HomeMy WebLinkAbout1977 CAFRANNUAL FINANCIAL R E PORT
OF THE
CITY OF
COLUMBIA HEIGHTS, MINNESOTA 55421
590 FORTIETH AVENUE N.E.
FOR THE YEAR ENDING
DECEMBER 31, 1977
FINANCE DEPARTMENT
JOHN E. SCHEDLER, FINANCE DIRECTOR
MEMBER OF MUNICIPAL FINANCE OFFICERS' ASSOCIATION
OF THE UNITED STATES AND CANADA
telephone: 788 -9221 (612)
OF CITY OF COLUMBIA HEIGHTS
March 15, 1978
Mr. Stuart W. Anderson
Interim City Manager
City of Columbia Heights
Dear Mr. Anderson:
OUR BUSIN
The annual financial report of the City of Columbia Heights, Minnesota
for the year ended December 31, 1977 is submitted herewith. This is the
first year these reports are being prepared by staff, heretofore this was
done by the outside auditors.
ACCOUNTING SYSTEM AND REPORTS
The City maintains complete self - balancing account groups for each
entity of the City in accordance.with the organizational chart of the City.
This results in a classification of transactions according to specific
functions, separate and distinct from those pertaining to unrelated activities.
A summary of significant accounting policies is contained in Note 1 of
the Notes to Financial Statements. These notes are contained in the Financial
Section immediately following this commentary.
Budgetary control is maintained by an encumbrance system whereby
purchase requests are pre- audited as to authorization and availability of
funds prior to their release to vendors. Also inherent in this controlling
function is the management philosophy that the existence of a particular
item or appropriation in the approved budget does not automatically mean
that it will or must be spent. The budget process has flexibility in that,
where need has been adequately demonstrated, an adjustment can be made
within the department budget by the City Manager, or between departments
and funds by the City Council. Therefore, there is a constant reviewal
process and expenditures are not approved until it has been determined that
(1) adequate funds were appropriated, (2) the expenditure is still necessary
and (3) funds are available.
I
' Bruce G. Nawrocki, Mayor
E. "Sebe" Heintz, Councilmember Walter Logacz, Councilmember
' Gayle R. Norberg, Councilmember Kenneth E. Hentges, Councilmember
EQUAL OPPORTUNITY EMPLOYER,
FINANCIAL STATEMENTS FOR INDIVIDUAL FUNDS
These are indexed in the preceding table of contents. In addition, the
header for each type of fund provides a description of the basis for establish-
ment of the fund and another table of contents of the financial statements
pertaining to the individual. fund. Each statement of the General Fund, Special
Revenue Funds (where applicable) Enterprise Funds and Intragovernmental Services
Funds are presented with comparative information from 1976.
STATISTICAL SECTION
The statistical section presents comparative statistical data for past
years. It should be of interest to investors in city bonds and others interested
in financial statistics of municipal government.
The City Charter requires an annual audit. The 1977 audit will continue
shortly and will be conducted by the firm of George M. Hansen Company. This
report is that of the Finance Director, and when the auditor's opinion is re-
ceived, it will be incorporated in this report.
GENERAL GOVERNMENT FUNCTIONS
Highlights of the City's financial activities during 1977 include:
General Fund revenues exceeded expenditures and encumbrances by $274,889
a Substantial completion of capital projects in 1977:
Fifth Street Sanitary Storm Sewer Separation Project $ 515,700
Curb and Mat - Southwest Corner of City $ 155,455
Sidewalk Repair $ 48,540
a Awarding of two EDA Grants
Municipal Public Safety Building $ 413,000
Fifth Street Sanitary Storm Sewer Separation Project $ 91,000
The payment of $480,932 in principal and interest of scheduled bond
maturities.
Excluding construction funds, total revenues for the City in 1977 were
$5,525,794 and total expenditures were $5,114,092.
GENERAL FUND
On December 31, 1977 the fund balance of the General Fund totaled
$863,828 Of this amount $34,483 is appropriated for the 1978 budget and
the balance $829,345 is available for future budget appropriations. Although
the unappropriated fund balance appears to be adequate, it should be pointed
out that this represents a working capital for general operations that is
used extensively during the first seven months until current taxes and state
aids are received. Even at this level of working capital, the General Fund
experiences cash flow problems in early summer and late fall of each year.
CITY OF COLUMBIA HEIGHTS, MINNESOTA II
ANNUAL FINANCIAL REPORT
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
CITY COUNCIL
Bruce G. Nawrocki, Mayor
E. "Sebe" Heintz Councilmember
Kenneth E. Hentges Councilmember
Walter S. Logacz Councilmember
Gayle R. Norberg Councilmember
INTERIM CITY MANAGER
Stuart W. Anderson
FINANCE DEPARTMENT
John E. Schedler
Robert J. Kolb
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Director
Accountant
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
TABLE OF CONTENTS
PAGE
LETTER OF TRANSMITTAL I
FINANCE DIRECTOR'S REPORT
FINANCIAL SECTION
AUDITOR'S OPINION
NOTES TO FINANCIAL STATEMENTS 1
COMBINED FINANCIAL STATEMENTS 6
FINANCIAL STATEMENTS FOR INDIVIDUAL FUNDS
GENERAL FUND 20
SPECIAL REVENUE FUNDS 29
CAPITAL PROJECT FUNDS 38
ENTERPRISE FUNDS 44
INTRAGOVERNMENTAL SERVICE FUNDS 68
TRUST AND AGENCY FUNDS 71
CAPITAL PROJECT FUNDS - SPECIAL ASSESSMENT BONDS 73
GENERAL DEBT SERVICE FUNDS 76
GENERAL LONG TERM DEBT GROUP OF ACCOUNTS 82
STATTSTICAL SECTION 83
DEPARTMENTS
Accounting
City Clerk
Elections
Utility Billing
Collections
Liquor
Bar
No. 2 Off Sale
No. 3 Off Sale
DIVISIONS
ADMINISTRATIVE
ORGANIZATION
Regular
Reserves CITY OF COLUMBIA
HEIGHTS, MINNESOTA
Regular
Volunteers
Reserves
FIRE
FINANCE
Inspections
Licenses & Permits ADMINISTRATIV
Planning SERVICES
Assessing
Engineering
Streets
Water Maintenance
Sewer Maintenance
Parks - Admin. &
Maintenance
Central Garage
Civil Defense
PUBLIC
WORKS
LIBRARY
GENERAL
\GOVERNMENT
BUILDINGS i
LEGAL
L OF COLUMBIA HEIGHTS, MINNESOTA
POLICE
MAYOR
CITY
MANAGER k N LECTORS)
RECREATION
COUNCIL
MEMBERS
Recreation INDEPENDENT
Commission SCHOOL DIS-
TRICT #13
COMMISSIONS AND BOARDS
Planning and Zoning
Recreation
Park
Traffic
HRA
Library
Human Services
Police & Fire Civil
Service
Charter
Downtown Development
ANNUAL FINANCIAL REPORT
Estimated and actual revenues for the current year is presented in
Form B -2. Revenues received for general government operations totaled
$2,738,002 in 1977, an increase of $225,902, or 9.0% over the previous
year. The following table presents an analysis of the major revenue
sources of the General Fund for 1977 and its change from 1976.
1977 Percent Increase (Decrease)
Revenue Source Amount. of Total from 1976
General Property Taxes
$ 895,773
32.7 %
$ 139,657
Licenses and Permits
71,228
2.6
9,149
Intergovernmental Revenue
1,244,390
45.5
118,288
Charges for Services
297,653
10.9
(819)
Fines and Forfeits
50,406
1.8
3,310
Miscellaneous Revenue
102,555
3.7
12,433
Expenditure Reimbursements
18,421
.7
(13,046)
Transfers - In
57,576
2.1
(38,070)
Totals
$2,738,002
100.0 %
$ 225,902
From the above table, it is apparent that the major sources available
for funding the general operations is the property tax (32.7 %) and inter-
governmental revenue (45.5 %), primarily state aids. Both of these sources
are controlled in the amount that they can increase by what is known as
the Levy Limitation Law.
LEVY LIMITATION
The Levy Limitation Law was first implemented in 1972 and, in general,
has placed a limitation on the amount of increased revenue that can be
derived from the property tax and local government aid. This amount of
increase is stated in terms of 6% per capita. Since enactment, various
amendments to the law have been enacted, but the basic principle remained
the same. The following table summarizes the City's status in complying
with the law for 1977 and 1976:
1977 1976
Levy iimit base $1, 7`3,294 $1, 22,995
Less: State aids applicable to levy limitations (913,690) (710,220)
Levy limit before special levies
Plus: Special levies allowed:
Debt service
Other
Total allowable levy and amount certified
$ 959,604 $ 916,775
223,000 300,000
258,440 212,735
$1,441,044 $1,429,510
It has been the City's practice to levy at the levy limitation. The
above table shows that the City is at its levy limitation. In order to
fund the present level of service, including increased costs due to
inflation, the City needs to depend on increases from other revenue sources
in the future if there is not a modification of the Levy Limitation Law.
CITY OF COLUMBIA HEIGHTS, MINNESOTA III
ANNUAL FINANCIAL REPORT
FISCAL DISPARITIES
In 1971 the legislature enacted a Fiscal Disparity Law which was
not implemented until taxes payable in 1975 due to a constitutional
challenge. The law provides for the pooling of 40% of all new commercial/
industrial property valuation or growth in the seven county area to be
redistributed to the taxing jurisdictions according to specified criteria.
Although it is difficult to determine the future impact of the law
on the City, it appears that the City will gain in nominal amounts. The
impact on the taxable valuations of the City for taxes collectible in 1977
and 1976 was as follows:
1977 1976
City's taxable value:
Personal property $ 1,220,899 $ 1,230,101
Real estate 67,746,917 62,748,967
Sub -total $68,967,816 $ 63,979,0
Areawide allocation:
Contribution to "pool" $ (850,697) $ (850,697)
Distribution from "pool" 2,355,131 2,619,939
Net increase $ 1,504,434 $ 1,769,242
Combined Value $70,472,250 $ 65,748,310
Actual taxes received in 1976 from the fiscal disparities allocation
amounted to $56,984 and in 1977 the amount was $51,268. This represents
a small amount of property tax relief to Columbia Heights taxpayers. It
should be remembered that, regardless of how much "new revenue" is received
from fiscal disparities, the revenue is part of the tax controlled by the
levy limit within which the City must still operate.
PROPERTY TAX AND SPECIAL ASSESSMENT COLLECTIONS
It is the City's policy to offset any property taxes not received
with an equal allowance for uncollectible amounts. Therefore, any delinq-
uent taxes, or unremitted current taxes are not recognized as revenue
until received in cash, and are used to finance the budget in the year
in which they are received.
SPECIAL REVENUE FUNDS
The Municipal State -Aid Street Fund was established to receive
gasoline tax apportionments from the state which are used to construct
and maintain state -aid streets. In 1977, apportionments and interest
earnings of $165,188 were received, and $57,576 was transferred to the
General Fund to close out the maintenance portion of the State -Aid Fund.
In 1978 and future years the maintenance apportionment will go directly
to the General Fund as the expenditures for such maintenance are re-
corded in the Street Department of the General Fund and no attempt is
made to distinquish the costs by type of street maintained. The fund
balance, now dedicated to construction of state -aid streets, at December
31, 1977 is $193,304.
CITY OF COLUMBIA HEIGHTS, MINNESOTA zv
ANNUAL FINANCIAL REPORT
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The Revenue Sharing Fund was established to account for the receipt
and expenditure of federal general revenue sharing funds. Revenue Sharing
was enacted in 1972, and covered the period from January 1, 1972 to
December 31, 1976. The 1976 federal amendments to the law authorized
additional appropriations to cover the period from January 1, 1977 to
September 30, 1980. The following table reflects the use of Revenue
Sharing through December 31, 1977:
Revenue Sharing Interest Capital Fund Balance
Revenue Earnings Total Projects Operations Total Year End
1972 $120,859 $ - $120,859 $ - $ - $ - $120,859
1973 140,575, 9,202 149,777 110,239 14,606 124,845 145,791
1974 144,256 12,834 157,090 145,830 4,158 149,988 152,893
1975 154,036 11,530 165,566 187,572 30,488 218,060 100,399
1976 157,339 10,907 168,246 158,164 68,528 226,692 41,953
1977 159,482 6,257 165,739 108,928 25,478 134,406 73,286
In 1978 it is estimated that the City will receive $178,000 in revenue
sharing payments and $6,000 interest earnings. The adopted 1978 budget in-
cludes $17,000 for general operations and $148,935 for capital projects,
leaving an estimated fund balance of $75,396 as of December 31, 1978•
The Anti- Recession Fund was established in 1976 to account for the receipt
and disbursement of monies received due to enactment of the Public Works Em-
ployment act of 1976, Title II. The City received payments of $17,730 in 1976
and $20,989 in 1977. The monies were applied to salaries for patrolmen in
both years.
The C.E.T.A. Funds in 1977 recorded employment of people under three
programs - C.E.T.A., C.E.T.A. Title II and C.E.T.A. Special Projects.
A total of $220,331 was received to fund these activities.
The Recreation Fund is funded and directed in co- operation with Inde-
pendent School District No. 13. through a five member board. The activity
of this fund covers year round recreation programs in the schools, city parks
and outside the community. In 1977 expenditures of $123,559 exceeded revenues
by $293 and decreased the fund balance to $1,996.
ENTERPRISE FUNDS
Liquor Operation
Total sales were $1,034,928, a decline from 1976 of $66,506. Total net
income was $32,792 an increase of $4,140 from 1976. All locations showed a
profit except Store No. 1 which was was closed February 28, 1977 with a loss
of $7,522• Sales at Store No. 2 increased 32.3% over 1976, picking up some
of the sales lost from the closing of No. 1. No transfer of liquor profits
was made in 1977; in 1976, $85,000 was appropriated to the General Fund.
CITY OF COLUMBIA HEIGHTS, MINNESOTA v
ANNUAL FINANCIAL REPORT
Water Utility
The Water Utility Fund had a net income of $38,099 in 1977 compared
to a net income of $134,645 in 1976. Income was lower because of a de-
crease in usage in 1977 from 1976 (86,190,300 vs 98,161,300 Cu. Ft.) and
the cost of water purchased increased 14.3% which was not reflected in
utility rates until December 1, 1977. In addition, the fund transferred
$38,597 to Debt Service Funds and expended $17,301 for Capital Outlay.
Sewer Utility
Pursuant to state law the Metropolitan Waste Control Commission (MWCC),
as of January 1, 1971, assumed ownership of all existing interceptors and
treatment works needed to implement a comprehensive plan for the collection,
treatment and disposal of sewage in the seven county metropolitan area.
Under terms of the law, the Commission is obligated to reimburse each local
government for the current value cost of facilities acquired. The purchase
price of the assets acquired by them was based on the depreciated replace-
ment cost of December 31, 1970. On that date, the purchase price was
determined to be $400,533. Payment of the purchase price is (scheduled
over a period of 30 years with interest accruing at 4% per year) by means
of an offset against the annual sewer service billings from the Metro-
politan Waste Control Commission. Each year a credit is received on the
billing for this payment, totaling $22,272, of which $13,351 is principal
and $8,921 is interest. At year end 1977 $307,073 remains in principal
due on the assets acquired by the MWCC and is reflected on the balance
sheet, Form H, as a deferred asset.
In addition to the reimbursement for cost of facilities, the act
empowers the Commission to defer certain reserve capacity costs when they
are disproportionate to the economic resources of the local government
unit involved. These costs are then allocated to all participating comm-
unities upon the basis of population and assessed valuations. The pro-
visions of deferment, essentially are designed to provide temporary
economic relief to the governmental unit affected by the act, and are
repayable. In 1971 and 1972 the City was assessed $44,522. In 1973 it
was determined that these costs would be recovered, and the deferred
receivable was set up. Payments were received as follows:
These payments leave a principal balance of $36,830 which is also re-
flected as a deferred asset on the balance sheet.
CITY OF COLUMBIA HEIGHTS, MINNESOTA VI
ANNUAL FINANCIAL REPORT
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Principal
Interest
Total
1974
$ 761
$ 2,475
$ 3,236
1975
2,442
2,041
4,483
1976
3,222
1,464
4,686
1977
1,266
1,557
2,823
$7,761
$ 7,537
$15,22
These payments leave a principal balance of $36,830 which is also re-
flected as a deferred asset on the balance sheet.
CITY OF COLUMBIA HEIGHTS, MINNESOTA VI
ANNUAL FINANCIAL REPORT
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The Sewer Utility Fund had a net income of $56,275 in 1977 compared to
a net income of $98,540 in 1976, due to an increase in Metro Waste Control
Commission disposal charges and a decrease in revenue because of less water
usage.
In 1977 $260,000 was appropriated for a large construction project
(Fifth Street Storm Sewer) which has been pending for several years and should
reduce the City's sanitary sewer flow volume. Additionally $46,043 was app-
ropriated for other projects and $30,000 was transferred to Debt Service Funds.
CAPITAL PROJECT FUNDS - SPECIAL ASSESSMENT BONDS
In 1977 five projects constructed at a cost of $223,675 were completed
and assessed. Also in 1977 the Fifth Street Storm Sewer project was author-
ized at $511,600 and will be funded in part by a $91,000 EDA Grant, a $260,000
appropriation from the Sewer Utility Fund, and $30,000 of State -Aid.
DEBT SERVICE FUNDS - GENERAL OBLIGATION BONDS
During 1977, scheduled bond maturities of $220,000 were paid along with
$81,498 in matured interest. There are $1,900,000 General Obligation bonds
outstanding as of December 31, 1977.
Of the $350,075 deferred tax levies scheduled for collection in 1977,
$127,075 was,cancelled. A tax levy of $223,000 was made and 99.0% of the levy -.
was collected in 1977.
CENTRAL GARAGE FUND
The ;Central Garage Fund was established in 1977 to record expenses of
the service shop and to allocate such cost to the using departments. It is
intended to maintain this fund on.a self- sustaining basis. The first year
of operating resulted in a $1,003 profit.
TRUST AND AGENCY FUNDS
Investment Trust Fund
The Investment Trust Fund was created in 1974 to record all investment
transactions except direct investments of temporary bonds of the City pur-
chased by other funds. Interest earnings from these investments are allocated
to all funds of the City, except construction accounts and the trust and agency
funds, on the basis of the average cash balances during the year. Investment
principal at December 31, at book value, is also allocated to the individual
funds. The allocation of interest earnings to December 31, includes accrued
interest receivable, which results in a cash overdraft in the fund of a like
amount.
CITY OF COLUMBIA HEIGHTS, MINNESOTA Vii ANNUAL FINANCIAL REPORT
Based on month end statistics, an average of 100% of total cash for all
funds was invested throughout the year, but interest rates were down and the
opportunity for gain by switching investment dried up. Interest earnings for
the past four years is as follows:
1974 $ 101,498
1975 $ 87,612
1976 $ 121,051
1977 $ 114,186
CITY OF COLUMBIA HEIGHTS, MINNESOTA VIII ANNUAL FINANCIAL REPORT
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I would like to thank your office and the members of the City
Council for their interest and support in planning and conducting
the financial operations of the City. ?he preparation of this report
on a timely basis could not be accomplished without the efficient
and dedicated services of the entire staff of the Finance Department.
Special recognition should be given to Robert J. Kolb, City Accountant
who assisted in preparing this report; to Jackie, Karen, Laurie, and
Cindy for their precise typing of this document.
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Respectfully submitted,
i�
John E. Schedler
Finance Director
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ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
FINANCIAL SECTIOA,
TABLE OF CONTENTS
Auditor's Opinion
Notes to Financial Statements
Page
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
546 -2566
The City Council of Columbia Heights
Columbia Heights, Minnesota
We have examined the accompanying financial statements of the various funds
of the City of Columbia Heights for the year ended December 31, 1977, shown
on Pages 1 through 81. Our examination was made in accordance with generally
accepted auditing standards, and accordingly included such tests of the
accounting records and such other auditing procedures as we considered neces-
sary in the circumstances.
The City has not maintained a record of its general fixed assets or Utility
Fund property and equipment, and accordingly these items are not included in
the financial report as required by generally accepted accounting principles.
No depreciation has been recorded on the Utility Fund's property and equipment.
The amount by which the financial statements would change if these items were
included cannot be determined.
The City's financial statements do not include a statement of general long -term
debt as required by generally accepted accounting principles. All general
long -term debt is included in the general debt service funds.
In our opinion the accompanying financial statements, other than the items
referred to in the preceding paragraphs, present fairly the financial position
of the various funds of the City of Columbia Heights at December 31, 1977 and
the results of operations of such funds and the changes in financial position
of the enterprise funds for the year then ended, in conformity with generally
accepted accounting principles applied on a basis consistent with that of the
preceding year.
"Xg� ��,
April 25, 1978
NOTES TO FINANCIAL STATEMENTS
Note 1: SUMMARY OF SIGNIFICANT ACCOUNT POLICIES
Basic of Accounting. The modified accrual basis of accounting
is followed by all budgetary funds and trust and agency funds,
except the Investment Trust Fund. All other funds are on an
accrual basis of accounting, except that capital project funds
encumber uncompleted contracts.
Budgetary Accounting. Section 62 of the City Charter requires
an annual budget. Budget revisions are authorized by the City
Council in accordance with the city charter at the request of
the City Manager. The accompanying statements of revenue and
expenditures compared with budget estimates reflect these re-
visions, if any. All appropriations lapse at the end of the
budget year to the extent that they have not been expended or
lawfully encumbered.
Pooled Cash and Investments. The funds of the city are pooled
into official depositories not identified with any particular fund.
Idle funds not needed for current operations are invested from, and
accounted for, in the Investment Trust Fund through a cash over-
draft account. Investments are stated at amortized cost, which
approximates market.
The city distributes investment earnings according to the
policies established in 1974 when the Investment Trust Fund
was established. Interest earnings from these investments
are allocated to all funds of the city except Capital Project
funds and certain trust and agency funds on the basis of the
average cash balances during the year. Investment principal at
December 31, at amortized cost, is also allocated to the individual
funds. The allocation of interest earnings at December 31, in-
cludes accrued interest receivable, which results in a cash
overdraft in the fund of a like amount.
Receivables. Current taxes are accrued with an allowance for
uncollectible amounts equal to 2 %. At year end actual uncol-
lected current taxes are transferred to delinquent taxes and an
offsetting adjustment is made to the uncollectible amounts.
Delinquent taxes are recognized as revenue when received in cash.
All other receivables have historically never been in default,
and therefore, no allowance has been provided.
Sales and income are recognized at various times: Liquor sales
are recognized at the time of sale; Utility sales are recognized
when billed with an accrual at year end for unbilled services;
Miscellaneous accounts receivable are recognized when billed.
See also Note 7.
CITY OF COLUMBIA HEIGHTS, MINNESOTA 1 ANNUAL FINANCIAL REPORT
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Fixed Assets. All assets are recorded at historical cost,
estimated historical cost, if the original cost is not
available.
Fixed assets acquired through the Liquor fund are capitalized
when purchased and depriciated using the straight -line method
over their estimated useful life.
In the Enterprise funds, depreciation is not recorded on fixed
assets which have been specially assessed.
Taxes. The county remits tax collections in a manner that
identifies each fund which levied the taxes except the debt
service levy. A prorated basis determined by the ratio of each
debt service levy to the total debt service levy is used to
allocate the current and the delinquent taxes received. The
total levy less the debt service levy is the basis for prorating
the receipt of the Homestead Credit from the State of Minnesota.
Note 2: The city has a liability as of December 31, 1977, for earned
but unused vacation leave of approximately $82,260 (10,449
hours) which is payable when used or when termination occurs.
In addition, there is a contingent liability for unused sick
leave earned, approximately $373,565 (44,192 hours) which would
be payable in the event sickness occurred or upon termination,
1/3 of earned sick leave (maximum 40 days) would be paid.
Additionally, after an employee has accumulated the maximum of
120 days, 1/2 of the excess sick leave shall be granted as
additional vacation leave at the end of each year. These
liabilities are stated at the 1978 rate of pay and are not
recorded as liabilities in the individual fund balance sheets.
Note 3: The Columbia Heights Police Relief Association provides a
pension plan for all sworn police officers hired prior to June
15, 1972. The Columbia Heights Fire Department Relief Association
provides a pension plan for all regular fire fighters hired
prior to December 31, 1974 and all volunteer firefighters. All
public safety employees hired after aforementioned dates, under
Minn. Stat. Chapter 374, are covered by Public Employees, Police
and Fire Fund [a special fund of the Public Employees Retire-
ment Association (PERA)].
Prior to the 1969 Relief Association Guidelines Act (State Law)
the city contributions were made without regard to acturial re-
quirements, resulting in a substantial deficiency in the accum-
ulation of reserves on a acturial basis. This deferred obligation
is not reflected in the General Fund balance sheet.
CITY OF COLUMBIA HEIGHTS, MINNESOTA
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ANNUAL FINANCIAL REPORT
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
The following schedule of accrued liabilities was obtained from
the latest actuarial surveys dated December 31, 1976:
Unfunded
Funded Accrued Accrued
Reserves Liability Liability
Police Relief Association $552,579 $1,126,076 $1,678,655
Fire Department Relief
Association $613,100 $ 369,332 $ 982,422
The city's contribution to the Police Relief Association was
$66,300 for the year ending December 31, 1977, while the city's
contribution to the Fire Department Relief Association was
$47,000 for the same period.
The city participates in a contributory pension plan under the
Public Employees Retirement Association (PERA), Minn. Stat.
Chapter 353, which covers substantially all employees except
those qualifying as temporary or seasonal employees or those
public safety police and fire personnel covered by the relief
associations. The city's contribution is a percent of salary
which is determined by the particular plan to which each in-
dividual belongs. The city's contribution for the coordinated
plan (PERA and Social Security) to PERA is equal to 5.5% of the
total salary of each individual (Employee share 4 %). For the
basic plan, the city's contribution is equal to 10.5% of each
individual's salary (Employee share 8 %). For the police and
fire fund, the city's contribution is 12% of each individual's
salary (Employee share 8 %). The pension cost including
amortization of estimated prior service cost was $119,156 for
the period ended December 31, 1977. It is state law that the
city fund this pension cost as it accrues. Prior service cost
is being amortized over a period of 40 years and is being funded
as a percent of gross wages by all employers participating in the
state association. The amount of unfunded prior service cost
attributable to individual reporting entities is not determinable.
The city's contribution to the Federal Insurance Corporation of
America (Social Security) for those individuals belonging to the
coordinated plan is equal to 5.85% of the first $16,500 in 1977•
The contribution to Social Security was $44,247 for the year
ended December 31, 1977. In 1978, the Social Security contri-
bution will be based on the same rates as above, but the maxi-
mum contribution will be based on the first $17,000.
CITY OF COLUMBIA HEIGHTS, MINNESOTA
3
ANNUAL FINANCIAL REPORT
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Note 4: All ad valorem levies for both Permanent Improvement Revolv-
ing Fund Bonds issues have been cancelled to date, and sufficient
cash has been transferred from the P.I.R. Fund which collects
all special assessments.
The resolution authorizing sale of the Water Bonds makes the
following provision: "That the City will impose and collect
charges for the service, use and availability of its municipal
water system at the times and in the amounts required to produce,
as a primary source of payment, net revenues at least 5% in excess
of all principal and interest when due on bonds of this issue;
that in and by said resoultion the City has covenanted and agreed
to levy a direct, annual, irrepealable, ad valorem tax upon all of
the taxable property in said City, if necessary for the payment
of such principal and interest; and that this bond together with
all other indebtedness of the City outstanding on the date hereof,
and on the date of its actual issuance and delivery, does not
exceed any constitutional, statutory or charter limitation of
indebtedness.
No ad valorem levies have been made for the State -Aid Street
bonds, however the City Council has irrevocably pledged and
appropriated to the sinking fund from which bonds of this issue
are payable an amount of the moneys allotted and to be allotted
to the City from its account in the Municipal State -Aid Street
Fund of the State of Minnesota sufficient to pay the principal
of and interest on all bonds of this issue when due; and that
if any year the moneys so allotted and transferred to the sinking
fund should be insufficient to pay all such principal and interest
due in the following year the City is obligated to levy a direct,
irrepealable, ad valorem tax upon all taxable property within
its corporate limits.
Approximately 25% of the ad valorem levies for the remaining
four General obligation issues were cancelled in 1977 because
of cash transfers from utility funds, and the City of Hilltop,
interest earnings and /or sufficient sinking fund balances.
CITY OF COLUMBIA HEIGHTS, MINNESOTA
4
ANNUAL FINANCIAL REPORT
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Note 5: The statement of Operating Expenses of the Sewer Utility Fund
reflects the sewage disposal charges as billed by the Metro-
politan Waste Control Commission (MWCC) with an adjustment for
actual flowages and operating costs that are determined in the
subsequent year, and added to or deducted from the MWCC bill
two years after the end of the fiscal year. The 1976 adjust-
ment on the 1978 billing will be a $4,773 increase and the
1977 adjustment on the 1979 billing will be a $38,446 deduction.
The balance sheet of the Sewer Utility Fund reflects these
adjustments for 1976 and 1977 as deferred liabilities /assets:
due to /from the MWCC- operating cost adjustment. On a full
accrual basis, the total treatment charges to the MWCC were
$262,264 for 1977 and $260,180 for 1976.
Note 6: The City had the usual and customary types of miscellaneous
claims pending at year -end, mostly of a minor nature and usually
all covered by insurance carried for that purpose.
Note 7: The Municipal Liquor Fund received a $7,859 settlement from a
class action liquor anti -trust case which was settled in late
1974. The city's portion is to be received in five equal pay-
ments over the years 1975 through 1979 and are to be paid on or
before December 31 of each year. The balance sheet, Form F,
reflects the last two payments due in 1978 and 1979 totaling
$3,143•
CITY OF COLUMBIA HEIGHTS, MINNESOTA
5 ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
COMBINED STATEMEITS - ALL FUNDS
The Combined Balance Sheet - All Funds, Form A, is presented
to give an overview of the city's major aspects of financial
condition and operations. It is emphasized that the figures
contained in this statement are a combination of unlike pur-
pose groups (funds) and should not be construed as indicative
of the over -all financial position of the city. The financial
condition and results of operation of each fund should be de-
termined by reference to the financial statements for individual
funds.
TABLE OF CONTENTS
See also the notes to Financial Statements and Financial State-
ments for Individual Funds.
Page
Combined Balance Sheet - All Funds
Form
A
6
Combined Statement of Cash Receipts and
Disbursements - -All Funds
Form
A -1
10
Statement of Cash and Security for Deposit
Form
A -2
12
Statement of Investments
Form
A -3
14
Combined Schedule of Bonds Payable
Form
A -4
16
See also the notes to Financial Statements and Financial State-
ments for Individual Funds.
COMBINED BALANCE SHEET - ALL FUNDS
December 31, 1977
ASSETS AND OTHER DEBITS
Cash:
Treasurer's balance (deficit) -- Form A -1
Imprest cash and change funds
Deposited with fiscal agents
Investments .(at cost) -- Forms A -1 and 3
Special assessments receivable
Accounts receivable
Unbilled accounts receivable
Accrued interest receivable
Due from other funds
Due from other governmental agencies
Inventories
Prepaid expenses
Restricted assets:
Cash - Treasurer's balance -- Form A -1
Deposited with fiscal agents
Investments -- Forms A -1 and 3
Deferred Assets:
Accounts receivable
Contracts receivable
Special assessments receivable
Taxes receivable
Land
Buildings (net)
Improvements other than buildings (net)
Fixtures
Equipment
Store
Office
Total Assets and Other Debits
( CITY OF COLUMBIA HEIGHTS, MINNESOTA
O
Special Capital
General Project Project
Fund Funds Funds
S 1,779
1,075
822,276
62,424
5,606
$893,160
(Form B)
$ (21,404) $ 1,851
50
95,000 368,000
241,258
108,000
440,430
$ 314,904 $918,281
(Form C) (Form D)
ANNUAL FINANCIAL REPORT
[ CITY OF COLUMBIA HEIGHTS, MINNESOTA
Form A
7 ANNUAL FINANCIAL REPORT
Capital
Project
Funds
General
Central
Trust and
Special
Debt
Enterprise
Garage
Agency
Assessment
Service
Funds
Fund
Funds
Bonds
Funds
$ 1,542
$ 59
$ (14,825)
$ (1,481)
$ 2,114
10,100
64,415
274,523
198,450
9,000
306,000
9,695
90,411
11,077
8
500
202,845
14,325
151,000
37,525
23,629
104,103
27,345
549
96
27,575
9,000
38,402
307,073
388,481
316,010
1,895,277
16,735
104,950
22,546
9,535
9,577
815
$1,,084,665
$27,412
$ -
$904,361
$2,652,543
(Form E)
(Form 1)
(Form J)
(Form K)
(Form L)
[ CITY OF COLUMBIA HEIGHTS, MINNESOTA
Form A
7 ANNUAL FINANCIAL REPORT
COMBINED BALANCE SHEET - ALL FUNDS (CONTINUED)
December 31, 1977
LIABILITIES AND OTHER CREDITS
Accounts payable
Accrued salaries payable
Matured bonds and ,interest payable
Contracts payable
Due to other funds
Due to other governmental agencies
Revenues collected in advance
Bonds payable -- Form A -4
Deposits
Deferred Credit
Total Liabilities and Other Credits
RESERVE AND FUND BALANCES/
RETAINED EARNINGS
Reserves:
Encumbrances
Sur Tax -tower construction
General debt service
Contributions:
Municipality
Fund Balance:
Appropriated
Unappropriated
Future interest on bonds
Retained earnings
Total Liabilities, Reserves and
Fund Balances /Retained Earnings
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Special Capital
General Revenue Project
Fund Funds Funds
$ 9,810
9,284
323
728
4,950
$ 5,653
8,375
$ 910
511,453
108,000
$ 25,095
$
14,028
$620,363
$ 4,237
$
1,519
$ -
34,483
829,345
$893,160
(Form B)
6.*
299,357 297,918
$314,904 $918,281
(Form C) (Form D)
ANNUAL FINANCIAL REPORT
Central Trust and
Enterprise Garage Agency
Funds Fund Funds
Capital
Project
Funds
Special
&ccaccmant
Fo rm A
General
Debt
Service
Funds
$ 55,944
$ 3,442 $ -
$ 275 $ -
5,744
873
27,575
64,415 274,523
12,974
69,659
66,000
85,000
5,349
94
50,000
345,000 1,900,000
8,511
307,073
$ 530,659
$ 4,409 $ -
$572,860 $2,174,523
166,007
(40,904)
22,000
301,526
29,975
428,903 1,003
$1,084,665 $ 27,412 $ - $904,361
(Form E) (Form 1) (Form J) (Form K)
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
G
195,357
282,663
$2,652,543
(Form L)
ANNUAL FINANCIAL REPORT
COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS - -ALL FUNDS
For the Year Ended December 31, 1977
Balance, January 1, 1977
Treasurer's
General Fund
$ 22,257
$ 561,518
$ 583,775
Special revenue funds:
Municipal State -Aid Street
48,015
48,015
Recreation
2,323
2,323
Civil Defense
13,219
13,219
Revenue Sharing
6,108
150,000
156,108
Anti- Recession Aid
C.E.T.A.
(8,834)
(8,834)
Capital project funds:
23,306
575,000
598,306
Enterprise funds:
Municipal Liquor
26,327
26,327
Water Utility:
Operating
1,745
50,000
51,745
Water debt service
5,928
23,000
28,928
Sewer Utility
4,004
332,450
336,454
Intra - governmental service funds:
Permanent Improvement Revolving Fund:
Financing
(123,455)
(123,455)
Debt Service
124,481
7,000
131,481
Central Garage
-
Trust and agency funds:
(18,224)
(18,224)
General debt service
54,014
345,000
399,014
Grand Totals
$ 181,214
$2,043;968
$21225,182
CITY OF COLUMBIA HEIGHTS, MINNESOTA
a
ANNUAL FINANCIAL REPORT
Form A -1
Total Balance December 31, 1977
Transfers Available Disburse- Transfers Treasurer's
Receipts In Cash ments Out Total Cash Investments
$2,774, -889 $ 57,576 $3,416,240 $2,510,002 $ 81,108 $ 825,130 $ 2,854 $ 822,276
71,831
119,846
32,931
57,576
29,339
339
29,000
68,821 54,417
125,561
123,560
144,702
2,001
2,001
125,589
45,341
58,560
30,052
155
28,353
353
28,000
158,752
314,860
246,109
30,050
38,701
701
38,000
20,989
20,989
20,989
308,114
2,114
306,000
$6,472,229
201,077
192,243
216,991
$ 1,788,682
(24,748)(24,748)
$ 1,807,726
23,306 157,481
779,093
301,242
108,000
369,851
1,851
368,000
1,089,106
1,115,433
1,002,774
112,659
10,659
102,000
541,086
592,831
490,928
23,507
78,396
396
78,000
1,096 6,682
36,706
27,610
9,096
96
9,000
475,625
812,079
455,239
337,803
19,037
587
18,450
398,891
295,043
570,479
609,662 98,000
(137,183)(137,183)
56,105
98,000
285,586
140,884
144,702
135,702
9,000
125,589
22,000
147,589
147,530
59
59
157,559
139,335
154,160
(14,825)
(14,825)
262,166
45,000
706,180
398,066
308,114
2,114
306,000
$6,472,229
$736,199
$9,433,610
$6,908,729 $736,199
$ 1,788,682
$(19,044)
$ 1,807,726
(Form A -3)
Balances Classified by Depository:
Imprest Cash and Change Funds
Marquette State Bank of
Columbia Heights
Twin City Federal
Home Federal Savings
Total
CITY OF COLUMBIA HEIGHTS, MINNESOTA
$ 11,225
(231,321)
100,000
101,052
$ (19,044)
ANNUAL FINANCIAL REPORT
STATEMENT OF CASH AND SECURITY FOR DEPOSIT
December 31, 1977
MARQUETTE
STATE BANK OF
COLUMBIA HEIGHTS
THIRD
NORTHWESTERN
NATIONAL BANK
SECURITY FOR DEPOSIT
U.S. Treasury Notes $ 200,000 $ -
Federal Home Loan Bank 68,000
State Bonds 100,000 200,000
Municipal Bonds 185,000 150,000
Total $ 553,000 $ 350,000
90% of security applicable to pledge 497,700 315,000
requirement
F.D.I.C. and S.L.I.C. 100,000 100,000
Total Security $ 597,700 $ 415,000
BANK BALANCE
General account $ 171,239
Payroll account 82,120
Daily interest saving accounts
Total Cash Applicable to Security $ 253,359
Bank balance - General and payroll accounts $ 253,359
Add:
Deposits in transit - General 33,029
Correct errors 17
Deduct:
Outstanding checks
General $ 435,588
Payroll 82,138 517,726
Book Balance $ (231,321)
krorm i-\- i
( CITY OF COLUMBIA HEIGHTS, MINNESOTA 12 ANNUAL FINANCIAL REPORT
FIDELITY BANK
AND TRUST CO.
TWIN CITY HOME FEDERAL
FEDERAL SAVINGS-
FIRST
BROOKDALE
STATE BANK
Form A-2
TOTAL
$ - $ -
$ -
$ -
$ 812,700
100,000 100,000
100,000
100,000
600,000
$1001000 $1001000
$1001000
$100,000
$1,412,700
$ -
$ -
$ -
$ 171,239
-- Form D
1,851
Enterprise Funds -- Form
82,120
100,000
101,052
50,000
251,052
$100,000
$101,052
4 50,000 (A)
$ 504,411
100,000
101,052
Assessment Bonds --
454,411
$100,000
$101,052
(Form A -1)
(Form A -1)
Bank Balance by Funds
General Fund -- Form B
$
1,779
Special Revenue Funds
-- Form C
(21,404)
Capital Project Funds
-- Form D
1,851
Enterprise Funds -- Form
E
1,638
Central Garage Fund --
Form 1
59
Trust and Agency Funds
-- Form J
(14,825)
Capital Project Funds
- Special
Assessment Bonds --
Form K
(1,481)
General Debt Service --
Form L
2,114
Total Treasurer's
Cash $
(30,269)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
13
33,029
17
517,726
r /sn IKON
(A) Performance bond
for garbage service
contract - Dick's
Sanitary Service, Inc.
ANNUAL FINANCIAL REPORT
STATEMENT OF INVESTMENTS
December 31, 1977
' CITY OF COLUMBIA HEIGHTS, MINNESOTA
14
:I:
ANNUAL FINANCIAL REPORT
Date
Maturity
Par
Yield
Acquired
Date
Value
Federal Intermediate Credit Bank
5.18
5 -2 -77
1 -3 -78
$ 200,000
U. S. Treasury Bills
5.68
7 -18 -77
2 -7 -78
100,000
U. S. Treasury Bills
6.63
11 -17 -77
5-18-78
100,000
U. S. Treasury Notes
5.26
12 -20 -76
11 -30 -78
1,200,000
City of Columbia Heights Bonds
Storm Sewer of 1965
4.83
10 -1 -69
1 -1 -84
10,000
Ginny Mae
7.58
3 -23 -77
3 -1 -06
198,155
' CITY OF COLUMBIA HEIGHTS, MINNESOTA
14
:I:
ANNUAL FINANCIAL REPORT
Unamortized Unamortized
Discount Premium
575
2,423
3MFO
2,550
$ 5,548 $ 5,119
Book
Value
$ 200,000
99,425
97,577
1,205,119
7,450
198,155
$ 1,807,726
CITY OF COLUMBIA HEIGHTS, MINNESOTA
a
Summary By Fund
General Fund -
Form B
Special Revenue Funds -
Form C
Capital Project Funds -
Form D
Enterprise Funds -
Form E
Operations
Restricted Assets
Capital Project Funds -
Special Assessment
Bonds -
Form K
General Debt Service
Funds - Form L
Form A -3
$ 822,276
95,000
368,000
198,450
9,000
9,000
306,000
$ 1,807,726
(Schedule A -1)
ANNUAL FINANCIAL REPORT
COMBINED SCHEDULE OF BONDS PAYABLE
December 31, 1977
SPECIAL ASSESSMENT BONDS PAYABLE:
Permanent Improvement Revolving Bonds of 1969
Non - Callable
Total P.I.R. Bonds of 1969
Permanent Improvement Revolving Bonds of 1972
Non - Callable
Total P.I.R. Bonds of 1972
Total Special Assessment Bonds Payable
GENERAL OBLIGATION BONDS:
Water Bonds of 1965
All Callable after January 1, 1975 in
inverse order at par and accrued
interest plus a premium of $50 per bond
Total Water Bonds of 1965
Park Bonds of 1962
Non - Callable
Total Park Bonds of 1962
Storm Sewer Bonds of 1965
All Callable after January 1, 1980 in
inverse order at par and accrued
interest plus a premium of $50 per bond
Total Storm Sewer Bonds of 1965
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Interest
Rates and
Dates
6.00% 2/1 - 8/1
3.900 1/1 - 7/1
4.00%
4.10%
4.20%
4.30%
3.40% 1/1 - 7/1
3.50%
3.50% 2/1 - 8/1
3.40% 1/1 - 7/1
3.50%
3.50%
3.50%
3.60%
3.60%
3.600
Final
Issue Maturity
Date Date
11 -1 -69 2 -1 -79
7 -1 -72 1 -1 -83
10 -1 -65 1 -1 -80
2 -1 -62 2 -1 -79
10 -1 -65 1 -1 -85
ANNUAL FINANCIAL REPORT
Form A -4
Annual
Authorized
Serial
and
Payments
Issued
Matured
Outstanding
$ -
$520,000
$520,000
$ -
70,000(78 -79)
140,000
140,000
$660,000
$520,000
$140,000
$ _
$250,000
$250,000
$ -
50,000(78)
50,000
50,000
50,000(79)
50,000
50,000
50,000(80)
50,000
50,000
50,000(81)
50,000
50,000
5,000(82)
5,000
5,000
$455,000
$250,000
$205,000
$345,000
$ _
$210,000
$210,000
$ -
25,000(78)
25,000
25,000
25,000(79)
25,000
25,000
$260,000
$210,000
$ 50,000
$ -
$265,000
$265,000
$ -
30,000(78 -79)
60,000
60,000
$325,000
$265,000
$ 60,000
$ _
$270,000
$270,000
$ -
45,000(78)
45,000
45,000
45,000(79)
45,000
45,000
85,000(80)
85,000
85,000
95,000(81)
95,000
95,000
105,000(82)
105,000
105,000
130,000(83)
130,000
130,000
140,000(84)
140,000
140,000
$915,000
$270,000
$645,000
CITY OF COLUMBIA HEIGHTS, MINNESOTA 17 ANNUAL FINANCIAL REPORT
COMBINED SCHEDULE OF BONDS PAYABLE
December 31, 1977
Interest
Rates and
Dates
GENERAL OBLIGATION BONDS (Continued):
State -Aid Bonds of 1969
Non - Callable 4.600 2/1 - 8/1
Total State -Aid Bonds of 1969
City Garage Bonds of 1972
Non - Callable 3.90% 1/1 - 7/1
4.00%
4.10%
4.20%
4.30%
Total City Garage Bonds of 1972
Capital Improvement Bonds of 1976
Non - Callable 3.75% 4/1 - 10 /1
4.00%
4.15%
4.30%
4.45
4.60%
Total Capital Improvements Bonds of 1976
Total General Obligation Bonds
Total Bonds Payable - All Funds
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Final
Issue Maturity
Date, Date
2 -1 -69 2 -1 -79
7 -1 -72 1 -1 -83
4 -1 -76 10 -1 -83
ANNUAL FINANCIAL REPORT
Form A -4
Annual
Authorized
Serial
and
Payments
Issued
Matured
Outstanding
$ -
$ 80,000
$ 80,000
$ -
10,000(78 -79)
20,000
20,000
$ 100,000
$ 80,000
$ 20,000
$ -
$ 250,000
$250,000
$ -
50,000(78)
50,000
50,000
50,000(79)
50,000
50,000
50,000(80)
50,000
50,000
50,000(81)
50,000
50,000
60,000(82)
60,000
60,000
$ 510,000
$250,000
$ 260,000
$ -
$ 105,000
$105,000
$ -
150,000(78)
150,000
150,000
150,000(79)
150,000
150,000
150,000(80)
150,000
150,000
175,000(81)
175,000
175,000
175,000(82)
175,000
175,000
115,000(83)
115,000
115,000
$1,020,000
$105,000
$ 915,000
$1,950,000
$2,295,000
CITY OF COLUMBIA HEIGHTS,
MINNESOTA
19
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
GENERAL FUND
The Home Rule Charter of the City of Columbia Heights provides
in Section 69 Subdivision (c): ''A General Fund for the support
of such other funds and for the payment of such expenses of the
city as the council may deem proper. Into this fund shall be
paid all moneys not herein provided to paid (sic) into any other
fund."
TABLE OF CONTENTS
Financial Statements:
Page.
Comparative Balance Sheet Form B 20
Comparative Statement of Changes in
Fund Balance Form B -1 21
Statement of Revenue - Estimated and
Actual Form B -2 22
Statement of Expenditures and Encumbrances
Compared with Authorizations Form B -3 24
See also the Notes to Financial Statements.
Form B
GENERAL FUND
COMPARATIVE BALANCE SHEET
December 31, 1977 and 1976
ASSETS
1977
1976
Current Assets:
Cash:
Treasurer's balance
$
1,779
$
21,482
Imprest cash and change funds
1,075
775
Total Cash -- Form A -1
$
2,F5+
$
22,257
Investments (at cost) -- Form A -3
822,276
561,518
Taxes receivable -- delinquent
52,708
57,924
Less: Allowance for uncollectible taxes
(52,708)
(57,924)
Special assessments receivable - Delinquent
231
Accounts receivable:
Unbilled services
47,357
44,301
Other
15,067
8,684
Prepaid insurance
5,606
Total Assets
$
893,160
$
636,991
LIABILITIES, RESERVES AND FUND BALANCE
Current Liabilities:
Accounts payable
$
9,810
$
22,804
Accrued salaries payable
9,284
10,791
Accrued Social Security taxes payable
728
767
Contracts payable
323
Revenues collected in advance
4,950
3,875
Total Current Liabilities
$
25,095
$
38,237
Reserves:
Encumbrances 4,237 7,355
Fund Balance:
Appropriated 4,483
Unappropriated 829,345 591,399
Total Fund Balance -- Form B -1 $ 863,828 $ 591,399
Total Liabilities, Reserves and Fund Balance $ 893,160 $ 636,991
1 CITY OF COLUMBIA HEIGHTS, MINNESOTA 20
ANNUAL FINANCIAL REPORT
Form B -1
GENERAL FUND
COMPARATIVE STATEMENT OF CHANGES IN FUND BALANCE
For the Years Ended December 31, 1977 and 1976
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
21
ANNUAL FINANCIAL REPORT
1977
1976
Fund_Balance, January 1
$ 591,399
$
292,898
Add:
Excess of revenues over expenditures and
encumbrances for the year:
Revenues -- Form B -2
2,738,002
2,512,100
Less:
Expenditures and Encumbrances -- Form B -3
2,463,113
2,213,599
Excess
$ 274,889
$
298,501
Shop Inventory Sold to Central Garage
15,800
Total Balance and Additions
$ 882,088
$
591,399
Deduct:
Appropriation to Central Garage
18,260
Fund Balance, December 31 -- Form B
$ 863,828
$
591,399
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
21
ANNUAL FINANCIAL REPORT
Form B -2
GENERAL FUND
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
For the Year Ended December 31, 1977
Actual
Over
Estimated Actual (Under)
Revenue Revenue Estimate
General Property Taxes:
Current ad valorem
$ 886,944
$
876,272
$
(10,672)
Delinquent ad valorem
15,692
15,692
Penalties and Interest
2,000
3,210
1,210
Forfeited tax sale apportionments
599
599
Total General Property Taxes
$ 888,944
$
895,773
$
6,829
Licenses and Permits:
Business Regulatory Licenses
$ 17,200
$
25,708
$
8,508
Non - Business Licenses and Permits
32,200
45,520
13,320
Total Licenses and Permits
$ 49,400
$
71,228
$
21,828
Fines and Forfeitures:
Court Fines
$ 39,000
$
49,261
$
10,261
Other
1,000
1,145
145
Total Fines and Forfeitures
$ 40,000
$
50,406
$
10,406
Revenue from Use of Money and Property:
Interest Earnings --
Investment Trust Fund
$ 8,000
$
24,094
$
16,094
Rents
9,700
17,153
7,453
Interest -- Certify Special
Assessments
366
366
Total Revenue from Use of
Money and Property
$ 17,700
$
41,613
$
23,913
Revenue from Other Agencies:
Shared State Taxes:
Local Government Aid
$ 908,594
$
908,593
$
(1)
Property Tax Relief (Homestead)
295,400
295,596
196
Attached Machinery Aid
5,096
5,096
State Grant -- Shade Tree Aid
24,982
24,982
Other
2,103
2,103
Anoka County:
Street Maintenance
6,020
6,020
Silver Lake Beach
2,000
2,000
Total Revenue from Other
Agencies
$ 1,217,110
$
1,244,390
$
27,280
CITY OF COLUMBIA HEIGHTS, MINNESOTA
22
ANNUAL
FINANCIAL REPORT
Form B -2
GENERAL FUND
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL (CONTINUED)
For the Year Ended December 31, 1977
Actual
Over
Estimated Actual (Under)
Revenue Revenue Estimate
Other Revenue:
Sale of Property
$
40,000
$
44,320
$
4,320
Miscellaneous
1,210
2,222
1,012
Contributions
14,400
14,400
Total Other Revenue
$
41,210
$
60,942
$
19,732
Charges for Current Services:
General Government
$
1,600
$
2,850
$
1,250
Public Safety
16,575
21,499
4,924
Public Works
3,300
9,050
5,750
Library
2,000
2,154
154
Parks
4,200
6,309
2,109
Refuse Collection
260,000
255,449
(4,551)
Other
342
342
Total Charges for
Current Services
$
287,675
$
297,653
$
9,978
Expenditure Reimbursements:
Construction labor reimbursement
$
5,000
$
6,195
$
1,195
Equipment rental reimbursement
100
3,684
3,584
Other reimbursements
5,000
8,542
3,542
Total Expenditure
Reimbursements
$
10,100
$
18,421
$
8,321
Transfers In:
Liquor Fund
$
50,000
$
-
$
(50,000)
Municipal State Aid Street Fund
57,576
57,576
Total Transfers In
$
50,000
$
57,576
$
7,576
Grand Total
$
2,602,139
$
2,738,002
$
135,863
CITY OF COLUMBIA HEIGHTS, MINNESOTA
�3 ANNUAL FINANCIAL REPORT
Form B -3
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
For the Year Ended December 31, 1977
1977
Expenditures Unencumbered
Appropriations and (Overexpended)
(Revised) Encumbrances Balance
GENERAL GOVERNMENT:
Mayor and Council:
Personal services
$ 31,860
$
28,005
$ 3,855
Other services and
charges
33,250
27,028
6,222
(34)
Supplies
Total
400
$ 65,510
434
$ 10 3
$ 55,467
City Manager:
Personal services
$ 50,575
$
54,105
$ (3,530)
Other services and
charges
5,640
200
4,870
384
770
(184)
Supplies
Total
$ 5 15
$
59,359
$ 2,9
Finance - Clerk:
Personal services
$ 54,730
$
54,493
$ 237
Other services and
charges
19,070
15,759
3,311
(45)
Supplies
1,300
1,345
Total
$ 75,100
$
71,597
$ 3,503
Elections:
Personal services
$ 2,800
$
2,292
$ 508
Other services and
charges
800
1,800
872
1,187
(72)
613
Supplies
Total
$ 5,T_00
$ 4,351
$ 1,0 9
Assessing:
Personal services
$ 38,570
$
35,549
$ 3,021
Other services and
charges
2,125
1,945
180
Supplies
Total
1,000
$ 1, 95
$
477
37,971
523
$ 3,7�
Legal:
Other services and charges $ 43,700 $ 42,460 $ 1,240
Human Rights:
Other services and charges $ 1,200 $ 441 $ 759
1 CITY Of COLUMBIA HEIGHTS, MINNESOTA 24
ANNUAL FINANCIAL REPORT
Form B -3
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS (CONTINUED)
For the Year Ended December 31, 1977
I CITY OF COLUMBIA HEIGHTS, M[NNESOTA
25
ANNUAL FINANCIAL REPORT
1977
Expenditures
Unencumbered
Appropriations
and
(Overexpended)
(Revised)
Encumbrances
Balance
GENERAL GOVERNMENT (continued)
Planning:
Personal services
$ 17,475
$ 17,433
$ 42
Other services and charges
7,250
4,216
3,034
(124)
Supplies
1,685
1,809
Capital outlay
80
_ 82
(2)
Total
$ 26,490
$ 23,5
$ 2,950
General Government Buildings:
$ 9,260
$ 8,450
$ 810
Personal services
Other services and charges
31,700
28,896
2,804
Supplies
Total
5,350
$ 46,310
5,706
$ 43,052
(356)
$ 3,25
Total General Government
$ 361,820
$ 338,238
$ 23,582
PUBLIC SAFETY:
Police Protection:
Personal services
$ 503,830
$ 488,358
$ 15,472
Other services and charges
43,700
37,675
6,025
Supplies
23,800
22,625
1,175
Total
$ 571,330
$ 548,658
$ 22- , 672
Fire Protection:
Personal services
$ 242,025
$ 240,992
$ 1,033
Other services and charges
16,570
14,371
8,806
2,199
(26)
Supplies
p
8,780
Total
$ 267,375
$ 264,169
$ 3,026
Protective Inspection:
Personal services
$ 49,365
13,160
$ 48,433
16,646
$ 932
(3,486)
Other services and charges
995
869
126
Supplies
Capital outlay
Total
200
$ 65,9
200
$ 2,22
$ 63,720
Animal Control:
Other services and charges
$ 7,685
$ 7,458
$ 227
Supplies
200
68
132
Total
$ 7,885
$ 7,526
$ 359
Total Public Safety
$ 910,310
$ 886,301
$ 24,009
I CITY OF COLUMBIA HEIGHTS, M[NNESOTA
25
ANNUAL FINANCIAL REPORT
Form B -3
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS (CONTINUED)
For the Year Ended December 31, 1977
1, CITY OF COLUMBIA HEIGHTS, MINNESOTA 26
ANNUAL FINANCIAL REPORT
1977
Expenditures
Unencumbered
Appropriations
and
(Overexpended)
(Revised)
Encumbrances
Balance
PUBLIC WORKS:
Engineering:
Personal services
$
92,285
$ 91,740
$ 545
Other services and
charges
9,040
5,771
3,269
(2)
Supplies
Total
2,495
$ 10320
2,497
$ 100,008
$ 3,812
Street Maintenance:
Personal services
$
151,585
$ 153,882
$ (2,297)
Other services and
charges
34,490
37,427
40,377,
(2,937)
(1,677)
Supplies
Total
$
38,700
224,775
$ 231,686
$ ,911
Street Lighting:
Personal services
$
600
$ 2,107
$ (1,507)
Other services and
charges
$
46,450
47,050
44,860
$ 46-
1,590
$ -833
Total
,96-7
Traffic Signs and Signals:
Personal services
$
17,785
$ 14,478
$ 3,307
Other services and
charges
14,010
9,867
4,143
(411)
Supplies
4,500
4,911
Total
$
36,295
$ 29,256
$ 7,039
Tree Trimming and Removal:
$
25,600
$ 18,623
$ 6,977
Personal services
Other services and
charges
71,900
64,846
7,054
Supplies
1,000
520
480
Capital outlay
11,000
11,000
Total
$
109,500
$ 3,9 9
$ 25,511
Total Public Works
$
521,440
$ 491,906
$ 29,534
SANITATION:
Refuse Collection and
Disposal:
Personal services
$
7,430
$ 6,925
225,632
$ 505
9,368
Other services and
charges
235,000
Supplies
Total
200
$ 2 2, 30
27
173
$ 10,0+
$ 232- ,5��+
1, CITY OF COLUMBIA HEIGHTS, MINNESOTA 26
ANNUAL FINANCIAL REPORT
Form B -3
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS (CONTINUED)
For the Year Ended December 31, 1977
1977
Expenditures Unencumbered
Appropriations and (Overexpended)
(Revised) Encumbrances Balance
SANITATION (continued):
Weed Control:
$
600
$
600
-
Personal services
Other services and charges
$
2,000
2�0
414
$ 1,01
$ 1,586
$ 1,58T
Total
Total Sanitation
$
245,230
$
233,598
$ 11,632
LIBRARY:
Personal services
$
67,655
$
66,657
$ 998
Other services and charges
15,165
14,623
542
(1,130)
Supplies
$
24,100
106,920
$
25,230
106,510
$ 41o,
Total
MUNICIPAL PARKS:
Administration and Maintenance:
$
168,530
$
168,925
$ (395)
Personal services
Other services and charges
55,900
58,196
(2,296)
Supplies
12,050
$
14,812
241,933
(2,762)
$ (5,4351
$$ 236,4800
Wading Pools:
Personal services
$
1,200
$
362
$ 838
(381)
Other services and charges
1,900
381
2,005
(105)
Supplies
Total
$
3,100
$ 2 -7
352
Skating Rinks:
Personal services
$
9,500
$
8,512
$ 988
Other services and charges
11,400
400
9,012
1,398
2,388
(9g8)
Supplies
Total
$
21,300
$ 1 ,922
$ 2,37
Total Municipal Parks
$
260,880
$
263,603
$ (2,723)
CITY OF COLUMBIA HEIGHTS, MINNESOTA 27
ANNUAL FINANCIAL REPORT
>a
Form B -3
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS (CONTINUED)
For the Year Ended December 31, 1977
TRANSFERS:
1977
Recreation fund
$ 54,417 $ 54,417
Expenditures
Unencumbered
LaBelle Park fund
Appropriations
and
(Overexpended)
Total Transfers
(Revised)
Encumbrances
Balance
UNALLOCATED EXPENSE:
Insurance
$ 15,000
$ 17,332
$ (2,332)
Taxes and licenses
200
387
(187)
Settle Police relief association claim
40,016
40,016
I
REPORT
Legal fees blasting claims
3,000
3,000
Purchase three trucks
15,705
15,705
Contribution to softball tournament
700
(700)
Repair private driveway due to
1,530
(1,530)
construction damage
Vandalism
2,000
816
1,184
Other miscellaneous
24,691
623
24,068
Total Unallocated
$ 100,612
$ 80,109
$ 20,503
TRANSFERS:
Recreation fund
$ 54,417 $ 54,417
$
-
LaBelle Park fund
8,431
(8,431)
Total Transfers
$ 54,417 $ 62,848
$
(8,431)
Grand Total
$ 2,561,629 $ 2,463,113
$
98,516
(Form B -1)
CITY OF COLUMBIA HEIGHTS, MINNESOTA
28 ANNUAL
FINANCIAL
I
REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUA FINANCIAL REPORT
YEAR LNDED DECEMBER 31, 1977
SPECIAL 110"Ei [E FUNTS
Special Revenue Funds are used to account for the proceeds of
specific revenue sources as to finance specified activities as
required by law or administrative regulation.
The Revenue Sharing Fund is established by federal legislation
to account for the receipt and expenditure of general revenue
sharing funds. Antirecession Fund is established by federal
legislation to account for the receipt and expenditure of anti -
recession funds. The Recreation Fund is governed by a Recrea-
tion Commission established by an agreement between the City and
I.D.S. #13 School Board. The Civil Defense Fund is established
to account for tax levies and federal reimbursements. The
Municipal State -Aid Street Fund is maintained according to state
statute for the maintenance and construction of streets on the
Municipal State -Aid System. The C.E.T.A. Fund is established by
federal legislation to account for the receipt and expenditure of
funds under the comprehensive employment training act.
TABLE OF CONTENTS
Financial Statements:
Page
Combined Balance Sheet Form C 29
Statement of Changes in Fund Balance:
Revenue Sharing Fund
Form
C -1
31
Anti - Recession Aid Fund
Form
C -2
32
Recreation.Fund
Form
C -3
33
Civil Defense Fund
Form
C -.4
34
Municipal State -Aid Street Fund
Form
C -5
35
C.E.T.A. Fund
Form
C -6
37
See also the Notes to
Financial Statements.
SPECIAL REVENUE FUNDS
BALANCE SHEET
December 31, 1977
ASSETS Total
Cash:
Treasurer's balance (overdraft) $ (21,404)
Imprest Cash 50
Total Cash -- Form A -1 $ 21,35
Investments at cost -- Form A -3 95,000
Taxes receivable - delinquent 389
Less: Allowance for uncollectible taxes (389)
Due from Other Governmental Units:
Due from Federal - Office of Revenue Sharing 44,479
Due from State of Minnesota 166,588
Due from Anoka County 30,191
Total Assets $ 314,904
LIABILITIES, RESERVES AND FUND-BALANCE i S
Accounts payable $ 5,653
Contracts payable 8,375
Reserve for encumbrances 1,519
Fund Balance 299,357
Revenue
Sharing
$ 701
$ 701
38,000
44,479
$ 83,180
8,375
1,519
73,286
Form C -1
Total Liabilities, Reserves, and
Fund Balances $ 314,904 $ 83,180
CITY OF COLUMBIA HEIGHTS, MINNESOTA
29
ANNUAL FINANCIAL REPORT
Form C
Funds
$ 5 $ 205 $ - $ 5,443
1,996 30,771 193,304
Form C -3) Form C-4 Form C -5 Form C -6
$ 2,001 $ 30,976 $ 193,304 $ 5,443
CITY OF COLUMBIA HEIGHTS, MINNESOTA 30 ANNUAL FINANCIAL REPORT
Municipal
Civil
State
Recreation
Defense
Aid
C.E.T.A.
$ 1,951
$ 353
$ 339
$ (24,748)
50
$ 2,001
$ 353
$ 339
$ 24,74
28,000
29,000
389
(389)
2,623
163,965
30tig1
$ 2,001
$ 30,976
$ 193,304
$ 5,443
$ 5 $ 205 $ - $ 5,443
1,996 30,771 193,304
Form C -3) Form C-4 Form C -5 Form C -6
$ 2,001 $ 30,976 $ 193,304 $ 5,443
CITY OF COLUMBIA HEIGHTS, MINNESOTA 30 ANNUAL FINANCIAL REPORT
REVENUE SHARING FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
Fund Balance, January 1, 1977 $ 41,953
Estimated
Revenue
Revenue from Use of Money and Property:
Interest earnings- Investment trust
Fund $ 6,000
Revenue from Other Agencies:
Federal Revenue Sharing 152,565
Total Revenue $ 158,565
Actual
Revenue
Form C -1
Actual
Over
(Under)
Estimate
$ 6,257 $ 257
159,482 6,917
$ 165,739 $ 7,174
STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS
I.CITY OF COLUMBIA HEIGHTS, MINNESOTA
31
ANNUAL FINANCIAL REPORT
�1
Unexpended
(Over -
expended)
Appropriations
Expenditures
Balance
Capital Outlay:
Public Safety
$ 25,730
$ 27,650
$ (1,920)
Parks
70,530
65,005
5,525
General Government
9,565
16,273
(6,708)
Professional Services:
Downtown Development
16,000
14,119
1,881
Other General Government
36,740
11,359
25,381
Total Expenditures
$ 158,565
$ 134,406
$ 24,159
Fund Balance, December 31, 1977
$ 739286
Form C
I.CITY OF COLUMBIA HEIGHTS, MINNESOTA
31
ANNUAL FINANCIAL REPORT
�1
ANTI - RECESSION AID FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Fund Balance, January 1, 1977
Add:
Revenues:
Federal Grant
Total Balance and Additions
Deduct:
Expenditures:
Personal services
Fund Balance, December 31, 1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA
32
Form C -2
20,989
$ 20,989
$ 20,989
ANNUAL FINANCIAL REPORT
RECREATION FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Fund Balance, January 1, 1977
Add:
Revenues:
Revenue from other agencies:
Independent School District No. 13
Fees
Transfer from General Fund
Total Revenue
Total Balance and Additions
Deduct:
Expenditures:
Personal services
Other services and charges
Supplies
Capital outlay
Other expenses:
Playground
Athletic supplies
Beach program
Traveling teams
Total Expenditures
Fund Balance, December 31, 1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA
33
$ 59,945
8,904
54,417
93,563
10,541
2,391
1,428
1 >976
2,698
5,775
5,187
Form C -3
$ 2,289
123,266
$ 125,555
$ 123,559
$ 1 , 996
Form C
ANNUAL FINANCIAL REPORT
Form C -4
CIVIL DEFENSE FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Fund Balance, January 1, 1977
Add:
Revenues:
General Property Taxes:
Current ad valorem
Delinquent ad valorem
Total General Property Taxes
Revenue from Other Agencies
Property Tax Relief (Homestead)
Federal Aid
Total Revenue from Other Agencies
Interest earnings- Investment Trust Fund
Miscellaneous
Total Revenue
Total Balance and Additions
Deduct:
Expenditures:
Personal services
Other services and charges
Supplies
Capital outlay
Total Expenditures
Appropriations to establish Central Garage
Fund Balance, December 31, 1977
0
CITY OF COLUMBIA HEIGHTS, MINNESOTA
34
$ 26,687
$ 26,957
9,013
9,031
18,044
.720
$ 13,337
5,941
1,220
5,621
$ 10,647
46,398
$ 57,045
26,119
155
$ 30,771
Form C
ANNUAL FINANCIAL REPORT
MUNICIPAL STATE -AID STREET FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Total
Project Authorization
$
233,977
Fund Balance, January 1, 1977
$
95,842
$
95,842
Add:
Revenues:
State of Minnesota -- gasoline tax apportionments:
Maintenance
$
13,765
$
13,765
Construction
146,810
146,810
Revenue from use of money and property:
Interest - Investment Trust Fund
4,613
4,613
Total Revenue
$
165,188
$
165,188
Reallocation of prior appropriations
$
$
(2,136)
Prior year expenditures re- established
233,977
Total Balance and Additions
$
495,007
$
258,894
Deduct:
Expenditures:
Prior year
$
233,977
$
-
Current year:
Construction costs
2,136
Maintenance costs
8,014
8,014
Total Expenditures
$
244,127
$
8,014
Transfer to other funds:
General Fund - Street Maintenance on
State -Aid Roads
57,576
57,576
Total Deductions
$
301,703
$
65,590
Fund Balance, December 31, 1977
$
193,304
$
193,304
Form C
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
35
ANNUAL FINANCIAL REPORT
Form C -5
Completed City Projects
Jefferson Street Jefferson
40th to 45th Avenue Retaining Wall
$ 170,717 $ 63,260
$ - $ -
$ - $ 2,136
170,717 63,260
$ 170,717 $ 65,396
$ 170,717 $ 63,260
2,136
$ 170,717 $ 65,396
$ 170,717 S 65.396
CITY OF COLUMBIA HEIGHTS, MINNESOTA 36 ANNUAL FINANCIAL REPORT
C.E.T.A. FUND
ANALYSIS OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Fund Balance, January 1, 1977
Add:
Revenues:
Federal Grant
Total Balance and Additions
Deduct:
Expenditures:
Personal services
Other services and charges
Total Expenditures
Fund Balance, December 31, 1977
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
37
$ 219,702
629
Form C -6
220,331
$ 220,331
�t orm u)
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
D
My"ITAL PROJECT F[1DS
Capital Project Funds are maintained to account for the
construction of major capital facilities. Project appli-
cations are a combination of several revenue sources, such
as municipal state -aid streets, special assessments, sewer
utility fund, other governmental units, State and Federal
Grants, etc.
TABLE OF CONTENTS
Financial Statements:
Page
Combined Balance Sheet Form D 38
Statement of Changes in Fund Balance Form D -1 40
Statement of Cash Receipts and
Disbursements Form D-2 42
See also the Notes to Financial Statements.
CAPITAL PROJECT FUNDS
COMBINED BALANCE SHEET
December 31, 1977
ASSETS
Current Assets:
Cash - Treasurer's balance -- Form A -1
Investments (at cost) -- Form A -3
Due from other governmental:
U. S. Department of Commerce EDA
U. S. Department of Housing and Urban Development -
Grant
Taxes receivable - delinquent
Less: Allowance for uncollectible taxes
Due from other funds
Total Assets
LIABILITIES AND FUND BALANCE
Current Liabilities:
Accounts payable
Contracts payable
Due to Sullivan Lake fund
Fund balance -- Form D -1
Total Liabilities and Fund Balances
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
$ 1,851
368,000
413,000
27,430
406
(406)
108,000
$ 91 ,2 1
$ 910
511,453
108,000
297,918
ANNUAL FINANCIAL REPORT
Capital
Improvement
C.P. 308
$ 640
323,000
413,000
F ten/ /_ 1.n
$ 899
467,637
268,104
11 -7nL L1,n
Sullivan
Lake
C.P. 807
$ 554
45,000
406
(406)
108,000
r , rn rrl.
$
153,554
r i ro rrl,
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Funds
LaBelle
Park
Improvement
$ 303
27,430
F n'7 Inn
$ 11
20,742
7,000
(20)
6 n-, -7-7 7
39
Fo rm D
Central Avenue
Urbanization
C.P. 3o4
$ 354
11 n r 1.
$
23,074
101,000
(123,720)
$ 354
ANNUAL FINANCIAL REPORT
CAPITAL PROJECT FUNDS
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1977
Project Authorization
Fund Balance, January 1, 1977
Add:
Appropriations from other funds:
General Fund
Revenue Sharing
Sewer Utility Fund
Interest earnings - Investment Trust Fund
Collect Delinquent Taxes
Grant - U.S. Deparment of Commerce EDA
Prior years expenditures re- established
Total Balance and Additions
Deduct:
Expenditures:
Prior years
Current year:
Construction contracts
Other project expenditures
Total Expenditures
Fund Balance, December 31, 1977
Project Numbers
C.P.
308 -
Capital
Improvements
C.P.
807 -
Sullivan
Lake
C.P.
202 -
LaBell:e
Park
C.P.
304 -
Central
Avenue Urbanization
CITY OF COLUMBIA HEIGHTS, MINNESOTA
40
Total
S 902.334
� OLL,000
8,431
30,050
11,000
27,655
1,194
413,000
442,834
$ 1,556,250
$ 442,834
730,062
85,436
$ 1,258,332
S 297.918
krorm u)
ANNUAL FINANCIAL REPORT
Form D -1
Incomplete Projects
C.P. 308 C.P. 807 C.P. 202 C.P. 304
$ 464,304 $ 225,000 $ 83,030 $ 130,000
$ 435,841 $ 147,142 $ 33,549 $ 5,554
8,431
30,050
11,000
19,571 8,084
1,194
413,000
56,873 382,434 3,527
$ 925,285 $ 538,854 $ 83,030 $ 9,081
$ 56,873
$ 382,434
$ -
$ 3,527
547,683
78,751
103,628
52,625
25866
4,299
25,646
$ 657,181
$ 385,300
$ 83,050
$ 132,801
$ 268,104
$ 153,554
$ (20)
$ (123,720)
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
41
ANNUAL FINANCIAL REPORT
CAPITAL PROJECT FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1977
Cash - Treasurer's balance, January 1, 1977
Receipts:
Interest earnings - Investment Trust Fund
Taxes - Delinquent
Appropriation from Revenue Sharing
Appropriation from General Fund
Appropriation from Sewer Utility Fund
Reversal of investment trust allocation
Loan from Sullivan Lake Fund
Total Cash Available
Disbursements:
Construction contracts
Other project expenditures
Investment trust allocation
Loans to other funds
Total Disbursements
Cash - Treasurer's balance, December 31, 1977
CITY OF COLUMBIA HEIGHTS) MINNESOTA 42
Total
$ 23,306
27,655
1,194
30,050
8,431
11,000
575,000
108,000
$784,636
$223,722
83,063
368,000
108,000
$782,785
$ 1:851
Form D
ANNUAL FINANCIAL REPORT
Form D -2
C.P. 308
c.P. 807
C.P. 202
C.P. 304
$ 5,841
$ 2,142
$ 9,769
$ 5,554
19,571
8,081+
1,194
30,050
8,431
11,000
430,000
145,000
7,000
101,000
$455,412
$156,420
$
66,250
$106,554
$ 81,255
$ -
$
61,913
$ 80,554
50,517
2,866
4,034
25,646
323,000
45,000
108,000
$454,772
$155,866
$
65,947
$106,200
$ 640
$ 554
$
303
$ 354
CITY OF COLUMBIA HEIGHTS, MINNESOTA 43 ANNUAL FINANCIAL REPORT
THE CITY OF COLUM IA HEIGHTS, MINNESOTA
ANNUA FINANCIAL 4PORT
YEAR kNDED DECEMBER 31, 1977
ENTERPRISE FUNDS
The Authority for these types of funds is derived from Section
69 (b) of the City Charter which allows for utility or other
public service enterprise funds. Enterprise fund operations are
financed solely by user charges.
TABLE OF CONTENTS
See also the Dotes to Financial Statements.
Page
Financial Statements:
Combined Balance Sheet
Form
E
44
Municipal Liquor Fund:
Comparative Balance Sheet
Form
F
46
Comparative Statement
of
Changes in
Retained Earnings
Form
F -1
47
Comparative Statement
of
Revenue and Expense
Form
F -2
48
Comparative Statement
of
Revenue
Form
F -3
50
Comparative Statement
of
Operating Expense
Form
F -4
52
Comparative Statement
of
Changes in Financial
Position
Form
F -5
54
Statement of Fixed Assets
and Depreciation
Form
F -6
55
Water Utility Fund:
Comparative Balance Sheet
Form
G
59
Comparative Statement
of
Changes in Retained
Earnings
Form
G-1
60
Comparative Statement
of
Revenue and Expense
Form
G -2
61
Comparative Statement
of
Changes in
Financial Position
Form
G -3
62
Statement of Changes
in Assets
Restricted
for General Bond Debt
Service
Form
G -4
63
Sewer Utility Fund:
Comparative Balance Sheet
Form
H
64
Comparative Statement
of
Changes in
Retained Earnings
Form
H -1
65
Comparative Statement
of
Revenue and Expense
Form
H -2
66
Comparative Statement
of
Changes in
Financial Position
Form
H -3
67
See also the Dotes to Financial Statements.
ENTERPRISE FUNDS
COMBINED BALANCE SHEET
December 31, 1977
ASSETS
Current Assets:
Cash - Treasurer's balance
Imprest cash and change funds
Investments (at cost)
Accounts receivable:
Unbilled services
Special assessments:
Current
Delinquent
Other
Inventories
Prepaid expenses
Restricted Assets:
Cash with fiscal agents
Cash - Treasurer's balance
Investments (at cost)
Total Current Assets
Deferred Assets:
Accounts receivable
Contracts receivable
Fixed Assets:
Land
Buildings (net)
Improvements other than bldgs. (net)
Fixtures
Equipment:
Store
Office
TOTAL ASSETS
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Water Sewer
Liquor Utility Utility
Total Fund Fund Fund
$ 1,542
$ 559
$ 396
$ 587
10,100
10,100
9,535
9,535
198,450
102,000
78,000
18,450
202,845
$389,405 $255,491 $439,769
126,016
76,829
8,338
8,338
1,357
1,357
11,077
10,728
349
104,103
100,288
3,815
549
549
27,575
27,575
96
96
9,000
9,000
$ 575,032
$223,675
$255,491
$ 95,866
38,402 1,572
307,073
36,830
307,073
16,735
16,735
104,950
104,950
22,546
22,546
9,535
9,535
9,577
9,577
815
815
$1,084,665
$389,405 $255,491 $439,769
TForm F Form G Form H
44
ANNUAL FINANCIAL REPORT
LIABILITIES, RESERVES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current Liabilities:
Accounts payable
Accrued salaries payable
Contracts payable
Due to other funds
Due to other governmental units
Current liabilities payable from
restricted assets:
Matured bonds and interest payable
Bonds payable
Total Current Liabilities
Form E
Water Sewer
Liquor Utility Utility
Total Fund Fund Fund
$ 55,944 $ 34,216 $ 21,086 $ 642
5,744
2,833 1,516 1,395
12,974
12,974
4,950
4,950
5,349
261 164 4,924
27,575
27,575
25,000
25,000
$ 137,536
$ 37,310 $ 93,265 $ 6,961
Bonds payable 25,000 25,000
Due to other funds - long term 61,050 61,050
Deferred credit 307,073 307,073
Reserves:
Sur Tax - tower construction 166,007 166,007
General debt service ( 40,904) (40,904)
Retained Earnings
TOTAL LIABILITIES, RESERVES,
CONTRIBUTIONS AND RETAINED
EARNINGS
CITY OF COLUMBIA HEIGHTS, MINNESOTA
$ 428,903 $352,095 $(48,927) $125,735
$1,084,665 $389,405 $255,491 $439,769
Form F Form G Form H
45
ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
COMPARATIVE BALANCE SHEET
December 31, 1977 and 1976
ASSETS
Current Assets:
Cash:
Treasurer's Balance
Imprest cash and change funds
Total Cash -- Form A -1
Investments (at cost) -- Form A -3
Accounts receivable
Inventory - Merchandise for resale (at cost)
Total Current Assets
Deferred Assets:
Accounts receivable - Judgement - Anti -trust suit
settlement (less portion due within one year)
Fixed Assets:
Land
Buildings
Improvements other than buildings
Office equipment
Store equipment
Total
Less: Allowance for depreciation
'Net Fixed Assets -- Form F -6
Total Assets
LIABILITIES AND RETAINED EARNINGS
Current Liabilities:
Accounts payable
Accrued salaries payable
Accrued Social Security taxes payable
Total Current Liabilities
Retained Earnings -- Form F -1
Total Liabilities and Retained Earnings
I CITY OF COLUMBIA HEIGHTS, PAINNESOTA
46
Form F
1977 1976
$ 559 $ 16,227
10,100 10,100
$ 10,659 $ 26,327
102,000
10,728 9,907
100,288 138,895
$223,675 $175,129
$ 1,572 $ 3,143
$ 16,735 $ 33,358
169,390
169,390
58,183
53,744
1,362
1,362
74,913
74,404
$320,583
$332,258
156,425
163,038
$164,158
$169,220
$389,405 $347,492
$ 34,216 $ 27,659
2,833
261
$ 37,310 $ 27,659
$352,095 $319,833
$389,405 $347,492
ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
COMPARATIVE STATEMENT OF CHANGES IN RETAINED EARNINGS
For the Years Ended December 31, 1977 and 1976
1977
Retained Earnings, January 1 $319,833
Add:
Net income for the year -- Form F -2 32,792
Total Balance and Additions $352,625
Deduct:
Appropriations to the General Fund $ -
Adjustment to fixed assets and
allowance for depreciation 530_
Total Deductions $ 530
Retained Earnings, December 31 -- Form F $352,095
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
47
Form F -1
1976
$376,181
28,652
$404,833
$ 85,000
$- 5� , 000-
$319,833
ANNUAL FINANCIAL REPORT
Sales
MUNICIPAL LIQUOR FUND
COMBINED ON -SALE AND OFF -SALE
COMPARATIVE STATEMENT OF REVENUE AND EXPENSE
For the Years Ended December 31, 1977 and 1976
Total All Stores
1977 1976
$1,034,928 $1,101,434
On -Sale Store
1977 1976
$310,390 $258,407
Cost of Sales:
Inventory, Beginning
$
138,895
$
126,761
$
8,942
$
6,647
Purchases
625,974
759,374
94,490
74,824
Total Mdse.Available for Sale
$
764,869
$
886,135
$103,432
$
81,471
Less: Inventory, Ending
100,288
138,895
9,636
8,942
Cost of Sales
$
664,581
$
747,240
$
93,796
$
72,529
Gross Profit on Sales
$
370,347
$
354,194
$216,594
$185,878
Percentage of Gross Profit to Sales
35.78%
32.2 %
69.8 %
71.9 %
Less:
Operating Expense -- Form F -4
$
336,932
$
321,615
$207,558
$160,663
Net Operating Income before Depreciation
$
33,415
$
32,579
$
9,036
$
25,215
Less: Depreciation -- Form F -6
9,480
8,805
4,928
4,408
Net Operating Income (Loss)
$
23,935
$
23,774
$
4,108
$
20,807
Additions to Income:
Interest earnings - Investment
Trust Fund
5,036
1,549
1,590
388
Machine commissions
4,852
4,490
3,927
3,289
Check cashing
306
651
161
187
Other
656
262
511
87
Total Income
$
34,785
$
30,726
$
10,297
$
24,758
Deductions from Income:
Bad checks
$
698
$
988
$
603
$
563
Cash short
1,295
1,086
357
337
Total Deductions from Income
$
1,993
$
2,074
$
960
$
900
Net Income to Retained Earnings
$
32,792
$
28,652
$
9,337
$
23,858
CITY OF COLUMBIA HEIGHTS, MINNESOTA
Form F -1
48 ANNUAL FFINA NCIAL REPORT
Total
1977 1976
$724,538 $843,027
$129,953 $120,114
531,484 684,550
$661,437 $804,664
90,652 129,953
$570,785 $674,711
$153,753 $168,316
Form F -3) Form F -3)
21.220 20.0 %
$129,374 $160,952
$ 24,379 $° 7,364
4,552 4,397
$ 19,827 $ 2,967
3,446
1,161
925
1,201
145
464
145
175
$ 24,488 $ 5,968
$ 95 $
425
938
749
$ 1,033 $
1,174
$ 23,455 $
4,794
(A) Off -Sale
Store No
Form F -2
Off -Sale Stores
No. 1 No. 2 No. 3
1977(A) 1976 1977 1976 1977 1976
$ 29,267 $242,798 $325,625 $245,970 $369,646 $354,259
$ 47,225 $ 42,799
(24,686) 200,748
$ 22,539 $243,547
47,225
$ 22,539 $196,322
$ 6,728 $ 46,476
23.0 % 19.1
$ 12,866 $ 55,614
$( 6,138) $( 9,138)
1,574 1,359
$( 7,712) $(10,497)
266 387
48 347
17 187
11 27
$( 7,370) $( 9,549)
$ 37,360 $ 31,152
257,670 202,044
$295,030 $233,196
38,356 37,360
$256,674 $195,836
$ 68,951 $ 50,134
21.2 % 20.4
$ 55,697 $ 50,983
$ 13,254 $( 849)
1,103 1,155
$ 12,151 $( 2,004)
1,590
387
383
319
64
178
96
66
$ 14,284 $( 1,054)
$ - $ 200 $ 55 $ 125
152 258 397 149
$ 152 $ 458 $ 452 $ 274
$( 7,522) $(10,007) $ 13,832 $( 1,328)
1 closed February 28, 1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA
49
$ 45,368 $ 46,163
298,500 281,758
$343,868 $327,921
52,296 45,368
$291,572 $282,553
$ 78,074 $ 71,706
21.1 % 20.2
$ 60,811 $ 54,355
$ 17,263 $ 17,351
1,875 1,883
$ 15,388 $ 15,468
1,590
387
494
535
64
99
38
82
$ 17,574 $ 16,571
$ 40
$ too
389
342
$ 429
$ 442
$ 17,145
$ 16,129
ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
COMPARATIVE STATEMENT OF REVENUE
For the Years Ended December 31, 1977 and 1976
1977
TOTAL OFF SALE Total Liquor
Sales $724,538 $334,421
Cost of Sales:
Inventory, Beginning
Purchases
Total Merchandise Available for Sale
Less: Inventory, Ending
Cost of Sales
Gross Profit (Loss) on Sales -- Form F -2
Percentage of Gross Profit to Sales
NO. 1
Sales
$129,953
$111,370
531,484
219,888
$661,437
$331,258
90,652
76,445
$570,785
$254,813
$153,753 $ 79,608
21.220 23.80%
$ 29,267 $ 16,747
Cost of Sales:
$ 31,200
257,670
113,376
$295,030
Inventory, Beginning
$
47,225
$
42,328
Purchases
(24,686)
(31,720)
Total Merchandise Available for Sale
$
22,539
$
10,608
Less: Inventory, Ending
Cost of Sales
$
22,539
$
10,608
Gross Profit (Loss) on Sales
$
6,728
$
6,139
Percentage of Gross Profit to Sales
22.99%
36.66%
NO. 2
Sales
$325,625
$145,175
Cost of Sales:
Inventory, Beginning
Purchases
Total Merchandise Available for Sale
Less: Inventory, Ending
Cost of Sales
Gross Profit (Loss) on Sales
Percentage of Gross Profit to Sales
NO. 3
Sales
$ 37,360
$ 31,200
257,670
113,376
$295,030
$144,576
38,356
32,469
$256,674
$112,107
$ 68,951 $ 33,068
21.17% 22.78%
$369,646 $172,499
Cost of Sales:
Inventory, Beginning $ 45,368 $ 37,842
Purchases 298,500 138,232
Total Merchandise Available for Sale $343,868 $17- 6,07T+
Less: Inventory, Ending 52,296 43,976
Cost of Sales $291,572 $132
Gross Profit (Loss) on Sales
Percentage of Gross Profit to Sales
CITY OF COLUMBIA HEIGHTS, MINNESOTA
50
$ 78,074 $ 40,401
21.12% 23.42%
ANNUAL FINANCIAL REPORT
CITY OF COLUMBIA HEIGHTS, MINNESOTA 51 ANNUAL FINANCIAL REPORT
Form F -3
1977
1976
Beer
Other
Total
Liquor
Beer
Other
$377,585
$12,532
$843,027
$398,512
$431,442
$13,073
$ 16,018
$
2,565
$120,114
$ 96,787
$ 19,771
$ 3,556
300,868
10,728
684,550
323,324
348,959
12,267
$316,886
$13,293
$ 04,664
$420,111
$36�
$15- ,2
12,746
1,461
129,953
111,370
16,018
2,565
-_,2
$304,140
$11- , 3
$674,711
$3�7+T1
$352,712
$13
$ 73,445
$
700
$168,316
$ 89,771
$ 78,730
$( 185)
19.45%
5.58%
19.97%
22.53%
18.25%
- %
$ 12,173
$
347
$242,798
$126,288
$113,188
$ 3,322
$ 4,272
$
625
$ 42,799
$ 36,960
$ 5,659
$ 180
7,292
(
258)
200,748
101,916
95,519
_ 3,313_
$ 11,564
$
367
$243,547
$138,876
$101,178
$ 3,493
47,225
42,328
4,272
625
$ 11,564
$
367
$196,322
$ 96,548
$ 96,906
$ 2,868
S 609
$(
20)
$ 46,476
$ 29,740
$ 16,282
S 454
5.00%
- %
19.14%
23.55%
14.38%
13.67%
$174,715
$
5,735
$245,970
$110,075
$131,401
$ 4,494
$ 5,470
$
690
$ 31,152
$ 23,227
$ 6,062
$ 1,863
139,227
5,067
202,044
93,752
105,097
3,195
$144,697
$
5,757
$233,196
$116,979
$111,159
$ 5,058
5,357
530
37,360
31,200
5,470
690
$139,340
$
5,227
$195,836
$ 85,779
$105,689
$ 4,368
$ 35,375
$
508
$ 50,134
$ 24,296
$ 25,712
$ 126
20.25%
8.86%
20.38%
22.07%
19.57%
2.80%
$190,697
$
6,450
$354,259
$162,149
$186,853
$ 5,257
$ 6,276
$
1,250
$ 46,163
$ 36,600
$ 8,050
$ 1,513
154,349
5,919
281,758
127,656_
148,343
5,759
160,625
7,169
327,921
164,256
156,393
7,272
7,389
931
45,368
37,842
6,276
1,250
$153,236
$
6,238
$282,553
$126,414
$150,117
$ 6,022
$ 37,461
$
212
$ 71,706
$ 35,735
$ 36,736
$( 765)
19.64%
3.29%
20.24%
22.04%
19.66%
- %
CITY OF COLUMBIA HEIGHTS, MINNESOTA 51 ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
COMPARATIVE STATEMENT OF OPERATING EXPENSES
For the Years Ended December 31, 1977 and 1976
PERSONAL SERVICES:
Salaries - regular employees
Salaries - overtime and part time employees
Interdepartmental labor services
City Contribution to PERA and FICA
Hospitalization - Life Insurance
Workmen's and Unemployment Comp
Total Personal Services
1977
Total
On -Sale
No. 1
$139,205
$ 91,385
$ 3,636
76,344
40,300
1,799
1,435
418
640
21,779
13,363
544
6,525
4,585
81
18,134
12,139
2,950
$263,422
$162,190
$ 9,650
OTHER SERVICES & CHARGES:
Contractural Maint. & Repair
$ 2,873
$ 903
$ 50
Professional Services
26,813
23,695
1,664
Communications
2,024
977
115
Travel- subscriptions
717
225
42
Utility
11,404
6,118
342
Insurance & bonds
17,276
5,619
687
Other contractural services
2,476
1,479
82
Other charges
2,380
1,198
190
Total Other Services & Charges
$ 65,963
$ 40,214
$ 3,172
SUPPLIES:
General supplies
Bar supplies
Total supplies
Total Operating Expense
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
52
$ 3,761 $ 1,368 $ 44
3,786 3,786
$ 7,547 $ 5,154 $ 44
$336,932 $207,558 $12,866
Form F -2)
ANNUAL FINANCIAL REPORT
Form F -4
1977
1976
No. 2
No. 3
Total
On -Sale
No. 1
No. 2
No. 3
$18,766
$25,418
$161,516
$ 87,225
$26,693
$23,874
$23,724
19,032
15,213
66,937
29,894
11,941
11,188
13,914
274
103
566
407
140
12
7
3,703
4,169
23,918
13,317
3,712
3,519
3,370
769
1,090
6,115
3,763
754
786
812
1,467
1,578
1,771
1,670
101
$44,011
$47,571
$260,823
$136,276
$43,341
$39,379
$41,827
$ 839
$ 1,081
$ 4,683
$ 2,341
$ 521
$ 738
$ 1,083
727
727
14,046
7,869
2,059
2,059
2,059
453
479
1,920
569
565
344
442
225
225
1,112
218
185
317
392
2,102
2,842
12,436
4,683
3,142
2,165
2,446
5,485
5,485
14,700
3,675
3,675
3,675
3,675
364
551
3,467
1,218
595
857
797
505
487
3,466
1,477
736
612
641
$10,700
$11,877
$ 55,830
$ 22,050
$11,478
$10,767
$11,535
$ 986
$ 1,363
$ 3,173
$ 548
$ 795
$ 837
$ 993
1,789
1,789
$ 986
$ 1,363
$ 4,962
$ 2,337
$ 795
$ 837
$ 993
$55,697
$60,811
$321,615
$160,663
$55,614
$50,983
$54,355
CITY OF COLUMBIA HEIGHTS,
MINNESOTA
53
ANNUAL
FINANCIAL REPORT
Form F -5
MUNICIPAL LIQUOR FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Years Ended December 31, 1977 and 1976
k—ay OF COLUMBIA HEIGHTS, MINNESOTA 54 ANNUAL FINANCIAL REPORT
6
1977
1976
Source of Funds:
Operations:
Net operating income -- Form F -2
$ 23,935
$ 23,774
Items not requiring current outlay of
F -6
9,480
8,805
funds - depreciation -- Form
Total Operations
$ 33,415
$ 32,579
Non - operating income
10,850
6,952
Decrease in working capital
48,858
Decrease in deferred assets
1,571
1,571
Total Source of Funds
$ 45,836
$ 89,960
Application of Funds:
Non - operating expenses
$ 1,993
$ 2,074
Additions to fixed assets -- Form F -6
4,948
2,886
Appropriations to the General Fund
85,000
Increase in working capital
38,895
Total Application of Funds
$ 45,836
$ 89,960
Increase
Increase
(Decrease)
(Decrease)
Various Elements of Net Change in Working
Capital:
Cash
$(15,668)
$ 13,390
Investments
102,000
(105,000)
Accounts receivable
821
7,351
Inventory
(38,607)
12,134
Accounts payable
( 9,651)
23,267
$ 38,895
$( 48,858)
k—ay OF COLUMBIA HEIGHTS, MINNESOTA 54 ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
For the Year Ended December 31, 1977
Fixed Assets
Balances Balances
1 -1 -77 Additions Transfers 12 -31 -77
On Sale /Lounge Store:
Land
$ 6,440
$ -
$ -
$ 6,440
Building
66,417
32,713
Improvements other than buildings
66,417
Parking area
8,335
Fixtures
7,527
8,335
Improvements other than buildings
25,171
1,895
364
27,430
Fixtures
28,031
380
1,771
30,182
Equipment:
(284)
Total
$ 56,448 $
Store
12,857
43
384
13,284
Office
640
95
735
Total
$147,891
$ 2,318
$ 2,614
$ 152,823
Off Sale No 1 Store:
Land
$ 3,170 $ -
$ -
$ 3,170
Building
32,713
32,713
Improvements other than buildings
10,991
(364)
10,627
Fixtures
7,527
(1,771)
5,756
Equipment:
Store
1,763
(1,763)
Office
284
(284)
Total
$ 56,448 $
$ (4,182)
$ 52,266
I.CITV OF COLUMBIA HEIGHTS, MINNESOTA
55
ANNUAL FINANCIAL REPORT
Allowance for Depreciation
Balances Depreciation
1-1-77 Taken Additions Deductions
364
1,594
1,456
102
$ 3,516
Form F -6
Balances Net Asset
12 -31 -77 Value
$ -
$ 6,440
29,733
36,684
903
7,432
19,903
$ -
$
-
$
-
264
28,432
1,301
486
417
I
18,628
911
364
23,528
943
1,594
3,118
1,269
159
143
87
34
$74,335
$
4,928
$
2,151
14,092
650
6,959
548
6,962
364
1,449
7
97
5
$29,559
$
1,574
$
-
364
1,594
1,456
102
$ 3,516
Form F -6
Balances Net Asset
12 -31 -77 Value
$ -
$ 6,440
29,733
36,684
903
7,432
19,903
7,527
26,065,
4,117
4,546
8,738
264
471
$81,414 $ 71,409
$ - $ 3,170
14,742 17,971
7,143 3,484
5,732 24
$27,617 $ 24,649
CITY OF COLUMBIA HEIGHTS, MINNESOTA 56 ANNUAL FINANCIAL REPORT
MUNICIPAL LIQUOR FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
For the Year Ended December 31, 1977
Off Sale No. 2 Store:
Land
Building
Improvements other then buildings
Fixtures
Equipment:
Store
Office
Total
Off Sale No. 3 Store:
Land
Building
Improvements other than buildings
Fixtures
Equipment:
Store
Office
Total
Adjustments to Fixed Assets and
allowance for Depreciation
Grand Totals
Fixed Assets
Balances
Balances
1 -1 -77 Additions Transfers
12 -31 -77
$ 2,765 $ - $ -
$ 2,765
27,637
27,637
4,549 2,543
7,092
7,054
7,054
1,426 83
1,509
265 44 95
404
$ 43,969 $2,587 $ 178 $ 46,461
$ 4,360 $ - $ - $ 4,360
42,623 42,623
4,698 4,698
14,791 14,791
955 1,295 2,250
173 43 95 311
$ 67,600 $ 43 $ 1,390 $ 69,033
$ 16,623 $ - $(16,623)(A) $ -
$332,258 $4,948 $(16,623) $320,583
( orm -5) (Form-77
(A) Reduce fixed assets by $16,622.64 to agree with detailed fixed assets records.
(B) Reduce allowance for depreciation by $16,092.84 to agree with detailed reserve
for depreciation records.
g CITY OF COLUMBIA HEIGHTS, MINNESOTA
57
ANNUAL FINANCIAL REPORT
Form F -6
( CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
Allowance
for Depreciation
Balances
Depreciation
Balances
Net Asset
1 -1 -77
Taken
Additions
Deductions
12 -31 -77
Value
$ -
$ -
$ -
$ -
$ -
$ 2,765
6,771
553
7,324
20,313
3,503
143
3,646
3,446
5,719
353
6,072
982
1,317
20
43
1,380
129
83
34
34
151
253
$ 17,393
$1,103
$ 77
$ -
$ 18,573
$ 27,888
$ -
$ -
$ -
$ -
$ -
$ 4,360
11,768
873
12,641
29,982
3,854
188
4,042
656
9,669
710
10,379
4,412
290
82
1,254
1,626
624
77
22
34
133
178
$ 25,658
$1,875
$1,288
$ -
$ 28,821
$ 40,212
$ 16,093
$ -
$ -
$16,093(B)
$ -
$ -
$163,038
$9,480
$3,516
$19,609
$156,425
$164,158
(Form F -2)
JForm F
Form F
( CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
WATER UTILITY FUND
COMPARATIVE BALANCE SHEET
December 31, 1977 and 1976
ASSETS
Current Assets:
Cash - Treasurer's balance -- Form A -1
Investments (at cost) -- Form A -3
Accounts receivable:
Unbilled services
Special assessments:
Current
Delinquent
Other
Meter inventory (at cost)
Prepaid expense
Total Current Assets
Restricted Assets:
Cash with fiscal agent
General bond debt service
Cash - Treasurer's balance -- Form A -1
Investments (at cost) -- Form A -3
Total Restricted Assets -- Form G -4
Total Assets
LIABILITIES, RESERVES, AND RETAINED EARNINGS
Current Liabilities:
Accounts payable
Accrued salaries payable
Accrued Social Security taxes payable
Contracts payable
Due to debt service funds:
General obligation bonds 1965
Due to other funds
Total
Current Liabilities (Payable from Restricted Assets):
Matured bonds and interest payable
Bonds payable- General Obligation
(due within one year)
Total Current Liabilities
Other Liabilities:
Bonds payable- General Obligation
(less portion due within one year)
Water Bonds of 1965
Due to general obligation bonds of 1965
Total Other Liabilities
Total Liabilities
Reserves:
Sur tax - Tower construction
General debt service
Retained Earnings (Deficit) -- Form G -1
Total Liabilities, Reserves,
and Retained Earnings
CITY OF COLUMBIA HEIGHTS, [MINNESOTA
Form G
1977 1976
$ 396
$ 1,745
78,000
50,000
126,016
143,460
8,338
5,503
1,357
1,473
349
530
3,815
3,280
549
29,096
$218,820
$235,087
$ 27,575
$ 26,713
96
5,928
9,000
23,000
$ 36,671
$ 55,641
$255,491 $290,728
1,516
1,882
164
200
12,974
$244,611
4,950
4,950
49,980
$ 40,690
$ 76,8
27,575
26,713
25,000
25,000
$ 93,265
$128,611
$ 25,000 $ 50,000
61,050
66,000
$ 86,050
$116,000
$179,315
$244,611
166,007
121,492
(40,904) (46,072)
(48,927) (29,303)
$255,491 $290,728
59 ANNUAL FINANCIAL REPORT
Form G -1
WATER UTILITY FUND
COMPARATIVE STATEMENT OF CHANGES IN RETAINED EARNINGS
For the Years Ended December 31, 1977 and 1976
1977 1976
Retained Earnings (Deficit), January 1 $ (29,303) $ (93,594)
Add: Net income for the year -- Form G -2 38,099 134,645
Adjust prior years expenditures 1,100
Total Balance and Additions $ 8,796 $ 42,151
Deduct:
Capital; Outlay
Transfer to General obligation bonds:
Garage bonds
Transfer to Water Revenue bonds
Transfer to Capital Projects - Special assessments
Appropriation to Central Garage
Fund - Permanent
Retained Earnings (Deficit), December 31 -- Form G
1. CITY OF COLUMBIA HEIGHTS, MINNESOTA
17,301 27,562
15,000 15,000
23,597 25,000
3,892
1,825
$ (48,927) $ (29,303)
ANNUAL FINANCIAL REPORT
WATER UTILITY FUND
COMPARATIVE STATEMENT OF REVENUE AND EXPENSE
For the Years Ended December 31, 1977 and 1976
1977
Form G -2
1976
OPERATING REVENUES:
Water sales
$
440,256
$
522,457
Hydrant rental
500
500
Meter sales (less cost of sales)
1,622
387
Customer service
2,936
3,989
Penalties
2,478
2,764
Total Operating Renenue
$
447,792
$
530,097
OPERATING EXPENSES:
$
251,473
$
241,947
Source of supply
Distribution:
Personal services
102,167
92,761
Other services and charges
21,076
18,146
Supplies
18,169
21,597
Administration & General:
Personal services
10,988
7,541
Other services and charges
8,255
12,525
Supplies
355
1,100
Total Operating Expenses
$
412,483
$
395,617
OPERATING INCOME
$
35,309
$
134,480
Add: Non - operating income:
Interest earnings
Investment Trust Fund
4,773
4,552
Certification delinquent utility bills
1,153
756
Miscellaneous
3,546
1,136
Total Income
$
44,781
$
140,924
Deduct: Non - operating expense:
Interest expense (bonds and loan)
6,682
6,279
Net Income to Retained Earnings -- Form G -1
$
38,099
$
134,645
l CITY OF COLUMBIA HEIGHTS, MINNESOTA 61
ANNUAL FINANCIAL REPORT
i
Form G -3
WATER UTILITY FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Years Ended December 31, 1977 and 1976
1977 1976
Source of Funds:
Net operating income -- Form G -2
$
35,309
$
134,480
Non - operating income -- Form G -2
9,472
6,444
Adjust prior years expenditures
1,100
Water tower sur -tax
44,515
51,812
Total Source of Funds
$
89,296
$
193,836
Application of Funds:
Non - operating expenses -- Form G-2
$
6,682
$
6;279
Transfer to water debt service .fund
23,597
25,000
Transfer to garage debt service fund
15,000
15,000
Appropriation to Central Garage
1,825
Increase in fixed assets
17,301
31,454
Increase in working capital
24,891
116,103
Total Application of Funds
$
89,296
$
193;836
Increase
Increase
(Decrease)
(Decrease)
Various Elements of Net Increase in Working Capital:
Cash
$
(1,349)
$
(5,828)
Accounts receivable
(14,907)
17,786
Investments
28,000
Inventory
535
372
Prepaid expense
(28,547)
13,309
Accounts payable
(13,771)
39,544
Due to other funds
54,930
50,920
$
24,891
$
116,103
CITY OF COLUMBIA HEIGHTS, MINNESOTA
A
ANNUAL FINANCIAL REPORT
Form G -4
WATER UTILITY FUND
STATEMENT OF CHANGES IN ASSETS RESTRICTED FOR GENERAL BOND DEBT SERVICE
For the Year Ended December 31, 1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA 63
Cash
General
Total
Cash Balance, January 1, 1977
$
32,641
Cash Receipts:
Service
$ 26,713
Transfer from operating cash
6,682
Interest earnings
1,096
Sale of investments
23,000
Transfer from General Bond Debt Service
cash
27,575
Total Cash Available
$
90,994
Cash Disbursements:
Principal payments
$
25,000
Interest payments
1,713
Fiscal agents' fees
35
Purchased investments
9,000
Transfer to fiscal agent
27,575
Total Disbursements
$
63,323
Cash Balance, December 31, 1977
$
27,671
Investment Balance, January 1, 1977
$
23,000
Additions
9,000
Deductions
23,000
Investment Balance, December 31, 1977
$
9,000
Total Restricted Assets, December 31, 1977
$
36,671
(Form G)
CITY OF COLUMBIA HEIGHTS, MINNESOTA 63
Cash
General
with
Bond
Fiscal
Debt
Agent
Service
$ 26,713
$ 5,928
6,682
1,096
23,000
27,575
$ 54,288 $ 36,706
$ 25,000 $ -
1,713
35
9,000
27,575
$ 26,713 $ 36,610
$ 27,575 $ _ 96
$ 23,000
9,000
23,000
$ 9,000
$ 27,575 $ 9,096
ANNUAL FINANCIAL REPORT
SEWER UTILITY FUND
COMPARATIVE BALANCE SHEET
December 31, 1977 and 1976
Form H
1977 1976
ASSETS
Current Assets:
Cash - Treasurer's balance -- Form A -1
$ 587
$
4,004
Investments (at cost) -- Form A -3
18,450
332,450
Accounts receivable:
Unbilled services
76,829
70,221
Total Current Assets
$ 95,866
$
406,675
Deferred Assets:
Due from Metropolitan Waste Control Commission:
Reserve capacity
36,830
38,097
Interceptor acquisition contract
307,073
311,506
Total Deferred Assets
$343,903
$
349,603
Total Assets
$439,769
$
756,278
LIABILITIES, RESERVES, AND RETAINED EARNINGS
Current Liabilities:
Accounts payable
$ 642
$
3,895
Accrued salaries payable
1,395
1,285
Accrued Social Security taxes payable
151
151
Due to Metropolitan Waste Control Commission:
operating cost adjustment (1976 and 1975)
4,773
33,618
Total Current Liabilities
$ 6,961-
$
38,949
Deferred Credits:
Revaluation gain:
Interceptor acquisition by Metropolitan
Waste Control Commission
307,073
311,506
Retained Earnings -- Form H -1
125,735
405,823
Total Liabilities, Reserves, and
Retained Earnings
$439,769
$
756,278
CITY OF COLUMBIA HEIGHTS, MINNESOTA 64 ANNUAL FINANCIAL REPORT
Form H -1
SEWER UTILITY FUND
COMPARATIVE STATEMENT OF CHANGES IN RETAINED EARNINGS
For the Years Ended December 31, 1977 and 1976
Retained Earnings, January 1
Add:
Net income for the year -- Form H -2
Reimbursement by Other Governmental Unit:
Prior year storm sewer construction
Total Balance and Additions
Deduct:
Appropriations to Capital Projects:
Fifth street storm sewer
Project 712 storm sewer
LaBelle park project
P.I.R. fund
Transfer to debt services funds
Appropriation to Central Garage
Additions to Fixed Assets
Metropolitan Waste Control Commission
Adjustment for actual experience in
1976 and 1975
Total Deductions
Retained Earnings, December 31 -- Form H
t CITY OF COLUMBIA HEIGHTS, MINNESOTA
1977 1976
$ 405,823 $ 383,963
56,275 98,540
12,786
$ 474,884 $ 482,503
$ 260,000 $ -
35,043
11,000
1,609
30,000 30,000
1,760
6,573 11,453
4,773 33,618
$ 349,149 $ 76,680
$ 125,735 $ 405,823
65 ANNUAL FINANCIAL REPORT
SEWER UTILITY FUND
COMPARATIVE STATEMENT OF REVENUE AND EXPENSE
For the Years Ended December 31, 1977 and 1976
Form H -2
1977 1976
Operating Revenues:
Sewer service charges - general customers
and interdepartmental $ 447,211 $ 454,728
Refunds and Reimbursements:
Metropolitan Waste Control Commission:
Interceptor maintenance 2,886 2,886
S.A.C. charge refund 765 1,900
Total Operating Revenues $ 450,862 $ 459,514
Operating Expenses:
Disposal - Metro Waste Control Commission
$
287,359
$
242,056
Collections:
Personal services
86,542
86,094
Other services and charges
15,296
14,616
Supplies
13,179
17,868
Administration:
Personal services
11,095
10,796
Other services and charges
6,945
16,897
Supplies
317
818
Total Operating Expenses
$
420,733
$
389,145
Operating Income
$
30,129
$
70,369
Add: Non - operating Income:
Interest Earnings - Investment Trust Fund
15,284
17,447
Metro Waste Control Commission 4
Interest on deferred current value credit
8,921
8,921
Interest on reserve capacity deferred charges
1,557
1,464
Other Miscellaneous
384
339
Total Non - Operating Income
$
26,146
$
28,171
Net Income -- Form H -1
$
56,275
$
98,540
CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
Form H -3
SEWER UTILITY FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Years Ended December 31, 1977 and 1976
1977 1976
SOURCE OF FUNDS:
Operating income -- Form H -2
$ 30,129
$
70,708
Non - operating income -- Form H -2
26,146
27,832
Decrease in interfund loans
250,000
Reimbursement by other Government unit:
Prior year storm sewer construction
12,786
Metropolitan Waste Control Commission:
Decrease in long -term contract receivable
4,433
13,351
Decrease in deferred receivable - Reserve capacity
charge
1,267
3,221
Decrease in working capital
278,821
Total Source of Funds
$ 353,582
$
365,112
APPLICATION OF FUNDS:
Decrease in deferred credit - revaluation
gain on sale of fixed assets
$ 4,433
$
13,351
Adjust prior years disposal charges
4,773
33,618
Appropriation to Capital Projects:
Fifth street storm sewer
260,000
Project 712 storm sewer
35,043
LaBelle park project
11,000
P.I.R. fund
1,609
Transfer to debt services funds
30,000
30,000
Appropriation to Central Garage
1,760
Additions to fixed assets
6,573
11,453
Increase in working capital
275,081
Total Application of Funds
$ 353,582
$
365,112
Increase
Increase
Various Elements of Net Change in Working Capital:
(Decrease)
(Decrease)
Cash
$ (3,417T
$
1,748
Investments
(314,000)
290,000
Accounts receivable
6,608
8,083
Accounts payable
3,143
(1,541)
Due to Metro Waste Control Commission
28,845
(23,209)
$(278,821)
$
275,081
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
67
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
11,TRAGOIRAMENTAL SE R171cE FUND
The Central Garage Fund is a self sustaining fund providing service
to other departments within the city and for which user fees are
paid by the using department. This fund was established in 1977•
TABLE OF CONTENTS
Financial Statements:
Central Garage Fund:
Balance Sheet
Statement of changes in Municipality's
Contribution
Statement of changes in Retained Earnings
Statement of Operations
See also the Notes to Financial Statements.
Page
Form 1
68
Form 1 -1
69
Form 1 -1
69
Form 1 -2
70
CENTRAL GARAGE FUND
BALANCE SHEET
December 31, 1977
ASSETS
Current Assets:
Cash - Treasurer's balance - -Form A -1
Accounts receivable
Inventory (at cost):
Material and supplies
Total Current Assets
LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS
Current Liabilities:
Accounts payable
Accrued salaries payable
Accrued Social Security taxes payable
Total Current Liabilities
Contributions:
Municipality's contribution - -Form I -1
Retained Earnings - -Form I -1
TOTAL LIABILITIES, CONTRIBUTIONS
AND RETIANED EARNINGS
CITY OF COLUMBIA HEIGHTS, MINNESOTA
11
Form I
1977
$ 59
8
27,345
D 0 -7 L 1 7
$ 3,442
873
94
$ 4,409
22,000
1,003
$ 27,412
ANNUAL FINANCIAL REPORT
Form I -1
CENTRAL GARAGE FUND
STATEMENT OF CHANGES IN MUNICIPALITY'S CONTRIBUTION
For the Fiscal Year Ended December 31, 1977
Balance - January 1, 1977 $
1977 Contribution from user Funds:
General Fund $ 18,260
Civil Defense 155
Water Utility 1,825
Sewer Utility 1,760
Balance - December 31, 1977 - -Form I $ 22,000
CENTRAL GARAGE FUND
STATEMENT OF CHANGES IN RETAINED EARNINGS
For the Fiscal Year Ended December 31, 1977
Balance of Retained Earnings - January 1, 1977 $ -
Deduct:
Excess of Costs over Net Billings to Departments - -Form I -2 1,003
Balance of Retained Earnings - December 31, 1977 - -Form I $ 1,003
6 CITY OF COLUMBIA HEIGHTS, MINNESOTA 69
0
ANNUAL FINANCIAL REPORT
Form I -2
CENTRAL GARAGE FUND
STATEMENT OF OPERATIONS
For the Fiscal Year Ended December 31, 1977
BILLINGS TO DEPARTMENTS
Operating Costs:
Mechanics Labor
Other services and charges
Supplies
Contractual Services
Total Operating Costs
1977
$ 87,229
$ 57,803
16,746
9,003
2,757
$ 86,309
NET,BILLINGS OVER OPERATING COSTS $ 920
ADD: NON- OPERATING INCOME:
Sale of Materials $ 83
Net Income - -Form I -1 $ 1,003
CENTRAL GARAGE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1977
Source of Funds: 1977
Net income $ 1,003
Contributions 22,000
Total Source of Funds $23,003
Application of Funds:
Increase in working capital $23,003
Total Application of Funds $23,003
Various Elements of Net Change in Working
Capital:
Cash
Accounts receivable
Inventory
Accounts payable
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
70
Increase
(Decrease)
$ 59
8
27,345
(4,409)
fi 91 nni
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
TRIST .dill :aGE:TCI' F1111S
The Trust and Agency Funds of the city are primarily agency funds
which account for the collection of receipts for other agencies,
such as State of Minnesota building permit surcharges, Metropolitan
Waste Control Commission S.A.C. charges, state -share insurance tax:
etc. The agency funds, when collected, are then remitted to the
proper agency.
TABLE OF CONTENTS
Page
Financial Statements:
Combined Balance Sheet Form J 71
Combined Statement of Cash Receipts and
Disbursements Form J -1 72
See also the Notes to Financial Statements.
Fo rm J
TRUST AND AGENCY FUNDS
COMBINED BALANCE SHEET
December 31, 1977
Investment
Total Trust Escrow
ASSETS
Current Assets:
Cash - Treasurer's balance (deficit) $ (14,825) $ (14,325) $ (500)
Accounts receivable 500 500
Accrued interest receivable 14,325 14,325
Total Assets $ - $ - $ -
MTV OF COLUMBIA HEIGHTS, MINNESOTA 71
ANNUAL FINANCIAL REPORT
Form J -1
TRUST AND AGENCY FUNDS
COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA
72
ANNUAL FINANCIAL REPORT
Permit
Surcharge
Investment
And S.A.C.
Total
Trust
Escrow
Charges
Cash - Treasurer's Balance
January 1, 1977
$
(18,224)
$
(18,578)
$ 354
$ -
Less: Investments allocated
from other funds
(2,031,518)
(2,031,518)
Balance
$
(2,049,742)
$
(2,050,096
$ 354
$ -
Receipts:
Gain on sale of investments
$
6,054
$
6,054
$ -
$ -
Interest on investments
108,561
108,561
Purchased interest received
916
916
Sale of investments
1,917,735
1,917,735
Permit Surcharges collected
3,047
3,047
38,981
S.A.C. charges collected
38,981
Total Receipts
$
2,075,294
$
2,033,266
$ -
$ 42,028
Total Cash Available
$
25,552
$
(16,830)
$ 354
$ 42,028
Disbursements:
Refund deposit - blasting claims
$
854
$
-
$ 854
$ -
Purchase interest
832
832
Interest allocated to other funds
114,186
114,186
Purchase of investments
1,682,753
1,682,753
Remittance of licenses and
3,047
fees to state
3,047
Remittance of S.A.C. charge to
38,981
38,981
Metro Waste Control Commission
Total Disbursements
$
1,840,653
$
1,797,771
$ 854
$ 42,028
Balance
$
(1,815,101)
$
(1,814,601)
$ (500)
$ -
Add: Investments allocated to
$
$ -
other funds
$
1,800,276
$
1,800,276
Cash - Treasurer's Balance
December 31, 1977 - -Form J
$
(14,825)
$
(14,325)
$ (500)
$ -
CITY OF COLUMBIA HEIGHTS, MINNESOTA
72
ANNUAL FINANCIAL REPORT
i
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUA FINANCIAL REPORT
YEAR NDED DECEMBER 31, 1977
CAPITAL PROJECT FUNDS
SPECIAL .aSS6SS11E1T BONDS
The Permanent Improvement Revolving Fund is used to advance to
local improvement funds the cost of improvements for which
assessments are to be levied.
Capital Project Funds - Special Assessment Bonds are established
according to Chapter 8 of the home rule charter and Minnesota
Statutes, Chapter 429. They are used to record the proceeds of
bonds used to construct public improvements which, in turn, are
fully or partially assessed against individual benefited properties.
TABLE OF CONTENTS
Financial Statements:
Combined Balance Sheet
Statement of Changes in Fund Balance
Statement of Cash Receipts and Disbursements
See also the Notes to Financial Statements.
Page
Form
K
73
Form
K-1
74
Form
K -2
75
Form K
CAPITAL PROJECT FUNDS - SPECIAL ASSESSMENT BONDS
COMBINED BALANCE SHEET
December 31, 1977
Permanent
Permanent
Improvement
Improvement
Revolving
Revolving
Total Fund
Bond Fund
ASSETS
Current Assets:
Cash:
Treasurer's balance (deficit) --
Form A -1 $ (1,481)
Deposited with fiscal agent 64,415
Investments (at cost) -- Form A -3 9,000
Taxes receivable deferred 316,010
Special assessments receivable:
Delinquent 90,411
Deferred 388,481
Due from U.S. Department of Commerce EDA 37,525
Total Assets $ 904,361
LIABILITIES AND FUND BALANCE
$ (137,183) $ 135,702
64,415
9,000
316,010
90,411
388,481
37,525
5
179.2i4
S 52;_127
Current Liabilities:
Accounts payable $ 275 $ 275 $ -
Contracts payable 69,659 69,659
Deposits 8,511' 8,511
Matured bonds and interest payable 64,415 64,415
Bonds payable 345,000 345,000
Due to Capital Improvements Bond Fund 85,000 85,000
Total Current Liabilities: $ 572,860 $ 163,445 $ 409,415
Fund Balance:
Future interest on bonds 29,975 29,975
Unappropriated 301,526 215,789 85,737
Total Liabilities and Fund
Balance $ 904,361 $ 379,234 $ 525,127
CITY OF COLUMBIA HEIGHTS, MINNESOTA
73
ANNUAL FINANCIAL REPORT
Form K -1
CAPITAL PROJECT FUNDS - SPECIAL ASSESSMENT BONDS
STATEMENT OF
CHANGES IN FUND
BALANCE
For the Year
Ended December
31, 1977
Permanent
Permanent
Improvement
Improvement
Revolving
Revolving
Total
Fund
Bond Fund
Fund Balance - Unappropriated,
January 1, 1977
$ 478,991
$ 353,570
$1259421
Add:
Increase in assessments
223,674
223,674
Grant - U.S. Department of Commerce EDA
91,000
91,000
Interest and penalties on special
assessments
36,850
36,850
Interest earned on investments
6,125
6,125
Interest earned on temporary loans
1,980
1,980
Write off non - Columbia Heights property
and unknown deposits
5,297
5,297
Appropriations from:
Permanent Improvement Revolving Fund
98,000
98,000
Sewer Utility Fund
260,000
260,000
Recovery old assessments written off
20,000
20,000
Prior year expenditures re- established
124,289
124,289
Total Balance and Additions
$1,346,206
$1,114,680
$231,526
Deduct:
Capital project expenditures
Prior years
$ 124,289
$ 124,289
$ -
Current year:
Construction contracts
616,752
616,752
Other project costs
39,940
39,940
Administration costs
19,505
19,505
Deferred tax levies (1977) cancelled
145,620
145,620
Fiscal agent charges
169
169
Appropriation to Permanent Improvement
Revolving Bond Fund
98,000
98,000
Excess Construction Costs
321
394
Adjust assessments
84
Total Deductions
$1,044,680
$ 898,891
$145,789
Fund Balance - Unappropriated,
December 31, 1977 -- Form K
$ 301,526
$ 215,789
$ 85,737
1 CITY OF COLUMBIA HEIGHTS, MINNESOTA
74
ANNUAL FINANCIAL REPORT
Form K -2
CAPITAL PROJECT FUNDS - SPECIAL ASSESSMENT BONDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1977
I CITY OF COLUMBIA HEIGHTS, MINNESOTA 75
ANNUAL FINANCIAL REPORT
Permanent
Permanent
Improvement
Improvement
Revolving
Revolving
Total
Fund
Bond Fund
Cash -- Treasurer's balance, January 1, 1977
$
1,026
$ (123,455)
$ 124,481
Receipts:
Special assessments:
Collected by county:
Current
40,007
40,007
Delinquent
39,893
39,893
Collected by city -- prepayments
211,969
211,969
Penalties and Interest
3,590
3,590
Revenue from use of money:
Interest earnings -- Investment Trust
Fund
6,125
6,125
Investment earnings -- temporary loans
1,980
1,980
Investment matured
5,000
5,000
Grant - U.S. Department of Commerce EDA
53,475
53,475
Transfers in from:
Permanent Improvement Revolving Fund
98,000
98,000
Repayment of temporary loan:
Water utility fund
48,000
48,000
Appropriation from Sewer Utility
260,000
260,000
Temporary -loan from Sullivan Lake Fund
85,000
85,000
Reversal of investment trust allocation
2,000
2,000
Total Receipts
$
855,039
$ 693,934
$ 161,105
Total Cash Available
$
856,065
$ 570,479
$ 285,586
Disbursements:
Debt Service:
Bonds matured
$
120,000
$ -
$ 120,000
Interest expense
20,715
20,715
Fiscal agent charges
169
169
Construction contracts payments
547,286
547,286
Other project expenditures
39,940
39,940
Administration costs
19,505
19,505
Reduce deposits
128
128
Purchase special assessments from
General Fund
2,803
2,803
Transfer to:
Permanent Improvement Revolving
Debt Service
98,000
98,000
Investment trust allocation
9,000
9,000
Total Disbursements
$
857,546
$ 707,662
$ 149,884
Cash -- Treasurer's balance, December 31,
1977 -- to Form K
$
(1,481)
$ (137,183)
$ 135,702
I CITY OF COLUMBIA HEIGHTS, MINNESOTA 75
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
GENERAL DEBT SERVICE F Nus
General Debt Service Funds are used to account for the collection
of tax levies and other revenues and to record the payment of
principal and interest on outstanding General Obligation Bonds.
TABLE OF CONTENTS
Financial Statements:
Combined Balance Sheet
Statement of Changes in Fund Balance -
Unappropriated
Statement of Cash Receipts and Disbursements
See also Notes to the Financial Statements.
Page
Form L 76
Form L -1 78
Form L -Z 80
GENERAL DEBT SERVICE FUNDS
COMBINED BALANCE SHEET
December 31, 1977
ASSETS
Current Assets:
Cash:
Treasurer's balance - -Form A -1
Deposited with fiscal agent
Investments (at cost) -- Form A -3
Taxes receivable- deferred
Taxes receivable - delinquent
Less: Allowance for uncollectible taxes
Due from other funds
Due from other Gov't units
Total Assets
LIABILITIES AND FUND BALANCE
Current Liabilities:
Matured bonds and interest payable
Bonds payable
Fund balance:
Future interest on bonds
Unappropriated -- Form L -1
Total Liabilities and Fund Balance
Total
$ 2,114
274,523
306,000
1,895,277
5,708
(5,708)
151,000
23,629
$2,652,543
$ 274,523
1,900,000
282,663
195,357
Aq9 q41
.CITY OF COLUMBIA HEIGHTS, MINNESOTA 76 ANNUAL FINANCIAL REPORT
Form L
Capital
Park
Storm Sewer
State
Aid
City
Garage
Improvement
Bonds of
Bonds of
Bonds of
Bonds of
Bonds of
1962
1965
1969
1972
1976
$ 491
$ 346
$
502
$
89
$ 686
64,355
460
62,580
147,128
33,000
56,000
10,000
67,000
140,000
29,000
701,077
308,300
856,900
1,040
1,128
976
2,564
0,040)
(1,128)
(976)
(2,564)
66,000
85,000
13,169
10,460
$ 62,491
$ 900,947
$
21,422
$
437,969
$ 1,229,714
$ -
$ 64,355
$
460
$
62,580
$ 147,128
60,000
645,000
20,000
260,000
915,000
2,100
109,165
920
33,400
137,078
391
82,427
42
81,989
30,508
$ 62,491
$ 900,947
$
21,422
$
437,969
$ 1,229,714
CITY OF COLUMBIA
HEIGHTS, MINNES0TA
77
ANNUAL FINANCIAL REPORT
GENERAL DEBT SERVICE FUNDS
STATEMENT OF CHANGES IN FUND BALANCE - UNAPPROPRIATED
For the Year Ended December 31, 1977
Fund Balance- Unappropriated, January 1, 1977
Add:
General property taxes:
Collected by county
Current ad valorem
Delinquent ad valorem
Interest earnings- Investment Trust Fund
Appropriation from:
Water utility fund
Sewer utility fund
Total Balance and Additions
Deduct:
Deferred tax levies (1977) cancelled
Fiscal agent charges
Adjust receivable from water fund
to repayment schedule
Total Deductions
Fund Balance - Unappropriated,
December 31, 1977 -- Form L
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Total
$ 261,189
220,745
4,757
19,115
15,000
30,000
$ 550;806
$ 350,075
424
4,950
$ 355,449
$ 195,357
78 ANNUAL FINANCIAL REPORT
Form L -1
25,827
37,527
23,840
Capital
Park
Storm Sewer State Aid
City Garage
Improvement
Bonds of
Bonds of Bonds of
Bonds of
Bonds of
1962
1965 1969
1972
1976
$ 2,246
$ 98,310 $ 32
$ 88,902
$ 71,699
25,827
37,527
23,840
133,551
866
937
818
2,136
490
3,163
36 4,236
11,190
15,000
15,000
15,000
$ 29,429
$ 154,937
$ 68 $ 147,796
$ 218,576
$ 29,000 $ 67,475
38 85
4,950
$ 29,038 $ 72,510
$ 391 $ 82,427
S -
26
$ 26
$ 42
CITY OF COLUMBIA HEIGHTS, MINNESOTA 79
$ 65,700 $ 187,900
107 168
$ 65,807 $ 188,068
$ 81,989 $ 30,508
ANNUAL FINANCIAL REPORT
GENERAL DEBT SERVICE FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1977
Cash -- Treasurer's Balance, January 1, 1977
Receipts:
General property taxes:
Collected by county:
Current ad valorem
Delinquent ad valorem
State of Minnesota - State Aid
.Interest earnings- Investment Trust Fund
Transfers in from:
Water utility fund
Sewer utility fund
Hilltop repay loan
Reversal of investment trust allocation
Total Receipts
Total Cash Available
Disbursements:
Debt Service:
Bonds matured
Interest expense
Fiscal agent charges
Investment trust allocation
Temporary loan to Fund 595
Total Disbursements
Cash -- Treasurer's Balance,
December 31, 1977 -- Form L
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
Total
$ 54,014
220,745
4,757
10,920
19,115
15,000
30,000
6,629
345,000
$ 652,166
$ 706,180
$ 230,000
82,642
424
306,000
85,000
$ 704,066
$ 2,114
80 ANNUAL FINANCIAL REPORT
Form L -2
Storm
City
Capital
Park
Sewer
State Aid
Garage
Improvement
Bonds of
Bonds of
Bonds of
Bonds of
Bonds of
1962
1965
1969
1972
1976
$
33,871
$ 7,440
$ 10,717
$ 882
$
1,104
25,827
37,527
23,840
133,551
866
937
818
2,136
10,920
490
3,163
36
4,236
11,190
15,000
15,000
15,000
6,629
50,000
70,000
225,000
$
27,183
$ 113,256
$ 10,956
$128,894
$
371,877
$
61,054
$ 120,696
$ 21,673
$129,776
$
372,981
$
25,000
$ 40,000
$ 10,000
$ 50,000
$
105,000
2,525
24,265
1,145
12,580
42,127
38
85
26
107
168
33,000
56,000
10,000
67,000
140,000
85,000
$
60,563
$ 120,350
$ 21,171
$129,687
$
372,295
$
491
g 346
502
S 89
$ 686
CITY OF COLUMBIA
HEIGHTS, MINNESOTA
81
ANNUAL FINANCIAL REPORT
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1977
GENERAL LONG-TERM DEBT
GROUP OF ACCUNTS
General Obligation Bonds of the City are reflected in the
balance sheets of the individual funds servicing them.
They are as follows:
General Obligation Water Bonds
Serviced by the Water Utility Fund,
Form G $ 50,000
General Obligation Special Assessment
Bonds serviced by Debt Service
Funds - Special Assessment Bonds,
Form K 345,000
General Obligation Bonds
Bonds serviced by General Debt Service
Funds
Form L 1,900,000
Total General Obligation Bonds $ 2,295,000
THE CITY OF COLUM IA HEIGHTS, MINNESOTA
ANNUA FINANCIAL 4PORT
YEAR tNDED DECEMBER 31, 1977
S TaTISTIfAI SECTION
TABLE OF CONTENTS
Page
Assessed Value and Market Value
of all Taxable Property
Table
I
83
Tax Rates
Table
II
85
City Tax Levy
Table
III
86
Tax Levies and Tax Collections
Table
IV
87
Special Assessment Collections
Table
V
87
Revenues - Other than Property Taxes
and Special Assessments
Table
VI
89
Expenditures for Selected Functions
Table
VII
89
Summary of Debt Service Requirements
to Maturity
Table
VIII
90
Statement of Legal Debt Margin
Table
IX
92
Schedule of Insurance in Force
Table
X
93
Principal City Officials and-Surety
Bonds
Table
XI
95
Miscellaneous Statistical Facts
Table
XII
96
ASSESSED VALUE AND MARKET VALUE
OF ALL TAXABLE PROPERTY
YEARS 1972 THROUGH 1977
Population
Real Property
Assessed value
Area -wide allocation:
Contribution
Distribution
Market value
Personal Property
Assessed value
Market - commercial
Total Real and Personal Propert
Assessed value
Market value
Ratio of Total Assessed
Value to Total
Market value
Per Capita Valuations
Assessed value
Market value
1972
24,079
$ 53,793,085
$155,846,893
$ 1,279;733
$ 2,975,380
$ 55,072,818
$158,822,273
3467
1973
24,079
$ 56,287,399
$162,253,840
$ 1,278,820
$ 2,973,256
$ 57,566,219
$165,227,096
3484
$ 2,287 $ 2,391
$ 6,596
I CITY OF COLUMBIA HEIGHTS, MINNESOTA
83
$ 6,862
ANNUAL FINANCIAL REPORT
i Y
Table I
1974
1975(1)
1976
1977
23,503
23,316
22,324
21,890
$ 57,049,639
$
62,748,967
$
67,746,917
$
68,981,490
$(
850,697)
$(
850,697)
$(
850,697)
$
2,619,939
$
2,355,131
$
2,156,005
$164,040,324
$181,360,401
$198,140,355
$219,125,884
$ 1,294,472
$
1,230,101
$
1,220,899
$
1,213,202
$ 3,olo,400
$
2,860,700
$
2,839,300
$
2,821,400
$ 58,344,111
$
65,748,310
$
70,472,250
$
71,500,000
$167,050,724
$184,221,101
$200,979,655
$221,947,284
:3492
:3569
:3506
:3221
$ 2,482
$ 7,108
$ 2,820
$ 7,901
$ 3,157
$ 9,003
$ 3,266
$ 10,139
(1) 1975 and subsequent, property values include net amount allocated
pursuant to the "fiscal disparities law ", Laws 1971 Extra Session,
chapter 24, from area -wide (metropolitan) "pool ".
I CITY OF COLUMBIA HEIGHTS, MIXWESOTA
84
ANNUAL FINANCIAL REPORT
Table II
TAX
RATES
YEARS
1968
THROUGH 1977
Fiscal
Metro
Year
City
School
County Council
Other(B)
Total
1968
56.98
164.83
59.28
1.39
282.48
1969
60.10
180.74,
66.08
1.28
308.20
1970
65.08
209.33
63.05
1.41
338.87
1971
66.77
211.08
62.78
1.43
342.06
1972
66.59
162.66
67.59
5.01
301.85
1973
20.14
49.88
19.81
1.79
.74
92.36(A)
1974
20.10
53.49
18.47
2.52
.99
95.54
1975
22.40
54.12
19.96
4.42
.60
101.50
1976
21.75
49.16
19.73
2.73
.69
94.06
1977
20.41
47.26
19.84
3.00
.61
91.12
A Determination
of assessed
valuation
calculation
changed by state
law
enacted in
1971, Extra
Session,
Chapter 31,
as amended
B Rice
Creek Watershed and
1/3 mill for
the Housing and Redevelopment
Authority
CITY OF COLUMBIA
HEIGHTS,
MINNESOTA
ANNUAL FINANCIAL REPORT
85
Table
III
CITY TAX LEVY
YEARS
1968 THROUGH
1977
City
Bonds
Fiscal
Levy
General
Police
Fire
Civil
and
Year
Total
Fund
Relief
Relief
Defense
Interest
Other(A)
1968
$ 832,317 $
732,317
$16,500
$16,500
$ 1,500
$ 55,000
$ 10,500
1969
836,234
722,434
20,800
20,800
2,000
55,200
15,000
1970
935,177
822,177
22,500
22,500
3,000
55,000
10,000
1971
1,134,670
972,960
30,150
24,000
11,000
81,560
15,000
1972
1,105,517
846,967
50,000
30,000
11,000
152,550
15,000
1973
1,120,000
874,115
67,000
36,085
10,600
117,200
15,000
1974
1,156,540
899,045
67,000
42,700
17,000
115,795
15,000
1975
1,331,715
1,101,925
65,850
46,000
4,000
113,940
1976
1,429,510
896,270
66,000
47,000
20,240
300,000
100,000
1977
1,441,044
1,069,044
66,300
47,000
35,700
223,000
A All
for Storm Sewer
Construction
except 1976
the $100,000
is
for settlement of
Sullivan
Lake law suit.
CITY OF
COLUMBIA HEIGHTS, MINNESOTA 86
ANNUAL FINANCIAL REPORT
Year
Total Tax
Collected
Levy*
1974
$ 874,954
1975
1,022,810
1976
1,139,340
1977
1,136,825
TAX LEVIES AND TAX COLLECTIONS
Years 1974 Through 1977
Collections
of Current
Year's Taxes
During Fiscal
Period
$ 863,795
995,242
1,117,070
1,123,704
Percentage
of Levy
Collected
During Fiscal
Period
Collection
of Prior
Year's Taxes
During Fiscal
Period
$10,136
16,563
18,377
22,470
Total
$ 873,931
1,011,805
1,135,447
1,146,174
Tax levy has been adjusted by the 45% forgiveness (property tax replacement)
which is a revenue from other agencies and has been incorporated into Table VI
Fiscal
Period
1975
1976
1977
SPECIAL ASSESSMENT COLLECTIONS
Years 1975 Through 1977
Current Special
Assessments Becoming Due
During Fiscal Period
$ 90,045
107,784
114,673
Current Special
Assessments Collected
$49,149
60,320
70,635
Percentage of
Current Collected
During Fiscal
Period
54.6%
56.0%
61.6%
Information for a limited numbers of years is presented as undo effort would be
required to reconstruct this information from the prior system of record keeping.
A The City bills the property owner directly when a special assessment installment
becomes due. If the installment becomes delinquent, it is certified to the county
for inclusion on the following years property tax statement and is shown as a
delinquent collection.
CITY OF COLUMBIA HEIGHTS, MINNESOTA 87 ANNUAL FINANCIAL REPORT
Delinquent Specials
Collected During
Fiscal Period(A)
$71,642
67,434
65,345
Total Special
Assessments Delinquent
At End of Fiscal Period
$116,642
111,221
98,553
6 CITY OF COLUMBIA HEIGHTS, MINNESOTA
::
Table IV
Table V
Deferred Special Assessments
Collected Balance End
Fiscal Period of Fiscal Period
$ 75,305
$372,361
Ratio
388,565
104,930
Accumulated
Ratio
Delinquent
of Total
Accumulated
Taxes to
Collections
Delinquent
Current Year
Jo Tax Levy
Taxes
Tax Levy
.9988:1
$56,751
.0648:1
.9892:1
66,224
.0647:1
•9965:1
70,606
.0619:1
1.0082:1
59,211
.0520:1
Delinquent Specials
Collected During
Fiscal Period(A)
$71,642
67,434
65,345
Total Special
Assessments Delinquent
At End of Fiscal Period
$116,642
111,221
98,553
6 CITY OF COLUMBIA HEIGHTS, MINNESOTA
::
Table IV
Table V
Deferred Special Assessments
Collected Balance End
Fiscal Period of Fiscal Period
$ 75,305
$372,361
206,197
388,565
104,930
388,481
ANNUAL FINANCIAL REPORT
Table VI
REVENUES -
OTHER THAN PROPERTY TAXES
AND
SPECIAL ASSESSMENTS
Years
1968 Through 1977
Charges for Licenses
Fiscal
Revenue From
Use of Money
Service and and
Fines and
Profits of
Year
Other Agencies
and Property
Other Revenue Permits
Forfeitures Enterprises
1968
$ 473,744
$ 8,577
$153,380
$44,036
$16,308
$256,569
1969
428,538
52,557
160,929
40,016
8,573
321,956
1970
667,175
20,421
294,685
35,278
22,821
341,996
1971
514,253
9,420
282,148
41,438
19,920
287,261
1972
817,715
44,535
311,790
33,823
13,557
238,732
1973
1,285,224
37,473
312,824
37,216
21,680
308,080
1974
1,070,363
112,407
329,122
41,259
20,181
361,747
1975
1,304,408
89,266
341,341
47,807
29,573
298,283
1976
1,635,915
172,632
295,683
62,079
47,096
243,295
1977
1,883,756
144,293
342,277
71,228
50,406
127,166
Table VII
EXPENDITURES FOR SELECTED
FUNCTIONS
Years 1968 Through 1977
Fiscal
Year
General
Government
Public
Safety
Public
Works
Sanitation
Library
Parks and
Recreation
1968
$141,314
$368,856 $251,718
$ 64,127
$ 44,926
$206,592
1969
152,933
398,874
299,088
78,805
49,588
249,785
1970
186,954
468,848
317,633
166,834
60,186
400,795
1971
203,817
490,800
325,901
175,458
78,807
291,204
1972
226,527
605,120
357,504
196,700
75,500
333,047
369,402
1973
1974
353,833
311,850
685,606
698,704
391,057
432,422
186,850
208,752
77,300
82,500
420,323
1975
310,540
860,723
457,316
224,569
147,851
463,877
1976
374,191
875,714
511,377
227,055
103,280
512,066
1977
406,864
981,059
577,072
233,598
109,635
537,332
CITY OF
COLUMBIA HEIGHTS, MINNESOTA
89
ANNUAL FINANCIAL REPORT
1978
1979
1980
1981
1982
1983
1984
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
December 31, 1977
General
Special
Obligation
Bonds
Assessment
Bonds
Principal
Interest
Principal
Interest
$ 310,000
$ 76,028
$120,000
$14,615
310,000
64,562
120,000
8,465
285,000
53,357
50,000
4,365
320,000
42,108
50,000
2,315
340,000
29,157
5,000
215
245,000
15,010
140,000
5,040
$1,950,000
$285,262
$345,000
$29,975
CITY OF COLUMBIA HEIGHTS, MINNESOTA 90
ANNUAL FINANCIAL REPORT
Table VIII
Total
Principal
Interest
Total
$ 430,000
$ 90,643
$ 520,643
430,000
73,027
503,027
335,000
57,722
392,722
370,000
44,423
414,423
345,000
29,372
374,372
245,000
15,010
260,010
140,000
5,040
145,040
$2,295,000
$315,237
$2,610,237
r1TV nc rni 11HRI® UFlnUT5_ MINNESOTA 91 ANNUAL FINANCIAL REPORT
STATEMENT OF LEGAL DEBT MARGIN
December 31, 1977
Assessed Value
Debt Limit 6,67% of Assessed Value (Note A)
Amount of Debt Limit Applicable to Debt Limit:
Total bonded debt $ 2,295,000
Less Note B:
General obligation water bonds $ 50,000
Special assessment bonds 345,000 395,000
Total Debt Applicable to Debt Limit
Legal Debt Margin
Table IX
$ 71,500,000`
$ 4,769,050
$ 1.900,000
$ 2,896,050
Note (A):
M.S.A. Section 475.53 (Limit on Net Debt)
"Subdivision 1. Generally. Except as otherwise provided in sections 475.51 to
475.70, no municipality, except a school district or a city of the first class,
shall incur or be subject to a net debt in excess of 6.67 percent of the assessed
value."
Note (B) :
M.S.A. Section 475.51 Definitions:
"Subdivision 4. 'Net Debt' means the amount remaining after deducting from its
gross debt the aggregate of the principal of the following:
(1) Obligations issued for improvements which are payable wholly or partly from
the proceeds of special assessments levied upon property specially benefitted
thereby, including those which are general obligations of the municipality
issuing them, if the municipality is entitled to reimbursement in whole or in
part from the proceeds of the special assessments.
(2) Warrants or orders having no definite or fixed maturity.
(3) Obligations payable wholly from the income from revenue- producing
conveniences.
(4) Obligations issued to create or maintain a permanent improvement revolving
fund.
(5) Obligations issued for the acquisition, and betterment of public water -works
systems, and public lighting, heating or power systems and of any combination
thereof or for any other public convenience from which a revenue is or may'be
derived.
(6) Amount of all money and the face value of all securities held as a sinking
fund for the extinguishment of obligations other than those deductible under this
subdivision."
includes valuation from "fiscal disparity" legislation; Minnesota laws 1971,
Extra Session, Chapter 24. See Table I.
CITY OF COLUMBIA HEIGHTS, M[NNESOTA 92 ANNUAL FINANCIAL REPORT
SCHEDULE OF INSURANCE IN FORCE
December 31, 1977
Type of Coverage
All Risk Coverage under the Public and
Institutional Property Policy
(900 Coinsurance -$500 Deductible)
Central Ave. On Sale
Central Ave. Liquor Store
40th Ave. Liquor Store
University Ave.Liquor Store
Policy Period
from to
1 -1 -77 12 -31 -77
1 -1 -77 2 -28 -77
Building
or Structure Contents
$ 20,000
80,000
45,000
50,000
$ 195,000
-x(90% Coinsurance -$500 Deductible)
City Hall
$ 408,240
$ 93,600
547 Mill St. N.E.
36,936
Library
388,800
136,800
City Garage
652,212
36,000
Liquor Store - Central
249,804
60,300
Liquor Store -40th Avenue
51,516
5,400
Liquor Store - University Avenue
84,564
8,100
Community Center
420,876
22,500
Parks (7)
279,252
1,440
Well house - LaBelle
1,944
Bandstand
9,720
Bath House - Silver Lake
23,328
Warming houses (2)
3,888
Lift stations (3)
7,776
3,240
Water tower
220,450
Pump stations (2)
41,796
25,920
Warehouse- cement
5,832
900
Warehouse -metal
2,916
Water meter vault
2,700
$2,889,850
$ 396,900
($100 Deductible)
Personal property consisting of road construction
equipment, maintenance equipment and other equip-
ment stored in municipal buildings
($500 Deductible on Police and Fire only)
Personal property consisting of motor vehicles
Figures above are 90% of values which total $3,286,750.
( CITY OF COLUMBIA HEIGHTS, MINNESOTA 93
$ 614,328
$ 304,070
ANNUAL FINANCIAL REPORT
Policy Period
Type of Coverage from to
Boiler explosion 1 -1 -77 12-31-77
Workmen's Compensation 1 -1 -77 12 -31 -77
Comprehensive Auto Liability 1 -1 -77 12-31 -77
Bodily Injury
Property Damage
Uninsured Motorists 1 -1 -77 12 -31 -77
Automobile Physical Damage 1 -1 -77 12 -31-77
Comprehensive Bus Liability 1 -1-77 3 -31 -77
4 -13 -77 12 -31 -77
Bodily Injury
Property Damage
Uninsured Motorist
Comprehensive General Liability
Bodily Injury
Property Damage
Statutory Liquor Legal Liability
Table X
$100,000 per accident (City
Hall, Field House, Municipal
Service Building.)
Statutory
$50/300,000
$ 50,000
$25/50,000
$35/300,000/200,000 ($500
deductible on Police and
Fire vehicles)
$50/300,000
$100/300,000
$ - 50',000
$25/50,000
1 -1 -77 12 -31 -77
$300,000 ($250 Deductible)
$ 50,000
1 -1 -77 12 -31-77 $300,000
The comprehensive general liability - includes the following additional coverages:
(a) Personel injury coverage to include false arrest, libel, slander, wrongful
entry or eviction or invasion of right of privacy (b) Loss of business income
(c) All employees as additional insureds (d) Comprehensive glass and neon sign
breakage (e) Miscellaneous property floater.
CITY OF COLUMBIA HEIGHTS, MINNESOTA 94
ANNUAL FINANCIAL REPORT
PRINCIPAL CITY OFFICIALS
AND SURETY BONDS
Year Ended December 31, 1977
Name
Official Title
Mayor and Council:
Bruce G. Nawrocki
Mayor
E. "Sebe'' Heintz
Councilman
Kenneth E. Hentges
Councilman
Walter S. Logacz
Councilman
Gayle R. Norberg
Councilman
Administration:
Stuart Anderson
Interim City Manager
Timothy Yantos
Administrative Assistant
John E. Schedler
City Clerk- Treasurer - Finance Director -
Liquor Operations Manager
Ronald Kalina
City Attorney
Earl Gustafson
Public Works Director
George Brown
City Engineer
Mildred Carlson
City Assessor
Stuart Anderson
Chief of Police
Donald Johnson
Chief of Fire
Max Thomas
(A)Liquor Store Manager
Arden Hovland
Building Inspector
Martin Gavic
Plumbing Inspector
R.E. Petersen
Heating Inspector
Gunner Pettersen
Electrical Inspector
Dean Otterson
City Planner
Mitch DeMars
Street Superintendent
Donald Jolly
Water and Sewer Superintendent
John Murzyn
Park Superintendent
Linda Hansen
Recreation Director
-Table XI
Amount of
Surety Bond
$25,000
25,000
25,000
In addition to the positions listed above where bond amounts appear, the City
has a $5,000 Faithful Performance Blank Position Bond on all City employees.
(A) Similar coverage for Assistant Liquor Store Manager.
CITY OF COLUMSIA HEIGHTS, MINNESOTA 95 ANNUAL FINANCIAL REPORT
MISCELLANEOUS STATISTICAL FACTS
1977
Date of Incorporation
Date of Adoption of City Charter
Form of Government
Fiscal Year Begins
Area of City
Miles of Streets and Alleys:
Trunk Highways
County
Other
Alleys
Miles of Sewers:
Storm Sewers
Sanitary Sewers
Watermain Miles
Building Permits:
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
Estimated Cost:
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA
AA
Table XII
March 14, 1898
July 21, 1921
Council- Manager
January 1
3.75 Square Miles
4.o
6.17
98.46
15.75
31.9
58.5
65.2
580
552
655
613
518
529
485
608
595
658
$ 5,071,947
1,864,357
1,251,172
4,044,282
2,180,740
2,032,525
2,916,519
3,148,524
3,412,415
4,701,644
ANNUAL FINANCIAL REPORT
MISCELLANEOUS STATISTICAL FACTS (CONTINUED)
Fire Protection:
Number of Stations
Number of Employees:
Full time
Volunteer
Police Protection:
Number of Stations
Number of Employees
Parks:
City Parks
Playground
County Park
Schools:
Senior High
Junior High
Elementary
Parochial Elementary
Employees: (as of December 31, 1977)
Regular
Part time
Temporary
Elections:
Registered voters - last city general election
Number of votes cast last city general election
Percentage of registered voters voting
Population:
1900
1920
1930
1940
1950
1960
1965 (mid- decade census)
1970 (census)
1972
1973
1974
1975
1976
1977
CITY OF COLUMBIA HEIGHTS, MINNESOTA 97
Table XII
1
8
22
1
23
13
1
1
1
2
5
1
102
42
30
17+
11,496
3,441
29.9%
123
2,968
5,613
6,035
8,175
17,533
23,283
23,997
24,079
24,079
23,503
23,316
22,324
21,890
ANNUAL FINANCIAL REPORT