1964 Financial Statements !
CITY OF FRIDLEY, MINNESOTA
FINANCIAL STATEMENTS
DECEMBER 31, 1964
CITY OF FRIDLEY, MINNESOTA
ELECTED AND APpOTNTED OFFICIALS
DECEMBER 31� 1964
Term of
office expirea
JanuarY
Elected
Mayvr - William J. Nee 1966
Councilmen
Raymond E. Sheridan 1968
Glen Johanson 1966
Jack 0. Kirkham 1967
John C. Wright 1967
Effective January 2, 1965
Mayor - Will iam J. Nee 1.966
Councilmen
Raymond E. Sheridan 1968
Glenn W. �hompson 1966
Jack 0. Kirkham 1967
John C. Wright - 1967
I�unicipal Judge - Elmer 3ohnson 1970
Appointed
Manager - Farl P. Wagner
Clerk-1'ueasurer - Marvin C. Brunsell.
Attorney - Wyman Smith
Assessox - Mervin Iierrm�nn
Engin�er - N,�sim Qu�esl�i
CITY QF FRIDLEY, MINI3ESOTA
TABLE 4F CONTENTS
Pa e
Independent certified public accountant's opinion 1
CommenCs 2
Balance sheets - all funds b
General E�nd
Balance sheet �p
Ana].ysis of changes in unappropriated surplus 11
Statement of revenue - actual compared with budget estimaCes 12
S�atesnent of expenditur.es - actual campared wfth budget estimates 13
I�unicipaX State Ai.d �nd
Balance sheet 20
Statement of cash receipts and disbursements 20
Band funds
Balance sheets 21
Statements of cash recefpts and disbursements 21
Special Improvements Revolving Et�nd
Ba.lance sheet 22
Statement of cash receipts and disbursements 23
Special assess�iex�t funds
Balance sheets 25
Construct3.on
Balance sheets 26
Statements of cash receip�s �nd disbursements 32
Debt service
Balance shee�s 40
Statements of cash receipCs ansi disbursements 44
Debt service requirements 49
General debt service funds
Balance sheets Sp
5tatements of cash receipts and disbursements 50
Debt service requireuaents S1
Trust and agency funds
Balance sheets 52
Statem�nts of ca�h receipts and di�bursements 52
CITY OF FRIDLEY, MINNESOTA
TABLE OF CONTENTS (CONTINUED)
Pa�e
Municipal liquor funds
Balance sheezs 53
Operating
Balance sheet 54
St�tement of income and retained earnings 55
Statement of income for individual stores 56
Statement of gross profit 58
Statement of operating expenses 59
Statements of operating expenses for individual
off sale stores 60
Stateanents of operating expenses for individual
o� sale stores 63
Debt service
Balance sheets 64
Statements of casYa receipts and disbursements 64
Debt service requirements 65
5ewer and water utility funds �
Balance sheets 67
Operating
Balance stneet 6$
Analysis of claanges in surplus 71
St�tement of incame 73
St�tetnent of operating �xpenses 74
Debt service
Balance sheets 78
Statements of �asla receipts and disbursements 78
Debt service r�quirements 79
Statement of gener�l fiased assets 81
Miscellaneous infoxmation
Summ�ry st�.tement of Treasurer cash receipts and disbursements 82
S�atement of cash $4
Statement of United St�tes Government securities placed in
escrow by depository banks for the safeguarding of City funds 85
Investment in City of Fridley temporary bonds 86
Bonds payable - all funds 87
Debt service requirements - all funds 92
Assessed valuations� tax levies and mill rates 93
Tax levies and t�x collections 94
Insurance covex�g� 95
Finplcayees sure�y bonds 96
Escrow agent accc�unt - Decemlaer Z5, 1964
Description 97
Balanc� sheet 9$
Statement of. cash receipts and distsursements March 25, 19b4
to December 15a 196G� 98
Bonds payable 99
Debt service requirements 101
GEORGE M. HAN5EN COMPANY
Cert'�'ied Public Accountants
aao� EXCELBIOR BLVD.
MINN6APOLIB 16, MINNESOTA
WALNUT 7-6709
May 6, 1965
To the City Council of
Fridley, Mi.nnesota
We have examined the accompanying financial statements of the respective
funds of the City of Fridley, Minnesota for the year ended December 31, 1964.
Our examination was made in accordance with generally accepted auditing
standards and accordingly included such tests of the accounting records and
such ather auditing procedures as we considered necessary in the cireumstances.
Tize Eserow Agent A�count (Pages 97 to 101) is not included as part of the
financial staCemeats of the City, but included only as supplemental informaCion.
Information contained in the Es.crow Agent Account was obtained fram the eserow
agent.
On January 1, 1964, the City changed from the accrual basis for recording
property tax revenue to the modified cash basis whereby prop.erty tax r�venues
are recorded when actually received. Zhe City con�inued to record other
revenue and all expenditures on an accrual basis.
In our opinion, these statements (Pages 2 to 96) present fairly Che £inancial
position of the City of Fridley, Minnesota at De,cember 31, 1964 and the re-
sults of their operations for the year then ended, in conformity with generally
accepted governmen�al accounting principles.
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2
CITY 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 for a fonn of government
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 exclusi�ely through the city
manager and shall not itself attempt to perform any ackninistrative 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 following comments explain the purposes of respective City funds and give
pertinent information concerning operations, revenues, expenditures, budgetary con-
trols and other significant matters.
General Fund
Zhe General F1ind is used to account for all revenues, and the activities financed by
them, which are not accounted for in some special fund. The principal sources af
revenue are (1) general property ta�es, (2) licenses and permits, (3) fines and .for-
feitures, (4) shared State taxes (mainly cigarette and liquor) and (5) transfers fram
the Minicipal Liquor Operating FLnd. k�cpenditures are for (1) general government,
(2) public safety, (3) highways, (4) sanitation and waste removal, (5) parks and
recreation and (6) other functions. A plan of financial operation of the General Fund
is set forth in the annual budget adopted by the Council. The following summary shows
the major variances of actual revenue and expenditures £rom budget estimates for the
year ended December 31, 1964.
Actual
over
&tdget (under)
Actual estimates estimates
Revenue:
General property taxes $377,331 $372,011 $ 5,320
Lfcenses and pernaits 46,178 S3,955 (7,777)
Fines and torfeitures 21,341 18,500 2,841
Revenue from other agencies 63,510 61,000 2,510
Other _ 87,883 87,967 84)
Total revenue $596L243 593 433 $ 2,810
F�penditures:
General government $156,981 $151,493 $ 5,488
Public safety 211,181 214,303 (3,122)
Highways 150,858 149,552 1,306
Sanitation and waste xemoval 6,262 9,100 (2,838)
Other 95,�271 96i562 1 291)
Total expenditures $620,553 $621,010 $( 457)
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 ffre station.
3
l�unicinal State Ai.d �snd
This �und was established in 1961 to account for gasoline tax collectioas apportioned
to the City from the StaCe of Mi.nnesota for street construction and maintenance.
Bond Funds
Park Construction F'und - Park Bonds totaling $30Q,000 were issued in 1962 and 1963 for
the purposes of acquiring land and developing park facilities in various areas of the
City. This fund accounts for proceeds from these bond issues.
City Ha.11 Construction Ft�nd - This fund was established in 1964 to account for the
bond proceeds �or construction of additional city ball facilities. Temporary bonds
totaling $�+S,OOO were issued in 1964 to start construction. A bond issue of $500,000
was approved by the electorate in 1964. Tl�ese bonds were issued on May 1, 1965.
Special ?inprovement Revolving Fund
Zhe 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 construction and debt
service funds, water and sewer conneetion assessments aad improvement escrow deposits.
Special Assessment Fuads
Special assessment funds are establ.ished to aceount for special assessments levied
to finance improvements or services deemed to benefit the propertfes against which
the assessments are levied. Primarily, the transactions accounted for in special
assessmeat construction funds are receipt of bon.d proceeds and disbursement of bond
proceeds for construction work do�e. Special assessmeat debt service funds account
mainly for collection of assessments against benefited prop�rty owners and disburse-
me�t ot assessment collections for the payment of bonds and interest.
Several special a�sessment eonstruction funds showed cash deficits as of December 31,
196�+. Thes�e deficits mean, in effect, that monies belonging to othex City funds have
bee�n used as a means of temporary financing until sufficient bonds are sold and
special assessments receivable eollected to p�y current expenditures aad eliminate
the d�ficits.
�he debt service fund for Improvement Bonds of 1963 shows a de�erred tax levy of
$7558500 to pay costs of water and sewer system expansion not asesssed aga�inst
benefited praperty. Tt is anticipated that a substantial portion of the uuassessed
costs will be paid from earnings of the WaCer and 5ewer UtiLities Operating �nd and
tha.t annual collecCible amounts of the levy will be cancelled or rechic�d accordingly.
_.,�
Refunding bonds in the amount of $2,025,000 were issued during 1964. The proce�ds
from this bond issue were paid to the esarow agent to be used for the retirement of
the following bond issues: Iffiprovement Bonds of 1961, 3ewer and Water Project No. 13
and Sewer and Water Projects Nos. 21 and 22.:
4
The debt service fund for the Refunding Bonds of 1964 shows a deferred tax levy of
$2,242,237. Zhis tax levy 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 F`und, could be used to cancel or reduce
the annual collectible amount of the deferre�, 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 prospect-
ive interest receivable or payable becames 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 callectible. Conversely, redemption of bonds
before maturity would reduce the amount of interest to be paid.
General Debt Service Funds
Zhese funds are used to account for the accumulation of resources for payment o£
general obl�gation bonds and interest thereon. ° 1he City has three funds of this
nature. '
Building Bonds of 1951 - the last of these bonds matured and were paid durfng the
year 1962. The unappropriated surplus of $2,168 may be used for other City fTznctions
as directed by the city council.
Park Bonds of 1962 and 1963 - Z'his fund is used to accumulate the monies received
from a general property tax levy for the retirement of the bonds and payment of
interest.
City Hall Bonds - This fund was established during 1964 to account for the retirement
of the temporary bonds issued during 1964 and the City Hall Bonds issued May 1, 1965.
Trust and A�ency Funds
ZYust and agency funds are established to account for cash or other assets held by
the municipality as a trustee or agent. Ci.ty funds of this nature i.nclude (1) Fire-
men°s Relief Association k'und, (2) Public IInployees' Retirement Association Fund and
(3) Drivers License Fund. The Firemen' s Relief Association Fund and the Public
F3mployees' Retirement Association Flznd account for collection of general property
taxes levied for the benefit of these associations and subsequent remittance of such
collections to them. The Drivers License Fund was used during the year to account
for sales of drivers licenses. Proceeds from the sale of drivers licenses were
remitted to Anoka County.
Municipal Liquor Funds
Zhese funds were established 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.
Percentages and detailed statements by stores are included as additional aids in
reviewing the results of operations. Sales increased from $898,987 in 1963 to
$959,184 in 1964. Gross profit in relation to sales increased percentagewise from
34.82% to 35.01%.
Debt service funds are being maintained in accordance with bond sal�s agreements.
Of an original bond issue of $230,000 sold in 1956 and 1957 to be paid for from
revenues of liquor stores, $125,000 was payable after December 31, 1964. Zhese
bonds ware issued to pay for (1) a liquor store building, (2) an addition to the
City Ha.11 building and (3) an equipment garage. A schedule of debt service re-
quirements by years is included in this report.
� S
Sewer and Water Utilities Funds
?4hese funds account for the operations and �inancing 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 reservo3r and a well. As of December 31a 1964 $140,000
of these bonds were payable in tuture years. Debt serviee funds for this boad issue
are being maintained in accordance with the bond sales agreement.
Unassessable construction costs totaling approximately $1,100,000 as of December 31,
1964 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.
General Fixed Assets
In the general �izced assets group of accounts were carried all Eixed assets of the
City other than those shown in the l�nicipal Liquor Operating Et�nd and the Sewer and
Water Utilities Operating k'und. General �ixed assets were carried at cost, except
that fixed assets f,or which cost iAfoxmation .was not available were priced at
appraised values.
Th� financial statements which follow laave been prepared to set foxth (1) individual
fund balance sheets, (2) analys�s of changes in unappropriated surplus, (3) revenue-
actual eompared with budget estimatesa (4) expenditure�-actual compared with budget
estimates and (5) other information.
General
On May 6, I965, several tornadoes caused exteczsive damage to several municipalities
including Fridley. City o�ficials estimate the da.mage dc�ne to City property to be
about $758004 and hope to recover this expense either from insurance or Federal aid.
6
CITY OF FRIDLEY, MINNESOTA
BALANCE SHEET5 - ALL FUNDS
DECEMBER 31, 1964
Municipal
General State Aid Bond
Fund Fund funds
Cambined (Page 10) (Pa�e 20) (Pa e )
ASSETS
Cash $ 1,704,092 $ 97,534 $(11,033) $ 4,478
Cash with fiscal agents 553,751
Investments, at cost - City of
Fridley bonds (Page $6} 937,000
Accounts receivable
Other City funds 73,572
State of Minnesota 121,951 25,498 96,453
other 82,884 1,488
Accrued interest receivable 49,445 10� 13
Taxes receivable
Delinquent 30,689 26,132
Deferred 3,393,037
Special assessments receivable
Delinquent 462,450 958
Deferred
Principal 4,325,478 645
Interest 1,712,097
Inventories, at cost 1�+6,478 212
Prepaid expen5es and construction
costs 40,1+63 711 18,427
Amounts to be provided by future
revenue 1,030,604 86,869
Bonds authorized - unissued 500,000 500,000
Fixed assets, at cost or
appraised values
General 11,543,044
Other, less accumulated
depxeciation 1,445,960
Total assets $2$,152,995 $240y154 $103,847 504 491
7
Special
7mprove- General Sewer
ments Special debt Trust and Municipal aad water General
R�volving as�essment service ageucy liquor , utilities Fixed
Fund funds funds funds funds funds Assets
(��e 22) 4Pa�e 25) (Pa e 50 (Pa e 2) (Page S3) (Pa�e 67) (Pa�e 8I)
$ 32,902 $ 1,219,�19 $ 16,688 $ 7,356 $152,483 $ 1$3,765
538,824 8,370 6,557
937,000
17,222 45,000 11,350
9,572 100 71,724
462 47,297 725 8�+1
9$3 1,559 2,OlS
3,0469 337 346,700
11,877 �+4.99615
271,386 4,053,/�47
1,712,097
1469 266
198492 633 1,200
64�+,O1�2 4,O50 24,664 110,l+79 160,500
$11a543,044
--- � ZS4,6$� 1„�191.272
336 119 $12fl6769355 22 367 4S 3�5 6�1 931 1 609 302 $11A5�3,044
,
8
CITY OF FRIDLEY, MINNESOTA
BALANCE SHEETS - ALL FUNDS
DECEMBER 31, 1964
l�unicipa�.
General State Aid Bond
Plsnd Fund funds
Combined (Page 10) (PaQe 20) (Pa e 2 )
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Accounts payable
Other City funds $ 73,572 $ 8,647 $ 45,000
Public F�nployees' Retirement
Association 43,370
Other �+7,830 $ 16,342
Contracts payable 149,209 69,336 1,000
Retained percentage on contracts 31,978
Deposits payable 207,206 6,221
Bonded indebtedness
Matured bonds and interest 14,631
Future maturities
Bonds <Page 91) 8,952,000
Interest 2,124,939
Reserves for
Contingencies 32,039
Unrealized revenue 32,292 27,735
Retirement of bonds and interast 2,137,485
Encumbrances 151,137 15,208
Municfpal State aid road
Construction 87,806 87,806
Maintenance 6,394 6,394
Retirement of revenue bonds 191,904
Unencumbered appropriation balances 482,821 459,491
Deficit (construction costs not
financed) { 113,110)
General tixed assets 1�.,543,044
Investment in fixed assets 1,254,056
Current surplus 330,505
Unappropriated surplus 371,887 105,312
Total liabilities, reserves
and surplus $28,152,995 $240�54 $103,847 $504�491
9
Special
Improve- Gener�l Sewer
ments Special debt Trust and Municipal and wat�r General
Revolving assessment service a�ency liquor utilities Fixed
Fund funds funds funds funds funds Assets
(Pa„�E 22) Pa e ) (Pa�e 5d) (Pa e ) (Pa e ) (Pa�e 67) (Pa�e 81)
$ 8,575 $ 6,998 $ 4,352
$ 43,370
$ 2,603 5,764 6,590 - 16,53I
78,$73
31,978 -
69,966 131,019
7,224 $ 850 6,557
8,347,000 34A,000 125,000 140,000
1,998,748 5$,470 21,721 46,000
32,039
9$3 1,559 2,015
2,118,165 19,320
135,929
759329 116,575
23,330
< 113,110)
$11,543,044
179,359 1,074,697
250,377 $0,128
263,550 857 2q168
336 119 $�;2;:��8�� 22 367 45 385 671 931 $1,609,302 �11,543,044
10
CITY OF FRIDLEY, MINNESOTA
GENEFAL FUND
BALANCE SHEET - DECEMBER 31, 1964
ASSETS
Cash $ 97,534
Accounts receivable
State of Minnesota
Cigarette and liquor taxes $ 24,732
Civil defense reimbursements ��i6
Other 1,48$ �6,98b
Accrued interest receivable 107
Delinquent taxes receivable ��i;132
Special assessments receivable
DelinquenC 958
Deferred 645
Prepaid insurance 711
Inventories, at cost 212
Amount to be provided by future revenue 86,869
Total assets 240 154�
LIABILITIES, RESERVES AND SURPLUS
Liabilities
A�ccount$ payable $ 16,342
Contracts payable
�ity of Fridley Volunteer �iremen's Relief
Associat3on $ 56,19U
Other ' 13,146 69,336
Deposits payable
Park deposits $ 5,751
Other 47 U 6,221
Reserves for
Unrealized revenue $ 27,735
�cumbrances 15,208 42,943
Unappropriated surplus 1@5,312
Total liabilities, resexves and surplus 244 154
11
CITY OF FRIDLEY, MINNESOTA
GENERAL FUND
ANAZYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
YEAR ENDED DECEMBER 31, 1964
Actual
8udget over (under)
Actual estimate estimate
Unappropriated surplus January 1, 1964 $157,766
Prior year's ad,justmenCs
1. To set up reserve for unrealized
rev�nue and account for revenues from
property taxes and special assessments
on a ca�h basis (27,247)
2. Other ( 897)
Unappropriated �urplus January 1, 1964
after adjustment $129,622 $129,622r
Add revenue (Page 12) 596,243 593,433 2 810
Total $725,865 $723,OS5 $ 2,810
Deduct expenditures (Page 19) 62p,553 621,010 457)
Unappropriated �urplus Dece�ber 31, 1964 105 31B 102 0[�5 3 267
12
CITY OF FRIDLEY, MINNESOTA
GENERAL FUND
STATEMEN� OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES
YEAR ENDED DECEMBER 3I, 1964
Ac Cual
over
Budget (under�
Actual estitnate estimate
General property taxes
Current ad valorem $370,730 $368,011 $ 2,719
Delinquent ad valorem 6,573 4,000 2,573
Forfeited tax sale apportionments 28 28
Total general groperty taxes 377 331 372 O11 5 320
Licenses and permits
�siness regulatory licenses $ 10,131 $ 12,275 $( 2,.144)
Nonbusiness licenses and permits 36,047 41,680 5 633)
Total licenses and permits 46 178 53 955 7 777)
Fines and forfeitures - I�iunicipal Court 21 341 18 500 2 841
Revenue from use of money and property
Interest earned $ 2,715 $ 2,000 $ 715
Rents 122 122
Total revenue from use of
money and property 2 837 2 000 837
Revenue from other agencies
Shared State taxes
Cigarette and liquor $ 46,733 $ 48,000 $( 1,267)
Nbbile home regiatration fee 8,529 7,000 1,529
l�brtgage registry $,248 6,000 2,248
Total revenue from other agencies 63 510 61 000 2 510
Charges for current services
General Government $ 6,135 $ 6,465 $( 330)
Public Safety 5,163 4,575 588
xighways 40 40
Conservation of Iiealth 275 ( 275)
Recreation 3,708 4,652 ( 9�+�+)
Total charges for current
services 15 046 15 967 921)
Transfer from Municipal. Liquor Operating Flind 70 000 70 000
Total. revenue 596 243 593 433 $ 2,810
13
CITY OF FRIDLEY. MINNESOTA
GENERAL FUND
STATEMENT OF EXPENAITURES - ACTUAL COMPARED WITH �UDGET. ESTIMATES
YEAR ENDED DECEMBER 31. 1964
Actu�l
over
Budget (under)
Actual est3.mate estimate
General government
Mayor and Couacil
Perso�aal sexvices $ 13,929 $ 13,700 $ 229
Coatractu�l services 4,919 4,85q 69
Co�uodities 921 700 221
Other charges 535 600 < 65)
Capital outlay 102 500 398)
Tota1 20 406 20 354 56
Manager
Personal servfees $ 17,229 $ 17,240 $( 11)
Contractual 1,237 1,300 ( 63)
Cammodities 682 525 157
Other cha�ges 148 200 < 52)
Capital outlay 99 12� 26)
�Q�a,1 L9 395 19 390 � 5
Municip�l Caurt
PersoYaal se�ri�es $ 20,74�4 $ 20y 516 $ 22E�
Con�ractu��. serviees �2 18890 ( 1,448)
Ca�maoditi.e� 606 500 106 ,
Otlaex ckaarges 790 60 730
Capital �uCl�.y 132 150 ,� 1�)
����,1 22 71� 23 116 4Q2)
Ele�t3.offis and, V�ters' Registxation
Persoaal service� $ 9,497 $ 11,100 $< 1,603)
Cs�ntra�tu�l se�rr3.�es 278 330 ( 52)
Ca�noditie� 2,600 700 18900
(Dth�r �h�,�ges 30 25 5
Capital �utlay 250 250)
Tc�t�.l 12 405 12 �Q5 ^�, "p"
Finance
Glerk�Treasurer
Person�l �ervices $ 15,190 $ 16,6�4 $( 1,�94)
Cont�actu�.�. sexvices 2,].58 3,390 ( 1�232�
Cau�modities 2a 618 3'900 ( 19 282�
Other charges 499 765 � 266)
Capit�l outla:y 5m 981 19 685 4s 296
Total 26 4�+6 26 42,�a S � 22
14
CITY OF FRIDLEY� MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL COMP6RED WITH BUDGET ESTIMATES (CONTIN[1ED)
YEAR �HDED DECEMBER 31, 1964
Ac tual
ovex
Budget (under)
A�ctual estimate es�fmate
General Government (continued)
Financs (continued)
Assessor
Personal services $ 16,650 $ 16,680 $( 30)
Contractual services 1,218 1,435 ( 217)
Commodities 648 700 ( 52)
Other charges 406 6S 341
Capital outlay 750 825 75)
Total 19 672 19 705 33}
Independent audi,ting and accounting 3 800 3 800
Total Finance 49 918 49 929 11)
Legal
Personal services $ 6,227 $ 6,600 $( 373)
Contractual sexvices 283 2$3
Commodities 11 11
Total 6 52I 6 600 79)
Admfnistrative Of£ices
Charter Comanission - Contractua2 services $ 50 $( 50)
Civil Service - ContractuaZ services $ 33 250 ( 217)
Board of Appeals - Contractual services 54 50)
Total Administrative Offices 33 350 317)
Planning and Zoning
Personal services $ 3,412 $ 3,400 $ 12
Contractual services lF4 25 19
Cammodities 131 150 ( 19)
Other charges 3 15 12)
Total 3 590 3 590 $ _0_
General Government Buildings
Persona.l services $ 433 $ 400 $ 33
Contractual services 7,692 7,918 ( 226)
Com4nodities 806 925 ( 119)
Other charges 3,626 4,420 ( 794)
Rental of Fire Statfon 6,778 6,77g
Ca.pital outlay 2,664 2�100 564
Total 21 999 15 763 6 236
Total General Government 156 9$1 151 493 5 488
15
CITY OF FA�DLEY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDIT{JRES - ACTUAL COMPARED WYTH BUDGET ESTIMATES {CONTINUED)
YEAR ENDED DECEMBER 3T, 1964
A�ctual
over
Budget (under)
Actual estimate estimate
Public Sa.fety
Police ProCection
Personal services $103,201 $105,098 $( 1,897)
Contractual services 9,137 5,500 3,637
Commodities 9,544 10,900 ( 1,356)
Other charges 2,$30 3,575 < 745)
Capital ontlay 7,016 6,700 316
Tc>tal 131 728 131 773 45)
Fire Protection
Personal services $ 26,936 $ 28,506 $( 1,570)
Contractual services 5,235 4,300 935
Com�aodities 4,106 2,525 1,581
Other ch�rges 2,555 3,145 ( 590)
Ca.pital autlay 2;237 5g 225 2 988)
T��al 41 069 43 701 2 632)
Protectiv� I�aspection
Personal se�vices $ 20,655 $ 20,[�38 $ 217
Contr�c;�ual services �,078 8,600 ( 522)
Cognnodities 4�+1 825 ( 384)
Otla�r ch�rg�s 4��+ 1�5 359
Ca.pi�al ou�lay 89 110 21)
Tca�a4 29 7°�7 30 098 351)
Cieil I��en�se
P�rsoaa�l ���v��e� $ 4,684 $ 4y 716 $( 32)
Gantr��tu�,l $earvices 569 450 119
' G�auaoditi�s 71 300 ( 229)
O�her ��a�ges 22 25 ( 3)
Ca.�:ital c�utlay 60 60
T°c��al 5 �a06 S �+91 85)
Anim�l C�ntract
Contr�,ctua�l services $ 3,000 $ 3,000
Co�nmodities 231 200 $ 31
Otk�er charges �+� ( �+0)
�atal 3 231 3 2�0 $� 9)
To�a�l Publi� Sa.fety. 211 181 21� 303 3 122)
16
CITY OF FRiDLEY, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES - ACTUAL GOMPARED WITH BUDGET ESTIMAT$S�CONTxNt1ED)
YEAR ENDED DECEMBER 31, 1964
Ac,tual
over
Budget (under)
Actual estima.te estimate
Highways
Engineering
Personal services $ 19,143 $ 11,868 $ 7,275
ConCractual services 2,269 7,050 ( 1+,7$1)
Commodities 1,798 2,700 ( 902)
Other charges 458 2,600 ( 2,142)
Capital outlay 1,379 82S 554
Total 25 047 25 043 �4
Street and Alley
Personal servi.ces $ 33,163 $ 24,014 $ 9,149
Contractual services 4,550 18,275 (13,725)
Commodities 1:4,557 17,250 ( 2,693)
Other charges 12,761 9,250 3,511
Ca.pital outlay 13.831 2,950 10,$81
Total 78 862 71 739 7 12�
Snow and Ice Removal
Personal services $ 3,779 $ 8,100 ${ 4,321)
Contractual services 910 2,325 ( 1,4�.5)
Commodities 3,771 1,SS0 2,221
Other charges 240 , 1,200 ( 960)
Capital outlay 1,696 1�600 96
Total 10 39E� 14 775 4 379)
Traffic Signs, Signals and Markings
Personal services $ 1,833 $ 3,060 $( 1,227)
Contractual services i,183 1,325 ( 142)
Coma►odities 2,455 1,000 1,455 .
Other charges 35 460 ( 425)
Capital. outlay 1,743 3,000 1 257)
Total 7 249 8 845 1 596)
Equipment Maintenance
Personal services $ 2,013 $ 3,05Q $( 1,037)
Contractual services $73 1,400 ( 527)
Commodities 2,172 1,450 722
Other charges 17 l+50 ( 433)
Capital outlay 619 300 319
Total 5 694 6 650 956)
Street Lighting - Contractual services 23 610 22 500 1 110
Total Highways 150 858 1�9 552 i 306
17
CITY OF FRIDLEY9 MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDxTURES - ACTUAI. COMPARED WITH BUDGET ESTIMATES (CONTTNUED)
^ YEAR ENDED AECFd�ER 31, 1964
Actual
oaer
Budget (under)
Actual estimate estimate
Sanitation and Waste Removal
Stoxm 5awers
Personal services $ 3,251 $ 2,750 $ 501
Contractual services 1,032 2,150 ( 1,118)
Commodities 1,272 1,200 72
Other charges 226 500 ( 274)
Ca.pital outlay 2,000 2 000)
TaCal 5 781 8 600 2 819)
Weed Eradication
Contractual services $ 321 $ 300 $ 21
Cammodities 4 25 21)
Total 325 325 $ _0_
Pest Control - Contractual services 156 175 19)
Total Sanitation and Waste
Removal, 6 262 9 100 2 838)
Conservation of Health
Personal ser�rices $ 3,672 $ 3,672
Contractu�l serviees 645 1,000 355)
To�al Conservation of Health 4 317 4 672 355)
Library
Contractual ��r�ices $ L00 $( 100)
Other charges 1 500 1,500
���al Library 1 500 1 600 100)
CiCy Band
Persc�x�l se�vi�es $ 850 $ 850
Contr�ctual se�vic�s 32 $ 32
Ccrosn�di�3es 864 67� L86
Other cha�ges 45 380 ( 335)
To�al C3.ty Band l 791 1 908 117)
Recreation
Admia�is�xative $ 48787 $ 4,722 $ 65
Baseball 2,6�+ 2s950 ( 306)
Pla�gx�ounds 49014 48980 ( 966)
Winter Program 29570 39650 ( 1,080)
Youth Center 138 138
Adult Progxam 1�04�9 1s150 ( 101)
Beach Program 5�7�1 Sa000 771
�,y ��p 300 300)
Total Recreation 20 973 22 752 1 ��9)
19
CITY OF FRIDLEY, MINNESOTA
GENERAL FUND
STATII�ENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED
~ T YEAR ENDED DECEMBER 31, 1964
A�c tual
over
Budget (under)
Actual estimate estimate
Municipal Parks
Personal serv3.ces $ 24,707 $ 22,772 $ 1,935
Contractual services 9,643 9,400 243
CoAnnodities 1,974 900 1,074
Other charges 10,216 4,988 5,228
Capital outlay 15,771 23,190 7 419)
Total Minicipal Parks 62 311 61 250 1 061
City contribution - Hospitalization 3,nsurance 4 379 4 3$0 $( 1)
Total expenditures 620 S53 621 O10 $( 457)
zo
CITY OF FRIALEY, MINNESOTA
MUNICIPAL STATE AID FUND
BALANCE SHEET - DECEMBER 31, 1964
ASSETS
Cash $(11,033)
Account receivable from the State of Mfnnesota (ga�oline
tax allotment for construction) 96,453
Prepaid construction costs 1g,427
Total assets 103 847
LIABILITIES AND RESERVES
Liabilities
Other City fund - Storm Sewer Project No. 5 Special
Assessment Construction Fund $ 8,647
Contracts payable 1,OQ0
Reserves for municipal State aid road
Construction $ 8,7�$p�
Maintenance 6,394
94;20U
Total lfabilitfes and xeserves 103 847
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
YEAR ENDED DECEMBE�t 31, 1964
Cash balance January 1, 1964 $ 51,111
Receipts - Gasoline tax apportioned by the State of
Minnesota �.42,058
Total beginning cash and receipts $193,169
Disbursements
Maintenance $ 14,10�i�
Construction 112,2Z1
Transfer to Storm Sewer Project No. 5 Special
Assessment Constructian Fund 77,$27
Total disbursements 204i202
Cash balance December 31, 1964 (11 033)
21
CITY OF FRIDLEY, MINNESOTA
BOND FUNDS
BALA.NCE SHEETS - DECF�ER 31, 1964
Park City Hall
Cambined Construction Construction
ASSETS
Cash $ 4,478 $ 7,999 $( 3,521)
Accrued interest receivable 13 13
Bonds avthari.zed - unissued 500,000 500,000
Total assats 50[� 491 8 012 96 479
LIABILITY AND SURPLUS
Liability - Account payable - City
Hall Bonds Debt Service Fund $ 45,000 $ 45,000
Unencumbered appropriatian balance 459,491 8 012 451,479
Total liability and surplus 504 491 8 012 , 96 479
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS
YEAR ENDED DECEMBER 31, 1964
Cash balance January 1, 1964 $ 23,280 $ 23,280
Receipt - Bond proc�eds 45s OOQ 45 000
Total beginning cas�i and
rec�ipt� 68 280 23 280 4�5 000
Disbursements
Profession�l services $ 1,255 $ 1,255
Contractua�l. services 469 469
Commadities 27 27
Iand purchases 53,414 $ 12,912 40,502
Building and stru�tures 8�637 2,369 6,268
ToC�.l disbursements 63 802 15 2$1 48 521
Ca.sh balance December 31, 1964 4 4�78 7 999 3 521)
22
CITY OF FRIDLEY, MINNESOTA
SPECIAL IMPROVEMENTS REVOLVING FUND
BALANCE SHEET - DECEMBER 31., 1954
ASSETS
Cash $ 32,90?
Accrued interest receivable 462
Special assessments receivable
Delinquent 1Z,$77
Deferred - Principal 271,386
Prepaid construction costs 19,442
Total. assets 336 119
LIABILITIES AND SURPLUS
Liabilities
Accounts payable $ 2,b03
Deposits payable 69,966
Unappropriated surplus 263�SS0
Total liabilities and surplus 336 119
23
CITY OF FRIDLEY, MINNESOTA
SPECTAL IMPROVEMENTS REVOLVING FUND
STATEMENT OF CASH RECEIPTS AND AISBURSEMENTS
YEAR ENDED DECEMBER 31, 1964
Cash balance January 1, 196�+ $ 8,536
Receipts
Special assessments $ 57,623
InCerest 1,146
Escrow deposits transferred from Regular
Special Assessment Debt Service Fund 81,561
Total receipts 140,330
Total beginning cash and receipCs $148,866
Disbursements
Capital outlay $ 68�
Net decrease in escrow deposits 23,912
Transfers to other funds
Special assessment construction 5,935
Special �ssessment debt service 85,434
Tota1 disbursements 115,964
Cash balance Deeember 31, 1964 $ 32,902
25
CITY OF FRIDLEY� MINNESOTA
SPECIAL ASSESSMENT FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Con- Debt
struction service
Combined Pa e 26 Pa e 40
ASSETS
Cash $ 1,219,919 $186,016 $ 1,033,903
Cash with fiscal agents 538,82�i 538,824
Investments, at cost - City of Fridley
bonds (Page $6) 937,000 937,000
Accounts receivable
Other City funds 17,222 8,647 8,575
Other 9,572 9,572
Accrued interest receivable 47,297 47,297
Taxes receivable
Delinquent 983 983
Deferred 3,046,337 3,046,337
Special assessments rece3.vable
Delinquent 449,615 449,615
Deferred
Principal 4,053,447 4,053,4�+7
Interest 1,712,097 1,7 12,097
Amounts to be provided by future revenue 644,042 ___,_,__ 6440042
Tota1 assets $12,676,355 $20�+,235 �12,472,120
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Aecounts pay�ble
Other City funds $ 8,575 $ 8,575
Other 5,764 5,764
Contracts payable 78,873 78,873
Retained percentage on contxacts 31,978 31,978
Bonded indebtedness
Matured bonds and interest 7,224 $ �a22�+
k�.iture maturities
Bonds (Page 90) 8,347,000 8,347,000
Interest 1,998,748 1,998,7/�8
Reserves for
ConCingenci.es 32,039 32,039
Unrealized revenue 983 983
Encumbrances �.35,929 135,929
Retirement of bonds and interest 2,118,165 2,118,165
Uraencumbered appropriation balances 23,330 23,330
D�ficit (construction costs not financed) ( 113,110) (113,110)
Unappropriated surplus 857 857
Total liabilities, reserves and surplus $129676,355 $204,235 $12,4729120
26
CITY UF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTIO� FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Sanitary Sewer, Sewer and
Storm Sewer Water Water
and Water P�oject Project
Combined 1'roiect No. 58 No. 34 No. 48
ASSETS �
Cash $186,016 $( 400) $48,730 $ T,902
Accounts receivable
Other City fund - Municipal
State Aid Fund 8,647
Other 9, 572 2,089
Total assets 204 235 1 689 48 730 1 902
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Accounts payable
Other City funds - Special assessment
debt service funds
Sanitary Sewer, Storm Sewer and
Water Project No. 58 $ 100 $ 100
Sewer and Water Project No, 67 2,194
Sewer and Water Project No. 69 900
Storm Sewer Proj ect No. 5 4,162
1964 Street Improvement Project 1,219
Other 5,764� $ 2,412
Contracts payable 78,873 13,312
Retained percentage on contracts 31,978 2,424
Reserves
Contingencies 32,039 692 5,421 $ 1,31.4
�ncumbrances 135,929 50,063
Unencumbered appropriation balance 23,330 897
Deficit (construction costs nat financed) (113,110) (24,902)
Unappropriated surplus $57 588
Total liabilities, reserves
and surplus $2Q4,235 1 689 8 730 $ 1,902
27
Sewer and Sewer and Sewer and Sewer and Sewer and Sewer and Sewer and
Water Water Wa,ter Water Water Water Water
Project Project Pz�oject Project Project ProjecC Project
130. 50 No. 55 No. 59 No. 61 No. 63 No. 65 No. 66
$ 7,893 $ 987 $ 639 $ 691 $ 1,675 $ 277 $ 731
7 893 987 639 691 $ 1,675 277 731
$ 7,893 $ 987 $ 614 $ 691 $ 1,675 $ 277 $ 731
25
7 893 9$7 639 $ 691 1 675 277 $ 731
28
CITY QF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTION FUNDS (CONTIANED)
BALANCE SHEETS - DECEMBER 31, Z964
Sewer and Sewer and Sewer and Sewez and
Water Water Water Water
Project Project Project Froject
No. 67 No. �i9 No.;70 1Vo. 73
ASSETS
Cash $ 82,037 $ 6,692 $(2,241) $( $1)
Account receivable
Other City funds - Niinicipal
State Aid �nd
Total assets 82 037 6 692 $(2,241) S1)
LIABILITIES, RESERVES AND SURPLUS
Lfabilities
Accounts payable
Other City funds - 3pecial assessment
debt service funds
Sanitary Sewer, Storm Sewer and
Water Project No. 5$
Sewer and Water Proj ect No, 67 $ 2,194
Sewer and Water Project No. 69 $ 90Q
St orm Sewer Fro j ec t No. 5
1964 Street Improvement Project
Other L,Sb9 $ 3S3
Contracts payable 3$,332 9,977
Retained percentage on contracts 14,733 998
Reserves
Contingencies
Encumbrances 8,568 18,422
Unencumbered appropriation balance 16,b41 5,792
Deficit (construction costs not £inanced) (31,991) $( 81)
Unappropriated surplus
Total liabilities, reserves
and surplus 82 037 6 692 2 241) $( 81)
29
Sewer and Storm Storm Storm Stoxm Storm Storm
Water Sewer Sewer Sewer Sewer Sewer Sewer
Froj�ct Project Project Project Pro�ect Project Project
No. 74 No. 5 No. 12 No. 43 No. 49 No. 52 No. 53
$( 51) $14,232 $(1,324) $ 1,107 $ 606 $ 412 $ 865
8,647
51) 22 879 1 324) 1 107 $ 606 412 865
$ �,162
1,OC10
2,391
4,815
$ 1,107 $ 606 $ 412 $ 865
51,844
$( 51) E41,333) $(1,324)
$ 51) 22 879 1 324) $ 1,107 606 �412 $ 865
30
CITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTION FUNDS (CONTINUED)
BALANCE SHEETS - DECEMBER 31, 1964
Storm
Sewer 1960 Street
Project Improvement
No, 71 Pro.iect
ASSETS
Cash $19,159 $ �,166
Accounts receivable
Other City funds - Municipal
State Aid Fund
Other
Total assets $19,159 $ 1,166
LIABILITIES, RESERVES AND SURPLUS
Liabilities
Accounts payable
Other City funds - Special assessment debt
service funds
Sanitary Sewer, Storm Sewer and WaCer
Project No. 58
Sewer and Water Project No, 67
Sewer and Water Project No. 69
Storm Sewer Project No. 5
1964 Street Improvement Project
other $ 430
Contracts payable 14,861
Retained percentage on contracts 4,222
Reserves
Contingencies $ 922
Encumbrances 977
Unencumberea appropriation balance
Deficit (construction costs not financed) (1,331)
Unappropriated surplus z1+4
TotaZ liabi.lities, reserves and surplus $19y159 $ 1,166
31
1961 Street 1962 Street 1963 Street 1964 Street 1965 Street
Improvement �nprovement Improvement 7mprovement Improvement
Pro�ect Proiect Proiect _ Proiect _ Proiect
$ 1,839 $(5,099) $ 3,609 $ 8,711 $(8,748)
7,483
1 839 2 384 3 609 8 711 8 748)
$ 1,219
4,786
$ 1,839 $ 2,384 $ 3,609
6,OS5
(3,349) $(8,748)
1 839 2 384 3 609 $ 8,711 $(8,748)
32
GITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTION FUNDS
STATEMENTS OF CASA RECEIPTS ANA DISBURSEMENTS
YEAR ENDED DECEMBER 31, Z9b4
Sanitary
Sewer, Sewer
Storm Sewer a�td
and Water Water
Project Project
Combined R�e�ular No. 58 No. 26
Cash balance January 1, 1964 $ 131,863 13 393 33 490 3 912
Receipts
Bond pro�eeds $ 743,000
Investments matured (cost) 16,000 $16,000
Interest on cert3ficates of deposit
and temporary bonds 12,015 600 $ 1,600
Refunds 87
State and County share of improvement
costs 31,719
Transfer from Municipal State Aid k�nd 77,827
Transfers from special assessment
debt service funcis 16,577
Transfers of costs to Sewer and Water
Utilities Operating �nd 7,055 7,055
Transfer of costs to other
construction funds 54,534
Transfer from Special Iinprovements
Revolving k'und 5,935 5,88Z
Total receipts $ 964,749 22 481 8 655
Total beginning cash and receipts $1,096,612 35 874 42 1�45 3 912
Disbursements
Ca.pital outlay $ 755,221 $ 497 $( 29) $ 3,907
ZYansfer of costs from other
construction funds 54,534
Transfers to corresponding debt
service funds
To pay interest �pplicable to
construction periods 15,630 3,741
Unexpended balance 85,21I 35�377 38,833 5
Total disbursements 910 596 35 874 2 545 3 912
Cash balance December 31, 1964 $ 186,016 $ -0- �( 400) $ -0-
33
Sewer Sewer Sewer Sewer Sewer Sewer
and and and and and and
Water Wat�r Water Water 4�ter Water Water
Project Project Project 1'roject Project Project Proje�t
No. 29 No,T34 No. 36 No. 38 No. 41 No. 48 No. 50
S 9S8 41 617 2 902 . 339 1 967 3 236 7 893
$115,OQ0
4,718
$ 87
$ 1,100 $ 710
�_____46
$ 46 119 71.s 1 lo0 710 � s7
1 004 161 335 4 002 1 049 1 967 � 3,323_ � 7L893
$ 1,004 $112,174 $ 4,002 $ 1,049 $ 284 $ 1,421
431 1,683
1 004 112 605 4 002 1 0l+9 1 967 1 421
� -0- r 48 730 $ "0_ $ _0_ $_�- 1 902 7 893
34
CITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTION FUNDS
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED)
YEAR ENDED DECEMBER 31z 1964
Sewer Sewer Sewer Sewer
and and and and
Water Water Water Water
Project Project Project Project
No. 55 No. 59 No. 61 No. 63
Cash balance January 1, 1964 2 275 1 521 �, • -16 486) 2 892
Receipts
Bond proceeds $ 41,000
Investments matured (cost)
Interest on certificates of deposit
and temporary bonds
Refunds
State and County sha.re oP improvement
costs
ZYansfer from I�nicipal State Ai.d F1xnd
Transfers frrnn special assessment
debt service funds 56 $ 958
Transfers of costs to Sewer and Water
Utilities Operating �nd
TYansfer of costs to other
_ construction funds
1Yansfer from Special Improvements
Revolving Fund
Total receipts 41 0S6 9S8
Total b�ginning cash and receipts 2 275 1 521 24 570 3 $5Q
Disbursement�
Capital outlay $ 1,288 $ $64 $ 22,803 $ 1,342
Transfer of costs from other -
construction funds 18
Transfers to corresponding debt
s�rvice funds
To pay interest appli.cable to
constru�tion peric�ds 1,076 833
Unexpended b�lance
Total disbursements 1 288 882 23 $�9 2 175
Cash balance December 32, 1964 987 639 691 1 675
35
Sewer Sewer Sewer Sewer Sew�r Sewer
and and and and and and Storm Storm
Water Water Water Water Water Water Sewer Sewer
Project Project Project Project Project Project Project Project
No. 65 No. 66 No. 67 No. 69 No. 70 No. 74 No. S No. 6
1 057 26 891) 1 796)
$12,000 $195,000 $80,000 $185,000
31,719
77,827
$ 1,796
12 000 195 Q00 �0 000 294 546 -1 796
1 057 '1� 000 195 000 $4 000 267 655 $ -0-
$ 4�0 $�.ln 134 $ 638 253 $7�,308 $ 29 2�a1 $ 51 $2538423
�a9 a 7�.0
300 l�5
780 $119269 $112s9E�3 $73�308 $ 2,2�+Y $ Sl $253,423
$ 277 331 $2 037 � 6 692 �2 2�1) 51) $ 14,232 $, �0-
36
CITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT CONSTRUCTION FUNDS
STATENSENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED)
YEAR ENDED DECEMBER 31, 1964
Storm Storm Storat Storm
Sewer Sewer Sewer Sewer
Project Project Pro3ect Project
No. 12 No. 40 No. 43 No. 49
Cash balance January 1, 1964 1 324) 362 745 634
Receipts
Bond proceeds
Investments matured (cost)
Interest on certificates of deposit
and temporary bonds
Refunds
State and County share c�f improvement
costs
Transfer from Municipal State Aid F1�nd
Transfers from special assessment
debt service funds $ 826 $ 1,235
T`ransfers of costs to Sewer and Water
Utilities Ope�cating �t.ind
1Yansfer o£ costs to other
construction funds
Transfer from Speci�l Irnprovements
Revolving Fund
Tot�l receipts 826 1 235
Tota1 beginning cask� and receipts 1 324) 1 1$8 1 980 634
Disbursements
Capi.tal outlay $ 1,188 $ 36 $ 28
Transfer �f costs fxom csthex°
ca�nstruction funds
Transfers to cmr���ponding debt
sea-vi�e funds
To pay intexest �pplicable to
construction periods 837
Unexpended balan�e
Total disbursements 1 188 873 28
Cash balance December 31s 1964 $ 1 324) $ _0_ 1 107 606
37
Storm Storm Storm Storm SCorm Stcarm Storm
Sewer Sewer Sewer Sewer Sewer 3ewer Sewer
Project Project Project Project Project Project Project
No. 52 No. �3 No. 56 No. 62 Nca. 64 No. 68 No. 71
422 2 05�+ $,( 8) 18) 7�)
$50,000
$ 4a 021 $ 3,209
$ 18 $49,710
��
4 02Z ,� 8 18 3 209 49 710 50 000
422 6 075 $ —p° $ —0— 3 134 9 710 50 000
$ 10 $ 501 $ 2993G� $49,710 $299045
3s(�10 1s796
1a�99 200
10 5 210 3 134 9 710 30 841
412 ffi65 $ �0_ $ mOp � -q_ $ —0_ 19 159
38
CITY OF FRIDLEY, MINNESOTA
SPE�IAL ASSESSMENT CONSTRUCTION FUNDS
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED)
YEAR ENDED DECEMBER 31, 1964
Storm 1959
Sewer Street
Project Improvement
No. 73 Proiect
Cash balance January 1, 1964 3 675
Receipts
Bond proceeds
Investments matured (cost)
Interest on certificates of deposit and
temporary bonds
Refunds
State and County share of improvement
costs
Transfer from Municip�.l State Aid Fund
Transfers £rom special assessment
debt service funds
7.Yansfers of costs to Se�er and Water
Utilities Operating Fund
Transfer of costs to other
constructic�n funds
Transfer fraaa Special Improvements
Revolving Ftxnd
Total receigts
Tot�al beginning cash and receipts 3 675
Aisbursem�nts
Capital outlay $ 81 $ 3,583
Transfer of cost� from cather
construction fund�
Transfers to ccarresponding debt
service funds
To pay intere�t appl3.cable to
construction pexiods
Unexpended balance 92
Total disbursements 81 3 675
Cash balance December 31, ,1964 81) $ _0_
39
1960 1961 1962 1963 1964 1965
Street Street Street Street Street Street
7mprovement 7mprovement Improvement Improvement Improvement ?mprovement
Proiect_._._ P�oject Praiect ProiecC Pro7ect ___ Proiect
1 666 1 905 39 656 9 890
$65,000
$ 5,097
$ 4,462
I,856 1,154
6 953 5 616 65 000
1 666 1 905 6 609 15 506 65 000
$ 500 $ 66 $389492 $ 98514 $56,289 $ 8,748
38995 2,383
9�2�1
500 66 51 708 11 897 56 289 8 748
1 166 1 39 S 499) 3 609 s aii 8 748)
40
CITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT DEBT SERVICE FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Improvement 7mprovemenC
Bonds of Bonds of
Combined Re�ular 1960 1962
ASSETS
Cash $ 1,033,903 $ 223,324 $ 245,776 $( 5,800)
Cash with fiscal agents 538,824 2,889 109,178 44,663
Investments, at cost - City of
Fridl.ey Bonds (Page 86) 937,000 937,000
Accounts receivable - Otb:er City
funds, special assessment con-
struction funds
Sa.nitary Sewer, Storm Sewer
and Water Project No. 58 100
Sewer and Water Project No. 67 2,194
Sewer and Water Project No, 69 900
Storm Sewer Project No. 5 4,162
1964 Street Improvement Project 1,219
Accxued interest receivable 47,297 20,951 8,358 354
Taxes receivable
Delinquent 983
Defexred 3,046,337
Special assessments receivable
Delinquent 449,615 106,776 68,814 56,399
Deferred
Principal 4,053,447 940,822 960,314 150,248
Interest 1,712,097 283,919 539,002 57,946
Amount to be provided by future
revenue 644_,042 1,140 139
Total assets $�.2,472,120 �2,515,681 $1,932�,582 $303,949
L?ABILITY, RESERVE AND SURPLUS
Liability
Bonded indebtedness
l�tured bonds and interest $ 7,224 $ 2,889 $ 441
Future maturities
Bonds (Page 90) 8,347,004 1,720,000 $1,410,000 255,000
Interest 1,998,7�+8 416,265 522,582 48,508
Reserve for unre$lized revenue 983
Reserve for retirement of bonds 2,118,165 376,527
Total liability, reserve
and surplus $12,472,120 $2,515,681 $1,932,582 303 949
41
SaniCary
Sewex, Sewer Sewer Sewer Sewer
Stozm Sewer and and and aad
Improvement 7anprovement and Water Water Water Water Water
Bonds of Bonds of Pro3ect Project Project Project Project
1963 1964 No. S8 . No. 4$ No. 55 No. 59 No. 61
$ 120,908 $ 109,035 $( 127) $ 301,896 $15,733 $ 4,777 $ 2,220
46,808 19i,172 144,Z14
100
3,575 3,325 10,734
983
755'S00 2a 2l+29 237 48�600
54,829 117,689 30,338 10,071 S24
S31,292 610,,561 12,153 623,222 45,748 10,140 38,954
137,586 280,664 4,386 300,169 25,343 6,085 17,111
2�,488
$1,650�498 $3,555,666 $41�000 $1,459�7 3 $96�,895 21 52b $58,285
$ la�b75 $ 2,�19
$ 975,OOp 2,0259 000 $4.09 000 1,070,000 $70,000 $15,000 $4�1,000
277,238 47�,792 1,000 194,815 1,750 37S 2,768
983
_ 3989 260 1 0�53,�16 1919 839 25s 1/�5 6,251 149 517
�1,650949$ $3,555,666 1 000 $1�l+59,073 96 895 $21�526 58 285
42
CITY OF FRIDLEY,. MINNESOTA
SPECIAL ASSESSMENT DEBT SERVICE FUNDS (CONTINUED)
BALANCE SHEETS - DECEMBER 31� 1964
Sewer and Sewer and Sewer and Sewer and
Water Water Water Water
Project Project Project Project
No. 63 No. 65 No. 66 No. 67
ASSETS
Cash $(I.,375) $< 150) $ 3,348
Cash with fiscal agents
Tnvestments, at cost - City of
Fridley Bonds (Page 86)
AccounCs receivable - Other City
funds, special assessmenti con-
struction funds
Sanitary Sewer, Storm Sewer and
Water Proj ect No. 58
Sewer and Water Project No. 67 $ 2,194
Sewer and Water Project No. 69
Storm Sewer Project No. 5
1964 Street Isnprovement Project
Accrued interest receivable
Taxes receivable
Aelinquent
Deferred
Special assessments receivable
Delinquent
Deferred
Principal 25,961 8,899 8,330
InteXest 17,201 5,873 5,373
Amount to be provided by future revenue 210,356
Total assets 1 7�7 14 622 17 051 $212LS50
ZIABILITY, RESERVE AND SURPLUS
Liability
Bonded indebtedness
Nt�tured bonds and interest
Future matuxities
Bonds (Page 90) $25,000 $ 9,000 $12,000 $195,000
Interest 1,250 450 1,080 17,550
Reserve for unrealized revenue
Reserve f�r retirement of bonds 15,537 5,172 3 971
Total liability, reserve
and surplus 1 787 14 622 17 051 212 S50
43
Sewer and Storm Storm Storm Storm 1963 1964
Water Sewer Sewer Sewer Sewer Street Street
ProjecC Project Project Project Project Lnprovement Improvement
No. 69 No, 5 No. 53 No. 64 No. 71 Pro9ect Pro_iect
$11,350 $( 97S) $ 3,963
$ 90p
$ 4,162
$ 1,219
4,175
30,074 8,942 47,787
18,$29 1,409 11,201
86,300 197,488 54 500 69�631
87 200 201 650 64 428 9 376 54 500 62 951 $70,850
$80,000 $1$5,000 $4�5,000 $ 8,000 $50,000 $52,000 $65,000
7g2p0 16,650 1,125 400 4,500 2,600 5,850
� 18,303 976 $,351
$$7,2Q0 201 65Q 64 428 9 376 54 500 62 951 70 854
44
CITY OF FRIDLEY� MINNESOTA
SPECIAL ASSESSMENT DEBT SERVICE FUNDS
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS
J YEAR ENDED DECEMBER 31? 1964
Improvement
Bonds
Combined Regular of 1960
Cash balance January 1, 1964 $1,661,934 $ 748,589 188 563
Receipts
Special assessments $1,058,330 $ 225,84b $188,898
General property taxes 25,553
Interest on certificates of deposit and
temporary bonds 77,058 46,516 3,712
Escrow deposits 2,375 2,375
Investments matured (cost) 247,000 247,000
Transfers from Special Improvements
Revolving �1znd
Service connection assessment collections 31,�+40
Amount to be assessed in future years 3,859
To close debt service funds 50,135
Transfers fram corresponding construction funds
To pay bond principal
To pay interest applicable to construction
periods 15,630
To close construction funds
(unexpended balances) 49,834 S
Transfer from Regular Special Assessment
Construction Fund - to close fund 35,377 35,377
Transfers from debt service funds - bond
issues refunded �05,120
Transfers from Sewer and Water Utilities
Operating �nd 51,137 5,312
Total receipts $1,852,848 $ 557,114 197 927
Total beginning cash and receipts $3,514,782 $1,305,703 386 490
Disbursements
Bonds $ 969,000 $ 141,000 $ 80,000
Intexest 355,610 71,387 58,355
Miscellaneous (including fiscal agents
service charges) 1,721 431 246
Purchase of investments 788,000 788,.000
Bond sale expenses 9,086
Refunds of special assessments 518 330
Costs for defense of assessments 1,783 1,783
1`ransfer to escrow agent 51,903 ,
Transfer of escrow deposits to Special
Improvements Revolving Fund $1,561 81,561
Transfers Co corresponding construction funds
to finance construction 16,577
Transfers to Refunding Bonds of 1964 205,120
Total disbursements �2,480,879 $1,082,379 140 714
Cash balance December 31, 1964 $1,033,903 $ 223,324 $245,776
45
Sewer and
Sewer Water Sewer Sewer Sewer
Iunprovement Improvement Refunding and Water Projects and Water and Water and Water
Bands Bonds Bonds Project Nos. 21 Project Project Project
af 1962 0£ 1963 of 1964 No. 13 and 22 No. 48 No. 50 No. 55
13 608 352 492 45 336 2 353 261 447 (2 016) 11 490
$ 73,422 $186,732 $11Q,171 $ 2,253 $14�,280 $191,776 $23,118
3,582 21,971
1,875 5,$7� 6,596 12,484
31�440
$22,058
837 431 3,99�
1a775 9n22I
205�120
29 A 6�+4 16 g 181
77 909 �26 26�a 0� 695 2 253 1� 280 204 260 22 058 23 118
91 517 578 d�6 0� 6�5 �7 5�9 16 633 465 707 20 0�+2 34 608
$ 809000 $2558000 $145�000 $120,000 $20,000 $15,000
1�92�� 61a71$ 89,250 438390 42 3,875
133 232 �21 258
9 8 086
2S 163
51,903
3,871
140��98 47 589 16 633
97 317 57 ��8 295 660 G�7 �89 16 633 163 $11 20 0�2 18 �75
�5,�00) 120 908 109 035 � "p- $ -0- 301 $96 $, -0- $15�733
46
CITY OF FRIDLEY, MINNESOTA
SPECIAL ASSESSMENT DEBT SERVICE FUNDS
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS (CONTINUED)
YEAR ENDED DECEMBER 31, 1964
Sanitary
Sewer, Sewer Sewex
Storm Sewer and Water and Water
and Water Project Project
Proyect No. 58 No. 59 No. 61
Cash balance January 1, 1964 6 261
Receipts
Special assessments $ 2,690 $ 5,416 $ 2,122
General property taxes
Interest on certificates of deposit and
Cemporary bonds
Accrued interest on bonds sold
Investments matured (cost)
Transfers from Special Improvements
Revolving �nd
Cost of .service connection assessments
Amount to be assessed in future years 3,859
To close debt sexvice funds
Transfers from corresponding construction funds
To pay bond principal
To pay interest applicable to construction
periods 3,741 1,076
To close construction funds
(unexpended balances) 38,833
ZYansfer from Regular Special Assessment
Construction Ftund - to close fund
7.Yansfers from debt services funds - bond
issues refunded
TYansfers from Sewer and Water Utilities
Operating Fhnd
Total receipts 49 123 5 416 3 198
Total beginning cash and receipts 49 123 11 677 3 198
Disbursements
Bonds $ 45,000 $ 6,000
Interest 4,250 900 $ 922
Miscellaneous (including fiscal agents
service charges)
Purchase of investments
Net decrease in escrow deposits
Refunds of special assessments ,
Costs for defense of assessments
Transfer to escrow agent
Transfer of escrow deposits to Special
Improvements Revolving Fund
Transfers to corresponding construction funds
to fintance construction 56
firansfers to Refunding Bonds of 1964
Total disbursements 49 250 6 900 978
Cash balance December 31, 1964 ( 127) 4 777 2 220
�a
1963
Sewer Sewer Sewer Storm Storm Storm Storm Street
and Water and Water and Water Sewer Sewer Sewer Sewer Improve-
Project Project Project Project Project Project Project ment
No. 63 No. 65 No. 66 No. 49 No. 52 No. 53 No. 64 Proiect
2 197 2 259 29 355
$ 3,213 $17,317 $ 2,434 $ 8,642
$14,203 $13,874
$ 833 $ 300 135 1,699 200 2,383
833 300 3 348 14 203 13 874 19 016 2 634 11 025
833 300 3 348 16 400 16 133 48 371 2 634 11 025
$16,900 $16,000 $30,000
$ 1,250 $ 450 400 133 3,000 $ 400 $ 2,600
958 4s021 3,209 4,462
2 208 450 16 400 16 133 37 021 3 609 7 062
1 375) 150) 3 348 $ _0_ $ _0_ 11 350 975) 3 963
49
CITY OF FRIDLEY� MINNESOTA
SPECIAL ASSESSMENT DEBT SERVTCE FUNDS
DEBT SERVICE REQUIREMENTS
DECEMBER 31, 19b4
Bond
Year principal InCerest ToCa1
1965 $ 830,000 $ 316,761 $ 1,146,761
1966 1,257,Op0 273,412 1,530,412
1967 629,000 223,73Q 852,730
Z968 614,000 201,543 815,543
1969 5$9,Q00 179,785 768,785
1970 589,000 15$,342 747,342
1971 579,Q00 I36,$50 715,850
1972 584,000 115,132 699,132
1973 539,000 93,930 632,930
1974 407,400 76,043 483,043
1975 370,000 61,433 431,433
1976 275,400 48,347 323,347
1977 225,Q00 37,410 262,410
1978 220,000 29,070 249,070
I979 220,000 20,820 240,820
1980 160,000 13,580 173,580
1981 110,000 $,230 118,230
1982 115,000 3,665 11$,665
19�3 35,400 665 35,665
$8,347,000 $1,998,748 $10,345,748
50
CITY OF FRIDLEY, MINNESOTA
GENERAT� DEBT SERVICE FUNDS
BALANCE SHEETS - DECEMBER 31i 1964
Building Park Bonds City
Bonds of 1962 Hall
Combined of 1951 and 1963 Bonds
SA SETS
Treasurer cash $ 16,688 $2,168 $ 14,520
Cash with fiscal agent 8,370 8,370
Account receivable - City Ha11
Bond Fund 45,000 $45,000
Taxes receivable
Delinquent 1,559 40 1,519
Deferred 346,700 346,700
Amount Co be provided by future revenue 4,050 4,050
Total assets 22 367 $2,208 $371,1,09 9 050
LIABILITIES. RESERVES AND SURPLUS
Liabilities - Bonded indebtedness
Matured interest $ 850 $ 850
Future maturities
Bonds (Page 91) 340,000 295,000 $45,000
Interest 58,470 54,420 4,050
Reserves
Unrea3.ized revenue 1,559 $ 40 1,519
Retirement of bonds and interest 19,320 19,320
Unappropriated surplus 2,168 2,168
Total liabilities, reserves
and surplus $422,367 2 20$ 371 109 9 050
STATEM�NTS OF CASH RECEIPTS ANA DISBURSEMENTS
YEAR ENDED DECEMBER 31 1964
Treasurer cash balance January 1, 1964 3 903 2 015 1 88$
Receipts
Current property taxes $ 32,376 $ 32,37b
Delinquent property taxes 222 153 69
Total receipts 32 598 153 32 445
Total beginning cash and
receipts 36 501 2 168 34 333
Disbursements
Bonds $ 10,000 $ 10,000
Interest 9,765 9,765
Fiscal agents service charge 48 48
Total disbursements 19 813 19 813
'Treasurer cash balance pecember 31, 1964 16 688 2 168 $ 14,520
51
CITY OF FRIDLEX, MINNESOTA
GENERAL DEBT SERVTCE FUNDS
DEBT SERVZC� REQUIREMENTS
DECEMBER 31, 1964
Bond
Year principal Interest Zbtal
1465 $ 15,000 $ 9,460 $ 24,460
1966 70,000 12,895 82,895
1967 25,000 8,075 33,075
1968 30,000 7,225 37,225
1969 30,000 6,295 36,295
1970 30,000 5,335 35,335
1971 35,004 4,237 39,237
197x 40,OOfl 2,945 42,945
1973 40,000 1,565 41,565
1974 25,000 438 25,438
340 000 58 47.0 398 470
52
CITY OF FRIDLEY,� MINNESOTA
TRUST AND AGENCY FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Publ ic
Firemen's bnpZoyees'
Relief Retirement Drivera
Aesociation Association License
Combined F1ind F1ind �nd
ASSETS
Cash $ �,356 $ 7,356
Accounts receivable
Other City funds
Munfcipal Liquor Opexating �nd 6,998 6,998
Sewer and Water Utilities
Operating FLnd 4,352 4,352
Delinquent taxes receivable 2,015 $ 864 1,151
To be provided by future revenues 24,664 24,664
Total assets 5 385 864 44 S21
LIABZLITX AND RESERVE
Account payable
Public F�nployees' Retirement Associat�on $43,370 $43,370
Reserve for unrealized revenue _2 015 864 1,151
Total liability and reserve $45,385 $ 864 44 521
STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS
YEAR ENDED DECEM$ER 31, 1964
Cash balance January 1, 1964 2 506) 2 506)
Receipts
Current taxes $30,517 $11,896 $18,621
Delinquent taxes 450 202 248
State 2% insurance premium tax 4,809 4,809
License fees 1,504 $ ].,504
Transfers from other City funds
Nbanicipal Liquor Operating Fund 9,998 9,998
Sewer and Water Utilities Operating �Lnd b,446 6,,4G6
Total receipts 53 724 16 907 35 313 1 504
Total beginning cash and
receipts 51 218 16 907 32 8Q7 1 504
Disbursements
Firemen's Relief Association $16,907 $I6,907
Public k�nployees' Retirement Association 25,451 $25,451
Anoka County 1,504 1 504
Total disbursements 43 862 16 907 2S 451 1 504
Cash balance December 31, 1964 $ 7 356 $ -0- 7 356 $ _0-
53
CITY OF FRIDLEY, MINNESOTA
MUNICIPAI. LIQUOR FUNDS
BALANCE SHEETS - DECEMBER 31, 1964_
Deb t
Operating service
Combined Pa e 5�+ (Page 64)
ASSETS
Cash $152,483 $116,241 $ 36,242
Cash with fiscaZ agents 6,557 6,557
Account receivable 100 - lOQ
Accrued interest recea.vable 725 72S
Inventories, at cost 146,266 146,266
Prepaid expenses b33 633
Amount to be provided by future revenue 110,479 110,479
Fixed assets, at cost or appraised value,
less accumulated depreciation 254,688 254,688
Total assets $671,931 518 653 153 278
I�IABILI`TIES RESERVES AND SURPLdJS
Liabilities
Accounts payable
Othex City fund� $ 6,998 $ 6,99$
Other 6,S90 6,590
Bonded indebe�dne�s
Matux��d bo?ads a�d interest 68 557 $ 6,557
Futur� m�tu�°ities
Bor�ds �T'ag� 9l.} I25y 000 Z25,000
Ittt��°�sr 21a 721 21'721
Reserve f�r reti�°ean��at �f revenu� bc�nd� 759329 75,329
Gurr�nt sur�alu� 2509 3?7 250,377
Investa�en� in ��x�d assets 1�9,359 179s359
����1 ��.ab�,Zities9 res�rv�s
and surplus $671,931 518 653 153 278
54
CITY 0� FRIDLEY, MINNESOTA
MUNICIPAL LIQUOR OPERATING FUND
BALANCE SHEET - DECEMBER 31, 1964
(with prior year amounts for comparison)
1964 1963
ASSETS
CURRENT ASSETS
Cash $116,241 $ 94,863
Account receivable 100
Accrued interest receivable 725 816
Inventories, at cost 146,266 133,764
Prepaid expenses 633 1J104
Total current assets 263 965 230 547
FIXED ASSETS, at cost
Land and improvements $ 21,427 $ 17,852
Bufldings 209,194 20$,418
Sa.gns 8,414 8,716
�rniture and equipment 87,421 74,246
Automobile 2,070 2,Q70
Total cost $328,526 $311,302
Less - accumulated depreciation 73,838 63,303
Total �ixed assets (net) 254 688 247 999
TOTAL ASSETS 518 653 $478,546
LIABILITIES AND RETAINED EARNINGS
CURRENT LIABILITIES
Accounts payable
Public Ea►ployees' RetiremenC Association Fund $ 6,998 $ 9,998
Other 6,590 4,$45
Total current liabilities 13 588 14 843
RESERVE FOR RETIREMENT OF REVENUE BONDS IS 329 90 651
RETAINED EARNINGS AND CURRENT SURPLUS
Retained earnings $�+29,736 $373,052
Less invesCmenC in fixed assets (net fixed
assets less reserve for retirement of revenue
bonds) 179,359 157,348
Total current surplus 250 377 215 704
INVESTMENT IN FIXED ASSETS 179 359 157 348
�OTAL LIA$ILITIES, RESERVE AND RETAINED EARNING5 518 653 478 546
55
CITY OF FRIDLEY, MYNNESOTA
MUNICIPAL LIQUOR OPERATING. FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED DECEM$ER 31, 1964
(with prior year amounts for camparison)
1964 1963
Percent Percent
of sales of sa2es
Sa.les
Off sale $689,981 71.93 $648,341 72.12
On saZe 269,243 28.47 250,646 27.88
Total sales $959,184 100.00 $898,987 100.00
Cost of sales 623,378 64.99 585,969 65.18
Gross prafit $335,806 35.01 $3I3,018 34.82
Operating expenses 209,�630 21.$6 197,995 22,02
Operat3.ng profit $126,176 13.I5 $115,023 12.80
Other incame (including vending
machine sales� 7,823 .82 4,438 .49
Other expenses 1 416) � .15) 1 304) .15)
Net in�c�nne $132,5�3 13.82 $118,157 13.14
R+etained earnings beginning of year 373,052 320,389
Prior ye�rs adjustments
1. Adju�tment �f fixed asset� and
accumulated depreciatic�n as de�
texttbined by a comple�e physical
3nventoz�y of fixed assets owned ( 4,340)
2. Cox��°�cCi�an csf erxo�s in prior
ye�.r� utility bills ( 1,947}
App�ropria�ivn transfers to other
Cit� £unds
Genera�. �ind (�0,Q00) (50,000)
Nlunicipal I�iquor Debt Service
Fu�.d (21,220) (16,976)
Equity in�rea��e in f�,xed assets
acquir�d by issu�n�e of revenu� bonds 15,321 7,769
�tetained earnings end of year �29 736 373 052
56
CITY OF FRIDLEY, MINNESOTA
MUNICIPAL LIQUOR OPERATING FUND
STATEMENTS OF INCOME FOR INDIVIDUAL STORES
YEAR ENDED DECEMBER 31, 1964
Total
all Off sale
stores Total I�*
Sales $959,184 $689,981 $ 6,022
Cost of sales 623,L378 523,970 4,594
Gross profir $335,806 $166,011 $ 1,428
PercenC of sales 35.01% 24.Ob% 23.71°/,
Operating expenses $2Q9,630 $ 79,381 $ 2,630
Percent of sales 21.8b% 11.50°Io 43.67° )
operating income $126,176 $ 86,630 $( 1,202)
Percent of sales 13.15% 12.56% 19.96%)
Other income
Cash discounts $ 2,313 $ 1,903 $ 23
Check cashing fees 916
Vending machine commissions 2,546 65
Interest 2,048 1,397
Total oCher income 7 $23 3 365� 23
Other expenses - Loss (Gain) on dis-
position of fixed assets 1 416 1 416 l+28
Net income $132,583 $ $8,579 $( 1,607�
Percent of s�.les 13.82°Jo 12.84% 26.69%)
�' Operations at Store No. 1 were discontinued on February 15, 1964
57
Stores On Sale Stares
2 3 4 Total 22 33
$253,013 $160,457 $270,489 $269,203 $121,315 $147,888
185.480 122n723 211,173 , 99,408 48,251 51,157
$ 67,533 $ 37,734 $ 59,316 $169,795 $ 73,064 $ 96,731
26.69% 23.52% 21.93rya 63.07°1, 60.23% 65.41%
$' 26,�630 $ 21,010 $ 29,111 $130,249 $ 54,789 $ 75,460
10.53% 23,09% Z0.7b% 48.38% 45.16% 51.03%
$ 40,903 $ 16,724 $ 30,205 $ 39,546 $ 18,275 $ 21,271
16.16% 10.43% 11.17% 14.69% 15.07% 14.38%
$ 766 $ 409 $ 745 $ 410 $ 191 $ 219
916 649 267
65 2,481 1,126 1,355
623 305 469 651 3�a1,_ 310
1 389 7T�+ 1 239 4 458 2 307, 2 151
$2) 1 070
$ 42,37�+ $ 17,438 $ 30,374 $ 44,004 $ 20,582 $ 23,422
16.75% 10.87% 11.237e 16.35% 16.97% 15.$4%
58
CITY OF FRIDLEY, MINNESOTA
MUNICIPAL LIQUOR OPERATING FUND
STATEMENT OF GROSS PROFIT
YEAR ENDED DECEMBER 31, 1964
Mix and
Tatal Li uor Beer miscellaneous
Off sale
Sales $689,981 $449,430 $222,907 $ 17,644
Cost of sales 523,974 338,057 173,379 12,534
Gross profit 166 O11 111 .373 49 528 5 110
Percent of sales ��- �'+�`T$- -^� ��b-'
On sale
Sa.les $269,203 $175,046 $ 89,038 $ 5,119
Cost of sales 99,I+08 44314$ 50,777 4,483
Gross profit 169 795 1�0 $98 38 261 636
Percent of sales ��:ZST-" -`"�+:T$- "�- �;1+�'"
Combined aff and on sale
Sales $959,184 $624,476 $311,945 $ 22,763
Cost of sales 623,378 382s 205 224,156 17,017
Gross profft 335 806 242 271 87 789 S 746
Percent of sales ��' �'$`� �'g;�T- �`�;'�T�"
59
CITY OF FRIDLEY, MINNESOTA
�ItJNICIPAL LIQUOR OPERATING FUND
STATEMENT 0�' OPERATING EXPENSES
YEAR ENDED DECII�IBER 31, 1964
(with prior year amounts for comparison)
1964 1963
Percent PercenC
of sales of sales
Salaries and wages
Managers $ 1$,084 1.89 $ 9,593 1.07
Clerical 8,380 .87 7,059 .79
Bartenders, waitresses, and
off sale clerks 102,749 10.71 108,797 12.11
Janitor $,874 ,93 7,794 .87
Contributions to Fublic Hmployees'
Retirement Association 6,999 .73 7,733 .$6
Hospitalization insurance 1,438 .15 1,466 .16
Glassware, ice and bar supplies 7,24b .76 3,005 .33
Laundry 1,816 .19 1,722 .19
Cleaning and waste:_ removal 833 .09 796 .09
Itent 3,958 .41 3,360 .37
Utilities 9,471 .99 10,374 1.15
Maintenance and repairs 6,175 .6�+ 5,542 .62
Insurance 9,618 1.Q0 9,709 7..08
Depreciation 13,328 1.39 12,778 1.42
Te�ephone 1�167 .12 1,251 .14
Nlileage 776 .0$ 599 .07
Independent accounting and
auditing 1,150 .12 1,250 .14
Licenses 107 .O1 287 .Q3
Alaxm service 3,104 .32 1,960 .22
Ca.sh register expenses 805 .08 66$ .07
Office suppl3es 246 .03 218 .02
CZeaning supplies 2,263 .24 1,197 .13
Cash short (over) 36 ( 1S4) ( .02)
Miscellaneous 196 .02 S25 .06
Uncollectible checks 542 .06 466 .05
Breakage 269 .03
Total 209 630 21.86 $197L995 22.02
60
CITY OF FRIDLEY� MINNESOTA
MUNICIPAL LIQUOR OPERATING FUND
STATEMENTS OF OPERATING EXPENSES FOR INDIVIDUAL OFF SALE STOltES
YEAR ENDED DECEMBER 31, 1964
Total
Percent
of eales
Salaries and wages
Managers $ 6,030 .87°!,
Clerical 4,848 .70
Off sale clerks 37,317 5.41
Janitor 2,466 .36
Contributians to Public l�ployees' Retirement
Association 2,557 .37
Hospitalization insurance 599 .09
Glassware, iee and bar supplies 1,282 .19
Laundry 308 .OS
Cleaning and waste. removal 156 .02
Rent 3,958 .57
Utilities 3,800 .55
Maintenance and repairs 1,953 .28
Insurance 5,718 .$3
Depreca.ation 4,029 .58
Telep.hone 7 58 .lJ.
Mi.leage and automobile expenses 156 .02
Independent accounting and audiCing 750 .11
Licenses 81 .O1
Alarm service 1,551 .22
Cask► register expenses 258 .04
Office supplies 144 .02
Cleaning supplies 479 .07
��la _Fover) ( 118) ( .OZ)
M�scellaneous 172 .Q3
Uncollectible checks 39 .O1
Breakage 90 .O1
Total $79,381 11.50%
61
Stores
i 2 3 4
Percent Percent Percent Percent
of sales af sales of �sales ,.of sales
$ 234 3.89� $ 1,932 .76% $ 1,932 1.20% $ 1,932 .71%
210 3�4�:N 1,581 .63 1,603 1.00 1,454 .54 ,.
890 14.78 14,566 5.76 9,127 5.69 12,734 4.71
100 1..66 973 .38 1,174 .73 219 .08
79 1.31 960 .38 698 .43 820 .30
11 .18 261 .10 142 .09 185 .07
551 .22 299 .19 432 .16
14 .23 51 .02 96 .06 147 .05
156 .06
200 3.32 3,758 1.39
55 .91 876 .35 1,420 .8$ 1,449 .54
32 .53 1,04$ .41 159 .10 714 .26
343 5.70 1,768 .70 1,889 1.17 1,718 .64
138 2,29 1,054 .4.2 1,425. .89 1,412 .52
53 .88 15$ .06 249 .16 298 .11
5 .08 50 .02 50 .03 51 .02
150 2.49 200 .08 200 .12 200 .07
27 .O1 27 .02 27 .O1
15 .2S 415 .16 384 .24 737 .27
6� .03 122 .08 68 .03
7 .12 41 .02 55 .03 .41 .02
38 .02 3 438 .16
( 2) ( .03) ( 7) ( 65) ( .0�►) ( 44) ( .02)
90 1.49 I2 12 .O1 58 .02 .
6 .10 33 .O1
7 9 .O1 74 ,03
2 630 43,67% 26 630 10.53% 21 O10 13.09°/0 29 111 10.76%
63
CITY OF FRIDLEY, MINNESOTA
MUNICIPAL LIQUOR OPERATING FUND
sTATEMENTS OF OPERATTNG EXPENSES FOR INDIVIDUAL ON SALE STORES
YEAB ENDED DECEMBER 31, 1964
Stores
Total 22 33
Percent Percent Percent
of sales of saZes of sales
Salaries and wages
Managers $ 12,054 4.48% $ 6,027 4.97% $ 6,027 4v08%
Clerical 38532 1.31 1,724 1.42 1,808 1.22
Bar�ende�s and
waitresses 65,432 24.30 28,121 23.18 37,311 25.23
Janit�r 6,408 2.38 2,860 2.36 3,548 2.40
Contribu��,ons to Public
gnpl�yees� Retirement
, Assoc�ation 4,442 1.65 1,968 1..62 2,474 1.67
Hospitaliza�fon insurance �39 .31 325 .27 514 .35
Gla.s�ware, ice and bar
supp2ies Sy964 2.21 1,52$ 1.26 4,436 3.00
Laundary 1,S0� .56 681 .56 827 .56
Cleani�cg and w�ste reu��v�l 677 .25 335 .28 342 .23
U�ili,ti,e� 5,671 2.11 2,245 1.85 3,426 2.32
l�i�tea�azc� �.�d �°ep�i�'� a'+,222 1.S7 19468 1.21 2,754 1.86
��ur�sz�� 3,900 1.�5 1,770 1.46 2,130 1.44
Depreciata.on 9,299 3.�5 3,163 2.61 6,136 4.15
�el�pkas�x�e 409 .15 15� .12 257 .17
kLtl�a�g� and. �.���an�lail�
expe�i��� 6�0 .�� 310 .26 310 .21
�d���raclent ���ouaa��.ng �.nd
�ud�.��,�.g 4.00 .15 200 .16 200 .14
L3.��aas�� 26 .O1 13 .QI 13 .Ol
Al�r� se�ra,�� 1,5�3 .S� 645 .53 908 .61
�sh ��g��t�r ���en��s 5�3 .20 122 .10 425 .29
' Offi�e �u�p1��s 102 .04 51 .04 51 .03
�lean��.g �A�z��I��� 19�$4 .66 �89 .48 1,195 .81
���a ��a��t 15� .O�a �6 .04 10$ .07
Mis�ell�ne�us 2�+ .O1 12 .O1 12 .O1
Unc�ll��tital� ��ae��s 503 .19 365 .30 138 .09
Breakage 179 .07 69 .06 110 .07
Tot�.l $13092�9 4$.38% 5�a 789 45.16°!0 $75,460 51.02%
64
CITY OF FRIDLEY� MINNESOTA
MUNICIPAL LIQUOR DEBT SERVICE FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Principal
Combined and interest Reserve
ASSETS
Treasurer cash $ 36,242 $ 8,554 $27,688
Cash with fiscal agent 6,557 6,557
Amount to be provided for debt retirement �110,479 110�479
Total assets 153 278 $125,590 27 688
L��BILTTIES
Bonded indebtedness
Matured bonds and interest $ 6,557 $ 6,557
�iture maturities
Bonds .(Page 91) 125,000 119,033 $ 5,967
Interest 21,721 21,721
Total liabilities 153 278 125 594 $27,688
5TATEMENT5 OF TREA.SURER CASH RECEIPTS AND DI5BURSEMENTS
YEAR ENDED DECEMBER 31. 1964
Treasurer cash balance January 1, 1964 37 065 10 417 26 6G8
Receipts
Transfers from Municipal Liquor
Operating F1ind $ 21,220 $ 21,220
Interest income 1,040 1 040
Tota1 receipts 22 260 21 220 1 040
Total beginning cash and receipts 59 325 31 63� 27 688 e
Disbursements
Bond principal $ 17,000 $ 17,000
Bond interest 6,044 6,044
Fiscal agent service charge 39 39
Total disbursements 23 083 23 083
1Yeasurer cash balance December 31, 1964 $ 36z242 8 554 27 688
65
CITY OF FRIDLEY, MINNESOTA
MUNICIPAL LIf,�,UOR DEBT SERVICE FUNAS
DEBT SERVICE REQUIREMENTS
DECEI�ER 31, 1964
�
Bond
Year principal Interest Total
1965 $ 17,000 $ 5,348 $ 22,348
1966 18,000 4y651 22,651
1967 18,000 3,908 21,908
1968 189000 3,126 21,126
1969 18,000 2,344 20,344
1970 18,000 1,563 19,563
1971 18,000 781 18,781
125 000 21 721 146 721
r
' 67
CITX OF FRIDLEY. MINNESOTA
SEWER AND WATER UTILITIES FUNDS
$ALANCE SHEETS - DECEMBER 31, 1964
Debt
OperaCing service
Combined Pa e 68 Pa e 78
ASSETS
Cash $ 183,765 $ 158,745 $ 25,020
Accounts receivable 71,724 71,724
Accrued interest receivable 841 361 480
Prepaid expenses 1,200 1,200
Amount to be provided by future revenue 160,500 160,500
Fixed assets, at cost or appraised values,
less accumulated depreciation 1�191;272 1,191,272
Total assets $1,609,302 $1,423�302 186 000
��LL�;�IES, RESERVES AND SURPLUS
Liabilities
Accaunts payable
Other City funds $ 4,352 $ 4,352
Other 16,531 16,531
Deposits payable 131,019 131,019
Bonded indebtedness - Future maturities
Bonds (Page 91) 140,000 $140,000
Intexest 46,000 46,000
Reserve for reti�°ement of revenue bonds 116,575 116,575
Investment in fixed assets 1,074,697 1,074,697
Curren� su�°plus 80,128 80,128
Total liabilities, reserves
and surplus 1 609 302 $1,423,302 $186,000
•
68
CITY OF FRIDLEY, MINNESOTA
SEWER AND WATER UTILITIES OPERATING FUND
BALANCE SHEET - DECEMBER 31, 1964
(with prior year amounts restated for comparison)
1964 1963
AS3ETS
CURRENT ASSETS
Cash $ 158,745 $ 93,849
Accounts receivable
Water Project No. 34 Special Assessment
Construction Fund 416
North Suburban Sa�nitary Sewer Di.strict 2,000
Customers 71,724 61,795
Accrued interesti receivable 361 759
Prepaid expenses 1,200 4
Total current assets $ 232,�030 $ 158�823
FIXED ASSETS, at cost (See note below)
Land and land improvement $ 83,133 $ 6Z,929
Buildings and structures 411,988 209,100
Meters 142,323 130,414
Machinery and equipment 595,821 168,254
Work in progress 62,799 714,193
Office equipment S,222 4,821
Total cost $1,301,286 $1,289,70?
Less accumulated depreciation _ 11Q�14 _ 66:850
Net fixed assets ,�1,191,272 $1,222,857
TOTAL ASSETS $1,423,302 $I,381,A6$0
Note - 1he City follows the practice of not including as parC of fixed assets in
this fund the cost of the distri,bution system, which is paid f�or by assess-
ment against benefited prap�rty or defgxred tax levies, and which is included
in General Fixed Assets. Although the Utility 4perating Fund has transferred
monies to the special assessment debt service funds to pay principal and in-
terest on some bond issues, Che fund does not have an obligation to do so.
lherefore, the City considers sucYt transfers as direcit charges against current
surplus and not against income. In accordance with the �bove practices, 1963
amounts have been restated in this report for compar�bility with the 1964
staCement. These changes consisted of removing $494,485 represenCing the
portion of the cost of the distri.bution sysCem and relafied depreciation of
$2,786 from fixed assets and depreciation expense along with a reduction of
$38,796 fro� 3.nterest expense which represented a portion of the firansfer to
the special assessment debt service funds.
69
1964 1963
LIABILITIES, CONTRIBUTION AND RETAINEA EARNINGS
CURRENT LIABILITIES
Accounfis payable
Other City funds - Public Fmployees'
Retirement Association Fund $ 4,352 $ b,445
Other 16,531 1,156
Total current liabilities $ : 20,883 $ 7,601
OTHER LIABILITY - Customers deposits � 131,019 � 120,085
RESERVE FOR RETIREMENT 4F REVENUE BONDS $ 116,575 $ 121,949
CONTRIBUTION AND INVESTMENT TN FIXED ASSETS
City' s contribution in sid of construction $ 954,084 $ 913,745
Investment in fixed asaets Z24,613 187.163
Total contribution and investment
in fixed assets $1,074,697 $1�100,908
RETAINED EARNINGS AND CURRENT SURPLUS
Retained earnings $ 321,316 $ 340,249
Deduct: Reserve for retirement of revenue bonda ( 116,575) ( 121,949)
Investmeat in fixed asseta ( 124,613) ( 1$7,163)
Current surplus $ 80,128 $ 31,137
TOTAL I:IABILITIES, CONTRIBUTION AND
RETAINED EARNiNGS 1 423L302 1 381 680
7I
� CITY OF FRIDLEY. MINNESOTA
SEWER AND WATER UTILITIES OPERATING FUNA
ANALYSIS �F CHANGES IN SURPLUS
YEAR ENDED DECEMBER 31, 1964
Cuzrent surplus
Balance January 1, 1964 $ 31,137
Additions
Net income from aperations $ 73,255
Depreciation charged to investment in fixed assets 44,002
Loss on disgosal of fixed asset, transferxed to
investment in �ixed assets 389
Total additions $ 117.646
Balance and additions $ 148,783
Deductions
Aquisition of fixed assets from current year's revenue
recorded in investment in fixed assets $ 13,016
Transfer to sewer and water uti],ities debt service funds,
ut3,Iities share �f improvement c�sts 5,374
1Yansfer to special assessment debt service funds 50,265
Tota1 deductions $ 68,655
Balance December 31, 1964 $ gp,�,28
City contribution and investment in fixed assets
Balance Januaxy 1, 196�+ �1,100,908
Additimns
Acquisition c�f fixed assets froui current year's revenue $ 1.3,016
Utili.ties equity invesCed i.n existing fixed assets by
transfer to sewer and water utilities debt service £unds 5,374
Total additions S 18,390
Balance and additians $1,119,298
Aeductions
Depreciation of fixed asse�s charged to operations $ 44,002
Book value of fix�d assets removed 599
T�tal deducttion� $ 44,601
Balance December 31, 1964 $1,074 697
72
CITY OF FRIDLEY, MINNESOTA
SEWER AND WATER UTILITIES OPERATING FLTND
STATEMENT OF II3COME
YEAR ENDED. DECEMBER 31, 1964
(with prior year amounts restated for comparison)
1964
Combined Water Sewer
Operating revenue
Water sales and sewer rents $354,355 $243,223 $111,132
Less discounts " 6 570) 3 285) 3 285)
$347,785 $239,938 $107,847
Permits 9,770 3,270 b,500
Sales of materials and miscellaneous
services 3,�321 3,225 96
Total operating revenue 360 876 246 433 114 443
Operating expenses
Source of supply $ 93,067 $ 35,573 $ 57,494
Power and pumping 27,715 17,484 10,231
Puxification 13,382 13,382
Transmission and distr3bution 80,987 41,501 39,486
(�ustiomer accounting and collecting 17,801 12,549 5,252
Administrative and general 9,255 5,193 4,062
Depreciatfon 44,002 41,980 2,022
Total operating expenses 2$b 209 167 662 118 547
Operating income $ 74,667 78 771 4 104)
Other income and (expenses)
Interest income $ 4,$77
Interest expense ( 5,900)
Niiscellaneous 389)
Net income $ 73 255
See note on b�lance sheet.
73
1963
Combitted Water Sewer
$297,140 $196,519 $100,621
b 085) 3 0�+3) 3 042)
$291,OS5 $193,476 $ 47,579
11,320 3,820 � 7,500
_ 3,893 3,736 1S7
306 268 201 Q32 105 23b
$ 75,847 $ 12,336 $ b3,511
35,994 10,325 25,069
3,922 3,422
84,812 4.4,07$ 40,7�4
9,916 6,274 3,642
11,200 5,668 5,532
22,193 17,766 4,427
243 284 100 369 142 R15
$ 6299$4 100 663 $ 37 679)
$ 3,715
( 6958I)
334
60 512
74
CITY OF FRIDLEY� MINNESOTA
SEWER AND WATER UTILITIES OPERATING FUND
STATEMENT OF OPERATING EXPENSES
YEAR ENDED DECEMBER 31, 1964
(with prior year amounts restated for comparison)
1964
Comb�ned Water Sewer
Source of supply
Water purchased $32,634 $32,b34
Sewer rental 57,107 $57,107
Maintenance and repair 3,180 2,813 367
Other 146 126 20
Total source of supply 93 067 35 573 57 494
Power and pumping
Operation and maintenance $10,160 $ 1,591 $ 8,569
Eguipment rental 1,777 1,777
Electr3.city 13,162 11,500 1,662
Fuel - heating Slb 516
Pump repairs 1,937 1,937
Other 163 163
Total power and pumping 27 715 17 484 10 231
Purification
Operation and maintenance $ 916 $ 916
I,�bor 6,873 6,873
Supplies 1,949 1,949
Building repairs and maintenance 527 527
Electricity 260 260
Fuel - heating 1,633 1,633
Telephone 289 289
Insurance 859 $59
Otlaer ?6 76
Total purification 13 382 13 382 '
75
1963
Combined Water Sewer
$12,165 $12,165
63,Sl l $b3,511
171 17I
7 5 8�+7 12 336 63 511
$23,549 $ 356 $23,193
11,445 9,569 1,876
226 226
17�a 174
35 394 10 325 25 069
$ 36S $ 365
1,918 1,91$
423 423
124 124
573 57�
154 154
291 291
74 74
3 922 3 922
76
CITY OF FRIDLEY, MINNESOTA
SEWER AND WATER UTILITIES OPERA.TING FUND
STATEMENT OF OPERATING EXPENSES (CONTINUED)
YEAR ENDED DECEMBER 31, 1964
(with prior year amounts restated for comparison)
19b4
Combined Water Sewer
Transmission and distribution
Labor $49,055 $22,3�5 $26,680
4peration and maintenance of equipment 3,800 1,324 2,476
Consulting fees 2,308 2,308
Supplies 4,142 3,490 652
Repair and mainCenance of services 7,911 2,052 5,859
Repair and maintenance of mains and
lift station 9,690 9,690
Meter repairs 1,468 1,468
Sma11 tools 556 314 242
Insurance 1,762 753 1,009
Other 295 35 260
Special project
Total transmission and distribuCion 80 987 1 501 39 486
Customer accounting and collecting
Labor $10,438 $ 6,981 $ 3,457
Office supplies and postage 5,362 4,086 1,276
Maintenance of equipment 28S 144 141
Teleptxone 244 122 122
Bank service charges 420 210 210
Consulting fees 1,035 989 46
Otlaer 17 17
Total customer accounting and collecting 17 801 12 549 5 252
Administ�°ative and gener�l
Labar � $ 2,269 $ 1,182 $ 1,0$7
Consulting fess and audit 1,702 1,058 6�+4
General office expenses 429 330 99
Hospit�lization insurance contributions 503 251 252
Public F�nployees' Retirement Association
contribution 4,352 2,372 1,9$0
Total administrative and general 9 255 5 193 4 062
Depreciation 44 256 42 234 2 022
Total operating expenses 286 463 167 916 $118,547
��
1963
Combined 4�.ter Sewer
$60,254 $31,447 $28,807
49199 1,733 2,466
2s528 1,632 896
69 825 5,018 1,807
1,118 1,118
892 892
439 91 348
3,75$ 1,819 1,939
1,271 328 91+3
3,528 3,528
84 $12 e'+ 078 0 �34
$ 7,913 $ 5,150 $ 2,763
1n22A 719 501
213 109 109
240 115 125
�60 '�30 130
65 51 14
9 9�.6� 6 2��o- � 6�2
$ 380�2 $ 1yS15 $ 1,527.
1a6.�3 6�5 4$$
�+7� 361 113 -
�50 225 225
5,581 2s902 2n679
11 200 5 668 5 S32
22 193 1� 766 4 �a27
24�3 2�� 100 369 142 915
78
CITY OF FRIDLEY, MINNESOTA
SEWER AND WATER UTILITIES DEBT SERVICE FUNDS
BALANCE SHEETS - DECEMBER 31, 1964
Principal
Combined and interest Reserve
ASSETS
Cash $ 25,020 $ 8,862 $16,158
Accrued interest receivable 480 480
Amount to be provided for debt
retirement fram futuxe revenuea 160,500 160,500
Total assets 186 000 1G9 362 16 638
LIABILTTIES
Liabilities - Bonded indebtedness
(future maturities)
Bonds {Page 91) $],l+0,000 $140,000
Interest 46,000 29,362 16 638
Total liabilities 186 000 169 362 16 63$
STATEMFNTS OF CASH RECEIPTS AND DISBURSF,MENTS
YEAR ENDED AECEM$ER 31, 1964
Cash balance January 1, 1964 25 193 9 035 ` 16 158
Receipts - T`ransfer from Sewer and
Wa.ter Utilities Operating Fund 11 27S 11 275
Total beginning cash and receipts 36 468 20 310 16 158
Disbursements
Bond principal $ 5,000 $ 5,000
Bond interest 6,425 6,�+25
Fiscal agent service charges 23 23
Total d�sbursements 11 448 11 448
Cash balance December 31, 1964 $ 25,020 8 862 16 1S8
79
CITY OF FRIDLEY, MINNESOTA
SEWER AND WATER UTILITIES DEBT SERVICE FUNDS
DEBT SERVICE REQUIREMENTS
DECEMBER 31, 1964
Bond
Year principal Interest Total
1965 $ 5,000 $ 6,225 $ 11,225
1966 10,000 6,025 16,025
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
1976 159000 675 15,675
140 000 4$ 6,000 186 000
81
CITY OF FRIDLEY, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS
DECEMBER 31, 1964
GENERAL FIXED ASSETS
Land $ 365,508
Buildings and structures 214,695
Improvements other than buildings 10,062,845
FLirniture, fixtures and office equipment 57,473
Machinery and equipment 208,429
Construction work in progress _ 634,094
Total general fixed assets $11,543,�044
INVESTMENT IN GENERAL FIXED ASSETS
From general obligation bonds $ 381,786
From current revenues 533,854
From assessments against benefited property 10,494,365
From State aid 74,240
From Municipal Liquor 4perating Fund 38,570
From Sewer and Water Utilities Operating Fund 686
From contributions 19,543
ToCal investment in general fixed assets $119543,044
General fixed assets were priced at cos� except that fixed assets for which cost
information was not available were priced at appraised values.
�2
CITY OF FRIDLEY, MINNESOTA
SUMMARY STATEMENT OF TREASURER CASH RECEIPTS AND DISBURSEMENTS
ALL FUNDS
Y,EAR ENDED DECEM$EP. 31, 1964
Receipts
Cash - .
balance Investment
January 1, Maturities Interfund
1964 (cost Z transfers Other Total
Fund
General Fund $ 108,014 $ 70,000 $ 856,304 $ 926,304
Municipal State Aid F'und 51,111 142,058 142,058
Bond funds 23,280 45,000 45,000
Special Improvements Revolving
Fund 8,536 81,561 58,769 140,330
Special assessment funds
Construction 131,863 $ 16,000 161,928 786,821 964,749
Debt service 1,661,934 247,000 442,532 1,163,316 1,852,848
General debt service funds 3,903 32,598 32,598
Trust and agency funds ( 2,506) 16,444 37,280 53,724
Municipal liquor �unds
Operating 94,863 972,092 972,092
Debt service 37,065 21,220 1,040 22,264
5ecaer and water utilities funds
Opera�ting 93,849 421,121 421,121
Debt service 25,193 �„ 11,275 11,275
Total $2,237,105 $263,000 804 960 $4,516,399 $5,584,359
83
Disbursements
Cash
balance
Inveatment Interfund December 31,
�urchases traasfers Other Total 1964
$ 936,784 $ 936,784 $ 97,534
$ 77,827 126,375 204,202 ( 11,033)
63,802 63,802 4,478
91,369 24,595 115,964 32,902
155,375 755,221 910,596 186,016
$788,000 303,258 1,389,621 2,480,879 1,033,903
19,813 19,813 16,6$8
43,862 43,862 7,356
101,218 849,496 950,714 116,241
23,083 23,083 36,242
75,913 280,312 356,225 158,745
11,448 11�,448 259020
1$8 000 $04 960 �4,524,412 $6,117,372 $1,704,092 �
�4
CITY OF FRIDLEY, MINNESOTA
STATEMENT OF CASH
DECEMBER 31, 1964
Treasurer cash
Cash in banks
Checking accounts
Camden Northwestern SCate Bank,
Minneapolis, Minnesota $ 78,883
Fidelity Bank and ZYust Company,
Minneapolis, Minnesota (64,19b)
Fridley State Bank, Fridley, MinnesoCa 24,580
Total checking accounts $ 39,267
Certificates of deposit
Camden Northwestern State Bank,
Minneapolis, Minnesota $906,000
Fidelity Bank and Trust Company
Minn�apolis, Mi.nnesota 350,000
Fridley State Bank, Fridley, Minnesota 395,000
Total certificates of deposit 1,651,000
Total cash in banks $1,690,267
Petty cash and change funds
Clerk's office $ 125
Municipal Court 25
Public Utilities Operating Fund 75
Municipal Liquor Operating �nd 13,600
Total petty cash and change funds 13,$25
Total treasurer cash $1,704,092
Cash with fiscal agents
Aanerican Na.tional Bank, St. Paul, Minnesota $300,350
Ennpire Trust Campany, New York, New York 54,328
Fidelity Bank and �Yust Company, Minneapolis,
Minnesota 44,663
First National Bank, St. Paul, Minnesota 144,114
Northwestern National Bank,
Minneapolis, Minnesota 10,296_
Total cash with fiscal agents $ 553 751
,
85
CITY OF FRIDLEY, MINNESQTA
STATEMENT OF UNITED STATES GOVERNMENT SECURITIES
PLAGED IN ESCROW BX DEPOSITORX BANKS FOR
THE SAFEGUARDING OF CITY FUNDS
DECEMBER 31, 1964
Face
amount of
Depository bank Escrow bank securities
Camden Northwestern State Ba.nk, Northwestern National Bank, $1,200,000
Minneapalis, Minnesota Minneapolis, Minnesota
Fidelity Ba.nk and Trust Company, Federal Reserve Ba.nk, $ 631,000
Minneapolis, Minnesota Mi.nneapolis, Minnesota
Fridley State Bank, Northwestern National Bank, $ 500,000
Fridley, Minnesota Minneapolis, Minnesota
Additional coverage of $10,000 is provided at each depository bank by the Federal
Deposit Insurance Corporation.
Note - Minnesota statutes require a depository to pledge sufficient collateral to
cover funds on deposit. The amount pledged by the Fridley State Ba.nk was $218,071
short of requirement at December 31, 1964.
86
CITY OF FRIDLEY, MINNESOTA
INVESTMENT IN CITY OF FRIDLEY TEMPORA.RY BONDS-
DECEMBER 31, 1964
Interest Maturity �
rate date Amount
O�med b� Re�ular Special Assessment
Debt Service Fund
Issued by
Sanitary Sewer, Storm Sewer and
Water Project No. 58 5.00% 12/1/64 $ 40,000
Sewer and Water Project No. 55 5.00 10/1/64 70,000
Sewer and Water Project No. 59 5.00 1/1/65 15,000 �
Sewer and Water Pro�ect No. 61 4.50 3/1/66 41,040
Sewer and Water Project No. 63 5.00 10/15/65 25,000
Sewer and Water Pro�ect No. 65 5.00 11/1/65 9,000
Sewer and Water Project No. 66 4.50 7/1/66 12,000
Sewer and Water Project No. 67 4.50 10/1/66 195,000
Sewer and Water Project No, 69 4.50 10/1/66 80,000
Storm Sewer Pro,ject No. 5 4.50 7/1/66 185,000
Storm Sewer Project No. 53 5.00 1/15/65 45,000
Storm Sewer Pro�ect No. 64 5.00 11/1/65 $,000
Storm Sewer Pro,ject No. 71 4.50 12/30/66 50,000
1963 Street Improvement Project 5.00 10/15/65 52,000
1964 Street Improvement Project 4.50 8/1/66 65,000
City Hall Bonds Debt Service Fund 4.50 12/1/66 45,000
Total investment in City of
Fridley Temporary Bonds 937 000
87
CITY OF FRIDLEY, MINNESOTA
BONDS PAYABLE - ALL FUNDS
DECEMBER 31, 1964
D�te Maturity Inte�-est Principal
of issue date rai:e amount
S1�ecial Assessmen.t Debt Service Funds
Regular
Sewer Improvement Bonds maturing
$4,000 per year S/1/54 5/1/65-73 2,00% $ 36,000
May 1, 1974 5/1/54 5/1/74 3.00 2,000
Wa.ter and Sewer Improvement
Bonds of 1954 maturing
$15,000 per year 8/1/54 8/1/65-70 3.`i0 90,000
$15,000 per year 8/1/54 8/1/65-70 4.00 90,000
$20,000 per year 8/1/54 8/1/71-71+ 3.`i0 80,000
$20,000 per year 8/1/54 $/1/71-74 4.00 80,000
Storm Sewer Improvement Bonds
maturing November 1, 1965 11/1/54 11/1/65 3.:i0 22,000
Water and Sewer Improvement
Bonds maturing
$15,000 p�r year 11/1/54 11/1/65-67 3.:i0 45,000
$15,000 per year 11/1/54 11/1/68-70 4.()0 45,000
$20,000 per year 11/1/54 11/1/71-74 4.00 SQ,000
Water and Sewer �mprovement
Bonds maturing
$15,000 per year 5/1/55 2/1/65-71 3.Ei0 105,000
$15,000 per year 5/1/55 8/1/65-71 3.Ei0 105,000
$20,000 per year 511/55 2/1/?2-75 3.Ei0 80,000
$20,000 per year S/1J55 2/1/72-75 3.Ei0 80,000
General Obligation Improvement
Bonds maturing
February 1, 1965 10/1/55 2/1/65 3.Ei0 10,000
August 1, 1965 10/1/55 8/1/65 3.Ei0 10,000
$15,000 per year 10/1/55 2/1/66-72 3.Ei0 105,000
$15,000 per year 10/1/55 8/1/66-72 3.Ei0 105,000
$20,000 per year 10/1/SS 2/1/73-75 3.fi0 60,000
$20,000 per year 10/1/55 8/1/73-75 3.fi0 60,000
Improvement Bonds maCuring
August 1, 1965 8/1/56 8/1/6S 4.:>0 30,000
$35,000 per year $/1/56 8/1/66-70 4.`i0 175,000
$30,000 per year 8/1/56 8/1/71-74 4.i'S 120,000
August 1, 1975 $/1/56 8/1/75 4.i'S 50,000
August 1, 1976 $/1/S6 8/1/76 4.i'S 55,000
Total Regular Special Assessment Debt Service �nd $1,720,000
88
CITY OF FRIDLEY, MINNESUTA
BONDS PAYABLE - ALL FUNDS (CONTINUED)
DECIIKBER 31, 1964
Uate Maturity Interest Principal
of issue date rate amount
Special Assessment Debt Service �nds
�continued)
Improvement Bonds of 1960
maturing
January 1, 1965 10/1/60 1/1/65 4.50% $ 80,000
$80,000 per year 10/1/60 1/1/66-68 4.00 240,000
January 1, 1969 10/1/60 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, 197k 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
January 1, 1981 10/1/60 1/1/81 4.10 70,000
January 1, 1983 10/1/60 1/1/82 4.10 75,000
Total Improvement Bonds of 1960 Special Assessment
Debt Service Fund $1,410 000
Improvement Bonds of 1962
lst series maturing
$40,000 per year 5/1/62 2/1/65-67 3.10 $ 120,000
February l, 1968 5/1/62 2/1/68 3.10 35,000
February 1, 1969 5/1/62 2/1/69 3.10 10,000
February 1, 1970 S/1/62 2/1/70 3.50 5,000
February 1, 1971 5/1/62 2/1/71 3.50 10,000
February l, 1972 5/1/62 2/1/72 3.50 5,000
February 1, 1973 5/1/62 2/1/73 3.50 10,000
February l, 1974 5/1/62 2/1/74 3.80 5,000
February 1, 1975 5/1/62 2/1/75 3.80 10,000
February la 1976 5/1/62 2/1/76 3.80 5,000
February 1, 1977 5/1/62 2/1/77 3.80 10,000
February 1, 1978 5/1/62 2/1/78 3.80 5,000
February 18 1979 5/1/62 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 $ 255,000
Improveanent Bonds of 1963 maturing
January 1, 1965 1/1/63 1/1/65 3.20 $ 30,000
$80,000 per year 1/1/63 11/1/66-68 3.20 240,000
$$5,000 per year 1/1/63 11/1/69-70 3.20 170,000
$60,000 per year 1/1/63 11/1/71-73 3.50 180,000
January l, 1974 1/1/63 1/1/74 3.50 50,000
January 1, 1975 1/1/63 11/1/75 3.70 45,000
$30,000 per yea� 1/1/63 1/1/76-77 3.70 60,000
$30a000 per year 1/1/63 1/1/78-79 3.80 60,000
$359000 per year 1/1/63 1/1/80-83 3.80 140,000
Total Improvement Bonds of 1963 Special Ass�ssment
Debt Service �nd �S 975,000
89
CITY OF .FRIDLEY. MINNESOTA
BONDS PAXABLE - ALL FUNDS (CONTINUED)_
- DECEMBER 31, 1964
Date Maturity Interest Principal
of issue date rate amount
�ecial Assessment Debt Service Funds
(continued)
Sewer and Water Project No. 48
Improvement Bonds maturing
$120,000 per year 10/1/61 1/1/65-68 4.00°!0 $ 480,000
$120,000 per year 10/1/61 1/1/69-72 4.10 480,000
January 1, 1973 10/1/61 1/1/73 4.10 110,000
Total Sewer and Water Project No, 48 $1,070,000
Refunding Bonds maturing
February 1, 1965 2/1/64 2/1/65 *3.10';. $ 145,Q00
$165,000 per year 2/1/64 2/1/66-67 *3.10 330,000
$155,000 per year 2/1/65 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 �/1/64 2/1/73-75 *3.30 315,000
$105,000 per year 2/1/64 2/1/76-79 *3,40 420,000
Febr,uary 1, 1980 2/1/64 2/1/80 *3.40 40,000
Total Refunding Bonds Specfal Assessment
Debt Service F�nd � $2,D2S,000
* Additional interest at the annual rate of 1.20% from April 1,
1964 to February 1, 1965.
Sanitary Sewer, Storm Sewer and
Water Project l�o. 58
Temporary Bonds 12/1/62 12/1/64 S.C►0 . � 40,000
3ewer and Water Project No. 55
Tewparary Bonds 10/1/62 10/1/64 5.(►0 $ 70,000
Sewer and Water Project No. 59
Temporary Bonds 1/2/63 1/1/65 S.(10 �, 15,000
Sewer and Water Project No. 61
Temporary Bonds 3/1/64 3/1/66 4.;'>0 $ 41,000
Sewer and Water Project No. 63
Temporary Bonds 10/15/63 1OJ15/b5 5.O0 $ 25,000
Sewer and Water Project No. 6S
Temporary Bonds . 11/1/63 11/1/65 5.t)0 $ 9,000
Sewer and Wa.ter ProjecC No. 66
Temporary Bonds 7/1/64 7/1/66 5.�)0 $ 12,D00
Sewer and Water Project No. 67
Temporary Bonds 10/1/64 lOjl/66 4.;i0 $ 195,000
90
CITY OF FRIDLEY� MINNESOTA
BONDS PAYABLE - ALL FUNDS (CONTINUEDZ
DECEMBER 31, 1964
Lhte Maturity Intexest Principal
of issue date rate amount
Special Assessment Debt Service �nds
(continued) -
Sewer and Water Project No. 69
Temporary Bonds 10/1/64 10/1/66 4.50% $ 80,000
Storm Sewer Pro j ec t No. 5
Temporary Bonds 7/1/64 7/1/66 4.50> � 185,000
Sborm Sewer Pro�ect No. 53
Temporary Bonds 1/15/63 1/15/65 5.00 $ 45,000
Storm Sewer Project No. 64
Temporary Bonds 11/1/63 11/1/65 5.00 $ 8,000
Storm Sewer Project No. 71
Temporary Bonds: 12/30/64 12/30/66 4.50 $ 50,000
1963 Street Improvement Project
Temporary Bonds 10/15/63 10/15/65 5.00 $ 52,�000
1964 Street Improvement Project
Temporary Bonds 8/1/64 8/L/66 4.50 $ 65,000
Total Special Assessment Debt Service Funds $8,347,000
91
CITY OF FRIALEYA MINNESOTA
BONDS PAYABLE - ALL FUNDS (CONTINUED)_
DECEMBER 31, 1964
D�te Nhturity Intez�est Princ3pal
of issue date rat:e amount
General Debt Service �nds
Park Bonds of 1962 and 1963
maturing
February 1, 1965 5I1/62 2/1/65 3.00% $ 10,000
$15,000 per year S/1/62 2/1/66-69 3.b0 60,000
February 1, 1970 5/1/62 2/1/70 3.EF0 15,000
$20,000 per year 5/1/62 201/71-73 3.�►0 60,000
January 1, 1965 1/1/63 1/1/65 3.20 5,000
$10,000 per year 1/1/63 1/1/66-67 3,��0 20,000
$15,000 per year 1/1/63 1/1/68-70 3.;?0 45,000
January l, 1971 1/1/b3 1/1/71 3.'i0 15,000
$20,000 per year 1/1/63 1/1/72-73 3.:i0 40,000
January 1, 1974 1/1/63 1/1/74 3.:i0 25,000
Total Park Bonds of 1962 and 1963 $ 295,000
City Hall Bonds
Tempora�ry Bonds 12/1/6� 12/1/66 4.'i0 $ 45,000
Total General Debt Service kl�nds $ 340,000
Municipal Liquor Debt Service Fund
(Principal and �nter�st)
Municipal Bui.lding Revenue Bonds
maturing
$15n000 per year 9/1/56 9/1/65-66 �.��0 $ 30,000
$15,000 per year 9/1/56 9/1/67-71 4�.:Z5 75,000
September l.9 1965 12/1J57 9/1/65 4.�30 2,000
$3,000 per year 12/1/57 9J1/66�71 4.�30 18g000
7C���1. Municipal L,iquor Deb� Service �nd $ 125s 000
Public Utilities T1ebt Service Fund
(Princip�l and Ixzterest)
Wat�r and Sew�r Revenue Bcands
maturing
September 19 1965 9/1/56 9/1/65 4.00 $ 5,000
September ls 1966 9/1/56 9/1/66 4.00 10,000
$109404 per year 9/1/56 9/1/67-71 4.50 509000
$158000 per year 9/1/56 9/1/72P76 4.50 75,000
To��l Public Utilities Debt Serv�.�e Fund $ 140,000
Total Bo�ds Payable - all funds $8,9529000
92
CITY OF FRIDLEX, MINNESOTA
DEBT SERVICE REQUIREMENTS - ALL FUNDS
DECEMBER 31, 1964
Bond
Year principal Interest Total
1965 . $ 867,000 $ 337,794 $ 1,204,794
1966 1,355,000 296,983 1,651;983
1967 682,000 241,338 923,338
1968 672,000 217,069 889,069
1969 647,000 193,149 840,149
1970 647,000 169,515 816,515
1971 642,000 145,693 787,693
1972 639,000 121,�+52 760,452
1973 594,000 9$,195 692,195
1974 447,000 78,506 525,506
1975 385,000 62,783 447,783
1976 29Q,000 :49,022 339,022
1977 225,000 37,410 262,410
1978 220,000 29,070 249,070
1979 220,000 20,820 240,820
1980 160,000 13,5$0 173,580
1981 110,000 8,230 118,230
1982 115,000 3,665 118,665
1983 35z000 665 35,665
$8,952,000 $2,124,939 $11 076,939
93
CITY OF FRIDLEY, MINNESOTA
ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES
(shown by year of tax collectibility)_
1962 1963 1964 1965
Assessed valuatians
Rea1 estate $6,743,312 $ 8,879,133 $ 9,795,002 $11,656,588
Persanal property 2,150,430 2,292,$27 2,391,G14 2,488,612
Total $89893,742 $11,171,960 12 186 �i16 �514,145,200
Tax levies
General �nd $ 334,$1$ $ 365,589 $ 379,�7b8 $ 444,159
Public Hnployees' Retire-
ment Assaciation �nd 12,282 14,050 19,:147 17,682
Firemenos Relief Associa-
tion Fund 89 894 11,172 7.2,:196 14,145
Gener�l debt servi�e funds 16,532 33,�+16 36,919
Improvement bonds 26,.568 52,762
T�tal $ 355,99�+ $ 407�3�3 . G�71 ��95 $ 565,667
Mill �ates
General Fund 37.64 32t72 31.16 31.40
Public Employeese Retire-
ment As�o�iation Fund 1.3� 1.26 1.57 1.25
Fireamen's Relief As�o�ia-
��.Otl T'11T1C1 1 e Q� 1..�0 1.'�Q 1•0�
General d�b� service funds 1.48 2.74 2.61
Improvemen� bonds 2.18 3.73
Tc�t�l �+0.02 36��6 38.�65 39,99
94
CITY OF FRTDLEY� MINNESOTA
TAX LEVIES AND TAX COLLECTIONS
YEARS 19$0 THROUGH 1964
Collections Percentage Collection
of current of levy of prior Ratio
years' taxes collected years' taxes of total
Year Total during fiscal during fiscal during fiscal ToCal collections
collected tax levy period �,�riod period collections to tax levy
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 .9$71 :1
1.962 355,994 351,707 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
95
CITY OF FRIDLEY, MINNESOTA
INSURANCE COVERAGE
DECEMBER 31, 1964
Majar insurance coverage at December 31, 1964 is su�rnmarized below.
Fire and ezctended coverage
City Hall
Building $136,000
Contents 35,OOp
Bennett Building
Buildi.ng 12,000
Contents 2,000
Madsen Building - Contents Sa000
Anan Building - Building 15,000
Pump H�uses
Building 30,000
Contents 29,500
Equipment building and contents 24,000
Wa,ter tanks 187,500
Municipal Liquor Store No. 2
Building 60,000
Cc�ntent� 20,000
Stock 7 5,000
l�nieipal Liquor Store No. 3
Building 1579000
��t���� 30,000
Stock 1008000
Municip�l Liquc�r Store No. �+
Content� 16,000
Stock 60,000
Iron remov�l pZ�nt �nd pump Iaouse
Bqailding 180a 000
����n�� 1�5s000
Comprelaensive liabili�y
Bc�dily injury
Autoano�iles 100/300,000
�ce�pt sutomcsbiles 100/3Q0,000
T�.quor li�.bili�y 100/300s 000
Prc�perty damage
Autaau�biles 50,000
�cegt autoa�eobiles 50/100a000
Money �md se�uri�iesa inside/outside pse�ises - all locati�ns 15/ 12,000
Burgla�y
l�nicipal Liquor Store No. 2 10,000
Municipal Liquor Stare No. 3 108000
Municipal Liquor Store No. 4 10a000
96
CITY OF FAIDLEY, MINNESOTA
INSU_RANCE COVERAGE (CONTINUED)
DECEMBER 31, 1.964
Business interruption
Municipal Liquor Store No. 2 $ 57,000
l�nicipal Liquor Store No. 3 62,000
Municipal Liquor Stoxe No. 4 50,000
Depositors forgery bond - all locations 10,000
P1ate glass breakage repl�cement
Workmen's compensation . statutory
Equipment floater 60,719
Neon sign 2,000
Motor truck cargo 500
1Yaffic signals ($50.00 deductible) 12,000
90% Co-insurance is applicable to all buildings and
40% Co-insurance is applicable to all lfquor store stock.
EMPLOYEES SURETY BONDS
DECEMBER 31, 1964
Surety
Name Pos i t ion bond
Marvin C. Brunsell Clerk $ 1,000
Marvin C. Brunsell Treasurer 25,0�0
Mervin Herrmann Assessor 1,000
Virgil V. Wills Clerk of Municipal CourC 1,000
All employees of the City are covered by a blanket
faithful performance bond of 15,000
97
CITY OF FRIDLEY, MINNESOTA
ESCROW AGENT ACCOUNT
During 1964 refunding bonds in the amount of $2,025,000 were sold by the City for
the advance payment of the remaining bonds outstanding of three Ci1:y bond issues.
Z�ie proceeds from the refunding bonds were paid directly to the esc,row agent,
FirsC National Bank of Minneapolis, along with $50,903 from the Ci1.y.
Zhe escrow agent is to use the bond proceeds, interest earned on fizvestments and
other receipts for the payment of bond principal and interest, and for the payment
of the ca11 costs when the callable bonds are redeemed.
Bond issues refunded by the CiCy are,
Sewer and Water Pro�ect No. 13
Intprovement Bonds issued 1/1/59 $ 270,Q00
Sewer and Water Project Nos. 21 and 22
Improvement Bonds issued 12/1S/59 505,000
Improvement Bonds of 1961 issued S/1/61 ,�1 250,000
�2,025,000
98
CITY OF FRIDLEY, MINNESOTA
ESCROW AGENT ACCOUNT
BALANCE SHEET
DECEMBER 15, 1964
ASSETS
Cash with escrow agent $ 25,582
Ca.sh with fiscal age�ts 41,310
Investments, at cost 2,034,454
Accrued interest receivable 10,521
Amount to be provided 356,256
Total assets $2,468,123
LIABILITIES AND RESERVES
Bonded indebtedness
Matured bonds and interest $ 41,310
�'uture maturities
Boads 2,000,000
Interest 402,843
Reserves for
Future call costs 20,375
Fiscal agents service charges 3,595
Total liabilities and reserves $2,46$,123
STATEMENT OF RECEIPTS AND DISBURSEMENTS
MARCH 25, 1964 to DECEMBER 15, 1964
Receipts
Proceeds fram sale of bonds $2,025g000
Aeccrued interest on bonds sold 9,76t�
7nvestmene maturities, at cost 217,814
Interest 48,062
Gity of Fridley 51 903
Total receipts $2,352,543
Disbursements
Investm�ent purchases $2,252,268
$OridS 25a��0
7nterest 49,538
Fiscal agents service charges 155
Total disbursements $2,�326,961
Cash balance December 15, 1964 $ 258582
99
CITY OF FRZDLEY, MINNESOTA
ESCRQW AGENT ACCOUNT
BQNDS PAYABLE
DECEMBER 31, 1964
Ihte 2�turity Tnte��est Principal
of issue date rat:e amount
S�ewer and t�ater Project No. 13
Improvement Bonds maturing
$15�000 per year 1/1/59 1/I/65-69 4..00°!� $ 75,000
January 19 1969 1/1/59 1/1/69 4.�?0 195,000
Sewer and Water Project Nos. 21
and 22 Tmprovement Bonds matu�ing
$30,000 per year 12/15/59 12/15/65-69 4.30 $ 150,000
December 15, 1969 12/15/59 12/15/69 4.:i0 330,000
Iinprovement Bonds of 1961
maturing
$110,000 per year 5/1/61 2/1/65-67 /.�)0 $ 330,�40
$ 95,OOQ per year S/1/61 2/1/68-71 k�.��0 380,000
Febru�,ry 18 1972 5/1/61 2/1/72 4.:L0 13�9 000
February 1, 197Z S/1/61 2,/1��2 �a..20 �a05,000
Tota1 bonds payable $2,000;,000
101
CYTY OF FRIDLEY, MINIVESOTA
ESCROW AGENT ACCOUNT
DEBT SERVICE REQUIR�MENTS
DECEMBER 15, 1964
Bond
Year Principal Int�rest Total
1965 $ 155,000 $ 80,935 $ 235,935
1966 155,000 74,6/5 2299645
1967 155,000 68,355 223,355
1968 140,000 62,365 202,365
1969 665a000 52,580 717,580
1970 95,000 28,245 123,245
1971 95,000 24,445 119,�t45
1972 540s 000 11,273 551,273
�2�0009 000 02 8�t3 �2,�02,8�3