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1969 Financial Statements � «_ CITY OF FRIDLEY� MINNESOTA -' FINANCIAL STATEMENTS DECEMBER 31, 1969 ..._.� � � �.. ._ ... � � � ,... • � CITY pF FRIDI,EY, MINNESOTA � ELECT�D AND APPOINTED OFFICIALS " DECEMBER 31, 1969 Term of office — expires Januar� Elected '-' Mayor - Jack 0. Kirkham 1g�2 City Council David 0. Harris 1g�2 — Frank G. Liebl 1973 Tim F. Breider 1973 Raymond E. Sheridan 1971 ,� Leonard W. Samuelson (Term expires January, 1970) Appointed '-' City Manager - Homer R. Ankrum Clerk-Treasurer - Marvin C. Brunsell Attorney - Leonard T. Juster, Effective April 1, 1970 — Assessor - Mervin Herrmann Engineer - Nasim Qureshi _ City Attorney - Virgil C. He�rick, Term expires March 31, 1970 � CITY OF FRIDLEY, MINNESOTA , � _ � TABLE OF CONTENTS Page _, Independent certified public accountants ' opinion 1 Comments 2 '" Balance sheets - All funds g General and special revenue funds — Balance sheets 10 General Fund Statement of revenue - Actual compared with budget estimates 11 _ Statement of expenditures - Actual compared with budget estimates 12 Special Revenue funds - Statements of cash receipts and disbursements 18 Civic Center Bond Fund '- Balance sheet 19 Analysis of changes in unencumbered appropriation balance 19 Investment Fund �� Balance sheet 21 Statement of cash receipts and disbursements 21 Special assessment funds Balance sheets 22 Statement of cash receipts and disbursements 23 — Individual fund balance sheets Construction 24 ' Debt Service 26 ^ General debt service funds � Balance sheets 30 Statements of cash receipts and disbursements 30 Municipal Building Revenue Bond Fund (Liquor Dispensary) Balance sheet 31 — Liquor Operating Account Statement of income 32 Analysis of changes in retained earnings 32 _ Statement of operating expenses 34 Statement of changes in assets restricted for liquor revenue bond debt service Sinking Account 36 " Reserve Account 36 � .. -, CITY OF FRIDLEYI MINNESOTA , � � , TABLE OF CONTENTS (CONTINUED) ,,,� � Page Water and Sewer Revenue Bond Fut�d .-, Balance sheet 37 Operation and Maintenance Account - Statement of income 38 Analysis of changes in retained earnings 38 ^ Statement of changes in assets restricted for revenue bond debt service Sinking Account 3g Reserve Account 39 ^ Construction Account 39 Trust and agency funds .., Balance sheets 40 Statements of cash receipts and disbursements 40 .� Statement of general fixed assets 41 Miscellaneous information Statement of cash and security for deposits 42 /�"" Summary statement of cash receipts and disbursements 42 Bonds payable - All funds 43 Debt service requirements - All funds 49 �.- Certificates of Indebtedness - General Fund 49 Assessed valuations, tax levies and mill rates 50 Tax levies and tax collections 51 Insurance coverage 53 � Employees' surety bonds 53 .� �., � .. � ^ � .� G E O R G E M . H A N S E N C ❑ M P A N Y '"' Certified Public Accourztants � 175 SOUTH PLAZA BUILDING WAYZATA BOULEVARD AT HIGHWAY 100 MINNEAPOLIS. MINNESOTA 55416 � 545•5657 April 24, 1970 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, 1969. Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the � circumstances. In our opinion, these statements present fairly the financial position of the " respective funds of the City of Fridley, Minnesota at December 31, 1969 and the results of their operations for the year then ended, in conformity with generally accepted governmental accounting principles applied on a basis _. consistent with that of the preceding year. - �.�-�-�-y � �'I , ��-y° a"".� � ^ 2 � CITF OF FRIDLEY, MINNESOTA / ,. CONIMENTS .� The Village of Fridley attained City status in accordance with a charter approved � by the electorate September 10, 1957. The Charter provides for 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 control over the city administration, but shall exercise this control exclusively through the city manager and shall not itself attempt to perform any administrative work." The council is elected by popular vote and consists of five members, including 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 revenue in the year collected. 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. GENERAL FUND " The General Fund was established to account for the revenues and expenditures necessary to provide basic governmental services to the City such as general govern- ment, public safety and highway maintenance. ��. In the following statements, revenues are recorded by source, while expenditures are recorded by department. Included in "General property and other taxes" in the statement of revenue are property and bank excise taxes and payments from the State ^ property tax relief fund for homestead tax and exempt property tax replaceq�ent. A plan of financial operation of the Fund is set forth in the annual budget adopted ^ 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 1969 1968 Budget Budget �" Actual estimates Actual estimates General property taxes $ 720,572 $ 713,344 $ 623,882 $ 599,402 -� Licenses and permits 90,241 89,409 103,539 51,350 Fines and forfeitures 19,035 10,000 17,947 18,950 From use o£ money and property 29,575 20,400 15,981 6,100 �„ From other agencies , 263,780 256,529 254,062 256,360 Charges for current services 24,957 44,130 34,450 14,885 Other revenue 10,203 20,332 7,213 4,850 Transfers from other funds 212,123 207,000 174,000 174,000 "' Prior year's fund balance 30,865 � Total revenue $1.370.486 1.392.009 �1.231.074 1.125.897 �. .� 3 � EXPENDITURES � 1969 1968 Budget Budget ^ Actual estimates Actual estimates General government $ 247,103 $ 261,621 $ 240,605 $ 244,032 .- Public safety 491,858 511,724 375,458 389,964 Highways 335,159 349,473 285,109 286,656 Sanitation and waste removal 29,860 34,353 23,814 24,830 Conservation of health 5,898 5,642 4,792 5,385 T City band 1,516 � 1,600 1,164 1,600 Recreation 55,813 59,369 44,849 48,010 Municipal parks 141,047 '' 142,627 123,595 120,511 " Reserve for contingencies 15,600 Hospitalization insurance 12,456 10,000 8,873 9,000 _. Total expenditures 1.320.710 51.392.009 $1�108.259 51.129.988 Actual revenues exceeded budget estimates during 1969. Expenditures were under budget _ by $71,299. As a result, the fund balance increased $49,776, during 1969, to $353,675 at December 31, 1969. Shown on the balance sheets are amounts to be provided for land, building and equipment �- acquistion. Repayment is to be made in annual installments and financed by current tax levies. _,� SPECIAL REVENUE FUNDS Municipal State Aid Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street construction are accounted for in this fund. Transfers '-' are also made to this fund from special assessment debt ser�ice funds. Any excess of amounts assessed over construction costs have been restricted in this fund for payment of seal coating expenditures. At December 31, 1969, $231,795 of the fund balance was - available for future seal coating. 1969 Flood Fund - This fund was established to account for expenses incurred by the ^ City resulting from flood damage in 1969. Additional expenditures will be incurred in 1970. Reflected on the balance sheet is a receivable for Federal aid in the amount of $115,382, for which the City has received tentative approval from the Office of Emergency Preparedness. After all expenditures have been determined, an audit of the -' flood costs will be conducted by the Office of Emergency Planning. The total amount of aid cannot exceed $115,382. - Park Capital - A grant of $35,750 was received in 1969 from the State of Minnesota for acquisition of park land. The balance in the fund is restricted for that purpose. ^, CIVIC CENTER BOND FUND Civic Center Bonds in the amount of $500,000 were issued in 1965 for construction of additional city hall facilities. Substantially all of the construction has been com- pleted with an unencumbered balance of $4,537 available for further construction at "- December 31, 1969. /� INVESTMENT FUND - This fund was established to more effectively handle the accounting for investments and interest earned thereon. All investments are carried in this account during the year and transferred to their respective funds at the year end. 4 INVESTMENT FUND (CONTINUED) Consequently, at December 31, 1969, this fund shows only interest earned but not / , yet received. SPECIAL ASSESSMENT FUNDS Special assessment funds are established to account for special assessments levied to finance improvements or services deemed to benefit the properties against which — the assessments are levied. Primarily, the transactions accounted for in specisl 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 disburse- ment of assessment collections for the payment of bonds and interest, Several special assessment construction funds showed cash deficits as of December 31, " 1969. 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 special assessments receivable collected to pay current expenditures and eliminate _ the deficits. The debt service fund for Improvement Bonds of 1963 show a deferred tax levy of $525,000 to pay costs of water and sewer system expansion not assessed against benefited property. It is anticipated that the unassessed costs will be paid from earni�gs of the Water and Sewer Utilities Operating Fund and that annual collectible amounts of the levy will be canceled or reduced accordingly. — The debt service fund for the Investment Bonds of 1964 shows a deferred tax levy of $1,125,400. This ta�c levy was set up in the bond resolution for payment of the �� total bond issue; no consideration was given to the d'eferred special assessments receivable. The collections by the City of deferred special assessments, as we11 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 both special assessments receivable and related bonds payable. It should be noted that pro- ^ spective interest receivable or payable becomes an actual asset or liability, respectively, strictly as a function of time. Prepayments of special assessments 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. Refunding bonds were sold by the City in 1964 for the advance payment of the re- maining bonds of three City bond issues. Proceeds were deposited with the escrow �' agent for payment when due. These issues in original amounts were: Improvement Bonds dated January 1, 1959 $ 270,000 ... Improvement Bonds dated December 15, 1959 505,000 Improvement Bonds of 1961, dated May 1, 1961 1,250,000 2.025.000 — At December 31, 1969, the above bonds were outstanding in the amount of $1,285,000. � 5 SPECIAL ASSESSMENT FUNDS (CONTINUED) , \ Account balances reported by the escrow agent at December 31, 1969 were as follows: Cash $ 22,652 Investment 1,114,594 -- $1,137,246 Bonds payable 1,090,000 Reserve for future interest and ca11 premium $ 47,�46 Special Improvements Revolving Fund - 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 re- ceivable. Money for these purposes has been provided mainly from balances in old inactive construction and debt service funds, water and sewer connection assessments "-' and improvement escrow deposits. GENERAL DEBT SERVICE FUNDS — These funds are being used for the accumulation of monies for payment of general obligation bonds and interest thereon. General property taxes and transfers from other City funds are providing the necessary revenue. In 1969, the Water No. 75 Improvement Bonds were transferred from the Special Assessment Debt Service Funds to the General Debt Ser�iee Funds. Deferred tax levies are set forth in the bond resolution for bond retirement and payment of interest; -"'� however, it is the intention of the City to cancel the tax levies annually on this bond issue and to provide the necessary monies from the Water and Sewer Revenue Bond Fund. MUNICIPAL BUILDING REVENUE BOND FUND (MUNICIPAL LIQUOR DISPENSARY) This fund was established to account for the operations and financing of the City-owned liquor stores. Shown below is a condensed summary of liquor store operations for 1969, 196� and 1967: — 1969 1968 1967 Percent Percnet Percent of sales of sales of sales _ Sales Off sale $1,126,316 76.9 $1,068,010 77.8 $ 993,950 77.0 On sale 337,917 23.1 304,945 22.2 296,869 23.0. Total sales $1,464,233 100.0 $1,372,955 100.0 $1,290,819 100.0 Cost of sales 946,949 64.7 903,044 65.8 852,767 66. 1 — Gross profit $ 517,284 35.3 $ 469,911 34.2 $ 438,052 33.9 Operating expenses 306,298 20.9 291,787 21.3. 269,642 20.9 Operating profit $ 210,986 14.4 $ 178,124 12.9 $ 168,410 13.0 � ^ Qther income and " expenses (net) 14,194 .9 13,167 1.0 9,959 .8 Net income ,� 225,180 15.3 $ 191.291 13.9 ,� 178.369 13•8 7 .^ MUNICIPAL BUILDING REVENUE BOND FUND (MUNICIAPL LIQUOR DISPENSARY) (CONTINUED) 1969 1968 1967 Percent of Percent of Percent of net income net income net income — Transfers to other City funds 180_000 79.9 ,� 160.000 83.6 180.832 101.4 _. Debt service accounts are being maintained in accordance with bond sale agreements. Of an original bond issue of $230,000 sold in 1956 and 1957 to be paid for from revenues of liquor stores, $36,000 was payable after December 31, 1969. — WATER AND SEWER REVENUE BOND FUND This fund accounts for the operations and f�nancing of the City-owned sewer and water systems. In 1956, revenue bonds were issued in the amount of $170,000 of which — $95,000 of these bonds were outstanding at December 31, 1969 and payable in fuiure years. Debt service accounts for this bond issue are being maintained in accordance with the provisions of the bond sales agreement. The agreement provides that net _, revenues of the water and sewer operations equal to the principal and interest maturi-. ties of the revenue bonds due in the following year be pledged as collateral. The financial statements include a liability of $160,015 representing amounts collected "' as sewer connection charges over the past several years. Since there is no longer a need for maintaining these deposits, these amounts will be refunded to the customers. —� Prior years financial statements inc.luded a liability of $213,175 to the North Suburban Sanitary Sewer District for connection charges to the N.S.S.S.D. system. In a legal action which N.S.S.S.D. brought against the City, t'he District Court ruled _ that the City was not obligated to pay these charges. N.S.S.S.D. appealed this matter to the Minnesota Supreme Court which appeal was dismissed in 1969 thereby releasing the City from liability. — 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 by deferred tax levies. Such fixed assets are carried as a part of _ General Fixed Assets. In 1969, the Fund assumed a $770,000 liability of the bonds payable along with future interest obligations of the Water No. 75 (General Debt Service) Fund, An interfund — receivable and payable is shown on the respective fund balance sheets. Included in interest expense of the Water and Sewer Fund is $25,448 representing the current years charges on this bond issue. On the other bond issues, the Water and Sewer — Revenue Bond 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 obliga- tion to do so. Therefore, the City considers such transfers as direct charges against _ retained earnings and not against income. TRUST AND AGENCY FUNDS Trust and agency funds are established to account for cash or oth�r assets held by — the municipality as a trustee or agent. The City funds of this nature include the Firemen' s Relief Association Fund, the Public Employees' Retirement Association Fund ^ and the Police Pension 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. LITIGATION — The City currently is a defendent in a $50,000 claim for an alledged breach of contract. Other pending litigation is �ither covered by insurance or involves a comdemnation claim. ., 8 .� CITY OF FRIDLEY, MINNESOTA � BALANCE SHEETS - ALL FUNDS � DECEMBER 31, 1969 General and Ci�ic �, Special Center Combined Revenue Bond ASSETS � Cash $ 36,145 $ 76,526 $5,638 Cash with fiscal agent 528,464 Investments, at cost plus accrued interest .-� City of Fridley temporary bonds 1,504,072 Other 3,340,851 582,999 Accounts receivable 328,977 178,407 Due from other funds 784,488 13,907 '" Ta4�es receivable 2,417,439 44,605 Special assessments receivable 6,607,068 1,741 Prepaid expense 1,880 -. Inventories, at cost 239,164 1,411 Fixed assets, at cost less accumulated depreciation 18,757,058 Amounts to be provided 1,086,533 190,197 ^ Total ass�ts 535.632.139 1.089.793 � �►ti•� LIABILITIES, RESERVES AND FUND BALANCE Accounts and contracts payable $ 691,130 $ 293,193 $1,101 .., Due to other funds 784,488 Deposits payable 219,179 716 Bonded indebtedness - Future maturities .� DefinitiVe bonds Principal $,109,000 Interest 1,816,436 Certificates of indebtedness ^ Principal 15,000 15,000 Interest 1,612 1,612 Temporary bonds (held by City of Fridley) �, Principal 1,480,000 Interest 161,825 Reserves 2,736,843 52,581 �3nenc��heresi apgrogriatian halances �,971 4,537 �' Investment in general fixed assets 16,802,011 Retained earnings 1,769,454 Fund balance 1,038,190 726,691 -■ Total liabilities, reserves and fund balance ,�35.632.139 51.089.793 ,�� .� ^ Note - Assets in the total amount of $225,514 are restricted in the Liquor and Utilities '^ funds as detailed on Pages 31 and 37. •�, 9 _� _ General Water and Trust In�estment Special Debt Municipal Sewer and General Fund Assessment Service Liquor Utilities A ene Fixed Assets $(32,386) $( 322,054) $ 48,949 $ 70,951 $ 171,167 $17,354 511,824 16,640 ^ 1,504,072 32,386 1,821,222 181,000 140,816 582,428 11,264 139,306 -' 770,581 1,664,324 703,569 4,941 6,605,327 _. 1,880 237,753 221,958 1,733,089 $16,802,011 _ � 758.494 112.565 25,277 $ -0- 12.554.473 1.833.304 567� 2.625.990 47.572 16_802.011 "/-•\ _ $ 145,767 $ 1,760 $ 206,678 $42,631 13,907 770,581 15,825 202,638 6,583,000 $1,395,000 36,000 95,000 1,378,132 438,304 - 1,48O,OD0 161,825 2,475,991 45,194 158,136 4,941 - � 2,434 $16,802,011 576,497 1,192,957 _ 311,499 � 12.554.473 S1_833.304 SG7� S2.625.990 $47�572 516�802.011 � � 10 .� CITY OF FRIDLEY, MINNESOTA � GENERAL AND SPECIAL REVENUE FUNDS BALANCE SHEETS -' DECEMBER 31, 1969 .., Municipal 1969 Park ^, Combined General State Aid Flood Capital ASS ETS ., Cash $ 76,526 $ ( 5,507) $ 106,919 $ (58,465) $33,579 Investments, at cost plus accrued interest 582,999 409,999 173,000 Accounts receivable "" State of Minnesota 58,070 42,885 15,185 Other 120,337 4,955 115,382 Due from other funds 13,907 13,907 ^ Delinquent taxes receivable 44,605 44,bQ5 Delinquent special assessments receivable 1,74 1 1,741 �, Prepaid expense 1,411 1,411 Amount to be provided for Land and buildings 153,044 153,044 Equipment 37,153 37,153 �r� Total assets $1.089.793 � ,�� ,�� . LIABILITIES, RESERVES AND FUND BALANCE � Accounts and contracts payable $ 293,193 $286,844 $ 6,349 Deposits payable 716 716 Certificates o£ indebtedness Principal 15,000 15,000 "` Interest 1,612 1,612 Reserves for Uncollected taxes and special .., assessments 46,346 46,346 Encumbrances 6,235 6,235 Fund balance 726,691 353,675 295 104 44,333 $33,5J9 � Total liabilities, reserves and fund balance }..089.79 704.193 ,�� ?�� , /'1 � 11 ^ CITY OF FRIDLEY, MINNESOTA � � GENERAL FUND - STATEMENT OF REVENUE - ACTUAL COMPARED WITFi BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1969 Budget Actual estimates General property and other taxes Current ad va�orem $ 707,432 $ 701,344 - Delinquent ad valorem 13,140 12,000 � 720,572 $ 713,344 _, Licenses and permits Business regulatory licenses $ 14,856 $ 14,674 Nonbusiness licenses and permits 75,385 74,735 _ $ 90,241 � 89,409 Fines and forfeitures - Municipal Court $ 19,035 $ 10,000 - Revenue from use of money and property Interest earned $ 21,399 $ 8,000 Rents 8,176 12,400 _� $ 29,575 % $ 20,400 Revenue from other agencies Shared State taxes "-' Cigarette and liquor $ 89,990 $ 86,000 Mobile home registration fee 14,780 12,500 Per capita apportionment 131,629 131,629 - Gasoline tax 18,945 18,400 Mortgage registry 8,436 8,000 $ 263,780 $ 256,529 ' ^ Charges for current services General Government $ 4,991 $ 12,220 Public Safety 2,165 1,800 ^ Conservation of Health 8,421 20,600 Recreation 9,380 9,510 $ 24,957 $ 44,130 Other revenue S� 10,203 $ 20,332 Transfers fronr other funds - Municipal Liquor Operating Fund $ 180,000 $ 180,000 Municipal State Aid Fund - Seal coating 27,000 27,000 Other transfers 5,123 �- $ 212,123 $ 207,000 /'1 Prior years fund balance $ 30,865 �. Total revenue 51.370.486 1.392.009 .� 12 � CITY OF FRIDLEY, �IINI�IESOTA � GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES � YEAR ENDED DECEMBER 31, 1969 ., Budget Actual estimate .., General Government Mayor and Council Personal services $ 12,935 $ 13,200 ^ Contractual serv�ces 3,627 5,250 Commodities 1,026 2,020 Other charges 3,157 1,900 ^ Capital outlay 600 $ 20,745 $ 22,970 ^ Manager Personal services $ 30,503 $ 30,750 Contractual services 4,184 5,190 Commodities 1,640 725 '" Other charges 126 270 Capital outlay 827 670 $ 37,280 $ 37,605 �-^ Elections and Voters' Registration Personal services $ 6,093 $ 5,500 ... Contractual services 321 255 Commodities 1,039 900 Other charges 55 3 546 , Capital outlay 3,814 "' $ 11,322 $ 10,201 Finance ... Clerk-Treasurer Personal services $ 25,267 $ 28,206 Contractual services 4,379 3,585 Commodities 3,214 4,600 �" Other charges 4,955 4,030 Capitai outlay 2,505 1,205 Refunds 150 50 ^ Assessor � Personal services 32,481 35,386 Contractual services 1,943 2,005 ... Commodities 505 985 Other charges 444 530 CapitaL outlay 890 117 Independent auditing and accounting 4,500 5,775 ^ $ 81,233 $ 86,474 ^ .� 13 CITY OF FRIDLEY, MINNESOTA '"� GENERAL FUND "' STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1969 Budget _, Actual estimate General Government (continued) Legal -- Personal services $ 16,875 $ 17,800 Contractual services 352 Commodities 96 — $ 17,323 $ 17,800 Administrative Offices Charter Commission — Personal services $ 400 Contractual services 600 Industriat Development Commission — Personal services $ 75 150 Contractual services 1,549 1,700 Commodities 9 150 _� Civi1 Service Personal services 149 75 Contractual services 214 250 Board of Appeals " Personal services 826 1,500 Contractual services 416 350 Commodities 127 100 — $ 3,365 $ 5,275 Planning and Zoning ^ Personal services $ 16,147 $ 20,416 Contractual services 803 700 � Commodities 1,176 700 Capital outlay 1,660 750 '- $ 19,786 $ 22,566 General Government Buildings _, Personal services $ 10,946 $ 9,950 Contractual services 22,356 24,652 Commodities 1,282 912 Other charges 9,651 20,260 '-' Capital outlay 11,814 2,956 $ 56,049 58 730 -- Total �eneral Government $247,103 $261,621 ^ ... 14 �, CITY OF FRIDLEY, MINNESOTA /1 GENER9L FiJND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) ^ YEAR ENDED DECEMBER 31, 1969 ., Budget Actual estimate �, Public Safety Police Protection Personal services $245,023 $250,J41 � Contractual services 15,043 9,500 Commodities 13,862 15,350 Other charges 8,681 4,806 - Capital outlay 16,830 19,110 $299,439 $299,507 .. Fire Protection Personal services $ 66,596 $ 72,376 Contractual services 14,175 13,278 Commodities 7,459 6,382 "' Other charges 4,860 4,475 Capital outlay 7,113 10,645 $100,203 $107,156 /�� Protective Inspection Personal services $ 41,218 $ 50,902 ^ \ .,� � Contractual services 10,610 10,200 �' -:f Gommodities 1,331 1,000 Other charges 945 750 Capital outlay 520 1,375 " $ 54,624 $ 64,227 Civil Defense �, Personal services $ 8,009 $ 7,920 Contractual services 480 2,150 Commodities 105 715 Other charges 154 180 � Capital outlay 25,244 25,244 $ 33,992 $ 36,209 -, Animal Control Contractual services $ 3,600 $ 4,500 Commodities 125 .� $ 3,600 $ 4,625 Total Public Safety $491,858 $511,724 � /'\ ^ � 15 CITY OF F.RIDLEY, MINNESOTA � GENERAL FUND - STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1969 Budget Actual estimate Highways Engineering " Personal services $ 36,029 $ 40,789 Contractual services 4,230 4,600 Commodities 3,005 3,100 - Other charges 1,434 1,150 Capital outlay 4,920 925 49 618 50 564 Street and Alley Personal services $ 74,708 $ 89,759 Contractual services 13,166 9,300 - Commodities 19,316 20,800 Other charges 21,104 35,650 Capital outlay 26,880 19,300 _� 155 174 $174,809 Snow and Ice Removal Personal services $ 18,164 $ 18,078 - Contractual services 11,601 2,100 Commodities 7,708 4,350 Other charges 4,585 1,100 - Capital outlay 2,433 1,850 $ 44,491 $ 27,478 _ Traffic Signs, Signals and Markings Personal services $ 67 $ 5,386 Contractual services 6,948 4,250 Commodities 3,034 3,000 " Other charges 77 100 Capital outlay 24,829 33,300 34 955 46 036 Equipment Maintenance Personal services $ 2,633 $ 1,330 _ Contractual services 4,792 6,200 Commodities 2,778 2,300 Other charges 589 1,200 Capital outlay 8,102 7,500 - 18 894 $ 18,530 ^ Street Lighting - Contractual services 32 027 32 056 Total Highways $335,159 349 473 ., 16 �, CITY OF FRIDLEY, MINNESOTA � GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINt3ED) '^ YEAR ENDED DECEMBER 31, I969 �, Budget Actual estimate ,� Sanitation and Waste Removal Storm Sewers Personal services $ 3,702 $ 3,928 '"' Contractual services 2,875 2,600 Commodities 1,923 1,200 Other charges 1,096 700 -� Capital outlay 260 $ 9,856 8 428 � Weed Eradication � Personal services $ 3,741 $ 4,500 � ;� Contractual services 16,021 21,175 � Couunodities 163 250 ^ Gapital outlay 79 $ 20,004 $ 25,925 ^�, Total Sanitation and Waste Removal $ 29,860 $ 34,353 Conservation of Hea1Ch �,�r o Personal services $ 4,911 $ 4,392 � �'' Contractual services 924 1,250 Co�odities 63 Total Conservation of Health $ 5,898 5 642 ^ City Band Personal services $ 950 $ 950 .^ Commodities 566 650 Total City Band . $ 1 516 1 600 � $ � Recreation � Personal services $ 42,796 $ 44,969 Contractual services 2,241 1,850 Commodities and capital outlay 9,390 11,150 �+ Other charges 1,386 1,400 Total Recreation 55 813 $ 59,369 -, Municipal Parks Personal services $ 67,975 $ 71,062 Contractual services 19,174 17,550 Commodities 16,697 8,050 '"' Other charges 10,446 8,245 Capital outlay 26,755 37,720 � Tota1 Municipal Parks $141,047 $142,627 -� Reserve for contingencies 15 600 ..� 17 '-' CITY OF FRIDLEY, MINNESOTA � � GENERAL FUND — STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1969 Budget Actual estimate Hospitalization insurance $ ; 12,456 �, 10,000 — Total expenditures $1_320.710 51.392.009 _, Fund balance January 1, 1969 $ 303,899 $ 273,034 Revenue over (under) expenditures 49,776 -0- '- Fund balance December 31, 1969 S 353.675 273.034 _� � ... 18 .. CITY OF FRIDLEY, MINNESOTA � SPECIAL REVENUE FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS ^ YEAR ENDED DECEMBER 31, 1969 .� Municipal Flood and 1969 Park Combined State Aid Tornado Flood Capital ^ Cash balance, January 1, I969 227 $ 161 66 $ _0_ $ -0- Receipts ^ State aid construction apportionment $133,695 $133,695 Interest on investments. 7,881 7,232 $ 270 $ 379 Investments matured (at cost) 165,630 154,837 10,793 •- State grant for park land �;cquisition 35,750 35,750 Transfers from other funds 1968 Street Construction Fund 122,509 122,509 1967 Special Assessment Debt Ser�ice Fund 37,873 37,873 Total receipts 503 338 $456,146 11 063 36 129 '"' Disbursements Costs incurred as a result of flood $ 58,465 $ 58,465 ^- Refund to State of Minnesota 11,129 $11,129 Purchase of investments 173,A00 173,000 Capital outlay 2,550 $ 2,550 � Transfers to other funds General Fund - Seal coating appropriation 27,000 27,000 1968 Street Construction Fund 73,173 73,173 �" 1969 Street Construction Fund 60,522 60,522 1968 Street Debt Service Fund 15,693 15,693 � Total disbursements 421 532 $349,388 11 129 58 465 $ 2,550 Cash balance, December 31, 1969 82.033 � $ _0_ f5 .465) 33.5 � � .. � ^ � �. 19 � CITY OF FRIDLEY, MINNESOTA � CIVIC CENTER BOND FUND ^- BALANCE SHEET DECEMBER 31, 1969 ASSET Cash 5.638 LIABILITY AND APPROPRIATION BALANCE Contract payable $ 1 l01 Unencumbered appropriation balance 4,537 Total liability and appropriation balance ,�� _� ANALYSIS OF CHANGES IN 'UNENCUMBERED APPROPRIATION BALANCE YEAR ENDED DECEMBER 31, 1969 Balance, January 1, 1969 4 781 '-" Addition - Interest on investments $ 557 Deduction - Professional services gpl� -- Balance, December 31, 1969 4. 3 �\ 21 CITY OF FRIDLEY, MINNESOTA ''� INVESTMENT FUND '-' BALANCE SHEET DECEMBER 31, 1969 ASSETS Cash $( 32,386) Accrued interest receivable 32,386 _ Total assets $ _p_ STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS '"' YEAR ENDED DECEMBER 31, 1969 _,� Cash balance, January 1, 1969 $ _p_ Receipts - Transfers from other City funds �52,383,431 '-' Disbursements - Distribution of investments and interest income to other �City funds $2,415,817 — Cash balance, December 31, 1969 S( 32.386) � 22 ^ CITY OF FRIDLEY, MINNESOTA � SPECIAL ASSESSMENT FUNDS BALANCE SHEETS � DECEMBER 31, 1969 .. Special Special Special Assessment Assessment Improvements Combined Construction Debt Sexvice Revolving ^ ASSETS Cash $� 322,054) $ 73,198 $( 353,964) $( 41,288) ., Cash with fiscal agents 511,824 511,824 Investments, at cost plus accrued interest City of Fridley temporary bonds 1,504,072 1,504,072 Other 1,821,222 1,690,222 131,000 Accounts receivable 11,264 11,264 Taxes receivable ^ Delinquent 1,624 1,624 ` Deferred 1,662,700 1,662,700 Special assessments receivable �.. Delinquent 763,940 744,043 19,897 Deferred Principal 4,251,774 4,032,549 219,225 Interest 1,589,613 1,589,613 �`�" Amounts to be provided for Construction 352,789 352,789 Debt retirement 405,705 405,705 ^ Total assets ,�12.554.473 $ 437,251 $11.788.388 ,� 328i834 ^ LIABILITIES, RESERVES, APPROPRIATIONS AND FUND BALANCE Accounts and contracts payable $ 145,767 $ 144,257 $ 1,510 �' Deposits payable 15,825 15,$25 Bonded indebtedness - Future maturities Definitive bonds .�. Principal 6,583,000 $ 6,583,000 Interest 1,378,132 1,378,132 Temporary bonds (held by City ^ of Fridley) Principal 1,480,000 1,480,000 Interest 1fi1,825 161,825 Reserves for ^ Encumbrances 290,560 290,560 Debt retirement 2,185,431 2,185,431 Unencumbered appropriation balances 2,434 2,434 .,. Fund balance 311,499 311,499 Total liabilities, reserves, ^ appropriations and —. fund balance �12,554.473 S 437.251 ,�11,78$,,388 S 328�834 � 23 ^ CITY OF FRIDLEY, MINNESOTA � SPECIAL ASSESSMENT FUNDS ' -, STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1969 Special Special Special _ Assessment Assessment Improvements Combined Construction Debt Service Revolving Cash balance, January 1, 1969 $ 22,691 $ 6,433 $ 14,591 $ 1,667 Receipts Proceeds from sale of temporary _,,, bonds $ 445,000 $ 445,000 Special assessments 1,157,986 $1,085,610 $ 72,376 General propertg taxes 776 77( Interest on investments 224,676 33,629 183,891 7,156 "�' Other governmental units 77,544 77,544 Investments sold 2,562,806 508,354 1,959,909 94,543 Transfers from other funds 597,4$4 306,890 290,594 Total receipts $5,066,272 $1,371,417 �3,520,780 $ 174,075 _� Disbursements Capital outlay ^ Transfers to other funds Interest during construction $ 4,213 $ 4,213 Reimbursement of costs 161,940 161,940 ._ Other 933,289 933,289 $1,099,442 $1,099,442 Retirement of bonds � Principal $ 929,000 $ 929,000 Interest 324,085 324,085 Investments purchased 2,838,859 $ 134,000 2,573,859 $ 131,000 -- Transfers to other funds 194,782 71,210 49,334 74,238 Other disbursements 24,849 13,057 11,792 ,_ Total disbursements $5,411,017 $1,304,652 �3,889,335 $ 217,030 Cash balance, December 31, 1969 �( 322.054) S 73.198 l 353.9 ) ( 41.288) � .� 24 CITY OF FRIDLEY, MINNESOTA � SPECIAL ASSESSMENT CONSTRUCTION FUNDS .� BALANCE SHEETS DECEMBER 31, 1969 ASSETS �, Amount Accounts to be receivable - provided for Total Cash Other Construction assets ^ Sewer and Water No. 50 $ 7,839 $ 7,839 .� Storm Sewer No. 82 13,837 13,837 Sewer and Water No. 84 2,470 2,470 Sewer and Water No. 87 1,280 1,280 Sewer and Water No. 88 1,826 1,826 "" Storm Sewer No. 89 163 $ 100 263 Sewer and Water No. 90 18,931 2,577 21,508 Sewer and Water No. 91 (13,021) 13,021 -0- .�. Sewer and Water No. 92 776 776 Sewer and Water No. 93 ( 8,148) 253,112 244,964 1966 Street 7,159 7,159 ^ 1967 Street 5,409 5,409 � 1968 Street 47,463 $ 11,264 58,727 1969 Street 22,582 48,611 71,193 1970 Street 35 368) 35,368 -0- ^ Combined ,�'��$ .� 2 � 352.7 Si[E37„�51 �.. � �, �, ^ .� ^ ... .� 25 "� LIABILITIES, RESERVES AND APPROPRIATIONS Accounts Total and Reserve Unencumbered liabilities contracts for appropriation reserves and — payable encumbrances balance appropriations $ 7,608 $ 231 $ 7,839 " 12,965 872 13,837 1,882 588 2,470 537 743 1,280 — 1,826 1,826 263 263 21,508 21,508 776 � 776 15,883 $229,081 244,964 7,159 7,159 "''� 5,409 5,409 58,727 58,727 9,714 61,479 71,193 ,�� 290.560 ,� 2�� 437 25 � .� 26 � CITY OF FRIDLEX, MINNESOTA � SPECIAL ASSESSMENT DEBT SERVICE FUNDS BALANCE SHEETS � DECEMBER 31, 1969 � Regular ^ Special Combined Assessment ASSETS �" Cash $( 353,964) $( 2,213) Cash with fiscal agent 511,824 — Investments, at cost plus accrued interest City of Fridley temporary bonds 1,504,072 1,137,510 Other 1,690,222 105,000 �, Taxes receivable Delinquent 1,624 Deferred 1,662,700 Special assessments receivable "' Delinquent 744,043 89,486 Deferred Principal 4,032,549 380,657 �.-• Interest 1,589,613 68,224 Amount to be provided for debt retirement 405,705 .� Total assets 11.788.388 1.778.664 LIABILITIES AND RESERVE ^ Bonded indebtedness - Future maturities Definitive bonds � Principal $ 6,583,000 $ 993,000 Interest 1,378,132 140,262 Temporary bonds (held by City of Fridley) Principal 1,480,000 � Interest 161,825 Reserve for debt retirement 2,185,431 645,402 �, Total liabilities and reserve $�1.788,388 ,�1.778,664 � ., /'\ -, .., 27 � Storm Sewer, Storm Sewer, Sewer Storm Sewer Storm Sewer Storm '" and Water Sewer and Water Sewer and Water Sewer 1967 No. 48 No. 82 No. 84 No. 87 No. 88 No. 89 Street $( 329) $ 4,767 $ 5,614 $ 3,967 $ 25,762 $( 7,322) $( 4,982) _, 129,635 30,249 93,000 12,300 78,073 2,698 1,9I4 6,669 5,196 3,991 231,309 99,109 96,486 44,560 198,382 22,774 110,339 � 84,153 59,473 57,850 27,249 119,030 18,431 33,107 '_ �� _�� - $470,000 37,925 - $110,000 $100,000 $ 55,000 $225,000 $ 15,Q00 $105,000 5,750 5,000 3,250 17,500 3,150 2,625 150,465 50,297 56,864 24,195 105,870 15,733 34,830 �� 1�4�Z �1�1�4 � 2.4 E5 � � � 33.8$ ,�� 28 � CITY OF FRIDLEY, MINNESOTA � SPECIAL ASSESSMENT DEBT SERVICE FUNDS (CONTINUED) BAZANCE SHEETS � DECEMBER 31, 1969 � Storm .., Sewer 1968 1969 No. . 92 Street Street ASSETS � Cash $ 13,193 $ 52,070 Cash with fiscal agent — Investments, at cost plus accrued interest City of Fridley temporary bonds Other 78,081 Taxes receivable Delinquent Deferred Special assessments receivable "' Delinquent 56 11,795 Deferred Principal 17,480 375,983 �... Interest 14,150 180,715 Amount to be provided for debt retirement $393,250 Total assets 44.879 � �:�9�- ? ^ LIABILITIES AND RESERVE "' Bonded indebtedness - Future maturities Definitive bonds ... Principal Interest Temporary bonds (held by Gity of Fridley) Principal $ 30,000 $515,000 $325,000 � Interest 6,300 50,000 68,250 Reserve for debt retirement 8,579 133,644 � Total liabilities and reserve � ��z� ?�� . � � ... 29 � Improve- Improve- Improve- Improve- Improve- Improve- ment ment ment ment ment ment Bonds of Bonds of Bonds of Bonds of Bonds of Bonds of 1960 1962 1963 1965 1967 1964 $( 209,021) $ 155 $( 95,959) $ 588 $( 183,191) $ 42,937 _ 101,077 96,127 184,985 336,313 256,050 67,000 269,123 203,000 392,913 226,055 1,624 525,000 1,125,400 86,404 22,644 100,065 120,982 104,352 109,718 499,125 47,285 130,110 270,531 1,207,677 300,742 � 205,105 18,438 19,763 120,813 464,602 98,510 ' 12,455 - 1.287.508 1 . 22 51.044.229 715.914 S2.171.338 $1.904.986 $1,015,000 $ 90,000 $ 620,000 $515,000 $1,640,000 $1,240,000 272,508 21,085 134,042 131,560 443,055 197,695 44,437 290,18Z 69,354 88,283 467,291 �1.287.508 155.522 51.044.229 715.914 Ss2�171.338 51.904.986 � ., 30 CITY OF FRIDLEY, MINNESOTA �" � GENERAL DEBT SERVICE FUNDS � BALANCE SHEETS - DECEMBER 31, 1969 -� Civic .� Park Bonds Center of 1962 Bonds Water Combined and 1963 of 1965 No. 75 ASSETS '"' Cash $ 48,949 $ 27,244 $ 21,408 $ 297 Cash with fiscal agent 16,640 16,640 Investments at cost plus accrued interest 181,000 181,000 � Taxes receivable Delinquent 5,069 2,827 2,242 Deferred 698,500 117,500 581,000 -^ Due from Water and Sewer Revenue Bond Fund 770,581 770,581 Amount to be provided for debt retirement 112,565 20,309 10,787 81,469 Total assets ,�1.833�304 ,S. 184,520 � 1.033.347 " LIABILITIES AND RESERVES Liabilities - Bonded indebtedness Future maturities Bonds $1,395,000 $ 170,000 $465,000 $ 760,000 Interest 438,304 14,520 150,437 273,347 � Total liabilities and reserves S1.833.304 ,� 184.520 ,�� 1.033.347 �. STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1969 Cash balance, January 1, 1969 $ 1,122 $ 456 $ 240 $ 426 Receipts .. Current property taxes $ 72,940 $ 36,570 $ 36,370 Delinquent property taxes 1,522 1,019 503 Interest on investments 11,567 520 741 $ 10,306 Investment maturities, at cost 200,509 24,769 19,584 156,156 Transfer from Water and Sewer Revenue Bond Fund 50,361 50z361 Total receipts $ 336,899 $ 62,878 $ 57,198 $ 216,823 - Disbursements Investment purchases $ 181,000 $ 181,000 "' Bonds 60,000 $ 30,000 $ 20,000 10,000 Interest 47,895 6,055 15,965 25,875 Fiscal agent service charge 177 35 65 77 � Total disbursements $ 289,072 $ 36,090 $ 36,030 $ 216,952 ^ Cash balance, December 31, 1969 ,� 48}949 ,$ 27.244 � $ 297 -- �' 31 — CITY OF FRIDLEY, MINNESOTA " � MUNICIPAL BUILDING REVENUE BOND FUND _, (MUNICIPAL LIQUOR DISPENSARY) BALANCE SHEET DECEMBER 31, 1969 ASSETS Current assets '" Cash $ 55,255 Investments, at cost plus accrued interest 111,318 Inventories, at cost 237 753 -- Prepaid insurance 1,880 Total current assets 406 206 _ Restricted assets - Municipal Bu.ilding Revenue Bond Accounts Sinking Account - Cash $ 10,339 Reserve Account Cash $ 5,357 " Investments 29,498 34,855 Total restricted assets 45 194 _. Property, plant and equipment, substantially all at cost Land and improvements $ 40,155 Buildings 198 418 � _^ Furniture, fixtures and equipment 118,591 Truck 2�222 $359,386 Less accumulated depreciation 137,428 " Net property, plant and equipment 221 958 Net assets 673.35g ZIABILITIES, RESERVE AND FUND BALANCE — Current liabilities Accounts payable General Fund $ 13,907 — Other 1,760 Bonds payable within one year* 18,000 $ 33,667 _, Long-term liabilities - Bonds payable less portion due within one year 18,000 Total liabilities 51 667 Reserves " Reserve for Sinking Account debt service $ 10,339 Reserve for Reserve Account 34,855 Total reserves 45 194 Retained earnings 576 497 � _ Total liabilities, reserve and fund balance ,�� Note - Under terms of bond sale agreements, net revenues of the liquor operations equal to the principal and interest maturities of Municipal Building Revenue Bonds '- during the following year are pledged as collateral. * Payable from restricted assets .� 32 � CITY OF FRIDLEY, MINNESOTA ^ MUNICIPAL BUILDING REVENUE BOND FUND _. LIQUOR OPERATING ACCOUNT STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 1969 .� On Sale Stores �. Tdtal . No. 22 No. 33 Sales $1,464,233 $146,995 $190,922 �, Cost of sales 946,949 44,454 58,906 Gross profit $ 517,284 $102,541 $132,016 ^ Percent of sales 35.3 69.7 69.1 Operating expenses $ 306,298 $ 70,390 $ 97,650 �, Percent of sales 20.9 47.9 51.1 Operating profit $ 210,986 $ 32,151 $ 34,366 Percent of sales 14.4 21.8 18.0 '�' Other income $ 16,573 $ 4,928 $ 3,846 (Interest expense) (2,379) 1 586) /'�— $ 14,194 $ 4,928 $ 2,260 Percent .of sales ..9 3.3 1.2 �, Net income $ 225,180 $ 37,079 $ 36,626 Percent of sales 15.3 � 19.2 � ANALYSIS OF CHANGES IN RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1969 .� Retained earnings ^ January l, 1969 $536,402 Net income 225,180 � Transfer to General Fund (180,000) Transfer to Sinking Account 5 085) Retained earnings � December 31, 1969 � �, . ^ 33 � Off Sale Stores '� No. 1 No. 2 No. 3 No. 4 $150,170 $314,741 $242,211 $419,194 111,553 236,527 18Q,070 315,439 ^, $ 38,617 $ 78,214 $ 62,141 $103,755 25.7 13.7 25.6 24.7 $ 28,303 $ 36,002 $ 31,043 $ 42,910 ^ 18.8 6.3 12,8 10.2 �� $ 10,314 $ 42,212 $ 31,098 $ 60,845 ^ 6.9 7.4 12.8 14.5 $ 792 $ 2,280 $ 1,650 $ 3,077 —� 793) $ 792 $ 2,280 $ 857 $ 3,077 .5 ,4 .3 ,7 — $ 11,106 $ 44,492 $ 31,955 $ 63,922 � � �. 1� � .� 34 ., CITY OF FRIDLEY, MINNESOTA -- � MUNICIPAL BUIZDING REVENUE BOND FUND LIQUOR .OPERATING ACCOUNT ^ STATEMENT OF OPERATING EXPENSES YEAR ENDED DECEMBER 31, 1969 .� On Sale Stores .., Total No. 22 No. 33 Salaries and wages $209,887 $ 51,989 $ 71,527 Employee benefits 13,556 3,246 5,250 � Supplies 8,224 967 2,364 Lau�dry and cleaning 4,502 1,408 1,493 Rent 10,190 -� Utilities 13,434 2,471 3,842 Repairs and maintenance 9,568 2,591 3,602 Insurance 14,287 2,059 2,751 �, Depreciation 14,572 3,385 4,575 Mileage and automobile expense 1,222 421 421 Protessional fees 1,002 167 167 Alarm service 2,871 559 731 '"' Cash (over) short 334 56 129 Uncollectible checks 2,092 988 703 Miscellaneous 557 83 95 /�— � �� .. �, �. .-� �.. .-. .� /'� --, � 35 '"� _ Off Sale Stores _. No. 1 No. 2 No. 3 No. 4 $ 15,333 $ 26,263 $ 21,295 $ 23,480 — 910 1,563 1,241 1,346 642 1,215 1,526 1,510 559 265 129 648 _ 4,064 6,126 2,000 1,114 1,400 2,607 353 1,272 1,005 745 1,626 2,625 2,343 2,883 ^ 1,854 1,122 1,416 2,220 88 92 92 108 167 167 167 167 — 468 280 365 468 37 ( 72) ( 31) 215 113 _ 288 _,� 89 96 95 99 .�� 2 �.�.�. S 4� � � 36 .� CITY OF FRIDLEY, MINNESOTA /"` MUNICIPAL BUILDING REVENUE BOND FUND STATEMENT OF CHANGES IN ASSETS RESTRICTED FOR LIQUOR REVENUE BOND DEBT SERVICE ^ YEAR ENDED DECEMBER 31, 1969 .� Sinking Reserve ^ Gombined Account Account I Cash balance, January 1, 1969 $ 17 803) $ 5,254 $ 23 057) � Receipts Transfer from Operating Account $ 25,464 $ 25,464 Interest on investments 1,814 $ 1,814 — Investments sold 56,053 56,053 Total receipts $ 83,331 $ 25,464 $ 57,867 .� Disbursements Bonds $ 18,000 $ 18,000 Interest 2,344 2,344 Fiscal agents service charge 35 35 �" Purchase of investments 29,453 $ 29,453 Total disbursements $ 49,832 20 3?9 $ 29,453 ^�, Cash balance, December 31, 1969 $ 15,696 $ 10,339 $ 5,357 Investment balance, January 1, 1969 $ 56,383 $ 36,383 � Additions 29,498 29,498 Deductions 5( 6,383) 5( 6,383) �, Investment balance, December 31, 1969 $ 29,498 29 498 Total restricted assets, December 31, 1969 � � � ^ .� ., � ., ^ _, •� 37 ^ CITY OF FRIDLEY, MINNESOTA � WATER AND SEWER REVENUE BOND FUND "' BALANCE SHEET DECEMBER 31, 1969 — ASSETS Current assets _ Cash $ 191,709 Investments, at cost plus accrued interest 448,428 Accounts receivable 139,123 Tofal current assets $ 779,260 Restricted assets - Revenue Bond Accounts Sinking Account - Cash _. Reserve Account - Cash $ 8,576 21,170 Construction Account Cash $(50,28$) Investments 134,000 — Accounts receivable 183 Construction in progress 66,679 150,574 Total restricted assets $ 180,320 Property, plant and equipment, substantially all at cost* Land and improvements $ 102,093 Buildings 539,127 '-� Meters 204,487 Machinery and equipment 1,255,063 $2,100,770 _ Less accumulated depreciation 434,360 Net property, plant and equipment $1,666,410 _ Total assets 2.62 . 0 LIABILITIES, RESERVE AND FUND BALANCE Current liabilities Accounts payable from restricted assets (Construction Account) $ 22,184 Accounts payable - Other 184,494 Bonds payable within one year** 10,000 " Total current liabilities $ 216,678 Other liabilities Bonds payable less portion due within one year 85,000 _ Meter deposits payable 202,638 Due to General Debt Service Fund, Water No. 75 770,581 Total liabilities $1,274,897 Reserves Reserve for Construction Account $ 128,390 Reserve for sinking Account debt service 8,576 �- Reserve for Reserve Account 21,170 Total reserves $ 158,136 � ^ Retained earnings $1,192,957 Total liabilities, reserve and fund balance 2.625.99 _. * See Com4nents, Page �:7. - ** Payable from restricted assets ., 38 .. CITY OF FRIDLEY, MINNESOTA , /'� WATER AND SEWER UTILiTIES REVENUE BOND FUND OPERATION AND MAINTEN9NCE ACCOUNT � STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 1969 �.. Combined Water Sewer ... Operating revenue Water sales and sewer rents $605,965 $349,036 $256,929 ' Connection permits 31,819 1,950 29,869 " Sales of materials and miscellaneous services 2,776 2,776 Total operating revenue $640,560 353 762 $286,798 ... Operating expenses Source of supply $120,799 $ 37,799 $ 83,000 � Power and pumping 47,747 47,747 Purification 30,334 30,334 Transmission and distribution 123,100 53,856 69,244 Customer accounting and collecting 25,818 17,153 8,665 "' Administrative and general 19,006 8,146 10,860 Depreciation'� 80,412 77,676 2,736 Total operating expenses $447,216 $272,711 $174,505 ^.�. Operating income $193,344 $ 81,051 $112,293 �, Other income and (expense) Interest income 31,961 Interest expense 30 102) � Net income 95 �, ANALYSIS OF CHANGES IN RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1969 .� Retained earnings, January 1, 1969 $1,647,391 � Net income 195,203 Transfer of fixed assets from completed special assessment funds 15,836 ^ Adjustment of prior years accounts payable to NSSSD 216,342 Adjustment - Amount due General Debt Service Fund Water No. 75 for debt retirement (770,581) Transfers to other funds (111,234) ^ Retained earnings, December 31, 1969 51.192_957 ^ _, .� 39 ^ CITY OF FRIDLEY, MINNESOTA � WATER AND SEWER REVENUE BOND FUND — STATEMENT OF CHANGES IN ASSETS RESTRICTED FOR REVENUE BOND DEBT SERVICE YEAR ENDED DECEMBER 31, 1969 Sinking Reserve Construction Combined Account Account Account Cash balance, January 1, 1969 $ 2 187) $ 8,550 $ 10 737) $ -0- — Receipts Transfer from Operation and Maintenance Account $ 14,725 $ 14,725 _ Interest on investments 1,247 52 $ 1,195 Transfer from Water No. 75 Construction Fund 16,391 $ 16,391 Investments sold 30,712 30,712 "-' Tota1 receipts $ 63,075 $ 14,777 $ 31,907 $ 16,391 Disbursements — Bonds $ 10,000 $ 10,000 Interest 4,726 4,726 Fiscal agents service charge 25 25 _^ Transfer to Special Assessment Debt Service Funds 66,679 $ 66,679 Total disbursements $ 81,430 $ 14,751 $ 66,679 �' Cash balance, December 31, 1969 ,�S?-�) 8•57 2�Q f50.28g) Investment balance, January 1, 1969 $ 30,940 $ 30,940 Additions 134,000 $134,000 Deductions 30 940) 30 940) — Investment balance, December 31, 1969 �t $ _0_ 5134�000 � 40 � CITY OF FRIDLEY, MINNESOTA � TRUST AND AGENCY FUNDS �. BALANCE SHEETS - DECEMBER 31, 1969 Public ^ Firemen' s Employees' Relief Retirement Police Association Association Pension .., Combined Fund Fund Fund ASSETS Cash $ 17,354 $ 17,354 ^ Delinquent taxes receivable 4,941 $ 1,282 2,643 $ 1,016 To be provided by future revenues 25,277 25,277 ... Total assets �/� � 1.282 � � LIABILITY AND RESERVE �" Account payable PubLic Employees' Retirement — Association $ 42,631 $ 42,631 Reserve for uncollected taxes 4,941 $ 1,282 2,643 1 016 Total liability and reserve � 1.282 45.274 1.016 �� STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1969 � Cash balance January l, 1969 606 606 Receipts General property taxes $ 97,695 $ 19,463 $ 58,940 $ 19,292 �'" Insurance premium tax 11,796 11,796 Investments sold 3,002 3,002 Interest earned 340 340 ^ Total receipts $112,833 31 259 62 282 19 292 Disbursements �. Poli.ce Pension Fund $ 19,292 $ 19,292 Firemen' s Relief Association 31,259 $ 31,259 Public Employees' Retirement Association 45,534 45 534 � Total disbursements 96 085 31 259 45 534 19 292 Cash balance December 31, 1969 ,S 17_354 �_ _ �� ,�, ' - ^ � _. .� 41 .. CITY OF FRIDLEY, MINNESOTA �'1 STATEMENT OF GENERAL FIXED ASSETS �' DECEMBER 31, 1969 General fixed assets Land $ 441,552 Buildings and structures 764,150 Improvements other than buildings 14,693,825 �. Furniture, fixtures, and office equipment 103,579 Machinery and equipment 356,125 '— Construction in progress 442 780 � Total general fixed assets 16.802.01 Investment in general fixed assets — Special assessments $14 437 163 > > �,� State aid 116,708 Current revenues 732,346 Municipal liquor dispensary 38,570 Contributions 39,884 General obligation bonds 1,436,654 — Water and sewer utilities 686 Total investment in general fixed assets 16.802.011 General fixed assets were shown at cost except that fixed assets for which cost information was not available were priced at appraised values, �1 42 CITY OF FRIDLEY, MINNESOTA � , � STATEMENT OF CASH AND SECURITY FOR DEPOSITS DECEMBER 31, 1969 — Face amount ^ of securiti�es Cash and pledged as deposits col�ateral Checking accounts - Fridley State Bank, Fridley, Minnesota General account $(35,206) Liquor account 50,451 _. $ 15,245 $200,000 Petty cash and change funds 20,900 Total cash � 3� Certificates of deposit (included in investments) Fridley State Bank, Fridley, Minnesota $125,000 �' First National Bank, Minneapolis, Minnesota -0- $355,000 First National Bank, St. Paul, Minnesota -0- 468,000 Additional security of $20,000 at each bank is provided by the Federal Deposit Insurance Corporation. /'�— SUNINIARY STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS ALL FUNDS _ YEAR ENDED DECEMBER 31, 1969 Cash Cash -� balance balance Januar y 1, December 31, 1969 Receipts Disbursements 1969 _, Fund General Fund $ 1,137 $ 2,673,960 $ 2,680,604 $( 5,5Q7) ... Special revenue funds 227 503,338 421,532 82,033 Bond funds 1,016 10,622 6,000 5,638 Investment Fund 2,383,431 2,415,817 ( 32,386) Special assessment funds 22,691 5,066,272 5,411,017 (322,054) General debt service funds 1,122 336,899 289,072 48,949 _ Trust and agency funds 606 112,833 96,085 17,354 � Municipal Building Revenue '- Bond Fund (Liquor Dispensary) 60,864 1,767,349 1,757,262 70,951 Water and Sewer Revenue '� Bond Fund 1,359 1,161,931 992,123 171,167 _ Total 22 14.016.635 514.069.512 $ 36,145 ,�-� .., 43 " CITY OF FRIDLEY, MINNES OTA � BONDS PAYABLE - ALL FUNDS �.. DECEMBER 31, 1969 ^ Date Maturity Interest Principal of issue date rate amount ^ Special Assessment Debt Service Funds - Definitive Bonds ...� Regular Sewer Improvement Bonds maturing $4,000 per year 5/1/54 5/1/70-73 3.04% $ 16,000 .., May 1, 1974 5/1/74 3.00 2,000 Water and 5ewer Improvement Bonds of 1�54 maturing - $15,000 per year 8/1/54 8/1/70 4.00 15,000 $20,000 per year 8/1/71-74 4.00 80,000 ,_, Water and Sewer Improvement Bonds of 1954 (Series B) Maturing $15,000 per year 8/1/54 2/1/70 4.00 15,000 "'^ $20,000 per year 2/1/71-74 4.00 80,000 Water and Sewer Improvement - Bonds maturing $15,000 per year 11/1/54 2/1/70 4.00 15,000 $ZO,OOO per year 2/1/71-74 4.00 80,000 .� Water and Sewer Improvement Bonds maturing $15,Q00 per year 5/1/55 2/L/70-71 3.60 30,000 "' $15,000 per year 8/1/70-71 3:60 30,000 $20,000 per year 2/1/72-75 3.60 80,000 $20,000 per year 8/1/72-75 3.60 80,000 General Obligation Improvement Bonds maturing $15,000 per year 10/1/55 2/1/70-72 3.60 45,000 �` $15,000 per year 8/1/70-72 3.60 45,000 $20,000 per year 2/1/73-75 3.60 60,000 $20,OOQ per year 8/1/73-75 3.60 60,000 Improvement Bonds maturing $35,000 per year 8/1/56 8/1/70 4.50 35,000 �, $30,000 per year 8/1/71-74 4.75 120,000 August 1, 1975 8/1/75 4.75 50,000 ^ August 1, 1976 8/1/76 4.75 55,000 � Total Regular Special Assessment Debt Service Funds $ 993,000 ^ 44 CITY OF FRIDLEY, MINNESOTA � /� BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1969 '-' �, Date Maturity Interest Principal of issue date rate amount Special Assessment Debt Service ^ Funds - Definitive Bonds (continued) Sewer and Water No. 48 ^ $120,000 per year 10/1/61 1/1/70-72 4. 10% $ 360,000 January 1, 1973 1/1/73 4.10 110,000 Total Sewer and Water No. 48 Special Assessment D�bt Service Fund �S 470,000 Improvement Bonds of 1960 maturing January 1, 1970 10/1/6Q 1/1/70 4.00 $ 80,000 $80,000 per year 1/1/71-73 4.10 240,000 " January 1, 1974 1/1/74 4.10 75,000 $80,000 per year 1/1/75-78 4.20 320,000 January 1, 1979 1/1/79 4.20 75,000 /-�— January 1, 1980 �/1/80 4.20 80,000 January 1, 1981 1/L/81 4.20 70,000 January 1, 1982 1/1/82 4.20 75,000 Total Improvement Bonds of 1960 Special Assessment Debt Service Fund $1,015,000 Improvement Bonds of 1962 maturing February l, 1970 5/1/62 2/1/70 3.50 _ February l, 1971 $ 5,000 2/1/71 3.50 10,000 February 1, 1972 2/1/72 3.50 5,000 February 1, 1973 2/1/73 3.50 10,000 February 1, 1974 2/1/74 3.8Q 5,000 —' February 1, 1975 2/1/75 3.80 10,000 February 1, 1976 2/1/76 3.80 5,D00 February 1, 1977 2/1/77 3.80 10,000 -- February 1, 1978 2/1/78 3.80 5,000 February 1, 1979 2/1/79 3.80 10,000 $5,000 per year 2/1/80-82 3.80 15,000 ,^ Total Improvement Bonds of 1962 Special Assessment Debt Service Fund $ 90,000 � 45 " CITY OF FRIDL�Y, MINNESOTA � " BONDS PAYABLE - ALL FUNDS �CONTINUED) •- DECEMBER 31, 1969 ^ Date Maturity Interest Principal of issue date rate amount �--_� " Special Assessment Debt Service Funds - Definitive Bonds (continued) .. Improvement Bonds of 1963 maturing $85,000 per year 1/1/63 1/1/70 3.20% $ 85,000 $60,000 per year 1/1/71-73 3.50 180,000 _ January l, 1974 1/1/74 3.50 50,000 January 1, 1975 1/1/75 3.70 45,000 $30,000 per year 1/1/76-77 3.70 60,000 $30,000 per year 1/1/78-79 3.80 60,000 "" $35,000 per year 1/1/80-83 3.80 140,000 Total Improvement Bonds of 1963 Special Assessment Debt _. Service Fund $ 620,000 Improvement Bonds of 1965 maturing _^ $50,000 per year 5/1/65 2/1/70-71 3.20 $ 100,000 $30,000 per year 2/1/72-75 3.20 120,000 $30,000 per year 2/1/76-78 3.30 90,000 $30,000 per year 2/1/79-80 3.40 60,000 - February 1, 1981 2/1/81 3.40 25,000 $25,000 per year 2/1/82-85 3.50 100,000 February 1, 1986 2/1/86 3.50 20,000 Total Improvement Bonds of 1965 Special Assessment Debt Service Fund $ 515,000 '" Improvement Bonds of 1967 maturing $150,000 per year 10/1/67 1/1/70-75 *4.20% $ 900,000 $140,000 per year 1/1/76-77 *4.20 280,000 ... $130,000 per year 1/1/78 *4.40 13D,000 $ 40,000 per year 1/1/79-82 *4.4A 160,000 $ 30,000 per year 1/1/83-87 *4.50 150,000 ,,,, January l, 1988 1/1/88 *4.50 20,000 Total Impro�ement Bonds. of. 1967 Special A�sessment Debt Service Fund �1,640,000 * Plus additional interest at the r.ate of 1.50% per annum on a11 bonds (except those maturing in 1968) from January 1, 1968 to January 1, 1969. � ^ �.. 46 CITY OF FRIDLEY, MINNESOTA ^ � BONDS PAYABLE - ALL FUNDS {CONTINUED) DECEMBER 31, 1969 � Date Maturity Interest Principal of issue date rate amount Special Assessment Debt Service ^ Funds - Definitive Bonds (continued) Refunding Bonds of 1964 maturing " $155,000 per year 2/1/64 2/1/70-71 3.10% $ 310,000 February 1, 1972 2/1/72 3.30 155,000 $10�5,000 per year 2/1/73-75 3.30 315,000 — $105,000 per year 2/1/76-79 3.40 420,000 February 1, 1980 2/1/8Q 3.40 40,000 Total Refunding Bonds of 1964 Special Assessment Aebt ^ Service Fund $1,240,000 Total Special Assessment Definitive Bonds $6,583,000 "" General Debt Service Funds /"�— Park Bonds maturing �'ebruary 1, 1970 5/1/62 2/1/70 3.40 $ 15,000 $20,000 per year 2/1/71-73 3.40 60,000 $15,000 per year 1/1/63 1/1/70 3.20 15,000 January 1, 1971 1/1/71 3.50 15,000 $20,000 per year 1/1/72-73 3.50 40,000 January 1, 1974 1/1/74 3.50 25,000 '-' Total Park Bonds $ 170,000 Ci�ic Center Bonds maturing $20,000 per year 5/1/65 2/1/70-73 3.20 $ 80,OOQ $25,000 per year 2/1/74-75 3.20 50,000 $25,000 per year 2/1/76-78 3.30 75,000 -' $30,000 per year 2/1/79-81 3.40 90,000 February 1, 1982 2/1/82 3.50 30,000 $35,000 per year 2/1/83-86 3.50 140,000 -� Total Ci�ic Center Bonds $ 465,000 ^ .., 47 � CITY OF FRIDLEY, MINNESOTA � BONDS PAYABLE - ALL FUNDS (CONTINUED) - DECEMBER 31, 1969 � Date Maturity Interest Principal of issuQ date rate amount "' General Debt Service Funds - (continued) Water No. 75 .. $10,000 per year 5/1/65 2/1/70 3.20% $ 10,000 $35,000 per year 2/1/J1-72 3.20 70,000 February 1, 1973 2/1/73 3.20 20,000 ^ February 1, 1974 2/1/74 3.20 35,000 February 1, 1975 2/1/75 3.20 20,000 February 1, 1976 2/1/76 3.30 35,000 $50,000 per year 2/1/77-78 3.30 100,000 "' $50,000 per year 2/1/79-81 3.40 150,000 $50,000 per year 2/1/82-87 3.50 300,000 February 1, 1988 2/1/88 3.50 20,000 Total Water No. 75 Bonds $ 760,000 -� Total General Debt Service Bonds �1,395,000 REVENUE BONDS ^ Municipal Liquor Sinking Fund $15,D00 per year 9/1/56 9/1/70-71 4.25 $ 30,000 $ 3,000 per year 12/1/57 9/1,/70 71 4.80 6,000 Total Municipal Liquor Sinking Fund ,S 36,000 Public Utilities Sinking Fund , .. Water and Sewer Revenue Bonds maturing $10,000 per year 9/1/56 9/1/70-71. 4.50 $ 20,000 .,, $15,000 per year 9/1/72-76 1+.50 75,000 Total Public Utilities Sinking Fund $ 95,000 �. Total Definiti�e Bonds ,�8,109,000 " Speeial As�essment Debt Service Funds - Temporar By onds .. Storm Sewer No. 82 11/1/66 5/1/70 5.00 $ 30,OD0 12/1/67 12/1/70 5.00 60,000 /'� 9/15/68 9/15/71 5.00 20,000 Total Storm Sewer No. 82 $ 110,000 Sanitary Sewer, Water and Storm _, Sewer No. 84 8/1/67 8/1/70 5.00 $ 100,000 48 CITY OF FRIDLEY, MINNESOTA � BONDS RAYABLE - ALL FUNDS {CONTINUED) DECEMBER 31, 1969 ^ Date Maturity Interest Principal of issue date rate amount Special Assessment Debt Service ^ Funds - Temporary Bonds (continued) Storm Sewer No. 87 12/1/67 12/1/70 5.00% $ 45,000 —' 9/1/68 9/1/71 5.00 10,000 Total Storm Sewer No. 87 $ 55,000 — Sanitary Sewer, Water and Storm Sewer No. 88 4/1/68 4/1/71 5.00 $ 200,000 _ 10/1/68 10/1/71 5.00 25,000 Total Sanitary Sewer, Water and Storm Sewer No. 88 $ 225,000 Storm Sewer No. 89 7/1/69 7/1/72 7.00 $ 15,000 Water No. 92 7/1/69 7/1/72 7.00 $ 30,000 �— 1967 Street 6/1/67 6/1/70 5.00 $ 105,000 1968 Street 3/1/68 3/1/7� 5.00 $ 60,000 11/1/68 11/1/71 5.00 455,000 Total 1968 Street � 515,000 " 1969 Street 7/1/69 7/1/72 7 .00 $ 325,000 Total Special Assessment Temporary Bonds �1,480,000 Total Bonds Outstanding $9.589.000 ^ } ^ .. 49 �. � CITY OF FRIDZEY, MZNNESOTA .. DEBT SERVICE REQUIREMENTS - ALL FUNDS DECEMBER 31, 1969 .. YEAR PRINCIPAL INTEREST TOTAL ,� 1970 $ 1,217,000 $ 372,040 $ 1,589,040 1971 1,667,000 317,834 1,9$4,834 1972 1,244,OOQ 252,753 1,496,753 1973 814,000 194,815 1,008,815 �" 1974 687,000 166,265 853,265 1975 610,000 141,602 751,602 1976 520,000 119,068 639,068 - 1977 470,000 98,357 568,357 1978 455,000 80,753 535,753 1979 370,000 „ 65,160 435,160 ,� 1980 310,000 52,420 362,420 1981 255,000 41,655 296,655 1982 260,000 31,707 291,707 1983 175,000 23,390 198,390 " 1984 140,000 17,525 157,525 1985 140,000 12,325 152,325 1986 135,000 7,213 142,213 -� 1987 80,000 3,150 83,150 1988 40,000 800 40,800 ... 9.589.000 S 1.998.832 511.587.832 CERTIFICATES OF INDEBTEDNESS - GENERAL FUND "' DECEMBER 31, 1969 ... Issue Interest Maturity Principal Date Rate Date Amount ^ Certificates of Indebtedness maturing $5,000 per year 6/1/68 5-3/8 6/1/70 $ 5,000 �- $5,000 per year 5-3/8 6/1/71 5,000 $5,000 per year 5-3/8 6/1/72 5,000 ,^ Total certificates of indebtedness 15.000 /� .. ... 50 CITY OF FRIDLEY, MINNESOTA /'` ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by year of tax collectibility) ^ 1967 1968 1969 1970 Assessed Valuations ^ Real estate $14,346,874 $15,099,699 $17,404,548 $19,189,965 Personal property 2,777,864 2,210,004 2,311,980 3,245,428 Actual assessed $17,309,703 $19,716,528 $22,435,393 Exempt personal 840,00$ 966,800 1i155,935 —" Total 517.124.738 $18.149.711 20.683.328 523.591.328 Tax Levies -General Fund $ 576,210 $ 611,635 $ 727,902 $ 909,650 _ Public Employees' Retirement Association Fund 15,128 32,690 60,288 90,312 Firemen's Relief Association Fund 17,125 18,150 20,683 24,057 '—' Police Pension Association Fund 17,125 18,150: 20,683 44,b10 General Debt Ser�ice Funds 74,592 76,700 75,200 /�— Improvement Bonds 53,062 Total ,� 753�24� $ 757_325 904.756 1_068.629 _, Mill Rates General Fund 33.65 33,70 35.16 38.56 " Public Employees' Retirement Association Fund .88 1.81 2.91 3.83 Firemen's Relief Association _ Fund 1.00 1.00 .95 1.02 Police Pension Association Fund 1.00 1.00 .95 1,89 General Debt Service Funds 4.36 4.22 3.63 Improvement Bonds 3.09 Total 43•9g 41.73 43.60 � — � .� 51 � CITY OF FRIDLEY, MIN�TESOTA ,_, TAX LEVIES AND TAX COLLECTIONS YEARS 1960 THROUGH 1969 Collections Percentage Collection of current of levy of prior Ratio -� year's taxes collected years' taxes of total Year Total during fiscal during fiscal during fiscal Total collections collected tax levy period period period �ollections to tax levy .. 1960 $205,608 $202,592 98.53% $ 3,8Q6 $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 _� 1966 641,945 618,252 96.31 10,003 628,255 .9787: 1 1967 753,242 721,568 95.79 16,160 737,728 .9794:1 _.. 1968 757,325 743,851 98.22 29,672 773,523 1.0213:1 1969 904,756 877,150 96.95 16,349 893,499 .9875:1 -. .. ^ .. 53 .. � CITY OF FRIDLEY, MINNESOTA .. INSURANCE COVERAGE DECEMBER 31, 1969 ., All risk, direct physical loss coverage Buildiags and contents (except liquor stock) - 90% Co-insurance $2,282,495 ^ Boiler insurance 5Q0,000 Contractors' equipment 187,952 Signs 10,000 Fire and extended coverage - Liquor stock 295,000 Comprehensive liability, including automobiles � Bodily injury Each person 100,000 Each occurrence 300,000 — Property damage 50,000 Liquor liability 1,000,000 ,� Open stock burglary 10,000 Comprehensive and collision, autamobile Passenger vehicles Actual cash value Other vehicles Stated value •••r1 Business interruption, liquor stores 250,000 — Money and securities, inside and outside premises, all locations 15,000 ., Depository forgery bond 10,000 Workmen's compensation Statutory EMPL�YEES' SURETY BONDS DECEMBER 31, 1969 .. ... Surety Name Position bond Marvin C. Brunsell City Clerk $ 1,OD0 Marvin C. Brunsell Treasurer 25,000 �, Mervin J. Herrmann Assessor 500 ^ Leon Madsen Deputy Assessor 500 �' All employees are covered by a blanket faithful performance bond of 15,000