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1965 Financial Statements � � # � � � � � � � � ► � CITY OF FRIDLEY, MINNFSOTA � ` FIi�ANCIAL STATE�'i1ENTS �. DECEMEER 31, 1965 � �.� . � � t' �_;., ' �- �., • F �;_, � -€ �. � t::. �' � �. � � �. xi. ; � E �G.:, � �.� k _ � � CITY OF FRIDLEY� MINNESOTA ELECTEb AND APPOINTED OFFICIALS � DECEMBER 31, 1965 4 . � Term of � office expires �_ January Elected � , Mayor - William J. Nee 19bb Councilmen Raymond E. Sheridan 1968 �v Glenn W. Thompson 1966 Jack 0. Kirkham 195a John C. Wright 1967 �•� ' Effective January 4, 1966 Mayor - Jack Q. Kirkhatn 1969 � , Councilmen � Leonard W, Samuelson* 1967 John C. Wright 1967 Raymond E. Sheridan 1968 David 0. Harris 1969 Municipal Judge - Elmer Johnson - 1970 � � Appointed - Manager - Earl P. Wagner � � C1erk-Treasurer - Marvin C. Brunsell � Attorney - Wyman Smith� � Assessor - Mervin Herrmann � � Engineer - Nasim Qureshi � � � � * Appointed January 4, 19b6 to fill unexpired term of Jack 0. Kirkham. %�%ti Virgil C. Herrick appointed February- 7, 1966. � � � t' �>, ..� � �. CITY OF FRIDLEY, MINNESOTA � - y TABLE OF CONTEN'TS � _� r Pa e � Independent certified public accountant's opinion 1 .,� -Comments 3 � Balance sheets - all funds 4 � i � , General Fund CoIIUnents 8 I � Balance sheet 10 � Analysis of changes in fund balan�e 11 Statement of revenue - actual compared with budget estimates 12 � Statement of expenditures - actual compared with budget estimates 13 � � Special Revenue funds Co�nents 19 � Balance sheets � 20 Statements of cash receipts and disbursements 21 Bond funds Comments 22 Balance sheet 23 ` Statements of cash receipts and disbursements 23 �! � Special Improvements Revolving Fund Co�nent s � 24 u� Balance sheet 25 Statement of cash receipts and disbursements 27 Special assessment �unds � � Counnent s 28 Balance sheets 29 Construction � Balance sheets 30 Statements of cash receipts and disbursements 36 Debt service '� Balance sheets 44 ,� Statements of cash receipts and disbursements 48 Debt service requirements 53 General debt service funds • � Comments 54 � Balance sheets 55 ,� Statementis of cash receipts and disbursements 56 Debt service requirements 57 � � � ..� �: _ � CITY OF FRIDLEY, MINNESOTA TABLE OF CONTENTS CONTINUED) �. � �: page � Trust and agency funds L..:. Conunents 58 Balance sheets 59 Statements of cash receipts and disbursements 59 �.:.. Municipal liquor funds Comments 60 � Balance sheets 61 Operating Balance sheet 62 Statement of income and retained earnings 63 ��; ' Statement of income for individual stores b4 Statement of gross profit 66 Statement of operating expenses 67 �' Statements of operating expenses for individual off sale stores 68 Statements of operating expenses for individual on sale stores 70 Debt service Balance sheets -- 71 Statements of cash receipts and disbursements 71 �.� Debt service requirements �3 �` Sewer and water utility funds �A Comments Z4 Balance sheets � 75 �.; Operating �, Balance sheet 76 �v Analysis of changes in surplus 79 , 5tatement of income 80 Statement of operating expenses ` 82 �_ . Debt service ' Balance sheets 86 ,�^ � Statements of cash receipts and disbursements � 86 � Debt service requirements . 87 �. Statement of general fixed assets 89 �_ � � � � � � � .:� __. � i 6 CITY OF FRIbLFY� MINNESOTA °^ ; TABLE OF CONTENTS (CONTINUED) � • �f � Page � Miscellaneous information -� Summary statement of Treasurer cash receipts and disbursements 90 Statement of cash 92 , Statement of United States Government securities placed in • � escrow by depository banks for the safeguarding of City funds 93 � Investment in City of Fridley temporary bonds g4 j Bonds payable - all funds g5 _ Debt service requirements - all funds 101 ',� Assessed valuations, tax levies and mill rates � 102 Tax levies and tax collections 103 Insurance coverage 104 � Employees surety bonds 105 Escrow agent account - December 15, 1965 Comments 106 � Balance sheet 107 Statement of cash receipts and disbursements December 16, 1964 to December 15, 1965 107 Bonds payable 108 Debt service requirements 109 � .�1 .� � ' � � � � � � � ' . GEORGE M. HANSEN COMPANY � Certificd Public Acrnr�ntants 5501 EXCELSIOR BLVD. MINNEAPOLIS, MINNESOTA 55416 � 927-8709 �...' t �, � ' �, April 19, 1966 �_ To the City Council of Fridley, Minnesota �.�..- We have examined the accompanying financial statements of the respective funds- � of the City of Fridley, Minnesota for the year ended December 31, 1965. Our ' examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and sucr other auditing procedures as we considered necessary in the circumstances. The Escrow Agent Account (Pages I06 to 1C9) is not included as part of the finan- cial statements of the Gity, but included only as supplemental information. � Information contained in the Escrow Agent Account was obtained from the escrow agent. ��.� In our opinion, these statements (Pages 3 to 105 ) present fairly the financial � position of the respective funds of the City o� Fridley, Minnesota at December 31, �,,,,, 1965 and the results of their operations for the year then ended, in conformity with generally accepted governmental accounting pr.inciples applied on a basis consistent with that of the preceding year. �: I �j{`' � -�`,�,�y.� �,. ✓g!��..�.�. ��t..,�,�.r/�� WA � � � �i ' �� 1 � � • �~ 4 �;i �,_ 3 � CTTY OF FRIDLEY, MINNESOTA COMMENTS �� The Village of Fridley attained City status in accordance with a charter approved by the electorate September 10, 1957. The Charter provides f�r a form of govern- � ment designated as the "Council-Manager Plan." Under this plan as set forth in the Charter, "All discretionary powers of the city, both legislative and executive � shall vest in and be exercised by the city council. It shall have complete con- trol over the city administration, but shall exercise this control exclusively � through the city manager and shall not itself attempt to perform any administrative �_y work." The council is_ elected by popular vote and consists of five members, in- cluding the mayor who is chairman. The city manager is appointed by the council. �� The City financial statements are presented on the accrual basis of accounting ` ' whereby revenues are recorded when earned, except for general property taxes and General Fund special assessments which are considered as rever.ue in the year � cellected. Accordingly, receivables for general property taxes and General Fund �:. special assessments are offset by a reserve identified as unrealized revenue. ('` The financial statements which follow have been prepared to set forth individual '� fund balance sheets, analysis of changes in fund balance, actual revenue compared with budget estimates and other information. �y �� I � �, � � �. �{� C_ � � �. �` 5 �m. . � °`�. ___ � 4 ' iR CITY OF FRIDLEY, MINNESOTA "� � , BALANCE SHEETS - ALL FUNDS DECEMBER 3l, 1965 � � � � � . � � " � � � � � � � � " � �� -Special General revenue Bond `� Fund funds funds � Combined (Pa�e 10) (Page 2�) (Page 23) ASSETS � � Cash $ 3,562,397 $ 61,049 $100,247 $435,640 ' Cash with fiscal agents 376,540 Investments, at cost - City of � Fridley bonds (Page 94) 545,000 � Accounts receivable Other City funds _ 27,731 22 � State of Minnesota 263,583 39,965 44,204 , Other 773,555 52,725 Accrued interest receivable 49,260 678 3,330 Taxes receivable � Delinquent ._ 39,873 32,520 Deferred 5,004,933 Special assessments receivable Delinquent 596,287 1,369 Deferred Principal 4,014,225 860 � Interest 1,554,692 Inventories, at cost 176,728 349 Prepaid expenses and construction , costs 15,878 94 1,505 � Amounts to ,be provided by future revenue 886,098 59,950 Fixed assets, at cost or � appraised values � General 12,525,146 Other, less accumulated w� depreciation 1,480�030 � � Total assets $31�891,956 �249,581 1 9 6 �438,970 _ � Note - Not included as an asset is an undetermined amount to be received as Federal � aid for flood and tornado damage. � � :� W� � � 5 � �. � Special Improve- General Trust Sewer �, ' ments Special debt and Municipal and water General Revolving assessment service agency liquor utilities Fixed �� Fund funds funds funds funds funds Assets (Pa e 2 ) (Page 29) (Pa e 5 ) �Page 59) (Page 61) (Pa e 75) �PaQ� 89) �> . $ 69,493 $ 2,508,644 $ 45,949 $ 7,761 $159,693 $ 173,921 358,307 12,891 5,342 � 545 000 � �; 14,2ll 13,492 �� 179,414 - . 640,124 _ 80,706 �_ 460 41,302 1,361� 2,129 2,690 2,293 2,370 2,770,335 2,234,598 15,029 579,889 � 249,461 3,763,904 �:� 1,554,692 � _ 176,379 � 13,033 1,246 ' S52�547 30,027 94,910 148,664 �.3 , t , $12,525,146 �;.o . 258,312 1,221,718' ' 5347.476 �13,511,Ob5 52,295,]31 3 6 0 �697�24� ,�1.627. 138 SI2 52�.�.146 � _ �'-. � �. � ., 6 � . �� CITY OF FRIDLEY, MI?�NESOTA � � BALANCE SHEETS - ALL FUNDS DECEMBER 31, I965 =� � � Special .� General revenue Bond Fund funds funds � Combined (Page 10) (Page 20) (Page 23) � LIABIZITIES, RESERVES AIQD FUND BALANCE . ' � Liabilities '"� Accounts payable Other City funds $ 27,731 $ 8,648 � Public Employees' Retirement - Association , 51,280 Other 160,171 $ 28,978 91,231 $ 292 � Contracts payable 309,579 57,412 4,979 ,� � Retained percentage on contracts 79,847 I,012 Deposits payable 216,355 �00 Bonded indebtedness ,� Matured bonds and interest 21,100 - Future maturities � Bonds (Page 95) 9,952,000 Interest 2,622,049 Reserves for Contingencies 26,848 � Unrealized revenue 42,102 34,749 Encumbrances 1,208,017 7,386 Retirement of bonds and interest 1,979,833 Municipal State aid road � Construction 35,556 35,556 Maintenance 58,353 58,353 Retirement of revenue bonds 176,818 � Unencumbered appropriation balances 820,430 438,678 � Deficit (construction costs not financed) ( 438,030) ' - General fixed assets 12,525,I46 � Investment in fixed assets 1,3Q3,212 Gurrent surplus 378,150 Fund balance (defl,cit) 335,409 128,342 (61,209) � Total liabilities, reserves and fund balance $31,891,956 249 81 14 9 6 5438,970 � ��.. ,� � <� �. � � , �; � �' Special _ - Improve- General Trust Sewer ments Special debt and Municipal and water General � � Revolving assessment service agency Ziquor utilities Fixed i Fund funds funds funds funds funds Assets �'- (Pa�e 25) (Pa�e 29) (Page 55) (Pa�e 59) (Pa�e 61) (Page 75) (Page 89) � �� $ 5,569 $ 8,165 $ 5,349 �:. $ 51,280 �� $ 3,519 27,633 8,114 404 247,188 78,835 �, 76,576 139,679 15,307 $ 451 5,342 8, 149,000 1,560,000 108,000 135,000 1,911,995 653,906 16,373 39,775 26,848 � 2 690 2,293 2,370 � 1,200,631 1,900,752 79,081 � �J 65,920 110,898 381,752 �� ; � � ( 438,030) �_ _ $12,525,146 192,392 1, 110t820 �` 292,937 85,213 � 267,381 895 � �347�476 $13,511,065 .�2 295,]31 � 53•650 5697.243 �Z,627, 138 ,�12„�25. 146 �.�. � f k � • � 6r�.: �.� 8 . ;� CITY OF FRIDLEY, MII�TNESOTA "� � GENERAL FUND . COMMENTS � � � � The General Fund was established to account for the revenues anzl expenditures T'� necessary to provide basic governmental, services to the City such as general � government, public safety and highways. - �;� In the following stiatements revenues are recorded by source, while expenditures � are recorded by department. A plan of financial operation of the Fund is set forth in the annual budget adopted Y� �, by Council. The General Fund statements are prepared to show the budget estimate, actual amount and balance. A condensed summary of revenue and expenditures is �,� shown below: � REVENUE 1965 1964 � Amount Percent Amount Percent ;;j General property taxes $436,500 60.9 $377,331 63.3 -;-; Licenses and permits 70,694 9.9 46,178 7.8 � Fines and forfeitures 15,243 2.1 21,341 3.6 From use of money and property 4,711 .7 2,837 .5 From other agencies 94,837 13.2 63,510 10.6 Charges for current services 9,466 1.3 15,046 2.5 Other revenue 4,919 .7 Transfer from Municipal Liquor � Operating Fund 80,000 11.2 70,000 11.7 SZ16�370 100.0 5596.243 100.0 J� EXPENDITI3RE5 1965 1964 Cost per Cost per � Amount capita Amount capita .,!:3 General govermnent $165,892 $ 6.69 $156,981 $ 6.86 '"� Public safety „� Police 141,278 5.70 131,728 5.76 Fire 48,734 1.97 41,069 1.80 Other 39,329 1.59 38,384 1.68 � Highways �172,450 6.95 150,858 6.59 Sanitation and waste removal �� 5,228 .21 6,262 .27 Conservation of health 4,477•� .18 4,317 .19 � Library 1,500 .06 1,500 .07 City band 1,680� .07 1,791 .08 Recreation 26,008 1.05 20,973 .92 ' � Municipal parks 80,124 3.23 62,311 2.73 Hospitalization insurance 6,450 .26 4,379 .29 ,�693�150 2 96 ,�620,553 2 14 w� � s>a �' - i 9 � The contract payable to the City of Fridley Volunteer Firemen's Relief Association represents the balance of a five-year contract at four per cent interest which began in July 1964 for construction of the new fire station. ' � �_ The reserve for unrealized revenue shown on the balance sheet consists of taxes and special assessments receivable which will be recorded as revenue in the year collected. ��,-� � , l_.. ' � r,_. � �.. �. !�� . �� , . , � � �,W � !, � �... � , �� . � [` � ' L.. � �-- � � . �... : � —-10 __� � n , CITY OF FRIDLEY, MINNESOTA �2� � GENERAL FUND � BALANCE SHEET - DECEMBER 31, 1965 . � � � ASSETS ' .,� Cash $ 61,049 Accounts receivable ; Other City funds - Municipal Liquor Operating Fund , 22 _.� State of Minnesota � Cigarette and liquor taxes $39,167 � Civil defense reimbursements 798 39,965 Other 52,725 ".'� Accrued interest receivable 678 Delinquent taxes receivable 32,520 __. __Special assessments receivable •� Delinquent 1,369 Deferred - Principal 860 ' �nventories, at cost 349 � Prepaid insurance 94 � Amount to he_provided by future revenue � 59�950 Total assets S249 581 LIABILITIESi RESERVES AND FUND BALANCE Liabilities -'� Accounts payable $ 2$,978 Contracts payable � City of Fridley Volunteer Firemen' s Relief , Association $44,204 Other 13,208 57,412 Deposits payable - Other 100 Reserve for unrealized revenue 34,749 � Fund balance 128,342 Total liabilities, reserves and fund balance 5249,581 �9� . � � � � r� ,� � '.� � f �a`� 11 GITY OF FRIDLEY� MIiVNESOTA GENERAL FUND ANALYSIS OF CHANGES IN FtND BALANCE �. YEAR ENDED DECII�IBER 31, 1965 �:. �N.� Actual � � Budget over (under) , Actual estimate estimate � Fund balance January 1, 1965 $105,312 Prior year' s adjustments `" 1. To adjust December 31, 1964 accounts receivable to actual ( 86) 2. To adjust December 31, 1964 accounts �- payable to actual ( , 104) Fund balance January 1, .1965 � after adjustment $105,122 $105,122 Add rever.ue (Page 12) 716,370 ,678,176 38 194 ' Total � $821,492 $783,298 $ 38,194 Deduct expenditures (Page 13) 693, 150 703, 176 - 10 026) �'. Fund balance December 31, 1965 ,�128�342 ,� 80 122 8 22 � �.; ��j . �a ��.� �y �, �� , 12 ___ �\� CITY OF FRIDLEY, MINNESOTA -° GENEF.AL FUND STATEMENT OF REVENUE - ACTUAL COriPARED WITH BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1965 � � � :� a Actual } Budget over (under) � Actual estimate estimate � General property taxes � Current ad valorem $426,835 $431,266 =' $( 4,431) � . , Delinquent ad valorem 9,535 4,OOQ 5,535 � Forfeited tax sale apportionments 130 130 '� Total general property taxes 436 500 435 266 1 234 Licenses and permits � Business regulatory licenses $ 21,232 $ 13,000 $ 8,232 -Nonbusiness licenses and permits - 49,462 43,000 � 6,462 � Total licenses and permits 70 694 56 000 14 694 � � Fines and forfeitures - Municipal Court 15 243 21 000 5 757) Revenue from use of money and property � Interest earned $ 3,403 $ 4,000 $( 597) Rents 1,308 � 10 1,298 Total revenue from use of money and property 4 711 4 O10 701 Revenue from other agencies ,� Shared State taxes `� Cigarette and Ziquor $ 76,102 $ 50,000 $ 26,102 Mobile home registration fee 10,107 7,000 3,107 � Mortgage registry 8,628 8,000 628 Total revenue from other agencies 94 837 65 000 29 837 Charges for current services �� General Government $ 3,452 $ 4,300 $( 848) Public Safety 2,387 3,300 " ( 913) � C�nservation of Health 233 315 ( 82) Recreation 3,394 4,700 1 306) Tota1 charges for current services 9 4b6 12 615 3 149) � � Other revenue 4 919 4 285 634 ,:� Transfer from Municipal Liquor `� Operating Fund 80 000 80 000 � Total revenue 5716,370 S678i176 S 38,194 � � -� �:� � I _ � iu, � 13 � CITY OF FRIDLEY, MINNESOTA �: GENERAL FUND � STATEMENT OF EXPENDITURES - ACTUAL COMPARED WI':��GET ESTIMATES YEAR ENDED DECEMBER 31, 1965 Actual � Budget over (under) Actual estimate estimate �_ _'_` General government � Mayor and Council �,_. Personal services $ 14,541 $ 18,022 $( 3,481) Contractual services 6,786 5,350 1,436 Commodities 1,321 800 521 � Other charges 721 400 321 Capital outlay 645 200 445 �, Total _ 24 014 24 772 758) �- Manager Personal services $ 23,787 $ 23,896 $( 109) � Contractual services 1,620 1,225 395 Co�nodities 576 725 ( 149) Other charges 239� 225 14 Capital outlay , 797 950 153) Total $ 27,019 27 021 $( 2) � Municipal Court -" � Personal services $ 19,778 $ 18,400 $ 1,378 � Contractual services 469 1,890 ( 1,421) Commodities 453 525 ( 72) �° Other charges 961 970 ( 9) �r Capital ourlay 290 200 90 TotaL 21 951 21 985 , 34) �, Elections and Voters' Registration Personal services $ 5,859 $ 5,300 $ 559 Contractual services 114 305 ( 191) � Commodities 581 700 ( 119) Other charges 41 40 i Capital outlay 250 ( 250) Total 6 595 ' � 6 595 $ -0- �., Finance .. � Clerk-Treasurer � Personal services $ 16,543 . $ 17,828 $( 1,285) Gontractual services 2,852 3,040 ( 188) Gcmmodities 3,242 �+,415 ( 1,173) �� Other charges . 677 770 ( 93) �._.. Capital outlay 4,595 1,110 3,485 , 'rotal 27 909 27 163. 746 � � � �. �, �4 R ____ l �. CITY OF FRIDLEY, MINNESOT� >- � , � � _ d GENERAL FIJND i STATEMENT OF EXPENDITiTi?ES - ACTUAI, COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEriBER 31, 1965 Actual Budget over (under) Actual estimate estimate , General Government (continued) ..r Finance (continued) � Assessor � '? Personal services $ 16,754 $ 16,085 $ 669 � .d Contractual services 1,054 2,090 ( 1,036) Co�nodikies 465 700 ( 235) Other charges 191 300 ( 109) y� Capital outlay 161 300 139) Total 18 625 19 475 850) Independent auditing and accounting 3 700 3 700 .�''� Total Finance $ 50,234 50 338 104) i ,;� Legal -- Personal services $ 6,980 $ 8,000 $( 1,020) Contractual services 120 525 ( 405) Co�nodities 88 88 Total 7 188 8 525 1 337) Administrative Offices ..:� Charter Coffinission - Contractual services $ 50 $( 50) "� Civi1 Service � Personal services $ 244 225 19 Contractual services 25 ( 25) ,� Board of Appeals - Contractual services 50 50) � Total Administrative Offices 244 350 106} � P lanning and Zoning ,� Personal services $ 2,722 $ 3,700 $( 978) Contractual services 90 25 65 � Commodities 88 150 ( 62) 4� Other charges 15 ( 15) Total 2 900 3 890 990) �� General Government Buildings � Personal services $ 191 $ 2,150 $( 1,959) Contractual services 8,862 10,340 ( 1,478) u� Coaunodities 877 400 477 Other charges 2,394 1,300 1,094 Rental of Fire Station 13,263 13,000 263 -� Capital outlay 160 250 90) Total 25 747 27 440 1 693) Total General Government ,�165.892 1 0 _ 1 _ 024) � �. __ t , � � � ::r �'�� . 15 � . CITY OF FRIBLEY, MINNESOTA GENERAL FUND � STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTI'.KATES (CONTINUED) �:., YEAK ENDED DECEI�'iEER 31, 1965 �. Actual � Budget over (under) � Actual estimate estimate Public Safety �� Police Protection �_ Personal services $113,254 $115,592 $( 2,338) Gontractual services 7,544 6,300 1,244 `- Gommodities 8,111 10,900 ( 2,789) � Other charges 4,440 3,725 715 `° Capital outlay 7,929 7,�800 129 Total $I41,278 144 317 3 039 � Fire Protection - Personal services � $ 33,082 $ 33,498 $( 416) � Con�ractual services 4,717 7,700 ( 2,983) Commodities 4,361 /�,300 61 etr.�r charges 3,666 3,200 466 Capital outlay 2,908 1z625 1,283 Total S /+8,734 50 323 1 589) Protective Inspection - � Personal services $ 20,614 $ 21,334 $( 720) � ContracCua�. services 8,342 8,225 117 Canunodities 796 575 221 �ther charges 556 300 256 �,�, Capital outlay 112 150 � 381 . _ Tota1 $ 30,420 30 584 S( 164) �� Civil Defense �'°' Fersonal services $ 4,701 $ 4,740 $( 39) Cont-ractual services 699 6G0 99 � Cor,rnodities 49 285 ( 236) �:. Other c�arges 8 25 ( 17) �apital outlay 152 152 Total $ 5,60Q 5 650 41) �. Animal G�ontrol Contractual services $ 3,300 $ 3,300 � Commodities 50 ( 50) Other charges 40 40) Total �_ 3,300 3 39Q 90) � �k Total Public Safety 229 3!+1 234 264 4 923) �� '° R E._ _____ ` �6 , f; � , ,� CITY OF FRIDLEY, MINNESOTA GENERAL FUND STATF.NIENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) XEAR ENDEU DECEMBER 31, 1965 � , a �� :� � � � � Actual `� Budget over (under) Actual estimate estimate '� , � Highways , Engineering � ; Personal services $ 19,262 $ 20,688 $( 1y426) ,� Contractual services 3,757 4,250 ( 493) ' Commodities 2,10$ 2,150 ( 42) Other charges 929 800 129 �� Capital outlay 2,068 2,068 =� Total 28 124. 27 888 236 Street and Al1ey �;� Personal services $ 47,975 $ 37,380 $ 10,595 Contractual services 5,143 9,150 ( 4,007) � Gommodities 16,208 18,450 ( 2,242} � Other charges 7,536 7,295 241 Capital outlay 17,264 15,300 1,964 Total . 94 126 87 575 6 551 Snow and Ice Removal Personal services $ 9,455 $ 6,000 $ 3,455 Contractual services 1,042 1,900 ( 858) � Commodities � 3,935 4,000 ( 65) '� Other charges 781 100 681 �� Capital outlay 945 2,500 1 555) Total 16 158 14 500 1 658 Traffic Signs, Signals and Markings Personal services $ � 275 $ 1,400 $( 1,125) .:,:� Contractual services 2,103 1,200 903 Co�odities 1,124 1,000 124 � Other charges 55 100 ( 45) � Capital outlay 2,000 2 000) Total 3 557 $ 5,700 $( 2,143) Equipment Maintenance � Personal services $ 722 $ 5,300 $( 4,578) Contractual services 577 1,400 ( 823) � Commodities 1,356 1,675 ( 319) ,� Other charges 1,060 SO 1,010 Capital outlay 455 750 295) � Total 4 170 9 175 S 005) � Street Lighting - ContractuaZ services 26 315 26 418 103) Tota1 Highways 172 450 171 256 1 194 � `� �_ 17 �` CITY OF FRIDLEY, MINNESOTA GENERAL FUiQD , STAfi EMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED} YEAR ENDED DECEMBER 31, 1965 �}- Actual :,� Budget over (under) �' Actual estimate estimate Sanitation and Waste Removal Storm Sewers �. Personal services $ 2,708 $ 2,400 $ 308 Contractual services 539 1,525 ( 986) " Commodities 683 1,250 ( 567) � Other charges 881 200 681 Capital outlay 500 500) - � Total 4 811 5 875 $ 1 064) �° Weed Eradication Contractual services � $ 410 $ 515 $( 105) �. Commodities 7 I5 ( , 8) Total 417 530 113) , Pest Control - Contractual services 150 150) Total Sanitation and Waste � Removal 5 228 6 555 - l 327) �' Conservation of Health � °ersonal services $ 3,672 $ 3,672 Contractual services 785 750 $ 35 �, Commodities 20 20 Total Conservation of Health 4 477 4 422 � 55_ � I�ibrary - Other charges 1 500 1 500 �:,. City Band � Personal services $ 850 $ 850 �-- Commodities 830 650 $ 180 Other charges ` 180 ( 180) �' Total City Band $ 1,680 $ 1,680 $ _0_ �,. Recreation Administrative $ 4,702 $ 6,003 $( 1,301) �# Baseball 1,930 1,530 400 Playgrounds 3,851 3,617 234 Winter Program 2,415 3,900 ( 1,485) Youth Program 3,728 5,500 ( 1,772) -- Adult Program 2,198 4,070 ( 1,872) Beach Program 7,184 6,90U 284 �` Day Camp 1,400 1 400) �,,, Tota1 Recreation 26 OQ8 $ 32,920 6 912) €, � �._. ._,� __ T 18 i CITY OF FP,IDLEY, MINNESOTA � ' 9 GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES �CONTINUED) � YEAR ENDED DECENIBER 31, 1965 � Actual � Budget over (under) Actual estimate estimate �`� _ C Municipal Parks Personal services $ 24,723 $ 23,025 � $ 1,698 � Contractual services 7,472 11,080 ( 3,608) ; Commodities , 2,524 1,950 574 ° Other charges 3,700 3,525 175 Capital outlay 41,705 33,633 8,072 '� Total Municipal Parks 80 124 73 213 6 911 -� City contribution - Hospitalization ''� insurance 6 450 6 450 ,,� Total expenditures $693a150 5�03,176 �10,026) �� .� � � w'.� � ,..� �'� f�� . � ' � � 19 � � CITY OF FRIDLEY, MINiJES�TA SPECIAL REVENUE FUNDS COMMENTS �_ � � Municipal State Aid Fund - This fund was established in 1961 to account for gaso- line tax collections apportioned to the City from the State of Minnesota for street construction and maintenance. �� Urban Renewal Fund - The purpose of this fund was to account for expenses incurred by the City for urban renewal projects in the City. The urban renewal program was � voted down by the electorate in the 1965 City election. A transfer was made from the General Fund to close the fund. F��od Disaster Fund - This fund was established during �965 to account for expenses � incurred by the Cxty for flood control. An amouTt, undetermined as of December 31, 1965, for Federal relief will be received by the City during 1966. � Tornado Disaster Fund - This fund was also established during 1965 to account for expenses resulting from tornado damage in the City. Advances of $254,170 were � received from the Federal Government during the year for partial reimbursement of � expenses. The final settlements for tornado relief should b� received during 1966. ' An account receivable for the relief was not set up as of December 31, 1965 be- cause the amount was undetermined. �� ., . t �� . � ' a.�. �� ,� � . �_ � � �_ _ ,na� 20 �� CITY OF FRIDLEY, MINNESOTA � �� SPECIAL REVENUE FUNDS BALANCE SHEETS - DEC�IBER 31, 1965 � � Municipal Flood Tornado � State Aid Disaster Disaster � Combined Fund Fund Fund ASSETS � Cash $100,247 $ 58,633 $(17,843). $ 59,457 Account receivable - State of Minnesota � (gasoline tax allotment for con- �� struction) 44,204 44,204 Prepaid construction costs 1,505 1,505 .� Total assets 5145,956 5104�342 ,�(17,843) 9 4 '� LIABILITIES RESERVES AND FUND BALANCE � Liabilities f� Accounts payable � w Storm Sewer Project No. 5 Special Assessment Construction Fund $ 8,648 $ 8,648 Other 91,23I 785 $ 90,446 Contracts payable 4,979 1,000 3,979 Retained percentage on contracts 1,012 1,012 Reserves for �� Encumbrances 7,386 7,386 Municipal State aid road Construction 35,556 35,556 1� Maintenance 58,353 58,353 Fund balance (deficit) 61 209) 17 843} 43 366) Total liabilities, reserves and fund balance ,5145.956 S10l-�,342 1 843) S 59�457 ,� �� Note - Not included as an asset is an undetermined amount to be received as Federal �.� aid for flood and tornado damage. � � � �� _ ,�� 21 CITY OF FRIDLEYz MINNESOTA . SPECIAL REVENUE FUNDS STATF'MENTS OF CASH RECEIPTS AND DISBtIRSEMENTS YEAR ENDED DECEMBER 31, 1965 Municipal Urban Flood Tornado State Aid Renewal Disaster Disaster Combined Fund Fund Fund Fund Cash balance January 1, 1965 11 033) 11 033) � Receipts ' L_ Gasoline tax apportioned by the State of Minnesota $ 19,750 $ 29,750 � Federal relief • 254,170 �254,170 � Transfers from other City funds General Fund 351 $ 351 � 1965 Street Improvement Project �, � Special Assessment Construction Fund 9,863 9,863 �- Improvement Bonds of 1965 Special ' � Assessment Debt Service Fund 45,718 45,718 Total receipts $329,852 �75,331 351 $254,170 Total beginning cash and receipts � $318,819 64 298 351 254 170 � Disbursements Persanal services $ 35,321 $ 278 $ 7,185 $ 27,858 Contractual services 160,687 257 160,430 � Commodities 9,086 43 5, 1I4 3,929 � � Other charges 7, 187 30 4,661 2,496 Capital outlay 626 626 � Maintenance 2,135 $ 2,135 Construction 586 586 �~ • Transfer to 1965 Street Improvement Project - Special Assessment Con- � struction Fund 2,944 2,944 f �� Total .disbursements $218.572 $ 5,665 351 $ 17,843 194 713 �- Cash baZance December 31, 1965 100 2 7 .��.8 633 � -0_ .�(17,843) �g�457 � i�� _.� �� w: �. E �, __�2 ,�� CITY OF FRIDLEYLMINNESOTA BOND FUNDS COMMENTS Park Construction Fund - Park Bonds totaling $300,000 were issued in 1962 and 1963 for the purposes of acquiring land and developing park tac.ilities in various areas o� the City. During 19b5 the balance remaining in the fund was transferred to the General Fund to help finance park improvement projects in that fund. City Hall Construction Fund - Proc�eds from the sale of the $500,000 Civic Center Bonds are accumulated in this fund for construction of additional city hall � facilities. Temporary bonds totaling $45,000 issued in 1964 were redeemed during � 1965. �� e� � ..� ,� � �a � � �� .d . �,� i,� � � �� + 23 CITY OF FRIDLEY, MINNESOTA BOND FUNDS � BALANCE SHEET - DECEMBER 31, 1�� ; Park City Hall � Con- Con- Combined struction struction ASSETS t �,_. Cash $435,640 $435,640 Accrued interest receivable 3,330 3,330 � Total assets 8 0 8 0 �.. � LIABILT�TY AND FUND BALANCE L � Liability - Accounts payable - Other $ 292 $ 292 '"� Unencumbered appropriation balance 438,678 438,678 �_; Total liability and fund balance 38 0 4 8 9 0 � STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECkM BER 31, 1965 �m Cash balance January 1, 1965 $ 4�478 7 999 3 521) �y Receipts Proceeds from sale of bonds $500,000 $500,000 �4` Accrued interest on bonds 1,816 1,816 Interest on investments 6,650 150 6�500 � Total receipts 508 466 150 508 316 �-- Total beginning cash and receipts $512,944 �8�149 $504,795 "� Disbursements �__ Capital outlay Professional services $ 21,952 $ 21,952 �• Contractual services 118 118 � Commodities 3 3 '�' Land purchases 2,082 2,082 Transfers to other City funds � General Fund to transfer fund balance for �.. park construction projecrs in General Fund 8,149 $8,149 Civic Center Bor.ds of 1965 Debt Service � Fund for payment of temporary boncis 45,000 45,000 " Total disbursements 77 304 8 149 69 155 � Cash balance December 31, 1965 3 6 0 S� -0- S435a640 e.: � � �. __24 __ � i CITY OF FRIDLEY, MINNESOTA SPECIAL IMPROVEMENTS REVOLVING FUND COMMENTS The purpose of this fund is to provide temporary financing for small improvement � projects. It has been used also to provide cash to special assessment debt -service funds which have incurred cash deficits due to bond and interest maturities in advance of collection of corresponding special assessments receivable. Money for these purposes has been provided mainly from balances in old inactive con- � struction and debt service funds, water and sewer connection assessments and improvement escrow deposits. • � .�J � � � � � _ u� � y� -� ,,a,� � �� `� t ' � 25 CITY OF FRIDLEY, ?�IINNESOTA SPECIAL IMPROVEMEI�'TS REVOLVIh'G FUND w BALANCE SHEET - DFCEMBER 31, 1965 �. �� ,. � ASSETS Cash $ 69,493 � Accrued interest receivable 460 . �` Special assessments receivable Delinquent 15,029 f Deferr�d - Principal 249,461 i .:,. Prepaid construction costs 13,033 �` � Total assets .��tZ.,�Z�t � �.,: �.. ' LIABILITIES AND FUND BALANCE Liabilities . Accou.nts payable $ 3,519 Deposits payable 76,576 Fund balance 267,381 Total liabilities and fund balance 5347,47� �,, �.:.. f` �,.; � t�. . � �_ �.. � �:. P, �; €, � C, A �� l �:. �,... � � 27 � � CITY OF FRIDLEY, MINNESOTA SPECIAL IMPROVEMENTS REVOLVING FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1965 �,.. � �, i' �_ Cash balance January 1, 1965 $ 32,902 � � Receipts Special assessments $55,735 Interest 3,299 Net increase in escrow deposits 6,610 � Transfer of costs to Storm Sewer Project No. 71 Special Assessment Construction ' Fund 6,458 � Overpayment by Anoka County 1,118 Total receipts 73,220 � �,, Total begir.ning cash and receipts $106,122 Disbursements Capital outlay $ 202 Refunds of special assessments 78 Transfer of service connection assessment collections to Refunding Bonds of 1964 Special � � Assessment Debt Service Fund 36,349 fiotal disbursements 36,629 � , Cash balance December 31, 1965 6 4 �.: R �� ,� �. � Y �::. E... i }, b.. �� - �. � Y.. � m,� _ 28 � CITX OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT FIINDS COMMENTS Special assessment funds are "established to account for special assessments levied � to finance impxovements or services deemed to benefit tl�e properties against which , � the assessments are levied. Primarily, the transactions accounted for in special d assessment construction funds are receipt of bond proceeds and disbursement of bond -� proceeds for construction work done. Special assessment debt service funds account � mainly for collection of assessments against benefited property owners and dis- bursement of assessment collections for the payment of bonds and interest. Several special assessment construction funds showed cash deficits as of Decembsr 31, � 1965. These deficits mean, in effect, that monies belonging to other City funds have been used as a means of temporary financing until sufficient bonds are sold and � specxal assessments receivable collected to gay current expenditures and eliminate the deficits. �The debt service fund for Improvement Bonds of 1963 shows a deferred tax levy of $718,300 to pay costs of water and sewer system expansion not assessed against benefited property. It is anticipated that a substantial portion of the unassessed costs wi11 be paid from earnings of the Water and Sewer Utilities Operating �und � and that annual collectible amounts of the levy will be canceled or reduced � accordingly. The debt service fund for the Refunding Bonds of 1964 shows a deferred tax levy of $2,011,135. This tax 1QVy was set up in the bond resolution for payment of the total bond issue; no consideration was given to the deferred special assessments receivable. The collections by the City of deferred special assessments, as well � as the transfers from the Sewer and Water Utilities Operating Fund, could be used to cancel or reduce the annual collectible amount of the deferred tax levy. The balance sheets for the debt service funds show future interest on beth special � assessments receivable and related bonds payable. It should be noted that pro- spective interest receivabl,e or payable becomes an actual asset or liability, ,� respectively, strictly as a function of time. Prepayments of special assessments 4i� have the effect of reducing the amount of interest collectible. Conversely, redemption of bonds before maturity would reduce the amount of interest to be � paid. .� �� :� . a� ,� �' " �.. Z9 CITY OF FRIBLEYLMIIv'NESOTA SPECIAL ASSESSt�NT FU?QDS �- BA�NCE SHEETS - DECEMBER 31, 1�� .. �„ Con- Debt � struction service � Combined Pa e 30 �Pa�e 48) ASSETS �. . � �. Cash $ 2,508,644 $ 697,380 $ 1,811,264 Cash with fiscal agents 358,307 358,307 Investments, at cost - City of Fridley � bonds (Page 94) 545,000 545,000 Accounts receivable ' Other City funds 14,217 8,648 5,569 State of Minnesota - 179,414 179,414 �` Other 640,124 640,124 Accrued interest receivable 41,302 5,755 35,547 i� Taxes receivable � Delinquent 2,690 2,690 Deferred 2,770,335 � 2,770,335 � Special assessments receivable - Delinquent 579,889 579,$89 Beferred Principal 3,763,904 3,763,904 Interest 1,554,692 1,554,692 ' Amounts to be provided by future revenue 552,547 552,547 � Total assets S13;511,065 �1,531,321 511,979,744 �� LSABILZTIES, RESERVES AND FUND BALANCE �_> Liabilities �. Accounts payable Other City funds $ 5,569 $ 5,569 �- Other 27,633 27,633 Contracts payable 247,188 247,18$ � Retained percentage on contracts 78,835 78,835 �� Bonded indebtedness Matured bonds and interest 15,307 $ 15,307 � Future maturities �_ Bonds (Page 98) 8,149,000 8,149,000 Interest 1,911,995 1,911,495- Reserves for � Contingencies 26,848 26,848 �--� Unrealized revenue 2,690 2,690 Encumbrances 1,2Q0,631 1,200,631 �" Retirement of bonds and interest 1,900,752 1,900,752 �; Unencumbered appropriation balances 381,752 381,752 Deficit (construction costs not financed) (438,030) (438,030) Fund balance __ 895 895 ��' Total liabilities, reserves and fund balance 13 11.065 1 1,321 11 79,744 �' _ .r --____. € �.: __� 3Q ___ �3 CITY OF FRIDI,EY, MINNESOTA SPECIAL ASSESSMENT CONSTRUCTION FI7NDS BALANCE SHE�;TS - DEC�IBER 3 Z, 1965 � - Sanitary Sewer, Storm Sewer Water � and Water Project Combined Project No. 58 No.34 � ASSETS � Cash $ 697,380 $(1,597� $17,639 Accounts receivable � Other City funds - Municipal State Aid Fund 8,648 � State of Minnesota 179,414 Other 640,Z24 2,089 Accrued interest receivable 5,755 _� Total assets ,51,531,321 S 492 1 639 � I, LIABILITIES, RESERVES AND FUND BALANCE Liabilities - � Accounts payable Other City funds - Storm Sewer Project No. 5 Special Assessment Debt Service Fund $ 5,5b4 Other 27,633 $ 777 Contracts payable 247,188 14,092 Retained percentage on contracts 78,835 �� Reserves for Contingencies 26,848 $ 210 3,500 Encumbrances 2,200,631 � Unencumbered appropriation balance 381,752 �- Deficit (construction costs not financed) (438,030) ( 730) Fund balance 845 282 N� Total liabilities, reserves and fund balance S1�,531a321 492 Z b39 � � � � � ,y� �. 31 j Sewer and Sewer and Sewer and Sewer and Sewer and Sewer and Sewer and � Water Water Water Water Water Water Water Project Project Project Project Project Project Project �" No. 48 I3o. 50 No. 55 No. 59 No. 67 No. 69 No. 70 �, r $ 1,817 $ 7,893 $ 556 $ 538 $14,564 $ 885 $ 3,197 4, I� �.. ' ,.- �.. � 1 81 S 89 $ 556 $ 538 14 6 88 S 3,197 �.y �: $ 274 �� $ 1,229 $ 7,893 $ 556 $ 513 $ 4,152 $ 885 374 � . 3,964 �il� 10,412 � (1,415) 5 8 8 __e_____ ?_5 � �. 1 8 1 893 S 556 $ 538 S?+.�64 88 S 3�197 �.. t:. �.. " � �_ �. c= . � �, d C..: _� __ -_ 32 � ; CITY OF FRIDLEY� MINNESOTA SPECIAL ASSESSMENT CONSTRUCTION FUNDS (CONTINUED) BALANCE SHEETS - DECEMBER 31, 1965 � Sewer and Storm � Water Sewer Sewer Project Project Project No. 75 No, 78 No. 5 � ASSETS � Cash $644,647 � $21,429 � Accounts receivable � Other City funds - Municipal State Aid Fund 8,648 "' State of Minnesota :� Other � Accrued interest receivable 5,755 Total assets 5650,402 S -0- 0 0 � LIABILITIES, RESERVES AND FUND BAI,ANCE � Liabilities - Accounts payable Other City funds - Storm Sewer Project No. 5 Special Assessment Debt Service Fund $ 5,569 Other $ 346 1,000 Contracts payable 5,430 $ 5,650 32,046 ' Retained percentage on contracts 10,755 628 8,876 � Reserves for Contingencies Encumbrances 262,531 697 16,238 � Unencurnbered appropriation balance 371,340 Deficit (construction costs not financed) (6,975) (33,652) Fund balance 4;� i Tota1 liabilities, reserves and fund balance 6 0 402 ,� -0- 30 0 7 k� �� _� � �A 33 � { Storm Storm Storm Storm Storm Storm Storm � Sewer Sewer Sewer Sewer Sewer Sewer Sewer Project Project Project Project Project Project Project i� No. 12 No. 43 No. 49 No. 52 No. 71 No. 73 No. 77 t t... $ 269345 $ 244 $ 606 $ 412 $ 1,254 $(14,167) $( 74) �_ 179,414 � 638,035 � �� 843,794 244 � 606 412 1 254 14 16 ) �( 74) �: t� � �: $ 22,998 $ 215 $ 1,272 _. 159,017 24,621 � 11,427 14,104 � w � $ 1,107 $ 606 $ 412 1,039 � 874,074 5,505 �.. (229,722) ( 863) (59,669) ( 74) �. � . �8 3 9 24 606 412 1 2 14 167) ��) �. � �� _ c � f � . �.. � �: t � +_.. � � t_ i � � � � � � �>: 35 CITY OF FRIDLEY� MINNESOTA SPECIAL ASSESSM�NT CONSTRUCTION FUNDS (CONTINUED) BALANCE SHEETS - DECEMBER 31, 1965 �_ ! �- 1963 Street 1964 Street 1965 Street 1966 Street Improvement Improvement Improvement Improvement Project Project Fro'e� ct Project . ASSETS � Cash $ 3,406 $ 4,277 $(33,503) $( 2,988) � Accounts receivable Other City funds - Municipal State �. Aid Fund � State of Mi.nnesota Other Accrued interest receivable � Total assets 3 06 4 27 �(33,,�03) S( 2,988) � Liabilities Accounts payable Other City funds - Storm Sewer Project No. 5 Special Assess- ment Debt Service Fund Other $ 751 � Contracts payable 6,332 Retained percentage on contracts 27,045 Reserves for � Contingencies $ 3,406 $ 966 �'°' Encumbrances 8,048 29,574 Deficit (construction costs not j financed) �4 737) 97 205) 2 988) L� Total liabilities, reserves `�` and fund balance � 3,406 $ 4�277 �(33,503) �( 2.988) �.._ . �: � �Y�. � �:. � . .,.� 36 __ . � CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT CONSTRUCTION FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS � YEAR ENDED DECEMBER 3I� 1965 S ani t ary � . . Sewer, Storm Sewer �� . and Water Project Combined � No.58 � Cash balance January 1, 1965 � 186,016 400) Receipts ,� Bond proceec3s $1,140,000 � Accrued interest on bonds sold 2,855 Interest on certificates of deposit and � temporary bonds I0,371 Refunds 7,483 State and Countq share of improvement costs 159,212 � Transfer from Municipal State Aid Fund 2,944 Transfers from special assessment debt service funds 53,411 Transfer of costs to other construction funds 62 Total receipts �1,376,338 TotaZ beginning cash and receipts $1,562,354 � 400) � Disbursements Capital outlay $ 8Q8,557 $ 483 � Interest 8,149 Transfer of costs from other construction funds 62 Transfers to corresponding debt service funds To pay interest applicable to construction periods 25,582 714 Y� Unexpended balance 6,303 Transfer of costs from other City funds Municipal State Aid Fund 9,863 Sgecial Improvements Revolving Fund 6,458 �� Total disbursements $ 864,974 1 197 Cash balance December 31,. I965 S 697�380 1 597) � � � � �� .� � � 37 � . Sewer Sewer Sewer Sewer Sewer � and and and and and �,,_. Water Water Water Water Water Water Project Project Project Project Project Project � ' No. 34 No. 48 No. 50 No. 55 No. 59 No. 61 `` $48,730 $ 1,902 $ 7,893 $ 987 $ b39 $ 691 �.� �� $36,C112 _ 36 012 84 742 1 902 7 893 987 639 _. 691 � 1 �'� $67,041 $ 85 $ 431 $ 101 $ 308 �_. 6 2 �� 383 �,. 67 103 �" 85 431 I01 $ 691 � 1 639 1 81 893 �� 38 S _0_ �. -., � r �:., � Q . �,. � �" � �. � _____ _ 38 � • CITY OF FRIALEY, MINNESOTA ' SPECIAL ASSESS�IENT CONSTRUCTION FUNDS STATEMENTS 0� CASH RECEIPTS AND DISBITRSEMENTS (CONTINUEI)) � � YEAR ENDED DECEP�IBER 31, 1965 . � Sewer Sewer and and � Water Water . Project Project No. 63 � No. 65 , i - , Cash balance January 1, 1965 1 675 277 3 Reeeipts � Bond proceeds -� _ Accrued interest on bonds sold Interest on certificates of deposit and � temporary bonds Refunds State and County share of improvement costs ` � Transfer from Municipal State Aid Fund Transfers fram special assessment debt service funds Transfer of costs to other construction funds Total receipts Total beginning cash and receipts 1 675 277 Disbursements � Capital outlay $ 1,535 $ 159 Interest �� Transfer of costs from other construction funds Transfers to corresponding debt service funds To pay interest applicable to construction periods Une�ended balance 140 118 � Transfer of costs from other City funds Municipal State Aid Fund , Special Improvements Revolving Fund � Total disbursements 1 675 277 Cash balance December 31, 1965 � -0- � _0_ '�u� �� , � � � � � � 39 � � tF.. � Sewer Sewer Sewer Sewer Sewer Sewer � and and and and and and � Water Water Water Water Water Water Project Project Project Project Project Project � No. 66 No. 67 No. 69 No. 70 No. 74 No. 75 E`" 731 82 037 6 692 2 241) 51) � � $35,000 $780,000 2,855 �+ 8,371 f- � 62 35 000 62 $791,226 � 731 �829037 6 692 32 759 Z1 _ $791,22b �.� $ 109 $59,798 $ 981 $28,643 $ 11 $138,430 �.' ' 8,149 �v� 7,675 2,400 919 �' 622 2,426 - �:; , � 731 $67,473 5 807 29 562 I1 I46 579 �..: S _0_ 1 6 88 $ �191 S -0- �644,647 �� '� � � r ki fo... � 6 2... _.� 40 CITY OF FRIDLEY� MINNESOTA "� SPECIAL ASSESSMENT CONSTRUCTION FUNDS STATENIENTS OF CASH RECEIPTS AND DISBURSENENTS (CONTINUED) YEAR ENDED DECEMBER 31, 1965 -� i 9 � StOYIII StOT'IIl � � Sewer Sewer Project , Project No. 5 No. 12 � � Cash balance January 1, 1965 14 232 1 324) � Receipts � Bond proceeds $75,000 ° _ _Accrued interest on bonds sold Interest on certificates of deposit and '. temporary bonds � Refunds State and County share of improvement costs $30,912 '� Transfer from Municipal State Aid Fund � � Transfers from special assessment debt service funds Transfer of costs to other construction funds Total receipts 75 000 30 912 Total beginning cash and receipts 89 232 $29,588 I� Disbursements Capital outlay $59,478 $ 3,243 � ` � Interest Transfer of costs from other construction funds Transfers to corresponding debt service funds ,,� To pay interest applicable to construction periods � 8,325 � Unexpended balance Transfer of costs from other City funds Municipal State Aid Fund � Special Improvements Revolving Fund Total disbursements 67 803 3 243 Cash balance December 31, 1965 21 429 26 3 �� i �..� �4 41 -� . � . � Storm Storm Storm Storm Storm Storm �_ Sewer Sewer Sewer Sewer Sewer Sewer Project Project Project Project Project Project No. 43 No. 49 No. 52 No. 53 No. 71 No. 73 �. 81 $ 1, 107 $ 606 412 865 19 159 �) �r $ZQ�� . . . . . . . . $11,975 : _ 11,975 $100,000 i__. S 1,107 b06 412 865 $31,134 _.99 9I9 �� Ti $ 327 $2I,880 $114,086 �..._.: r � �� $ 863 1,542 _ �:: 538 � • 6,458 'V � 8b3' 865 $29,880 $114,086 t _ � $ 244 S 606 412 S -0- 1 2 S(14. 16Z) � I �� . I � �f� . �_^. � � 42 � CITY OF FRIDLEY, MIAtNESOTA F"� SPECIAL ASSESSMENT CONSTRUCTION FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED) YEAR ENDED DECEMBER 31, 1965 � Storm 1960 �� Sewer Street � Project Improvement No. 77 " Project -� Cash baZance January 1, 1965 $ 1,16b ` Receipts �!� Bond proceeds Accrued interest on bonds sold Interest on certificates of deposit and temporary bonds �� Refunds State and County share of improvement costs �� Transfer from Municipal State Aid Fund Transfers from special assessment debt service funds $ 199 Transfer of costs to other construction funds Total receipts 199 Tota1 beginning cash and receipts 1 365 - y .� Disbursements Capital� outlay $ 74 $ 1,365 �� Interest Transfer of costs from other construction funds Transfers to corresponding debt service funds To pay interest applicable to construction periods Unexpended balance �� Transfer df costs from other City funds Municipal State Aid Fund �� Special Improvements Revolving Fund � Total disbursements 74 1 365 Cash balance December 31, 1965 ,� Z) S _0_ � � _ — ly1 � � ..� � 43 �._ �: �° 1961 1962 1963 1964 1965 1966 � Street Street Street Street Street Street Improvement Improvement Improvement Improvement Improvement Improvement Project Project Project Project Project Project �° $ 1,839 $ (5,099) $ 3 609 $ 8,711 $( 8,74$) , �._ $150,000 �� 2,000 $ 7,483 128,300 � 2,944 $ 5,225 7 483 5 225 $283,244 - $ 1,839 2 384 �8a 834 8 711 274 496 . _. i � ' �: $ 1,393 $ 754 $ 5,428 • $ 19290 $298,136 $ 2,988 �� 3,144� ��- 446 1,630 �- 9,863 �° 1 839= 2 384 �� 5,428 4 434 �307,999 2 988 S _0_ �^ _0_ 3 06 S 4,ti277 33 �) �,�2.L988) x` �_ � �._, �� s �:.. � �., ...3 ...___.__. P 44 . � CITY OF FRIDLEY, MINNESOTA '� SPECIAL ASSESSMENT DEBT SERVICE FUNDS BALANCE SHEETS - DECEMBER 31, 1965 _ a� � a - -improvement Improvement Bonds of Bonds of ;t Combined Regular 1960 1962 � �� ASSETS , ' � Cash $ 1,811,264 $ 650,500 $ 270,313 $ 6b,608 � Cash with fiscal agents 358,307 9,009 107,378 428 ` Investments, at cost - City of Fridley Bonds (Page 94) 545,000 545,000 '� Accounts receivable - Other City funds � ___. Storm Sewer Project No. 5 Special Assessment Construction '� Fund 5,569 , � Accrued interest receivable 35,547 16,284 6,011 380 Taxes receivable /� Delinquent 2,690 Deferred - 2,770,335 Special assessments receivable _ Aelinquent 579,889 94,268 98,022 34,654 Deferred Principal 3,763,904 805,180 850,358 113,239 Interest 1,554,692 223,208 453,405 44,920 �,✓� Amount to be provided by future revenue 552,547 10,541 Total assets S11.979�744 �2,343,449 �1,796,�028 260 229 y .�..� LIABIZITY AND RESERVES �� Liability Bonded indebtedness '� - Matured bonds and interest $ 15,307 $ 9,009 $ 428 Future maturitzes Bonds (Page 98) 8,149,000 1,569,000 $1,330,000 215,000 � Interest I,911,995 350,217 466,028 40,682 �� Reserves for Unrealized revenue 2,b90 Retirement of bonds 1,900,752 415,223 4,119 �"� i -� Total. liability and reserves 511,;979,74 $2�343,.449 �1,J96,02$ �.260,229 � � :� ..� .� � , " .-.� � �:: 45 �. . Sewer 1965 �c and Storm Storm Storm Street Improvement Refunding Improvement Water Sewer Sewer Sewer Improve- � Bonds of Bonds of Bonds of Project Project Project Projeet ment t 1963 1964 1965 No. 48 No. 70 No. 5 No. 73 Project � __________ $ 1339719 $ 295,597 $108,704;♦�,$ 283,690 $ 2,133 �.. 96,327 1,055 144,210 ��_, � � $ 5,569 39560 2,062 1,455 5,795 6 2,b90 � 718,300 2,011, 135 40,900 I08,324 115,277 55,939 �' 73,405 3859673 527,826 553,915; �-' 494,27� 33,436 � 92,453 227,300 26!�,198;. :�"`� 227,474 21,734 - �� 269,506 109�000 $163,500 ` �1� 38 6 c3;182e942 5984,211 �1�2b9,651 S 57�303 27 0 t1093000 5163e500 �« � ��' � � $ 1,055 $ 4,815 �:..: $ 945,000 I 1,880,000 $715,000 �:-%' 950,000 $ 35y000 $260900Q $100,000 $150�000 244,102 3999795 217,408 �b ' 153,825 2,363 15,075 9800Q 13,500 �, - 2,690 ('� , 349,254 899 402 51,803 161�011 19994Q ____0�e__,� k �� 1,538,356 53�182,94-2 8 211 S1,269�6.51 S 57,303 �275.�075 �109a000 �163.,5�0 � �. �:> � ' � � � �.. ._,, 45 --_ � ,� CITY OF FRIDLEY, MINNESOTA �`� SPECIAI, ASSESSMENT DEBT SERVICE FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1965 .._� Combined Regular ��? � Cash balance January 1, 1965 �1,033,903 $ 223,324, . � Receipts t Proceeds from sale of bonds $ 715,000 ' Accrued interest on bonds sold 2,546 Special assessments 905,357 $195,679 �'� General property taxes 50,931 Interest 106,770 57,099 Investments matured (cost) 752,000 752,000 j� Transfers from Special Improvements Revolving Fund - Se"rvi.ce connection assessmenti collections � 36,343 -� i Transfers from corresponding construction funds Interest applicable to construction periods 25,582 C1ose construction funds (unexpended balances) b,303 Transfers from Improvement Bonds of 1965 Fund - Payment of principal and interest on temporary bonds 669,776 Transfers from Sewer and Water Utilities Operating Fund 39,293 Total receipts �3,309,907 $1,004,778 10 1 228 102 `�� Total beginninb cash and. receirts 4,343,i , , Disbursements � Bonds $1,138,000 $ 151,000 Interest 263,464 66,048 � Miscellaneous (including fiscal agents service charges) 1,151 482 ��;, Purchase of investments 360,000 360,000 Bond sale e�enses 20 8� _Refunds of special assessments 706 72 Costs for defense of assessments 300 Transfer to Municipal State Aid Fund - Assessable portion of projects 45,718 � Transfers to corresponding construction funds -,..� to finance construction 53,411 Transfers to oCher debt service funds - Close out � temporary bond issues 669,776 Total disbursements 5�2,532,546 �S 577,602 Cash balance December 31, 19� ,�la 811,264 S 650,500 y� �� _ �� 47 � Sewer Imprcvement Improvement Improvement Refunding Improvement and Water Bonds Bonds Bonds Bonds Bonds Project i of 1960 of 1962 of 19n3 of I964 of 1965 � No. 48 �.. � $245,i776 $ ( 5,800) $120,908 $109,035 $301,896 � � : $715,000 2,546 � $140,590 $ 71,928 $130,309 $123,006 111,773 $122,145 �-- 50,931 � 13,600 2,000 6,812 7,000 1,084 18,649 i � � �.. � 36,349 863 2,898 446 1,630 4,227 5,490 800 23,224 9,779 (' 159 680 $ 7b,037 161 975 $217➢286 847 307 140 794 �� $40S,456 70 237 282 883 326 321 847 307 442 690 .�_:__._ �_ �_ �_ �_ �, $ 80,000 $ 80,000 $120,OG0 � 54,755 $ 3,603 32,655 $ 30,300 $ 5,875 38,590 �... 238 26 26 75 14 247 � 20 �� 471 163 150 "= 150 � . 45,718 36,012 199 17,200 � 669,776 �w $135, 143 �3J629 �149, 164 30 724 738 603 159 000 � 270 31 66 608 133 1 �22�,�97 5108,704 5283,690 �,� � E.,. � � ��. Y � ._''" "__ y �F$ 3 CITY OF FRIDLEY, MINN�,SOTA � SPECIAL ASSESSMENT DEBT SERVICE FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED) YEAR ENDED DECEMBER 31, 1965 Sanitary Sewer, � Sewer Storm Sewer and Water and Water Project Project No. 55 No. 58 � Cash balance January 1, 1965 $ 15,733 $ ( 127) � Receipts � Proceeds from sale of bonds Accrued interest on bonds sold .� Special assessments $ 885 $ 24 General property taxes Interest 115 Investments matured (cost) � Transfers from Special Improvements =-� Revolving Fund - Service connection assessment collections "� Transfers from corresponding construction funds � Interest applicable to construction periods 602 Close construction funds (unexpended balances) Transfers from Improvement Bonds of 1965 Fund - Payment of principal and interest on temporary bonds 55,475 40,SQ1 Transfers rrom Sewer and Water Utilities Operating Fund Total receipts � 56,475 � 41,127 � �. Total beginning cash and receipts S� 72,208 � 41z000 �� Disbursements Bonds $ 70,000 $ 40,000 �� Interest 2,208 1,000 Miscellaneous (including fiscal agents service charges) Purchase of investments � Bond sale expenses Refunds of special assessments � Costs for defense of assessments . Transfer to Municipal State Aid Fund - Assessable y� portion of projects Transfers to corresponding construction funds to finance construction � Transfers to other debt service funds - Close out temporary bond issues Total disbursements � 72,208 � 41,000 Cash balance December 31, 1965 ,� -0- $ -0- � � - � . � � . 49 �. � Sew�r Sewer Sewer Sewer Sewer Sewer 4 ` and Water and Water ancl Water and Water and Water and Water Project Project Project Project Project Project �E No. 59 No. 61 No. 63 No. 65 No. 66 No. 67 1��. $ 4,777 2 220 1 375) 150) 3 348 �.� � $ 596 �._. �� . $ 5,850 $ 20,827 39,568 $ 27,209 $ 9,412 $ 9,091 195,000 S 10,827_ 40 lb4 27 209 $ 9z412 9 091 $200,850 �- 15 604 42 384 25 834 9 262 12 439 200 850 �� $ 15,000 $ 41,000 $ 25,000 $ 9,000 $ 12,000 $195,000 604 1,384 834 2b2 439 5,850 � � �W . � �, �_ 15 604 42 384 25 834 9 262 12 439 200 850 � �y S�0- .� -0- $ -0- S -0- S -Oi � -0- � �. __ _- �.._ . m� _____ I �0 r ` CITY OF FRIDLEY, MINIVESOTA '� SPECIAL ASSESSMFNT DFBT SERVICE FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED) YEAR ENDED DECEMBER 31, 1965 Sewer Sewer � and Water and Water -Praject Project No. 69 No. 70 �� Cash balance January 1, 1965 Receipts � Proceeds from sale of bonds p Accrued interest on bonds sold Special assessments $ 2,��Z � General property taxes Interest Investments matured (cost) �� Transfers from Special Improvements � Revolving Fund - Service connection assessment collections � Transfers from corresponding construction funds Interest applicable to construction periods $ 2,400 919 Close construction funds (unexpended balances) Transfers from Improvement Bonds of 19b5 Fund - Paymer_t of principal and interest on temporary bonds 80,000 Transfers from Sewer and Water Utilities Operating Fund Total receipts $ 82,400 � 2,920 � Total beginning cash and receipts $ 82,400 $ 2,920 bisbursements � Bonds $ 80,000 Interest 2,400 $ 787 � Miscellaneous (including fiscal agents service charges) � Purchase of investments Bond sale expenses x� _Refunds of special assess�ents Costs for defense of assessments Transfer to Municipal St�te Aid Fund - Assessable � portion of projects Transfers to corresponding construction funds -� to finance construction Transfers to other debt service funds - Close out � temporary bond issues Total disbursements � 82,400 � 787 Cash balance December 31, 1965 � -0- S 2�133 � � �� ::� �. � i., 51 �.. � 1963 1964 � Storm Storm Storm Storm Street Street � Sewer Sewer Sewer Sewer Improve- Improve- , Project Project Project Project ment ment � No. 5 No. 53 No. 64 No. 71 Proiect Pro�ect F �, , 11 350 975) 3 963 �f�. � $ 5,371 $ 29 $ 1,021 411 �_. �. , $ 8,325 $ 1,125 $ 2,600 . 29,722 9, 179 50,000 48,792 65,000 ��` 8 325 35 504 9 208 51 125 �+9 813 67 600 �:o 8 325 46 854 8 233 51 125 53 776 67 600 �. $ 45,000 $ 8,000 $ 50,000 $ 52,000 $ 65,000 � $ 8,325 1,854 233 �,125 1,733 2,600 �, 43 �_ , �� ._ 8 325 46 854 8 233 51 125 53 776 67 600 � � -0- S -0- S -0- � -0- $ -0- S -0- �.,. -- �. �: � ' �.: 5 3 CITY OF FRIDLEY, MINNESOTA SPECIAL ASSESSMENT DEBT SERVICE FUNDS DEBT SERVICE RE�UIREMENTS �. DECEMBER 31, 1965 � E. . �. F � �.. Bond Year principal Interest Total �' 1966 $ 1,044,000 $ 297,554 $ 1,341,554 � 1967 859,000 260,637 1,119,637 � 1968 664,000 221,043 885,043 1969 639,000 197,684 836,684 1970 639,000 174,643 813,643 � 1971 629,000 151,550 780,550 �' 1972 614,000 128,552 742,552 �_ 1973 569,000 106,390 675,390 1974 437,000 87,542 524,542 1975 400;000 71,972 471,972 � 1976 305,000 57,912 362,912 1977 255,000 45,985 300,985 1978 250,000 36,655 286,655 1979 250,000 27,400 277,400 1980 19Q,OOQ 19,140 209,140 1981 135,000 12,855 _. 147,855 f- 1982 140,000 7,428 147,428 �j 1983 60,000 3,552 63,552 1984 25,000 2,013 27,013 �.. 1985 25,000 1,138 26,138 1986 20,000 350 20,350 �� 8,149,000 � 1,��11,.995 S 10,060,995 �_. �; �� . � �F �. �, � � �� . , � I, � i;.. � ____ _ _ : 54 y . CITY .OF FRIDLEY, MINNESOTA GENERAL DEBT SERVICE FtT1VDS COMMENTS These funds are used to account for the accumulation of resources for payment � of general obligation bonds and interest thereon. The City has four funds of th is nature. Building Bonds of 1951 - This fund was closed out during the year with its fund � _ .� balance of $2,275 transferred to the Civic Center Bonds of 1965 Debt Service Fund. • � Park Bonds of 1962 and Z963 - This fund is used to accu�nulate the monies re- =� ceived from a general property tax levy for the retirement of the bonds and payment of interest. � � � .�.� __ . Civic Center Bonds of 1965 - This fund was established during 1964 to account for the retirement of the temporary bonds issued during 1964 and the Civic Center � Bonds issued Nlay 1, 1965. General property taxes will be levied for retirement �1 of the bonds and payment of interest thereon. Waterworks Bonds of 1965 - This fund was established to account for the debt � retirement of the $780,000 issue of Waterworks Bonds of 1965. The deferred tax � levy collectible in 1966 was canceled because of a $27,700 transfer of funds made during the year from the Sewer and Water IJtilities Operating Fund. ' � �� .� � � ,� � ""� . � rt� �. 55 CITY OF FRIDLEY, MINNESOTA GENERAL DEBT SERVICE FUNDS BALANCE SHEETS - DECE�'�IBER 31, 1965 !s . � Build- Civic ing Park Bonds Center Waterworks � Bonds of 1962 Bonds Bonds of Combined of 1951 and 1963 of 1965 1965 � ASSETS �,2 Treasurer cash $ 45,949 $ 21, 127 $( 2,878) $ 27,�D0 � Cash with fiscal agent 12,891 12,760 131 �_ Taxes receivable Delinquent 2,293 2,280 13 Deferred 2,234'S98 310,038 749,060 1,175,500 Total assets �2,295,731 3 6 20 ,574�, 195 $1,203,��31 �.� - LIABILITIES AND RESERVES � Liabilities - Bonded indebtedness . Matured interest $ 451 $ 320 $ 1.31 Future maturities Bonds (Page 99) 1,560,000 280,000 $500,000 780,000 Interest 653,906 44,960 221,458 387,488 Reserves for — �" Unrealized revenue 2,293 2,280 13 �w: Retirement of bonds and interest 79,0$1 1$,645 24,724 35,712 �,; Total liabilities and reserves $2,295,731 .�346,205 S746L195 S1 203,331 �s . �a . �. � �� . �:. � � �r.� � � �.., . _ 56 -__ _ � � CITY OF FRIDLEY, MINNESOTA GENEIlAL DEBT SERVICE FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR END�D DECEMBER 31, 1965 � -�� Build- Civic � ing Park Bonds Center Waterworks Bonds of 1962 Bonds Bonds of �� Combined of 1951 and 1963 of I965 1965 � Treasurer cash balance � January 1, 1965 ,� 16,688 $2,168 14 520 � Receipts Current property taxes $ 35,502 $ 35,502 � Delinquent property taxes 692 $ 107 524 $ 61 Transfers from other City funds City Hall Construction Fund � for payment of temporary bonds 45,000 45,000 Building Bonds of 1951 � Fund (to close fund) 2,275 2,275 ;� Sewer and Water Utilities Operating Fund 27,700 $ 27,700 Total receipts $ 111, 169 107 $ 36,026 47 336 $ 27,700 Total beginnir_g cash and receipts � I27,857 2 275 50 546 47 336 $ 27,700 � Disbursements . Bonds $ 65,000 $ 20,000 $ 45,000 -� Interest 14,584 9,380 5,204 Fiscal agent service charge 49 39 10 Transfer to Civic Center Bonds of 1965 Fund (to �� close fund) 2,275 $2,275 Total disbursements � 81,908 2 275 29 419 50 214 Treasurer cash balance ,�� December 31, 1965 S 45,949 $ -0- S 21,127 2 8 8) � 27:L �:� � � .� �� j.� ..� r- �1. 57 CITY OF FRIT�LEY, MINNESOTA GENERAL DEBT SERVICE FUNDS DEBT SER�TICE REQUIREMENTS - DECEMBER 31, 1965 � �a Bond Year principal Interest Total �- 1966 $ 25,000 $ 66,326 $ 91,326 1967 25,000 51,195 76,145 � 1968 55,000 49,945 104,945 1969 60,000 48,135 108,135 �- 1970 60,000 46,215 106,215 , 1971 90,000 43,757 133,757 � - 1972 95,000 40,705 135,705 „ 1973 80,000 37,805 117,805 1974 85,000 35,078 120,078 1975 45,000 32,960 77,960 � 1976 60,000 31,250 91,250 1977 75,000 29,023 104,Q23 1978 75,000 26,547 101,547 1979 80,000 23,950 103,950 1980 80,000 21,230 10I,230 19$1 80,000 18,510 - 98,510 �� 1982 80,000 15,750 95,750 1983 85,000 12,863 97,863 1984 85,000 9,887 94,887 1985 85,000 b,913 91,913 �r 1986 85,000 3,937 88,937 1987 50,000 1,575 51,575 1988 20,000 350 20,350 �T � $1,560,000 $ 653.,�906 S 2,213}9Q6 � �.. , � � � �� . �: � �:, �- � �� ,,. 58 � CITY dF FRIbLEY, MINNESOTA ��* TRUST AND AGENCY FUNDS . COMMENTS Trust and agency funds are established to account for cash or other assets held "� by the municipality as a trustee or agent. The City funds of this nature include the Firemen`s Relief Association Fund and the Public Employees' Retirement Association Fund. These funds account for collection. of general property taxes ��- levied for the benefit of these associations and subsequent remittance of such � collections to them. ` . � i,l � � � � � � .:} � �� .� � � :w� �, 59 CITY OF FRIDLEY, MINNESJTA TRUST AND AGENCY FUNDS BALANCE SHEETS - DECEMBER 31, 1965 -� �._: Public � Firemen' s Employees' E � Relief Retirement Association Association �' Combined Fund Fund � ASSETS t,.. � Cash $ 7,761 $ 7,761 Accounts receivable - Other City funds Municipal Liquor Operating Fund 8, 143 8,143 Sewer and Water Utilities � Operating Fund 5,349 5,349 i_. Delinquent taxes receivable 2,370 $ 1,031 1,339 To be provided by future revenues 30,027 30,027 � Total assets .��3,6�0 S 1a031 $ 52,619 LIABILITY AND RESERVE �. Account payable Public Employees' Retirement Association $ 51,280 $ 51,280 Reserve for unrealized revenue 2,370 1 031 1,339 Total liability and reserve 6 0 1 031_. S 52�,619 � �� S`TATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS � i YEAR EN?�ED DECEMBER 31 L 1965 t �.� � Cash balance ,Ianuary 1, 1965 7 356 7 356 �, Receipts Current taxes ' $ 30,616 $ 13,595 $ 17,Q21 � Delinquent taxes 731 296 435 �. State 2% insurance premium tax 4,592 4,592 Transfers from other City funds � Municipal Liquor Operating Fund b,999 6,999 �� Sewer and Water Utilities Operating Fund 4,352 4�352 - `�•. Total receipts $ 47,290 18 483 28 807 �' Total beginning cash and receipts $ 54,646 �fi 18,483 36 163 �:.� Disbursements f. Firemen' s Relief Association $ 18,483 $ 18,483 � Public Employees' Retirement Association 28,402 28 402 ` Total disbursements 46 885 18 483 28 402 i� Cash balance December 31, 1965 S 7.761 $ -0_ 6� �;� €, � _.b0 ---- __ �� CITY OF PRIDLEY, MINNESOTA MUNICIPAL LI UOR FUNDS COMMENTS These funcls were estabZished to account for the operations and financing of the City � owned liquor stores. Prior year amounts are shown on the Operating Fund balance sheet � ---.-and statement of income and retained earnings for purposes of comparison. Percent- ages and detailed statements by stores are included as additional aids in reviewing the - results of operations. � Shown below is a condensed summary of liquor store operations for 1963, 196/� and 1965: � I965 1964 1963 Percent Percent Percent � of sales of sales of sales Sales � -- Off sale $ 776,989 74.08 $689,981 71..93 $648,341 72,12 On sale 271,906 25.92 269�203 28.07 . 250,646 27.88 � Total sales $1,048,895 100.00 $959,184 100.00 $898,987 100.00 � Cost of sales 689,715 65.76 623,378 64.99 585,969 b5.18 � Gross profit $ 359,180 34.24 $335,806 35.01 $313,018 34.82 Operating expenses 227,465 21.68 209,630 21,86 1979995 22.02 Operating profit $ 131,715 I2.56 $126,176 13.15 $115,023 12.80 Other income and '� expenses (net) 4,316 - .41 2,426 .26 3,I34 .34 Net income S I36,031 I2.97 128 602 13.41 118 1� 13.14 _� Percent of Percent of Percent of � net income net incoFne net income Transfers to other `� City funds S 91.232 67•07 ,$ 87,239 67.84 S 66.976 56°68 ' Debt service funds are being maintained in accordance with bond sales agreements. Of ~� an original bond issue of $230,000 sold in 1956 and 1957 to be paid for from revemses y� of liquor stores, $108,000 was payable after December 31, 1965. These bonds were issued to pay for (1) a liquor store building, (2) an addition to the City Hall build- � ing and (3) an equipment garage. A schedule of debt service requireme�?ts by years is � included in this report. � �'�S � :� �. 61 . CITY OF FRIDLEY, MINNESCTA MUNICIPAL LZQUOR FUNDS BALANCE SHEETS - DECEMBER 31, 19,65 � �_. �. � �, Debt Operating service Combined Pa 62 (Pa�e 7�) �u ASSETS � Cash $159,693 $130,463 $ 29,230 � Gash with fiseal agents 5,342 5,342 ��_ Accrued in�erest receivable 1,361 1, 128 233 Inventories, at cost 176,379 176,379 Prepaid expenses 1,246 1,24b �Y Amount to be provided by future �evenue 94,910 94,910 Fixed assets, at cost or appraised value, - � less accumulated depreciation 258,312 258,312 'I°otal assets 69 2 ,�567,528 12 1 , LIABILITIES, RESERVES AND SURPLUS �•- Liabilities �3 Accounts payable Other City funds $ 8,165 $ 8,165 ' Other 8,114 8,114 � Bonded indebtedness ��- Matured bonds and interest 5,342 $ 5,342 � Futu.re maturities �` Bonds (Page 100) 108,0�0 108,000 � �ntierest 16,373 16,373 Reserve for retirement of revenue bonds 65,920 65,920 � Gurrent surplus 292,937 292,937 �� Investment in fixed assets 192,392 192,392 Total liabilities, reserves � and surplus $697,243 6 28 $129�715 � f^ � �y �: �:.: 62 ___ _ � CIZ'Y OF FRIDLEY, MINNESOTA °' MUNICIPAL LIQUOR OPERATING FL'ND B�I�FICE SHEET - DECEMBER 31, 1965 AND 1964 1965 1964 � ASSETS CURRENT ASSETS � Cash $130,463 $116,241 Account receivable • 100 � Accrued interest receivable 1,128 725 Inventories, at cost 176,379 146,266 `' Prepaid expenses 1,246 633 Total current assets 309 216 263 965 � FIXED ASSETS, at cost or appraised values � I,and and improvements $ 33,297 $ 21,427 � Buildings 198,278 209,194 Signs 9,035 8,414 Furniture and equipment I07,149 87,421 ,, Automobile 2,070 2,07Q � Total.-cost $349,829 $328,526 Less - accumulated depreciation 91,517 73,838 Total fixed assets (net) 258 312 $254,688 T02AL ASSETS �567,�28 �518,�653 � LIABILITIES AND RETAINED EARNINGS CURRENT LIABILITIES Accounts payable •�' General Fund $ 22 Public Employees' Retirement Association Fund $,143 $ 6,998 � Other 8,114 6,590 i Total current liabilities I6 279 $ 13,588 RESERVE F'OR RETIREMENT OF REVENUE BONDS 65 920 75 329 �,� RETAINED EARNINGS AND CURRENT SURPLUS Retained earnings $485,329 $429,736 `� Less investmPnt in fixed assets (net fixed assets less reserve for retirement of revenue bonds) 192,392 179,359 Total current surplus 292 937 250 377 � INVESTMENT IN FIXED ASSETS 192 392 179 359 TQTAL LIABILITIES, RESERVE AND RETAINED EARNINGS 6 28 �5I8,653 � .'.� � aI� �- 63 CITY OF FRIDLEY, MZNNESOTA MUNICIPAL LIQUOR OPERATING FUND STATEMENT OF INCONL AND RETATNED EAFtNINGS � YEARS EIVDED DECEMBER 31, 1965 AND 1964 �. �... 1965 1964 � Percent Percent ��_ of sales of sales Sales � Off sale $ 776,989 74.08 $689,981 71.93 �. On sale 271,906 25.92 269,203 28.07 Total sales $1,048,895 100.00 $959, 184 100.00 � Cost of sales 689,715 65.76 623,378 64.99 Gross profit $ 359,180 34.24 $335,806 35.01 �` Operating expenses 227 465 21.68 209 630 21.86 � , Operating profit $ 131,715 12.56 $126, 176 13.15 Other income (including v.ending machine sales) 7,938 .75 7,823 _ .82 Other expenses ( 3,622) ( .34) 5 397) S .56) Net income $ 136,031 12•97 $128,602 13. 1 �' Retained earnings beginning of year 429,736 373,052 �� Prior years adjustments .. Adj.ustment of fixed assets and accumulated depreciation as determined by a complete physical �y inver.tory of fixed assets 1,385 Apprcpriation transfers to other � City funds �� General �und ( 80,000) (70,000) Municipal Liquor Debt Service Fund ( 11,232) (17,239) � Equity increase in fixed assets acquired by issuance of revenue bonds , 9,409 15,321 � Retained Earnings end of year ,�[�85,329 $429,736 �_ � � � �� t �.. 64 � " CITY OF FRIDLEY, MIPTNESOTA � MUNICIPAL LIQUOR OPERATING FUND STAThT4ENTS OF INCOME FOR INDIVIDt1AL STORES YEAR ENDED DECEMBER 31, 1965 a � Total all O�f sale � stores Total l� �� Sales � $1,048,895 $776,989 � $ 26,387 � Cost of sales 689,715 600,496 21,548 i� Gross profit $ 359,180 $176,493 $ 4,839 � Percent of sales 34.24% 22.71% 18.34% Operating expenses $ 227,465 $ 92,679 $ 9,400 � Percent of sales 21.68% 11.92% 35.63% ,�� Operating profit $ 131,715 $ 83,814 $( 4,561) Percent of sales 12.56% 10.79% 17.29%,� � Other income Cash discounts $ 2,587 $ 2,234 $ 87 Check cashing fees 934 Vending machine corranissions 2,746 82 Interest 1,671 1,057 Total other income $ 7,938 3 373 87 ;� Dther expenses - Interest $ 3,622 1 207 `� Net income $ 136,031 $ 85,980 $( 4,474) Percent of sales 12.97% 11.07% �6 .96%) .:� * Operations at Store No. 1 were started August 16, 1965 � - .� � .� .:� � � 65 �_ ' � stores On sale stores �_ 2 3 4 Total 22 33 � $261,894 $161,251 $327,457 $271,906 $120,449 $151,457 k �� 200,007 127, 115 251,826 89,219 41,868 47,351 � $ 61,887 $ 34,136 $ 75,631 $182,687 $ 78,581 $104,106 �- 23.63% 21.17% 23.10% 67. 19% 65.24% b8.74% �'� $ 26,314 $ 21,756 $ 35,209 $134,786 $ 55,303 $ 79,483 � 10.05% 13.49% 10.76% 49.57% 45.91% 52.48% � $ 35,573 $ 12;380 $ 40,422 $ 47,901 $ 23,278 $ 24,623 �• � 13.58% 7.68% 12.34% 17.62% 19.33% 16.26% $ 830 $ 437 $ 880 $ 353 $ 154 $ 199 934 685 249 82 2,664 1,168 1,496 �` 476 148 433 614 322 292 �� 1 306 � _ 585 1 395 4 565 2 329 2 236 �.. 1 207 2 415 ' 2 415 � � �°' $ 36,879 $ 11,758 $ 41,817 $ 50,051 $ 25,607 $ 24,444 14.08% 7 <29% 12.77% 18.41% 21.26% 16.14% � �., � t .�.. �� _:. �. s 6 �. x. � k..: � �r... � b6 --- - � CITY OF FRIDLEY, MINNESOTA . MUNICIPAL LIQUOR OPERATING FUND STATEMENT OF GROSS PRQrIT YEAR ENDED DECEMBER 31, 1965 I9 � � � Mix and Total Li uor Beer miscellaneous Off sale --� Sales $776,989 $507,919 $247,705 $ 21,365 Cost of sales 600,496 382,325 203�190 1�+,981 � Gross profit 6 93 ,�125,594 S 44,,515 � 6,384 Percent of sales 22.71 24.73 17•97 29.88 _� On sale Sales $271,906 $174,980 � 91,610 $ 5,316 w Cost of sales 89,219 42,602 41,466 5,151 � Gross profit 182 687 ,S132a378 0 144 ,� 165 Percent of sales .19 75.65 54.74 3.10 Combined off and on sale Sales $1,048,895 $b82,899 $339,315 $ 26,681 Cost of sales , 689,715 424,927 2443656 20,132 .�� Gross profit ,� 3�9.180 5257,972 S 94,.b59 $ 6,549 Percent of sales 34.24 37•78 27 .90 24.55 � �� . � � � � . .:v� �� . � . 67 CITY OF FRIDLEY, MiNNESOTA MUNICIPAL LIQTJOR OPERATING FUND STAT�NT OF OPERATING EXPENSE� YEAR ENDED DECEMBER 31, 1965 AND 1964 . � 1965 1964 � Percent Percent � of sales of sales Salaries and wages � Managers $ 18,149 1.73 $ 18,084 1.89 . Clerical 8,695 .83 8,380 .87 C. Bartenders, waitresses, and off sale clerks 109,324 10.42 102,749 10.71 �- Janitor 9,753 .93 8,874 .93 Contributions to Public Employees' Retirement Association 8,I43 .78 6,999 .73 �,. Hospitalization insurance 2,035 .19 1,438 .15 Glassware, ice and bar supplies 6,259 .60 7,246 .76 Laundry 1,886 .18 1,816 .19 �' Cleaning and waste removal 1,038 . IO 833 .09 Rent 6,853 .65 3,958 .41 Utilities 9,994 .95 9,471 .99 Maintenance and repairs 6,125 .58 6,175 .64 Insurance 12,700 1.21 9,618 1.00 Depreciation 15,447 1.47 13,328- 1.39 � Telephone 1,213 .12 1,167 .12 t, Mileage 787 .08 776 .08 Independent accounting and auditing 1,150 .11 1,150 .12 � Licenses 108 .O1 107 .O1 �`" Alarm service 3,198 .30 3,104 .32 Cash register expenses 2b0 .02 805 .0$ � Office supplies 381 .04 246 .03 �.� Cleaning supplies 3,031 .29 2,263 .24 Cash short 2�6 .03 36 � Miscellaneous 174 .02 196 .02 � Uncollectible checks 476 .04 542 .06 Breakage " 269 .03 � Total 5227,�4b5 21.68 209 630 21.86 t.., - k" k �-� � . f � E,, �;, 3 t.: . ___ � 68 . CITY OF FRIDLEY. MINNESOTA MUNICIPAL LI�UOR OPERATING FUND STATEMENTS OF OPERATING EXPENSES FOR INDIVIDUAL OFF SALE STORES YEAR ENDED DECEMBER 31, 1965 ' _� Total � Percent -of sales � Salaries and wages � Managers $ 6,206 .80 Clerical 4,680 .60 Off sale cl,erks 41,208 5.30 � Janitor 3,190 .41 Contributions to Public Employees' Retirement Association 3,064 .39 �� Hospitalization insurance 882 ,11 Glassware, ice and bar supplies 1,673 .22 Laundry � 366 .05 � Cleaning and waste removal 372 .05 Rent - 6,853 .88 Utilities 4,747 .61 Maintenance and repairs 1,675 .21 Insurance 7,865 1.01 Depreciation 5,151 .6b Telephone 628 .08 � Mileage and automobile expenses 202 .03 Independent accounting and auditing 690 .09 Licenses 61 .O1 � Alarm service 1,855 .24 Cash register expenses 156 .02 Office supplies 2l�7 ,03 � . Cleaning supplies 975 .13 y� Cash (over) ( 194) ( .02) Miscellaneous 112 .O1 Uncollectible checks 15 � Total 92 6 9 11.92 � �� . � � z: .: 69 �. r� � ' � l � Stores 1 2 3 4 �� Percent Percent - Percent Percent of sales of sales of sales of sales � � L.. $ 776 2.94 $ 1,810 .69 $ 1,810 1.12 $1,810 .55 f` 365 1.38 1,445 .55 1,485 .92 1,385 .42 � 4,007 15.19 14,434 5.51 9,376 5.81 13,391 4.09 ` 16 .06 881 .33 I,198 .74 1,095 .33 275 1.04 1,026 .39 777 .48 986 .3Q �.. 62 .24 312 .12 199 .12 309 � .09 . � 98 .37 583 .22 - 400 .25 592 . .18 �' ' 43 .16 95 .04 79 .05 149 .05 84 .32 288 .09 1,157 4.39 5,69b 1.74 182 .69 870 .33 1,356 .84 2,339 .71 17 .07 757 .29 442 .28 459 .14 378 1.43 2,342 .89 2,306 1.43 2,839 .87 �� 712 2.70 916 .35 1,345 .84 2;178 .67 127 .48 120 .05 12I .08 260 .08 .E 43 .16 53 .02 53 .03 53 .02 230 .Q9 230 .14 230 .07 � Z 20 .O1 20 .O1 20 .O1 716 2.71 306 .12 365 .23 468 .14 52 .02 52 .03 52 .02 ; 22 .08 69 .03 87 ,05 69 .02 � 292 1.11 86 .03 89 .05 508 .lb �°� (. 1} ( 121) ( .04) ( b2) ( .03) ( 10) 28 .11 28 .01 28 .02 28 .O1 € 15 l.. 00 �35.63 26 . 1 10.05 21 6 13. 9 3 20 10. � ! �:,. � �_ ' � � � � � �. i t E 70 ____ _ � CITY OF FRIDLEY, P�IINNE50TA MUNICIFAL LIQUOR OPERATING FU1`1D STATEMENTS OF OPERATING EXPENSES F0� INDIVIDUAL ON SALE STORES YEAR ENDED DECEMBER 31, 1965 � � Stores l� Total 22 33 ..� Percent Percent Percent � of sales of sales " of sales � Salaries and wages ' Managers $ 11,943 4.39 $ 5,965 4.95 $ 5,978 3.95 Clerical 4,015 1.48 1,933 1.61 2,082 1.37 '� Bartenders and waitresses 68, 116 25.05 28,420 23.60 39,696 26.21 Janitor 6,563 2.41 2,701 2.24 3,862 2.55 ' Contributions to Public � Employees' Retirement Association 5,079 1.87 2,186 1.$1 2,893 1.91 � Hospitalization insurance 1, 153 .42 466 .39 687 .45 ; � Glassware, ice and bar - ' supplies 4,586 1.69 1,378 1.14 3,208 2.12 Laundry 1,520 .56 665 .55 855 .56 Cleaning and waste removal 666 .24 336 .28 330 .22 Utilities 5,247 1.93 1,961 1.63 3,286 2.17 Maintenance and repairs 4,450 1.63 1.,615 1.34 2,835 1.87 r ' Insurance 4,835 1.78 2,326 1.93 2,509 1.66 Depreciation 10,296 - 3.79 3,239 2.69 7,057 4.66 `" Telephone 585 .22 124 .10 461 .31 Mileage and automobile � expense 585 .22 292 .24 293 .19 Independent accounting and auditing 460 .17 230 .19 230 .I5 � Licenses 47 .02 24 .02 23 .02 Alarm service 1,343 .�+9 612 .51 731 .48 Cash register expenses 104 .04 52 .04 52 .04 �� Office supplies 134 .05 59 .05 75 .05 Cleaning supplies 2,056 .75 400 .34 1,650 1.09 Cash short 480 .18 51 .04 429 .28 Miscellaneous 62 .02 27 .02 35 .02 I� Uncollectible checks 461 .17 235 .20 226 .15 � Tota1 5134,186 49•57 30 45.91 9 483 52•48 i � � . � � � JI CITY 0� FRIDLEY, MINNESOTA I�FUNI�IPAL LIQUQR DEBT SERVICE F'UNDS BALANCE SHEETS - DECEMBER 31, 1965 �, , � Principal Combined and interest Reserve ASSETS � Treasurer cash $ 29,230 $ 1,022 $28,208 � Cash with fiscal agent 5,342 5,342 Accrued interest receivable 233 233 �� Amount to be provided for debt retirement 94,910 94,9Z0 l: Total assets �129,715 �101,27� 28 1 � �__ ' _ LIABILITIES �'� �` ; Bonded indebtedness Matured bonds and interest $ 5,342 $ 5,342 � Future maturities � � Bonds (Page 100) 108,000 95,932 $12,068 Interest 16,373 16,373 Total liabilities . 129 1 ,�101,274 28 1 � STATEMENTS OF TREASURER CASH RFCEIPTS AND DISBURSEMENTS �� YEAR ENDED DECEMBER 31, I965 �� _: Treasurer cash ba�ance January 1, 1965 36 242 8 554 27 688 I- Receipts � �, Transfers from Municipal Liquor Operating Fund $ 14,854 $ 14,854 Ir_terest income 520 520 � � Total receipts I5 374 14,854 520 �. Total beginning cash and receipts 51 616 23 408 2$ 20$ . �. �,._ Disbursements - Bond principal $ 17,000 $ 17,000 Bond interest 5,348 5,348 � Fiscal agent service charge 38 38 Tota2 disbursements $ 22,386 22 386 � � Treasurer cash .balance December 31, Z965 .�_.29,230 .� 1,�022 28 20 "t (. �,.. � f k, �, � � 73 CITY OF FRIDLEY, MINNESOTA . MUNICIPAL LIgUOR DEBT SEKVICE FUNDS DEBT SERVICE REQUIREMENTS - DECEMBER 31, 1965 �. � �. . , Bond �-- Year principal Interest Tota1 �" 1966 $ 18,000 $ 4,651 $ 22,651 � 1967 18,000 3,908 21,908 1968 I8,000 3,126 21,126 �a 1969 18,000 2,344 20,344 F 1970 18,000 1,563 19,563 �-` 1971 I8,000 781 Z8,781 � , 108 000 16 S 124�3]�� ... � � � r � �- � �.�_ . �' � ��.. �. � ( , � � p �. � � � im. 7� _ _ ____ CITY OF FRIDLEY, MINNESOTA SEWER AN� WATER t3'TILITIES FU2�S • COririENTS �� These funds account for the operations and financing of the City owned sewer and � ____water systems. In 1956 revenue bonds in the amount of $170,000 were issued to finance construction of a reservoir and a well. As of December 31, 1965 $135,000 of these bonds were payable in future years. Debt service funds for this bond � -issue are being maintained in accordance with the bond sales agreement. Unassessable construction costs totaling approximately $1,165,000 as of December 31, '' 1965 had been financed from proceeds of general obligation and special assessment � bonds. Transfers are being made to the respective debt service funds to pay the bonds and related interest. -� � .;� `� � �� .� � � � ] 6.� I ..� a:� � � ,� � • � :� a� � • � �. 75 CITY OF �'RIDLEY, MINNESOTA SE4TER AND WATER UTILITIES Fi3NDS BALANCE SHEETS - DECEMBER 31, 1965 � > _ 4" ! �:.. � ' � Debt � � Operating service , , Combined , (Page 76) (Pa�e 86) � ASSETS �w Cash $ 173,921 $ 148,2$2 $ 25,639 � Accounts receivable 80,706 80,70b _ Accrued interest receivable 2, 129 1,657 472 ` Amount to be provided by future revenue 148,664 • . 148,664 ' Fixeti assets, at cost or appraised values, � less accumulated depreciation 1,221,718 1�221,718 t�� - � Total assets ,�1,627,138 ,�1.1+52,.363 .�174,775 �:: LIABILITIES, RESERVES AND SURPLUS Liabilities Accounts payable Other City funds $ 5,349 $ 5,349 -- � � Other 404 404 �--� Deposits payable . 139,679 139,679 � Bonded indebtedness - Future maturities �` Bonds (Page 100) 135,000 $135,000 �„_ Interest 39,775 39,775 -- Reserve for retirement of �evenue bonds 1.10,898 110,898 � Investment in fixed assets 1,110,820 1,110,820 � Current surplus 85�213 85,213 Total liabilities, rese�:ves €� and surplus � �1,62�,138 51,452,363 5174�JJ� �a . � � �� a , . r. i � � � . � �: �, � � � . ..._ ... . :P 76 . � CITY OF FRIDLEY, MINNESOTA R SEWER AND WATER UTILITIES OPERATING FUND BA.LANCE SHEET - DECEMBER 31, 1965 AND 1964 .� � � � 1965 1964 ' ASSETS � CURRENT ASSETS -� Cash $ 148,282 � 158,745 Accounts receivable - Customers 80,706 71,724 , Accrued interest receivable 1,657 361 F Prepaid expenses 1,200 „ Total current assets �S 230,645 $ 232,030 �� FIXED ASSETS, at cost or appraised values (See �v� -note below) Land and Iand improvement $ 85,675 $ 83,133 4� Buildings and structures 417,622 411,988 Meters 153,874 142,323 Machinery and equipment 655,397 595,821 � Work in progress 57,648 62,799 �ffice equipment 5,338 5,222 Total cost $1,375,554 $1,301,286 Less acctimulated depreciation 153,836 110,014 Net fixed assets �1,221,718 . $1, 191,272 �� TOTAL ASSETS � ,�.1 452,363 .�.1,423;302 ' •-� Note - The City follows the practice of not including as part of fixed assets in _'� this fund the cost of the distribution system, which is paid for by assessment against benefited property or deferred tax Ievies, and which is included in General ; y Fixed Assets. AZthough the Utility Operating Fund has transferred monies to the �� special assessment debt service funds to pay principal and interest on some bond issues, the fund does not have an obligation to do so. Therefore, the City considers �� such transfers as direct charges against current surplus and not against income. Y� � _ .,� � �� _.� ��..-� » �: � �. ' 1965 1964 LIABILITIES, CONTRIBUTION AND RETAINED EARNINGS r• - I k. CURRENT LIABILITIES Accounts payable €� Other City funds - Public Employees' Retirement �y Association Fund $ 5,349 $ 4,352 Other 404 16,531 Total current liabilities $ 5,753 $ 20,883 � OTHER LIABILITY - Customers deposits $ 139,679 $ 131,019 . RESERVE FOR RETIREMENT OF REVENUE BONDS � 110,898 $ 116,575 y CONTRIBUTION AND INVESTNiENT IN FIXED ASSETS � City' s contribution in aid of construction $ 971,781 $ 950,084 Investment in fixed assets 139,039 124,613 Total contribution and investment in fixed assets $1, 110,820 $1,074,697 RETAINED EARNINGS AI�TD CURRENT SURPLUS , "" �-�i Retained earnings $ 335,150 $ 321,316 �� Deduct: Reserve for retirement of revenue bonds ( 110,898) ( 116,575) � Investment in fixed assets ( 139,039) ( 124z613) Current surplus $ 85,213 � 80, 128 �v -- �� TOTAL LIABILITIES, CONTRIBUTION AND RETAINED EARNINGS �^1�452,363 51,423�� I � ., �.. �g� E:� . e' � �v � � ..! �;._ ' i ' " !' , �i. f` � s:.. � i L� � � �, �.. 79 CITY OF FRIDLEY, MINNESOTA SEWER AND WATER UTILITIES OPERATING FUND �` ANALYSIS OF CHANGES IN SURPLUS � . YFAR ENDED DECEMBFR 31, 1965 AND 1964 1965 1964 � Current surplus �. Balance January l, 1965 $ 80,128 � 31,137 � Additions � Net income from operations $ 46,594 $ 73,255 Depreciation charged to investment in fixed assets 46,661 44,002 Loss on disposal of fixed asset, transferred to investment in fixed assets 160 389 - Total additions $ 93,415 $ 117,646 � Balance and additions �S 173,543 � 148,783 �.� . - , � Deductions � Acquisition of fixed assets from current year' s revenue recorded in investment in fixed assets $ 25,439 $ 13,016 Transfer to Waterworks Bonds of 1965 General Debt Service Fund 27,700 Transfer to sewer and water utilities debt service funds, utilities share of improvement costs 5,677 5,374 Transfer to special assessment debt service funds 29,514 - 50,265 t`` Total deductions ,� 88,330 $ 68,655 �� Balance December 31, 1965 $ 8�.,213 � 80,128 � ��' City contribution and investment in fixed assets - Balance January 1, 1965 1 074,697 $1, 100,908 ��. Additions Acquisition of fixed assets from current year' s F revenue $ 25,439 $ 13,016 � Utili.ties equity invested in existing fixed assets by transfer to sewer and water utilities debt service funds 5,677 5,374 F Fixed assets transferred frQm Water Project No. 34 51,828 �- Total additions $ 82,944 $ 18,390 € Balance and additions $1z157 641 �1�119,298 �:_ Deductions � Depreciation of fixed assets charged to operations $ 46,661 $ 44,Q02 �' Book value of fixed assets removed 160 599 r � Total deductions $ 46�$21 $ 44,601 x j �� Balance ►Jecember 31, 1965 $1�110,820 1 0 �,,6� � . f a 4,. ' � � _ . �C 80 � � CITY OF FRIDLEY, MINNESOTA SEWER AND WATER UTILITIES OPERATING FUND ` STATEMENT OF INCONLE YEARS ENDED DECEMBER 31, 1965 AI�TD 1964 , � � ` _;� 1965 � - -Gombined -Water Sewer .:� Operating revenue - � Water sales and sewer rents $328,747 $217,113 $111,634 ; Less discounts 6 364) 3 182) 3 182) '' $322,383 $213,931 $108,452 ,� Permits 7,210 3,150 4,060 � Sales of materials and miscellaneous services 2,219 2,219 . Total operating revenue 331 812 219 300 112 512 � Operating expenses Source of supply $ 84,291 $ 22,422 $ 61,869 Power and pumping 22,210 17,218 4,992 � Purification - 12,329 12,329 Transmission and distribution 90,887 47,274 43,613 Customer accounting and collecting 19,042 13,702 5,340 Administrative and general 10,234 5,048 5,186 Depreciation 46,561 44,044 2,6ll - Total operating expenses 2$5 654 162 037 123 617 "� � Operating income $ 46,Z58 263 11 10 ) Other income and (expenses) � �� Interest income 5,994 Interest expense ( 5,548) Miscellaneous 10) ,� Net income 6 9 � � _� .� R � � � _ 5 �_..,_ O 1 + �. � f ' `� 1964 �. � Combined Water Sewer. � �'. $354,355 $243,223 $111,132 � 6 570) 3 285) 3 285) `. $347,785 $239,938 $107,847 f 9,770 3,270 6,500 i._ 3,321 3t225 96 � 360 876 $246,433 114 443 E<... �° $ 93,067 $ 35,573 $ 57,494 �`` 27,715 17,484 10,231 13,382 13,382 80,987 41,501 39,486 17,801 12,549 5,252 9,255 5,193 4,062 44,002 47_,980 2,022 -- � , 286 209 167 662 5118,547 �.,; $ 74,667 .� 78,,771 ,�( 4,104) �; �'�' 4,877 �_ ( 5,900) � 389) �..;: 73 2 � � t �., �.. � . . � �:,_ �' L, �- �� s : --_ __ � 82 � CITY OF FRIDLEY. MINNESOTA SEWER AND WATER UTILITIES OPrRATING FUND STA�EMENT OF OPERATING EXPENSES YEAR ENDED DECr"'�.1BER 31, i965 AND 1964 � � 1 � � 196 5 �� - Combined Water Sewer ` � Source of supply Water purchased $ 21,487 $ 21,487 �� Sewer rental 61,869 $ 61,869 Maintenance and repair � Other 935 935 � Total source of supply 84 291 22 422 61 869 `°� Power and pumping Operation and maintenance $ 2,799 $ 543 $ 2,256 �� Equipment rental Electricity 16,188 13,452 2,736 Fuel - heating - 757 7.57 ;� Pump repairs - 2,399 2,399 Other 67 67 Total power and pumping 22 210 17 218 4 992 Purification . Operation and maintenance $ 173 $ 173 ,� Labor 8,207 8,207 ,, Supplies 1,542 1,542 Building repairs and maintenance 108 108 Electricity 92 92 , al� Fuel - heating 1,780 1,780 Telephone 225 225 Insurance 192 192 �� Other 10 10 � Total purification 12 329 12 329 ��.:. � � .� .� � � . � � � � � �� u� �- . �: 83 f � � r i_ �"' 4 , 1 �� 1964 �. Combined Water Sewer �^ $ 32,634 $ 32,634 57,107 $ 57,107 �-: 3,180 2,813 367 � 146 126 20 9� 3,067 35 573 57 494 �,. $ 10,160 $ 1,591 $ 8,569 -. 1,777 1,777 � 13,162 • 11,500 1,662 � 516 S I6 1,937 1,937 163 163 27 715 17 484 10 231 $ 916 $ 916 " � 6,873 b,873 1,949 1,949 527 527 �F 260 260 1,633 1,633 289 289 � 859 859 �.-- 76 76 13 382 13 382 K �a • �� _ �::.. � ��,a. ��. L.. „� � g� � � � � CITY OF FRIDLEY, MINNESOTA ' SEWER AND WATER UTILI�'IES OPERATING FUIv'D STATEMENT OF OPERATING EXPENSES (CONTINUED) YEAR ENDED DECEMBEP. 31, 1965 AND 1964 ^� � 1965 � ; Combined Water Sewer � �ransmission and distribution � t� Labor $ 60,284 $ 24,917 $ 35,367 � Operation and maintenance of equipment 2,536 2,536 ' Consulting fees 3,481 3,481 Supplies 3,063 2,346 717 � Repair and maintenance of services 2,106 1,221 885 Repair and maintenance of mains and lift station 12,499 12,499 � Meter repairs 868 868 Small tools 498 112 386 Insurance 3,002 1,268 1,734 "� Equipment rental , 2,407 1,417 990 Other - 143 90 53 Total transmission and distribution 90 887 47 274 $ 43,613 . Customer accounting and collecting Labor $ 12,315 $ 7,959 $ 4,356 Office supplies and postage 4,595 4,119 476 Maintenance of equipment 350 245 105 Telephone 258 172 86 ` Bank service charges 30 15 15 i, Consulting fees 1,434 1,132 302 � Other 60 60 Total customer accounting and � collecting $ 19,042 13 702 5 340 '� Administrative and general Labor $ 2,027 $ 760 $ 1,267 � Consulting fees and audit 1,162 575 587 General office expenses 565 445 120 Insurance 198 99 99 Hospitalization insurance contributions 934 467 467 1 Public Employees' Retirement Association �� contribution 5,348 2,702 2,646 Total administrative and general 10 234 5 048 5 186 � Depreciation 46 661 44 044 $ 2,617 Tota1 operating expenses S285a654 162 037 ,5123,617 � � ,� ._� � . 85 .. f,. �; . E" r � . E � 1964 � ` Combined Water Sewer � $ 49,055 $ 22,375 $ 26,680 � 3,800 1,324 2,476 2,308 2,308 4,142 3,490 652 _ 7,911 2,052 5,859 , �'" 9,690 9,690 �� ' 1,468 1,468 � � � � 556 314 242 � 1,762 753 1,009 295 35 260 80 987 41 501 39 486 $ 10,438 $ 6,981 $ 3,457 _ � � 5,362 4,086 1,276 ' �y, 285 144 141 244 122 122 420 210 210 �� 1,035 989 46 �' 17 17 �+ 17 801 12 549 5 252 � $ 2,269 $ 1,182 $ 1,087 � 1,702 1,058 644 429 ' 330 99 � � 503 251 252 4,352 2,372 1,980 � 9 255 5 193 4 062 44 002 41 980 2 022 � _ r � $286�209 S167,662 .�118,547 �� , r s • �, ( , € �.,: -- `� _- s 86 i CITY OF FRIDLEY, MINNESOTA " SEFiER AND WATER UTILITIES DEBT SERVICE FUNDS BALANCE SHEETS - DECEMBER 31, I965 � -Principal � � Combined and interest Reserve � - ASSETS , Cash $ 25,639 $ 8,841 $16,798 � Accrued interest receivable 472 472 Amount to be provided for debt ' � retirement from future reventzes 148,664 148,664 , Total assets 1 77 �157,505 17 2 0 �� LIABILITIES Liabilities � Bonded indebtedness � (future maturities) • Bonds (Page 10�) $135,000 $135,000 �'�� Interest 39,775 22,505 17 270 Total liabilities 5174,775 �157,_,�OS 17 2 0 STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS -� YEAR ENDED DECEMBER 31, 1965 � Cash balance January 1, 1965 25 020 8 862 16 158 y,� Receipts Interest $ 640 $ 640 I� Transfer from Sewer and Water Utilities �� Operating Fund 11,225 $ 11,225 Total receipts 11 865 11 225 640 � .� Total beginning cash and receipts 36 885 20 087 $16,798 Disbursements y� Bond principal $ 5,000 $ 5,000 Bond interest 6,225 6,225 Fiscal agent service charges 21 21 � Total disbursements 11 246 11 246 ,,;,� Cash balance December 31, 1965 ,S 25,639 ,� 8�841 16 798 � � .� � . � ..� ( 87 CITY OF FRIDLEY, MINNESOTA SEWER AND WATER UTILITIES DEBT SERVICE FtINDS DEBT SERVICE REQUIREMENTS DECEMBER 31, 1965 �_ ; - �. � F" � �_ � ' � Bond � Year principal Interest Total �: 1966 $ 10,000 $ 6,025 $ 16,025 f` 1967 10,000 5,625 15,625 � 1968 10,000 5,175 15,175 1969 10,000 4,725 14,725 �- 1970 10,000 4,275 14,275 � 1971 10,000 3,825 13,825 �� 1972 15,000 3,375 18,375 1973 15,000 2,700 17,700 � � 1974 15,000 2,025 17,025 1975 15,000 1,350 16,350 197b 15,000 675 15,675 5135,000 39 174 � � � � � ,.� � �. r. �4= �� ._ �` � � �_, � �., �- t �.. � i � � � � 89 CITY OF FRIDLEY, MINNESOTA . STATEMENT OF GENERAL FIXED ASSETS DECEMBER 31, 1965 t . � � GENERAL FIXED ASSETS � . Land $ 380,313 � � � � _ Buildings and structures 240,486 � Improvements other than buildings 10,591,062 Furniture, fixtures and office equipment 63,468 � Machinery and equipment 231,319 Construction work in progress 1,01$,498 �9m Total general fixed assets �12,525,146 �: INVESTMENT IN GENERAL FIXED ASSETS From general obligation bonds $ 519,325 From current revenues 607,870 � From assessments against benefited property 11,319,107 �.� From State aid • 20,045 � From Municipal Liquor Operating Fund 38,570 �a. From Sewer and Water Utilities Operating Fund 686 �..:. From contributions 19,543 @° Total investment in general fixed assets $12,525,146 � �:..: General fixed assets were priced at cost except that fixed assets for which cost � information was not available were priced at appraised values. �� I.. � ! �r 5° k � L.� � � � . � 9Q -- � CITY OF FRIDLEY, MIN�IESOTA ` SUNIME�RY STATEriENT OF TREASURER CASH RECEIPTS AND DISBURSEMENTS ALL FUNDS YEAR ENDED DECE'"i1BER 31, 1965 - Receipts � Cash � balance Investment January 1, Maturities Interfund ,j 1965 �cost) _ transfers Other Total L� Fund • � General Fund $ 97,534 $ 88, 149 $ 786,745 $ 874,894 u' Special revenue funds ( 11,033) 55,932 273,920 3Z9,852 i� Bond funds 4,478 508,466 508,466 Special Improvements -� Revolving Fund 32,902' 6,458 66,762 73,220 Special assessment `� funds Construction 186,016 56,417 1,319,921 1,376,338 Debt service 1,033,903 $ 752,000 777,303 1,780,604 3,309,907 General debt service funds 16,688 74,975 36,194 111,169 �� Trust and agency funds 7,356 11,351 35,939 47,290 Municipal liquor funds ,�� Operating 116,241 1,080,412 1,080,412 Debt service 36,242 14,854 520 15,374 � Sewer and water utilities fund s Operating 158,745 345,198 345,198 � Debt service 25,020 11,225 640 11,865 Total 52,704,092 S 752,000 $1�09b 664 ,�6.235,321 ,58,083 98� -� � � - .� ..� 1� r ;: � 91 � � � Disbursements } " ;� , Cash balance � Investment Interfund December 31, i purchases transfers Other Total 1965 � � $ 351 $ 911,028 $ 911,379 $ 61,049 �, 2,944 215,628 218,572 . 100,247 L 53,149 . 24,155 77,304 435,640 �'_� 36,349 280 36,b29 69,493 � � �: 48,268 816,706 864,974 697,380 $ 360,000 768,905 1,40�,641 2,532,546 1,811,264 �- 2,275 79,633 81,908 45,949 �. � 46,885 46,885, 7,761 �. �-� 101,853 964,337 1,066,190 130,463 , 22,386 22,386 29,230 ��A � 82,570 273,091 355,661 148,282 � 11,246 11,246 25,639 , � 360,,000 51.,,096,664 $4,769L416 6 225 680 53Y562,397 �, _ t:.. _ �. � � . l:� � �.; � k� 4 4..; _. _ � 92 ` � CITY OF FRIDLEY, MINNESOTA STATEMENT OF CASH DECEMBER 31, 1965 .� _ � Treasurer cash Cash in banks (deficit) .Checking accounts F� Camden Northwestern State Bank, _'1'1 Minneapolis, Minnesota $ 35,650 . � Fridley State Bank, Fridley, Minnesota ( 40,417) Total checking accounts $( 4,767) � Certificates of deposit Camden Northwestern State Bank, �� Minneapolis, Minnesota $1,401,000 � Fidelity Bank and Trust Company - Minneapolis, Minnesota -400,000 FridZey State Bank, Fridley, Minnesota 195,000 Total certificates of deposit 1,996,000 �- Total cash in banks $1,991,233 Temporary investments � Federal Home Loan Bank Notes $ 600,290 United States Treasury Bills 556,549 Federal Land Bank Notes 350,000 Federal Intermediate Credit Banks 50,000 Total temporary investments 1,556,839 Petty cash and change funds Clerk's office $ 125 � Municipal Court 25 ' Public utilities 75 Municipal Liquor Operating Fund 14,100 � Total petty cash and change funds 14,325 Total treasurer cash $3a 562,397 , `� ..� � L.� :�t � � � . � _ � � • � � .� �_� �� . 93 CITY OF FRIDLEY, MINNESOTA STATEMENT OF UNITED STATES GOVERNMENT SECURITIES PLACED IN ESCROW BY DEPOSITORY BANKS FOR THE SAFEGUARDING OF CITY FUNDS �. ; DECEMBER 31, 1965 �Y �.. � �- Face amount of � Depository bank Escrow bank securities �.w Camden Northwestern State Bank, Northwestern National Bank, $1,800,000 i"° Minneapolis, Minnesota Minneapolis, Minnesota L. Fidelity Bank and Trust Company, Federal Reserve Bank, $ 641,000 Minneapolis, Minnesota Minneapolis, Minnesota �- Fridley State Bank, Northwestern National Bank, $ 300,000 Fridley, Minnesota Minneapolis, Minnesota �� Additional coverage of $10,000 is provided at each depository bank by the Federal Deposit Insurance Corporation. �.� f' �a �..� � € � ��. . � i �_� �.�. C�� k � �� F e{� E.. � �> ___ __ P� 94 � CITY OF FRIDLEY, MINNESOTA INVESTMENT IN CITY OF FRIDLEY TEMPORARY BONDS DECENIBER 31, 1965 --� � Interest Maturity � ra�e date Amount .,� � --flwned by Regular Special Assessment � Debt Service Fund . Issued by � Storm Sewer Project No. 5 4.50% 7/1/66 $185,000 ,� Storm Sewer Project Nb. 5 4.50 8/1/67 75,000 Sewer and Water Project No. 70 4.50 1/15/67 35,000 � Storm Sewer Project No. 73 4.50 11/15/67 100,000 ,� 1965 Street Improvement Project 4.50 11/15/67 150�000 I� Total investment in City of -� Fridley Temporary Bonds 545 000 � !.! v� LL'�J � � . � � x� . � � �,� �,: � 95_�, CITY OF FRIDLEY, MINNESOTA BONDS PAYABLE - ALL FUI�IDS DECEriBER 31, 1965 � � Ls � . � Date Maturity Interest Principal of issue date rate amount �` Special Assessment Debt Service Funds � ' ReguTar i_: Sewer Improvement Bonds maturing $4,000 per year 5/1/54 5/1/66-73 2.00% $ 32,000- � , May l, 1974 5/1/54 5/1/74 3.00 2,000 Wat2r and Sewer Improvement r Bonds of 1954 maturing �.. $15,000 per year 8/1/54 8/1/66-70 3.50 75,000 $15,000 per year 8/1/54 8/1/66-70 4.00 75,000 {' $20,000 per year 8/1/54 8/1/7i-74 3.50 80,000 �� $20,Q00 per year 8/1/54 8/1/71-74 4.00 80,000 Water and Sewer Improvement � , Bonds maturing $15,000 per yeaz 11/1/54 11/1/66-67 3.50 30,000 $15,000 per year 11/1/54 11/1/68-70 4.00 45,000 $20,000 per year 11/1/54 11/1/71-74 4.00. 80,000 Water and Sewer Improvement _ Bonds maturing � $15,000 per year 5/1/55 2/1/66-71 3.60 90,000 " $15,000 per year � � 5/1/55 8/1/66-71 3.60 90,000 $20,000 per year 5/1/55 2/1/72-75 3.60 80,000 $20,000 per year 5/1/55 2/1J72-75 3.60 80,000 , General; Oblig�tion� Impro�em�nt t' Bonds maturing �µ $15,000 per year 10/1/55 2/1/66-72 3.60 105,000 515,000 per year 10/1/55 8/I/66-72 3.60 I05,000 $20,000 per year l�/1/55 2/1/73-75 3.60 60,000 . $20,000 per year 10/1/55 8/1/73-75 3.60 60,000 Improvement Bonds maturing � $35,000 per year - 8/1/56 8/1/66-70 4.50 175,000 �. $30,000 per year 8/1/5C� 8/1/71-74 4.75 120,000 August l, 1975 8/I/56 8/1/75 4.75 50,000 � August 1, 1976 8/1/56 8/1/76 . 4.75 55,000 Total Regular Special Assessment Debt Service Funds 1 569,000 � . d` � �., � �. 96 CITX OF FRIDLEY. MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINtTED) DECEMBER 31, 1965 Date Maturity Interest Principal of issue date rate amount _ ___.__Special Assessment Debt Service Funds � (continued) Improvement Bonds of 1960 maturing $80,000 per year 10/1/60 1/1/66-68 4,00% $ 240,000 January l, 1969 10/1/6Q 1/1/69 4.00 75,000 . - " January 1, 1970 10/1/60 1/1/70 4,00 - 80,000 $80,000 per year 10/1/60 1/1/71-73 4.10 240,000 � January 1, 1974 10/1/60 .1/1/74 4.10 75,000. _� $80,000 per year 10/1/60 1/1/75-78 4.10 320,000 January 1, 1979 10/1/60 1/1/79 4,10 75,000 � January 1, 1980 10/1/60 1/1/80 4,10 80,000 µ� January 1, 1981 10/1/60 1/1/81 4.10 70,000 - " - ,?anuary 1, 1983 10{1/60 1/1/82 4,10 75,000 Total Improvement Bonds of 1960 Special Assessment � Debt Service Fund $1,330,000 I�provement Bonds of 1962 � lst series maturing $40,000 per year S/1/62 2/1/66-67 3,10 $ 80,000 February l, 1968 5/1/62 2/1/68 3,10 35,000 �'ebruary 1, 1969 5/1/62 2/1/69 3.10 10,000 February 1, 1970 5/1/62 2/1/70 3,50 5,000 February 1, 1971 5/1/62 2/1/71 3.50 10,000 � Eebruary l, 1972 5/1/62 2/1/72 3.50 5,000 Fe�ruary 1, 1973 5/1/62 2/1/73 3.50 10,000 February 1, 1974 5/1/62 2/1/74 3,80 5,000 4� . February 1, 1975 5/1/62 2/1/75 3.80 10,000 February l, 1976 5/1/62 2/1/76 3.80 5,000 February l, 1977 5/1/62 2/1/77 3.80 10,000 February l, 1978 5/1/62 2/1/78 3.80 5,000 � February 1, 1979 �/1/62 2/1/79 3.80 10,000 $5,000 per year 5/1/62 2/1/80-82 3.80 15,000 Total Improvement Bonds of 1962 Special Assessment � Debt Service Fund $ 215,000 Improvement Bonds of 1963 maturing � $80,000 per year 1/1/63 1/1/66-68 3.20 $ 240,000 $$5,000 per year 1/1/63 l/1/69-70 3.20 ll0,000 _3 $b0,000 per year 1/1/63 1/1/71-73 3.50 180,000 � January 1, 1974 1/1/63 1/1/74 3.50 50,000 January 1, 1975 1/1/63 1/1/75 3.70 45,000 � $3�,OOQ per year 1/1/63 1/1/76-77 3.70 60,000 � $30,000 per year 1/1/63 1/1/78-79 3.80 60,000 $35,000 per year 1/1/f3 1/1/80-83 3.80 140,000 Total Improvement Bonds of 1963 Special Assessment q� Debt Service Fund $ 945,000 �� ¢C t �:_ 9 7 � CITY OF FRIDLEY, MINNESOTA BONDS PAYABLE - ALL FUNDS �CONTINUED) DECEMB�R 31, 1965 �_. Date Maturity Interest Principal € of issue date rate . amount } Special Assessment Debt Service Funds � � _ Scontinued) � Refunding Bonds maturing �-- $165,000 per year 2/1/64 2/1/66-67 3.10% $ 330,000 $155,000 per year 2/1/64 2/1/68-71 3.10 620,000 � February 1, 1972 2/1/64 2/1/72 3.30 155,000 �, $105,000 per year 2/1/64 2/1/73-75 3.30 315,000 $105,000 per year 2/1/b4 2/1/76-79 3.40 420,000 ;- February 1, 1980 2/1/64 2/1/80 3.40 40,000 ; 6 ` Total Refunding Bonds Special Assessment Debt Service Fund $1,880,000 �-� Improvement Bonds of 1965 maturing $50,000 per year 5/1/65 2/1/H6-71 *3.20 300,000 �Y $30,000 per year S/1/65 2/1/72-75 *3.20 120,000 $30,000 per year S/1/65 2/1/76-78 *3.30 90,000 $30,000 per year 5/1/65 2/1/79-80 *3,40 b0,000 February 1, 1981 5/1165 2/1/81 *3,40 25,000 $25,000 per year 5/1/6S 2/1/82-85 .*3,50 100,000 February l, 1986 5/1/65 2/1/8E� *3.50 20,000 � Total Improvement Bonds of 1965 $ 715,000 � �' * Additional interest at the annual rate of 1.30% from August 1, 1965 to �, February 1, 1966. ' Sewer and Water Project No. 48 � Improvement Bonds maturing �-' $120,000 per year 10/1/61 1J1/66-68 4.00 $ 360�000 $120,000 per year 10/l/6i 1/1/69-72 4.10 480,000 � January 1, 1973 10%1/61 1/1/73 4.10 110,000 f �_. ' � Total Sewer and Water Project No. 48 Special Assessment � Debt Service Fund $ 950,000 � �h � �� - ' � � � �, . � �w. � 9$ � G CITY OF FRIDLEY, MINNESOTA . BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1965 Date Maturity Interest Principal of issue date rate amount � Special Assessment bebt Service Funds � �continued) Storm Sewer Projec� No. 5 � - 'Temporary Bonds 7/1/64 7/1/66 4,SO% $ I85,000 �-� Storm Sewer Project No, 5 � � Temporary Bonds 8/1/65 8/1/67 4.50 $ 75,000 � Sewer and Water Project No. 70 - � Temporary Bonds 1/15/65 1/15/67 4,50 $ 35,000 � - Storm Sewer Project No. 73 Temporary Bonds 1I/I5/65 11/15/67 4,50 $ 100,000 �� 1965 Street Improvement Project Temporary Bonds 11/15/65 11/15/67 4,50 $ 150,000 � Total. Special Assessment Debt Service Funds ,�8,149,000 � , � .,.t , � � � - ,;� � � �` �:.. 9 y CITY OF FRIDLEY, MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1965 _ e Date Maturity Interest Principal of issue date rate amount t General Debt Service Funds � Park Bonds of 1962 and 1963 maturing �, � $15,000 per year 5/1/62 2/1/66-69 3.00°G $ 60,000 j , February 1, 1970 5/1/62 2/1/70 3.40 15,000 �- $20,000 per year 5/1/62 2/1/71-73 3.40 60,000 $10,000 per year 1/1/63 1/1/66-67 3.20 20,000 �' $15,000 per year 1/1/63 1/1/68-70 3.20 45,000 �x_ January 1, 1971 1/1/63 1/1/71 3.50 15,000 $20,000 per year 1/1/63 1/1/72-73 3.50 40,000 January 1, 1974 1/1/63 1/1/74 3.50 25,000 �° Total Park Bonds of 1962 and 1963 $ 280 000 _ Civic Center Bonds of 1965 maturing " �- February l, 1968 5/1/65 2/1/68 *3.20 $ 15,000 $20,000 per year 5/1/65 2/1/69-73 *3.20 100,000 � $25,000 per year 5/1/65 2/1/74-75 *3.20 50,000 $25,000 per year 5/1/65 2/1/76-77 *3.30 50,000 February I, 1978 5/1/65 2/1/7$ *3.30 25,000 $30,000 per year 5/1/65 2/1/79-81 *3.40 90,000 February 1, 1982 5/1/65 2/1/82 �3.50 30,000 $35,000 per year 5/1/65 2/1/83-86 *3.50 140,000 � � Total Civic Center Bonds of 1965 $ 500,000 �.� Waterworks Bonds of 1965 maturing �" $10,000 per year 5/1/65 2/1/68-70 **3.20 $ 30,000 � $35,000 per year 5/1/65 2/1/71-72 **3.20 70,00(1- - February 1, 1973 5/1/65 2/1/73 **3.20 20,000 �- February 1, 1974 5/1/65 2/1/74 **3.20 35,000 February 1, 1975 5/1/65 2/1/75 **3.20 Z0,000 � February 1, 1976 5/1/65 2/1/76 **3.30 35,000 $50,000 per year 5/1/65 2/1/77-78 ��',3.30 100,000 �' $50,000 per year 5/1/65 2/1/79-81 **3.40 150,000 �. $50,OOO .per year 5/1/65 2/1/82-87 *^'3.50 300,000 February l, 1988 S/1/65 2/1/88 ^*3.50 20,000 e �y . Total Waterworks Bonds of 1965 $ 780,000 � Total General Debt Service Funds ,�1,560�OOQ-�-- F�_ * Additional interest at the annual rate of 2,00% from �' August 1, 1965 to February 1, 1966, f E�_ ** Additional interest at the annual rate of 2.40% from � July 1, 1965 to February 1, 1966. � `e �,A �. t �. c. 100 � CITY OF FRIDLEY, MINNESOTA BONDS PAYARLE - ALL FUNDS (CONTINUED) DECII�IBER 31, 1965 . . ._.. � Date Maturity Interest Principal � of -issue -date rate amoun� Municipal Liquor Debt Service Fund � (Principal and Interest) ° . Municipal Building Revenue Bonds maturing • September l, 1966 9/1/56 9/1/66 4.00% $ 15,000 � $15,000 per year 9/1/56 9/1/67-71 4.25 75,000 $ 3,000 per year 12/1/57 9/1/66-71 4.80 18,000 Total Municipal Liquor Debt Service Fund $ 108,000 � Public Utilities Debt Service Fund � (Principal and Interest) Water and Sewer Revenue Bonds maturing September 1, 1966 9/1/56 9/l/66 4.00 $ 10,000 $10,000 per year 9/1/56 9/1/67-71 4.50 50,000 � $15,OOO. per__ year 9/1/56 9/1j72-76 4.50 75,000 Total Public Utilities Debt Service Fund $ 135,000 Total Bonds Payable - all funds S9,952,000 , . !� � <� �� i ��a �,� 101 CITY OF FRIDLEY, MINNESOTA DEBT SERVICE REQUIREMENTS - ALL FUNDS DECE?�ER 31, 1965 e.. � ' � Bond � ' Year principal Interest Total 1966 $1,097,000 $ 374,556 $ 1,471,556 �- 1967 912,000 321,365 1,233,365 1968 747,000 279,289 1,026,289 � � 1969 727,000 252,888 979,888 , 1970 727,000 226,696 953,696 1971 747,000 199,913 946,913 1972 724,000 172,632 8°6,632 � 1973 b64,000 146,895 810,895 1974 537,000 124,645 661,645 1975 460,000 106,282 566,282 1976 380,000 89,837 469,837 ._ 1977 330,000 75,008 405,008 1978 325,000 63,202 388,202 1979 330,000 51,35D 381,350 � 1980 270,000 40,370 310,370 1981 215�,000 31,365 246,365 1982 2?_0,000 23,178 243,178 1983 145,000 16,415 161,415 1984 110,000 11,900 121,900 1985 110,000 8,051 --- 118,051 � 1986 105,000 4,287 109,287 � 1987 50,000 1,575 51,575 1988 20,000 350 20,350 �� 9 . 2,00 52�622,049 �12,�574,049 � _ �" � �: � �,, _ � �. � �..; �.. � � �, fl �. � � � i02 - — � CITY OF FRIDLEY, MINNESOTA ASSESSED VALUATIONS TAX LEVIES AND MILL RATES (Shown by year of tax collectibility) � 1963 1964 1965 I966 � Assessed valuations Real estate $ 8,879,133 $ 9,795,002 $11,656,588 $12,273,175 i - Personal property 2�292,827 - 2,391,614 2,488,612 2,463,857 Total $11,171,960 S12y186,616 514,145.�200 S14�737 ,032 � _ � Tax levies General Fund $ 365,5$9 $ 379,768 $ 444,159 $ 497,375 � Public Employees' Retire- _ ment Association Fund 14,050 19,147 17,6$2 I9,747 Firemen's Relief Associa- tion Fund 11,172 I2,196 I4,I45 14�,737 � General debt service funds 16,532 33,416 36,919 56,885 Improvement bonds 26,568 52,762 53,201 Total ,S 407.343 $ 471.095 S 565,667 S 641 945 � Mill rates General Fund 32.72 31,16 31.40 33.75 Public Employees' Retire- ment Association Fund 1.26 1.57 1.25 1.34� Firemen's Relief Associa- �� tion Fund I.00 1,00 1.00 1.00 .w� General debt service funds 1.48 2.74 2.61 3.86 Improvement bonds � 2.18 3.73 3.61 � Total 36.46 38,65 39.99 43.56 � ..� . � _, � � �� ;� :.-� � _ � . 103 CITY OF FRIDLEY, MINNESOTA TAX LEVIES AND TAX COLLECTIONS YEARS 1960 THROU�H 1965 � � �: �" Collections Percentage Collection � of current of levy of prior Ratio years' t�es collected years' taxes of total �- Year Total during' fiscal during fiscal during fiscal Total collections � collected tax levy period period period collections to tax levy t: . 1960 $205,608 $202,592 98.53% $ 3,806 $206,398 1.0038:1 �'-• 1961 250,182 243,007 97.13 3,970 246,977 .9871:1 � 1962 355,994 351,707 98,79 3,828 355,535 .9987:1 �. 1963 407,343 394,611 96.87 5,011 399,622 .9810:1 � 1964 471,095 456,350 96.87 7,243 463,593 .9840:1 1965 565,667 547,313 96.76 7,658 544,971 .9811:1 � � � � � � � �� . � � � t�: , � � � � � . $`` � � � _- _ � 104 �� CITY OF FRIDI:EY, MINNESOTA - INSURANCE COVERAGE DECEMBER 31 Z 1965 � � � Major insurance coverage at January 1, 1966_ is summarized below. � !� Fire and extended coverage � City Hall � Building $136,000 � Contents � 71,500 -� Bennet $uilding . Building 12,000 ;j Contents 3,500 _� Madsen Building - Contents 5,000 Qman Building - Building 15,000 � Pump Houses � Buildings 34,350 Contents 70,000 ,� Equipment building and contents 35:,800 � Water tanks and reservoir 186,000 Municipal Liquor Store No. 1 Contents 15,000 '� Stock - 30,000 -� Municipal Liquor Store No. 2 Building 60,000 Contents 30,000 Stock 75,000 Municipal Liquor Store No. 3 � Building 157,000 i'� Contents 39,000 �� Stock 100,000 Municipal Liquor Store No. 4 � Contents 20,000 Stock 60,000 Iron removal plant and pump house � Building 202,000 , Contents 186,000 Park building and contents 37,000 Comprehensive liability � Bodily injury Automobiles 100/300,000 �9 Except automobiles 100/300,000 '� Liquor liability 100/300,000 Property damage Automobiles 50/100,000 Except automobiles 50/100,000 °� Money and securities, inside/outside premises - all locations 15/ 15,000 �� urglary Municipal Liquor Store No. 1 10,000 � Municipal Liquor Store No. 2 10,000 Municipal Liquor Store No. 3 10,000 � Municipal Liquor Store No. 4 10,000 ::� � �- 105 � CITY OF FRIDLEY, MINNESOTA INSURANCE COVERAGE .(CONTINUED) DECEMI3ER 31, 1965 �.: � Business interruption � Municipal Liquor Store No. 1 $ 35,000 Municipal Liquor Store No. 2 57,000 � Municipal Liquor Store No. 3 62,000 Municipal Liquor Store No. 4 50,000 �W Depositors forgery bond - all locations 10,000 �_ Plate g�ass breakage replacement � ' Workmen's compensation statutory ` � ui ment floater 80,000 q P �� Neon sign 2,000 Motor truck cargo 500 � . 90% Co-insurance is applicable to all buildings and 40°Jo Co-insurance is applicable to all liquor store sto�k. � EMPLOYEES SURETY BONDS ^� � DECEMBER 31, 1965 � Surety Name Position bond _ Marvin C. Brunsell Clerk $ 1.,000 �� Marvin C. Brunsell Treasurer 25,000 � Mervin Herrmann Assessor 500 �� Virgil V. Wills Clerk of Municipal Court 1,000 � All employees .of the City are covered by a blanket faithful performance bond of , 15,000 r � �:. � � � � � , �;: � � 106 ---- � CITY OF FRIDi�Y, MINNESOTA > ESCROW AGErIT ACCOUNT COMNIENT S . � ---Refunding bonds in the amount of $2,025,000 were sold by the City in 1964 for the advance'payment of the remaining bonds outstanding of three City bond issues. � The escrow agent is to use the bond proceeds, interest earned on invest�nents and other receipts for the payment of bond principal and interest, and fox` the pay- men� of the call costs when the callable bonds are redeemed. - � I Bond issues refunded by the City are, Sewer and Water Project No. 13 �i Improvement Bonds issued 1/I/59 $ 270,000 - - Sewer and Water Project Nos, 21 and 22 Improvement Bonds issued 12/15/59 505a000 � Improvement Bonds of 1961 issued S/1/61 I,250,000 52,025,000 � �� - � � �� -- 107' GITY OF' FRIDLEY, MZNNESOTA �� ESCROW .AGE43T ACCOUNT B�LANCE SHEET ( DECEI�iBER 15, 1965 � � E: �„ ASSETS � Cash with. escrow agent $ 4,009 Cash with fiscal agents 48,476 �- Investments, at cost 1,894,881 Accrued interest receivable , 10,460 Amount to be provided 281,132 �� Total assets 52�238,958 �-- LIABILITIE� AND RESERVES Bonded indebt,edness � Matured honds and interest $ 48,476 Future maturities Bonds 1,845,000 � Interest 321,908 Reserves for Future call costs 20,375 Fiscal agents service charges 3,199 Total liabilities and reserves 52�238,958 �w-` STATEMENT OF RECEIPrS AND DISBURSEMENTS DECEMBER 16, 1964 to DECEMBER 15, 1965 �,, Cash balance December 16, 1964 $ 25,582 - Receipts �N Investment maturities, at cost $ 208,903 Interest 75,185 � Total receipts $ 284,088 �. ; Total beginning balance and receipts $ 309,670 � Disbursements Investment purchases $ 69,330 Bonds 155,000- Interest 80,935 �µ Fiscal agents service charges - 396-- '�_ Total disbursements $ 305,661 � Cash balance December 15, 1965 S, 4,009 �.. � � x � � � � � � �r 108 -- _-- " CITY OF FRIDLEY, MINi�TESOTA � ESCROW AGENT ACCOUNT ^ � BOND5 FAYABLE DECEMf;ER 15 1965 � Date Matu'rit " Interest Princi al � Y P af issue date rate amount Sewer and Water Project No. 13 � Improvement $onds maturing $15,000 per year 1/1/59 1/I/66-69 4.00% $ 60,fl00 ^�� January 1, 1969 �/1/59 1/1/69 4.20 195,000 Sewer and Water Project Nos. 21 and 22 Improvement Bonds maturing � $30,000 per year 12/15/59 12/15/66-69 4.30 120,000 December 15, 1969 12/15/59 12/15/6"9 4.50 330,000 Improvement Bonds of 1961 � matnring $110,OG0 per year S/1/61 2/1/65-67 4.00 ` 220,000 �� 95,000 per year 5/1/61 2/1/6b-67 4.00 380,000 ' rebruary I; 1972 5/1/61 2/1/72 4.10 135,000 February l, 1972 5/1/61 2/1/72 4.20 405,000 Total bonds payable 51.845,000 , � � _ � � � .:J .'..J . � _ �� 109, �.. CITY OF FRIDLEY, MINNESOTA �. ESCROW AGENT ACCOUNT �"� DEBT SERVICE RE,QUIREMENTS DECEMBER 15, ,1965 �, � Bond , Year Principal Interest Total � 19bb $ 155,000 $ 74,645 $ 229,645 �.� 1967 155,000 68,355 223,355 �.� 1968 140,000 62,365 202,365 1969 665,000 52,580 717,580' �' 1970 95 000 28 245 123 245 � > > �j 1971 95,OOQ 24,445 119,445 , 1972 540,000 11,273 5,51,2�3 � S 1�,845•000 321 90 �2,1�i6.908 �: i �� .� .�. � i . �.. �. � �. �" � � E �a €' � �. � � � i I