,946 290,619 7,006 3,645 10,651 10,651 665,202 9,000 674,202 674,202 1,467,523 1,046,615 2,514,138 2,494,684 97,198 63,637 160,835 159,655 2,236,929 1,122,897 3,359,826 3,339,192 1,207,060 508,326 1,715,386 1,636,016 1,029,869 614,571 1,644,440 1,703,176 146,014 146,014 164,940 $1,357,696 $ 734,704 $2,092,400 $2,158,735 $ 3,564 $ 2,323 $ 5,887 $ 4,760 1,428 1,073 2,501 1,813 51,018 51,018 49,473 56,010 3,396 59,406 56,046 56,010 695,168 606,518 1,301,686 $1,357,696 17,050 115,302 132,352 135,748 540,986 57,970 598,956 $ 734,704 17,050 115,302 132,352 191,758 1,236,154 664,488 1,900,642 $2,092,400 21,300 119,308 140,608 196,654 1,262,578 699,503 1,962,081 $2,158,735 CITY OF ST. ANTHONY UTILITY FUNDS COMBINING STATEMENT OF CHANGES IN FUND EQUITY YEARS ENDED DECEMBER 31, 1981 AND 1980 Contributed Capital Balance at Beginning of Year Assets Contributed from Other Funds Redistribution of Depreciation from Retained Earnings Balance at End of Year Retained Earnings Balance at Beginning of Year Net Loss for Year Transfer from General Reserve Fund Redistribution of Depreciation to Contributed Capital Transfer to General Fund Balance at End of Year SCHEDULE 26 Water Sewer Combined Fund Fund 1981 1980 $720,170 $542,408 $1,262,578 $1,300,878 18,753 18,753 5,475 (25,002) (20,175) (45,177) (43,775) $695,168 $540,986 $1,236,154 $1,262,578 $625,644 $ 73,859 $ 699,503 (37,128) (29,064) (66,192) 25,002 (7,000) $606,518 -40- $ 727,056 (56,328) 2,000 20,175 45,177 43,775 (7,000) (14,000) $ 57,970 $ 664,488 (17,000) $ 699,503 f II CITY OF ST. ANTHONY SCHEDULE 27 UTILITY FUNDS COMBINING STATEMENT OF OPERATIONS YEARS ENDED DECEMBER 31, 1981 AND 1980 Operating Income Water Sales Sewer Charges Other Total Operating Income Operating Expenses Personal Services Supplies Contracted Services and Other Charges Disposal Charges Depreciation Total Operating Expenses Operating Loss Other Income Permits Interest Earned Miscellaneous Metropolitan Waste Control Commission Credits Received Refund of Prior Period's Disposal Charges Total Other Income Other Expense Interest Expense Loss on Disposal of Equipment Total Other Expense Net Loss -41- Water Sewer Combined Fund Fund 1981 1980 $144,218 $144,218 $161,605 $292,337 292,337 205,569 3,225 3,225 2,501 147,443 292,337 439,780 369,675 69,264 56,055 125,319 115,141 14,876 4,271 19,147 16,734 80,674 16,667 97,341 78,919 221,009 221,009 179,808 55,866 24,449 80,315 81,105 220,680 322,451 543,131 471,707 (73,237) (30,114) (103,351) (102,032) 315 60 36,008 29,884 251 687 13,028 13,028 36,574 13,775 36,663) T 16,339) 465 465 375 1,500 36,008 29,884 938 3,428 13,028 11,753 3,783 50,349 50,348 53,002) 51,684) 12,725 12,725 4,308 465 336 12,725 13,190 4,644 ($ 37,128)($ 29,064)($ 66,192)($ 56,328) r II CITY OF ST. ANTHONY SCHEDULE 28 UTILITY FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1981 AND 1980 Working Capital Provided By Operations Net Loss for Year Adjustment for Items Not Affecting Working Capital Depreciation Loss on Disposal of Equipment Working Capital Provided by (Applied to) Operations Transfer from General Reserve Fund Proceeds from Disposal of Equipment Decrease in Other Receivables Increase in Deferred Revenue Assets Contributed from Other Funds Total Working Capital Provided Working Capital Applied To Transfer to General Fund Acquisition of Plant and Equipment Increase in Other Receivables Decrease in Other Liabilities Total Working Capital Applied Increase (Decrease) in Working Capital Water Sewer Combined Fund Fund 1981 1980 ($ 37,128)($ 29,064)($ 66,192)($ 56,328) 55,866 24,449 80,315 81,105 465 (1,747) 465 336 19,203 (4,615) 14,588 25,113 Accounts Payable (469) 1,596 2,000 172 516 Meter Deposits 178 18,926 18,926 2,112 Increase (Decrease) in 21,300 8,912 18,753 18,753 5,475 19,203 33,064 52,267 54,066 7,000 7,000 14,000 17,000 3,291 18,753 22,044 8,566 30,806 8,256 8,256 3,852 10,291 34,009 44,300 60,224 $ 8,912 ($ 945) $ 7,967 ($ 6,158) Changes in Workin Capital B Components Increases Decreases in Current Assets Cash and Short -Term Investments $ 15,160 ($ 31,478)($ Accounts Receivable (2,034) 19,520 Other Receivables 14,872 Inventory (1,072) 14,872 Prepaid Insurance (1,894) (1,747) (3,641) 10,160 1,167 Increases (Decreases) in Current Liabilities Accounts Payable (469) 1,596 Accrued Payroll and Related Taxes 172 516 Meter Deposits 1,545 1,248 2,112 Increase (Decrease) in Working Capital 8,912 (945) Working Capital (Deficit) at Beginning of Year Working Capital (Deficit) at End of Year -42- 16,318)($ 7,276) 17,486 830 14,872 (9,100) (1,072) 1,200 (3,641) 533 11,327 13,813) 1,127 688 1,545 3,360 7,967 (6,261) (3,724) 2,330 (7,655) (6,158) 262,905 (28,332) 234,573 240,731 $271,817 ($ 29,277) $242,540 $234,573 ADRIAN R HE,GESON aw. STATISTICAL SECTION CITY OF ST. ANTHONY ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by Year of Collectibility) Assessed Valuations Assessed Valuations Contribution to Fiscal Disparities Pool Distribution from Fiscal Disparities Pool Taxable Valuations Tax Levies General Housing Redevelopment Authority Totals Mill Rates General Housing Redevelopment Authority Totals 1980 $45,290,605 (1,073,471) 1,295,993 $45,513,127 $ 509,892 1981 $50,751,519 (1,732,976) 1,716,990 $50,735,533 $ 519,988 $ 509,892 $ 519,988 -43- 1982 $56,543,303 (2,737,485) 2,574,446 $56,380,264 $ 590,607 3,013 $ 593,620 11.197 10.216 10.492 .056 11.197 10.216 10.548 CITY OF ST. ANTHONY TAX LEVIES AND COLLECTIONS SPECIAL ASSESSMENT LEVIES AND COLLECTIONS Percentage Current Percentage Prior of Total Total Year's Levy of Levy Years' Levy Total Collections Year Levy Collections Collected Collections Collections To Levy 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 1980 509,892 504,555 98.95 8,226 512,781 100.57 1981 520,810 519,020 99.66 3,454 522,474 100.32 SPECIAL ASSESSMENT LEVIES AND COLLECTIONS -44- ADRIAN S.,E,GE,e1 a Ea Percentage Current Percentage Prior of Total Total Year's Levy of Levy Years' Levy Total Collections Year Lem Collections Collected Collections Collections To Levy 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 1981 102,125 100,722 98.63 1,848 102,570 100.44 -44- ADRIAN S.,E,GE,e1 a Ea CITY OF ST. ANTHONY COMBINED SCHEDULE OF BONDED INDEBTEDNESS DECEMBER 31. 1981 Date Bonds Due in 1982 Interest Date of of Final Rates Issue Maturity Authorized Issued Redeemed Outstanding Principal Interest Bonded Indebtedness Special Assessment Improvement Bonds Improvement Bonds of 1968 4.70-4.90% 10/1/68 1/1/90 $ 960,000 $ 960,000 $ 640,000 $320,000 $ 40,000 $15,440 Improvement Bonds of 1973 4.35-4.50 6/1/73 3/1/85 675,000 675,000 390,000 285,000 65,000 11,216 Total Bonded Indebtedness $1,635,000 $1,635,000 $1,030,000 $605,000 $105,000 $26,656 -45- r CITY OF ST. ANTHONY BONDS PAYABLE DECEMBER 31, 1981 Date of Interest Date of Principal Issue Rate Maturity Amount Special Assessment Improvement Bonds Improvement Bonds of 1968 10/1/68 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 320,000 Improvement Bonds of 1973 6/1/73 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/l/85 90,000 Total Improvement Bonds of 1973 285,000 Total Special Assessment Improvement Bonds $605,000 Note - January 1, 1982 maturities are considered matured December 31, 1981. CITY OF ST. ANTHONY DEBT SERVICE REQUIREMENTS DECEMBER 31, 1981 Special Assessment Improvement Bonds Principal Interest Total 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 $605,000 $97,149 $702,149 Note - January 1 maturities are considered matured December 31 of the preceding year. -46-