HomeMy WebLinkAboutFinancial Statements December 31, 1971 VILLAGE OF OAK PARK HEIGHTS
FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 1971
L
RONALD J. DELAH U NT & CO., LTD.
CERTIFIED PUBLIC ACCOUNTANTS
NORTH ST. PAUL, MINNESOTA 55109
PHONE 777 -1337 2534 E. 7TH AVENUE
February 23, 1972
To the Honorable Mayor and Members of
the Village Council
Village of Oak Park Heights
Route #1
Stillwater, Minnesota
Gentlemen:
Enclosed are five copies of the financial statements for the Village of
Oak Park Heights for the year ended December 31, 1971. We have forwarded
an additional copy directly to the public examiner.
We wish to thank Mr. Heuer for the aid and cooperation he gave us during
our field work. We thank you for the audit engagement and if you have any
questions, please call us.
Very truly yours,
RONALD J. DE LA HUNT & CO., LTD.
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Ronald J. De La Hunt, CPA
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RONALD J. DELo,HUNT & CO., LTD.
• CERTIFIED PUBLIC ACCOUNTANTS
NORTH ST. PAUL, MINNESOTA 55109
PHONE 777 -1337 2534 E. 7TH AVENUE
To the Honorable Mayor and Members
of the Village Council
Village of Oak Park Heights
Route #1
Stillwater, Minnesota
We have examined the financial statements of the various funds of the
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, for the year ended December 31, 1971.
The examination, a limited general audit, was made in accordance with generally
accepted auditing standards and accordingly included such tests of the account-
ing records and such other auditing procedures as we considered necessary in
the circumstances.
In our opinion, the accompanying balance sheets and related statements
of revenue, expenditures, and surplus present fairly the financial position of
the various funds of the VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, on December 31,
1971, and the results of their operations for the year ended in conformity with
generally accepted governmental accounting principles.
RONALD J. DE LA HUNT & CO., LTD.
Certified Public Accountants
Date field work completed: January 25, 1972
Date report signed: February 23, 1972
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Paqe No.
GENERAL FUND:
Balance Sheet Exhibit 1 1
Statement of Cash Receipts and Disbursements Exhibit 2 2
Comparison Budget to Actual Expenditures Schedule 2.1 5
DEBT SERVICE FUNDS:
Combined Balance Sheet Exhibit 3 6
Statement of Bonds and Interest Maturities,
Deferred Tax Levies and Allowance for
Uncollectible Taxes Schedule 3.1 7
Statement of Cash Receipts and Disbursements Exhibit 4 12
IMPROVEMENT FUNDS:
Combined Balance Sheet Exhibit 5 13
Summary of Construction Costs by Projects Schedule 5.1 14
Statement of Cash Receipts and Disbursements Exhibit 6 15
PUBLIC ENTERPRISE FUNDS:
Combined Balance Sheet Exhibit 7 16
Statement of Fixed Assets and Allowance for
Depreciation Schedule 7.1 17
Statement of Cash Receipts and Disbursements Exhibit 8 18
STATEMENT OF GENERAL FIXED ASSETS Exhibit 9 19
COMBINED BALANCE SHEET, ALL FUNDS (CONDENSED FORM) Exhibit 10 20
Summary of Investment Transactions Schedule 10.1 21
Schedule of Interfund Transfers Schedule 10.2 22
SUMMARY STATEMENT OF RECEIPTS AND DISBURSEMENTS Exhibit 11 23
STATEMENT OF BONDS PAYABLE Exhibit 12 24
STATEMENT OF DEBT SERVICE CHARGES UNTIL MATURITY Exhibit 13 25
SECURITY FOR DEPOSIT Exhibit 14 26
OFFICIAL BONDS Exhibit 15 27
INSURANCE IN FORCE Exhibit 16 28
ORGANIZATION Exhibit 17 29
' TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES Exhibit 18 30
I
Village of Oak Park Heights
Report
• COMMENTS
The scope of the audit report pertains to the year ended December 31, 1971.
During the year, the Village maintained two checking accounts, a general account and
a utility account. The general account transactions were recorded in a cash receipts -
disbursements journal. No journal was kept for the utility account. To properly
classify 1971 Village receipts and disbursements to generally accepted municipal funds
and accounts, we reclassified the general account transactions and recorded the utility
account transactions.
In line with our recommendation, a comprehensive double entry accounting system
has been established for the Village and will be implemented on January 1, 1972.
A summary statement of receipts and disbursements of all funds is presented in
Exhibit 11. The cash, treasurer's balance of $69,410.09 was confirmed by the deposi-
tories as of December 31, 1971.
Summary statement of investment transactions is shown in Schedule 10.1. The
time deposit balance of $172,093.77 was confirmed by the depositories as of December 31,
1g71.
Security for deposits assigned as collateral by the depositories is shown in
Exhibit 14. The security provided by each depository complied with Minnesota State
Statute requirements.
The Schedule of Interfund Transactions (Schedule 10.2) provides a comprehensive
explanation of the transfers required between funds. Council resolution is required
to affect the transactions. It is recommended the transfers be affected during 1972.
Individual fund statements of receipts and disbursements and balance sheets
contained in this report are enumerated in the preceding table of contents. A
discussion of individual funds follows.
•
1
Village of Oak Park Heights
Report, continued
GENERAL FUND
The General Fund Balance Sheet is Exhibit 1.
The fund balance increased $38,827.14 during 1971. An analysis shows:
Fund balance, January 1, 1971 $126,232.95
Add:
Increase of available cash (Exhibit 2)
1971 cash receipts $159,535.63
Less 1971 cash disbursements 118,952.01
Total 40,583.62
Increase in other assets:
Assets (less cash), December 31, 1971 $ 76,334.28
Assets (less cash), January 1, 1971 69,877.20
6,457.08
Total $173,273.65
Less increase in liabilities:
Liabilities, December 31, 1971 $ 18,640.48
Liabilities, January 1, 1971 10,427.92 8,212.56
• Fund Balance, December 31, 1971 5165.061.09
Schedule 2.1 Comparison Budget to Actual Expenditures shows the budget was
underspent $16,743.59. In 1970 the expenditures were $48,067.15 under the appropria-
tion. It would appear the Village annual appropriations exceed the actual Village
requirements.
DEBT SERVICE FUNDS
The combined balance sheet for the debt service funds is presented in Exhibit 3.
A discussion of each fund follows:
G.O. BONDS OF 1967 AND 1968
The amount to be provided for debt retirement at December 31, 1971 totaled
$134,062.14. A major portion of this provision will come from future interest on
deferred special assessments.
II
i
Village of Oak Park Heights
• Debt Service Funds, continued
A summary of the remaining bond and interest requirements over future provisions
at December 31, 1971 are as follows:
Remaining requirements:
Bond principal $1,345,000.00
Future interest on bonds 984,370.00
Total $2,329,370.00
Remaining provisions:
Cash on hand $ 62,954.69
Investments 166,800.00
Due from county auditor 39,435.12
Tax levies, net 1,583,175.00
Special assessments 342,943.05
Hookup charges 37,068.00
Future interest on special assessments,
estimated 249,722.76 2,482,098.62
Amount Provided Over Requirements S 152,728.62
The estimated future interest on special assessments is a maximum figure based
• on a calculation whereby there would be no prepayments on deferred special assess-
ments.
STORM SEWER IMPROVEMENT BONDS OF 1971
To finance Storm Sewer #3 the Village sold a $173,000 bond issue dated May 1,
1971. The improvement project was completed during 1971 and all assessments certified.
The amount to be provided for debt retirement is $33,564.27. A portion of this pro-
vision will come from future interest on deferred special assessments.
A summary of the remaining bond and interest requirements over future provisions
at December 31, 1971 are as follows:
Remaining requirements:
Bond principal $173,000.00
Future interest on bonds 107,920.00
Total $280,920000
•
III
Village of Oak Park Heights
Debt Service Funds, continued
Remaining provisions:
Cash on hand $ 8,048.44
Tax levies, net 203,300.00
Special assessments 36,007.29
Future interest on special assessments,
estimated 18,735.63 266,091.36
Amount to be Provided, Estimated S 14,828.64 — �*
The estimated future interest on special assessments is a maximum figure based
on a calculation whereby there would be no prepayments on deferred special assess-
ments.
It would appear the fund will be unable to meet its remaining obligations.
IMPROVEMENT FUNDS
The combined balance sheet for the improvement funds is presented in Exhibit 5.
A discussion of each fund follows.
IMPROVEMENT NO. 1 FUND
The $1,400,000.00 bonds sold in September 1967 and March, 1968 were to finance
the following improvements:
Sewage Disposal Plant
Outfall Sewer
Deep Well, Pump No. 1 and Elevated Water Storage Tank
1967 Water Mains and Sanitary Sewer Lines
Municipal Building
Upon completion of these projects a fund balance of $158,943.83 remained.
Subsequent improvements authorized were:
1968 Water Mains and Sanitary Sewers
1969 Water Mains and Sanitary Sewer
1968 Storm Sewer
i 1968 Street Improvements
IV
i
Village of Oak Park He
Improvement Funds, continued
s
The cost of these projects totaled $246,284.23, creating a $87,340.40 fund deficit
at December 31, 1971.
Although the Village minutes are not explicit, it appears it was the intent of
the Council for all the improvements to be paid by Improvement No, 1 Fund.
The fiscal agent consultants have ruled any prepaid assessments collected during
the first year of construction can be used to finance subsequent construction. As the
prepaid assessments collected by the Village of Oak Park Heights during 1968 totaled
$154,477.57 and as the G.O. Bonds of 1967 and 1968 will have a fund surplus, it is
recommended the $87,340.40 be transferred from the G.O. Bonds of 1967 and 1968 Debt
Service Fund. Council resolution is required to affect the transfer.
SWAGER NO. 2 SEWER AND WATER IMPROVEMENT FUND
Council authorization to construct sewer and water lines for Swager No. 2 addition
did not include provisions to finance the improvement. The project was 100% assessible.
Total cost of the project was $23,336.16. The assessments adopted October 14,
1971 totaled $22,080.00. Future interest on assessments would provide an additional
$18,920.08, based on the calculation there will be no prepayments of assessments.
It appears the intent of the Council was for the General Fund to finance the
project. It is recommended the General Fund transfer $23,336.16 to cover the cost of
the project. The assessments would thereafter be receipted into the General Fund.
Council resolution to effect the transfer is required.
STORM SEWER NO. 3 IMPROVEMENT FUND
During 1971 the Village sold a $173,000,00 bond issue, $170,000.00 of the proceeds
to finance construction of Storm Sewer No. 3. The estimated cost of the project was
$185,000.00. Actual construction cost totaled $199,751.08, creating a cash deficit
of $29,751.08 at December 31, 1971.
V
Village of Oak Park Heights
Public Enterprise Funds
PUBLIC ENTERPRISE FUNDS
The combined balance sheet for the Water Operating and Sewer Operating Funds
is shown in Exhibit 7.
Negative form confirmation requests, which seek replies only where differences
exist between the statement and the customers' records, were mailed with the customers'
utility service billings as of December 31, 1971. No significant differences were
reported.
A substantial improvement in the fund balances for each utility was noted.
An analysis shows: D�
�7
Water Sewer
Operating Operating
Fund Balance, 12 -31 -71 $ 2,849.99 $ 12,840.78
Fund Balance, 12- 31 -70 (4,478.40) 6,882.86
Fund Balance Growth, 1971 S 7.328.39 S 5.957.92
It should be noted salaries and related expense for the operation of the utili-
ties were paid by the General Fund during 1971. It is Village procedure to budget
and expend utility salaries and related expenses through the General Fund. It is
recommended all expenses pertaining to the Public Enterprise Funds be expended by
the funds to provide actual cost factors to assist the Council in setting utility rates.
GENERAL FIXED ASSETS
A statement of the General Fixed Assets is contained in Exhibit 9.
Respectfully submitted,
RONALD J. DE LA HUNT & CO., LTD.
Certified Public Accountants
s
VI
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 1
• GENERAL FUND
BALANCE SHEET
DECEMBER 31, 1971
ASSETS
Cash, treasurer's balance, Exhibit 2 $107,367.29
Investments, Schedule 10,1 5,293.77
Due from County Auditor 58,767,90
Construction Work In Progress 358.57
Taxes Receivable: $ 1,888.49
Delinquent 1,888.49
Less, allowance for uncollectible taxes 11,914.04
Due from Other Funds, Schedule 10.2
$183.701.57
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities: $ 4,134.16
Accounts Payable 1,936.74
• Accounts Payable Due to Other Governmental Units 17.04
Accounts Payable Due to Employees Hospitalization Premiums 8,875,00
Contracts Payable 1,078.00
Salaries Payable 2,599.54
Due to Other Funds, Schedule 10.2
Total Liabilities $ 18,640.48
165,o6i.o9
Fund Balance
Total Liabilities and Fund Balance $183,701.57
i
i
• VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2
GENERAL FUND PAGE 1
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Cash, treasurer's balance, January 1, 1971 $ 66,783.67
Receipts:
Revenue:
General property taxes $120,105.35
Licenses:
Cigarette 73.00
Dog 384,00 ``
Liquor and non - intoxicating malt 2,325.00 -
Registration:
Contractor 425,00
Permits:
Plumbing 531.50
Building 1,117.25
Sign 130.00 '
Heating 358.75
Moving 40.00
Surcharge 184.73
Fines and forfeits:
Court fines 227.50
• Revenue from use of money and property:
Interest earned 510.00
Revenue from other agencies:
Shared taxes:
Cigarette 2,537.90
Liquor 2,079.84 r a
State tax relief 9,395.16
Mortgage registration 7,745-01
Charges for current services:
General government:
Election filing fees 10,00
PUD plan fees 75.00
Highways:
Deposits, street light specifications 35.00
Sale and compensation for loss of properties:
Insurance recoveries and reimbursements 711.01
Other:
Sale of investment 10,000.00
Refunds and reimbursements 65.387)
Donation for recreation equipment 150.00'
Pop machine commissions 319.25
Total Receipts 159,535.63
Total, to page 2 $226,319.30
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2
GENERAL FUND PAGE 2
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Total cash, forward from page 1 $226,319.30
Disbursements:
General Government:
Mayor and council:
Current expenses $ 10,854.92
Mayor contingency 73.44
Municipal court:
Current expenses 5.00
Elections:
Current expenses 241.60
Village Clerk:
Current expenses 4,896.31
Planning and zoning:
Current expenses 1,667.92
Village hall:
Current expenses 1,991.69
Assessor:
Current expenses 800.00
Total General Government $ 20,530.88
• Public Safety:
Police department:
Current expenses $ 32,460.28
Capital outlay 6,352.7
Prisoners' subsistence 87.00
Fire department:
Current expenses 3,300.00
Protective inspections:
Current expenses 2,229.64
Total Public Safety 44,429.66
Highways:
Streets and alleys:
Current expenses $ 4,059.37
Capital outlay 67.95
Snow and ice removal:
Current expenses 4,784.70
Street lighting:
Current expenses 3,397.00
Total Highways 12,309.02
Sanitation and waste removal:
Landfill:
Current expenses $ 178.50
Totals, forward to page 3 $ 178.50 $ 77,269.56 $226,319.30
3
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2
. GENERAL FUND PAGE 3
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Total cash, forward from page 2 $226,319.30
Disbursements, forward from page 2 $ 77,
Sanitation and waste removal, cont. $ 178.5
Refuse collection and disposal:
Current expenses 36.00
Total Sanitation and Waste Removal 214.50
Recreation:
Parks, playgrounds, skating rink:
Current expenses $ 19,791.
Capital outlay 242.96
Total Recreation 20,034.38
Special service:
Utility:
Current expenses $ 10,087.97
Total Special Service 10,087.97
Construction:
Street lighting $ 50.20
Highway 212 and 67 358.57
Total Construction 408.77
Other:
Water operating fund insurance $ 353.57''
Sewer operating fund insurance 464.00=
Refunds - lighting specifications 20.00
Investments purchased 10,000.00
Total Other 10,837.57
Total $118,852.75
Payroll deductions adjustment:
Payment to governmental agencies and
hospitalization insurance companies
for payroll deductions $ 8,834.42
Deduct:
Payroll deductions 8,735.16 99.26
Total Disbursements 118,952.01
Cash, treasurer's balance, December 31, 1971 $107.367.29
To be reimbursed by Public Enterprise Funds.
4
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 2.1
• GENERAL FUND
COMPARISON BUDGET TO ACTUAL EXPENDITURES
FOR THE YEAR ENDED DECEMBER 31, 1971
Under
Actual (Over)
Budget Expenditures Budget
General Government:
Mayor and Council $ 9,475.00 $ 10,854.92 $ (1,379.92)
Municipal Court 5.00 (5.00)
Elections 600.00 241.60 358.40
Village Clerk 7,010,00 4,896.31 2,113.69
Planning and zoning 1,667.92 (1,667.92)
Village Hall 7,100,00 1,991.69 5,108.31
Assessor 800.00 800.00
Total General Government $ 24,985.00 $ 20,457.44 $ 4,527.56
Public Safety:
Police Department $ 27,785.00 $ 38,900.02 $(11,115.02)
Fire Department 6,000.00 3,300.00 2,700.00
Protective Inspections 2,229,64 (2,229,64)
Total Public Safety $ 33,785.00 $ 44,429.66 $(10,644.66)
Highways:
Streets and alleys $ 13,000.00 $ 4,127.32 $ 8,872.68
Snow and ice removal 10,500.00 4,784,70 5,715.30
Street lighting 3,000.00 3,397.00 (397.00)
Total Highways $ 26,500,00 $ 12,309,02 $ 14,190.98
Sanitation and Waste Removal:
Landfill $ 178.50 $ (178,50)
Refuse collection and removal 36,00 (36.00)
Total Sanitation and Waste Removal $ -0- $
214.50 $ (214.50)
Recreation:
Parks, playgrounds, skating rinks $ 27,025.00 $ 20,034,38 $ 6,990.62
Special Services:
Utility 11,555.00 10,087.97 1,467.03
Others:
Mayor's contingency 500,00 73.44 426,56
Totals Comparison Budget to Actual
Expenditures $124,350.00 $107,606.41 S 16.743.59
5
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 3
DEBT SERVICE FUNDS
BALANCE SHEET (COMBINED)
DECEMBER 31, 1971
Fund
G. 0, Bonds Storm Sewer
of Improvement
Total 1967 & 1968 Bonds of 1971
ASSETS
Cash:
Treasurer's balance, Exhibit 4 $ 71,003,13 $ 62,954.69 $ 8,048.44
On deposit with fiscal agent 720,26 720,26
Investments 166,800.00 166,800,00
Hook -up charges receivable 37,068.00 37,068.0
Due from county auditor 39,435.1 39,435.12
Totals $315,026.51 $306,978.07 $ 8,048.44
Taxes Receivable:
Delinquent 273.47 273,47
Deferred, Schedule 3.1 1,880,500,00 1,666,500,00 $214,000,00
Total $1,880,773.47 $1,666,773.47 $214,000.00
Less, allowance for uncollectible taxes 94,298.47 83,598.47 10,700,00
Net Taxes Receivable $1,786,475,00 $1,583,175.00 $203,300,00
Special Assessments Receivable:
• Current $ 38,170,66 $ 34,551.25 $ 3,619.41
Delinquent 4,256.81 4,256.81
Deferred 327,554.55 304,134.99 23,419.56
Special deferments 8,968.32 8,968,32
Total Special Assessments Receivable $378,950.3 $342,943. $ 36,007,29
Amount to be Provided for Debt Retirement $130,558.41 $ 96,994,14 $ 33,564,27
Total Assets $2,611,010.26 52,330,090,26 5280,920,00
LIABILITIES AND RESERVES
Liabilities:
Bonds payable, Schedule 3.1 $1,518,000.00 $1,345,000,00 $173,000.00
Matured interest payable 720.26 720.26
Total Liabilities $1,518,720,26 $1,345,720,26 $173,000,00
Reserves:
Future interest on bonds, Schedule 3.1 1,092,290.00 984,370.00 107,920.00
Total Liabilities and Reserves 52,611,010.26 $2,330,090.26 $280,920.00
6
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 3.1
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES PAGE 1
. AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1971
Deferred Allowance For
Bond Spread Tax Uncollectible
General Obligation Bonds of 1967 and 1968 Debt Service Fund: Numbers Principal Interest Total In Levies Taxes
General Obligation Improvement Bonds of 1967:
Dated September 1, 1967, 4.5% interest on maturities 1970-
83, 4.6% 1984 -89, 4.7% 1990 -97, all bonds shall bear
additional 1.5% from 1/1/68 to 9/1/69, all bonds maturing
in the years 1978 and thereafter are callable at option of
Village on September 1, 1977 interest at par plus $100 for
each bond redeemed payable at First National Bank of St. Paul 3 -1 -72 $ 19,530.00
9-1 -72 11 -15 $ 25,000.00 19,530.00 $ 64,060.00 1971 $ 35,500.00 'e $ 1,775.00
3 - 1 - 73 18,967.50
9 - 1 - 73 16 -20 25,000.00 18,967.50 62,935.00 1972 35,000.00 1,750.00
3-1 -74 18,405.00
9 -1 -74 21 -25 25,000.00 18,405.00 61,810.00 1973 34,600.00" 1,730.00
3 -1 - 75 17,842.50
9 - 75 26 -31 30,000.00 17,842.50 65,685.00 1974 39,400.0o rq 7s 1,970.00
3 - 1 - 76 17,167.50
9-1-76 32 - 37 30,000.00 17,167.50 64,335.00 1975 38,800.00 1,940.00
3 - 1 - 77 16,492.50
9 - 1 - 77 38 -43 30,000.00 16,492.50 62,985.00 1976 38,100.00 1,905.00
i 3 - 1 -78 15,817.50
9 -1 -78 44 -49 30,000.00 15,817.50 61,635.00 1977 37,400.00 1,870.00
3 - 1 - 79 15,142.50
9 - 1 - 79 50-55 30,000.00 15,142.50 60,285.00 1978 36,700.00 1,835.00
3 -1 -80 14,467.50
9 -1 -80 56 -61 30,000.00 14,467.50 58,935.00 1979 35,900.00 1,795.00
3 -1 -81 13,792.50
9 -1 -81 62 -67 30,000.00 13,792.50 57,585.00 1980 35,400.00 1,770.00
3 -1 -82 13,117.50
9 -1 -82 68 - 73 30,000.00 13,117.50 56,235.00 1981 34,700.00 1,735.00
3 - 1 - 83 12,442.50
9 -1-83 74 -79 30,000.00 12,442.50 54,885.00 1982 34,100.00 1,705.00
3 -1 -84 11,767,50
9 -1 -84 80 -85 30,000.00 11,767.50 53,535.00 1983 33,400.00 1,670.00
3 -1 -85 11,077.50
9 - 1 - 85 86 -91 30,000.00 11,077.50 52,155.00 1984 32,700.00 1,635.00
3 -1 -86 10,387.50
9 - 1 - 86 92 -98 35,000.00 10,387.50 55,775.00 1985 37,200.00 1,860.00
3 -8 7 9,582.50
9 -1 -87 99 - 105 35,000.00 9,582.50 54,165.00 1986 36,300.00 1,815.00
3 -1 -88 8,777.50
9 -1 -88 106 -112 35,000.00 8,777.50 52,555.00 1987 35,300.00 1,765.00
3 -1-8 9 7,972.50
9 -1 -89 113 -119 35,000.00 7,972.50 50,945.00 1988 34,400.00 1,720.00
3 -1 -90 7,167.50
9 -1 -90 120 -126 35,000.00 7,167.50 49,335.00 1989 33,400.00 1,670.00
3 -1 -91 6,345.00
9 127 - 133 35,000.00 6,345.00 47,690.00 1990 32,500.00 1,625.00
Totals forward to page 2 615,000.00
$ $532,525.00 $1,147,525.00 $710,800.00 $ 35,540.00
7
VILLAGE OF OAK PARE; HEIGHTS, MINNESOTA SCHEDULE 3.1
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES PAGE 2
AND ALLOWANCE FOR IINCOLLECTIBLE TAXES
DECEMBER 31, 1971
Deferred Allowance For
Bond Spread Tax Uncollectible
Numbers Principal Interest Total In Levies Taxes
General Obligation Bonds of 1967 and 1968 Debt Service Fund,
continued:
General Obligation Improvement Bonds of 1967, continued: $615,000.00 $532,525.00 $1,147,525.00 $710,800.00 $ 35,540.00
3 -1 -92 5,522.50
9 -1-92 134 -14o 35,000.00 5,522.50 46,045.00 1991 31,600.00 1,580.00
3 -1 -93 4,700.00
9 -93 141 -148 40,000.00 4,700,00 49,400.00 1992 35,700.00 1,785.00
3-1 -94 3,760.00
9-1 -94 149 -156 4o,000.00 3,76o.00 47,520.00 1993 34,500.00 1,725.00
3 -1 -95 2,820.00
9-1 -95 157 -164 40,000.00 2,820.00 45,640.00 1994 33,300.00 1,665.00
3-1-96 1,880.00
9 -1 -96 165 -172 40,000.00 1,880.o0 43,760.00 1995 32,000.00 1,600.00
3 - 1 - 97 940.00
9 - 97 173 -180 4o,000.00 940.00 41,880.00 1996 30,800.00 1,54o.00
Total General Obligation Improvement Bonds of 1967 $850,000.00 $571,770.00 $1,421,770.00 $908,700.00 $ 45.435.00
General Obligation Water and Sanitary Sewer Improvement Bonds of 1968:
Dated March 1, 1968, 4,8% interest on maturities 1971 -81,
5% 1982 -98, additional 2.4% interest from 3/1/68 to 3/1/70,
bonds maturing 1979 and thereafter callable at option of
Village on September 1, 1978 at par and accrued interest
plus $100 premium, bonds maturing 1989 and thereafter
callable on September 1, 1988 interest at par and accrued
interest plus $50 premium, bonds maturing 1994 and there-
after callable on September 1, 1993 at par and accrued interest 3 $ 12,270.00
9 -1 -72 2 $ 5,000.00 12,270.00 $ 29,540.00 1971 $ 21,700.00 1,085.00
3-1 -73 12,150.00
9 - 1 - 73 3 5,000.00 12,150.00 29,300.00 1972 21,800.00 1,090.00
3 - 1 - 74 12,030.00
9 -1 -74 4 5,000.00 12,030.00 29,060.00 1973 21,700.00 -' °` 1,085.00
3 - 1 - 75 11,910.00 _
9 - 1 - 75 5 - 6 10,000.00 11,910.00 33,820.00 1974 26,900.00 1,345.00
3 - 1 - 76 11,670.00
9 -1 -76 7 -8 10,000.00 11,670.00 33,340.00 1975 26,500.00 1,325.00
3 -1 -77 11,430.00
9 - 1 - 77 9 - 10 10,000.00 11,430.00 32,860.00 1976 26,200.00 1,310.00
3 -1 -78 11,190.00
9 - 1 - 78 11 -12 10,000.00 11,190.00 32,380.00 1977 25,900.00 1,295.00
3 - 1 - 79 10,950.00
9 - 1 - 79 13 - 14 10,000.00 10,950.00 31,900.00 1978 25,600.00 1,280.00
3 -1-80 10,710.00
9 -1 -80 15 -18 20,000.00 10,710.00 41,420.00 1979 35,900.00 1,795.00
Totals forward to page 3 $ 85,000.00 $208,620.00 $293,620.00 $232,200.00 $ 11,610.00
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 3.1
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES PAGE 3
• AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1971
Deferred Allowance For
Bond Spread Tax Uncollectible
Numbers Principal Interest Total In Levies Taxes
General Obligation Bonds of 1967 and 1968 Debt Service Fund,
continued:
General Obligation Water and Sanitary Sewer Improvement
Bonds of 1968, continued: $ 85,000.00 $208,620.00 $293,620.00 $232,200.00 $ 11,610.00
3 -1 -81 10,230.00
9 -1 -81 19 -22 20,000.00 10,230.00 40,460.00 1980 35,000.00 1,750.00
3 -1 -82 9,750.00
9 -1 -82 23 -26 20,000.00 9,750.00 39,500.00 1981 34,200.00 1,710.00
3 - 83 9,250.00
9 - 1 - 83 27 - 30 20,000.00 9,250.00 38,500.00 1982 33,200.00 1,660.00
3 -1 -84 8,750.00
9 -1 -84 31 -34 20,000.00 8,750.00 37,500.00 1983 32,400.00 1,620.00
3 -1 -85 8,250.00
9 - 1 - 85 35 20,000.00 8,250.00 36,500.00 1984 31,600.00 1,580.00
3 -1 -86 7,750.00
9 -1 -86 39 -42 20,000.00 7,750.00 35,500.00 1985 30,800.00 1,54o.00
3 -1 -8 7 7,250.00
9-1 -87 43 -46 20,000.00 7,250.00 34,500.00 1986 29,900.00 1,495.00
• 3 -1 -88 6,750.00
9 -1 -88 47 -50 20,000.00 6,750.00 33,500.00 1987 29,100.00 1,455.00
3 - 1 - 89 6,250.00
9 - 1 -89 51 - 55 25,000.00 6,250.00 37,500.00 1988 33,400.00 1,670.00
3 - 1 - 90 5,625.00
9 -1 -90 56 -60 25,000.00 5,625.00 36,250.00 1989 32,300.00 1,615.00
3 5,000.00
9 -1 -91 61 -65 25,000.00 5,000.00 35,000.00 1990 31,200.00 1,56o.00
3 -1- 9 2 4,375.00
9 -1 -92 66 -70 25,000.00 4,375.00 33,750.00 1991 29,900.00 1,495.00
3 - 1 - 93 3,750.00
9 - 1 - 93 71 - 75 25,000.00 3,750.00 32,500.00 1992 29,000.00 1,450.00
3 -1 -94 3,125.00
9 -1 -94 76 -80 25,000.00 3,125.00 31,250.00 1993 27,800.00 1,390.00
3 - 1 - 95 2,500.00
9 - 1 - 95 81 - 85 25,000.00 2,500.00 30,000.00 1994 26,700.00 1,335.00
3 -1 -96 1,875.00
9 -1 -96 86 -90 25,000.00 1,875.00 28,750.00 1995 25,700.00 1,285.00
3 1,250.00
9-1 -97 91 -95 25,000.00 1,250.00 27,500.00 1996 33,400.00 1,670.00
2 -1 -98 96 -190 25,000.00 520.00 25,520.00
Total General Obligation Water and Sanitary Sewer Improvement
Bonds of 1968 $495.Oo0.o0 $412,600.00 $907.600.00 $757.800.00 S 37.890.00
Total General Obligation Bonds of 1967 and 1968 Debt Service
Fund $1,345.000.00 $984.370.00 $2.329.370.00 $1,666,5oo.00 S 83.325.00
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 3.1
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES PAGE 4
• AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1971
Deferred Allowance For
Bond Spread Tax Uncollectible
General Obligation Storm Sewer Improvement Bonds of 1971: Numbers Principal Interest Total In Levies Taxes
Dated May 1, 1971, 4% interest on maturities 1973 -76,
4.25% 1977, 4.6°% 1978 - 79, 5% 1980 -81, 5.2% 1982 -83,
5.4 1984 -85, 5.5% 1986, 5.6% 1987, 5.7% 1988 -91 all
bonds maturing in the year 1982 and thereafter are
callable at the option of the Village on May 1, 1981
interest at par plus $50 for each bond redeemed payable
at First National Bank of St. Paul 5 -1 -72 $ 8,775.00 1971 $ 10,000.00 500.00
11 -1 -72 4,387.50 $ 13,162.50
5 - 73 1 -4 $ 8,000.00 4,387.50 1972 10,000.00 -' 500.00
11 -1 -73 4,227.50 16,615.00
5 - 1 - 74 5 5,000.00 4,227.50 1973 10,000.00 "`' 500.00
11 -1 -74 4,127.50 13,355.00
5 - 1 - 75 6 5,000.00 4,127.50 1974 10,000.00 500.00
11 -1 -75 4,027.50 13,155.00
5 - 1 - 76 7 5,000.00 4,027.50 1975 10,000.Do 500.00
11 -1 -76 3,927.50 12,955.00
5 - 1 - 77 8 -9 10,000.00 3,927.50 1976 10,000.00 500.00
. 11 -1 -77 3,715.00 17,642.50
5 -1 -78 10 -11 10,000.00 3,715.00 1977 12,000.00 600.00
11 -1 -78 3,485.00 17,200.00
5 -1 -79 12 -13 10,000.00 3,485.00 1978 12,000.00 600.00
11 -1 -79 3,255.00 16,74o.00
5 -1 -8o 14 -15 10,000.00 3,255.00 1979 12,000.00 600.00
11-1-80 3,005.00 16,26o.00
5 -1 -81 16 -17 10,000.00 3,005.00 1980 13,000.00 650.00
11 -1 -81 2,755.00 15,760.00
5 -1-82 18 -19 10,000.00 2,755.00 1981 12,000.00 600.00
11 -1 -82 2,495.00 15,250.00
5-1 -83 20 -21 10,000.00 2,495.00 1982 12,000.00 600.00
11 -1 -83 2,235.00 14,730.00
5 -1 -84 22 -23 10,000.00 2,235.00 1983 12,000.00 600.00
11 -1-84 1,965.00 14,200.00
5 -1 -85 24 -25 10,000.00 1,965.00 1984 11,000.00 550.00
11 -1 -85 1,695.00 13,66o.00
5 -1 -86 26 -27 10,000.00 1,695.00 1985 11,000.00 550.00
11 -1 -86 1,420.00 13,115.00
5 -1 -87 28 -29 10,000.00 1,420.00 1986 11,000.00 550.00
11-1 -87 1,14o.00 12,56o.00
Totals forward to page 5 $133,000.00 $103,360.00 $236,360.00 $178,000.00 $ 8,900.00
•
lu
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 3.1
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES PAGE 5
AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1971
Deferred Allowance For
Bond Spread Tax Uncollectible
Numbers Principal Interest Total In Levies Taxes
General Obligation Storm Sewer Improvement Bonds of 1971,
continued from page 4 $ 133,000.00 $ 103,360.00 $ 236,360.00 $ 178,000.00 $ 8,900.00
5 -1 -88 30 -31 10,000.00 1,140.00 1987 12,000.00 600.00
11 -1 -88 855.00 11,995.00
5 - 1 - 89 32 - 33 10,000.00 855.00 1988 12,000.00 600.00
11 -1 -89 570.00 11,425.00
5 -1 -90 34 -35 10,000.00 570.00 1989 12,000.00 600.00
11 -1 -90 285.00 10,855.00
5-1 -91 36 -37 10,000.00 285.00 10,285.00
Total General Obligation Storm Sewer Improvement Bonds
of 1971 t 173,000.00 $ 107,920.00 S 280.920.00 $ 214,000.00 $ 10.700.00
Totals $2.610.290.00 S 94.025.00
Total Bonds Payable, to Exhibit 3 ?1.518.000.00
Total Future Interest Payable, to Exhibit 3 $1.092.290.00
Total Deferred Tax Levies, to Exhibit 3 $1.880.500.00
11
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 4
• DEBT SERVICE FUNDS
COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Fund
G. 0, Storm
G. 0. Bonds Sewer
of Improvement
Total 1967 & 1968 Bonds of 1971
Cash, treasurer's balance, January 1, 1971 $ 34,203.20 $ 34,203.20 $ -0-
Receipts:
Revenue:
General property taxes:
Current and delinquent $ 56,627.07 $ 56,627.07
Special assessments:
Collected by Village:
Prepayments 18,264.57) aq 11,376.75 $ 6,887.82
Interest on prepayments 175.20 }0 o . �hr' 175.20 -
Collected by County:
Current and delinquent 27,399.57 + 27,399.57
Sewer and water hook -up charge 19,655.80 19,655.8 0
Bond proceeds 405.00- 405,00
7
• Interest earned on investments 8,844,00 �. 8,844,00
Interest earned on bond proceeds 755.62' 755.62
Total Receipts $132,126.83 $124,078.39 $ 8,048,44
Totals $166,330.03 $158,281.59 $ 8,048,44
Disbursements:
Payment for Debt Retirement:
Principal $ 30,000.00 $ 30,000.00
Interest 64,965,00 64,965,00
Fiscal agent charges 180.42 180,42
Refund of interest on prepaid assessments 181.48 181,48
Total Disbursements $ 95,326,90 $ 95,326.90
Cash, treasurer's balance, December 31, 1971 $ 71,003.13 $ 62,954.69 $ 8,048.44
•
12
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 5
• IMPROVEMENT FUNDS
BALANCE SHEET (COMBINED)
DECEMBER 31, 1971
Fund
Swager No. 2
Sewer and Storm
Improvement Water Sewer #3
Total No. 1 Improvement Improvement
ASSETS
Cash: $(136,668.12) $(83,580.88) $(23,336.16) $(29,751.08)
Due from other funds 2,395.00 2,395.00
Special Assessments Receivable:
Current $ 3,243.28 $ 3,243.28
Deferred 20,976.00 20,976,00
Total Special Assessments
Receivable $ 24,219.28 $ 24,219.28
Total Assets $(110,053.84) $(81,185.88) $ 883.12 $(29,751.08
LIABILITIES AND FUND BALANCE
Liabilities:
. Accounts payable $ 2,237.99 $ 2,237.99
Due to other funds, Schedule 10.2 6,154.52 $ 6,154,52
Total Liabilities $ 8,392.51 $ 6,154.52 $ 2,237.99
Fund balance (118,446.35) (87,340.40) $ 883.12 (31,989.07)
Total Liabilities and
Fund Balance 5(110.053.84) $(81.185.88) $ 883.12 $(29,751.08
13
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 5.1
SUMMARY OF CONSTRUCTION COSTS BY PROJECT
• DECEMBER 31, 1971
Land Due to
Village Acquisition Prior Current Accounts Contracts Other
IMPROVEMENT FUNDS: Contractor Legal Engineerinq Inspector Easements Other Total Period Period Payable Payable Funds
IMPROVEMENT NO. 1 FUND:
Street:
1968 project $ 2,777.60 $ 2,988.85
$ 5,766.
1970 project 42,013.70 $ 2,853.50 4,917.11 $ 67.00 $ 16,706.00
Water Main and Sanitary Sewer: $ 37.80 66,595.1111 ; 3,712.75 56,747.84 $ 6,134.52
$ (113.40) $ 5,879.85
1967 project 250.00 50.00 2,655.50 2,955.50- 2,955.50
1969 sewer 174.81 174,81-; 174.81
Total Improvement No. 1 Funds $ 44,791.30 $ 3,103.50 $ 8,130.77 $ 67.00 $ 19,361.50 $ 37.80 $ 75,491.87 $ 3,599.35 $ 65,758.00
$ 6,134.52
SWAGER NO. 2 SEWER AND WATER
IMPROVEMENT FUND 19,654.00 3,563.06 119.10 23,336.16* 25,336.16
STORM SEWER NO. 3 IMPROVEMENT
FUND 180,624.20 1,056.96 17,433.37 356.00 2,518.54 201,989.07-; 199,751.08 $ 2,237.99
Total Improvement Funds $245,069.50 $ 4,160,46 $ 29,127,20 $ 423.00 $ 19361.50 $ 2,675.44 $300,817.10 $ 3,599.35 $288,845,24 $ 2,237.99 $ 6,134.52
GENERAL FUND
• Street lighting - Fahlstrom Road $ 8,875.00 $ 25.00 $ 25.20 $ 8,925.20-; $ 50.20 $ 8,875.00
Highway 212 and 67 $ 358.57 358.57 358.57
Total General Fund $ 8,875.00 $ 25.00 $ 358.57 $ 25.20
$ 9,283.77 $ 408.77 $ 8,875.00
Total Construction Cost $253.944.50 $ 4.185.46 $ 29.485.77 $ 423.00 $ 19 „361.50 $ 2.700.64 $310,100.87 $ 3.599.35 $289.254.01 $ 2,237.99 $ 8.875.00 $ 6.134.52
Less Completed Construction
309,742.30 -;
Construction Work in Progress,
to Exhibit 1 $ 358.57
;; SUMMARY OF COMPLETED PROJECTS:
Construction costs capitalized as General Fixed Assets, Exhibit 9:
Streets
Storm sewers $ 72,361.56
201,989.07
Street lighting 8,925.20
Total General Fixed Assets $283,275.83
Construction costs capitalized as Utilities Department Assets, Schedule 7.1:
Watermains $ 1 1 ,053.31
Sanitary sewer 15,413.16
Total Utilities Department Fixed Assets 26,466.47
Total Completed Construction $309.742.30-
•
14
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 6
IMPROVEMENT FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Fund
Swager No. 2
Improvement Sewer and Storm
Total No. 1 Water Sewer #3
Cash, treasurer's balance,
January 1, 1971 $ (18,572.88) $(18,572.88)
Receipts:
Revenue:
Bond proceeds $ 170,000,00 $170,000.00
Refunds and Reimbursements:
Contractor 750,00 $ 750,00
Total Receipts $ 170,750.00 $ 750.00 $170,000.00
Total $ 152,177,12 $(17,822.88) $170,000.00
• Disbursements:
Construction Costs:
1968 Street Improvement $ 5,879.85 $ 5,879.85
1970 Street Improvement 56,747.84 56,747.84
1967 Water and Sanitary Sewer
Improvement 2,955.50 2,955.5
1969 Water and Sanitary Sewer
Improvement 174.81 174.81
Swager No. 2 Sewer and Water
Improvement 23,336.16 $ 23,336.16
Storm Sewer #3 Improvement 199,751.08 $199,751.08
Total Disbursements $ 288,845.24 $ 65,758.00 $ 23,336.16 $199,751.08
Cash, treasurer's balance,
December 31, 1971 $(136.668.12) S(83.580.88) S(23.336.16) 5(29.751.08)
15
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 7
• PUBLIC ENTERPRISE FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1971
Fund
Water Sewer
Total Operating Operating
ASSETS
Cash, treasurer's balance S 27,707.79 $ 15,113.74 $ 12,594.05
Accounts receivable 12,224.68 6,329.62 5,895.06
Contracts receivable 316,804.00 316,804.00
Deferred charges receivable 9,865.73 9,865.73
Due from other funds, Schedule 10.2 204.54 204.54
Total S 366,806.74 $ 21,647.90 $ 345,158.84
Fixed Assets, Schedule 7.1 51,368,197.38 $ 545,606.43 $ 822,590.95
Less: Reserve for Depreciation,
Schedule 7.1 54,415.47 23,555.43 30,860.04
Total Fixed Assets S1,313,781.9 $ 522,051.00 S 791,730.91
Total Assets 51,680,588.65 S 543,698.90 S1,136.889,a
• LIABILITIES, RESERVES AND FUND BALANCE
Liabilities:
Accounts payable S 773.78 $ 304.41 $ 469.37
Accounts payable due to sales use tax 220.17 220.17
Due to metropolitan sewer board 254.26 254.26
Due to other funds, Schedule 10.2 5,759.52 834.82 4,924.70
Total Liabilities S 7,007.73 $ 1,359.40 $ 5,648.33
Reserves:
Meter deposits S 17,438.51 $ 17,438.51
Debt payment credits 316,804.00 $ 316,804.00
Deferred charges 9,865.73 9,865.73
Total Reserves S 344,108.24 $ 17,438.51 $ 326,669.73
Fund Balance:
Unappropriated S 15,690.77 $ 2,849.99 $ 12,840.78
Invested in fixed assets 1,313,781.91 522,051.00 791,730.91
Total Fund Balance 51,329,472.68 $ 524,900.99 $ 804,571.69
Total Liabilities, Reserves and
Fund Balance 51,680,588.65 S 543,698.90 51,136,889.75
i
ib
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 7.1
PUBLIC ENTERPRISE FUNDS
• STATEMENT OF FIXED ASSETS AND ALLOWANCE FOR DEPRECIATION
FOR THE YEAR ENDED DECEMBER 31, 1971
Fixed Assets Accumulated Depreciation
Balance Balance Balance Balance Book Value
Year January 1, Additions December 31, January 1, Additions December 31, December 31,
WATER OPERATING: Acquired 1971 (Disposals) 1971 Rate 1971 1971 1971 1971
Buildings and Structures:
Deep Well Pump No. 1 and Elevated Water
Storage Tank 1968 $ 104,522.14
$104,522.14 2 $ 4,180.88 $ 2,090.44 $ 6,271.32 $ 98,250.82
Machinery and Equipment:
1968 Chevrolet 3/4 ton truck (1/2 cost) 1968 999.50 999.50 20 399.80 199.90 599.70 399.80
#9TP31A pump with suction hose (1/2 cost) 1970 280.47 280.47 10 28.05 28,05 252.42
Hydrant markers with accessories (90) 1971 $ 535.50 535.50 10 535.50
Top extension and rod assembly (6) 1971 276,70 276.70 10
Incubator 1971 276,70
98.00 99.00 99.00
Water Distribution System 427,839.81 11,053.31 438,893.12 2 8,099.56 8,556.80 16,656.36 422,236,76
Totals $ 533.641.92 $ 11.964.51 $ 12,680.24 S 10.875.19 $522,051.00
Fixed Assets, to Exhibit 7 $545.606.43
Depreciation Reserve, to Exhibit 7 $ 23.555.43
• SEWER OPERATING:
Buildings and Structures:
Sewage disposal plant 1968 $ 187,309.24
$(187,309.24)* 2 $ 7,492.36 $ (7,492.36)
Machinery and Equipment:
1968 Chevrolet 3/4 ton truck (1/2 cost) 1968 999.50 $ 999.50 20 399.80 199.90 599.70 399.80
H9TP31A pump with suction hose (1/2 cost) 1970 280.47 280.47 10 28.05 28.05 252.42
General auger 1970 56.03 56.03 5 2.80 2.80 53.23
outfall Sewer 78,958,20 (78,958.20)- 2 3,158.32 (3,158.32)
Lateral lines and lift stations 805,841.69 15,413.26 821,254.95 2 14,112.65 16,116.84 30,229,49 791,025,46
Totals $1,073.445.13 $(250,854.18) $ 25.163.13 $ 5.696.91 $791.730.91
Fixed Assets, to Exhibit 7 $822.590.95
Depreciation Reserve, to Exhibit 7 $ 30,860.04
Assets acquired by Metropolitan Sewer Board agreement dated December 15, 1970.
17
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 8
PUBLIC ENTERPRISE FUNDS
COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1971
Fund
Water Sewer
Total Operating Operating
Cash, treasurer's balance,
January 1, 1971 S 10,745,14 $ 6,965.52 S 3,779.62
Receipts:
Customers collections for services S 31,105,40 $ 16,812.18 S 14,293.22
Sales tax collected 479.41 479.41
Penalties 585.05 321.78 263.27
Permits 720,00 352.00 368.00
Meter deposits 2,302.34 2,302.34
Petty cash deposited 50.00 50,00
Reimbursement:
Metropolitan Sewer Board - Maintenance
Sewage Treatment Plant 9,600.00 9,600,00
Total Receipts S 44,842.20 $ 20,317.71 $ 24,524.49
Total $ 55,587.34 $ 27,283.23 $ 28,304.11
• Disbursements:
Inspector's fees $ 1,094,40 $ 531.20 $ 563,20
Professional services 401.25 88.75 312.50
Utilities 1,058.36 860.37 197.99
Supplies 252.25 126.13 126.12
Other materials and supplies 381.38 332.35 49.03
System maintenance 16,485.02 6,449.22 10,035.80
Equipment maintenance 1,168.26 584.13 584.13
Water meters - acquisition and maintenance 1,779.80 1,779.80
Capital outlay 911.20 911.20
Sales tax remitted 459.71 459.71
Meter refunds 46.63 46.63
Sewage treatment plant maintenance 3,841.29 3,841.29
Total Disbursements $ 27,879.55 $ 12,169.49 $ 15,710.06
Cash, treasurer's balance, December 31, 1971 S 27,707.79 S 15.113.74 S 12,594.05
•
i L�3
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 9
STATEMENT OF GENERAL FIXED ASSETS
• FOR YEAR ENDED DECEMBER 31, 1971
Balance Balance
Year January 1, December 31,
Acquired 1971 Additions 1971
Building and Structures:
Old town hall $ 7,000.00 $ 7,000.00
Municipal building and garage 1970 62,315.44 62,315.44
Recreation building (2) 1970 25,195.89 25,195.89
Machinery and Equipment:
Police Department:
1968 Ford 4 -door sedan 1970 1,195.00 1,195.00
Mobile radio unit 1970 2,029.50 2,029.50
1971 Ford police car & accessories 1971 $ 3,892. 3,892.64
Radio unit 1971 2,029.50 2,029.50
Colt Python, 6 in. (1) 1971 152.00 152.00
X -35 camera 1971 44.95 44.95
Resuscitator masks & accessories (2) 1971 109.00 109.00
Recreation Department:
14 H.P. Cub Cadet Tractor with access. 1970 1,989.00 1,989.00
1-1/2 x 150 ft. hose 1970 447.18 447.18
Playground equipment 1970 2,874.40 2,874.40
Basketball and tennis equipment 1970 394.20 394.20
Table tennis equipment 1970 98.44 98.44
Chain link fence 1970 3,100.00 3,100.00
Heavy duty lawn mower 1971 242.96 242.96
• Street Department:
Electric grinder 1971 67.95 67.95
Furniture and Office Equipment:
Village Clerk:
Olympic typewriter 245.00 245.00
Addox adding machine 325.00 325.00
Steel file 150.00 150.00
Paymaster check printer 1970 154.50 154.50
Village Hall:
50 chairs, steel with orange seats 1,000.00 1,000.00
Fire Department: PL,
Desk with chair 1970 401.89 401.89
Fireproof file 1970 309.60 309.60
Steel master cabinet (1) 1971 13.45 13.
Royal typewriter 1971 75.00 75.00
Steel master cabinet (2) 1971 36. 36.20
Recreation Department:
Stero system 1970 182.50 182.50
Other Improvements:
Streets 245,973.55 72,361.56 318,335.11
Storm sewers 22,262.40 201,989.07 224,251.47
Street lighting 8,925.20 8,925.20
Totals $377.643.49 5289.939.48
• General Fixed Assets, to Exhibit 10 5 67 .582.97
19
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 10
COMBINED BALANCE SHEET - ALL FUNDS (CONDENSED FORM)
DECEMBER 31, 1971
General Debt Improvement Public Enterprise General
Fund Service Funds Funds Funds Fixed Assets
Total Exhibit 1 Exhibit 3 Exhibit 5 Exhibit 7 Exhibit 9
ASSETS
Cash:
Treasurer's balance, Exhibit 11 $ 69,410.09 $ 107,367.29 $ 71,003.13 $ (136,668.12) $ 27,707.79
Deposits with fiscal agents 720.26 720.26
Investments 172,093.77 5,293.77 166,800.00
Accounts receivable 49,292.68 37,068.00 12,224.68
Contracts receivable 316,804.00 316,804.00
Taxes receivable, net 1,786,475.00 1,786,475.00
Special assessments receivable 403,169.62 378,950.34 24,219.28
Due from county auditor 98,203.02 58,767.90 39,435.12
Deferred charges receivable 9,865.73 9,865.73
Due from other funds, Schedule 10.2 14,513.58 11,914.04 2,395.00 204.54
Construction work in progress, Schedule 5.1 358.57 358.57
Fixed assets, net 1,981,364.88 1 313,78 1.91 $ 667,582.97
Amount to be provided for debt retirement 130,558.41 130,558.41
Total Assets 55.032.829.61 S 183.701.57 $2.611.010.26 S (110.053.84) S1.680.588.65 S 667.582.97
LIABILITIES, RESERVES AND FUND BALANCE
Liabilities:
Accounts payable $ 7,162.97 $ 4,151.20 $ 2,237.99 $ 773.78
Contracts payable 8,875.00 8,875.00
Bonds payable, Schedule 3.1 1,518,000.00 $1,518,000.00
Salaries payable 1,078.00 1,078.00
Due to other governmental units 2,411.17 1,936.74 474.43
Due to other funds, Schedule 10.2 14,513.58 2,599.54 6,154.52 5,759.52
Matured interest payable 720.26 720.26
Reserves:
Meter deposits 17,438.51 17,438.51
Future interest on bonds, Schedule 3.1 1,092,290.00 1,092,290.00
Debt payment credits 316,804.00 316,804.00
Deferred charges 9,865.73 9,865.73
Fund Balance:
Unappropriated 62,305.51 165,061.09 (118,446.35) 15,690.77
Invested in fixed assets 1,981,364.88 1,313,781.91 $ 667,582.97
Total Liabilities, Reserves and Fund Balance S5.032.829.61 S 183.701.57 S2.611.010.26 S (110.053.84) $1.680.588.65 S 667.582.97
20
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 10.1
SUMMARY OF INVESTMENT TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1971
G.O. Bonds of
1967 & 1968
General Debt Service
Total Fund Fund
Investments, January 1, 1971 S171,800.00 $ 5,000.00 $166,800.00
Add: Investments purchased 10,000.00 10,000.00
Interest earned added to principal 293.77 293.77
Total 5182,093.77 $ 15,293.77 $166,800.00
Less: Investments sold 10,000.00 10,000.00
Total Investments, to Exhibit 10 5172.093.77
General Fund Investments, to Exhibit 1 S 5.293.77
Debt Service Fund Investments, to
Exhibit 3 5166.800.00
All investments are depository savings certificates.
21
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 10.2
SCHEDULE OF INTERFUND TRANSFERS
DECEMBER 31, 1971
C°& 9J
Due To Due From Explanation
Prior Period (December 31, 1971 audit):
Improvement No. 1 Fund J $ 2,395.00 Demolition of old school building on park property paid
General Fund $ 2,395.00 by Improvement Fund
Water Operating Fund X3) 204.54 General Fund expenditures paid by Water Operating Fund
General Fund 204.54 during 1970
General Fund 481.25 Water Operating Fund Obligation to C & P Excavating paid
Water Operating Fund U 481.25 by General Fund during 1970
General Fund 191.95 Sewer Operating Fund Obligations re: damage at Irvin
Sewer Operating Fund 191.95 Hansen residence paid by General Fund during 1970
General Fund 43.75 Engineering services re: sewage treatment plant paid
Sewer Operating Fund C?) 43.75 by General Fund during 1970
General Fund 4,654.52 Legal and engineering services for improvements paid by
Improvement No. 1 Fund 4,654.52 General Fund during 1970
General Fund 1,500.00 Condemnation award paid by General Fund
Improvement No. 1 Fund ` 1,500.00
Current Period:
General Fund 4,225,00 Reimbursement to General Fund for remittance by
Sewer Operating Fund C2) 4,225.00 Metropolitan Sewer Board for salaries and benefits
thereon for maintenance of sewage treatment plant.
General Fund 817.57 Insurance paid by General Fund chargeable to Public
Water Operating Fund 0 353.57 Enterprise Funds
Sewer Operating Fund 464.00
Due from Other Funds, Exhibit 10 $ 14.513.58
Due to Other Funds, Exhibit 10 $ 14,513.58
%7,7
22
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 11
• SUMMARY STATEMENT OF RECEIPTS AND DISBURSEMENTS, ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1971
Treasurer's Treasurer's
Balance Transfers Transfers Balance
Fund 1/1/71 Receipts In Total Disbursements Out 12/31/71
General Fund, Exhibit 2 $ 66,783.67 $159,535.63 $226,319.30 $118,952.01 $107,367.29
Debt Service Funds:
G.O. Bonds of 1967 and 1968, Exhibit 4 34,203.20 124,078.39 158,281.59 95,326.90 62,954.69
G.O. Storm Sewer Bonds of 1971, Exhibit 4 8,048.44 8,048.44 8,048.44
Improvement Funds:
Improvement No. 1, Exhibit 6 (18,572.88) 750.00 (17,822.88) 65,758.00 (83,580.88)
Swager No. 2 Sewer & Water, Exhibit 6 23,336.16 (23,336.16)
Storm Sewer #3, Exhibit 6 170,000.00 170,000.00 199,751.08 (29,751.08)
Public Enterprise Funds:
Water Operating, Exhibit 8 6,965.52 20,317.71 27,283.23 12,169.49 15,113.74
Sewer Operating, Exhibit 8 3,779.62 24,524.49 28,304.11 15,710.06 12,594.05
Totals S 93.159.13 $507.254.66 $ -O- $600.413.79 $531.003.70 S -0-
Cash, Treasurer's Balance, All Funds,
to Exhibit 10 S 69.410.09
O
23
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 12
• STATEMENT OF BONDS PAYABLE
FOR THE YEAR ENDED DECEMBER 31, 1971
Retired Bonds Bonds
Prior Payable 1971 Transactions Payable
Bond Issue Date of Issue Interest Rates Oriqinal Issue Period 1 -1 -71 Issued Retired 12 -31 -71
General Obligation Improvement Bonds of 1967 September 1,
1967 4.5, 4.6, 4.7 $ 900,000.00 $ 25,000.00 $ 875,000.00 $ 25,000.00 $ 850,000.00
General Obligation Water and Sanitary Sewer Improvement
Bonds of 1968 March 1, 1968 4.8, 5 500,000.00 500,000.00 5,000.00 495,000.00
General Obligation Storm Sewer Improvement Bonds of 1971 May 1, 1971 5.4, 5.5, 5.6, 5.7 $ 173,000.00 173,000.00
Totals 51.400.000.00 S 25.000.00 51.375.000.00 S 173.000.00 S 30.000.00
Bonds Payable, to Exhibit 3 S1.518.000.00
•
2�
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 13
STATEMENT OF DEBT SERVICE CHARGES UNTIL MATURITY
• DECEMBER 31, 1971
Total
Bonds Payable, Exhibit 3 $1,518,000.00
Future Interest Payable, Exhibit 3 1,092,290.00
Totals $2,610,290,00
Payments to Maturity:
1972 $ 106,762.50_
1973 108,850.00
1974 1o4,225.00
1975 112,660.00
197 110,630.00
1977 113,487.50
1978 111,215.00
1979 1o8,925.00
1g 116,615.00
1981 113,805.00
1982 110,985.00
1983 1o8,115.00
1984 105,235.00
• 1985 102,315.00
1986 104,390.00
1987 101,225.00
1988 98,050.00
1989 99,870,00
1990 96,44o.00
1991 92,975.00
1992 79,795.00
1993 81,900.00
1994 78,770.00
199 75,640.00
1996 72,510.00
1997 69,380.00
1998 25,520,00
Totals 52.610.290.00
•
2�
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 14
SECURITY FOR DEPOSITS
DECEMBER 31, 1971
Assigned by First National Bank of Stillwater:
6.85% Federal Credit Bank Notes, dated July 1, 1971, due
January 2, 1974 $100.000.00
The above securities are on deposit with the First National
Bank of Minneapolis for safekeeping.
Assigned by Cosmopolitan State Bank of Stillwater:
3.8% Robbinsdale School District 281 Issue, dated 1958, due
February 1, 1975 $ 25,000.00
5% Burnsville General Obligation Issue, dated 1970, due
December 1, 1978 25,000.00
5.75% U.S. Treasury Notes, A -1970, due November 15, 1974 200,000.00
Total 5250.000.00
• The above securities are on deposit with the Northwestern
National Bank of Minneapolis
•
26
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 15
OFFICIAL BONDS
DECEMBER 31, 1971
Security:
Western Surety Company
Coverage:
Public Employees' Blanket Coverage $ 1,000.00
Ken Heuer, Clerk - Treasurer 10,000.00
• Bond Number: 5356124
Effective: August 20, 1970, Continuous
27
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 16
INSURANCE IN FORCE
DECEMBER 31, 1971
Date
Policy Number Effective Expiration Coveraqe Amount
Pacific Indemnity Insurance Company CMP28639 7/7/69 7/7/72 Fire and extended Municipal building $ 52,200.00
coverage, vandalism Water tank 65,340.00
and malicious mischief Sewage treatment
plant 47,700.00
Settling tanks 94,500.00
Recreation building
Swager Park 11,400.00
Recreation building
Lower Oak Park 11,400.00
$282.540.00
American Universal Insurance Company ML20014 7/7/71 7/7/74 Bodily injury co...�Cher�s auto l Y r `0 /300 000
Y , p_
- Property damage, comprehensive auto liability $50,000
Bodily injury, comprehensive general liability $50/300,000
Property damage, comprehensive general
liability $50/100,000
Personal injury, liability $50/300,000
Uninsured motorists $10/20,000
Comprehensive collision:
1968 Ford sedan $50 /ACV
1971 Ford sedan $50 /ACV
1968 Chevrolet 3/4 ton truck $50 /ACV
International Cub Cadet mower $50 /ACV
American Universal Insurance Company WC12200 12/31/71 12/31/72 Workmen's Compensation Statutory
Austin -St. Paul Mutual Insurance Company OC 80 - 5435 5/15/70 5/15/73 F're and extended Building $ 6,000.00
coverage for old Contents 1,000.00
town hall
S 7.000.00
2S
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 17
ORGANIZATION
1971
Term
Expires
Mayor:
Ramond N. Johnson 12/31/72
Councilmen:
Robert S. Torgerson 12/31/71
George 0. Monty 12/31/72
Donald Mondor 12/31/72
Frank Sommerfeldt 12/31/73
Clerk- Treasurer:
Ken Heuer Appointed
r� Attorney:
Lawson, Kelly, Ranum and Raleigh Appointed
Engineer:
Bonestroo, Rosene, Anderlik and Associates, Inc. Appointed
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 18
• TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES
1972 1971 1970
Taxable Valuations:
Real estate $10,163,739.00 $ 9,940,198,00 $10,124,314.00
Personal property 230,935.00 198,607,00 191,206.00
Totals $10.394,674,00 $10,138,805.00 $10,315,520,00
Tax Levies, extended by County
Auditor:
Extended in year 1971 1970 1969
Collectible in year 1972 1971 1 97 0
Revenue $ 131,076.84 $ 119,739.28 $ 115,946.44
Bonds and interest 67,253.54 56,878.70 54,569.10
Totals S 198,330.38 S 176,617.98 S 170.515.54
Mill Rates:
Revenue 12,61 11.81 11.24
Bonds and interest 6.47 5.61 5.29
Totals 19.08 17.42 1 3
30