Loading...
1955 Financial Statements 1 VILLAGE OF FRIDLEY FRIDLEY, MINNESOTA REPORT ON EXAMINATION OF THE ACCOUNTS AND RECORDS FOR THE YEAR ENDED DECEMBER 31, 1955 a 1 • SCAR J. SCHUELEIN E R T I F 1 E D P U B L I C A C C O U N TAN T 607 NORTHWESTERN FEDERAL BUILDING MINNEAPOLIS 3, MINNESOTA January 31, 1956 Village Council Village of Fridley Anoka County Fridley, Minnesota Gentlemen: We have examined the financial affairs of the Village of Fridley for the year ended December 31, 1955. Our examination was made in accordance with generally accepted auditing standards and included such tests of records and other supporting data as was consid- ered necessary in the circumstances. In our report thereon, the following exhibits and schedules, together with related comments, are submitted: Page No. ErdIBIT "A" - Combined Balance Sheet by Funds, December 31, 1955 7 "B" - Summary of Receipts and Disbursements, For the Year ended December 31, 1955 8 "C" - Liquor Stores Fund Balance Sheet, December 31, 1955 9 "D" - Liquor store it Profit and Loss Statement, For the Year ended December 31, 1955 10 "E" - Liquor Store 412 Profit and Loss Statement, For the Year ended December 31, 1955 11 "F" - Organization - as at December 31, 1955 12 SC i DULJ' 41 - Detail of Receipts for the General Fund, Police Fund, beater and Sewer Fund, and 13 - Permanent Improvement Fund, For the Year ended December 31, 1955 (Continued on Next Page) -2- Village of Fridley Fridley, Minnesota SCHEDULE 42 - Disbursements by Funds, page lie. For the Year Ended December 31, 1955 15 - 22 43 - Fixed Assets, For the Year Ended December 31, 1955 23 - 2L #14. - Insurance in Force, December 31, 1955 25 W5 - Liquor SLores Insurance in Force, December 31, 1955 ?6 The Village was incorporated July 1, 1949. The "Off Sale" portion of the liquor store at 7631 Central Avenue N. F. has been in operation since October, 1949. The "On Sale" operations were begun at the same location during the latter part of February, 1950. A Municipal building was constructed which houses the Village Hall, Police Department and Fire Department, and was com- pleted in 1952. The second "Off Sale" store was constructed during 1953 and opened for business in the latter part of November, 1953. On December 22, ,�� � 1955, the Village entered into an agreement pith its School District 3 to ? r b erect a public building to provide a gymnasium, auditorium, library and other / let -. . 411/ yte facilities for public use We were informed the intention is to aerive � revenue from the building on a rental basis to liquidate the cost of the " ` '' , ,y." ' building. The village intends to issue bonds not to exceed $375,000.00 �`� for this purpose and it is estimated the total cost of the building will approximate ?500,O00.00. The school district is to issue bonds for the balance I of $125,000.00. On January 17,1956, the Village Manager was authorized to advertise for bids on said bends. C O,NENTS Exhibit "A" - sets forth funds, assets and liabilities as indicated hereon. -3- Village of Fridley Fridley, Minnesota Cash on Hand and in Bank Cash on hand was counted and oash in bank was verified directly with depositories. Receivables Shortages receivable represents the uncollected balance remaining from a previous year. During 1955 $300.00 was collected on this account. Other receivables represent water and sewer charges to residents of the village which have not been collected. Inventories Inventories represents the actual physical count of liquor stocks made by this office and liquor store employees on January 1, 1956. The pricing of these inventories was on the basis of lower of cost or market and such pricings, footings and extentions were tested by us and found to be correct. In our opinion, these inventories are properly valued. Deferred Assets This represents the deferred insurance premiums applicable to subse- quent periods and covers policies in force for the liquor store only. These policies are set forth on Schedule 5. Other policie., covering other than liquor store operations and hazards are set forth on Schedule 44. The com- putation of the deferred insurance on these latter policies was not made. Sewage Connection Rights This represents the cost to the Village of the rights to connect to the sewer facilities of the City of Columbia Heights. The original contract, executed November 2L, 1953, was revised :1'ay 1, 1954. This revision was necessitated as original point of connection was changed, which involved additional construction by the Village of Fridley. -Li- Village of Fridley Fridley, Minnesota .Eitesilateatate Summary of Fixed Assets at cost is set forth on Schedule . No depreciation has been computed on assets other than those used in the Lieuor Stores' operations. Liabilities Accounts Payable represents outstanding unpaid invoices at the close of the year for merchandise purchases and expenses for the liquor stores. Bonds Payable represents a balance of $18,000.00 used to finance the construction of the municipal building at 6431 university iu.E. and; balance of $1,994,000.00 of irprovement bonds issued to finance the installation of municipal water, sanitary sewer, and storm sewer systems. (The Village is committed to pay on finished va rk the sum of $75,915.23, which represents the balance of hold back funds. ) The Village is also financially committed on three of the projects which were not completed as at December 31, 1955. The original bond issue, in the amount of $30,000.00 used for the construction of the Village Hall, is payable at $3,000.00 per year. The payment due and payable January 1, 1956, was paid in December 1955, to- gether with interest thereon and is reflected in the disbursements section of the General Fund for 1955. The bonds issued to finance the installation of the municipal water and sewer installations mature during the period from May 1, 1955, to August 1, 1975. Interest is payable semi-annually on these bonds at rates varying from 2 3/4% to 4%. Interest due on these bonds in the amount of $39,608.75 has been paid. Bonds maturing in 1956 total $31,000.00. _5— Village of Fridley Fridley, Minnesota Long-term contract represents the balance sayable to the City of Columbia Heights for the richt to connect to the city of Columbia ;:eights sewer system. It is payable as follows: "$6,335.00, or more, on April 1 p 1, 1955, and like amount each year thereafter until the total amount thereof, together with interest at the rate of 2 % per annum, payable annually on the unpaid balance shall be paid in full. Interest charges shall be accrued from November 1, 1953." Payment on the principal in the amount of $6,335.00 was made to the City of Columbia Heights in April 1955, along with the interest due on the full principal amount. Accrued interest from April 1, 1955, to December 31, 1955, has not been computed. Liquor Stores Operations • Net Income from the Liquor Stores operations of the Village for the year ended December 31, 1955, was $61,666.96. Condensed comoaretive summary of operations for the years 1554 and 1955, together with percentages to sales, is set forth in the following: 1955 1954 SALES X356,931.27 100.00% 1315,979.94 100.00, COST OF SALES 258,175.08 72.331 220,747.46 69.86 GROSS PROFIT 98,756.19 27.67% 95,232.48 30.14 EXPENSES 48,584.64 13.61% 17,019.87 14.88 NET OPERATING PROFIT 50,171.55 14.06% 48,212.61 15.26% OTHER INCOME 11,1x95.41 3 _122% 9, 162.61 2.90 & NET INCOME 614:266.c62.... i7.28% ; 57,37c_.22 zt.z6% Liquor stores operations have been reflected on the accrual basis, inoluding provisions for depreciation of fixed assets. aerations A summary statement of receipts, disbursements and transfers for all unds for the year ended December 31, 1955, is shown on Exhibit "B". 1 _6- Village of Fridley Fridley, Minnesota OPINION In our opinion, the accompanying fund balance sheets, summary of receipts and disbursements, profit and loss statements and related schedules, being Exhibits "A" through "F", and Schedules #1 through #5, fairly set forth, subject to the com- ments contained in this report, the financial position of the Village of Fridley at December 31, 1955, and its operations for the year then ended. Respectfully submitted, Cartif-ied Public Accountant 1 i -7- Village of Fridley Fridley, Minnesota EXHIBIT "A" -°--- COMBINED BALANCE SHEET BY FUNDS DECEMBER 31, 1955 General Police Fire Liquor Permanent Water & Road & Special ASSETS Total Fund Fund Fund Stores Improvements Sewer Bridge Assessment CASH ON HAND AND IN BANK $247,022.28 $1,370.31 $42, 185.85 $198,568.76 $3,339.77 $1,557.59 RECEIVABLES Shortages 860.36 860.36 Accounts Receivable 412.27 412.27 INVENTORIES 56,250.67 56,250.67 DEFERRED ASSETS 2,760.98 2,760.98 SEWAGE CONNECTION RIGHTS 60,000.00 60,000.00 FIXED ASSETS 2,19 ,246.79 59,638.46 ' $ 6,434-61- $17,038.44 ' 35,221.1}2 ' 2,039,245.22 11,599.77 -*26,068.87 TOTAL ASSETS $2,562,553.35 $61,869.13 $6,434.61 $17,038.44 $136,418.92 $2,297,813.98 $15,351.81 $26,068.87 $1,557.59 ' LIABILITIES & SURPLUS LIABILITIES Accounts Payable 175.64/ $75.64 Employees' Income Tax Withheld 611.00✓ $265.60 345.40 Employees' P.E.R.A. Withheld 234.75'' 146.77 87.98 Bonds Payable - Village Hall 18,000.00, 18,000.00 Bonds Payable - Permanent Improvements 1,994,000.00•', X1,994,000.00 Long-term Contracts 44,345.00' 44,345.00 _ Customer Meter Deposits 8,650.00' $8,650.00 Street and Other Deposits 12,257.09 625.00 10,074.50 $1,557.59 TOTAL LIABILITIES 2,078.173.118 19,037.37 509.02 : O14f3,41 .5 T 8,650.00 1.557.59 SURPLUS 484,379.87 42,831.76 .16,434.61 $17,038.1414 135,909.90. 249,394.48 __6_,/a_..§1 126,068.87 TOTAL LIABILITIES AND SURPLUS __$2,562,553.35 161,86.13 $6,434.61 $17,038.44 4136,1418.92 $2,297,813.98 A15,351.81 26,068.87 41,557.59 -8- Village of Fridley Fridley, Minnesota XHIBIT "B" SUMMARY OF RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1955 e Balance In Out Balance 1- 1-55 Receipts Transfer Total Disbursements Transfer 12-31-55 FUND General $4,107.07 $59,216.11 , $1,975.00 $105,100.18 $43, 193.72 $61,326.55 $961.19 (1) 1,800.00 30,000.00 (3) (381.28) (2) 8,000.00 Police 17,507.90 ' 11,998.88 29,506.78 29,506.78 Fire Protection 8,154.00 8,154.00 8,154.00 Road and Bridge 1,000.00 30,329.05 31,329.05 31,329.05 Special Assessments 1,557.59 1,557.59 1,557.59 Liquor Store 38,532.35 357,820.02 396,352.37 324,166.52 30,000.00 42,185.85 Employees' Income Tax Withheld 661.50 3,196.02 3,857.52 3,591.92 265.60 Employees' P.E.R.A. Withheld 90.90 1,248.33 1,339.23 1,233.71 105.52 Sewer and Water 1,975.00 20,559.46 22,534.46 17,219.69 —1,975.00 3,339.77 Village Hall 9,287.03 9,287.03 9,287.03 Permanent Improvements 254,386.98 1,239,248.11 1,493,635.09 1,295,066.33 198,568.76 Petty Cash 38.00 38.00 .00 $300,791.80 31,708,597.95 ,193,301.55 $2,102,691.30 $1,762,367.47 $93,301.55 $247,022.28 (1) Liquor Store disbursement to the General Fund for bookkeeping services. (2) Permanent Improvements Fund disbursement to the General Fund for computing special assessments. (3) Reduction in withheld tax liability charged to expense. 1 1 I -9- Village of Fridley Fridley, Minnesota EXHIBIT "C" LIQUOR STORES FUND BALANCE SHEET DECEMBER 31, 1955 ASSETS CURRENT ASSETS Cash on Hand $24,433.53 Cash in Bank 17,752.32 $42,185.85 -Merchandise Inventory 56,250.67 198,4.36.52 Total Current Assets FIXED ASSETS Land Site and Improvements $ 4,585.00 4,585.00 Bldg. and Improvements #2 14,453.01 616.70 13,836.31 Bldg. Improvements #1 4,267.48 853.72 3,413.76 Furniture aid Fixtures #1 14,097.92 6,L438.63 7,659.29 Furniture and Fixtures 42 4,849.66 1,026.98 3,822.68 Permanent Signs W1 1,144)1.36 4511.25 990.11 Permanent Signs #2 590.00 127.83 462.17 Driveway #2 00 .90 _ 452.10 $4,782. 3 $9,561.01 - 35.221.42 DEFERRED ASSETS Unexpired Insurance 2,760.98 TOTAL ASSETS $136,418.92 LIABILITIES CURRENT LIABILITIES Accounts Payable $ 75.64 Employees' Income Tax Withheld 345.40 Public Employees Retirement Act 87.98 $ 509.02 Total Current Liabilities SURPLUS Balance, January 1, 1955 104,21.2.94 Add: Net Income Store #1 Exhibit "D" $ 41,757.55 Net Income Store #2 Exhibit "E" 1,949.41 611666.96 Less: Transfers to General Fund 165,909.90 30,000.oQ 135,909.90 TOTAL LIABILITIES & NET WORTH $ 136,418.92 1 -10- Village of Fridley Fridley, Minnesota EXHIBIT "D" PROFIT AND LOSS STATEMENT LIQUOR STORE #1 FOR T�:E YEAR ENDED DECEMBER 51, 1955 SALES $211,918.33 COST qz SALES Inventory, January 1, 1955 $ 33,237.31 Merchandise Purchased 10,701.L16 6 173,938.77 Less: Inventory, December 31, 1955 32662.94 1L}1,275.83� GROSS PROFIT 70,642.50 GEN . Wages 22,038 74 Rent 2,700.00 Heat, Light, and Power 1,376.14 Repairs 317.24 Laundry 364.72 Telephone 166.94 professional Fees 300.00 Bookkeeping (to General Fund) 1,200.00 Store Expense 2,237.5)4 Insurance 2,732.87 Store Supplies 1,717.68 Interest 50.00 Depreciation 1,592.97 Licenses 70.00 36.864.84_ NET OPERAT i NG I .COME 33,777.66 OTHER INCOME Discounts Received and Miscellaneous 7,979,.89 NET INCOME TO EXHIBIT "B" $41,757.55, -11- Village of Fridley . Fridley, Minnesota EXHIBIT "En PROFIT AND LOSS STATEMENT LIQUOR STORE #2 FOR `SHE YEAR ENDED DECEMBER 31, 1955 SALES $145,012.94 COST OF SALES Inventory, January 1, 1955 $ 23,080.36 Merchandise Purchased 117 06.62 140,486.98 Less : Inventory, December 31, 1955 23,587.73 116,89925 GROSS PROFIT 28,113.69 GENERAL EXPENSES Wages $6,754.42 Heat, Light, and Power 1,133.75 Repairs 31.25 Laundry 23.60 Telephone 275.02 Professional Fees 150.00 Bookkeeping (to General Fund) 600.00 Store Expense 468.20 Insurance 1,216.32 Store Supplies 127.74. Interest 37.50 Depreciation 852.00 License 50.00 11,719.80 NET OPERATING INCOME 16,393.89 OTHER INCOME Discounts Received 3,515.52 NET INCOME TO EXHIBIT "B" $ 19,909.41 -12- Village of Fridley Fridley, i1irnesota tF ;IBB SIT ""F"� ORG Lid •;••iTIO,1'i AS AT DEC 'R 31, 1955 Term of Offi .e Froze To COUNCIL mayor Robert Hughes January 2, 1954 January 2, 1956 Councilmen Thomas Groig January 2, 1955 January 2, 1958 Fred Vye January 2, 1955 January 2, 1958 Glenn Johanson January 2, 1954 January 2, 1957 Albert W. Paulson January 2, 1953 January 2, 1956 VILLAGE i, i iGER Ernest P,sadsen January 4, 1954 Indefinite JUDG_; : UNICIP L COURT Icier Johnson January 2, 1954 January 2, 1958 VILLAGi'i ATTORNEY krian Smith January 2, 1953 Indefinite TRE4STUREK .ruin irunsell October 15, 1951 Indefinite CLERK OF COJRT Laverne O+Flanagan 102gust 1, 1951.E Indefinite Village of Fridley Fridley, 7innesota 1 - St,'TD`.LE ; `1 • DETAIL OF R• C`:IPTS FOR THE YEAR =ED DEC T1:DER 1, 1955 GENERaL FUND Building Permits $ 6,163.00 7lu nbing Permits 2,772.00 Licenses 2,120.50 Maps and Miscellaneous 255.10 Thorta:e Restitution 300.00 Ins1-•railce Refund 608.62 park Donation - Cash 625.00 Special .r:ssessslents 1,557.59 r,nol,a Cove ty - Real ;';state Taxes 37,000.22 Cigarette and Liquor Tax .ipportionment 7,716.08 Total Receipts - General Fund • X59,216.11 POLICE F: ?D Court Fines $16,282.25 Drunkometer Tests Given 1,029.65 Jail Keep 196.00 Total Roccjots - Police Fund -1.171507..90 EE,;!ER ._ ._ '!.AT R .Fiu "eter Deposits $6,725.00 Less : Refunds 50.00 ` 6,675.00 Serer Connection Charges 1,106.00 4t_Lter Connection Charges 1,072.00 Sower Du1auing 266.50 Water and Sewer Sales 8,700.98 Less: DiscoLnts allowed 212.00 8,488.98 Transferred fram General Fund 2,950.98 Total Receipts - Sewer and ,;ester Fund $20,559.46 • -14- Village of Fridley Fridley, Minnesota SCHEDULE-0 (Concluded) DETAIL OF RECEIPTS FOR THE YEAR L';\`DED DEC E 1BER 51, 1955 PERMANENT I MPROVIYEI1T FUND BOND ISSUE Bond Proceeds June 16, 1955 $250,000.00 Bond Proceeds June 28, 1955 250,000.00 Bond Proceeds October 24, 1955 257, _,00.00 Bond Proceeds November 10, 195> 245.000.00 A1,000,000.00 / ACCRUED INTnBT ON BONDS Bonds June 16, 1955 2,250.00 Bonds June 28, 1955 1,050.00 Bonds October 24, 1955 510.00 Bonds November 10, 1955 955.50 4,765.50 ✓ ZNNTEREST RECEIVfD, 6,189.83 PREPAY1 E TS f DEPOSITS Street Iraprovemen is 9,614.50 Sewer Improvements 400.00 Boulevard Deposits 60.00 10,074.50 SPECIAL ASSESS=S."4 TS RECEIVED 218,218.28 Total Receipts - Permanent Improvement Fund $1.2522!.8.11 . -15- Village of Fridley Fridley, Minnesota SCHEDULE #2 DISBUR j.fl NT$ BY FUNDS FOR THE YEAR 1955 GENERAL FUND Salaries Officials Mayor $150.00 Council 4.00.00 Village Manager 6,000.00 Treasurer • 4,000.00 Clerk 3,000.00 $13,550.00 Clerical Office 1,714.96 Assessor 699.80 Election Judges 109.00 Dog Catcher Fees 726.00. $16,799.76 Capital Expenditures Cardineer 166.00 Duplicator 395.00 Typewriter 75.00 Protectograph 173.50 Refrigerator 35.00 Audiograph Dictator 465.10 Drafting Table 18.82 Black Board 21.00 Two Desks 100.00 Inter-colt 146.02 1,595.44 Expenses Manager's Expense Allowance 550.00 Legal 895.3+ Auditing 775.00 Telephone 665.60 Printing and Office Supplies 867.86 Insurance 1,369.36 Building Inspector Fees 4,915.65 Municipal League Dues and Subscriptions 183.50 Convention Expense 336.40 Village Maps 160.50 Register of Deeds 6.00 Miscellaneous Supplies and Maintenance 103.59 Coke for Machine 92.90 Postage, Petty Cash and Bank charges 100.90 Subscriptions and Dues 183.50 t publications 296.70 11,502.80 Other Disbursements Real Estate Taxes - Park 55.60 Park - Legal for Condemnation 125.00 Zoning and Planning - I. S. Shattuk 4,650.00 - Other Expenses 229.31, 4,879.31 -16. Village of Fridley Fridley, Minnesota SCHEDULE #2 (Continued) DISBURSRMENU BY FUNDS FOR 1LiE YER 1995 1 FJ (gontinued) Other Disbursements (Continued) Park Land 225.00 Park Improvements - Grading and Fill 1,042.80 N.W. National Bank - Payment on Bonds, Village Hall 3,000.00 LW. National Bank - Payment on Coupons 630.00 N.W. National Bank - Paying Charge 5.75 9,963.1.6 Withheld Taxes - 1-1-55 752.40 Withheld Taxes - 12-31-55 371.12 381.28 f Transferred to Water Department 2.950,98 3_33246 Total Disbursements - General Fund $43,193.72 POLIO:LIMED Salaries Police Officers $17,611.68 Judge 900,00 Probation Officers 300.00 Dispatchers 4 600.00 •19,411.68 Capital Expenditures Wiring and Aerations - Jail 72.04 Raincoats 26.21 Flares 48.74 146.99 Expenses Auto Maintenance and Repair 3,615.06 Rental, Police Car 2,0 2.95 Radio Service 1,000.00 Insurance 939.60 Jail Keep 680.24 Phone 324.00 Drunkometer Supplies 164.86 Patrolmen's Examinations 100.75 Convention Expense 236.60 Traffic Violation Tags 236.10 Painting 72.50 Office Supplies 181.31 publications 44.30 Subscriptions and Dues 17.50 Uniform Shoulder Pads 30.00 Drunkometer Tests 5,00 Witness Fee 3.00 Maintenance Supplies 254.344 9,948.11 Total Disbursements - Police Fund 129,506,78 1 Village of Fridley Fridley, Minnesota SCHEDULE E y'2 (Continued) DSSBUUSEMENTS ?3Y 171J1,11-G FOR THE YE .R 1955 PUB PROTECTIOK r'UN1 Salaries Firewater: c111,400.00 Volunteer Firemen 1,362100 $2,762.00 Capital E �p,inditures Resuscit',tor 369.60 Fire hose :.nd Fittings 124.30 Flood Lights 12.38 Explosoiieter 8b.c Beacon Ray Light 7f.O0 Hann Lanterns and Pick Axe 33.74 Wardrobe and Cabinet 115.25 Hand Pump 23.66 1,140.62 Expenses motor - Truck #2 265.00 Gals, Oil and Maintenance 178.50 Repairs - 51 .54 Telephone 322.30 Fire School 108.05 First .sic: Instructor 30.00 Miscellaneous Expense and Supplies 297.14 Repairs - Resunoitator 35.62 Duos and Subcriptions 71.50 Fire Pre,-ention (School) 69.00 Insurance 642.60 Badges 105.00 Firemen's Relief 1,612.63 4.251.E Total DisvursInnents - Fire Protection Fund 4.§..154.00 VILL&G ; HALL Capital Expenditures Land Appraisal & Purchase, Lots 14 & 15 $2,775.00 Real Estate Taxes 43.26 Payment en Lots 9 f; 13 1,500.00 Curb in front of Village Hall 235.11 Remodeling Kitchen 2,050.72 Venetian Blinds x4.65 $6,688.74 Expenses Fuel Oil 848.67 Light 52.07 Janitor Service 549.51 Cleaning Supplies 26.65 Insurance 2)7.18 -- I T -18- Village of Fridley iridloy, Minnesota SCHEDULE ;y 2 (Continued) : . FOR TIME YEAR 1955 VILLAGE HALL (Continued) Expenses (Continued) Interest on Contract 95.84 Repairs 87.80 Miscellaneous Expenses ., 1:�. 'j 2,598.29 Total Disbursements - Village Hall ;94287.03 ROAD AND B RIDG) Capital Expenditures Street Construction $19,785.96 Engineering - Plans and Specifications 1,082.31 Street Signs 652.10 Sander and Post Driver 131.50 $21,651.'L7 Expenses Salaries 1s566.50 • Grading 1,298.13 Blaaing 1,744.82 Snow Plowing 1,877.00 Equipment Hire 1,121.59 Asphalt 345.00 Clay and Gravel 604.75 Weed Cutting 319.52 Engineering 59.00 Street Lighting 146.336 Hauling 168.25 Jeep Maintenance 72.59 Pablishi:og Notices 28.80 [� aintenitncc Supplies 304.67 9,t((.1G Tom ! . irbursements - ,}load and Bridges Lia�29, =s0_ WATER AND SEWER Capital Expenditures 1953 ;dillys Jeep $1,212.00 later Meters 6,992.00 Special Meter for School 374.40 Light Plant 26.014 Gas Extractor 181.24 Installation Supplies and Couplings 116.56 Valve Locator and Misc. Equipment 66.50 $9,268.74 Expenses Salaries 2,700.00 -Maintenance Pasts and Supplies 757.27 Electricity 73.89 Truck Expense 216.90 village of Pridley -19•. Fridley, P innesotu. SCHEDULE #2 (Continued) jiI031)4 NTS BY FUNDS Ci?. THE YEAR 1955 'TER i w SEtirF.t (Continued) Expeinsea (Continued) Office :supplies 4;5.33 , r, 'Water r Purchases 35-71.b0 1'_aura r e 4c.79 Miscellaneous and Bank charges 170.08 Dues 10.00 790.95 5isburseiients - Sewer and Water ;17_219.69 PERM .NE :T I:,nP OV'IT I i FUND Serer Project #1 under Engineering - Plans and Spec. 053.85 Ropi':lru 111.10 Digging for Sewer Lateral 78.00 Total Disbursements - Sewer Pro ject i1 $1,072.95 . Sewer Project #2 Phelps-Drake 129,985.03 ;.finder Engineering - Plans & Spec. 735.43 1 a.uer Ehgineering - Survey & Eng. 5,115.85 Grading 61st Avenue 2,433.75 Lig ing for Connections 415.29 Miscellaneous 305.05 Total Disbu.rsahents - Sewer Project #2 136,990.40 Sewer Project #3 10. Sono 27,304.99 Minder E gins oring - Plans c" Spec. 757;'.30 Linder Engines:ring - Survey & E•'g. 1,14.42 MiseellaLeous 1(4.10 Total -• Sorer Project f3 29,346.81 - Sewer Pro je t #14 Lift Station at Rice Creek Bar'S .rocs a 45,667.60 Lift Station at Sylvan Park Lcton Construction 18,480.00 Minder Engineering - Plans 'cc• ),07.96 Minden - Survey & Eng. 1,082.15 Ldvor t .siz'g and Miscellaneous 73.10 Total Disbursements - Sewer Project A 68,370.81 -20- Village of 'Fridley Fridley, a J at-i-E - LE 2 (continued) DISBU RSEIITTITS BY FIJ DS 21.1E 1955 PERMZEK u��wi0: E i±F i i) !C o t r_u cl L Sewer and ;w tee: Sandstrom and H&f. .. Ph 136 Q0 Minder 7':;ngineer1 - Fian2 c S'eo. 3,996.50 6.50 e1.L11-wv 0., '7neeri g - Survey & Eng. 2 & 28 Tat ' Disbursements - Sewer & Water Project 90,777.68 Sewer crud Water Project # B Sandstrom and Haffner 69,038.50 Minder En ineering - Plans & Spec. 3,279.33 Minder Engineering - Survey & Eng. 3,079.75 Miscellaneous 101 .00_ Total Disbursements - Sewer & Water Project AB 75,501.56 Water Project #1 Land for Reservoir 2,500.00 Lametti & Sons 4,132.82 Minder Engineering - Plans & Spec. 1413.28 Advertising 46.70 Total Disbursements - Water Project #1 7,092.60 Water Project -{'2 • . Phelps-Drake 6,979.16 Minder En.gineering - Plans & Spec c, 678.70 Total Disbursements - Water Project #2 7,657.86 Water Project Phelps-Drake 62,4.31.67 Minder i .^.gineeriug - Plans & Spec. 860.89 Minder Engineering - Survey & Eng. 3,020.10 Total Disbursements - Water Project ,3A 66,312.66 , Water Project #3B Sandstrom and Hafnor 82,759.50 Minder 1 nzineering - Plans & Spec. 3,931.08 Minder Engincor_?.ng - Survey & Eng. 2,873.56 grading 7th Street 669.50 Clay and Gravel 279.00 Total Di sburso,me 1t`.s - Water Projeot #3B 90,712.64 Storm Sewer Project i1 Phelps-Drake 102,566.23 Minder Engineering - Plans & Spec. 3,591.07 Minder Engineering - Survey & Eng. 1,661.60 Concrete Culverts 280.01 Total Disbursements - Storm Sewer Project #1 108,118.91 Village of Fridley -21. lridlcy, Minnesota SCHEDULE !12 (Continued) DISBURASEMENTS ,BY FUND FOR THE YEAR 1955 PERMANENT IMPROV ;T F imi (Continued) Storm S:�wer Project #2 Peter Lametti 17,814.8.61 Kinder Engineering - Plans & Spec. 8447.81 Mir ie. - Survey & Eng. 71j.50 Advertising 9_00 Total Disbursement.; - Storm Sewer Project 112 19,1,20.92. Sewer and ?,Water Project --5 Phelps-Drake, Cost of Work Completed 257,262.78 Less : hold Back 36,569.42 Net Paid 216,&7,, Binder Engineering - Plans & Spec. 9,695.42 Minder Engineering - Survey & Eng. 10,T-9.54 t�U'J rti ing 50.75 laisco1Ia ells Total Disbursements - Sewer & Water Project #5 239,556.47 Sewer t.nd Water Dro. ect 6 Sandstrom Hofnc r, Cost cf Work Comp. 223,798.70 Less: Fold Back 33,4464.81 Net Paid 190,333.89 Minder fagi erring - Plans & Spec. 10,419.92 Minder Engineering - Survey & Eng. 7,702.744 Advertising 5i15 Grading & Scraping _. ,0u.00 Service Lies Ina Culverts 199.55 Total Disbursements - Sewer & Water Project f6 209,288.25 Sewer and Water Project #7 Montgomery Const. Co., Coat of Work Cm. 25,7440.00 Less: Hold Back 3,L61.00 Net Paid 21,879.00 inder Engineering - Plans & Spec. 1,ti3!).15 Minder Engineering - Survey & Eng. 1 10.00 Advertising 22.00 Total Disbursements - Sewer & Water ProjectO 23,5114.15 -i Street Improvements W. R. Oman - Oil Stabalizing Hyde Park 17,Q27.54 Plymouth 17,082.145 Sylvan Hills 3,333.70 Baker Van Buren 8,932.99 Mississippi L,6c17.22 149,2443.90 David Gulliford - Mississippi 44,865.00 Park Construction - Mississippi 1,191.51 -22- of Fridley ;;;-2 (Concluded) DISBUREELIENTS 3Y YUILL) FOR alICY .I.:12,22.L 1'1:21121E1T1. 1;11,1) (Continuod) Strt ,Continued) survey c. -Llacktop, Hyde plc. & Plymouth 1,0y3.67 L"'.:aing ado. sct:.-Ing Grade 288.8h JI-L1 550.00 50.50 Tct_l rsomento ;;troct luprovoments 57,263.62 Gal tnd Ficl Au,ent Fe 2,250.00 Ccmz-tinc: ecil sesments (to Gen. Yu:ad) 6,0CU.00 Columbia Heights - Principal on Sewer Contract Intercot on Serer Contract Pay:Int on Bond Principal :4,0Co.00 (-J.-. Bond Coupons Dank - Coupon Paying Charge ]04.02 Refu-A Special Assessment Railroad 346.t-V, Total Jaents - General & Unclassified 62,067.82 TOT,d, DI1PiT; Ll:31:17.3 - Pttriw...ctent Improvenent Fund - All Projee Al 295 066.33 •• • -23- Village of Fridley Fridley, Minnesota SCHEDULE #3 FIXED ASSETS F0.1: THE YEAR ENDED DECc EBER 31,1955 Balance Addition Balance GENERAL FUND 19,55 12/31J55 L).nd - Village Fall 1, OO.OU 4,b03.3? 6,103.37 Village :all 47,820.65 2,085.37 49,906.02 Typewriters 56.88 75.00 133.88 Adding Machine 240.00 240.00 Steel Storage Ca ,inet et Files 100.00 100.00 Monroe Folding Table 34.25 34.�5 Office Equipment 106.50 106.50 Chairs 469.00 48).00 Two Mop Cabinets 205.00 205.00 Check protector 50.00 50.00 Check Signer 300.00 300.00 Friden calculator 400.00 400.00 Duplic .tor 50.00 395.00 145.00 Cardinoor 16 .00 '16b.00 Protectograph 175.50 173.50 Audiograph Dictator 465.10 465.10 Inter - Cod. 146.02 146.02 Desks 100.00 100.00 Refrigerator 35.00 35.00 Blackboard & Drafting tale 9.82 39.82 TOTL GENERAL FUND X51,54.28 48,28 .18 59,63c.46 POLICE ; UN`1? 195=' Oldsmobile 42,636.24 42,636.24 . General Equipment 619.39 $74.95 694.34 Shortwave Receiving Set 87.36 87.36 Office Furniture & Fixtures 76.50 76.50 Jail Front & Bunks 1,525.00 1,525.00 Jail Plumbing & Bat'i Fixtures 621.03 72.04 693.07 Drunkometer and Cabinet 233.00 233.00 Extra Equipment , Police Cars 47.10 1.89.10 TOTAL POLICE K) $6,287.62 TIE-67977- $6,434.61 • _ I 1 -24- Village of Fridley Fridley, Minnesota. . SCHEDULE #3 (continued) FIXED ASSETS FOR THE YEAR ENDED DECEMBER 31, 1955, Balance Additions Balance 12-31-54 1955 12-31-55 Fire Trucks $7,958.17 Fire Tank Truck 1,477.90 $7,958.17 ,477.390 Hoses & Nozzles 2,455.60 $11211.30- 2,879.90 Fire Sirens & Switch 669.40 669.40 Fire Equipment 1,500.85 33.74` 1,534.59 Siren for Tanker 101.08 101.08 Pump Tanks 153.00 153.00 Helmets 83.45 83.45 Fire Pumps 894.62 23.68, 918.30 Two Cabinets on Auxilary Tanker 115.00 115.00 Letter File and Cabi:ets 130.25 115.25- 245.50 Resucitator 327.00 369.60 696.60 Battery Charger 31.50 31.50 Explosometer 86.67• 86.67 Flood Lights 87.38- 87. TOTAL ElIL T ,CTIO� FUND $ 15, 97.82 31140.62 3 17,038144 :zll;E;8 & r1,TL$ 'ND Meters - Regular $2,266.03 $6,992.00 $9,258.03 Meter for School 374.40 374.140 Installation Supplies 65.00 116.56 181.56 1953 Willys Jeep 1,212.00 1,212.00 • Light Plant 326.0.4 326.04 Gas Extractor 181.24 181.24 Valve Locater & Misc. Equip. 66.50 66.50 ,,ZUT :L SE:` _ 1L T ER FUND 32,331.03 $9,268.74 $114599.77 ,:GOAD AND BRIDGE FUND Construction $3,000.00 $19,785.96 $22,785.96 Staking & Equipment 482.45 1,082.31 1,564.76 Property & Damages 200.00 200.00 Fees & Con.iission 731.55 734,55 Street Signs 652.10 652.10 Equipment 131.50 _ 131.50 TOTAL ROAD & BRI:DGE FUND 4,4117.00 X21,651.87 $26;068.87 LIQCiOR STORL F IND Fixed Assets $41,373.89 $ 3,408.54 $44,782.43 Less : Depreciation 9.561.01 Book Value 35,221.42 TOTAL FIXED ASSETS, DECi :°iT3ER 31, 1955 $ 156,001.57 ! -25- Village of Fridley Fridley, Minnesota SCHEDULE INSURANCE IN FORCE DECEMBER 31, 1955 Period Aiunt Policy No. Company Coverage Date Expiration Coverage Premium Memo OC 344112 Seaboard Fire & Marine Insurance Co. Fire & extended coverage, Village 1- 3-55 1- 3-56 $50,000.00 $297.18 5 yr• annual pay. of New York Hall, Fire Dept. and Police Station 6461-3 University Avenue N.E. 625782 Standard Fire Insurance Co. of Hartford Fire & extended coverage, Contents, Village Hall and Police Dept. 1- 3-55 1- 3-56 1,000.00 8.90 CAG 2888584 Century Indemnity Company of Hartford Bodily injury Liability 6-18-55 6-18-56 50/100,000.00 1,245.96 Liquor Stores and Property damage - Automobile 5,000.00 Firemen excluded Property damage - except Automobile 5/25,000.00 AT 35691 Century Indemnity Company of Hartford workmen's Compensation and Incl. Liquor Stores Employers' Liability 10- 1-55 10- 1-56 Actual payroll 651.81 Deposit Premium Incl. Firemen & Police 37cA 5845 Aetna Casualty & Surety Company . Fire & theft & comprehensive 8-20-55 8-20-56 125.75 1951-ICC Fire Truck ACV 2,296.00 1939 Dodge Fire Truck ACV 1,100.00 1942 Dodge Auxiliary Fire Truck ACV 400.00 1953 Willys Truok ACV 1,100.00 1953 Oldsmobile 88 250.00 Deductible Collision OFFICIAL BONDS IN FORCEt DECEMBER 31, 1955. 37s 35758 Aetna Casualty & Surety Company Employees Honesty Blanket Bond 8- 4-53 8- 4-56 10,000.00 135.00 Clerk, Treasurer, Assessor & Councilmen excl. 37s 37047 Aetna Casualty & Surety Company Deputy Assessor 4- 1-55 14, 1-57 500.00 9.25 Marvin C.Brunsell 37s 37162 Aetna Casualty & Surety Company Deputy Assessor 4- 1-55 4- 1-57 500.00 9.25 L. S. Stuck 37s 36807 Aetna Casualty & Surety Company Treasurer Bond 12-31-54 12-30-57 5,000.00 67.50 Marvin C. Brunsell 1 --- - - -26- Village of Fridley Fridley, Minnesota SCHEDULE #5 ' LIQUOR STORES INSURANCE IN FORCE DECEMBER 31, 1955 Term Deferred _Policy No. Company Coverage AgglAnt From To Premium Premium Memo FIRE AND EXTENDED COVERAGE OC 344103 Seaboard Fire & Marine Ins. Co. Contents - exclusing stock, 7365 Central $8,500.00 10-1-55 10-1-56 $76.68 $57.52 80% Co.Insuranoe 6251417 The Standard Fire Insurance Co. Improvements & betterments, 7361 Central 3,400.00 7-1-55 7-1-56 31.66 15.82 80% Co-Insurance OC 3141469 Seaboard Fire & Marine Ins. Co. Building, 3710 East River Road 13,000.00 10-1-55 10-1-56 82.71. 62.148 90% Co-Insurance OC 650135 British General Insurance Co. Furniture & Fixtures, 3710 E. River Rd. 5,000.00 9-20-55 9-20-56 39.50 28.50 90% Co-Insurance OC 650173 British General Insurance Co. Liquor Stock, 3710 East River Road 25,000.00 9-20-55 9-20-56 197.314. 112.50 80% Co-Insurance OC 344510 Seaboard Fire & urine Ins. Co. Liquor Stock, 7365 Central 35,000.00 11-1-55 11-1-56 329.78 274.82 80% Co-Insurance BUSINESS INTERRUPTION OP 22037 Aetna Insurance Company 7361-9 Central Ave. N.E. 10,000.00 7-2-55 7-2-56 356.10 178.20 50% Co-Insurance PUBLIC LIABILITY SGL 6886 National Indemnity Company Bly. Injury and Property Damage ( 50/100,000.00 12-1-55 12-1-56 934.96 857.05 ( 5,000.00 MONEY AND SECURITIES BF 25876 The Century Indemnity Company On premises 3,750.00 ) 10-1-54 10-1-57 215.25 125.74 Messenger - off premises 3,750.00 ) MSP 49165 United States Fidelity & Guaranty On premises 5,000.00 ) 5-1-55 5-1-58 374.12 291.00 7361-9 Central On premises 600.00 ) 6163 University Messenger - off premises 5,000.00 ) 7361-9 Central Messenger - off premises 1,000.00 ) 6463 University DDD 399530 Employers' Liability Assurance On premises 3,750.00 ) 1-15-53 1-15-56 558.25 6.38 Messenger - off premises 3,750.00 ) Limited to loss over $10,000.00 37MS997 The Aetna Casualty & Surety Co. On Premises 2,500.00 ) 6-1-53 6-1-56 277.13 47.30 7361-9 Central On Premises 3,000.00 ) 3710 E. River Rd. Messenger - off premises 2,500.00 ) 7361-9 Central Messenger - off premises 3,000.00 ) 3710 E. River Rd. FIDELITY BOND 373 35758 Aetna Casualty & Surety Co. Blanket Bond 10,000.00 8-4,-53 8-4.56 270.00 52.50 TRANSPORTATION POLICY IM 1-210233 Aetna Casualty & Surety Co. Merchandise Transfer 2,000.00 1+-8-54 4-8-57 112.50 146.88 25 mi. radius WORKMEN'S COMPENSATION WC 35691 British General Insurance Co. Payroll 10-1-55 10-1-56 183.00 137.25 MERCANTILE OPEN STOCK BURGLARY BO 69153 The Century mn Inde t1Uo. Open Stock Burglary 10,000.00 10-1-5L 10-1-57 14145.00 259.18 140% Co-Ins., 7361 Central OS 127055 United States Fidelity & Guaranty Open Stock Burglary 10,000.00 11-13-53 11-13-56 445.00 127.18 40% Co-Ins., 3710 E.R.R. 37 BM872 Aetna Casualty & Surety Co. Open Stock Burglary 5,000.00 11-18-53 11-18-56 175.00 .68 0 4�0 (limited to loss over $10,000.00) 5 Co-Ins., 3710 E.R.R. TOTAL DEFERRED PREMIUM $2,760.98 I