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HomeMy WebLinkAbout1976 Financial StatementsCITY OF COLL"M !I.-' MI. Vi A 1976 1 CITY OF COLUMBIA HEIGHTS, MINNESOTA ELECTED AND APPOINTED OFFICIALS YEAR ENDED DECEMBER 31, 1976 Term of Office 1 Expires January Elected Mayor Q Bruce G,, Nawrocki 1978 ' Council E. "Sebe" Heintz_ 1978 Walter Logacz 3978 Kenneth Hentges 198Ci ' Gayle Norberg 1980 ' Appointed City Manager d Malcolm 0. Watson Clerk - Treasurer e John E. Schedler ' Attorney _ Ronald S. Kalina Engineer - George F. Brown 1 1 t CITY OF COLUM-1A HEIGHTS, MINNESOTA TABLE OF CONTENTS Pam Comments I Accountants' opinion 1 General Fund Balance sheet 2 Statement of changes in fund balance 2 Statement of revenue - Actual compared with budget estimates 3 Statement of expenditures - Actual compared with budget estimates 5 Special revenue funds Balance she_is 10 Statements of revenue; expenditures and fund balance Recreation Fund i1 Civil Defense Fund 12 State -aid maintenance Fund 13 CETA Fund 13 Anti - precession Aid Fund 14 Revenue Sharing Fund 14 Investment Trust Fund Balance sheet 15 Statement of revenue, expenditures and fund balance 15 Capital project funds Balance sheets 16 Statements of revenue, expenditures and fund balance tS Special assessment fund Balance sheet 20 Statement of revenue, expenditures and fund balance 2). General Debt Service Fund Balance sheets 22 Statements of revenues, expenditures and fund balance 24 Liquor Fund Balance sheet 26 Statements of operating income - Statement of changes in retained earnings 27 Statement of changes in financial position 29, Statement of operating expenses :;:). Public utility funds Balance sheets 32 Water Operating Fuud Statement of income and fund balance 33 Statement of changes in financial position 34 CITY OF COLUMBIA HEIGHTS, MINNESOTA TABLE OF CONTENTS (CONTINUED) Page Public utility funds (Continued) Sewer Operating Fund Statement of income and fund balance 35 Stat:ea:cnt of changes in financial position 36 Water Debt Service Fund - Statement of revenue, expenditures and fund balance 37 Escrow Fund Balance sheet 38 Statement of receipts and disbursements 38 Statement of General Long -tern' Debt 39 Note to the financial statements 41 Supplemental information Balance sheets - All funds 44 Statement of cash and security for deposits 46 Statement of investments 46 Stimmary statement of cash receipts and disbursements - All funds 47 Bonds payable, All funds 48 Statement: of changes in bonded indebtedness; 50 Debt service requirements - All funds 50 Employees' surety bonds 50 Tax levies and collections 51 Special assessment levies nrd collections 51 Assessed valuation, tax levies and mill rates 52 CITY OF COLUMBIA HEIGHTS, MINNESOTA ICOMMENTS ' The City of Columbia Heights operates under a home rule charter which provides for a "Council- Manager Plan" of government. The City Manager, who is appointed by the Council, is the chief administrative officer of the City and is responsible to the Council for the proper administration of all affairs relating to the City. The Council is elected by popular vote and consists of five members including the Mayor, who is the presiding officer. GENTERAL FUND A plan of financial oper:.tion of the Fund is set forth in the annual budget. adopted by Council. The General Fund was established to account for the revenues and expenditures necessary to provide basic governmental services for the City such as general government, public safety and highways. The statements are prepared to show the budget estimate, actual amount and balance. A condensed summary of revenue, by source, and expenditures, by deparm�?nt, for ' 1976 and 1975 is shown below. 1976 1971 ' Budget Bu.dg et REVENUE Actual estimates Actual c ti ii: r ' General property taxes $1,03-4,407 $1,010,770 $1,205,385 $1.,2.1`;,27'_5 Licenses and permits 62,079 32,535 47,807 31, 240 Fines and forfeitures 47,096 21,400 25,573 27,�r•Ci; Revenue from other agencies 867,811 867,810 545,097 491,7_:x• ' Charges for current services 4.8,464 43,980 48,759 40,900 Refuse collections 2501008 248,000 249,458 2;6,000 Refunds 36,557 10,700 26,001 33,500 ' Other revenues 90,032 9,875 65,330 23,500 Transfers from other City funds 95,646 85,000 80,304 80,000 Total revenue �?,512�100 $2,30,070 $2,.297,714 $2,183,1-11 EXPENDITURES General government $ 331,259 $ 365,800 $ 277,016 $ 308,500 Public safety 760,395 768,780 744,547 736,185 Highways 441,057 464,725 435,239 446,190 Sanitation and waste removal 227,055 225,300 224,569 2 ?.3,700 Library 99,394 99,485 147,851 92,270 Park department 241,792 244,325 234,325 236,650 Other 60,386 109,500 33,553 72,8'0,0 Transfers to other City funds 527261 51,450 58,608 63 47.0 Total expenditures fi2.213.599 52.3`297365 _2 1 5 08 S2,, 179,]05 Revenues exeeded expenditures by $298,501, providing a fund balance of $591,399 at December 31, 1976. 1 ' I SPECIAL REVENUE FUNDS Special revenue funds are established to account for taxes and other revenues 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. Expenditures of $11.8,341 exceeded revenues by $8,573 during 1976 and decreased the fund balance to $2,289 at December 31, 1976. Civil Defense Fund - This fund was established to account for Civil Defense expenditures. Portions of these expenditures are reimbursed by the Federal Govern- ment through the State Department of Civil Defense. A general property tax levy finances the City's share of these costs. Revenues of $27,512 exceeded expenditures by $1,611 and increased the fund balance to $10,61,7 at December 31, 1976. State -aid Maintenance Fund - Gasoline tax collections apportioned to the Cite from the State of xiinnesota 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. The fund balance was $47,653 at December 31, 1976. CETA Fund - Salaries and related expenses that are reinbursed by Federal grants through Anoka County are accounted for in this fund. As all expenses are directly reimbursed, there is no fund balance. Anti-recession Aid Fund -• This ;_und was csi= ablished to account for revenue ;received from gift. Federal Government in accordance with the "Anti- recession Fiscal Aid Program." Expenditures can on1'v be made to maintain present services provided by the City. During 1976 the City expecnded the $17,730 that was received in aid. There is no fund balance at December 31, 1.976. Revenue Sharing Fund - The Revenue SFhar.irtg Fuz_ci was established to account for revenue received from the Federal. Government in accordance with the "State and Local Fiscal Assistance Act of 1972." Expenditures can only be made from this fund as outlined in the Act, The revenue for 1.976 was $163,246. Expendi_,Jres for 1976 were $226,692. As of December 31, 1976 $41,953 was available for additional expenditures. INVESTMENT TRUST FUND This fund was established to serve as a convenient means of accounting for inmporary investment of City funds. Interest earned on investments is apportioned to the other funds on the basis of advances made to the Investment Fund. Interest apportioned during 1976 amounted to $121,051. CAPITAL PROJECT FUNDS State -aid Construction Fund - Gasoline tax collections apportioned to the City from the State of Miun.esota for street construction are accounted for in this fund. A portion of allotmer.ts is pledged to pay State -aid bonds as they mature. II CAPITAL PROJECT FUNDS (Continued) Central Avenue Urbanization Fund - This fund was created to account for funds received and expended for certain improvements to Central Avenue. Thy: fund had a fund balance of $5,554 at December 31, 1976. Water Main Fund - This fund was established to account for the costs of certain water improvements. These costs are being financed by transfers from other funds. This fund was closed during 1976. Park Improvement Fund - Funding was provided by a U. S. Department of Housing and Urban Development grant of $113,291, a grant from the State of Minnesota of $59,875 and transfers from the General Fund. The financing is being used for the development and improvemt-,r.t. of LaBelle Park. Expenditures for 1976 we :-� $4,840, leaving $33,549 available at December 31, 1976 to complete the project. Sullivan Lake Fund - This fund was established to purchase certain property by Sullivan Lake. As a result of a court decision, the City was required to purchase the property. In addition, the City is making improvements to the property. Financing has been provided by the sale of General Obligation Bonds and a general property tax levy. As of December 31, 1976, $147,142 was avail- able for improvements. Capital Improvement Fund - Proceeds of $587,860 from the sale of Capita?. Improvement Bonds are being accounted for in this fund. These monies are i -o be used to acquire capital outlay items. The fund balance was $435.841 at December 31, 1976. SPECIAI, ASSESSMENT FUND The Permanent Improvement Revolving Account is used to account for special assessments and taxes levied to finance improvements or services deemed to benefit the properties 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. Collection of assessments against benefited property and collection of taxes for the City's share of improvements. 4. Disbursements of assessments and tar collections to the Permanent Improvement Revolving Debt Service Account for payment of bonds and interest. The Permanent Improvement Revolving Debt. Service Account is used to account for the accumulation of resources for payment of the Permanent Improvement Revolving Bonds and interest thereon. III GENERAL DEBT SERVICE FUND Debt service funds are used to account for the accumulation of resources for payment of general obligation bonds and other indebtedness thereon. Municipal Building Bonds of 1959 Account - This account was established to handle debt service for the Municipal Building Bonds issued June 1, 1959. General property taxes provided the money required for payment of bonds and interest. During 1975 the remaining bonds were paid. This fund was closed during 1976 to the General Fund. Park ponds of 1962 Account - Debt retirement (bonds and interest) of general obligation bonds in the amount of $32.5,000 issued February 1, 1962 is being accounted for in this account. General property taxes 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 and transfers from other City funds provided the money required. During 1975 the remaining bonds were paid. This fund was closed during 1976 to the General Fund. 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 and transfers from the Sewer Operating Fund, are being collected to provide the money required. The City of Hilltop has agreed to pay $88,955 as its share of improvement costs wi.t:h the balance of $19,798 to be repaid over the remaining life of the 10011d issue with interest on the unpaid balance. State -aid Bonds of 1969 Account -- Debt service for $100,000 State -aid issued November 1, 1969 is from gasoline tax, street of Minnesota to pay bonds accounted for in this fund. Allocations ar construction and maintenance allotments from ,q Rd interest thereon, respectively. bonds e made m the State City Garage Bonds of .1972 Account - This account was established during 1972 to account for the receipt of revenue, primarily general property taxes and transfers from the public utility funds, used for payment of principal and interest on the $510,000 issue of City Garage Bonds of 1972. Capital Improvement Bonds of 1976 Account - Debt retirement for the $1,020,000 Capital Improvement Bonds issued April 1, 1976 is being accounted for in this fund. General property taxes provide the money required for payment of bonds and interest. LI UOR 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 1976, 1975 and 1974. IV LIQUOR FUND (Continued) 1.976 1975 1974 Percent Percent Percent of sales of sales of sales Sales Off -sale $ 843,027 76.54 $ 863,970 72.31 $ 838,241 74.13 On- -sale 258,407 23.46 330,882 27.69 292,501 25.87 Total sales $1,101,434 100.00 $1,194,852 100.00 $1,130,742 100.00 Cost of sales 747,240 67.84 795,920 66.62 763,469 67.52 Cross profit $ 354,194 32.1.6 $ 398,932 33.38 $ 367,273 32.48 Operating expenses 331,408 30.09 326,280 27.31 295,918 26 .17 Operating profit $ 22,786 2.07 $ 72,652 6.07 $ 71,355 6,31 Other income and expense (net) 5,866 .53 8,017 .67 13,717 1.21 Net income $ 28,652 2.60 80 669 6.74 $ 85,072 7.52 1.976 1975 1974 _ Percent of Percent of Percent of: net income net income net i.ncocle �~ Transfer. to other City funds 85,,()00 296.666 $ _80,00 99.17 Equivalent rni it rate of transfers 1129 Effective February 28, 1977, the City ceased the off-sale operation at Store No. 1. PUBLIC UTILITY FU -.'DS Water and Sewer operating fund - 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 records for the utility systems. During 1965, revenue. bonds in the amount of $260,000 were sold. Revenues of the [dater Utility Operatin.' Fund are pledged for payment of principal and interest on the::.c_i bond.;, $75,000 of the bonds remain to be paid at December 31, 1976. Utility revenue is also pledged to repay a loan of $70,950 to the Storm Sewer :Bonds of 1965 Account, The receivable from the Metropolitan Waste Control Commission represents the City's share of the equity in City and Minneapolis sewer systems which were acquired by the Commission on January 1, 1971, and the balance of the reserve capacity charges which were ads. ?ance�, to the Commission during 1971 and 1972. The reserve capacity charges of $38,097 at- December 31, 1976 will be repaid with Interest directly to the City over the ne?:t twelve years. The remainder will be paid to the City by means of issuing credit: against future sewer billings froat the Commission, Ti;ose credits wi.1l be applied in annual installments, with interest, through 1999. Sewer operating expenses for 1976 include $242,056 in rental charges as compared with $202,223 in 1975. V PUBLIC UTILITY FUNDS (Continued) Water. and Sewer utilities operating funds (Continued) A condensed summary of 1976 utility operations, with budget estimates presented for comparison, is shown below. Revenue Watnr sales Sewer rental Other Total revenue Expenses Source of supply Collection Distribution Disposal Administrative and general Other Total expenses Net incoae Add Adjustment of prior years' expenditures Deduci Gapital outlay expenditures Transfer to Debt S'_rV1Ce funds Capitr,,l Project Funds Permanent Improvement Revolving Fund Additional sewer charge Total deductions Increase in mound balance Water Budget Actual_ estimates $ 522,457 $ 430,000 65, 896 _ 54 , 600 588 35- $ 484,600 $ 241,947 132,504 21,166 6,279 3015896 � 186,457 fi 1,100. $ 27,562 t; 0, 000 3,892 71 451+ S 116.103 $ 220,000 129,855 20,360 � 370,215 $ 114,385 $ 11,1.00 58,000 $ 69,100 $ 45,285 Sewer Budget Actual estimates $ 454,728 32,957 $ 487,685 $ 118,578 242,056 28,511 982540 $ 11,453 30,000 1,609 33,618 761680 $ 367,000 8,300 $ 375,300 $ 122,130 182,000 16,920 $ 321,050 54,250 $ 8,200 35,000 $ 43,200 S 1 '1.0 ESCROW FUND The Escrow Fund is used to record the receipt of monies to be held as performance bonds or for other purposes. These escrow deposits will be refunded co the respective depositors when the conditiocls set forth by the City are satisfied. VI GEORGE- M. HANSEN COMPANY Certifi�.J Pr blic Accountants SOUT2i PLAZA BUILDING MINNEAPOLIS, MINNESOTA 55416 Th C,4,:,7 Council o" Columbia Heights Columbizi lif-ights, Minnesota We. have, examined the accompanyic,,g financial statements of the various funds and the ger).c.r.31 long-term, debt grouip of accounts of the City of Columbia Heights f-�,r the year ended December 31, 1976, on pages 2 through 39 Our e-aml.n-atinn was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedur�.s as we considered naces,,;acy in the circumstance:::. The City has not maintained a record of its general fixed assets or Wate.­ any, Sec,ler Funds property and equipment and accordingly, these items are not included in the financial report as required by generally accepted .:accounting; pr11r.ci-.)!,-4;. No depreciation has been recorded on the (dater and Sc—o-e-, F?.i.nd's pru arty and equipment. The amount by which the finaticJ<il s tat -fileni- C; would Chang( if these items were included, cannot be determined. In our opinion the accompanying financial statements, other t.-han the item, referred to in the preceding paragraph, present the financial position of the various fun l+­. and the general long - term debL group of _;"'counts Of the City of Cal'uiql;ia Heights at December 31, 1976, and thi-_- results Of opernLioi).s, of such funds for the year then ended, in confoi:aAty with generally oc.ceptl,d accounting principles applied on a basis consistent wits: tliiit of the pre(-(.,dirq-, year, The ;,cc :cLrpanying supplemental schedules and related 1r.-foraiat-7-on prese.l.-Ited, or). pages 44 to 52 are not necessary for a fair of the financial stnt_rht�lents, but are presented as additional data. information has 1)•�on subjected to the tests and other auditing pvocodurec -ppliod in the examination of the financial statements mentioned above '!ad, in our opinion, is fairly -_,tated in all uiaterial respects in relation to Lke financial state- ments taken as a whole. 2 '7, � 1-e March 15, 1977 F CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND BALANCE SHEET - DECEMBER 31, 1976 ASSETS Case $ 21,482 Petty ca-h. and change funds 775 Invest:::cnt:, at cost I�ccount:.s receivable D'el."o,quent taxes receivable Allowance for delinquent taxes Total assets IABILITHS, RESERVE AND FUND BALANCE Liabilities Accounts payable ?Deferred revenue Reserve for encumbrrin.ces Fund balance - IJiiaC)n7i!prlaced '?'otal liabi.lit_.i.es, reserve-- and fund balance ST.IVI'e'MEit" OF CIU�'NGES IN FUi7I) BALANCE -- YEAR ENDED DECEMBER 31.1 1976 Fund balance, Janui?.: --y 1, 1976 Add - Rev,.'jnue Deduct - Ixperid.i_tures Fund balance, December 31, 1976 See accomp<lnying notes to financial statements, Budget estiiaatn $ 292,898 2,330,070 ,3.291?6' $ 22,257 561.,51.3 53,2.16 57 , 924 ( 57,924) $_ 6 6-, 91 $ 34,362 3,875 7,355 591,399 Actual $ 292,898 2,512,100 (2,213,599) _ 293_ F.11-j_591,39a t 1 1 1 1 1 1 CITY OF COLUMBTA BETGHTS, MINNESOTA CKNERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED [,1ITH BUDGET F.STIMA`.CFS YEARS ENDLD ECEMBER 31, 1976 AND 1975 _ 1976 Geu�_ral property taxes Ta -es State property tax relief fund Homestead tax aid Pe-ia]_ties and interest on taxes ! ?'orfeited tax sale Licenses and permits I'usine'ss Nonbusiness Fines and forfeitures Court. fines Other Revenue from, use of. money sand -:roperty Reven.-u:� from other agencies Loc LA. government. ,id Att.ac'::ed machinery aid Anoka County sham of ;_osts SCre,�t ...3i.ri.tenanct: Si.Ivi •7 r beach State ar -d ._deral crr-ants C.:arlefcs for current service- r�eneral government r n i- a n 17U Sale: or ::Gi r';i...,;atlt :; for of property Bu�;c"t $1,009,270 ].,5110 $ 14,335 _ _i 8 , 100 - -= ',535 0,000 ]400 $ 21,400 854 695 5,095 ,OGO Actual $ 751,606 258,291 $1,009,897 3,630 $ 21,043 41,036 $ 62,079 $ 4.5,731 1,365 47� 096 2/, 3 $ 854,695 5,096 6,020 ,000 Over ('Under) Bq.d e t 2,130 880 $ 3,6V 6, 7 Ui` 2% 836 9 5,44 4 $ , 73' 5,16 $ 7 4 867 3':.J y`,-Y— 811 $` -_ 1 $ 1,3C'- $ 2,865 4 1 65 18,' >9i 1,637 3,'00 s6 1,746 2,070 2,]:., 66 14,6.0 1 :�,f�.3 3,143 1177 _.3,723) f2 $ _�248 000 $ 250, 008 5 ^ 21008 See accompanpi. ,; noL:2s to financ:;.al statE:a,: 9�.5c�1 {_......_?9501 3 1.975 Act-al $ 894,200 308,905 -.1- : 20..-t, ] 05 2 ., _!'O $ 1.7 ,':.:71 - 2 9156 S - 7 807 6 .0 � c,-7 —�- t 76 6; 04 9 6,672 $_I 4 9X53 $ _ 36 , 883 4 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF REVENUE - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEARS ENDED DECEMBER 31, 1976 AND 1975 Refunds and reimbursements Salaries Insurance Rentals Other Other revenue Adjust prior year's payabl.es/ receivables Transfers from other funds Liquor Operating Fund General Debt Service Fund Municipal Building Account 1964 Storm Sewer Account City Garage Fund 1976 Over (Under) 1975 Buffet Actual Budc;et victual 5,000 $ 5,308 $ 308 $ 9,772 200 6,398 6,198 228 5,000 22,823 17,823 15,924 500 1,938 1,438 — 77 _ $ 10,700 $ 361467 $ 25,767 $ 26,601 $ 2,275 $ 2,138 $( 137) $ 2 25 =4 1'x.80 � 1 480 $ 85,000 $ 85,000 $ ?0,00'.3 2,206 $ 2,4206 8,440 8,440 :$ 85,000 Total revenue $2.330,070 $ 2,512,100 _82_,0':_) ? 177.71G See accompanying notes to financial statements. 5 .CITY GENERAL FUND 1976 YEARS ENDED DECEMBER 31, 1.976 AND 1975 J General Government Mayor and Council Personal services $ 34,475 Other services and charges 29,600 Supplies 500 Refunds 500 City Manager Personal services $ 51,080 Other services and charges 4�700 Supplies Election and Voters Registration Personal services 8 8,080 Other services and charges Supplies 1158O Finance-Clerk Personal services Other services and obuzgeo Supplies Capital outlay Assessing PezuoouI services other services and charges SuP�l1ea Capital outlay Io6epemjeot Accounting and An(Iitiug Jezz-,l g�b�r services and charges Over (Under) J-975 Aotuul B ud�et Actual _______ A 30,090 $( 4,38--) $ 251349 24,062 ( 5,538) 19,�06 187 ( 313) 75 ) ) 8 44,930 $ 44,205 $( 6`775) $ 36,928 4P320 ( 380) 2�543 212 16? ) 5 � $ 7,208 792) j,1_33 895 '6y5 l 16 , _"J866 $ 55,630 $ 49,882 5,748) 12,065 13,996 l,93l ll,270 1,225 1'277 730 331 6�l $ 38^270 $ 33,670 4^600) 1,720 1,947 227 1`300 92 ( 1,208) 7/ 600 676 76 . ) 8 2 } See accompanying notes to financial statements. 6 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED YEARS ENDED DECEMBER 31,__-19"6 AND 1.975 1976 General Government Buildings Personal services $ 6,055 $ 6,155 $ 100 Other services and charges 29,450 30,029 579 Supplies 5,900 6,365 465 Capital outlay Total general government Pui, -".ic Safety Police Protection Personal services Other services and charges Supplies Capital outlay Fire Protection Personal services Other services and charges Supplies Protective Inspection F<<r.sonal services Other services and charges Supplies Capital outlay Animal Control Total public safety I _ $ 365,800 $ 425,995 28,585 19,750 $474,330 e $ 217,725 8,880 2,895 $ _229,:00 $ 40,650 13,315 1,300 50 $ 55,315 $ 9,635 768,780 See accompanying notes to financial statements. 331.,259 $ 424,913 23,993 20,727 $ 469,633 $ 216,626 7,844 _ 2,737 $ %27,207 $ 42,179 11,997 592 55 $ 54,823 $ 8,732 $ 760 ,395 $( 34,541) $t: 1,082) 4,592) 977 $( 4,697) $( 1,099) ( 1,036) ( 158) 2,293) $ 1,529 ( 1,318) ( 708) 5 492) $( 903) $( 8,385) 1975 Actual $ 232 $ 15,4].6 2,519 1,081 395 19P411 $ 1,024 23,804 4,098 785 29 71.1 �S �L77,(16 $ 424,602 2.8,187 18,801 1,146 $ 472,736 $ 202,991 10,817 1,756 $ 215,564 $ 39,659 8,988 593 447 49,687 $ 6,560 _ 744, 54 7 Over (Under) Budget Actual Bu_ dget General Government (continued) Human Rights Commission $ 600 $ 62.5 $ 25 P1.- nni.ng Personal services $ 1.4,005 $ 13,146 $( 859) Other services and charges 11,320 6,318 ( 5,002) Supplies 1,225 1,095 ( 130) Capital outlay 300 518 218 _ 26,850 2 -L, 7 _ $( 5,773) General Government Buildings Personal services $ 6,055 $ 6,155 $ 100 Other services and charges 29,450 30,029 579 Supplies 5,900 6,365 465 Capital outlay Total general government Pui, -".ic Safety Police Protection Personal services Other services and charges Supplies Capital outlay Fire Protection Personal services Other services and charges Supplies Protective Inspection F<<r.sonal services Other services and charges Supplies Capital outlay Animal Control Total public safety I _ $ 365,800 $ 425,995 28,585 19,750 $474,330 e $ 217,725 8,880 2,895 $ _229,:00 $ 40,650 13,315 1,300 50 $ 55,315 $ 9,635 768,780 See accompanying notes to financial statements. 331.,259 $ 424,913 23,993 20,727 $ 469,633 $ 216,626 7,844 _ 2,737 $ %27,207 $ 42,179 11,997 592 55 $ 54,823 $ 8,732 $ 760 ,395 $( 34,541) $t: 1,082) 4,592) 977 $( 4,697) $( 1,099) ( 1,036) ( 158) 2,293) $ 1,529 ( 1,318) ( 708) 5 492) $( 903) $( 8,385) 1975 Actual $ 232 $ 15,4].6 2,519 1,081 395 19P411 $ 1,024 23,804 4,098 785 29 71.1 �S �L77,(16 $ 424,602 2.8,187 18,801 1,146 $ 472,736 $ 202,991 10,817 1,756 $ 215,564 $ 39,659 8,988 593 447 49,687 $ 6,560 _ 744, 54 7 1 1 7 CITY OF COLUMBIA HEIGIVES, lyl:LNNE.SOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTI;"JATES (CONTINUED) YEARS ENDED DECEMBER 31, 1976 AND 1975 Street and Alley �'ersonal services 1976 _ $ 1671,094 $( 8,186) Over 7-3;;j4:` Other services and charges (Under) 1975 9,766 Budget Actual Budget Actual Highways 41,300 Engineering 1,086 Personal services $ 82,420 $ 81,176 $( 1,244) Other services and charges 3,215 2,277 ( 938) Supplies 2,030 1,885 ( 145) ,0 Capital outlay S(_ 13 `9z:-')-- -` -`'- , 2,3.. $ 87,665 - $ ___8.5, 3 38 $(` 2,327) $ �85�35 ". Street and Alley �'ersonal services $ 175,280 $ 1671,094 $( 8,186) $ 7-3;;j4:` Other services and charges 16,650 9,766 ( 6,884) Supplies 41,300 42,386 1,086 Capital outlay $ 233,230 $ 219,246 S(_ 13 `9z:-')-- -` -`'- , Traffic Signs, Signals and Markings Personal services $ 15,000 $ 1.4,188 Other services and charges 11,750 8,156 ( 3,594) Supplies 4,500 5,716 1,216 9 ,1�'; Capital outlay _ 31,2.50 $ 28060_ (_. ��19(b Street Lighting Personal services $ 1,100 $ 1,134 $ 3' Other services and charges 43,450 37,7.48 �_ 5,6`>2) _ 40,7-!7 $ 44,550 $ 38,392 ( S '.'I Parking Meters Personal services $ 400 $ 3 ?0 $( 10) $ 86% Other services and charges 280 280 81: Supplies 200 Il ( 1.89) Capital outlay $ 880 $ 681 Tree Trimming and Removal Persona]. services $ 32 , 700 $ 39 449 � � T 6,749 'T '? 12n , _ ., Other services and charges 32,050 27,199 ( 4,851 1_,{ ! Supplies 200 480 2.80 =�!; Capital outlay 2,200 1,712 -..� __ -`) % _I:QiL -'_ 67,150 $ 68,840' =''� _' J?177') Total highways $ 464,725 $ 441,057 See accompanying notes to financial statements. CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES. (CONTINUED) YEARS ENDED DECEMBER 31, 1.976 AND 1975 y Sanitation and Waste Removal Refuse Collection and Disposal Personal services Other services and charges Supplies Weed Control Personal services Other services and charges Total. sanitation and waste recnova.l Library Per:;C,nal services Other services and charges Su '.Thies CaP ;t 11 outlay Total library Park Department Parks Personal services Other services and charges Supplies Capital outlay Refunds Merchandise for resale Wading Pools Personal services Other services and charges Supplies 1976 Over (Under) 1975 Budget Actual. Budget Actual $ 5,500 $ 8,102 $ 2,602 $ 5,202 218,100 217,728 ( 372) 23,654 217,998 .400 6 22,023 394) 25 $ 224,000 $ 225,836 _� $ __7.,836 $ L- $ _ 223,225 147,851 $ 600 $ 600 $ 600 700 619 $( 81) 1,036 744 $ 1,300 $ 1,219 $( -- 31) _ 1,344 $_ 2.25,300 $ 2272055 $ 60,860 15,375 23,250 $ 99,485 $ 152,305 54,220 5,150 50 4.000 $ 215,725 $ 1,200 tE500 �. 7 0r3 See accompanying notes to financial statements. $ _ 1,755 fi -- 224,569 $ 62,233 $ 1,373 $ 55,931 1.3,507 ( 1,868) 11,329 23,654 404 22,023 58,568 $ 99,394 $ L- 91) $ 147,851 $ 153,341 $ 1,036 $ 1.48,688 53,546 ( 674) 45,390 1 5,392 242 5,423 9, 933 ( 50) 25 2'320 1,680) 1,725 $. 21.42599 $.( 1,126) $ __?11.,184 $ 499 $( 701) $ 659 219 219 _ 1,261 (_ 239) 1,076 $ 1,979 $( 72.1) Vii_ 1, 7_35 9 CITY OF COLUMBIA HEIG1TS, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES - ACTUAL COMPARED WITH BUDGET ESTIMATES (CONTINUED) YEARS ENDED DECEMBER 31, 1976 AND 1975 Unallocated General Expense Insurance and bonds $ 52,000 1976 $( 40) $ :30,,91;. Transfers to other funds Over Recreation Fund 51,450 51,450 (Under) 8;,(,(i8 1975 Permanent Improvement Budget Actual Budget Actual Park Department (Continued) 811 811 Skating Rinks 57,500 _ 8,426 ( 49,074) 2 6, , Personal services $ 15,000 $ 14,975 Y( 25) $ 12,866 Other services and charges 9,900 10,239 339 48,303) 7,772 Supplies _400 �_ tE(t0) L2,329,365 224 $( 1J.5 766) $ 25,300 _ $ 25,2.14 $( 86) S 20. 2 Mini Park Other services and charges �_ 600 _600) � 544 Total park department $ 244,325 241,792 $( 2,533) $ 234i'% Unallocated General Expense Insurance and bonds $ 52,000 $ 51,960 $( 40) $ :30,,91;. Transfers to other funds Recreation Fund 51,450 51,450 8;,(,(i8 Permanent Improvement Revolving Fund 811 811 Other 57,500 _ 8,426 ( 49,074) 2 6, , Total unallocated general �=.xpense 160 950 �� 112,647 48,303) Total expenditures L2,329,365 �=2,UL5 $( 1J.5 766) S2 ,_155 ;7:':< See accompanying notes to financial statements. 10 A-3, Ceslt (de.F_-ioit) p*�:Iy Iove��ut er: t:u &couuute reroivuhIe DeIingnunt txxcz rece�va6le Al oce -for �el��gceu� taxes T:t:u} anyeta CITY OF COLUMBIA HEIGHTS, MINNESOTA SPECIAL REVENUE FUNDS BALANCE SHEETS - DECEMBER 31` 1976 Civil State-Aid Revenue Recreation Defense Maintenance CEIA Sharing Combined Food Fund Fnod FmzJ Fund � 61,292 $ 2,273 $ 13,219 $ 48,526 $( 8,834) $ 6,108 50 50 payable $ 2,862 $ 34 $ 82 ¢ 2,858 $ 688 150,000 127,537 158,000 49,894 1`510 10,892 37,492 658 27`422 658 4,000 23,422 Fnncl buIance - ( 658) Enuyproprloted 103/4I.5 2 289 10.647 48 26 ' payable $ 2,862 $ 34 $ 82 ¢ 2,858 $ 688 CnnLzac�� payable 127,537 127,537 Deuecrc for rocsoSoruocey 27`422 4,000 23,422 Fnncl buIance - Enuyproprloted 103/4I.5 2 289 10.647 48 26 �otul Ila6ilitieo, reserve and fund �6�louca _36 23 14,729 48,526 _ 3ee aocmayauyinX ootcs Lo financial otatiemcnts. CITY OF COUT'IMBIA S MTITLNESOTA RECREATION ND STATEMENT OF REV MDNDZIlBES AND FUND BAIA0CD YEARS ENDED DECEMBER 31, 1976 AND 1975 1976 Over (Under) Dod (-,cL AoLoal Budget I 1975 Actual Re. veoue $ I01`095 $ 92,495 Contribution from Independent $ 89,212 ULI­zer services and charges 8,170 School District No. 13 $ 59,250 8 51,250 $( 8,000) �X,�!() T�auafez from General. Fund 59,250 5I,450 ( 7,800) �8, S Fees 6J600 7'068 __—_ �68 Total ronenoe $ 125 �768 ( ) Expenditures Personal. services $ I01`095 $ 92,495 8,6("0) $ 89,212 ULI­zer services and charges 8,170 7,85' 4 ( 316) Supplies 2,500 2,4I0 ( 90) Capital nx,Iey 500 479 ( 21) 2,02� 0Lber expense PIa7gz0006 uod rccreucian pru&zuma 2,000 i,722 ( 277) 1.'542 Athletic supplies 2,700 2'453 ( 247) 2,G66 Traveling teams 5,200 5^14,8 ! 52� 108,� Deoob program 6 580 ) 7'l66 Total expenditures $ 1.28,665 8 3.182341 ) Revenue over (under) ezpeodituren $( 3,565) ¢( 8,573) 3,427 Fund balance, Beginning of year 10 862 l0'862 7.435 Fund balance, Du'] of 7ear '2 See accompanying notes to financial statements. 12 CITY OF COLUMBIA HEIGHTS, MINNESOTA CIVIL DEFENSE FUND STATEMFNT OF REVENUE, EXPENDITURES AND FUND BALANCE YEARS ENDED DECE1,93ER 31, 1976 AND 1975 Expenditures Personal services $ 1_4,645 1976 $( 1,490) $ 1.1,094 Other services and cha._ges 7,765 Over { 1,048) 7,090 Supplies (Under) 1975 ( Budget Actual _Bud >et Actual Revenue 377 4,351 Total expenditures General property taxes $ 25, 01 $ 14,923 4,959) $ 2-3 09 State property tax relief_ fund Revenue over (under) exper.Jitures $( 4,860) $ 1,611 _ Homestead tax aid $( 10,768) 5,086 9,036 _ _ $ 20,240 $ 20,009 $( 231) $ 4,122 Interest earned 200 436 236 1,200 Federal aid 5,535 7,065 1,530 7,319 Miscellaneous 25 2_ ?3) Total revenue $ 26,000 27,512 $ _ 1,512 $ 12,641 Expenditures Personal services $ 1_4,645 $ 13,155 $( 1,490) $ 1.1,094 Other services and cha._ges 7,765 6,717 { 1,048) 7,090 Supplies 3,750 952 ( 2,798) 874 Capital outlay 42700 y 5,077 377 4,351 Total expenditures $ 30,860 $ 25, 01 $l 4,959) $ 2-3 09 Revenue over (under) exper.Jitures $( 4,860) $ 1,611 _ 6,471 $( 10,768) Fund balance, Beginning of year 9,036 9,036 19,804 Fund balance, F,nd of year x4,176 10.6�_,03b S• -e .iccOnpanyi.n- notes to financ al statements. CITY OF COLUMBIA HEIGHTS, MINNESOTA STATE -AID MAINTENANCE FUND STATEMENT OF REV�;NUE, EXPENDITURES AND FUND BALANCE YEARS .ENDED DECEMBER 31.,__1.176 AND 1975 Revenue 1976 Actual $ 12,405 2,149 $ 14,554 $ 1.71 (�;-43 $ 21.4 $ 14,340 34,186 $ G8,526 Over (I ,der. ) Budget $( 1.,595) _ 2., 1.49 $ $( 5,8" ?) ( 6,457) 13,236) .$- —13 —.8 4 -Q CETA FUND S i'A7'EMENT OF RE- VENUE,- 1- -XP.s2qDITURES AND FUND BALANCE YEARS ENDED DECFJIBER 31, 1976 AND 1975 Federal grants $ -0- Expenditures Personal services Other charges Total expendi-tures $ -0- Revenue over (under) expenditures $ -0- Fond bat;;nce, Beginning of year -0- Fund balance, End of year See accompanying notes to financial stat:cinents, 13 1975 Actual $ 1-2,640 _ ?-,-3.3 5 y$ 975 $ 2 7 7 121 206 , 121 - 906 $ !.5 :•�.0 �� _ $ 120,109 _1097 $ 1.20,109 _____1,097 321 2-0-6- _ - 0- I;'4. Z, 6 6 f5 0- Budget Revenue Shared state gasoline tax $ 14,000 Interest on investments Total revenue $ 14,000 Expenditures Personal services $ 6,000 Other services and charges 6,500 Supplies 1,000 Total expenditures $ 13,500 Revenue over (under.) expenditures $ 500 Fund balance, Beginning of year _ - 34,186 Fund balance, End of year S 34,686 Revenue 1976 Actual $ 12,405 2,149 $ 14,554 $ 1.71 (�;-43 $ 21.4 $ 14,340 34,186 $ G8,526 Over (I ,der. ) Budget $( 1.,595) _ 2., 1.49 $ $( 5,8" ?) ( 6,457) 13,236) .$- —13 —.8 4 -Q CETA FUND S i'A7'EMENT OF RE- VENUE,- 1- -XP.s2qDITURES AND FUND BALANCE YEARS ENDED DECFJIBER 31, 1976 AND 1975 Federal grants $ -0- Expenditures Personal services Other charges Total expendi-tures $ -0- Revenue over (under) expenditures $ -0- Fond bat;;nce, Beginning of year -0- Fund balance, End of year See accompanying notes to financial stat:cinents, 13 1975 Actual $ 1-2,640 _ ?-,-3.3 5 y$ 975 $ 2 7 7 121 206 , 121 - 906 $ !.5 :•�.0 �� _ $ 120,109 _1097 $ 1.20,109 _____1,097 321 2-0-6- _ - 0- I;'4. Z, 6 6 f5 0- 14 CITY OF COLUMBIA HEIGHTS MINNESOTA ANTI-RECESSION AID FUND STATEMENT OF REVENUE EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1976 1976 Over (Under) Budget Actual Budget Revenue Federal grant $ -0- $ 17,730 $ 17,730 13jlzendittjres r Personal services $ -0- $ 17,730 $ 17,730 Revenue over (under) expenditures $ -0- $ -0- $ -0- Fund balance, Beginning of year -0- -0- :Fund balance, End of year $ -0- - REVENUE; SH_ARTNG FUND STATEMENT OF REarE`i(?E, EXPEND_ ITURFS AND FUND BALANCE — YEARS 1- .ND].D DECEMBER 31, 1976 AND 1975 1976 = Over (Under) 1975 Budget Actual Budget ' Actual Reve�:;ue U.S. Government - Revenue Sharing grant $ 166,000 $ 157,339 $( 8,661) $ 154,036 ' Interest on investments 5,000 .1907 5,907 11,530 $ 171,0001_( i246 $ 165,566 Ewpenditures Operating main.r.eitance $ 3,000 $ 1,309 $( 1,691) $ 9,580 Professional services - Downtown Development 6,000 6,000 Personal services safety 4 5, 000 40,746 ( 4,254) Capital outlay 148.080 163,013 14,133 207,388 0 r1:er 58,920 1.5,624 ( 4. ".2.36) $ 261L00 $ 226,692 $(_.34,308) $ _ 21 X968 r.. venue over (under) expenditures $( 50,000) $( :3,446) Sf 31.554) =— $( 51,402) Fund balance, Be;i.nni_ng of year A 0 39'; 100,399 1`>1..8)1 Fund balance End of year _ `1: },.s-9 See 3ccumpanyi.ng notes to financial staCeme.r;t-s, CITY OF COLUMBIA HEIGHTS, MINNESOTA INVESTMENT TRUST FUND BALANCE' SHEET 4 DECEMBER 31, 1976 ASSETS Cash (deficit) $( 18,578) Accrued interest receivable 18,578 1UND BALANCE Fund balance STATEDIENT OF REVENUE, FIXPENDITUPJsS AND ' FON 'T BAI c E I,,AR ENDED DE—C 1BER 3 1. 197 � Revenue Interest earnings Expenditures Distribution of interest earnings $ 121- 051 Revenue over (under) expenditures Fund balance, January 1, 1976 Fund balance, Deccwiber 31, 1976 See acco-mponying notes to financial statements. 16 CITY OF COLUMBIA HEIGHTS, MINNESOTA CAPITAL PROJECT FUNDS BALANCE SEEETS DECEMBER 31, 1976 ASSETS Cash (deficit) Investments Due from other governmental units State of Minnesota U.S. Department of Housing and Urban Development - Grant Delinquent taxes receivable Allowance for delinquent taxes Total assets LIABILITIES AND FUND BALANCE Liau.lit:l <'.5 Acccurit-s payable Coiitracts payable Fund balance - Unappropriated Total liabilities and fund balance See accompanying notes to financial. statements. Combined $ 22,795 575,000 70,607 27,430 1,558 ( 1,558) $ 695 .83z $ 3,6'0 22,730 669 5402 5 69.5 832 State -aid •' Construction Fund $( 5]1) 70,607 ' $ 70,096 $ 2.2,780 47,316 ' r 70 ,096 j_,t (fie!!e Central Avenue Park Sullivan Capital Urbanization Improvement Lake Improvement Fund Fund Fund Fund $ 5,554 $ 9,769 $ 2,142 $ 5,841 145,000 430,000 27,430 1,558 ( 1,558) ti 5.554 ,_ 37.1.99 S 147,142 L_431.. $ 3,650 $ 5,554 33,549 $ 147,142 $_4352841 5.554 S_ ; - 199 $ 147,142 17 18 CITY OF COLUMBIA HEIGHTS, MINNESOTA CAPITAL PROJECT FUNDS STATEMENTS OF REVENUE, EXPENDITURES, AND FUND BALANCE YEAR ENDED DECEMBER 31, 1976 Revenue General property taxes State property tax relief fund Homestead tax aid Stared State gasoline tax Sale of bonds Interest earrtr -A Transfers from other city funds Water Operating Fund Permanent Improvement Revolving Fund xotn revenue Expenditures Improvement costs Capital o;_alay Total e5,:penditures Revenue over (under) expenditures Fu.. -i balance (deficit), January 1, 1976 Fund 1)alance, Docember 31, 1976 See accompanying; notes to Financial statements, $ 335,834 $ 277,590 180,429 $ 516,263 $ 277 _, 590 $ 755,10; $(162,921) (85,7(2) 210,237 669.402 $ 47,31.6 State -aid Construction Combined Fund $ 72,760 25,682 $, 98,442 110,669 $ 110,669 1,012,860 38,544 4,000 3,892 6,960 $1 271,367 $ 114,669 $ 335,834 $ 277,590 180,429 $ 516,263 $ 277 _, 590 $ 755,10; $(162,921) (85,7(2) 210,237 669.402 $ 47,31.6 ^ Central &noone Uzbaoioaclun $ 1,818 w� $ ( 1,818) Water Park Sullivan Capital Maio mprnvemen Improvement Lake Improvement mpzovemeo Fund Fund Fund Fond $ 72,760 25,H2 425,800 $ 587,860 6,134 28,410 $ 3,892 6 960 $ 11,097 $ 4`840 $ 40,489 - $( 245) $( 4,840) $ 489,087 $ 435,841 2/O 38�389 ) -0- 19 20 CITY OF COLUI�.BIA HEIGHTS, MINNESOTA SPECIAL ASSESSMENT FUND BALANCE SHEET - DECEIGER 31, 1976 ASSETS Cash (deficit) Cash with paying agents Inve:,i-[ ents I)j..,_: from Water. Operating Fund Special assessments receivable Delinquent (principal and interest) Deferred (principal) Unassessed costs to rm sewer r then Total assets �i_JABILI?'.C>' S AND FUND BA1IINCE I ,_i - abiIit. ies Combined $ 1,026 56,033 7,000 49,980 104,017 388,565 Permanent Permanent Improvement Improvement Revolving Revolving Debt Service Account Account $(123,455) 104,017 388,565 84,726 84,726 39,563 .$- 7.3, 0 , � $ 493,416 Accounts payable $ 420 Contract payable 500 De- ei:red revenuei -I•r4"7 �dso�e a >wa44 "-� -u�� Lo 1 980 Deposits 1.4,636 Matured bonds and interest 56,033 Special assessment: bonds payable 465,000 tend balance Unappropriated 192,341 Total liabilities and fund balance $ 730,_91.0 See accompanying notes to fin.anci.al. statements. $ 420 500 14,636 $ 124,481 56,033 7,000 49,980 2370494 $ 1,980 56,033 465_,000 4777.860 285 519; 493 4I6 CITY OF COLUMBIA HEIGHTS. MINNESOTA SPECIAL ASSESSMENT FUND STATEMENT OF REVENUE., EYP17,NDITU1'ES�AND FUND BALANCE YEAR ENDED DECEMBER 31. 7.976 u Revenues Interest on assessments Interest and penalties Transfer from Permanent: Improvement Revolving Account Interest on investments Administrative fees Increase in assessments Assessments in excess of costs Total revenue Expenditures Cancellation of assessments Interest Other charges Transfer to Permanent Improvement ,,PvOLvi.rLg ;l-ebt Servi.c.e Account Tot�iJ. expenditures Revenues c�.7er (under) expenditures Fund balance, January 1, 1976 Fit nd balance, December. 31, 1976 See accompanying notE.s :.o '=:nanci_al statements. Permanent Improvement Revolving Combined Account $ :3,651 $ 23,651 21 Permanent Improvement Revolving Debt Service Account — 7,883 7,883 116,000 8 116,000 10,876 10,876 28,940 28,940 :,5,378 35,378 311 7,371 8 230,099 _ _ $ 1.03,223 $ _'.c,_;6 $ 1,142 $ 7,142 26,677 $ 2 t :77 17,525 17,361 184 171.0 x`100 116 , 000 _I_67,'3 4 S_140,/483 $ 26,86 $ 62,755 $( 37,260) $ 1.00,015 129,586 515,120 _(3852534) $ 192,3L! � __t= L7_,.8 6 0 z ) 22 CITY OF COLUMBIA HEIGHTS, MINNESOTA GENERAL DEBT SERVICE FUND BALANCE SHEETS - DECEMBER 31. 1976 ASSETS Cash Cash with paying agent Invcstments Due from Water Operating Fund Due from other governmental units Delinquent taxes receivable Allowance for delinquent taxes Total assets LIABILITY AND FUND BALANCE Liability - Matured bonds and interest Fond balance - Appropriated for payment. of bonds and interest Total liability and fund balance See accompanying notes to financial statements. Combined $ 54,014. 131,425 345,000 70,950 41,178 1.0,466 10,466) S---L)/4 .2667 $ 7..31,42.5 51.1 142 23 Storm State City capital. Paris Sewer Aid Garage- Ivioprovcn I e1-1 Bonds Bonds Bonds Bonds bends of 1962 of 1965 of 1.969 of 1972 of 1976 Account Account Account Account :,.count $ 33,871 $ 7,4!,0 $ 1_0,717 $ 882 $ 1,104 68 53,0;3 57,215 2. �.,0 t4 50,000 a4a•'� ; 0,C, 0 225,000 70,950 19,798�'��t °'° 21,380,' 1,906 2,065 1,7'5 4,700 1,906) 3� 939 20 7,097 ._28,!i� o 8 68 $ 53,078 $ 57,215 33,871 148,188 $ 32,097 70,882 ,2 101 — 9 $ 207. 2.6� $� 32-4-0-1 S 122_ '117 24 CITY OF COLUMBIA HEIGHTS MINNESOTA GENERAL DEBT SERVICE FUND STATEMENTS OF REVENUES EXPENDITURES AND FUND BALANCE YEAR ENDED DEGEMBER 31. 1976 Revenue General property taxes (State property tax relief fund 'Homestead tax aid Interest Transfers from other funds Sewer Operating Fund Water Operating Fund Total revenue Expenditures Bond maturities Interest on bonds Fi.seal agents' servi r_:e charges Transfer to General Fund Total e-�;penditures Revenue over (under) expenditures F tnd balanec, .January 1, 1976 Fund balance, December 31, 1976 See accompanying notes to finaaci.a.i. statements. Combined $ 295,888 " 1,381 $ 297,269 23,213 30,000 15,000 $ 365,482 $ 125,000 61,174 31.7 10,646 $ 197,137 $ 168,345 342,797 Municipal Building Bo.,.ds of 1.959 Account $ 97 $ 97 $ _ 97 2 206 $ 2 2 $( 2,109) 2,109 $ S 11x142_ Park Bonds of 1962 Account $ 24,867 .115 $ 24,982 980 ,2 962 $ 25,000 ' 3,375 39 _ 28,414 $� 2,452) ' _ 6 2323 1 1 I 23s c2 <) z q6) ' �3 Sil� Storm Storm State City C pi.tal Sewer Sewer Aid Garage Ivnpcovement Bonds Bond Bonds Bonds Ponds of 1964 of 1965 of 1969 of 1:72 of 1976 Account Account Account Accour t Account $ 189 $ 20,885 $ 14,400 $ 235,450 -- 95 Vii.`.: 1,i 6 $ 189 $ 20,980 $ _ 14,46 " $ _ 236,55t; 9,934 S 24 6, ?5 5,7' > >) 15,000 15,000 $ 189 8 � ' 914 24 $ 50 99:) $ 21;2 '',06 4.0.000 $ 10,000 $ 50,000 JS,G'S 1,595 '4,!13{' r 16,14) �8 26 i1.1 53 OY_ $( 8,2 5.� ?( $( ].1,597) $( 13,551.) $ 22G,10/� 8,251 19) _6i 98 4J,694 84,u3'? 25 CITY OF COLUMBIA I1EIGlfiS, MLNrIESOTA LIQUOR HUN'.) BALANCE SHEET - DECEMBER 31, 1976 AND 1915 ASSETS Current assets Ca s11 Petty cash and change funds Investments at cost Accounts receivable Inventories, at cost -Total current assets Lon g -tcLm receivable - less current portion above Property and equipment, at cost Land and improvements Buildings and improvements Furniture and equipment Total cost Less accumulated depreciation Total fi_�ed assets (net) Total assets 1.976 $ 16,227 10.100 $ 26,327 9,907 138,895 $ 175,129 19713 $ 5,537 _ 7,'rii(J $ 1.2-,937 105,000 2,556 126_,L61 $ 247. $ 3,143 $ 35,069 1-90,081 1;17_,10{ $ 33", '58 1.6 3 313 $ 1.692 ;Z0 7 4'2 LIABILITY ^ ID RET: -1N1hD EAR)` liNGS Current liability Accounts payable Rei.si.ned e.-3r.nings Invested in property and equipment capital Total retained earnings Total livability and retained earnings See accor::panying notes to financial statements. r 35,069 h �j,J t, ; L_2-7 _, 6 5' 9 19' $ 169,220 150.67.3 `= :319, 833 347.492 $ 17`),I-9 201..042. $ 3761.: !_ G2730� 26 27 CITY OF COLUMBIA HEIGHTS MINNESOTA LIQUOR FIJi�TD STATEMENT OF 0P_ERA7'ING INCOICG FOR INDIVIDUAL STORES YEARS ENDED DKETIBER 31, 1976 AND 1975 Sales Cost of sales Gross profit Percent of sales Operating expenses Percent of sales Opc.ratin.g prc.fi-t (loss) Percent of s -iles ;!tl:_r income less expense Percent of sales Net income Percent of sales STATEME f OF "."flA `GIES IN RETATNED EARNINGS ' YEAil hl" DED DECEiiBEP._ 31, 1976 r Retained earnings, January 1, 1976 $ 37fs,181 Addition - Net- incom;: 28,652 Deduct -- Transfer to General Fund Retained earnings, December 31, 1976 ,� _3'' -833 1 See accompanying notes to financial statements. ' Toral. All Stores On -sale Store 1976 1975 1976 1975 $1,101,434 $1,194,852 $ 258,607 $ 330,882 -�7 =.7240 795,920 72,529 _ 1.27,454 - $ 3. 54,194 $ 398,932 $ 185,878 $ 203,423 32.16'4 33.38% 71.94% 61..48% $ 331 ,408 $ 326,280 $ 166,059 $ 170,821 3t;, 09% 27.31% 64.26% 51.63% $ 22,%86 $ 72,652 $ 11,,81.9 $ 32,607 — 2.07% 6.07% 7 7Y" 9 8 $ 5,866 $ 8,017 53% .67% ' 28,652 S 80,669 STATEME f OF "."flA `GIES IN RETATNED EARNINGS ' YEAil hl" DED DECEiiBEP._ 31, 1976 r Retained earnings, January 1, 1976 $ 37fs,181 Addition - Net- incom;: 28,652 Deduct -- Transfer to General Fund Retained earnings, December 31, 1976 ,� _3'' -833 1 See accompanying notes to financial statements. ' Off-sale Stores No. I No. 3 9-7 975 1976 1975 1976 1.9'75 1976 1.975 843,027 $ 863,970 $ 242,798 $ 261,556 $ 24,5,970 $ 255,050 $ 354,259 $ 347,364 674,711 66::x' +66 19 6_,_ 3 22- 1-9�7 5 8 3 198,687 282 55' ___271.1' 168,331.6 195,504 $ 46,476 $ 63,949 $ 56,363 $ 71,706 75,192 15 3 19.14% 24.45`/ 20.38" 22.10% 2(-.?4" 21,05% -!65,'349 $ 7';5,,;-59 $ 56,973 $ 54,507 $ 52_,1.38 $ ':8,288 56,2318 $ 52,F;6': .61% 17,99% 23.46% 20.84. ° /., 21.20% 18.93% 2,',j7 4 0, 04 5 10,497) $ 9,4".2 $( 2/ 0014.) 8,075 15,` +6: 2 2 , 5 28 t CITY OF COLIJIM3IA HEIGHTS, MINNESOTA LIQUOR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION YTI,,RS 11 -MELD DEC"E',1iER 31, 1976 A7.0 1975 SOURCE OF FUNDS Operations Net income for the year Items not requiring current outlay of funds Depreciation Decrease in working capital Sett.l.ement of lawsuit Decrease in long -term receivable Total APPLICATION OF FUNDS Increase in lcnig -t.erm receivable Additions to property and equipment Transfers to other. City funds Total Various elements of net change in wor3 -ing capital. Cash Petty cash and change funds Inver, tments A,-.-counts receivable inver--tories Frep,,tid insurance Accou -nt. ; payable Decrease in working capital See accompanying notes to financial statements 1976 , 975 i8, 652 80,669 8,i'05 8,103 ;.8.6; 8 6,333 _ 1,171 - - -88 885 $ t1 28E ..C'' 4,� B= J 00 u S 1:,691 2.,00 (105,G(!0) 7,351 %. 12, 1 3,4 204w:;r:�. 23,26; 30 CITY OF COLUMBIA HEIGHTS, MINNESOTA LIQUOR FUND , STATEMENT OF OPERATING EXPENSES FOR INDIVIDVAL STORES YEAR ENDED DECEMBER 31., 1976 ' Total All Stores Salaries and w:_iges Employee benefits Uniforms Rents Bar supplies General supplies Office supplies Other services Telephone Util.iLies Insurance and bonds Depreciation. _ain.tenance and repair _,-c.enses and m_m �er.ships r- -)fessional services cheer; expo; -so, t .tier Total operating expenses See accompanying notes to financial statements. L On -sale ' Percent 1976 1975 of sales $ 229,019 $ 226,335 $ 117,526 45.48 31,804 2.9,491 18,750 7,25 269 100 269 ,10 1,748 2,212 437 ,1.7 1,789 2,232 1,789 .69 2,660 2,72.1 195 ,08 244 466 84 .03 3,467 6,781 1,218 .47 1,920 1,426 569 .22 1 -2,436 12,996 4,683 1.81 1!+,700 19,224 3,675 1.42 8 ('>OS 8,103 � !f,408 �w 1.71 4,683 6,228w 2,341 .91 479 960 203 ,08 14,046 3,805 7,869 3J15 869 988 8 2,351 2,-32 411 $ X31 ,408 S 326.28 166 ,059 X26 1 See accompanying notes to financial statements. L 31 Off-sale Stores Percent Peroeut >erceot Bcrceoc. of aulea of sales o� Sales ot oo�ex � 111,493 13,22 38,774 15.97 35,074 14.16 3 7,64 5 l0.6] 13,054 1,55 4,567 1.88 L,105 1.75 4`l�2 l,lS 1,311 ,16 437 .18 437 .18' 437 .l2 2,465 .29 739 ~31 1185 ,22 941 '27 160 .02 56 .02 52 .03 52 2,249 .27 595 .25 857 ,35 797 '12 1,351 .16 565 .23 344 .l4 442 .12 7,753 .92 3,142 1.29 2,165 '38 2,446 11`025 I.31 3`675 1.51 3^675 1.4; 3,67 l.�� .52 3,359 .56 1,155�7_ 1�882_. 2,342 .29 521 .21 738 .30 1,083 276 .02 92 .04 92 .U4 92 '0} 0,l77 .7*1, 2,059 .85 2,059 .84 2,059 .58 l 296 .15 392 __�_ .16 �� 'lS 504 'l4 ___ 32 CITY OF COLUMBIA HEIChTS, MINNESOTA PUBLIC UTILITY FUNDS BALANCE SHEETS -- DE(,E! •_ -1_ 9-76 Combined ASSETS Current assets Cash $ 11,6•7 Cash with paying agent 26,713 investments, at cost 332,450 405,450 Accounts ,receivable 70,221. custonnrs 13,351 213,631 netropolitan Waste Control Commission 13,351. Other 7,506 Inventory, at cost $_,,'?O 026 3,280 Prcpaid expenses 29 096 Total current assets Q-12,754 Long-term receivable - Nanopolitan Waste Control Commisbion - Less 336N "52 current portion above isof "I Q 336,132 Total assets !'!jqjjITIESn RESUME AND YUND BAIANGE Current liabllitie�: Accounts payable $ 27,299 Due to Metiopelitan Waste Control ComnissienAak'TL. '75-c" 33 , 61.8 Matured bonds and interest 26,713 Bends payable 25,000 Due to other funds Special Assessment Fund '10401 49,980 General Dolo Service FundT0401! 4,950 Twal current liabilities '560 Long-term liadbiliticF - 1,,ass current portion abnv,�� Due to General. Debt Service Fund 66,000 Bonds payable 50000 Toml long-term liabilities S.Ii6�.ioo Raserve for MetropoliLan Waste Control Commiosion - Current Value Credit $ - 311 Q6 =K___ Fund balance (deficit) $ An q4o Total liabilities, reserve and fund balance See accompanying notes to financial statements. Water Sewer r Water Debt oporJUBg Operating Service Fusd Fund 14nd $ 1,745 0 4,004 $ 5,928 26,713 50,000 332,450 23,000 143,460 70,221. 13,351 7,506 3,20 _29.096 235,(187 $_,,'?O 026 3,6/ +7. 29pxrf3t097 336N "52 239 087 2 $ 21,96S C ,331 33,618, $ 26,713 25,000 � 949 50 000 $ 50,000 3 11, 506 8 "189 405.823 7.56_,_2Z$ 55,641 33 CITY OF COIJJ'j'TBIA YJEICIITS NIII-NESOTA I,JIATER OPERATING FUND '-CO' -J�- STATEMENT OF IN, AND BALANCE Vf,-,A-PS 31., 1976 AND 1-975 1-976 Water sales 122,457 $ 426,:'6 surcharge 51,812 rental 6,607 - (,nao 500 '-io.tcr sales (less cost of sales) 387 316 service 3,989 P', � I al t i k�- S 21764 2, Total operating revenwo 1-5 8-1-1-9 Ope-l-,ating expenses S,-;urcl- of sut'lply - Contractual servlck-,! 8 241,947 Y 211,1902 s t r 'Lbu t ion ;,-,arsonal se r ice, S 9-2,761 75: 715 Other services and char--s, 137,146 16.3T', Supplies upplies 21,597 11 1 ; , (',,j Administrative Personal services 7,541 3 1 Oth<�r si�rvices and 12,525 supplies 1,100 i 'fotal operating $ 7 ' ifpr'r g income _146 292 '3 t0. In.c.,11-me --,,-.id (expense) $ 5,308 4 '1 is �-:n re\�.,-nue bonds and 6,279) c. 4 C: C:; u g 6 27T J-, 36 3.65 Net incoi-,ie J.86,457 $ ?32,8:'`: F;J�id balance, of year 4 .114 , 1, I AdjAdjustment .--.0 prior .;ears' expenditures r10 Deduct C a p J, i e. nd u re s 6602-2 3 7 6 2 9 y T 'u) al Drb t Se r. vice Fund �ll 0 oon /3,600 Trajasfer to Fmid eloc 0,; o ' 2 0,� Tran:._er CapiU�] ' Avcm.ic, 11,1a 8,851) L,4 3,8912) 4,21) F d b J.an e, i de c. r. year L A See accompanying notes tc, -finan(A.al statements. 34 CITY OF C0l,1?A1B1A HL'I:GHTS, MINNESOTA WATER OPERATING FUND STAME,'NT OF CHANGES IN FINANCIAL POSITION YEARS ENDED DECE,�IMER 31, 1.976 AND 1975 SOURCE OF FUNDS Operations Net income for the year Increase in long - term derDt Waiev `Po4,ey Adjustment of prior years' e Lerp.di_ti?.re.s APPLICATION OF FUNDS Capital outlay Transfer to other funds Reduction of long -term debt Increase (decrea: �) in working capital Various elements of net change; i.n working c, vital Cash Investments Due from other funds Accounts receivable Tnventories rrepaid expense Accounts payable Contracts payeble Due to other- funds Increase. (Jecle.ase) in working capital See accompanying notes to financial statements. 1976 $ 186,457 1.,100 $ 27,562 43,892 67,450 48,6 53 .LjA i 5 7. $( 5,828) 1.1 ,7 6 372 13,309 1,477 3:3,067 (_16; =30) t 1975 $ 132,875 57,550 190 5 , $ 223,219 ' 48,051 ( f`8,792) 0,000 ( 4, c,'0) t. 276) 8.474 , ;$5 ' ( 6 ,067) 80 84. 5 ) 1 35 CITY OF COLURBIA HEIGH`rS, MINNESOTA SEWER OPERATING FUND STATEMENT. OF INCOME AND FUND BALANCE YEARS ENDED DECEMBER 312 1976 AND 1975 See ing notes to financial. statements. 1976 l y) s Operating revenue - Sewer rental 454,728 LILO., 279 Operating expenses Collection Personal. services $ 86,09L, , 09L $ 72,962, Other services and char g es 14 ,616 16,96. Supplies 17,868 21,592 Disposal - Contractual services 242,056 202,22' Administrative and general Personal services 10,796 5,001 Ott -ter services and charges 16,897 10,810 Supplies 818 1,449 Total. operating; expenses $ 389,145 S3 9_, 972 Operating income. 65 ; ^•;; - Other. income Interest earnedT~Sr, Cd(4t, ?ES.C4 -}p $ 27,832 $ 2-11, 5 2,1. Tiiscellaneou s 5,125 7 1180 _ s2, 957 34 432 Net income $ 98,540 S 84,739 Fund balance, Beginning of y^ar 383,963 338,368 Deduct Addit .oval sewer charges ( 33,618) ( 10,409) Ca,ital outlay expenditures ( 11,453) ;. 735) T. °ansfer to General D,_bt Service Fund ( :iC,;;O`;j 25.000) Tr._frster to Asseesc-ent Fund Permanevt Improvement Revolving Accounte(R p I vhf r,("C) - -� Fund balance, End of year See ing notes to financial. statements. 36 CITY OF CO.LUNBIA HEICHTS, MINNESOTA SEWER OPERATING FUND STATEMENT OF CHANGES IN FINANCIAL PO ITTON YEARS ENDED DECEMYER 31, 1976 AND 1975 SOURCE OF FUNDS Operations Net income for the year Decrease in long -term receivable Total APPLICATION OF FUNDS Capital outlay Transfers to other funds Adjustment of pr.•ior period sewer charges Increase ir working cope tal Total_ Various elements of change in working capital Cash Investments Accounts receivable Duce to Metropolitan Waste. Control Commission Prepaid expenses Accounts payable Increase in `corking capital See accompanying [Tots to financial statements, 1976 1975 $ 98,540 $ 84,739 3,221 2,442 � IOl,J61 8 87. $ 11,453 $ 3,735 31,609 25,000 33,618 10,409 25.081 48.037 $ 101,761 ,x_87,181 $ 1,748 290,000 (241,917) ( 23,209) x_1,541) 25,081 $( 14,514) (165,000) 224,959 ( 123) 2,715 48,037 CITY OF COLUMBIA HEIGHTS MINNESOTA WATER DEBT SERVICE FUND STA_T_IFMENT OF REVENUE EXPENDITURES AND FUND BALANCE YEAR ENDED DECEMBER 31, 1976 Revenue Transfer from [later Operating Fund Interest earned Total revenue Expenditures Interest Paying agent fees Total. expenditures P,evenues over (under) expenditures Fund balance (deficit), January 1, 1976 :Fund balance (deficit), Decemb::r 31, 1976 See accompanying notes to financial statements, $ 38,000 2,384 $ 4Q, 334 $ 3,425 35 $ 3,460 e 36 92,4 $ 82, 996) 46.,_Qs '2) 37 3u 3 ' CITY OF COLUMBIA HEIGHTS, MINNESOTA ESCROW FUND ' BALANCE SHEET DECEMBER 31, 1976 .ASSET LIABILITY ■ 'Liability - Account payable ,A,4 ' STATE LENT OF RECEIPTS ANTI) DISBURSEMENTS YEAR ENDED DECEMBER 31, 1976 Cash balance January 1, 1976 'Receipts - Deposits T` Disbursements - Refunds $_ 4`i Cash balance December 31, 1976 See accompanying notes to financial statements. 39 CITY OF COLUMBIA HEIGHTS, MINNESOTA STATEMENT OF GENERAL LONG -TEP.M DEBT DECEMBER 31�, 1976 < ie.'Uttt avai.lat;le and to be provided for the payment of general. long -term debt Y\mount available in General Debt Service Fund r:!�Ao,3o.t to be provided by future taxes Total available and to be provided debt payable -• Sf- ec i.al bonds payable F'v.nr? - Qnappropri.ated S,_., accompany notes to financial statements. Combined $ 511,142 1,620,955 $2,132,097 $2,130,000 2,092 2 1.3L097 40 Storm City Capital Ya;_Ic Sewer State -aid Garage Improvement Fonds Bonds Fonds Bonds Bonds of 1962 of 1965 of 1969 of 1972 of 1976 E,cc.ount Account Account Account !!cc0u_ t $ 33,871 $ 148,188 $ 32,097 $ 70,882 $ 22-t,,104. _51 L 129 536,12 _a 239,118 793,896 85,000, 685,000 L--12-,O 9 Z — 310,000 Y 85,000 $ 685,000 $ 30,000 $ 310,000 S1 ,020,ON10 $ 685,000 �-�_32,097 $ 310 000 41 CITY OF COLUMBIA HEIGHTS, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31. 1976 Note 1 - Summary of Significant Accounting Policies The City statements are shoran on both the accrual and modified accrual basis of accounting. Transactions in the General, Special Revenue, and General Debt Service funds are recorded on the modified accrual basis, all other funds are shoc;1n on the accrual basis. Funds maintained on the modified accrual basis (which is in accordance with genc:r� ^11y accepted accounting principles, in certain circumstances) are those funds which record transactions in the following manner; (a) General property taxes - Revenue is recognized in the year of anticipated collection; (b) Interest expense on general bonded indebtedness and special assess- ment bonds - Interest expense is recorded as an expenditure when paid; interest is not accrued unless fully matured and not paid; (c) Interest revenue on special assessments receivable - Interest revenue is recognized in the year of anticipated collection of the current principal installment; (d) Construction contract; -• All contracts are recorded utilizing encumbrances, with the related expenditures recognized as the construction is incurred; (e) Bond and interest payments due January 1 - Expenditures are recog- nized when amounts are remitted to the fiscal agent (usually in December) for payment of bonds and interest. Investments - Investments are carried at cost which approximates market. Invest - ment re,:anue is recorded as earned and is allocated to the respective funds. Inventories - Inventories held by the Enterprise,,F'udd are-stated at cost, which is lower than mark.et�ar Property and equipment - Enterprise Funds - The property and equipment of the Liquor Operating Fund are stated at cost. depreciation has been provided using th.c so_aight -line method over the estimated useful lives of the assets. The property and equipment of the [dater and Sewer Operating Funds are not recorded by the City, consequently, depreciation is not recorded as an operating expense. This is not in conformity with generally accepted accounting principles. General. Long -term Debt - The general long -term liabilities, except for enterprise and special. assessment funds, are not carried as a liability of a fund, but rather are set up in a separate self-balancing group of accounts known as the "general long; -term debt group of accounts ". 42 Notes to the Financial Statements (Continued) Note 2 - General Fixed Assets ' Cen- -oral fixed assets owned by the City are not included in the financial statements since records thereof are not maintained. Generally accepted accounting principles require their inclusion in the financial statements. Note 3 - Water and Sewer Fund Property and Equipment_ The property and equipment of the Water and Sewer Funds are not included in the financial statements since records thereof are not maintained. Depreciation has consequently t ?.ot-t been recorded. The a,,iouat by which the financial statements would chango if these items were included cannot be detter:?lined. This omission is not in agr:erent with generally accepted accoutILIng principles. Note 4 _ Metropolitan Waste Control Commissi.rnz The receivable and corresponding reserve of the Sewer Operating Fungi'_ from the Metropolitan Waste Control Commission represents the City's share of equity in the City's and Minneapolis "sewer sysizems which t7ere acquired by the Commission ' January 1., 1971. This receivable will. be paid tc, the City by issuing annually through 1999, against future sev(�r billings from the Commission. T',.ies�� credits will be reflected in the statement- of income as received. ' Note 5 _ Pension Fun(!, _ Deficits The City _ganually :levies taxes for the terr.efit of tI)e 'Poli-ce and Firemen's relied ' associations which are pension funds for tito� .restpective department employe�es. Prior to 1972 full funding was not requi.reet ar_o. most municipal 1, v;.es ?a• >r , ' insufficient to provide full funding for these. funds. As a resul.i: , the liabilities became: ' Date of last actuarial survey July 31, 1973 Police Relies Association $80',.35 December 31, 1974 Firemen's Relief Association State 'law now requires that municipalities levy t.ases annually in such a,t aacM,t a.s wi_ -il freeze the deficit by 1980. To comi,ly with this requiremYnt the City ire 1977 will provide $66,300 for the Police Relief Association and $47,000 for the Firemen's Relief_ Association. Note 6 - Retirement Plan The City participates in a state- -wide contributory pension plan under the Public Employees' Reti.reraent Associ.atinTI, Minnesota Statutes Chapter 353, which coves all employees except certain volice, zir.e, temporary arrd seasonal employees. Th^ Yy' $11` ,108 for _he year contribution for per1S1.0i1 costs under L }l.e state- ;ai.:i., elan wr_is ? !- ' ended December 31, 1976. Under existing Minnesota law, the City has no fIjLLI:c. contir gent obligations or commitments to the plan or Its participants e._c l.pt to make colltlnll'Lng contributions as dtAetnlned from tithe to time I'•';-' the Sr=1tF 4_c:;;LStctrlll " "�_ 0 Notes to the Financial Statements (Continued) Note 7 - Vacation and Sick Leave Accrued vacation and sick leave are not recorded as liabilities at December 31, 1976. City employees are entitled to vacation and sick leave based on Length of employment and the payment thereof is treated as expense in the period paid. The amount of accrued leave at December 31, 1976 was not determined. Noise 8 - Bonded Debt The City has three types of bonded debt outstanding at December 31, 1976. There are (1) general obligation bonds (General Long -term Debt) (2) general obligation improve- ment bonds, wad (3) general obligation water revenue bonds. The first type of bonds are payable solely from general property taxes. The second and third types are payable primarily from other sources, special assessments and water revenue, with any deficiency to be provided for by general property taxes. Selo the supplemental information for schedules of bond and interest maturities. Not, 9 - Liti.gation The City had the usual and customary types of miscellaneous claims pending at yesy- end, mostly of a minor nature and usually all covered by insurance carried for that 44 ASSETS CITY OF COLUMBIA HEIGHTS, MINNESOTA BALANCE SHEETS - ALL FUNDS DEMMER 31, 1976 Casio (deficit) Fett:y cash, c11lange funds Investments, at cost Cash taith paying agents Due fror-, other funds Accounts receivable cc.-roed interest receivable Delinquent taxes receivable Allowance for delinquent taxes Special assessments receivable Delinquent (principal and interest) Deferred. (princlpa.l only) at ci)s l- A x• ltot avai. ;Able in General Debt Service Fund i�rispa lo tin. �.sse,:,sed costs ktooui?ts to be. provided by future revenues 1 ixf,ex assets (Liquor Fun'l only) at cost, l,-,,.ss accumulated depreciation Total assets L-V BI.LIiT.rS� RESERVE AND FUND BALANCE Liabilities Due from other funds Accounts payable Contracts payable Deferred revenue Deposits Bonded indebtedness Matured bonds and interest Future bo eLs maturities Reserves Retained earnings Fund balance Total liabilities, reserve and fund balance General. fund $ 21,482 775 561,518 53,216 57,924 ( 57,924) 636 99'1 $ 34,352 3,875 7,355 591,399 Special Revenue Funds $ 61,292 50 150,000 49,894 658 ( 658) Investment Trust $( 18,578) 18,578 �- 261.,236 $ 2,862 127,537 27,422 103,415 .,991 ; 261236 $ -0- 45 ' Capital Special General Debt Public C(ir.er,al project Assessment Service Liquor utility Escrow long -term f ads Fund Fund Fund funds Fund debt - -a --- - -- - - -- __ 8 22,795 $ 1,026 $ 54, 01 f,. $ 16,227 $ 11,677 $ 854 575,000 7,000 345,000 405,450 10,100 56,033 131,425 26,713 98,037 49,980 70,950 41,178 13,050 570,790 1,558 10,466 ' ( 1,558) ( 10,466) 104,017 ' 388,565 138,895 3,260 29,096 '1214,989 1 , ,?0 9 '55 695,832 $ 730,910 $ 6! +2,567 ,$ 347,492 $1,047,006 ,$ 85jF 2 1.32 Q�L/ $ 120,90 3,650 $ 420 $ 27,659 60,917 $ 85� 22,780 500 1,980 14,636 56,033 $ 131,425 26,713 465,000 75,000 $2,130,000 ' 319,833 31.1 , 506 6691402- - 192,341 _ -- 511,142 - _ 451,940 '� 695,832 730�910 G42_567 347,49210! +7 0�6 8 46 CITY OF COLUMBIA HEIGHTS, MINNESOTA STATEMENT OF CASH AND SECURITY FOR DEPOSITS - DECEMBER 31, 1976 Cush Marquette State Bank, Heights, Minnesota Checking account 'twin Cite Federal. Sav Fridley, Minnesota ?ome Federal Savings, Face amount of securities Cash lled_ged as collateral Columbia $( 29,711) 553,000 ingf anj 'Loan - Savings Account $ 100,000 Columbia Heights, Minnesota - Savings account $ 100,000 Escrow deposit $ 500 Petty cash and change funds $ Total cash ,fi_181,714 Witinual coverage of $40,000 for demand deposits and $110,000 for time deposits is provided at the above depositories by the Federal Deposit Insurance. Corporation ny the Sede.ra1 Savings and Loan. Insurance Corporation. STNEEMFI\n' OF INVt ?S'1'li 'TS DECEMBER 31, 1976 — Cer Viflna. o of Deposit - fidelity Bank ind 'Trust Uogpany fedora! Intermediate Credit Bank Debentures Federal intermediate Credit Bank Debentures U, S. Treasury Bills W, S :Treasury Bills U, S. Tr..ssury Bills U, S. Treasury Notes U. S. Treasury `rotes City of Columbia Heights Park Bonds Storm Sewer Bonds of 1965 Storm Sewor Bonds of 1965 Total Interest Rate Maturity Cost 4.65 2/22/77 $ 100,000 6.50 4/ 4/77 175,270 6.10 5/ 2/77 250,139 6.04 1/11/77 99,825 4,7 1/14/77 98,660 4,90 8/23/77 96,921 5.75 11/30/78 1,109,797 5.75 111'30%78 100,906 3.4 21/ 1/77 5,000 3.6 1/ 1/84 3,750 3.6 1/ 1/84 3,700 12,041,968 t CITY OF COLUMBIA HEIGHTS, MIN- 1ESOTA SUMkIAIZY STATEMENT OF CASTI RECEIPTS AND DISBURSEMENTS - ALL FUNDS YEAR ENDED DECEMBER 31, 1976 General Fund Special revenue funds Recreation. Fund Civil Defense Fund State -Aid - Maintenance Fund Anti - recession Aid Fund CETA Fund Revenue Sharing Fund Investment Fund Capital project funds State -Aid Construction Fund Central Avenue Urbanization Fund Water Main Fund Park Improvement Fund Sullivan Lake Fund Capital Improvement Fund Special Assessment Fund Permanent Improvement Revolving Account Permanent Improvement Revolving Debt Service Account General Debt Service Fund Municipal Building Bonds of 1959 Park Bonds of 1962 Storm Sewer Bonds of 1964 Storm Sewer Bonds of 1965 State -Aid Bonds of 1.969 City Garage Bonds of 1972 Capital Improvement Bonds of 1976 Liquor Fund Public utility funds Water Operating Fund Sewer Operating Fund i�'atc�r Debt Service Fund Escrow Fund 47 Cash balance Cash balance January 1, December 31, 1976 Receipts Disburser nts 1.976 $ 24,403 $2,923,213 $2,925,359 $ 22,257 11,853 1.09,768 119,298 2,323 93574 26,002 22,357 1.3,219 197 48,543 214 48,526 17,730 17,730 114, 718 123,552 ( 8,834) 390 306,415 300,697 6,108 ( 14,737) 92,616 96,457 ( 18,578) 269 254,030 254,810 7,372 1,818 592 10,852 11,444 10,959 1,190 9,769 6,085 559,576 563,519 616,270 610,429 ( 83,691) 848,398 888,162 t: I.2,D'455") 97,966 320,896 94,3 '? . =r,48 2,109 97 2,20: 1,323 60,962 28,41 -4 3s?7 8,251 189 8,!:40 16,210 106,943 1.i. ,71'1 7,4,40 34 22,304 1 ,621 10,717 4,433 130,990 1'?/i,541 382 247,221 2!'-5,117 ,1.04 12,937. 1,249,636 1;236,246',:,2:' 7,573 676,869 682,697 1,745 2,256 791,111 789,363" 4004 17,004 !+0,384 51.,460 879 ^ -- 199 --- - 4 -- - 854 $__144,241 $9,575,752 9 538,20 48 CITY OF COLU<MB1.A HEIGHTS, MINNIsSt)TA BONDS PAYABLE - A1,1, _FiJNDS DECEMBER 31 , 1916— :�v8.5, 000 State-Aid Bonds of 1169 Account: February 1 1977 211/69 4.50% 2/1/77 $ 10,000 ti $1.0,:'100 per yuar 4.60 2/1_/78_79 1O f;(�t1 Garldae Issue In.ter.est Maturity Capital Improvement Bonds date rate_ date Princi_ pal GENERAL LON(,-- T;,RTH DEBT $ 0,000 . 1anuary _ 3.90 1/1/79 Park Bonds of 1962 Account January 1, 1980 4.00 I /1/ 80 .50,000 Park Bonds 1, 1981 4.10 1/1x'81. 50,000 January February 1, 1977 2/1/62 3.4G 2/1/77 $ 25,000 $30,000 per year 1/033 3.50 2/1./73 -79 60,000 $ 8 _ 100 Storm Sewer Bonds of 1965 Account Storm Sewer- Bonds ^� January 1, 1978 10/1/65 3.00% 1/1/78 $ 40,000 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 W/85 140,000 :�v8.5, 000 State-Aid Bonds of 1169 Account: February 1 1977 211/69 4.50% 2/1/77 $ 10,000 ti $1.0,:'100 per yuar 4.60 2/1_/78_79 1O f;(�t1 Garldae lia._ds of 1972 Account Capital Improvement Bonds October 1, 1977 ''x/1/76 „a.nuary 1, 1978 7/1/72 3.80% 1/1/78 $ 0,000 . 1anuary 1, 1979 3.90 1/1/79 50,000 January 1, 1980 4.00 I /1/ 80 .50,000 . January 1, 1981 4.10 1/1x'81. 50,000 January 1, 1982 4.20 1 / 1 /.S2 50,00c, January 1, 1983 4.30 1/033 60 ,(111(1 <:1 n �_._... �.. - -- -2000 Cap;-ta1_. jir r:�vement Bonds of 1976 Account Capital Improvement Bonds October 1, 1977 ''x/1/76 3.50% 10/1/77 $ 105,t.00 October. 1, 1978 3.75 10/1/78 150,000 October 1, 1979 4.00 10/1/79 1=0,000 Onober 1, 1930 4.15 10/1./80 1.50,000 October 1, 1981 4.30 100/131. 175,000 October 1, 1982 4.45 10/1/82 1.75,000 October 1, 1983 4.60 10/1/83 0 115.000 51�, O2`) 000 Total General Long-term Deb,. $? i 49 CITY OF COIJRMDIA DBICDIS MINND8(7[& BONDS PAYABLE - ALT, FUINDS (CONTINUED OMEMBE'R. 31, 1.976 Issue Intereot �oLoriLy Jato rot e Ja�e Principal S9�CI�l. �SS2SS���I �li0D Improvew Revol-wi.na l}oI�ls of 1969 �70,000 per year 6.00% 2/I/77-79 $ _2l0J000 Pe-L-marientImpKovenient Revolving B m] f l072 Juooury l, 1.978 3,O07 l/1/78 S, �0,000 January l, l979 3'90 l/l/�9 �o,00U January l` 1980 �.00 I/l/60 50,000 January l, I981 14 10 I/I/8I 510,08O January l, 1982 4.20 I/1/82 S0,O00 January l, 1983 4.30 1/1/83 2Jx00 S 25},0�U Total Special Assessment Fund 465 000 WATER DEBT SERVfCE � � ob l l96 $25,000 l0/I/65 3 07, I/1, /i8-79 Juoouzy l, l)SO 3.58 I/l/GO CXo) Total Debt Service Fno6 Total huodo puyo6le all funds 50 OF COLUMBIA 1iEIGHTS , MTNNF,SOTA 'CITY STATEMENT OF CHANCES IN EONDED IIMEB`I'EDNI3SS — YEAR ENDED DECEMBER 31, 1.976 ' Balance Balance January 1, 1976 Tssued Redeemed Dece•::lber_31 ,197h General Obligation Bonds $1,195,000 $1,020,000 $ 11.5,000 $2,100,000 Special Assessment Bonds 585,000 1.20,000 465,000 State. Aid Bonds 40,000 10,000 30,000 Water Revenue Bonds 100,000 25,000 Total $1,920,000 '1. 02,000 $.._- 270,00 „2 h7Q�OQC DEBT SERVICE 1QUIREMENTS - ALL FUNDS DI-C I7Y ER 31, 1.976 ' Your Total Fr inci-pa:;_ T;..%; es 1977 480,933 $ 375,000 10`x,; 51 CITY OF COLUMBIA HEIGHTS, MINNESOTA TAX LFVTI-,S AND COLLECTIONS SP I" ;TAI. A S SE S SM F, N, T L E V I I � S A T Collection T VY P _ r C e e P e r c ell t a E4 C: e c L i o of total of levy f P -C i o r T o La 1 C o I 10, C, s, c o C- c i-- -2. J yLea-IL -s L,,)I�L-ecf-J.Ons t:: v v- 66 .087, $ 18, 8 126 ,"07 Percentage Col-lectioll Percentage Collection of total Total- of current of levy of prior Total collections I_ %ar levy-- year's levy collected year's levy collections to levy 19-76 $17430,026 $1,407,240 98.41% $ 18,377 $1,425,617 99.69; SP I" ;TAI. A S SE S SM F, N, T L E V I I � S A T Collection T VY P _ r C e e P e r c ell t a E4 C: e c L i o of total of levy f P -C i o r T o La 1 C o I 10, C, s, c o C- c i-- -2. J yLea-IL -s L,,)I�L-ecf-J.Ons t:: v v- 66 .087, $ 18, 8 126 ,"07 GEORGE M. H A N S E N COMPANY Certified Public Accountants 175 SOUTH PLAZA BUILDING WAYZATA BOULEVARD AT HIGHWAY 100 MINNEAPOLIS, MINNESOTA 55416 546 -2566 March 15, 1977 The City Council City of Columbia Heights 590 40th Avenue N. E. Columbia Heights, Minnesota 55421 Gentlemen: During the course of our examination, we make certain observations which we feel will be of interest to you,, These observations, of course, refer only to those areas to which our audit work extended. - It is our responsibility to comment on the internal control of operations. Internal control is defined as the segregation of duties so that no one employee has complete control over an entire transaction. Good internal. control suggasts that the work of one employee becomes an automatic check on the work of another employee. The comments which follow are not criticisms of the present system, but rather suggestions for improvement based upon both our experience and our observations of similar situations in other governmental entities. INTERNAL CONTROL AND RELATED MATTERS Property Ledger 0 The City does not maintain a property ledger on its furniture and equipment. Such a ledger can be useful for insurance purposes and for protection against loss from pilferage. Effective control can be maintained by taking a physical inventory annually and comparing assets with items listed in the ledger. Identification would be made easier by affixed, prenumbered tags to the property, with the tag numbers listed with the corresponding item in the ledger. Progress has been made toward development of a complete ledger system, but it has not been completed, Utility Plant and Equipment The City staff is in the process of setting up records of the utility plant and equipment which includes the water and sewer distribution and collection systems. This project_ was not completed in time for the utility systems to be included in the 1976 audit report, when the project is completed the utility system will be included in future audit reports. 4 The City Council City of Columbia Heights, Minnesota March 15, 1977 Page 2 Liquor Operations Checks that are returned from the bank as N.S.F. or for other reasons are redeemed by the store manager for cash from the change funds This reduces the effective amount of the change fund. We feel better control would be established over these items if all checks being returned by the bank were charged against a special check clearing account. During our count of cash at the Central Avenue store, we noted that there were $70 in loans made to a customer and an employee. This situation was brought to the attention of Mr, Watson. We understand the practice has ceased. Cash overages and shortages increased significantly during 1976, A review of the account showed several large shortages occurred. The liquor store employees should be instructed as to the importance of properly recording sales and making change. Any large cash shortages should be investigated. We suggest that someone, not connected with the Liquor store operations, make periodic surprise cash counts of the change funds. OTHER MATTERS During 1976, General Fund revenues exceeded expenditures by $298,501. Actual revenues exceeded the budget estimate by $182,030 and expenditures were less than the budget estimate by $115,766. The fund balance was $591,399 at December 31, 1976, an increase of $298,501 over the December 31, 1975 balance. The fund balance of $591,399 represents approximately 23% of the 1977 budget. Special Revenue Funds The City has separate funds to account for civil defense, State-aid maintenance and CETA. These activities could be accounted for within the General Fund. Council should consider consolidatir_g these funds into the General Fund. We would be pleased to discuss these suggestions further with you and assist with any changes you may wish to make. We also wish to express our thanks for the courtesy and assistance extended to us during the course of our examination. JGM:gmd Very truly yours, GEORGE M. HANSEN COMPANY J. Gregg j M rphy �% CITY OF COLUMBIA 17 ITS - MINNESOTA ASSESSED VATLUA' IO�'S X LEV-LES MIES -- �r , AND LL RNP _IV� (Shmm by year of collectibility) valeatlon to fi-cal ties pool ?buLi.,Dn from fiGcal -pool. Ta,-cabllc valuations « V i e S I's F u 'Ad c;, -lief SGds a--id interest Totan! 197 -1975 1976 �566 5 t ,219 958,3&\,111 63,979,068 850,397) 6 19 <,:, 3 9 Z6 ,2 19 8.3,, I 11 S 6 7 I 1,009,136 $ 1;102,293 $ 896,270 17,270 &,I6& zo, no 100,0 (6;000 47 o 0 65,850 6 6 I 116,2!3 16,967 -9 52 19-117 %68,9/7 830,6§7) 2 -5 7 \ 47L 223, f IS IS 1 6 / ,94 3.16 21 0 1. \e /r\1`rutd 17,53 18.53 C .30 .07 I V .9; I-C, Fun'd raze yelia2 .7 and .01 .26 Total 120.W 52 19-117 %68,9/7 830,6§7) 2 -5 7 \ 47L 223, f IS IS 1 6 / ,94 3.16 21 0 1.