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HomeMy WebLinkAbout1968 Financial StatementsCITY OF COLUMBIA HEIGHTS, MINNESOTA FINANCIAL STATEMENTS DECEMBER 31, 1968 CITY OF COLUMBIA HEIGHTS, MINNESOTA ELECTED AND APPOINTED OFFICIALS YEAR ENDED DECEMBER 31, 1968 E lec ted Mayor - Bruce Nawrocki Councilmen Robert G. King Dale Jeska William Land Walter S. Logacz Appointed City Manager - Malcolm 0. Watson Clerk- treasurer - Alvin P. Theis Attorney - Spencer Sokolowski Engineer - George F. Brown Term of office expires January 1970 1970 1970 1972 1972 t t CITY OF COLUMBIA HEIGHTS, MINNESOTA TABLE OF CONTENTS Page Independent certified public accountants' opinion 1 Comments 2 Balance sheets - All funds 8 General Fund Balance sheet 10 Statement of revenue - Actual compared with budget estimates 11 Statement of expenditures - Actual compared with budget estimates 12 Special revenue funds Balance sheets 18 Recreation Fund Statement of revenue, expenditures and fund balance 20 Civil Defense Fund Statement of revenue, expenditures and fund balance 21 State aid funds - Statements of cash receipts and disbursements 23 Storm Sewer Construction Fund Balance sheet 24 Statement of cash receipts and disbursements 25 Permanent Improvement Revolving Fund Balance sheet 26 Statement of cash receipts and disbursements 27 General Debt Service Fund Balance sheet 28 Statement of cash receipts and disbursements 30 Liquor Operating Fund Balance sheet 33 Statements of operating income 34 Analysis of changes in retained earnings 34 Statements of operating expenses 36 Public utility funds Balance sheets 38 Statement of income and fund balance Water Operating Fund 39 Sewer Operating Fund 40 Water System Improvement Fund - Statement of cash receipts and disbursements 41 Pension Fund - Statement of cash receipts and disbursements 41 CITY OF COLUMBIA HEIGHTS, MINNESOTA TABLE OF CONTENTS (CONTINUED) Miscellaneous information Statement of cash and security for deposits Summary statement of cash receipts and disbursements - All funds Bonds payable - All funds Debt service requirements - All funds Insurance coverage Employees' surety bonds Assessed valuations, tax levies and mill rates Page 42 42 43 45 46 46 47 May 15, 1969 To the City Council of 1 Columbia Heights, Minnesota ' We have examined the accompanying financial statements of the City of Columbia Heights, Minnesota for the year ended December 31, 1968. Except as indicated in the following paragraph, our examination was made in ac- cordance with generally accepted auditing standards, and accordingly ' included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. ' In our opinion, the accompanying statements, except for the utility funds which do not include fixed assets and related depreciation, present fairly the financial position of the respective funds of the City of Columbia Heights, Minnesota at December 31, 1968 and the results of their operations ' for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. G E O R G E M. H A N 5 E N COMPANY Certified Public Accountants 175 SOUTH PLAZA BUILDING WAYZATA BOULEVARD AT HIGHWAY 100 MINNEAPOLIS. MINNESOTA 55416 545 -5657 May 15, 1969 To the City Council of 1 Columbia Heights, Minnesota ' We have examined the accompanying financial statements of the City of Columbia Heights, Minnesota for the year ended December 31, 1968. Except as indicated in the following paragraph, our examination was made in ac- cordance with generally accepted auditing standards, and accordingly ' included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. ' In our opinion, the accompanying statements, except for the utility funds which do not include fixed assets and related depreciation, present fairly the financial position of the respective funds of the City of Columbia Heights, Minnesota at December 31, 1968 and the results of their operations ' for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. K CITY OF COLUMBIA HEIGHTS, MINNESOTA The City of Columbia Heights as amended. The form of gov "Council- Manager Plan." The chief administrative officer proper administration of all by popular vote and consists presiding officer. COMMENTS operates under a home rule charter adopted June 9, 1921 arnment established by this charter is known as the City Manager, who is appointed by the Council, is the of the City and is responsible to the Council for the affairs relating to the City. The Council is elected of five members including the Mayor, who is the The City statements, except for the operating funds, are presented under the modified cash basis whereby revenues are not considered as such until collected. Expenditures are recorded as soon as the liability is incurred. Accordingly, the receivables on the balance sheets, except interfund balances, are offset by a reserve identified as unrealized revenue. Statements for the operating funds are presented under the accrual basis of accounting. A statement of General Fixed Assets has not been included in this report since general fixed asset records are not maintained. GENERAL FUND The General Fund was established to account for the revenues and expenditures neces- sary to provide basic governmental services to the City such as general government, public safety and highways. In the following statements revenues are recorded by source, while expenditures are recorded by department. A plan of financial operation of the Fund is set forth in the annual budget adopted by Council. The General Fund statements are prepared to show the budget estimate, actual amount and balance. A condensed summary of revenue and expenditures for 1968 is shown below. REVENUE Amount Percent General property taxes Licenses and permits Fines and forfeitures From other agencies Charges for current services Refuse collections Refunds Other revenues Transfers from Liquor Operating Fund Total revenue $ 715,658 62.52 44,036 3,85 16,308 1.42 175,625 15.34 47,861 4.18 81,737 7.14 16,978 1.48 3,949 .35 42.534 3.72 $1,144.686 1 3 EXPENDITURES Cost per Amount capita General government $ 135,564 $ 5.45 Public safety 350,123 14.07 Highways 245,968 9.88 Sanitation and waste removal 64,127 2.58 Library 44,926 1.80 Park department 153,873 6.18 Other 242015 .96 Total expenditures $1.018.596 $40.92 The unrealized revenues shown on the balance sheet consist of taxes and other accounts receivable which will be recorded as revenue in the year collected. The General Fund deficit was reduced from $157,285 at December 31, 1967 to a deficit of $31,195 at December 31, 1968. ' SPECIAL REVENUE FUNDS Special revenue funds are established to account for taxes and other revenues (except special assessments) set aside for a particular purpose. Following is a brief description of each fund. ' Recreation Fund - This fund accounts for the City recreation program which is carried on in co- operation with Independent School District No. 13 under the direction of a five- member board. Civil Defense Fund - This fund was established to account for civil defense expend- itures. Portions of these expenditures are reimbursed by the Federal Government ' through the State Department of Civil Defense. A general property tax levy and transfer from the Liquor Operating Fund finance the City's share of these costs. ' State Aid Maintenance Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street maintenance are accounted for in this fund. A portion of each year's allotment is allocated to pay interest on State aid bonded indebtedness. An amount of $471 will be required from future revenue to cover expenses incurred to date. State Aid Construction Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street construction are accounted for in this fund. A portion of allotments is pledged to pay State aid bonds as they mature. During 1968, Apache Realty Fund made an interest free loan of $33,578 to the City in order to help finance the improvement of Stinson Boulevard. The City has pledged future construction allotments from the State of Minnesota for repayment of the loan. The loan is to be repaid in four equal annual installments beginning in 1972. State Aid Bonds of $100,000, authorized but not issued, were sold January 20, 1969. ' State Aid Debt Service Fund - This fund was established to account for debt service on $120,000 State aid bonds issued January 1, 1963. Allocations are made from gasoline tax, street construction and maintenance allotments to pay bonds and interest thereon, respectively. 4 STORM SEWER CONSTRUCTION FUND The proceeds from the sale of the $350,000 and $915,000 Storm Sewer Bonds of 1964 and 1965, respectively, are accumulated in this fund. The proceeds are to be used for construction of storm sewer drainage facilities. The accounting for the construction is being done in the Permanent Improvement Revolving Fund and transfers are made from the Storm Sewer Construction Fund as monies are needed. PERMANENT IMPROVEMENT REVOLVING FUND The Permanent Improvement Revolving Fund is used to account for special assessments and taxes levied to finance improvements or services deemed to benefit the proper- ties against which the assessments are levied. 'Primarily, transactions accounted for in this fund are: 1. Receipt of bond proceeds. 2. Disbursement of bond proceeds for construction work done. 3. Disbursement of storm sewer construction costs and the reimburse- ments for such costs from the Storm Sewer Construction Fund. 4. Collection of assessments against benefited property and collection of taxes for the City's share of improvements. 5. Disbursement of assessment and tax collections to the General Debt Service Fund for payment of bonds and interest. GENERAL DEBT SERVICE FUND General debt service funds are used to account for the accumulation of resources for payment of general obligation bonds or other indebtedness and interest thereon. The General Debt Service Fund of the City of Columbia Heights has been divided into seven accounts. Following is a brief description of each account. Permanent Improvement Revolving Fund Bonds Account - This account is used for the payment of bonds and interest of all Permanent Improvement Revolving Fund Bonds. Municipal Building Bonds of 1959 Account - This account was established to handle debt service for the Municipal Building Bonds issued June 1, 1959. Transfers from the Liquor Operating Fund are made to this account to provide the money required for payment of bonds and interest. Park Bonds of 1962 Account - Debt retirement (bonds and interest) of general ob- ligation bonds in the amount of $325,000 issued February 1, 1962 is being accounted for in this account. Transfers from the Liquor Operating Fund are made to this account to provide the money required for payment of bonds and interest. Storm Sewer Bonds of 1964 Account - This account was established during 1964 to handle the debt retirement of the $350,000 issue of Storm Sewer Bonds of 1964. General property taxes are being collected in the Storm Sewer Construction Fund to provide the money required. Storm Sewer Bonds of 1965 Account - This account was established during 1965 to handle the debt retirement of the $915,000 issue of Storm Sewer Bonds of 1965. General property taxes, along with payments pledged by the Water Operating Fund, are being collected in the Storm Sewer Construction Fund to provide the money required. 5 ' Water System Bonds Account - Debt retirement of water revenue bonds is to be made from monies transferred from the Water Utility Operating Fund. Net revenues of the Water Operating Fund are pledged for the payment of interest and bond redemption. ' In the event these revenues are insufficient to pay bonds and interest, general taxes or transfers from other funds would be needed to produce the additional money required. Library Bonds of 1966 Account - This account was established to handle the debt retire- ment for the $90,000 issue of Library Bonds of 1966. Transfers from the Liquor Operating Fund are made to this account to provide the money required for payment of bonds and interest. MUNICIPAL LIQUOR OPERATING FUND This fund was established to account for the operation of the City owned liquor stores. Percentages and detailed statements by stores are included in the report as additional aids in reviewing results of operations. Shown below is a condensed summary of liquor store operations for 1966, 1967 and 1968. 1968 1967 1966 Percent Percent Percent of sales of sales of sales Sales Off sale $ 786,963 76.06 $725,973 76.49 $672,927 75.76 On sale 247,678 23.94 223,119 23.51 215,285 24.24 Total sales $1,034,641 100.00 $949,092 100.00 $888,212 100.00 Cost of sales 691,595 66.84 636,187 67.03 599,649 67.52 Gross profit $ 343,046 33.16 $312,905 32.97 $288,563 32.48 Operating expenses 204,753 19.79 190,103 20.03 182,532 20.55 Operating income $ 138,293 13.37 $122,802 12.94 $106,031 11.93 Other income and expense (net) 9,995 .96 4,751 .50 22813 .32 Net income Percent of Percent of Percent of net income net income net income Transfers to other City Funds $ 120,000 80.92 $1 78.40 82.58 PUBLIC UTILITY FUNDS Water and Sewer utilities operating funds - These funds account for the operations of the City owned water and sanitary sewer systems, Fixed assets of these utilities are not included on the balance sheet and depreciation thereof is not shown as an operating expense since the City does not maintain fixed asset ledgers for the utility systems. During 1965 and 1966, revenue bonds in the amount of $310,000 were sold. Revenues of the Water Utility Operating Fund are pledged for payment of principal and interest on these bonds. Utility revenue is also pledged to repay a loan of $100,650 to the Storm Sewer Bonds of 1965 Account. 7 PUBLIC UTILITY FUNDS (CONTINUED) Water and Sewer utilities operating funds (Continued) In accordance with the terms of a contract between the City of Columbia Heights and the City of Minneapolis, dated July 1, 1965, Columbia Heights has agreed to lease perpetually from Minneapolis a 6,200,000 gallon volume share of capacity in the Minneapolis Hilltop reservoir for $458,000 payable in annual amounts of $91,600 with final payment due in 1970. At its option, Columbia Heights may also acquire an additional 1,000,000 gallon share of capacity from Minneapolis for $61,000. ® A condensed summary of 1968 utility operations with budget estimates presented for comparison is shown below. Water Sewer Budget Budget Actual estimates Actual estimates Revenue Water sales $266,832 $261,000 Sewer rental $129,570 $142,000 Other 162554 15,480 369 29000 Total revenue $283,386 $2761480 $129,939 $144,000 Expenses Source of supply $114,944 $140,000 Collection $ 53,735 $ 48,850 Distribution 48,597 54,640 Disposal 46,212 44,000 ' Administrative and general 18,455 28,090 8,844 16,100 Other 14,119 14,600 138 1,900 Total expenses $196,115 $237,330 $108,929 $110,850 ' Net income 87,271 39,150 21,010 33,150 Capital outlay expenditures Water System Improvement Fund Transfer to General Debt Service Fund Other Total capital outlay expenditures Decrease in fund balance $110,000 $ 35,500 $ 19,665 $ 30,000 22595 3,650 2,445 3,150 $112,595 39,150 22 110 33,150 Water System Improvement Fund - This fund was established in 1965 to account for the proceeds from the sale of Water System Bonds. The bond proceeds are used for con- struction and improvement of the City's Water distribution system. Debt retirement is being accounted for in the General Debt Service Fund. An amount of $110,000 was received in 1968 from the Water Operating Fund of which $91,600 was paid to the City of Minneapolis in accordance with the lease contract referred to above. An ad- ditional $20,246 will be required to finance construction obligations outstanding at December 31, 1968. Pension Fund - This fund was established to account for the collection of general property taxes levied and other revenue to pay for the City's share of the con- tributions to the Public Employees' Retirement Association and Social Security Administration. 8 CITY OF COLUMBIA HEIGHTS, MINNESOTA BALANCE SHEETS - ALL FUNDS DECEMBER 31, 1968 Special Note - General fixed assets owned by the City are not included in the financial state- ments since records thereof are not maintained. General revenue Combined Fund funds ASSETS Cash (deficit) $ 808,296 $(14,051) $ 41,192 Petty cash and change funds 3,060 385 275 Cash with fiscal agents 330,855 12,822 Investments, at cost 44,646 Accounts receivable Other City funds 159,659 5,070 672 Other 182,754 69,735 17,404 Taxes receivable Delinquent 281805 24,883 789 Deferred 2,653,481 Accrued interest receivable 10,900 1,320 Special assessments receivable Delinquent (principal and interest) 150,614 Deferred (principal only) 557,309 Inventories, at cost 120,835 Prepaid expenses 15,768 Unassessed costs 170,609 Deferred charges 183,200 Bonds authorized - Not issued 100,000 100,000 Amounts to be provided by future revenues 724,588 66,401 84,314 Fixed assets (Municipal Liquor Operating Fund only) at cost, less accumulated depreciation 197,918 Total assets $6.443.297 ,$152,423 1258,788 LIABILITIES, RESERVES AND FUND BALANCE Liabilities Accounts payable Other City funds $ 159,659 $ 9,005 $ 5,742 Other 486,837 86,015 52,401 Deposits 15,446 Bonded indebtedness Matured bonds and interest 330,855 12,822 Future maturities Bonds 3,093,000 48,000 Interest 624,790 3,408 Reserves 1,363,199 88,598 128,673 Retained earnings 379,556 Fund balance (deficit) (10,045) (31,195) 7,742 Total liabilities, reserves and fund balance $6.443.297 115J..4Q $258,788 Note - General fixed assets owned by the City are not included in the financial state- ments since records thereof are not maintained. Storm Sewer Permanent General Municipal Con- Improvement Debt Liquor Public struction Revolving Service Operating utility Pension Fund Fund Fund Fund funds Fund $ 70,182 $103,734 $ 408,465 $ 93,799 $ 68,107 $ 36,868 2,400 318,033 44,646 15,553 349 137,982 33 7,352 88,263 2,528 39 566 2,653,481 1,630 3,150 2,730 2,070 150,614 557,309 114,691 6,144 1,923 13,845 170,609 183,200 559,532 14,341 197,918 8� ,$993, la 54.122.139 361,662 $ 37,332 $ 6,930 $100,650 15,137 $ 33,905 247,604 $ 51,775 15,446 $ 318,033 39045,000 621,382 52,561 955,643 137,724 379,556 13,408 �8 $993, la $4,122,139 JLU, 61 JjkL._kU $ 51 ZZ75 0j 10 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND BALANCE SHEET , DECEMBER 31, 1968 ASSETS Cash (deficit) $(14,051) Petty cash and change funds 385 Accounts receivable State Aid Construction Fund 5,070 Other 69,735 Delinquent taxes receivable 24,883 Amount to be provided by future revenues for General Debt Service Fund Loan - Purchase of fire truck 8,623 Payment of special assessments 57,778 Total assets 1152,423 LIABILITY, RESERVE AND FUND BALANCE Liability - Accounts payable Other City funds Storm Sewer Construction Fund $ 8,623 Permanent Improvement Revolving Fund 349 Water Operating Fund 33 Special assessments 57,778 Other 28,237 Reserve for unrealized revenue 88,598 Fund balance (deficit) 3( 1,195) Total liability, reserve and fund balance 1152x423 r r CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1968 11 Actual over Budget (under) Actual estimates estimates General property taxes Taxes $ 568,661 State property tax relief fund Homestead tax aid 112,544 Exempt property tax replacement 31,983 Penalties and interest on taxes 22470 $ 715,658 $ 706,925 8,733 Licenses and permits Business $ 15,825 $ 13,975 $ 1,850 Nonbusiness 27,129 19,420 7,709 Street use 1,082 12150 68) $ 442036 $ 34,545 9,491 Fines and forfeitures Court fines $ 15,892 $ 12,700 $ 3,192 Other 416 550 ( 134) $ 16,308 $ 13,250 3,058 Revenue from use of money and property Rents $ 1,380 $ 1,380 Revenue from other agencies - Shared taxes Per capita apportionment $ 81,537 $ 81,000 $ 537 Cigarette and liquor taxes 78,697 80,000 ( 1,303) Mortgage registry 3,025 3,025 Mobile homes 112 112 Anoka County - Street maintenance 6,020 4,700 1,320 Park improvement grants 62234 12,000 5,766) $ 175,625 $ 177,700 2,075) Charges for current services General government $ 350 $ 100 $ 250 Public safety 1,578 1,400 178 Highways 24,762 22,000 2,762 Library 2,083 1,500 583 Park 15,886 15,900 ( 14) Parking meters 3,202 32200 2 $ 47,861 $ 44,100 3 761 Refuse collections $ 81,737 $ 76,020 5,717 Sale or compensation for loss of property $ 1,252 $ 96,210 $(94,958) Refunds $ 16,978X $ 10,880 6,098 Other revenue $ 1,317 $ 1,100 217 Transfer from Liquor Operating Fund $ 42,534 $ 36,350 6,184 Total revenue $1.144,686 $1.198.460 a) 11 12 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES YEAR ENDED DECEMBER 31, 1968 Actual over Budget (under) Actual estimates estimates General Government Mayor and Council Personal services $ 9,795 $ 9,800 $( 5) Contractual services 61 61 Commodities 522 500 22 Other charges 1,751 2,800 ( 1,049) Refunds 298 298 12,427 $ 13,100 $( 673) City Manager Personal services $ 27,001 $ 27,900 $( 899) Contractual services 912 725 187 Commodities 78 5 73 27,991 28,630 639) Municipal Court Personal services $ 10,753 $ 10,060 $ 693 Contractual services 122 180 ( 58) Commodities 48 260 ( 212) Other charges 35 50 ( 15) Capital outlay 50 50) 10,958 $ 102600 358 Election and Voters Registration Personal services $ 5,334 $ 3,600 $ 1,734 Commodities 842 22400 1,558) 6 176 6,000 16 Finance Clerk- Treasurer Personal services $ 9,457 $ 10,625 $( 1,168) Contractual services 4,129 2,950 1,179 Commodities 2,101 2,400 ( 299) Other charges 20 300 ( 280) Capital outlay 233 233 Assessing Personal services 9,670 19,250 ( 9,580) Contractual services 361 375 ( 14) Capital outlay 133 700 ( 567) Commodities 468 468 Accounting Personal services 10,763 12,300 ( 1,537) Independent Accounting and Auditing 3,750 3,750 41,085 52,650 $(11,.565) I I ' CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND I STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1968 I I General Government (Continued) Legal Personal services Contractual services Civil Service Commission - Other charges Board of Equalization - Other charges Planning - Personal services General Government Buildings Personal services Contractual services Other charges Capital outlay Total general government Public Safety Police Protection Personal services Contractual services Commodities Other charges Capital outlay Fire Protection t Personal services Contractual services Commodities Other charges Capital outlay Protective Inspection Personal services Contractual services Other charges Animal Control - Contractual services Total public safety Actual $ 8,442 25 8 467 $ 138 4,899 $ 4,904 15,935 75 2.509 23,423 $1352564 $167,469 3,996 10,963 18,727 5.383 $2061538 $ 88,727 2,232 2,139 20,784 2.635 $1162517 $ 23,321 168 279 23,768 3,300 $350,123 Budget estimates $ 7,900 25 7 925 300 3,000 $ 4,425 19,650 10 2.300 26,385 $148,595 $160,150 6,130 11,350 18,840 5.500 201 970 $ 85,730 2,200 1,850 20,770 2,250 $112,800 $ 23,250 225 2$ 3,475 3,600 $341,845 13 Actual over (under) estimates $ 542 542 L6 2) $ 5) 1,899 $ 479 ( 3,715) 65 209 2,962) $(13,031) $ 7,319 ( 2,134) ( 387) ( 113) 117) 4 568 $ 2,997 32 289 14 385 $ 3,717 $ 71 ( 57) 279 293 300) 8,278 14 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND _STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1968 Traffic Signs, Signals and Markings Contractual services $ 3,581 $ 3,100 Actual Commodities 1,707 2,200 over Other charges 23 Budget (under) Capital outlay Actual estimates estimates Highways 37,972 11,400 $ 26,572 Engineering Personal services $ 25,985 $ 21,650 $ 4,335 Contractual services 557 1,600 ( 1,043) Commodities 579 1,200 ( 621) Other charges 71 71 Capital outlay 40 12200 1,160) 27,232 $ 252650 1,582 Street and Alley Personal services $ 99,600 $118,000 $(18,400) Contractual services 12,538 11,450 1,088 Commodities 27,113 31,905 ( 4,792) Other charges 248 1,175 ( 927) Capital outlay 14,749 11,900 21849 $154,248 $174,430 $(20,182) Traffic Signs, Signals and Markings Contractual services $ 3,581 $ 3,100 $ 481 Commodities 1,707 2,200 ( 493) Other charges 23 100 ( 77) Capital outlay 322661 6,000 26,661 37,972 11,400 $ 26,572 Street Lighting Contractual services $ 22,417 $ 23,500 $( 1,083) Other charges 180 180 22,597 $ 23,500 $( 903) Parking Meters Personal services $ 971 $ 1,200 $( 229) Commodities 25 1,600 ( 1,575) Other charges 2,402 2,000 402 Capital outlay 75 100 �� 25) 3,473 4,900 1 427) Tree Trimming and Removal Contractual services 446 1,000 $ ( 554) Total highways $245,968 $240,880 5,088 15 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINilED) YEAR ENDED DECEMBER 31, 1968 Actual over Budget (under) Actual estimates estimates Sanitation and Waste Removal Storm Sewer Personal services $ 1,636 $ 1,636 Commodities 11 11 1 647 1,647 Refuse Collection and Disposal Personal services $ 3,686 $ 3,200 $ 486 Contractual services 56,240 54,000 2,240 Commodities 1,094 1,100 6) 61,020 58,300 2,720 Weed Control Personal services $ 1,133 $ 1,500 $( 367) Other charges 327 300 27 1,460 $ 1,800 340) Total sanitation and waste removal 64,127 60,100 4,027 Library Personal services $ 21,628 $ 20,500 $ 1,128 Contractual services 8,138 8,500 ( 362) Commodities 13,942 15,000 ( 1,058) Other charges 68 175 ( 107) Capital outlay 1,150 800 350 Total library 44 926 44,975 49) Park Department Parks Personal services $ 66,867 $ 73,180 $( 6,313) Contractual services 4,123 4,870 ( 747) Commodities 8,778 6,140 2,638 Other charges 360 380 ( 20) Capital outlay 57,877 69,375 (11,498) Sales tax collections 171 171 Refunds 75 50 25 Merchandise for resale 62204 89000 1,796) $144,455 $1612995 17 540) Wading Pools Personal services $ 690 $ 500 $ 190 Commodities 456 500 ( 44) 1,146 1,000 146 17 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEAR ENDED DECEMBER 31, 1968 Actual over Budget (under) Actual estimates estimates Park Department (Continued) Skating Rinks Personal services $ 6,164 $ 5,500 $ 664 Commodities 21107 21500 ( 393) $ 81271 $ 8,000 $ 271 Bowling Alleys Commodities $ 1 $ 60 $ ( 59) Other charges 50 ( 50) $ 1 $ 110 $ ( 109) Total park department $ 153,873 $ 171,105 $;( 17,232) Unallocated General Expense Other charges $ 23,774 $ 22,960 $ 814 Refunds 241 241 $ 24,015 L__222960 $ 1,055 Transfers to other City funds $ 21,000 $ ( 21,000) Total expenditures $1.018.596 $1.05.1.460 $ ( 32.864) Excess of revenue over expenditures $ 126,090 $ 147,000 $ ( 20,910) Fund balance (deficit) January 1, 1968 (157,285) (157,285) Fund balance (deficit) December 31, 1968 F CITY OF COLUMBIA HEIGHTS, MINNESOTA SPECIAL - REVENUE FUNDS BALANCE SHEETS - DECEMBER 31, 1968 Combined ASSETS Cash $ 41,192 Petty cash and change funds 275 Cash with fiscal agents 12,822 Accounts receivable State Aid Maintenance Fund 672 Other 17,404 Accrued interest receivable 1,320 Delinquent taxes receivable 789 Bonds authorized - not issued 100,000 Amounts to be provided by future revenues for Debt retirement 50,736 Repayment of loan from Apache Realty Fund 33,578 Total assets .258,788 LIABILITIES, RESERVE AND FUND BALANCE Liabilities Accounts payable Other City funds General Fund $ 5;,071 State Aid Debt Service Fund d- Other 52,401 Bonded indebtedness Matured bonds and interest 12,322: Future maturities Bonds 48,000 Interest 3,408 Reserves for Encumbrances 1499;5 Unrealized revenue 1,589 Authorized improvements 112,139 Fund balance (deficit) 7,742 Total liabilities, reserve and fund balance ' 19 Civil State aid funds Mayor's Recreation Defense Main- Con- Debt Contingent Fund Fund tenance struction service Fund $2,667 $5,690 $ 201 $ 32,478 $156 275 $12,822 672 800 16,604 1,320 701 88 ' 100,000 50,736 ' 33,578 $6x578 s 201 64.230 5156 $ 5,070 $ 672 $ 491 $ 84 51,826 $12,822 48,000 3,408 14,945 701 888 112,139 2,451 5,606 471) 156 .643 ,6,578 $ 201 $183,98Q U56 20 CITY OF COLUMBIA HEIGHTS, MINNESOTA RECREATION FUND STATEMENT OF REVENUE EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1968 Expenditures Personal services $ 34,152 $ 33,950 Actual. 202 Contractual services 1,011 over ( 264) Budget (under) 500 Actual estimates estimates Revenue 2,735 ( 281) General property taxes $ 16,140 600 ( State property tax relief fund Other expense 65 Homestead tax aid 3,160 Playground after school programs 1,520 Exempt property tax replacement 910 120 Athletic suppl.ies 1,266 $ 20,210 $ 20,000 $ 210 Contribution from Independent School 1,975 1,900 District No. 13 20,000 20,000 3,200 Fees 4,724 5,000 ( 276) Refunds 254 380 X126) Total revenue 45,188 45,380 192) Expenditures Personal services $ 34,152 $ 33,950 $ 202 Contractual services 1,011 1,275 ( 264) Commodities 620 500 120 Other charges 2,454 2,735 ( 281) Capital outlay 442 600 ( 158) Other expense 65 65 Playground after school programs 1,520 1,400 120 Athletic suppl.ies 1,266 1,600 ( 334) Referee fees 1,975 1,900 75 Beach supervision 3,461 3,200 261 Total expenditures $ 46,966 $ 47,160 $( 194) Revenue over (under) expenditures $( 1,778) $( 1,780) $ 2 Fund balance January 1, 1968 4,229 4,229 Fund balance December 31, 1968 1-2-1451 t ? $ 2 t t CITY OF COLUMBIA HEIGHTS, MINNESOTA CIVIL DEFENSE FUND STATEMENT OF REVENUE EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1968 Actual over Budget (under) Actual estimates estimates Revenue General property taxes $ 1,226 $ 8,150 $( 1,068) State property tax relief fund 646 1,450 ( 804) Homestead tax aid 243 600 109 Exempt property tax replacement 65 1,850 ( 123) Capital outlay $ 1,534 $ 1,500 $ 34 Federal aid 3,433 4,350 ( 917) Donations 509 $ -0- 509 Interest earned 90 22853 90 Refunds 170 200 ( 30) Transfer from Liquor Operating Fund 10,000 102000 Total revenue 15,736 16,050 314) Expenditures Personal services $ 7,082 $ 8,150 $( 1,068) Contractual services 646 1,450 ( 804) Commodities 709 600 109 Other charges 1,727 1,850 ( 123) Capital outlay 2,819 4,000 ( 1,181) Total expenditures 12,983 16,050 3,067) Revenue over (under) expenditures $ 2,753 $ -0- $ 2,753 Fund balance January 1, 1968 22853 22853 Fund balance December 31, 1968 $ 56062$ $ 2,753 21 t CITY OF COLUMBIA HEIGHTS, MINNESOTA STATE AID FUNDS STATEMENTS OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 23 Con- Debt Maintenance struction Service Cash balance (deficit) January 1, 1968 9 897) 10,101) 1 528 Receipts Shared State gasoline tax allotted for Street maintenance $ 12,501 Street construction $ 98,641 Payment of interest on bonds 1,494 Loan from Apache Realty Fund 33,578 Interest earned 552 Refunds 261 1,500 Transfers from other.;City funds State aid maintenance $ 20 State aid construction 12,000 General Debt Service Fund 117 Total receipts 14,808 $133,719 12,137 Disbursements Personal services $ 71 $ 4,558 Contractual services 1,560 70,957 Commodities 3,059 2,386 Other charges 1,239 Transfer to State Aid Debt Service Fund for payment of bonds and service charges 20 12,000 Bond maturities $ 12,000 Interest on bonds 1,644 Fiscal. agent's service charges 21 Total disbursements 4,710 91 140 13,665 Cash balance December 31, 1968 L 201 � 32,478 $ -0- 23 24 CITY OF COLUMBIA HEIGHTS, MINNESOTA STORM SEWER CONSTRUCTION FUND BA -ANCE SHEET DECEMBER 31, 1968 ASSETS Cash $70,182 Accounts receivable - Other City funds General Fund 89623 Permanent Improvement Revolving Fund 6,930 Delinquent taxes receivable 2,528 Accrued interest receivable 1,630 Total assets $89,893 LIABILITY AND RESERVE Liability - Accounts payable General Debt Service Fund Reserve for authorized improvements $37,332 52,561 Total liability and reserve 8 3 1 ' CITY OF COLUMBIA HEIGHTS, MINNESOTA STORM SEWER CONSTRUCTION FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 1 Cash balance January 1, 1968 55,041 Receipts General property taxes $ 61,531 State property tax relief fund Homestead tax aid 1,702 Exempt property tax replacement 2,964 $ 66,197 Interest earned 5,303 Reimbursement State of Minnesota - Flood relief 9,973 Transfers from other City funds Liquor Operating Fund 10,000 Water Operating Fund 62971 ' Total receipts 98,444 Disbursements Personal services Contractual services Commodities Other charges Transfer to other City Storm Sewer Bonds of Storm Sewer Bonds of Total disburses $ 2,448 3,355 1,835 1,533 funds 1964 account 42,368 1965 account 312764 nents $ 83,303 Cash balance December 31, 1968 1 2 25 26 CITY OF COLUMBIA HEIGHTS, MINNESOTA PERMANENT IMPROVEMENT REVOLVING FUND BALANCE SHEET m DECEMBER 31, 1968 ASSETS Cash $103,734 Accounts receivable General Fund 349 Other 7,352 Delinquent taxes receivable 39 Special assessments receivable Delinquent (principal and interest) 150,614 Deferred (principal only) 557,309 Accrued interest receivable 3,150 Unassessed costs Storm Sewer 25,591 Other 145,018 Total assets 1993 -156 LIABILITIES AND RESERVES Liabilities Accounts payable Storm Sewer Construction Fund $ 6,930 Other 1.5,137 Deposits 15,446 Reserves for Encumbrances 47,381 Payment of bonds and interest 9082262 Total liabilities and reserves (1) Bonded indebtedness (principal and interest) corresponding to bond proceeds used to finance storm sewer construction is to be paid by a general property tax levy and special assessments. Taxes for this purpose in the amount of $55,000 were levied for collection in 1969. (2) Substantially all of other unassessed costs are to be assessed against benefited property. (3) The City is following the practice of transferring from this fund to the General Debt Service Fund (Permanent Improvement Revolving Fund Account) amounts equal to bond and.interest payments made from the account and canceling corresponding annual collectible amounts of deferred taxes receivable shown in the account, 27 CITY OF COLUMBIA HEIGHTS, MINNESOTA PERMANENT IMPROVEMENT REVOLVING FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 Cash balance January 1, 1968 224,523 Receipts General property taxes $ 146 Special assessments Collected by City 268,608 Collected by County Principal 98,155 Interest and penalties 3,561 Interest on investments 16,795 Special assessment searches and other receipts 303 Private watermain charges 620 Refunds and reimbursements 900 Total receipts $389,088 Disbursements Personal services $ 34,034 Contractual services 59,478 Commodities 12,567 Other charges 21,799 Land purchases 4,353 Refunds and reimbursements 17 Purchase of delinquent utility accounts receivable 775 Transfer to General Debt Service Fund 3762854 Total disbursements $509,877 Cash balance December 31, 1968 3 74 RX CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL DEBT SERVICE FUND BALANCE SHEET m DECEMBER 31, 1968 Permanent Improvement Revolving Fund Bonds Total Account ASSETS Cash $ 408,465 $ 271,973 Cash with fiscal agents 318,033 214,108 Investments, at cost City of Columbia Heights Bonds 44,646 44,646 Accounts receivable Storm Sewer Construction Fund 37,332 37,332 Water Operating Fund 100,650 Deferred taxes receivable` 2,653,481 776,363 Amount to be provided by future revenues 559,532 163,758 Total assets $4,122,139 $1.508.180 LIABILITIES AND RESERVE Bonded indebtedness Matured bonds and interest $ 318,033 $ 214,108 Future maturities Bonds 3,045,000 1,195,000 Interest 621,382 99,072 Reserve for payment of bonds and interest 137,724 Total liabilities and reserve ,$4,122,139 X1,508,180 'The City is following the practice of canceling current collectible amounts of deferred taxes receivable shown for all bond issues, except the Storm Sewer Bonds of 1964 Account and Storm Sewer Bonds of 1965 Account, since amounts equal to bond and interest payments made from these accounts are transferred from other City funds, t t Municipal Storm Storm Building Park Sewer Sewer Water Library Bonds Bonds Bonds Bonds System Bonds of 1959 of 1962 of 1964 of 1965 Bonds of 1966 Account Account Account Account Account Account $ 12,895 $ 33,716 $ 43,887 $ 32,947 $ 10,892 $ 2,155 11,622 68 39,260 31,685 5,180 16,110 100,650 70,770 262,050 276,500 1,234,550 33,248 22,374 360,503 12,897 $318,208 6 7 X10399,832 5376 575 $ 64,410 $ 11,622 $ 68 $ 39,260 $ 31,685 $ 5,180 $ 16,110 70,000 265,000 245,000 915,000 310,000 45,000 7,865 53,140 29,960 366,650 61,395 3,300 52800 452427 862497 L_25,287 $318208 $359,647 $1,,399,832 5316,575 5 64'410 29 30 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL DEBT SERVICE FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 Permanent Improvement Revolving Fund Bonds Combined Account Cash balance January 1, 1968 $419,737 $285,552 Receipts Transfers from other City funds Storm Sewer Construction Fund $ 74,132 Permanent Improvement Revolving Fund 376,854 $376,854 Liquor Operating Fund 57,466 Water Operating Fund 10,394 Sewer Operating Fund 19,665 19,665 Total receipts $538,511 $396,519 Disbursements Bonds maturities $430,000 $355,000 Interest on bonds 118,830 54,403 Fiscal agents' service charges 836 578 Transfer to State Aid Debt Service Fund 117 117 Total disbursements $549,783 $410,098 Cash balance December 31, 1968 ,408.4-65 $2711973 31 Municipal $15,000 Storm Storm $15,000 Building Park Sewer Sewer Water Library Bonds Bonds Bonds Bonds System Bonds of 1959 of 1962 of 1964 of 1965 Bonds of 1966 Account Account Account Account Account Account $13,274 $29,413 44,948 $32,948 $10,892 2 710 $12,711 12 711 $28,066 $28,066 $42,368 $42,368 $31,764 $31,764 $10,394 $10,394 $16,689 $16,689 $10,000 $15,000 $35,000 $15,000 3,070 8,722 8,365 $31,685 $10,365 2,220 20 41 64 .. 80 29 24 $13,090 $23,763 '43 429 $31,765 $10,394 $172244 12 3 16 3 8 122 7 10$22 �S 2155 33 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR OPERATING FUND BALANCE SHEET - DECEMBER 31, 1968 ASSETS CURRENT ASSETS Cash $ 93,799 Petty cash and change funds 2,400 Accrued interest receivable 2,730 Inventories, at cost 114,691 Prepaid insurance 12923 Total current assets $215,543 FIXED ASSETS, at cost Land and improvements $ 34,915 Buildings and improvements 185,226 Furniture and equipment 73,217 Total cost $293,358 Less accumulated depreciation 95,440 Total fixed assets (net) $1979918 Total assets 413.461 LIABILITY AND RETAINED EARNINGS CURRENT LIABILITY Accounts payable - Other 33,905 RETAINED EARNINGS Invested in fixed assets (net fixed assets) $197,918 Net working capital (current assets less current liabilities) 181,638 Total retained earnings $379,556 Total liability and retained earnings A 413,461 34 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR OPERATING FUND STATEMENTS OF OPERATING INCOME FOR INDIVIDUAL STORES Sales Cost of sales Gross profit Percent of sales Operating expenses Percent of sales Operating profit Percent of sales Other income Percent of sales Net income Percent of sales YEAR ENDED DECEMBER 31, 1968 Total all stores $1,034,641 691,595 $ 343,046 $ 204,753 19.79% $ 138,293 11.37% $ 9,995 $ 148,288 14.33°/ ANALYSIS OF CHANGES IN RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1968 Retained earnings January 1, 1968 $351,268 Net income 148,288 Transfers to other City funds 12( 0,000) Retained earnings December 31, 1968 Ja7 Total $786,963 601,713 $185,250 23.53% $ 95,747 12.17% $ 89,503 11,36% Off sale stores No. 1 $307;276 232,986 $ 74,290 24.18% $ 36,111 11.75% $ 38,179 12.43% No. 2 $209,081 160,543 $ 48,538 23.21% $ 28,430 13.60% $ 20,108 9.61% No. 3 $270,606 208,184 $ 62,422 23.07% $ 31,206 11.53% $ 31,216 11.54% On sale store $247,678 89,882 $157,796 63.71% $109,006 44.01% $ 48,790 19.70% 35 36 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR OPERATING FUND STATEMENTS OF OPERATING EXPENSES FOR INDIVIDUAL STORES YEAR ENDED DECEMBER 31, 1968 Total Total all Percent stores of sales Salaries and wages $1.49,316 $ 68,486 8.70 Pension contributions 11,010 4,772 .61 Employees' welfare 3,231 637 .08 Laundry 1,515 386 .05 Bar supplies 722 Store supplies 2,747 2,040 ,26 Office supplies 202 158 .02 Store expense 9,288 2,894 .37 Telephone 732 654 .08 Utilities 7,189 4,465 .57 Insurance and bonds 6,260 4,100 .52 Depreciation 9,624 5,168 .66 Maintenance and repair 1,896 1,209 .15 Licenses and memberships 121 103 .01 Professional services 900 675 .09 Total operating expenses X204 X753 $ 95,747 12.17 7 L..' 1 1 Off sale stores No. 1 No. 2 No. 3 On sale Percent Percent_ Percent Percent of sales of sales of sales of sales $ 26,050 8.48 $ 21,123 10.10 $ 21,313 7.88 $ 80,830 32.64 t 1,730 .56 1,446 .69 1,596 .59 6,238 2.52 337 .11 150 .07 150 .06 2,594 1.05 173 .05 81 .04 132 .05 1,129 .46 t 722 .29 1,166 .38 375 .18 499 .18 707 .29 80 .03 33 .02 45 .02 44 .02 ' 1,043 .34 712 .34 1,139 .42 6,394 2.58 308 .10 151 .07 195 .07 78 .03 1,362 .44 1,032 .49 2,071 .77 2,724 1.10 1,448 .48 1,244 .59 1,408 .52 2,160 .87 ' 1,852 .60 1,340 .64 1,976 .73 4,456 1.79 304 .10 483 .23 422 .15 687 .27 33 .01 35 .02 35 .01 18 01 ' 225 .07 225 .11 225. .08 225 .09 11 11.75 2 30 13.59 11.53 S� /�/t.0�, 37 M ASSETS CITY OF COLUMBIA HEIGHTS, MINNESOTA PUBLIC UTILITY FUNDS BALANCE SHEETS DECEMBER 31, 1968 CURRENT ASSETS Cash (deficit) Accounts receivable General Fund Customers Accrued interest receivable Inventory - Water meters, at cost Prepaid interest Total current assets DEFERRED CHARGES Total assets LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts payable City of Minneapolis, Minnesota Other Total current liabilities DEFERRED LIABILITIES City of Minneapolis, Minnesota General Debt Service Fund - Storm Sewer Bonds of 1965 Account Total deferred liabilities FUND BALANCE (deficit) Total liabilities and fund balance Water Water Sewer System Operating Operating Improvement Combined Fund Fund Fund $ 68,107 $ 66,462 $( 3,211) $ 4,856 33 33 88,263 54,746 33,517 2,070 2,070 6,144 6,144 13,845 13,845 $178,462 $143,300 $ 30,306 $ 4,856 183,200 183,200 61 62 121L,500 30,306 $ 4,856 $124,888 $101,012 $ 23,876 31,116 4,417 1,197 25,502 $156,004 $105,429 25,073 25,502 $ 91,600 $ 91,600 100,650 100,650 $192,250 $192,250 13,408 28,821 5,233 20,646 361 662 326 00 ,8 30,306 I-4,85& Note - Fixed assets are not shown in this statement since their cost or present value was not available. Accordingly, depreciation is not included as an operating expense. ' CITY OF COLUMBIA HEIGHTS, MINNESOTA WATER OPERATING FUND STATEMENT OF INCOME AND FUND BALANCE YEAR ENDED DECEMBER 31, 1968 Operating revenue Water sales $266,832 Hydrant rental 4,000 Meter sales - Net (Gross $5,633 less cost of sales $4,950) 683 Service connections 722 Penalties 2,300 Miscellaneous 828 1 Total operating revenue Operating expenses (see footnote) ' Source of supply - Contractual services $114,944 Distribution Personal services 35,125 Contractual services 7,364 ' Commodities 5,643 Other charges 465 Administrative and general ' Personal services 10,594 Contractual services 1,615 Commodities 775 ' Other charges 5,471 Total operating expenses ' Operating income Other income and expense Interest earned $ 8,021 Interest on special assessments ( 240) Interest on revenue bonds (132879) Net income Fund balance, January 1, 1968 Add - Adjustment to set up prepaid interest January 1, 1968 Deduct Capital outlay expenditures Equipment $ 2,595 Transfer to Water System Improvement Fund 110,000 ' Fund balance, December 31, 1968 $275,365 $181,996 $ 93,369 ( 6,098) $ 87,271 43,785 10,360 ' Note - Depreciation is not included as an operating expense. See note on balance sheet. 112,595 2 21 39 40 CITY OF COLUMBIA HEIGHTS, MINNESOTA SEWER OPERATING FUND STATEMENT OF INCOME AND FUND BALANCE YEAR ENDED DECEMBER 31, 1968 Operating revenue - Sewer rental $129,570 Operating expenses (see footnote) Collection Personal services $ 40,90. Contractual services 4,490 Commodities 7,894 Other charges 450 Disposal - Contractual services 46,212 Administrative and general Personal services 2,996 Contractual services 1,055 Commodities 310 Other charges 4,483 Total operating expenses $108,791 Operating income $ 20,779 Other income and expense Interest earned $ 369 Interest on special assessments ( 138) 231 Net income $ 21,010 Fund balance, January 1, 1968 6,333 Deduct Capital outlay expenditures ( 2,445) Transfer to General Debt Service Fund 1( 9,665) Fund balance, December 31, 1968 Note - Depreciation is not included as an operating expense. See note on balance sheet. 41 CITY OF COLUMBIA HEIGHTS, MINNESOTA WATER SYSTEM IMPROVEMENT FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 Cash balance January 1, 1968 5 862) Receipt - Transfers from Water Operating Fund 110,000 Disbursements Perpetual lease - City of Minneapolis reservoir $ 91,600 Water system improvements 72682 Total disbursements 99 282 Cash balance December 31, 1968 PENSION FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS YEAR ENDED DECEMBER 31, 1968 Cash balance January 1, 1968 14,339 Receipts General property taxes $ 19,401 State property tax relief fund Per capita apportionment 40,000 Homestead tax aid 3,889 Exempt property tax replacement 1,118 Transfers from other City funds 19,942 Total receipts 84,350 Disbursements - Retirement contributions 61,821 Cash balance December 31., 1968 42 CITY OF COLUMBIA HEIGHTS, MINNESOTA r STATEMENT OF CASH AND SECURITY FOR DEPOSITS - DECEMBER 31, 1968 Face amount of securities Cash pledged as collateral Treasurer cash - Cash in banks Columbia Heights State Bank, Columbia Heights, Minnesota - Checking account $155,752 $ 218,000 Third Northwestern National Bank, Minneapolis, Minnesota Checking account. 4 Savings certificates 652,540 $1,250,000 Total treasurer cash 80 2 6 Additional coverage of $15,000 is provided at each depository bank by the Federal Deposit Insurance Corporation. SUMMARY STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS - ALL FUNDS YEAR ENDED DECEMBER 31, 1968 Cash balance Disburse- Cash balance Fund January 1, 1968 Receipts ments December 31, 1968 General Fund $(138,982) $1,139,045 $1,014,114 $(14,051) Special revenue funds Recreation 4,144 45,188 46,665 2,667 Civil Defense 2,891 15,736 12,937 5,690 State Aid Maintenance ( 9,897) 14,808 4,710 201 Construction ( 10,101) 133,719 91,140 32,478 Debt Service 1,528 12,137 13,665 Mayor's Contingent 156 156 Storm Sewer Construction Fund 55,041 98,444 83,303 70,182 Permanent. Improvement Revolving 224,523 389,088 509,877 103,734 General Debt Service 419,737 538,511 549,783 408,465 Liquor Operating 75,219 1,077,998 1,059,41.8 93,799 Public Utility funds Water Operating 101,968 290,712 326,218 66,462 Sewer Operating 1,848 127,990 133,049 ( 3,211) Water System Improvement ( 5,862) 110,000 99,282 4,856 Pension Fund 14,339 84,350 61,821 36,868 L-7!6.552 $4,077,726 �,00�,982 $808,296 t w i CITY OF COLUMBIA HEIGHTS, MINNESOTA BONDS PAYABLE ° ALL FUNDS DECEMBER 312 1968 MINIC'IPAL STATE AID BONDS DEBT SERVICE Municipal State Aid Street Bonds $12,000 per year $12,000 per year Total GENERAL DEBT SERVICE FUND Permanent Improvement Revolving Fund Bonds Account Permanent Improvement Revolving Fund Bonds $509000 per year Permanent Improvement Revolving Fund Bonds ,Tune 1, 1969 Permanent Improvement Revolving Fund Bonds $60,000 per year Permanent Improvement Revolving Fund Bonds $50,000 per year $50,000 per year Permanent Improvement Revolving Fund Bo -nd s January 1, 1970 $40,000 per year Issue Interest Maturity date rate date 1/1/63 2,70% 1/1/7071 2.90 1/1/7273 Principal 4 24,000 24,000 $ 48,000 9/1/57 4.50 12/1/69-72 $ 200,000 6/1/59 3.50 6/1/69 $ 55,000 7/1/60 3.70 7/1/69 ®71 $ 180,000 10/1/61 3.20 10/1/69-70 $ 100,000 3,40 10/1/7172 100,000 200,000 1/1/63 2.80 1/1/70 $ 40,00,0 3.00 1/1/7173 120,000 $ 160,000 Permanent Improvement Revolving Fund B(- -,,ids $100,000 per year 4/1/66 3.70 Total Permanent improvement Revolving Bonds Account Municipal Building Bonds of 1959 Account Municipal Building Bonds December 1, 1969 6/1/59 3.50 $10,000 per year 3.90 $10,000 per year 4.00 mo�;al Municipal Building Bonds of 1959 Account 1/1/7073 $ 400,000 $1,195,000 12/1/69 $ 10,000 12/1/7072 30,000 12/1/73-75 30,000 $ 70,000 43 44 CITY OF COLUMBIA HEIGHTS, MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1968 GENERAL DEBT SERVICE FUND (CONTINUED) Park Bonds of 1962 Account Park Bonds $20,000 per year $20,000 per year $25,000 per year $25,000 per year $30,000 per year Total Park Bonds of 1962 Account Storm Sewer Bonds of 1964 Account Storm Sewer Bonds Issue Interest Maturity date rate date Principal 2/1/62 2.70% 2/1/69 =70 $ 40,000 3.10 2/1/71 -72 40,000 3.10 2/1/73 -74 50,000 3.40 2/1/75 -77 75,000 3.50 2/1/78 -79 60,000 $ 265,000 December 1, 1969 12;!1/64 2.80 12/1/69 $ 35,000 $35,000 per year 3.00 12/1/70 -72 105,000 $35,000 per year 3.10 12/1/73 -75 105,000 Total Storm Sewer Bonds of 1964 Account $ 245,000 Storm Sewer Bonds of 1965 Account Storm Sewer Bonds $30,000 per year 10/1/65 3.10 1/1/71 -73 $ 90,000 January 1, 1974 3.20 1/1/74 30,000 January 1, 1975 3.20 1/1/75 35,000 January 1, 1976 3.40 1/1/76 35,000 $40,000 per year 3.40 1/1/77-78 80,000 January 1, 1979 3.40 1/1/79 45,000 January 1, 1980 3.50 1/1/80 45,000 January 1, 1981 3.50 1/1/81 85,000 January 1, 1982 3.50 1/1/82 95,000 January 1, 1983 3.60 1/1/83 105,000 January 1, 1984 3.60 1/1/84 130,000 January 1, 1985 3.60 1/1/85 140,000 Total Storm Sewer Bonds of 1965 Account $ 915,000 General Obligation Water Revenue Bond Account Water System Bonds of October 1, 1965 January 1, 1971. 10/1/65 3.10 1/1/71 $ 35,000 $25,000 per year 3.10 1/1/72 -73 50,000 $25,000 per year 3.20 l/l/74 -75 50,000 $25,000 per year 3.40 1/1/76 -79 100,000 January 1, 1980 3,50 l /l /80 25,000 $ 260,000 Water System Bonds of April 1, 1966 $25,000 per year 4/1/66 3.70 1/1/72 -73 50,000 Total General Obligation Water Revenue Bond Account $ 310,000 45 CITY OF COLUMBIA HEIGHTS, MINNESOTA BONDS PAYABLE - ALL FUNDS (CONTINUED) DECEMBER 31, 1968 Issue Interest Maturity date rate date Principal GENERAL DEBT SERVICE FUND (CONTINUED) Library Bonds of 1966 Account Library Bonds $15,000 per year 4/1/66 3,70% 1/1/70 -72 $ 45,000 Total General Debt Service Fund bonds payable $3,045,000 Total bonds payable - All funds $3,093,000 Note - January 1, 1969 maturities are considered as matured December 31, 1968, DEBT SERVICE REQUIREMENTS (PRINCIPAL AND INTEREST) - ALL FUNDS DECEMBER 31, 1968 Municipal State Aid Bonds Debt General Debt Year Total Service Fund Service Fund 1969 $ 551,990 $13,344 $ 538,646 1970 54.7,460 13,020 534,440 1971 546,557 12,696 533,861 1972 455,364 12,348 443,016 1973 169,070 169,070 1974 170,295 170,295 1975 166.,400 166,400 1976 122,425 122,425 1977 119,365 119,365 1978 126,205 126,205 1979 122,775 122,775 1980 104,800 104,800 1981 111,824 111,824 1982 118,500 118,500 1983 139,720 139,720 1984 145,040 145,040 x,9¢717,790 lliAOA $3.666,382 Note - January 1 maturities are considered matured December 31 of the preceding year. The above amounts are payable in the year shown, 46 CITY OF COLUMBIA HEIGHTS, MINNESOTA INSURANCE COVERAGE DECEMBER 31, 1968 Major insurance coverage at December 31, 1968 is summarized below: Fire and extended coverage (90% Co- insurance) Buildings $ 919,853 Contents 108,100 Liquor stock 137,000 Scheduled equipment floater 70,100 Comprehensive liability Bodily injury Automobiles 50/100,000 Except automobiles 50/300,000 Property damage Automobiles 50,000 Except automobiles 50,000 Minnesota Statutory Liquor Law liability 500,000 Boiler and Machinery 50,000 Business interruption - City liquor stores 125,650 Money and securities - Broad form Various Workmen's compensation Statutory Comprehensive general liability for recreation employees and volunteer workers - Property damage and personal injury 1,000,000 EMPLOYEES' SURETY BONDS DECEMBER 31, 1968 Alvin P. Theis City Treasurer $25,000 John S. Larson Assessor 500 All employees, except those listed above, are covered by an honesty blanket position bond of $5,000 with an additional $5,000 on the municipal liquor store manager. CITY OF COLUMBk HEIGHTS, MINNESOTA ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES (Shown by year of collectibility) Assessed valuations Real estate Personal property Total Tax levies General Fund Recreation Fund Civil Defense Fund Bonds Storm Sewer Bonds Storm Sewer Construction Sewer and water Pension Fund Total Mill rates General Fund Recreation Fund Civil Defense Fund Bonds Storm Sewer Bonds Storm Sewer Construction Sewer and water Pension Fund Total 47 1966 1967 1968 1969 $ 9,189,319 $ 9,331,589 $13,208,019 $13,161,859 11091,958 1,084,546 738,672* 7519938* $10.281,277 $10,416,135 $13,946,691 $13.913.797 7.78 $ 579,865 $ 694,120 $ 718,674 $ 719,794 16,347 17,500 20,450 22,024 3,393 3,500 1,461 1,915 1,953 1.72 1,83 79,988 56,300 55,945 52,667 10,000 10,663 14,363 1,953 4,000 25.124 25.471 56.40 66.63 49.20 51.73 1.59 1.68 1.40 1.58 .33 .34 .10 .14 .19 7.78 5.41 3.83 .96 .73 1,03 .19 .38 3.79 1.72 1,83 56.98 60.10 Does not include personal property exempted under laws enacted in 1967 by the Minnesota Legislature.