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HomeMy WebLinkAbout1982 CAFRCITY OF ST. ANTHONY ST. ANTHONY, MINNESOTA REPORT ON AUDIT YEAR ENDED DECEMBER 31. 1982 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 - Combining Balance Sheet 7 B - Combined Statement of Revenue, Expenditures and Fund - Combining Statement of Balance - All Governmental Fund Types 25 8 C - Combined Statement of Revenue, Expenditures and Fund Balance - Budget and Actual - General and Special Revenue Fund Types 8 9 D - Combined Statement of Operations and Changes in Retained 9 Earnings - All Proprietary Fund Types 10 E - Combined Statement of Changes in Financial Position - All Proprietary Fund Types 11 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 - Community Development Fund 28 C O N T E N T S (Continued) SCHEDULE Page Capital Projects Funds 13 - Combining Balance Sheet 29 14 - Combining Statement of Revenue, Expenditures and Fund Balance 30 Special Assessment Funds 15 - Combining Balance Sheet 31 16 - Combining Statement of Revenue, Expenditures and Fund Balance 32 Liquor Fund 17 - Balance Sheet Balance Sheet 33 18 - Statement of Income and Changes in Retained Earnings 34 19 - Statement of Changes in Financial Position 35 20 - Statement of Gross Profit 36 21 - Statement of Operating Expenses 37 Utility Funds 22 - Combining Balance Sheet 38 23 - Combining Statement of Changes in Fund Equity 39 24 - Combining Statement of Operations 40 25 - Combining Statement of Changes in Financial Position 41 Agency Fund 26 - Balance Sheet 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 $98,208 during 1982 increasing the fund balance to $646,947 at December 31, 1982, of which $30,243 is appropriated for severance payments. A condensed summary of revenue and expenditures compared with the budget for the year ended December 31, 1982 is shown below: $1,431,562 $1,393,990 -1- Budget Actual Revenue and Other Sources General Property Taxes $ 458,279 $ 452,632 Licenses and Permits 14,000 30,228 Intergovernmental Revenue 404,543 389,165 Fines and Forfeitures 34,000 61,312 Charges for Current Services 2,000 1,773 Other Revenue 47,000 83,662 Transfers from Other Funds 448,640 473,426 $1,408,462 $1,492,198 Expenditures and Other Uses General Government $ 336,943 $ 326,115 Public Safety 728,149 712,743 Public Works 349;320 342,183 Park Maintenance 11,450 7,249 Transfers to Other Funds 5,700 5,700 $1,431,562 $1,393,990 -1- CITY OF ST. ANTHONY COMMENTS ial 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 $25,714, increasing the fund balance to $345,643 at December 31, 1982. 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 1982 was $28,134. During the year ended December 31, 1982 transfers of $20,000 and $14,600 were made to the General Fund and Capital Equipment Fund, respectively. The fund balance was $34,832 at December 31, 1982. Special Fire Fund - This fund previously accounted for the State of Minnesota insurance premium tax revenue received for the benefit of the City's fire department. The St. Anthony Firefighter's Relief Association, which was established during the year, now receives this revenue. As a result, $27,000 was transferred to the Capital Equipment Fund and the remaining $3,482 was transferred to the General Fund, closing the fund. Special Police Fund - The State of Minnesota Town Police Aid reimbursements have been accumulated for the benefit of the City's police department in this fund. The activities of this fund are now accounted for in the General Fund. Transfers of $51,298 to the General Fund and $9,000 to the Capital Equipment Fund were made to close the fund. State -Aid Maintenance Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street maintenance have been accumulated in this fund. During the year the activities of this fund and the remaining funds of $26,646 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- CITY OF ST. ANTHONY COMENTS ital 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 $221,553 from the State of Minnesota at December 31, 1982 is the City's construction allotment balance, which is unencumbered and available for approved projects. Capital Equipment Fund - This fund was established to account for the revenue required to finance the replacement of capital assets on a revolving basis. Transfers of $56,300 from other funds were received during the year. Revenue of $58,575 exceeded expenditures of $10,010, creating a fund balance of $48,565 available for future capital acquisitions. 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. 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 1982 and 1981. QED CITY OF ST. ANTHONY COMMENTS Liquor Fund (Continued) 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 of the Water and Sewer Funds for 1982 and 1981 is presented below: 1982 Fund 1981 Fund 1982 Percent 1982 Percent Operating Income Amount of Sales Amount of Sales Sales $2,472,619 100.00% $2,687,405 100.00% Cost of Sales 1,508,073 60.99 1,633,200 60.77 Gross Profit 964,546 39.01 13054,205 39.23 Operating Expenses 632,325 25.57 654,718 24.36 Operating Income 332,221 13.44 399,487 14.87 Other Income 109,502 4.43 79,337 2.95 Other Expense (1,807) (.08) (974) (.04) Net Income $ 439,916 17.79% S_477,850 17.78% Percent Percent of Net of Net Income Income Transfer to General Fund $ 365,000 82.97% $ 375,000 78.48% Equivalent Mill Rate of Transfer 6.47 7.39 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 of the Water and Sewer Funds for 1982 and 1981 is presented below: Agency Fund The Agency Fund accounts for assets held by the City as trustee for other organizations. The fund is custodial in nature and does not involve measurement of results of operations. 'Sin Water Fund Sewer Fund 1982 1981 1982 1981 Operating Income $182,630 $147,443 $309,041 $292,337 Operating Expenses 251,869 220,680 373,668 322,451 Operating Loss 69,239) T73,237) 64,627) 30,114) Other Income 35,506 36,574 46,311 13,775 Other Expense (452) (465) (14,340) (12,725) Net Loss ($ 34,185) ($ 37,128) ($ 32,656) ($ 29,064) Agency Fund The Agency Fund accounts for assets held by the City as trustee for other organizations. The fund is custodial in nature and does not involve measurement of results of operations. 'Sin FINANCIAL SECTION ADRIAN HELGESOM AND COMPANY Certified Public Accountants 3710 IDS Center 80 South 8th Street Minneapolis. MN 55402 June 3, 1983 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, 1982, 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, 1982 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- 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. .�--Q­Certified Public Accountants -7- CITY OF ST. ANTHONY EXHIBIT A COMBINED BALANCE SHEET - ALL FUND TYPES DECEMBER 31, 1982 Fiduciary Totals Governmental Fund Types Proprietary Fund Types Fund Type (Memorandum Only) Special Capital Special General Revenue Project Assessment Liquor Utility Agency ASSETS Fund Funds Funds Funds Fund Funds Fund 1982 1981 Cash and Short -Term Investments (Deficit) $588,831 $367,475 $ 93,403 $406,810 $ 420,926 $ 139,709 ($13,373) $2,003,781 $1,853,355 Petty Cash and Change Funds 100 88,175 88,275 88,275 Accounts Receivable 14,336 28,467 221,553 149,510 118,498 14,541 546,905 647,287 Other Receivables Taxes Receivable 146,011 146,011 164,669 Unremitted 3,197 Delinquent 7,588 3,197 5,209 Allowance for Delinquent Taxes Receivable (7,588) 7,588 2,918 Special Assessments Receivable (7,588) (2 918) > Unremitted 414 Delinquent 8,274 414 6,122 Deferred 1,212 389,686 8,274 4,234 Accrued Interest Receivable 33,010 5,847 390,898 359,300 Inventories, at Lower of Cost or Market 345,519 1,641 38,857 347,160 3,715 342,891 Prepaid Insurance Property, Plant and Equipment, at Cost Less 6,583 2,579 9,162 20,202 Accumulated Depreciation 361,532 1,593,474 1,955,006 2,026,013 Construction in Progress Restricted Cash and Short -Term Investments 30,243 9,260 97,311 39,503 36,228 Totals $669,717 $397,154 $314,956 $954,694 $1,237,842 $2,001,912 $ 1,168 $5,577,443 $5,654,811 LIABILITIES AND FUND EQUITY Liabilities Accounts Payable $ 2,112 $ 16,679 $ 5,767 $ 68,805 $ 349 $ 1,168 $ 94,880 $ 133,071 Accrued Payroll and Related Taxes 20,658 8,571 2,808 32,037 35,249 Accrued Sales Tax Meter Deposits 17,412 17,412 08 Deferred Revenue 52,693 52,693 51,0 Bonds Payable 119,261 119,261 135,216 Total Liabilities 22,770 16,679 500,000 505,767 94,788 175,111 1,168 500,000 816,283974,160 605,000 Fund Equity Contributed Capital Retained Earnings 1,190,227 1,190,227 1,236,154 Reserved Unreserved 9,260 9,260 9,260 Fund Balance 1,133,794 636,574 1,770,368 1,723,366 Appropriated 30,243 $221,553 70,494 322,290 424,377 Unappropriated 616,704 $380,475 93,403 378,433 1,469,015 1,287,494 Total Fund Equity 646,947 380,475 314,956 448,927 1,143,054 1,826,801 4,761,160 4,680,651 Totals $669,717 $397,154 $314,956 $954,694 $1,237,842 $2,001,912 $ 1,168 $5,577,443 $5,654,811 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. 1982 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 Debt Service - Interest and Service Charges 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 See accompanying Notes to Financial Statements. EXHIBIT B Special Capital Special Totals General Revenue Project Assessment (Memorandum Only) Fund Funds Funds Funds 1982 1981 $ 452,632 $ 452,632 $ 391,167 30,228 30,228 20,598 389,165 $ 59,615 $ 95,994 $202,603 747,377 589,263 61,312 61,312 54,508 1,773 1,773 2,060 83,662 48,048 8,756 358,029 498,495 249,986 1,018,772 107,663 104,750 560,632 1,791,817 1,307,582 473,426 56,300 187,024 716,750 499,262 1,492,198 107,663 161,050 747,656 2,508,567 1,806,844 326,115 326,115 316,668 712,743 712,743 678,533 342,183 10,010 352,193 306,639 7,249 7,249 8,301 29,267 3,269 623,176 655,712 72,978 26,810 26,810 31,413 3,468 93 3,561 9,512 1,388,290 32,735 13,279 650,079 2,084,383 1,424,044 5,700 164,349 174,701 344,750 110,262 1,393,990 197,084 187,980 650,079 2,429,133 1,534,306 98,208 (89,421) (26,930) 97,577 79,434 272,538 548,739 469,896 341,886 351,350 1,711,871 1,439,333 $ 646,947 $380,475 $314,956 $448,927 $1,791,305 $1,711,871 CITY OF ST. ANTHONY COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE - BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES YEAR ENDED DECEMBER 31. 1982 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 EXHIBIT C See accompanying Notes to Financial Statements. Totals General Fund Special Revenue Funds (Memorandum Only) Budget Actual Budget Actual Budget Actual $ 458,279 $ 452,632 $ 458,279 $ 452,632 14,000 30,228 14,000 30,228 404,543 389,165 $ 24,000 $ 59,615 428,543 448,780 34,000 61,312 34,000 61,312 2,000 1,773 2,000 1,773 47,000 83,662 48,048 47,000 131,710 959,822 1,018,772 24,000 107,663 983,822 1,126,435 448,640 473,426 448,640 473,426 1,408,462 1,492,198 24,000 107,663 1,432,462 1,599,861 336,943 326,115 336,943 326,115 728,149 712,743 728,149 712,743 349,320 342,183 349,320 342,183 11,450 7,249 11,450 7,249 29,267 29,267 3,468 3,468 1,425,862 1,388,290 32,735 1,425,862 1,421,025 5,700 5,700 127,240 164,349 132,940 170,049 1,431,562 1,393,990 127,240 197,084 1,558,802 1,591,074 ($ 23,100) 98,208 ($103,240) (89,421) ($ 126,340) 8,787 548,739 469,896 1,018,635 $ 646,947 $380,475 $1,027,422 See accompanying Notes to Financial Statements. CITY OF ST. ANTHONY EXHIBIT D COMBINED STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1982 See accompanying Notes to Financial Statements. -10- Totals Liquor Utility (Memorandum Only) Fund Funds 1982 1981 Sales and Coat of Sales - Sales $2,472,619 $2,472,619 $2,687,405 Cost of Sales 1,508,073 1,508,073 1,633,200 Gross Profit 964,546 964,546 1,054,205 Operating Income User Charges $488,234 488,234 436,555 Other 3,437 3,437 3,225 Gross Operating Income 491,671 491,671 439,780 Total Gross Profit and Operating Income 964,546 491,671 1,456,217 1,493,985 Operating Expenses Personal Services 441,280 141,881 583,161 553,277 Supplies 26,516 17,552 44,068 46,732 Contracted Services and Other Charges 129,026 123,887 252,913 260,918 Disposal Charges 259,479 259,479 221,009 Depreciation 35,503 82,738 118,241 115,913 Total Operating Expenses 632,325 625,537 1,257,862 1,197,849 Operating Income (Loss) 332,221 (133,866) 198,355 296,136 Other Income Commissions 23,992 23,992 26,401 Check Cashing 37,979 37,979 19,234 Credits and Refunds Received 45,285 45,285 13,028 Interest Earned 46,166 31,851 78,017 69,004 Miscellaneous 1,365 4,681 6,046 2,019 Total Other Income 109,502 81,817 191,319 129,686 441,723 (52,049) 389,674 425,822 Other Expense Interest Expense 14,340 14,340 12,725 Miscellaneous 1,807 452 2,259 1,439 Total Other Expense 1,807 14,792 16,599 14,164 Net Income (Loss) for Year 439,916 (66,841) 373,075 411,658 Retained Earnings at Beginning of Year 1,068,138 664,488 1,732,626 1,664,791 Redistribution of Depreciation to Contributed Capital 45,927 45,927 45,177 Transfers to General Fund (365,000) (7,000) (372,000) (389,000) Retained Earnings at End of Year $1,143,054 $636,574 $1,779,628$1,732,626 See accompanying Notes to Financial Statements. -10- CITY OF ST. ANTHONY LTEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES YEAR ENDED DECEMBER 31, 1982 Working Capital Provided By Operations Net Income (Loss) for Year Adjustment for Items Not Affecting Working Capital Depreciation (Gain) Loss on Disposal of Equipment Total Working Capital Provided By Operations Proceeds from Disposal of Equipment Decrease in Other Receivables Assets Contributed from Other Funds Total Working Capital Provided Working Capital Applied To Transfers to General Fund Acquisition of Plant and Equipment Decrease in Other Liabilities 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) Accounts Payable Accrued Payroll and Accrued Sales Tax Meter Deposits in Current Liabilities Related Taxes Increase (Decrease) in Working Capital Working Capital at Beginning of Year Working Capital at End of Year See accompanying Notes to Financial Statements. Doc Liquor Fund $439,916 35,503 (335) 475,084 335 475,419 365,000 15,462 380,462 $ 94,957 $ 85,169 4,497 4,439 (7,829) 86,276 (11,033) (454) 2,806 8,681) 94,957 677,305 $772,262 EXHIBIT E Totals Utility (Memorandum Only) Funds 1982 1981 ($ 66,841) 82,738 452 16,349 13,699 30,048 7,000 32,224 13,091 52,315 ($ 22,267) ($ 32,323) 14,840 (4,959) (170) (3,211) 25,823) (5,538) 307 1,675 3,556) (22,267) 242,540 $220,273 $373,075 118,241 117 491,433 335 13,699 505,467 372,000 47,686 13,091 432,777 $ 72,690 $ 52,846 14,840 (462) 4,269 (11,040) 60,453 (16,571) (147) 2,806 1,675 12,237) 72,690 919,845 $992,535 $411,658 115,913 465 528,036 18,926 18,753 565,715 389,000 35,181 8,256 432,437 $133,278 $ 81,437 (20,000) 17,486 14,080 20,948 (13,061) 100,890 (42,543) 5,283 3,327 1,545 32,388) 133,278 786,567 $919,845 CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1982 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 policies 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 three 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. Fiduciary Fund Type - The basis of accounting for this fund type is essentially the same as for governmental fund types. 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 unremitted taxes receivable. 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. dP.D CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1982 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 fund types 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, 1982 was approximately $485,000 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. 1982 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, 1982: Liquor Fund Land $ 2,232 Land Improvements 8,920 Buildings and Structures 475,461 Furniture, Fixtures and Equipment 268,600 Distribution and Collection System 755,213 Less Accumulated Depreciation 393,681 $361,532 Note 3. Metropolitan Waste Control Commission Water Fund $ 2,000 5,006 665,202 116,708 1,467,767 2,256,683 1,261,989 $ 994,694 Sewer Fund $ 3,645 9,000 69,337 1,046,615 1,128,597 529,817 $ 598,780 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- CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31. 1982 Note 4. Bonded Indebtedness The City has special assessment improvement bonds outstanding at December 31, 1982. These bonds are payable primarily from the collection of special assessments with any deficiency to be provided for by general property taxes. During 1982 it was determined that sufficient funds were available to extinguish all debt service payments required in 1983. As a result, property taxes levied for debt retirement collectible in 1983 have been cancelled. In addition, no property taxes were collected for debt retirement in 1982. 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 1983-1990 1983-1985 4.70-4.90% 4.40-4.50% Amount $280,000 220,000 $500,000 The following is a summary of bond transactions for the year ended December 31, 1982: Special Assessment Improvement Bonds Payable at January 1, 1982 Issued $605,000 $ - Payable at December 31, Redeemed 1982 $105,000 $500,000 Scheduled maturities of bonded indebtedness for each of the next five years are as follows: 1983 - $105,000; 1984 - $105,000; 1985 - $130,000; 1986 - $40,000; 1987 - $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. 1982 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 $110,270 for the year ended December 31, 1982. 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- CITY OF ST. ANTHONY SCHEDULE 1 GENERAL FUND BALANCE SHEET DECEMBER 31. 1982 AND 1981 ASSETS 1982 1981 Cash and Short -Term Investments $588,831 $440,379 Petty Cash and Change Fund 100 100 Due from State of Minnesota 108,338 Accounts Receivable 14,336 15,178 Taxes Receivable Unremitted 3,197 5,209 Delinquent 7,588 2,918 Allowance for Delinquent Taxes Receivable (7,588) (2,918) Accrued Interest Receivable 33,010 2,365 Restricted Cash and Short -Term Investments (Severance) 30,243 26,968 Totals $669,717 $598,537 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 2,112 $ 23,211 Accrued Payroll and Related Taxes 20,658 23,723 Deferred Revenue 2,864 Total Liabilities 22,770 49,798 Fund Balance Appropriated for Severance Payments 30,243 26,968 Unappropriated 616,704 521,771 Total Fund Balance 646,947 548,739 Totals $669,717 $598,537 -17- CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE YEARS ENDED DECEMBER 31. 1982 AND 1981 Revenue and Other Sources 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 -18- 1982 Budget Actual $1,408,462 $1,492,198 1,431,562 (23,100) 548,739 $ 525,639 1,393,990 98,208 548,739 $ 646,947 SCHEDULE 2 1981 Actual $1,427,637 1,307,413 120,224 428,515 $ 548,739 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31. 1982 AND 1981 SCHEDULE 3 Sheet 1 -19- 1982 1981 Budget Actual Actual General Property Taxes Taxes $ 425,136 $ 369,650 Fiscal Disparities Distribution 25,876 19,106 $ 455,779 451,012 388,756 Penalties and Interest on Taxes 2,500 1,620 2,411 458,279 452,632 391,167 Licenses and Permits Licenses 8,000 8,226 8,175 Permits 6,000 22,002 12,423 14,000 30,228 20,598 Intergovernmental Revenue State Property Tax Relief Fund - Homestead Credit 134,864 122,718 135,172 Local Government Aid 210,559 216,278 230,924 Attached Machinery Aid 1,000 945 972 Street Maintenance Aid 9,000 7,815 Insurance Premium Tax 40,000 28,225 Other State Grants and Aid Civil Defense 4,000 5,514 4,427 Energy Audits 2,431 Police - Bike Safety and Training 3,550 County Aid - Street Maintenance 5,120 6,740 8,045 Metro Council Section 8 Housing Grant 930 3,540 Planning Assistance Grant 1,505 404,543 389,165 390,566 Fines and Forfeitures 34,000 61,312 54,508 Charges for Current Services 2,000 1,773 2,060 -19- CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1982 AND 1981 Other Revenue Interest Earned Cable TV Franchise Fee 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 Revenue Sharing Fund Special Fire Fund Special Police Fund State Aid Maintenance Fund Liquor Fund Water Fund Sewer Fund Total Other Sources Total Revenue and Other Sources -20- SCHEDULE 3 Sheet 2 $1,408,462 $1,492,198 $1,427,637 1982 1981 Budget Actual Actual $ 25,000 $ 43,864 $ 38,161 15,000 7,000 7,168 5,089 1,000 428 3,358 2,000 2,679 3,138 4,000 4,694 6,320 4,000 2,828 9,322 4,000 5,950 7,965 1,051 1,385 47,000 83,662 74,738 959,822 1,018,772 933,637 20,000 20,000 50,000 3,482 20,000 30,000 51,298 35,000 26,640 26,646 365,000 365,000 375,000 7,000 7,000 7,000 7,000 448,640 473,426 494,000 $1,408,462 $1,492,198 $1,427,637 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1982 AND 1981 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 Assessing Personal Services Contracted Services and Other Charges Legal - Contracted Services Engineering - Contracted Services General Government Buildings Personal Services Supplies Contracted Services and Other Charges Capital Outlay Total General Government VAC 1982 Budget Actual SCHEDULE 4 Sheet 1 1981 Actual $ 13,045 $ 13,053 $ 12,471 60 50 42 5,415 4,714 2,275 15,195 14,903 15,316 33,715 32,720 30,104 67,420 65,904 58,012 125 33 4,350 7,227 2,434 71,895 73,131 60,479 2,000 1,972 525 150 125 83 450 185 310 2,600 2,282 918 28,925 28,022 27,394 6,000 5,556 5,041 57,155 45,837 57,203 92,080 79,415 89,638 2,250 2,108 2,103 16,188 14,851 15,141 18,438 16,959 17,244 28,000 30,299 28,469 2,340 2,370 1,074 21,075 21,521 19,230 850 842 644 63,550 66,310 63,605 2,400 266 5,263 87,875 88,939 88,742 336,943 326,115 316,668 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1982 AND 1981 Public Safety Civil Defense Personal Services Supplies Contracted Services Capital Outlay Police Protection Personal Services Supplies Contracted Services Capital Outlay Bike Safety Program 1982 Budget Actual $ 11,350 $ 12,367 150 141 and Other Charges 3,185 2,836 1,050 621 15,735 15,965 408,743 412,285 4,389 3,633 and Other Charges 30,065 21,701 1,509 686 Fire Protection Personal Services Supplies Contracted Services and Other Charges Capital Outlay Protective Inspection Personal Services Contracted Services and Other Charges Animal Control - Contracted Services Total Public Safety Public Works Street Maintenance Personal Services Supplies Contracted Services and Other Charges Capital Outlay Maintenance Garage Personal Services Supplies Contracted Services Capital Outlay and Other Charges -22- 444,706 438,305 236,700 4,955 8,747 5,731 256,133 9,375 650 10,025 1,550 728,149 178,120 43,100 34,300 255,520 28,275 44,000 4,000 1,550 77,825 232,257 3,537 7,219 5,027 248,040 8,920 206 9,126 1,307 712,743 175,627 42,895 34,176 252,698 27,745 42,937 3,928 1,348 75,958 SCHEDULE 4 Sheet 2 1981 Actual $ 11,221 6 825 313 12,365 368,428 3,869 17,650 14,302 3,230 407,479 228,333 3,679 13,740 777 246,529 10,487 175 10,662 1,498 678,533 161,103 24,842 25,915 10,965 222,825 25,358 33,277 3,504 6,436 68,575 CITY OF ST. ANTHONY GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET YEARS ENDED DECEMBER 31, 1982 AND 1981 Public Works (Continued) 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 Total Expenditures Other Uses Transfer to Capital Equipment Fund Total Expenditures and Other Uses -23- 1982 Budget Actual SCHEDULE 4 cheer '1 1981 Actual $ 11,725 $ 11,961 $ 10,464 700 439 507 2,550 820 1,309 1,000 307 231 15,975 13,527 12,511 349,320 342,183 303,911 1,000 557 293 2,750 3,090 1,060 3,400 3,031 3,008 4,300 571 3,940 11,450 7,249 8,301 1,425,862 1,388,290 1,307,413 5,700 5,700 $1,431,562 $1,393,990 $1,307,413 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- CITY OF ST. ANTHONY SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1982 AND 1981 SCHEDULE 5 General Revenue Special Special State Aid Community Reserve Sharing Fire Police Maintenance Development Combined Fund Fund Fund Fund Fund Fund 1982 1981 $344,431 $26,584 ($ 3,540) $367,475 $449,709 8,248 20,219 28,467 18,724 1,212 1,212 1,463 $345,643 $34,832 $ - $ - $ - $16,679 $397,154 $469,896 $16,679 $ 16,679 $345,643 $34,832 380,475 $469,896 $345,643 $34,832 $ - $ - $ - $16,679 $397,154 $469,896 CITY OF ST. ANTHONY SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 Revenue Intergovernmental Revenue Federal Grants Revenue Sharing Community Development State Aid Insurance Premium Tax Street Maintenance Allotment Total Intergovernmental Revenue Other Revenue Tax Forfeit Sale Interest on Assessments Interest Earned Total Other Revenue Total Revenue Other Sources Transfer from General Debt Service Fund Total Revenue and Other Sources Expenditures Public Works - Street Maintenance Contracted Services Other Expenditures Improvement Costs Administrative Total Expenditures Other Uses Transfers to Other Funds General Fund Capital Equipment Fund Special Assessment 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- SCHEDULE 6 General Revenue Special Special State Aid Community Reserve Sharing Fire Police Maintenance Development Combined Fund Fund Fund Fund Fund Fund 1982 1981 $28,134 $ 28,134 $ 39,173 $31,481 31,481 21,206 40,433 7,815 2,728 550 28,134 31,481 59,615 108,627 31,965 704 1,478 $ 117 9,331 550 704 117 137 38,470 3,102 $ 1,189 $ 2,292 $ 2,878 47,931 50,992 38,587 3,102 1,189 2,292 2,878 48,048 52,607 38,587 31,236 1,189 2,292 2,878 31,481 107,663 161,234 12,323 5,262 38,587 31,236 1,189 2,292 2,878 31,481 107,663 166,496 2,728 550 28,717 29,267 31,965 704 2,764 3,468 9,331 550 704 31,481 32,735 44,024 20,000 3,482 51,298 26,646 101,426 105,000 14,600 27,000 9,000 50,600 12,323 12,323 12,323 34,600 30,482 60,298 26,646 164,349 105,000 12,873 35,304 30,482 60,298 26,646 31,481 197,084 149,024 25,714 (4,068) (29,293) (58,006) (23,768) - (89,421) 17,472 319,929 38,900 29,293 58,006 23,768 469,896 452,424 $345,643 $34,832 $ - $ - $ - $ - $380,475 $469,896 CITY OF ST. ANTHONY 704 SCHEDULE 7 GENERAL RESERVE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 General Fund 20,000 20,000 1982 Capital Equipment Fund 1981 14,600 Budget Actual Actual Revenue 50,000 Total Expenditures and Other Uses 34,600 Tax Forfeit Sale 50,009 Excess (Deficiency) of Revenue Over $ 1,478 Interest on Assessments $ 117 137 Interest Earned (8,034) 38,470 38,068 Total Revenue 46,934 38,587 39,683 Other Sources $ 38,900 Transfer from General Debt Service Fund 5,262 Total Revenue and Other Sources 38,587 44,945 Expenditures Improvement Costs 550 20,081 Other Uses Transfer to Special Assessment Fund 12,323 Total Expenditures and Other Uses 12,873 20,081 Excess of Revenue and Other Sources Over Expenditures and Other Uses - 25,714 24,864 Fund Balance at Beginning of Year $319,929 319,929 295,065 Fund Balance at End of Year $319,929 $345,643 $319,929 CITY OF ST. ANTHONY SCHEDULE 8 REVENUE SHARING FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 1982 1981 Budget Actual Actual Revenue Federal Grant - U.S. Treasury Revenue Sharing Grant $ 24,000 $ 28,134 $ 39,173 Interest Earned 3,102 2,802 Total Revenue 24,000 31,236 41,975 Expenditures Contracted Services 704 9 Other Uses Transfers to Other Funds General Fund 20,000 20,000 50,000 Capital Equipment Fund 14,600 14,600 Total Other Uses 34,600 34,600 50,000 Total Expenditures and Other Uses 34,600 35,304 50,009 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (10,600) (4,068) (8,034) Fund Balance at Beginning of Year 38,900 38,900 46,934 Fund Balance at End of Year $ 28,300 $ 34,832 $ 38,900 -26- CITY OF ST. ANTHONY SPECIAL FIRE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND YEARS ENDED DECEMBER 31, 1982 AND 1981 Revenue State Aid - Insurance Premium Tax Interest Earned Total Revenue Expenditures and Other Uses Transfers to Other Funds General Fund Capital Equipment Fund Total Expenditures and Other Uses Excess (Deficiency) of Revenue Over Expenditures and Other Uses Fund Balance at Beginning of Year Fund Balance at End of Year 1982 Budget Actual $27,000 27,000 $ 1,189 1,189 3,482 27,000 30,482 SCHEDULE 9 1981 Actual $13,619 2,458 16,077 20,000 20,000 (27,000) (29,293) (3,923) 29,293 29,293 33,216 $ 2,293 $ - $29,293 CITY OF ST. ANTHONY SCHEDULE 10 SPECIAL POLICE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 Revenue State Aid - Insurance Premium Tax Interest Earned Total Revenue Expenditures and Other Uses Transfers to Other Funds General Fund Capital Equipment Fund Total Expenditures and Other Uses Excess (Deficiency) of Revenue Over Expenditures and Other Uses Fund Balance at Beginning of Year Fund Balance at End of Year -27- 1982 1981 Budget Actual Actual $26,814 $ 2,292 5,025 2,292 31,839 $30,000 51,298 35,000 9,000 9,000 39,000 60,298 35,000 (39,000) (58,006) (3,161) 58,006 58,006 61,167 $19,006 $ - $58,006 CITY OF ST. ANTHONY SCHEDULE 11 STATE AID MAINTENANCE FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 1982 1981 Budget Actual Actual Revenue State Aid - Street Maintenance Allotment $ 7,815 Interest Earned $ 2,878 2,639 Total Revenue 2,878 10,454 Expenditures Contracted Services 2,728 Other Uses Transfer to General Fund $26,640 26,646 Total Expenditures and Other Uses 26,640 26,646 2,728 Excess (Deficiency) of Revenue Over Expenditures and Other Uses (26,640) (23,768) 7,726 Fund Balance at Beginning of Year 23,768 23,768 16,042 Fund Balance at End of Year ($ 2,872) $ - $23,768 CITY OF ST. ANTHONY SCHEDULE 12 COMMUNITY DEVELOPMENT FUND STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 1982 1981 Budget Actual Actual Revenue Federal Grant - Community Development $31,481 $21,206 Expenditures Improvement Costs 28,717 11,884 Administrative 2,764 9,322 Total Expenditures 31,481 21,206 Excess of Revenue Over Expenditures - - - Fund Balance at Beginning of Year Fund Balance at End of Year $ - $ - $ - -28- CITY OF ST. ANTHONY CAPITAL PROJECT FUNDS COMBINING BALANCE SHEET DECEMBER 31. 1982 AND 1981 C/�VCTiV C 1'1 -29- State Aid Capital Construction Equipment Combined ASSETS Fund Fund 1982 1981 Cash and Short -Term Investments $ 44,838 $48,565 $ 93,403 $ 41,626 Due from State of Minnesota 221,553 221,553 300,260 Totals $266,391 $48,565 $314,956 $341,886 FUND BALANCE Fund Balance Appropriated $221,553 $221,553 $300,260 Unappropriated 44,838 $48,565 93,403 41,626 Totals $266,391 $48,565 $314,956 $341,886 -29- CITY OF ST. ANTHONY CAPITAL PROJECT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 Revenue State Aid - Street Construction Allotment Interest Earned Total Revenue Other Sources Transfers from Other Funds General Fund Revenue Sharing Fund Special Fire Fund Special Police Fund Total Other Sources Total Revenue and Other Sources Expenditures Public Works - Capital Outlay Improvement Costs Total Expenditures Other Uses Transfer to Special Assessment Fund Total Expenditures and Other Uses State -Aid Capital Construction Equipment Fund Fund SCHEDULE 14 Combined 1982 1981 $ 95,994 $ 95,994 $ 90,070 6,481 $ 2,275 8,756 4,790 102,475 2,275 104,750 94,860 5,700 5,700 14,600 14,600 27,000 27,000 9,000 9,000 56,300 56,300 102,475 58,575 161,050 94,860 10,010 10,010 3,269 3,269 3,269 10,010 13,279 174,701 174,701 177,970 10,010 187,980 Excess (Deficiency) of Revenue and Other Sources Over Expenditures and Other Uses (75,495) 48,565 (26,930) 94,860 Fund Balance at Beginning of Year 341,886 341,886 247,026 Fund Balance at End of Year $266,391 $48,565 $314,956 $341,886 -30- CITY OF ST. ANTHONY SCHEDULE 15 SPECIAL ASSESSMENT FUNDS COMBINING BALANCE SHEET DECEMBER 31. 1982 AND 1981 Revolving Debt Service Combined Fund Fund 1982 1981 ASSETS Cash and Short -Term Investments (Deficit) ($238,127) $644,937 Accounts Receivable 149,510 Special Assessments Receivable Unremitted 414 Delinquent 8,274 Deferred 142,396 247,290 Construction in Progress Totals LIABILITIES AND FUND BALANCE Liabilities Accounts Payable Bonds Payable Total Liabilities Fund Balance Appropriated Unappropriated Total Fund Balance Totals S S1 770 SQnn Qm; $ 5,767 5,767 48,012 48,012 $ 53,779 -31- $500,000 500,000 70,494 330,421 400,915 $900,915 $406,810 149,510 414 8,274 389,686 $954,694 $ 5,767 500,000 505,767 70,494 378,433 448,927 $954,694 $ 413,852 101,129 6,122 4,234 357,837 97,311 $ 980,485 $ 24,135 605,000 629,135 97,149 254,201 351,350 $ 980,485 CITY OF ST. ANTHONY SPECIAL ASSESSMENT FUNDS COMBINING STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECEMBER 31, 1982 AND 1981 SCHEDULE 16 Expenditures Improvement Costs 623,176 Debt 623,176 41,013 Cancellation of Assessments Revolving Service Combined 131 Fund Fund 1982 1981 Revenue Service Charges 154 154 State Aid - Construction $202,603 $202,603 93 Special Assessments 104,168 623,176 104,168 650,079 Tax Forfeit Sale Excess of Revenue and Other $ 15,190 Interest on Assessments 3,441 $ 21,415 24,856 30,906 Interest Earned Fund Balance at Beginning of Year 70,183 70,183 70,441 Reimbursement of Improvement Costs 158,784 Fund Balance at End of Year 158,784 $400,915 Other $351,350 38 38 699 Total Revenue 468,996 91,636 560,632 117,236 Other Sources Transfer from Other Funds General Reserve Fund 12,323 12,323 State Aid Construction Fund 174,701 174,701 Total Other Sources 187,024 187,024 Total Revenue and Other Sources 656,020 91,636 747,656 117,236 Expenditures Improvement Costs 623,176 623,176 41,013 Cancellation of Assessments 131 Interest on Bonds 26,656 26,656 31,308 Service Charges 154 154 105 Other 93 93 50 Total Expenditures 623,176 26,903 650,079 72,607 Excess of Revenue and Other Sources Over Expenditures 32,844 64,733 97,577 44,629 Fund Balance at Beginning of Year 15,168 336,182 351,350 306,721 Fund Balance at End of Year $ 48,012 $400,915 $448,927 $351,350 -32- CITY OF ST. ANTHONY SM4FT)ITTY 17 LIQUOR FUND BALANCE SHEET DECEMBER 31, 1982 AND 1981 ASSETS 1982 1981 Current Assets Cash and Short -Term Investments $ 420,926 $ 335,757 Petty Cash and Change Funds 88,175 88,175 Accrued Interest Receivable 5,847 1,350 Inventory of Merchandise, at Lower of Cost or Market 345,519 341,080 Prepaid Insurance 6,583 14,412 Total Current Assets 867,050 780,774 Property, Plant and Equipment - At Cost Land and Improvements 11,152 11,152 Building and Structures 475,461 472,014 Furniture, Fixtures and Equipment 268,600 257,685 755,213 740,851 Less Accumulated Depreciation 393,681 359,278 Total Property, Plant and Equipment 361,532 381,573 Other Asset Restricted Cash and Short -Term Investments (Severance) 9,260 9,260 Totals $1,237,842 $1,171,607 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 68,805 $ 79,838 Accrued Payroll and Related Taxes 8,571 9,025 Accrued Sales Tax 17,412 14,606 Total Current Liabilities 94,788 103,469 Fund Equity Retained Earnings Reserved for Severance Payments 9,260 9,260 Unreserved 1,133,794 1,058,878 Total Fund Equity 1,143,054 1,068,138 Totals $1,237,842 $1,171,607 -33- CITY OF ST. ANTHONY LIQUOR FUND STATEMENT OF INCOME AND CHANGES IN RETAINED EARNINGS YEARS ENDED DECEMBER 31, 1982 AND 1981 SCHEDULE 18 -34- 1982 1981 Percent Percent Store #1 Store #2 Total of Sales Total of Sales Sales $1,386,407 $1,086,212 $2,472,619 100.00% $2,687,405 100.00% Cost of Sales 815,734 692,339 1,508,073 60.99 1,633,200 60.77 Gross Profit 570,673 393,873 964,546 39.01 1,054,205 39.23 Operating Expenses 373,135 259,190 632,325 25.57 654,718 24.36 Operating Income 197,538 134,683 332,221 13.44 399,487 14.87 Other Income Commissions 19,183 4,809 23,992 .97 26,401 .98 Check Cashing 30,226 7,753 37,979 1.53 19,234 .71 Interest Earned 23,083 23,083 46,166 1.87 32,996 1.23 Miscellaneous 1,205 160 1,365 .06 706 .03 Total Other Income 73,697 35,805 109,502 4.43 79,337 2.95 271,235 170,488 441,723 17.87 478,824 17.82 Other Expense Miscellaneous 755 1,052 1,807 .08 974 .04 Net Income $ 270,480 $ 169,436 439,916 17.79% 477,850 17.78%, Retained Earnings at Beginning of Year 1,068,138 965,288 Transfer to General Fund (365,000) (375,000) Retained Earnings at End of Year $1,143,054 $1,068,138 -34- CITY OF ST. ANTHONY LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31. 1982 AND 1981 Working Capital Provided By Operations Net Income for Year Adjustment for Items Not Affecting Working Capital Depreciation Gain on Disposal of Equipment Total Working Capital Provided By Operations Proceeds from Disposal of Equipment Total Working Capital Provided Working Capital Applied To Transfer to General Fund 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 Accrued Interest 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 -35- SCHEDULE 19 1982 1981 $439,916 $477,850 35,503 35,598 (335) 475,084 513,448 335 475,419 513,448 365,000 375,000 15,462 13,137 380,462 388,137 $ 94,957 $125,311 $ 85,169 $ 97,755 (20,000) 4,497 (792) 4,439 22,020 (7,829) (9,420) 86,276 89,563 (11,033) (43,670) (454) 4,595 2,806 3,327 8,681) 35,748) 94,957 125,311 677,305 551,994 $772,262 $677,305 CITY OF ST. ANTHONY SCHEDULE 20 LIQUOR FUND STATEMENT OF GROSS PROFIT YEARS ENDED DECEMBER 31, 1982 AND 1981 01-m Cost of Gross Percent Sales Sales Profit of Sales 1982 Store No. 1 Off Sale Liquor $ 306,142 $241,619 $ 64,523 21.08% Wine 143,185 98,132 45,053 31.46 Beer 419,161 328,410 90,751 21.65 Other 27,755 13,430 14,325 51.61 On Sale 442,764 121,530 321,234 72.55 Speakeasy 47,400 12,613 34,787 73.39 Totals $1,386,407 $815,734 $570,673 Store No. 2 Off Sale Liquor $ 322,273 $246,795 $ 75,478 23.42% Wine 156,925 105,545 51,380 32.74 Beer 355,830 267,656 88,174 24.78 Other 20,003 10,176 9,827 49.13 On Sale 231,181 62,167 169,014 73.11 Totals $1,086,212 $692,339 $393,873 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 01-m CITY OF ST. ANTHONY SCHEDULE 21 LIQUOR FUND STATEMENT OF OPERATING EXPENSES YEARS ENDED DECEMBER 31, 1982 AND 1981 1982 1981 Store #1 Store #2 Total Total Salaries On Sale $105,242 $ 50,454 $155,696 $154,034 Off Sale 62,835 59,684 122,519 119,166 Custodians 22,560 22,560 22,279 Managers 29,533 29,533 59,066 53,788 Bookkeepers 16,241 16,241 32,482 30,090 Employees' Insurance 7,248 5,211 12,459 12,345 Pension Contributions 21,899 14,599 36,498 36,256 Personal Services 265,558 175,722 441,280 427,958 Laundry 3,571 2,417 5,988 5,194 On Sale Supplies 5,282 1,359 6,641 6,565 Off Sale Supplies 3,372 3,041 6,413 6,802 Cleaning Supplies 1,163 1,380 2,543 3,697 Office Expense 2,515 2,416 4,931 5,327 Supplies and Related Costs 15,903 10,613 26,516 27,585 Rentals and Leases 474 17,652 18,126 17,821 Utilities 19,792 8,757 28,549 25,561 Telephone 1,015 1,117 2,132 1,815 Sanitation 1,398 1,378 2,776 2,365 Insurance 17,673 12,971 30,644 50,286 Security 2,377 1,675 4,052 2,572 Advertising and Decorating 2,469 2,175 4,644 5,496 Accounting and Other 1,650 4,083 5,733 3,350 Music 7,360 7,360 24,840 Contracted Services 54,208 49,808 104,016 134,106 Repairs, Maintenance and Janitorial 8,799 12,477 21,276 26,215 Depreciation 26,525 8,978 35,503 35,598 Travel 1,380 1,380 2,760 2,723 Other 762 212 974 533 Other Charges 37,466 23,047 60,513 65,069 Totals $373,135 $259,190 $632,325 $654,718 -37- ASSETS Current Assets Cash and Short -Term Investments Accounts Receivable Other Receivables Inventory of Supplies, at Lower Prepaid Insurance Total Current Assets (Deficit) of Cost or Market 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 -38- CITY OF ST. ANTHONY UTILITY FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1982 AND 1981 SCHEDULE 22 Water Sewer Combined Fund Fund 1982 1981 $ 275,424 ($ 135,715) $ 139,709 $ 172,032 42,147 76,351 118,498 103,658 13,696 13,696 18,655 1,641 1,641 1,811 1,300 1,279 2,579 5,790 320,512 44,389 276,123 301,946 7,006 3,645 10,651 10,651 665,202 9,000 674,202 674,202 1,467,767 1,046,615 2,514,382 2,514,138 116,708 69,337 186,045 160,835 2,256,683 1,128,597 3,385,280 3,359,826 1,261,989 529,817 1,791,806 1,715,386 994,694 598,780 1,593,474 1,644,440 132,315 132,315 146,014 $1,315,206 $ 686,706 $2,001,912 $2,092,400 $ 349 $ 349 $ 5,887 1,663 $ 1,145 2,808 2,501 52,693 52,693 51,018 54,705 1,145 55,850 59,406 8,125 8,125 17,050 111,136 111,136 115,302 119,261 119,261 132,352 54,705 120,406 175,111 191,758 670,166 520,061 1,190,227 1,236,154 590,335 46,239 636,574 664,488 1,260,501 566,300 1,826,801 1,900,642 $1,315,206 $ 686,706 $2,001,912 $2,092,400 CITY OF ST. ANTHONY SCHEDULE 23 UTILITY FUNDS COMBINING STATEMENT OF CHANGES IN FUND EQUITY YEARS ENDED DECEMBER 31, 1982 AND 1981 -39- Water Sewer Combined Contributed Capital Fund Fund 1982 1981 Balance at Beginning of Year $695,168 $540,986 $1,236,154 $1,262,578 Assets Contributed from Other Funds 18,753 Redistribution of Depreciation from Retained Earnings (25,002) (20,925) (45,927) (45,177) Balance at End of Year $670,166 $520,061 $1,190,227 $1,236,154 Retained Earnings Balance at Beginning of Year $606,518 $ 57,970 $ 664,488 $ 699,503 Net Loss for Year (34,185) (32,656) (66,841) (66,192) Redistribution of Depreciation to Contributed Capital 25,002 20,925 45,927 45,177 Transfer to General Fund (7,000) (7,000) (14,000) Balance at End of Year $590,335 $ 46,239 $ 636,574 $ 664,488 -39- CITY OF ST. ANTHONY UTILITY FUNDS COMBINING STATEMENT OF OPERATIONS YEARS ENDED DECEMBER 31, 1982 AND 1981 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 -40- SCHEDULE 24 Water Sewer Combined Fund Fund 1982 1981 $179,193 $179,193 $144,218 $309,041 309,041 292,337 3,437 3,437 3,225 182,630 309,041 491,671 439,780 79,671 62,210 141,881 125,319 12,226 5,326 17,552 19,147 103,025 20,862 123,887 97,341 259,479 259,479 221,009 56,947 25,791 82,738 80,315 251,869 373,668 625,537 543,131 (69,239) (64,627) (133,866) (103,351) 2,625 480 3,105 375 31,851 31,851 36,008 1,030 546 1,576 938 17,703 17,703 13,028 27,582 27,582 35,506 46,311 81,817 50,349 (33,733) (18,316) (52,049) 53,002) 14,340 14,340 12,725 452 452 465 452 14,340 14,792 13,190 ($ 34,185)($ 32,656)($ 66,841)($ 66,192) CITY OF ST. ANTHONY UTILITY FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECEMBER 31, 1982 AND 1981 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 Decrease in Other Receivables Assets Contributed from Other Funds Total Working Capital Provided Working Capital Applied To Transfer to General Fund Acquisition of Plant and Equipment Decrease in Other Liabilities 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 Accounts Receivable Other Receivables Inventory Prepaid Insurance SCHEDULE 25 Water Sewer Combined Fund Fund 1982 1981 ($ 34,185)($32,656)($ 66,841)0 66,192) 56,947 25,791 82,738 80,315 452 688 452 465 23,214 (6,865) 16,349 14,588 13,699 13,699 18,926 18,753 23,214 6,834 30,048 52,267 7,000 7,000 14,000 22,224 10,000 32,224 22,044 13,091 13,091 8,256 29,224 23,091 52,315 44,300 ($ 6,010)($16,257)($ 22,267) $ 7,967 ($ 13,546)($18,777)($ 9,176 5,664 (4,959) (170) (2,775) (436) 7,315) (18,508) Increases (Decreases) in Current Liabilities Accounts Payable Accrued Payroll and Related Taxes Meter Deposits Increase (Decrease) in Working Capital Working Capital (Deficit) at Beginning of Year Working Capital (Deficit) at End of Year -41- 32,323)($ 16,318) 14,840 17,486 (4,959) 14,872 (170) (1,072) (3,211) (3,641) 25,823) 11,327 (3,215) (2,323) (5,538) 1,127 235 72 307 688 1,675 1,675 1,545 1,305 2,251 3,556 3,360 (6,010) (16,257) (22,267) 7,967 271,817 (29,277) 242,540 234,573 $265,807 ($45,534) $220,273 $242,540 CITY OF ST. ANTHONY SCHEDULE 26 AGENCY FUND BALANCE SHEET DECEMBER 31, 1982 ASSETS Cash and Short -Term Investments (Deficit) Accounts Receivable Totals Liability - Funds Held for Others -42- Firefighter's Housing Relief Redevelopment Association Authority Total ($14,541) $1,168 ($13,373) 14,541 14,541 $ - $1,168 $ 1,168 $ - $1,168 $ 1,168 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 Increment Financing Taxable Valuations Tax Levies General Capital Outlay Housing Redevelopment Authority Totals Mill Rates General Capital Outlay Housing Redevelopment Authority Totals 1981 1982 1983 $50,751,519 $56,543,303 $62,173,003 (1,732,976) (2,737,485) (3,362,866) 1,716,990 2,574,446 2,997,403 (100,967) $50,735,533 $56,380,264 $61,706,573 $ 519,988 $ 590,607 $ 639,614 32,704 3,013 21,311 $ 519,988 $ 593,620 $ 693,629 10.216 10.492 10.385 .531 .056 .363 10.216 10.548 11.279 -43- 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 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 1982 593,620 575,557 96.96 2,003 577,560 97.29 SPECIAL ASSESSMENT LEVIES AND COLLECTIONS -44- Percentage Current Percentage Prior of Total Total Year's Levy of Levy Years' Levy Total Collections Year Levy Collections Collected Collections Collections To Levy 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 1982 93,461 88,081 94.24 1,263 89,344 95.59 -44- CITY OF ST. ANTHONY COMBINED SCHEDULE OF BONDED INDEBTEDNESS DECEMBER 31. 1982 Date Interest Date of of Final Rates Issue Maturity Bonded Indebtedness Special Assessment Improvement Bonds Improvement Bonds of 1968 4.70-4.90% 10/1/68 1/1/90 Improvement Bonds of 1973 4.40-4.50 6/1/73 3/1/85 Total Bonded Indebtedness -45- Bonds Due in 1983 Authorized Issued Redeemed Outstanding Principal Interest $ 960,000 $ 960,000 $ 680,000 $280,000 $ 40,000 $13,560 675,000 675,000 455,000 220,000 65,000 8,373 $1,635,000 $1,635,000 $1,135,000 $500,000 $105,000 $21,933 CITY OF ST. ANTHONY BONDS PAYABLE DECEMBER 31, 1982 Improvement Bonds of 1973 6/1/73 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 220,000 Total Special Assessment Improvement Bonds $500,000 Note - January 1, 1983 maturities are considered matured December 31, 1982. CITY OF ST. ANTHONY DEBT SERVICE REQUIREMENTS DECEMBER 31, 1982 Special Date of Interest Date of Principal Interest Total Issue Rate Maturity Amount Special Assessment Improvement Bonds 17,176 122,176 1985 Improvement Bonds of 1968 10/1/68 141,785 1986 40,000 January 1, 1984 1987 4.70% 1/1/84 $ 40,000 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 280,000 Improvement Bonds of 1973 6/1/73 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 220,000 Total Special Assessment Improvement Bonds $500,000 Note - January 1, 1983 maturities are considered matured December 31, 1982. CITY OF ST. ANTHONY DEBT SERVICE REQUIREMENTS DECEMBER 31, 1982 Note - January 1 maturities are considered matured December 31 of the preceding year. -46- Special Assessment Improvement Bonds Principal Interest Total 1983 $105,000 $21,933 $126,933 1984 105,000 17,176 122,176 1985 130,000 11,785 141,785 1986 40,000 7,840 47,840 1987 40,000 5,880 45,880 1988 40,000 3,920 43,920 1989 40,000 1,960 41,960 Totals $500,000 $70,494 $570,494 Note - January 1 maturities are considered matured December 31 of the preceding year. -46-