HomeMy WebLinkAboutFinancial Statements December 31, 1972 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 1972
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
Page No.
AUDITOR'S REPORT
AUDITOR'S COMENTS I - VI
COMBINED BALANCE SHEET (ALL FUNDS) Exhibit 1 1
Investments Schedule 1.1 2
Interfund Accounts Schedule 1.2 3
Construction Work in Progress Schedule 1.3 4
Bonds Payable Schedule 1.4 5
Debt Service Charges Until Maturity Schedule 1.5 6
COMBINED STATEMENT OF CASH RECEIPTS AND
DISBURSEMENTS (ALL FUNDS) Exhibit 2 7
GENERAL FUND:
Balance Sheet Exhibit 3 8
Statement of Changes in Fund Balance Exhibit 4 9
Statement of Cash Receipts and Disbursements Exhibit 5 10
DEBT SERVICE FUNDS:
Combined Balance Sheet Exhibit 6 13
Statement of Changes in Amount to be Provided
For Debt Retirement Exhibit 7 14
Combined Statement of Cash Receipts and Disbursements Exhibit 8 15
IMPROVEMENT FUNDS:
Combined Balance Sheet Exhibit 9 16
Appropriations Schedule 9.1 17
Statement of Changes in Fund Balance Exhibit 10 18
Combined Statement of Cash Receipts and Disbursements Exhibit 11 19
PUBLIC SERVICE ENTERPRISE FUNDS:
Combined Balance Sheet Exhibit 12 20
Statement of Fixed Assets and Allowance for
Depreciation Schedule 12.1 21
Statement of Changes in Fund Balance Exhibit 13 22
Combined Statement of Cash Receipts and Disbursements Exhibit 14 23
REVENUE SHARING TRUST AND AGENCY FUND:
Balance Sheet Exhibit 15 24
Statement of Cash Receipts and Disbursements Exhibit 16 25
STATEMENT OF GENERAL FIXED ASSETS Exhibit 17 26
FOOTNOTES TO FINANCIAL STATEMENTS 27
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
TABLE OF CONTENTS
•
Page No.
SUPPLEMENTARY INFORMATION
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED
TAX LEVIES AND ALLOWANCE FOR UNCOLLECTIBLE TAXES 2 8
SECURITY FOR DEPOSITS 3
INSURANCE IN FORCE 33
ORGANIZATION 34
TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES 35
DELAH U NT VOTO & CO., LTD.
CERTIFIED PUBLIC ACCOUNTANTS
WHITE BEAR LAKE, MINNESOTA 55110
PHONE 426 -3263 310 WASHINGTON AVENUE
To the Honorable Mayor and Members
of the Village Council
Village of Oak Park Heights
Route #1
Stillwater, Mn. 55082
We have examined the Balance Sheets, Statements of Changes in Fund Balance,
Statements of Changes in Amount to be Provided for Debt Retirement and
Statements of Cash Receipts and Disbursements of the following funds of
the VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, as of December 31, 1972, and for
the year then ended:
GENERAL FUND
DEBT SERVICE FUNDS
IMPROVEMENT FUNDS
PUBLIC ENTERPRISE FUNDS
REVENUE SHARING FUND
Our examination (a limited general audit) was made in accordance with gen-
erally accepted auditing standards, and accordingly included such tests of
the accounting records and such other auditing procedures as we considered
• necessary in the circumstances.
The accompanying Statements of Cash Receipts and Disbursements have been
prepared on the cash basis (see Footnote 1) and therefore do not purport to
present the results of operations as they would have appeared had generally
accepted modified accrual basis governmental accounting principles been
applied in their presentation.
In our opinion, the accompanying Balance Sheets, Statements of Changes in Fund
Balance and Statements of Changes in Amount to be Provided for Debt Retirement
present fairly the financial position and the results of operations of the
various funds of the VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, at December 31,
1972, and for the year then ended, in conformity with generally accepted govern-
mental accounting principles applied on a basis consistent with that of the
preceding year. Also, in our opinion, the accompanying Statements of Cash
Receipts and Disbursements present fairly the recorded cash transactions of
the various funds of the VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, for the year
ended December 31, 1972, on a basis consistent with that of the preceding year.
DE LA HUNT VOTO it CO., LTD.
Certified Public Accountants
Date Field Work Completed: February 9, 1973
• Date Audit Report Signed: March 27, 1973
MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Village of Oak Park Heights
COMMENTS
•
The double -entry cash basis of accounting was put into effect on January 1,
1972. See Note I under Footnotes to Financial Statements for a detailed summari-
zation of the accounting principles utilized by the Village. The administrative
staff is to be commended for a job well done in converting to the double -entry
accounting system.
Securities for deposits in the amount of S250,000.00 pledged by the Cosmopolitan
State Bank of Stillwater is shown on Pace 32. An analysis shows:
Collateral provided as security fDr deposit: -
Securities Pledged S 250,000.00
9U1, Applicable S 225,000.00
F.D.I.C. Insurance 20,000.00
Collateral provided at 12/31/ S 245,000.00
Cash on Deposit at 12/31/72
Demand deposit account S 127,481.38
Cash deposit savings certificates 166,800.00
Collateral Required at 12/31/72 294,281.38
(Deficit) Collateral Provided at 12/31/72 S (49,281.38)
The clerk- treasurer has been notified of the deficit.
A summary statement of cash receipts and disbursements for all funds is pre-
sented in Exhibit 2. A combined balance sheet of all funds is presented in
Exhibit 1. A discussion follows.
CASH S 139.965.98
Clerk's Balance S 127,167,98
In Transit 9,174.00
Change Fund 50,00
Deposits with Paying Agents 3,574.00
Total S 13 9.965.98
Clerk's balance was verified by direct correspondence with the depository.
Cash in transit represents interest earned 1972 not recorded until January 3,
1973. Change fund was verified by count on January 2, 1973. Deposits with paying
agent was verified by direct correspondence. The deposits represent bond interest
• coupons which have matured and were unredeemed at December 31, 1972.
1
Village of Oak Park Heights
Comments, cont.
INVESTMENTS S 171 ,800, 00
Investment transactions are summarized in Schedule I.I. Investments were
confirmed by direct correspondence with the depository.
DUE FROM COUNTY AUDITOR S 118.548.09
The October, 1972, tax settlement was not distributed by the county auditor until
January, 1973. The January receipts consisted of the following:
Current and Delinquent Ad Valorem Taxes S 97,232.54
Current and Delinquent Special Assessments 19,314.98
Interest and Penalties on Delinquent Taxes
and Assessments 279,42
Homestead Credit 947.60
Mortgage Registration 773.55
Total 5 118,548.09
CONSTRUCTION WORK IN PROGRESS S 70,208.30
Summary of Construction Cost by Project is shown in Schedule 1.3. No construc-
tion was completed during 1972.
LOANS RECEIVABLE S 27,000.00
The council authorized a temporary transfer out of the General Fund to the
Sealcoating and Street Improvement ;V4 Improvement Fund in 1972.
TAXES RECEIVABLE - NET 51.722,635.00
Delinquent $ 1.613.91
Deferred 1,813,300.00
Total 51,814,913.91
Less: Allowance for Uncollectible Taxes 92,278.91
Net Taxes Receivable 51.722.635.00
Delinquent taxes were taken from the county auditor's delinquent tax roll in
1971 for years 1965 through 1971 and adjusted at December 31. 1972. to reflect 1972
delinquencies. The allowance for uncollectible taxes is computed at 5' of deferred
taxes and 100. of delinquent taxes.
II
Village of Oak Park Heights
Comments, cont.
SPECIAL ASSESSMENTS RECEIVABLE X 50.996.03
is Current $ 3,945 69
Delinquent 35,943.70
Deferred 311,106.64
Total Special Assessments Receivable $ 350.996.03
Delinquent assessments were taken from the county auditor's delinquent tax
rolls in 1971 and adjusted at December 31, 1972, to reflect 1972 delinquencies.
Deferred assessment represents that portion of assessment rolls adopted in
prior years which will be extended on the tax rolls in subsequent ,years (unless
remaining portion is prepaid).
ACCOUNTS RECEIVABLE S 41.302.48
Debt Service Funds:
Sewer and Water Connection Charges S 30,486.06
Public Enterprise Funds:
Sewer and Water Usage Charges 10 816.42
Total Accounts Receivable S 41.302.48
Negative form confirmation requests, which seek replies only where differences
i exist between the statement and the customers' records, were mailed with 100`/ of
the December 31, 1972, utility billings. No significant differences were reported.
DUE FROM METROPOLITAN SEWER BOARD S 367.89
Debt Service Credits Receivable Through 1997 $ 344,074.00
Deferred Charge (1971 Charges S9 ,865.73 plus
1972 Charges $4 ,356.07) Credits Receivable 14,221.80
1972 Sewage Treatment Plant Maintenance 9,600.00
Total Due from Metropolitan Se�, Board $ 367,895.80
The amount represents the debt service credits receivable from the January 1,
1971, Metropolitan Sewer Board acquisition of the Village sewage treatment plant
and interceptor sewer lines, 1971 and 1972 deferred charges and 1972 sewage treat-
ment plant maintenance.
FIXED ASSETS, NET 51,962,841.39
Details of fixed assets are shown in Schedule 12.1 Public Enterprise Fund's
• Statement of Fixed Assets and Allowance for Dep reciation, and Exhibit 1
P 7 Statement
of General Fixed Assets.
III
i
Village of Oak Park Heights
Comments, cont.
INTERFUND ACCOUNTS 48,927.85
$ .
The transfer of funds required in 1973 to adjust the December 31, 1972, cash
balances is shown in Schedule 1.2. Council resolution is required to affect these
transfers.
LIABILITIES 51.583.758.08
Liabilities were determined by generally accepted governmental auditing
procedures. All liabilities disclosed by our examination are included in this
report. A summary of bonds payable is presented in Schedule 1.4,
RESERVES 51 416 123 51
General Fund:
1972 Seal Coating Project S 13,607.00
Council authorized General Fund to
finance 1972 sealcoating project.
Project not completed during 1972,
sealcoatinq bid S12,370 plus 1TI
other costs $1,237 = $13,607.00
Debt Service Fund:
Future Interest on Bonds 51,015,527.50
Interest payments on all bond issues
to final maturity
Public Enterprise Funds:
Meter Deposits 19,998.21
Metropolitan Sewer Board Credits Receivable 358.295.80
Revenue Sharing Fund:
Future Expenditures 8,695.00
Total Reserves 51.416.123.51
AMOUNT TO BE PROVIDED FOR DEBT RETIREMENT $ 156.436.48
An analysis of changes in Amount to be Provided for Debt Retirement during 1972
is shown in Exhibit 7.
•
IV
L
Village of Oak Park Heiqhts
Comments, cont.
An analysis of remaining bond and interest requirements over provisions and
• future interest on deferred assessments for each debt service fund follows:
G. 0. Bonds of 1967 and 1968 Debt Service Fund:
Bond and Interest Requirements S2,235,770.00
Other Liabilities 8,200.18
Total Requirements 52,243 970 18
Assets Provided 52,119,671.28
Future Interest on Assessments (estimated) 220 ,453.31 2,340,124.59
(Excess) over Requirement S (96.154.41)
The fund has sufficient assets provided to meet all bond and interest require-
ments to maturity.
G. 0. Storm Sewer I ,provement Bonds of 1971
Debt Service Fund:
Bond and Interest Requirements S 267,757,50
Other Liabilities 13,392.85
Total Requirements S 28 1,150.35
Assets Provided S 249,012.77
Future Interest on Assessments (estimated) 10,384.40 259,397.17
Amount Required S 21.753.18
• The fund does not have sufficient assets to meet all
bond and interest requirements to maturity. Other
financing will have to be provided to permit the
fund to meet all its obligations.
The estimated future interest on special assessments shown is a figure based
on a calculation on deferred assessments without consideration of future prepayments
of deferred special assessments.
UNAPPROPRIATED FUND BALANCE 5 1 39.513.58
An analysis of changes in fund balances durinq 1972 are shown as follows:
General Find - Exhibit 4
The analysis shows a $44,194.18 increase in the fund balance
during 1972. The fund balance increased 538,827.14 during
1971, indicating the ad valorem taxes levied exceeded the
amount required in both years.
Improvement Funds - Exhibit 10
A discussion of each improvement fund shown follows:
Improvement No. 1 Improvement Fund:
The fund was closed in 1972 with a $87,340.40 transfer in from
G. 0. Bonds of 1967 and 1968 Debt Service Fund to eliminate the
January 1, 1972, fund balance deficit.
V
i
Village of Oak Park Heights
Comments, cont.
Swager No. 2 Sewer and Water Improvement Fund:
• The fund balance increased S4,838.40 during 1972. Future ,s
interest on assessments should increase the fund balance
an estimated S12,000.00. The amount will be available for
future construction.
Storm Sewer No, 3 Improvement Fund:
The fund has a fund balance deficit of 8 3f, 0 01 - 57 at December 31,
1972. All construction has been completed. It is recommended
a General Fund transfer eliminate the deficit in 1973.
Sealcoating and Street Improvement No. 4 Improvement Fund:
The fund has a 535,928.44 deficit at December 31, 1972.
Upon completion of the improvement, the General Fund will
finance the sealcoating portion of the project. The Street
No. 4 Improvement will be assessed to the benefitting
property owners.
Swager No. 3 and 4 Improvement Fund:
The fund has a S39,460.60 deficit at December 31, 1972. Upon
completion of the improvement, the project will be assessed
100` to the benefitting property owners.
Port of Sunnyside Improvement Fund:
The fund has a 5931,80 deficit at December 31, 1972. Upon
completion of the project, the improvement will be assessed
100% to the benefitting property owners with the exception
of the water service to the development.
Public Enterprise Fund - Exhibit 13
The Water Operating Public Enterprise Fund increased S232,92 and the
Sewer Operating Public Enterprise Fund increased $16,935.51 during
1972.
Respectfully submitted,
q
DE LA HUNT VOTO & CO„ LTD,
Certified Public Accountants
VI
L
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 1
COMBINED BALANCE SHEET (ALL FUNDS)
DECEMBER 31, 1972
PUBLIC SERVICE REVENUE
GENERAL_ DEBT SERVICE IMPROVEMENT ENTERPRISE SHARING GENERAL
TOTAL FUND FUNDS FUNDS FUNDS FUND FIXED ASSETS
(NOTE II) EXHIBIT 3 EXHIBIT 6 EXHIBIT 9 EXHIBIT 12 EXHIBIT 15 EXHIBIT 17
ASSETS
Cash:
Clerk's Balance (Deficit) $ 127,167.98 $127,834,.04 $ 28,044.17 $ (75,433.89) $ 38,028.66 $ 8,695.00
In Transit 9,174.00 9,174.00
Change Fund 50.00 50,00
Deposits with Paying Agents 3,574.00 3,574.00
Investments - Schedule 1.1 171,800.00 5,000,00 166,800.00
Due from County Auditor - Note III 118,548.09 65,972.37 51,394.97 1,180.75
Construction Work in Progress - Schedule 1.3 70,208.30 478.57 69,729.73
Due from Other Funds - Schedule 1.2 48,927.85 5,440,.25 28,605.57 14,882.03
Loans Receivable 27,000,00 27,000 00
Taxes Receivable, Net 1,722,635.00 1,722,635.00
Special Assessments Receivable 350,996.03 331,5 19,451.75
Accounts Receivable 41,302.48 30,486.06 10,816.42
Due from Metropolitan Sewer Board 367,895.80 367,895.80
Fixed Assets, Net 1,967,550.40 1,295,258.42 5672,291.98
Amount to be Provided for Debt Retirement 156,436.48 156,436.48
Total Assets $5.183.266.41 $231.775..23 $2.528,694.53 $ 29.810.37 S1.711.999.30 $ 8,695.00 $672.291.98
LIABILITIES, RESERVES,
APPROPRIATIONS, FUND BALANCES
Liabilities:
Accounts Payable $ 6,773,07 $ 5,463,16 $ 998.34 S 311.57
Contracts Payable 6,106.08 6,106.08
Salaries Payable 921.50 921.50
Bonds Payable - Schedule 1.3 1,488,000,00 $1,488,000.00
Due to Other Governmental Units 2 , 4 55.5 8 2,236.23 219.35
Due to Other Funds - Schedule 1.2 48,927.85 292.07 21,593.03 21,986.00 5,056.75
Matured Interest Payable 3,574.00 3,574,00
Loans Payable 27,000.00 27,000.00
Total Liabilities $1,583,758.08 S 8,912.96 $1,513,167.03 $ 56,090.42 $ 5,587.67
Reserves 1,416,123.51 13,607.00 1,015,527.50 378,294.01 $ 8,695.00
Appropriations 76,320.84 76,320.84
Fund Balance:
Unappropriated (Deficit) 139,513.58 209,255.27 (102,600.89) 32,859.20
Invested in Fixed Assets
1,967, 550. 40 1,295,258.42 $ 6'72, 291. 98
Total Liabilities, Reserves,
Appropriations and Fund Balance $5.183,266.41 5231.775.23 $2.528,694.53 $ 29,810.37 51.711.999.30 $ 8.695.00 $672.291.98
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 1.1
SUMMARY OF INVESTMENT TRANSACTIONS
• FOR THE YEAR ENDED DECEMBER 31, 1972
G.O. BONDS OF
1967 & 1968
TOTAL GENERAL DEBT SERVICE
(NOTE 1 1 ) FUND FUND
Investments, January 1, 1972 $172,093.77 S 5,293.77 $166,800.00
Deduct: Interest Added to Principal
in 1971 293.77 293.77
Total 5171,800.00 S 5,000,00 5166,800.00
Investments Purchased -0- -0- -0-
• Investments Sold -0- -0- -0-
Total Investments - To Exhibit 1 $171.800.00
General Fund Investments - To
Exhibit 3 S 5.000.00
Debt Service Fund Investments - To
Exhibit 6 5166,800,00
All investments are depository savings certificates.
•
2
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 1,2
SCHEDULE OF INTERFUND ACCOUNTS
DECEMBER 31, 1972
DUE FROM DUE TO
OTHER OTHER
DUE TO DUE FROM FUNDS FUNDS EXPLANATION
Storm Sewer No. 3 Improvement Fund $13,392.85 Interest payments for debt retirement paid by
Storm Sewer Improvement Bonds of 1971 incorrect fund
Debt Service Fund $13,392.85
G. 0. Bonds of 1967 & 1968 Debt Service Fund 2 ,953.L7 Prepaid assessments receipted into incorrect funds
L.l Swager No. 2 Sewer & Water Improvement Fund g 2J 693.42
Storm Sewer No. 3 Improvement Fund °3 2,260,05
Storm Sewer Improvement Bonds of 1971 %Ao y Prepaic assessments receipted into incorrect
Debt Service Fund 17 fund
Storm Sewer No. 3 Improvement Fund 6 3 17,965.23
G. 0. Bonds of 1967 & 1968 Debt Service Fund 491,07 Reclassify expenditures incorrectly paid by
/-Zo General Fund 292.07 debt service fund
Swager No, 2 Sewer & Water Improvement Fund v n D % 100,00
Water Operating Fund 99.00
G. 0. Bonds of 1967 & 1968 Debt Service Fund 48 4. 2 C Connect'on charge receipted into incorrect fund
Storm Sewer No. 3 Improvement Fund to 0,3 484,80
General Fund /o/ 647.50 Reclassify engineering, legal and planning
Port of Sunnyside Improvement Fund .aG} 287.50 expenditures
Water Operating Fund .?'o ' 165-00
Swager No. 2 Improvement Fund 5J 60,00
Swager No. 3 & 4 Improvement Fund r -44`x, ;J C) 50,00
Sealcoating & Street Improvement No. 4 a
Improvement Fund 85,00
Storm Sewer Bonds of 1971 Debt Service Fund 5,054,03 Adjust county tax settlement distribution t-
L10 G. 0. Bonds of 1967 & 1968 Debt Service Fund 5,05
Storm Sewer Bonds of 1971 Debt Service Fund y Z 1,656,97 Adjust county assessment settlement distribution
Swager No. 2 Sewer & Water Improvement Fund �o- 1,489.18
G. 0, Bonds of 1967 & 1968 Debt Service Fund 4,1v, 3,146.15
General Fund 567 .75 Insurarce premiums applicable to utility funds
Water Operating Fund ?,o/ 431.03 paid I-y General Fund
Sewer Operating Fund 136.72
General Fund „ 4,225.00 Reimbursement to General Fund for receivables from
Sewer Operating Fund 3 0- 4,225,00 Metrocolitan Sewer Board for maintenance of sewage
treatment plant. Salaries and benefits paid by
General Fund
Due From Other Funds - To Exhibit 1 $48.927.8=
Due To Other Funds - To Exhibit 1 $48.927.85
3
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 1.3
SUMMARY OF CONSTRUCTION COSTS BY PROJECT
DECEMBER 31, 1972
PLANNING INSPECTION EXPENDED DUE TO
& & PRIOR CURRENT ACCOUNTS CONTRACTS OTHER
CONTRACTOR LEGAL ENGINEERING TESTING OTHER TOTAL PERIOD PERIOD PAYABLE PAYABLE FUNDS
IMPROVEMENT FUNDS:
Sealcoating & Street Improvement #4
Fund $26,532.96 $ 60.00 $ 2,945.05 $ 96.00 $ 79.20 $29,713.21 $26,983.01 $ 2,645.20 $ 85.00
Swager No. 3 & No. 4 Improvement Fund:
Swager No. 3 & Brekke Heights
Improvement Project 34,633.80 4,373.52 77.40 39,084.72 34,628.00 945.84 3,460.88 50.00
Port of Sunnyside Improvement Fund 330.00 275.00 253,00 73.80 931.80 591.80 52.50 287.50
Total Improvement Funds $61,166.76 $ 390.00 $ 7,593.57 $ 349,00 $ 230.40 $69,729.73 $ -0- $62,202.81 $ 998.34 $ 6,106.08 $ 422.50
GENERAL FUND:
Highway 212 and 67 $ 383.57 S 383.57 $ 358.57 $ 25.00
Water Tower No, 2 95.00 95.00 95.00
Total General Fund $ 478.57 $ 478.57 $ 358.57 S 120.00
Grand Totals $61.166.76 $ 390.00 $ 8.072.14 $ 349.00 S 230.40 S 358.57 $62.322.81 S 998.34 $ 6.106.08 $ 422.50
Total Construction Costs $70,208.30
Completed Projects -0-
Construction Work in Progress
To Exhibit 1 $70.208.30
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 1.4
STATEMENT OF BONDS PAYABLE
FOR THE YEAR ENDED DECEMBER 31, 1972
RETIRED BONDS RETIRED BONDS
ORIGINAL PRIOR PAYABLE CURRENT PAYABLE
BOND ISSUE DATE OF ISSUE INTEREST RATES ISSUE PERIODS 1/1/72 PERIOD 12/31/72
General Obligation Improvement Bonds
of 1967 September 1, 1967 4.5,4,6,4.7 S 900,000,00 $ 50,000.00 $ 850,000.00 $ 25,000.00 S 825,000.00
General Obligation Water and Sanitary
Sewer Improvement Bonds of 1968 March 1, 1968 4,8,5 500,000„00 5,000.00 495,000.00 5,000.00 490,000.00
General Obligation Storm Sewer
Improvement Bonds of 1971 May 1, 1971 5.4,5.5,5.6,5.7 173,000„00 173,000.00 173,000.00
Totals $1.573.000.00 S 55.000.00 $1.518.000.00 $ 30.000.00
Bonds Payable - To Exhibits 1 and 6 $1.488.000.00
•
tJ,
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 1.5
STATEMENT OF DEBT SERVICE CHARGES UNTIL MATURITY
DECEMBER 31, 1972
1p
TOTAL
Bonds Payable - Exhibit 6 S1,488,000.00
Future Interest Payable - Exhibit 6 1,015,527.5
Totals 52.503.527.50
Payments to Maturity:
1973 S 108,850.00
1974 104,225,00
1975 112,66o.00
1976 110,630.00
1977 113,487.50
1978 111,215.00
1979 108,925.00
1980 116,615.00
1981 113,805-
1982 110,985.00
1983 108,115.00
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 96,440.00
1991 92,975.
1992 79,795.00
1993 81,900,00
1994 78,770.00
1995 75,64o.00
1996 72,510.00
1997 69,380.00
1998 25.520.00
Totals 52.503,527,50
VILLAGE OF OAK PARK, HEIGHTS, MINNESOTA EXHIBIT 2
SUMMARY STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS (ALL FUNDS)
• FOR THE YEAR ENDED DECEMBER 31, 1972
CASH CASH
CLERK'S CLERK'S
BALANCE TRANSFERS INVESTMENTS TRANSFERS INVESTMENTS BALANCE
1/1/72 REVENUE IN SOLD TOTAL EXPENDITURES OUT PURCHASED 12/31/72
General Fund - Exhibit 5 $107,367.29 $178,286.65 5 11,914.04 $297,567.98 5140,125.40 5 29,599.54 5127,834.04
Debt Service Funds - Exhibit 8 71,003.13 138,649.53 209,652.66 94,268.09 87,340.40 28,044.17
Improvement Funds - Exhibit 11 (136,668.12) 28,499,50 116,735.40 8,566.78 77,846.15 6,154.52 (75,433.89)
Public Service Enterprise Funds - Exhibit 14 27,707.79 39,476.56 204.54 67,388.89 23,600.71 5,759.52 38,028.66
Revenue Sharing Trust and Agency Fund -
Exhibit 16 -0- 8,695.00 8,695.00 8,695.00
Totals $ 69.410.09 $393.607.24 5128.853.98 $ -0- $591.871.31 $335.840.35 $128.853.98 $ -0-
Cash, Clerk's Balance - To Exhibit 1 $127.167.98
r,
s
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 3
GENERAL FUND
• BALANCE SHEET
DECEMBER 31, 1972
ASSETS
Cash, Clerk's Balance - Exhibit 5 5127,834.04
Change Fund 50.00
Investments - Schedule 1.1 5,000.00
Due from County Auditor - Note 111 65,972.37
Construction Work in Progress - Schedule 1.3 478.57
Due from Other Funds - Schedule 1,2 5,440.25
Loans Receivable 27,000,00
Taxes Receivable:
Delinquent S 1,371.05
Less: Allowance for Uncollectible Taxes 1,371.05 -0-
Total Assets 5231,775.23
• LIABILITIES, RESERVES AND FUND BALANCE
Liabilities:
Accounts Payable S 5,463.16
Salaries Payable 921.50
Due to Other Governmental Units 2,236.23
Due to Other Funds - Schedule 1.2 2 9 2 . 0 7
Total Liabilities S 8,912.96
Reserve:
1972 Sealcoating Project 13,607,00
Fund Balance - Exhibit 4 209,255.
Total Liabilities, Reserves and
Fund Balance $231.775.23
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBI 4
GENERAL FUND
• ANALYSIS OF CHANGES IN FUND BALANCE
FOR THE YEAR ENDED DECEMBER 31, 1972
Fund Balance, January 1, 1572 $165,061.09
Changes in Fund Balance in 1972:
Excess of Revenue over Expenditures:
Revenue - Exhibit 5 s 177,423 . 15
Expenditures - Exhibit 5 140,134.40
Excess of Revenue over Expenditures $ 37.288.75
Increase in Receivables:
December 31, 1972 S 71,412.62
January 1, 1972 70,681.94
Increase in Receivables 730.68
Decrease in Payables:
January 1, 1972 S 18,640.48
• December 31, 1972 8,912.96
Decrease in Payables 9,7
Other Increases:
Permanent Transfers In - Exhibit 5 $ 11,914.04
Work in Progress Increase 120.00
Establish Change Fund 50.00
Unremitted 1972 Payroll Deductions
and Surcharges Collected 863
Other Increases 12,947'54
Other (Decreases):
Permanent Transfers Out - Exhibit 5 S (2,599.5
Establish Encumbrance for 1972
Sealcoating Project (13,607.00)
Adjust Investment to Acquisition Cost (
Other (Decreases) (16,500.311
Increase in Fund Balance During 1972 44,194.18
Fund Balance, December 31, 1972 - To Exhibit 3 S209,255.27
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXhIBIT 5
GENERAL FUND PAGE 1
• STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
Cash, Clerk's Balance, January 1, 1972 S107,367.29
Receipts:
Revenue:
General Property Taxes:
Current and Delinquent $123,695.77
Homestead Credit 1,739.9
Penalties and Interest on Delinquent
Taxes 136.12
Licenses:
Dog 585.00',
Cigarette 111.00,
Contractor 745.00>
Liquor and Nonintoxicating Malt 1,465.00
Sundry 533.36,
Permits 15,823.13
Fines and Forfeits:
Court Fines 460.00
Revenue from Other Agencies:
Shared Taxes:
State Aid 16,250.64
Exempt Reimbursement 43.77
Per Capita Sales Tax 297.39
Mortgage Registration 2,9
Mobile Home 21.33
Cigarette 2,315.06
Liquor 2,055.08
Grants:
State - Police Protection 5,1
Charges for Current Services:
General Government 324.00
Recreation 613.84
Sale and Compensation for Loss of Properties:
Sale of Property 1.00
Other:
Refunds and Reimbursements 1,913.
Donations 220.00
Total Revenue 5177,
Transfers In:
Permanent 11,914.04
Total Receipts 189.337.19
Total - To Page 2 S296,704.48
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 5
GENERAL FUND PAGE 2
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
Total Cash, forward from Page 1 S296,704,48
Disbursements:
Expenditures:
General Government:
Mayor and Council:
Current Expense $ 18,587,50
Municipal Court:
Current Expense 165.00
Elections:
Current Expense 628.64
Village Clerk:
Current Expense 7,368.23
Planning & Zoning:
Current Expense 8,755.48
Municipal Building:
Current Expense 1,914,86
Capital Outlay 537,20
Total General Government S 37,956.91
Public Safety:
Police Department:
Current Expense $31,781.85
• Capital Outlay 4,321.00
Fire Department:
Current Expense 4,983.00
Protective Inspections:
Current Expense 5,131.95
Total Public Safety 46,217,80
Highways:
Streets and Alleys:
Current Expense $ 8,895.72
Ice and Snow Removal:
Current Expense 3,166.91
Street Lighting:
Current Expense 4,630,90
Capital Outlay 8,638,80;'
Total Highways 25,332.33
Sanitation and Waste Removal:
Refuse Collection and Disposal:
Current Expense S 1,160.80
Weed Eradication:
Current Expense 603,50
Storm Sewers:
Current Expense 20.00
Total Sanitation and Waste Removal 1,784,30
i Total Expenditures Forward to
Page 3 $111,291.34
Total Cash Forward to Page 3 $296,704.48
- .'Capitalized in 1971
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 5
GENERAL FUND PAGE 3
• STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
Total Cash Forward from Page 2 S296,704.48
Disbursements (continued):
Expenditures (continued):
Total Forward from Page 2 S111,291,34
Recreation:
Parks, Playgrounds, Skating Rinks:
Current Expense $16,500.37
Capital Outlay 964,91
Total Recreation 17,465,28
Special Services:
Utilities:
Current Expense $10,587.52
Total Special Services 10,587.52
Other:
Refunds and Reimbursements:
Current Expense $ 740.26
Establish Petty Cash Fund 50.00
Total Other 790,26
• Total Expenditures 5140,134.40
Transfers Out:
Permanent $ 2 ,599.54
Temporary 27,000,00
Total Transfers Out 29,599,54
Total Disbursements 169,733.94
Total Cash 5126,970,54
Add:
Unremitted 1972 payroll deductions and surcharges
collected:
Payroll deductions and surcharges collected S 12,694.03
Remitted to governmental units 11,830.53
Total Additional 863,50
Cash, Clerk's Balance, December 31, 1972
To Exhibit 3 5127.834.04
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 6
DEBT SERVICE FUNDS
. BALANCE SHEET
DECEMBER 31, 1972
DEBT SERVICE FUND
G.O. STORM
G.O. BONDS SEWER
TOTAL OF IMPROVEMENT
(NOTE II) 1967 & 1968 BONDS OF 1971
ASSETS
Cash:
Clerk's Balance - Exhibit 5 S 28,044.17 S 19,995.73 S 8,048,44
In Transit 9,174.00 9,174.00
With Paying Agent 3,574.00 3,574.00
Investments - Schedule 1,1 166,800,00 166,800,00
Due from County Auditor - Note III 51,394.97 45,131.98 6,262.99
Due from Other Funds - Schedule 1.2 28,605.57 3,929.34 24,676.23
Connection Charges Receivable 30,486,06 30,486.06
Totals 5 318,078.77 5 279,091,11 S 38,987.66
Taxes Receivable:
Delinquent S 242,86 $ 238.76 S 4,10
Deferred 1,813,300,00 1,609,300.00 204,000.00
Total 51,813,542.86 $1,609,538.76 S204,004.10
Less: Allowance of Uncollectible
• Taxes 90,907.86 80,703.76 10,204.10
Net Taxes Receivable 1,722,635.00 $1,528,835.00 5193,800.00
Special Assessments Receivable:
Delinquent S 3,372.34 $ 2,723.69 S 648.65
Current 33,625.30 31,712.41 1,912.89
Deferred 294,546,64 280,883.07 13,663.57
Total Special Assessments
Receivable S 331,544.28 $ 315,319.17 S 16,225.11
Amount to be Provided for Debt
Retirement - Exhibit 7 S 156,436.48 5 124,298,90 S 32,137.58
Total Assets S2,528,694.53 $2,247,544.18 S281.150.35
LIABILITIES AND RESERVES
Liabilities:
Bonds Payable - Schedule 1,3 S1,488,000.00 S1,315,000,00 S173,000.00
Due to Other Funds - Schedule 1,2 21,593.03 8,200.18 13,392.85
Matured Interest Payable 3,574.00 3,574.00
Total Liabilities Si,513,167.03 51,326,774,18 5186,392.85
Reserves:
Future Interest on Bonds 1,015,527.50 920,770.00 94,757.50
• Total Liabilities and Reserves S2.528.69 S2.247.544.18 5281.150.35
II 1 4�
l
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 7
DEBT SERVICE FUNDS
ANALYSIS OF CHANGES IN AMOUNT TO BE PROVIDED FOR DEBT RETIREMENT
FOR THE YEAR ENDED DECEMBER 31, 1972
DEBT SERVICE FUND
G.O. STORM
G.O. BONDS SEWER
TOTAL OF IMPROVEMENT
(NOTE II) 1967 & 1968 BONDS OF 1971
Amount to be Provided for Debt
Retirement, January 1, 1972 5 (130,558.41) S (96,994.14) $(33,564,27)
Changes in Amounts to be Provided for
Debt Retirement during 1972:
Excess of Revenue over Expenditures:
Revenue - Exhibit 8 S 138,649.53 $ 138,649.53
Expenditures - Exhibit 8 94,268.09 94,268.09
Excess of Revenue over
Expenditures S 44,381.44 S 44,381.44
(Decrease) in Receivables:
December 31, 1972 52,164,665.88 $1,923,701.55 $240,964.33
January 1, 1972 2,241,928.46 2,002,621.17 239,307.29
(Decrease) in Receivables S (77,262,58) S (78,919.62) S 1,657.04
Decrease in Liabilities:
January 1, 1972 $1,518,000.00 $1,345,000,00 $173,000.00
December 31, 1972 1,509,593.03 1,323,200.18 186,392.85
Decrease in Liabilities S 8,406.97 $ 21,799.82 $(13,39
Decrease in Reserves:
January 1, 1972 $1,092,290,00 S 984,370.00 $107,920.00
December 31, 1972 1,015,527.50 920,770.00 94,757.50
Decrease in Reserves $ 76,762.50 S 63,600.00 $ 13,162.50
Other Changes:
(Increase)
Transfers Out - Permanent S (87,340.40) S (87,340.40)
Decrease:
Interest Earned on Investments in
Transit at December 31, 1972 $ 9,174.00 S 9,174.00
Decrease (Increase) in Amount to be
Provided for Debt Retirement During
1972 S (25,878.07) S (27,304.76) 5 1,426.69
Amount to be Provided for Debt
Retirement, December 31, 1972
To Exhibit 6 S (156.436.48) S (124,298.90) $(32.137.58)
IL
� �1
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 8
DEBT SERVICE FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
DEBT SERVICE FUND
G.O. STORM
G.O. BONDS SEWER
TOTAL OF IMPROVEMENT
(NOTE II) 1967 & 1968 BONDS OF 1971
Cash, Clerk's Balance, January 1, 1972 5 71,003.13 $ 62,954.69 S 8,048.44
Receipts:
Revenue:
General Property Taxes:
Current and Delinquent 5 62,143,54 S 62,143.54(1)
Special Assessments:
Collected by Village:
Prepayments 7,663.12 7,663.12
Connection Charges 34,902.31 34,902.31
Collected by County:
Current and Delinquent 33,172.47 33,172.47(2)
Interest Received on Connection Charges 768.09 768.09
Total Revenue 5138,649.53 $138,649.53
Total 5209,652.66 $201,604.22 S 8,048.44
Disbursements:
Expenditures:
Debt Retirement. .
Principal $ 30,000.00 $ 30,000.00
Interest 63,600.00 63,600,00
Paying Agent's Charges 177.02 177,02
Other 491.07 491,07(3)
Total Expenditures S 94,268,09 $ 94,268.09
Transfers Out:
Permanent 87,340.40 87,340.40
Total Disbursements 5181,608.49 $181,608.49
Cash, Clerk's Balance, December 31, 1972
To Exhibit 6 S 28.044.17 $ 19,9 S 8,048.44
(1) S5,054.03 incorrectly receipted - to be transferred to other funds
during 1973
(2) $3,146.15 incorrectly receipted - to be transferred to other funds
during 1973
(3) Incorrectly disbursed - to be reimbursed by other funds during 1973
0 NOTE: Transactions pertaining to the G.O. Storm Sewer Improvement Bonds of 1971
Debt Service Fund were incorrectly recorded in other funds - to be adjusted
during 1973. See Schedule 1.2 (Schedule of Interfund Accounts) for details.
IL
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 9
IMPROVEMENT FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1972
•
IMPROVEMENT FUND
SEALCOATING
SWAGER NO. 2 STORM & STREET PORT
TOTAL SEWER AND SEWER IMPROVEMENT SWAGER OF
(NOTE II) WATER NO. 3 NO. 4 NO. 3 & 4 SUNNYSIDE
ASSETS
Cash:
Clerk's Balance (Deficit) - Exhibit 11 $(75,433.89) $(15,546.74) $(24,684.34) $ 16.99 $(34,628.00) $ (591.80)
Due from County Auditor - Note III 1,180.75 1,180.75
Due from Other Funds - Schedule 1.2 14,882.03 1,489.18 13,39
Construction Work in Progress - Schedule 1.3 69,729.73 29,713. 39,084.7 931.80
Total $ 10,358.6 $(12,876.81) $(11,291.49) $ 29,730.20 $ 4,456.72 $ 340.00
Special Assessments Receivable:
Delinquent $ 573.35 $ 573.35
Current 2,318,40 2,318.40
Deferred 16,560.00 16,560.00
Total Special Assessments Receivable $ 19,451.75 $ 19,
i
TOTAL ASSETS $ 29.810.37 $ 6.574.94 $(11.291.49) $ 29.730.20 S 4.456.72 $ 340.00
• LIABILITIES, APPROPRIATIONS AND FUND BALANCE
Liabilities:
Accounts Payable $ 998.34 $ 945.84 $ 52.50
Contracts Payable 6,106.08 $ 2,645.20 3,460.88
Due to Other Funds - Schedule 1.2 21,986.00 $ 853.42 $ 20,710.08 85.00 50.00 287.50
Loans Payable 27,000.00 27,000.00
Total Liabilities $ 56,090.42 $ 853.42 $ 20,710.08 $ 29,730.20 $ 4,456.72 $ 340.00
Appropriations - Schedule 9.1 76,320.84 35,928.44 39,460.60 931.80
Fund Balance (Deficit) - Exhibit 10 (102,600.89) 5,721.52 (32,001.57) (35,928.44) (39,460.60) (931.80)
TOTAL LIABILITIES, APPROPRIATIONS AND
FUND BALANCE $ 29.8 5 6.574.94 5(11.291.49) S 29.730.20 $ 4.456.72 $ 340.00
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 9.1
IMPROVEMENT FUNDS
APPROPRIATIONS
DECEMBER 31, 1972
s
IMPROVEMENT FUND
SEALCOATING
& STREET PORT
TOTr,L IMPROVEMENT SWAGER OF
(NOTE II) NO. 4 NO. 3 & 4 SUNNYSIDE
Construction Work in Progress -
Exhibit 9 $ 69,729.73 S 29,713.21 $ 39,084.72 S 931.80
Add:
Encumbrances:
Contract:
Contract Award & Changeovers $ 66,120.90 S 31,236.90 $ 34,884.00
Deductions:
Payments (55,035.68) (23,887.76) (31,147.92)
Payable December 31, 1972 (6,106.08) 2,645.20 (3,460.88)
Total Contract Encum-
brances $ 4,979.14 S 4,703.94 $ 275.20
• Engineering Fees:
Payable - Percent of Contracts
Awarded and Changeovers $ 6,612.09 $ 3,123.69 $ 3,488.40
Deductions:
Payments (4,054.28) (1,612.40) (2,441.88)
Payable December 31, 1972 (945.84) (945.84)
Total Engineering Fees
Encumbrances $ 1,611.97 $ 1,511.29 S 100.68
Total Encumbrances $ 6,591.11 S 6,215.23 S 375.88
Appropriations - To
Exhibit 9 $ 76,320.84 S 35.928.44 S 39.460.60 S 931.80
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 10
IMPROVEMENT FUNDS
ANALYSIS OF CHANGES IN FUND BALANCES
FOR THE YEAR ENDED DECEMBER 31, 1972
IMPROVEMENT FUND
SEALCOATING
SWAGER NO. 2 STORM & STREET PORT
TOTAL IMPROVEMENT SEWER AND SEWER IMPROVEMENT SWAGER OF
(NOTE II) NO. 1 WATER NO. 3 NO. 4 NO. 3 & 4 SUNNYSIDE
Fund Balance (Deficit) January 1, 1972 5(118,446.35) $(87,340.40) $ 883.12 $(31,989.07) $ -0- $ -0-
Changes in Fund Balance in 1972:
Excess (Deficit) of Revenue over Expenditures:
Revenue - Exhibit 11 $ 28,499.5 $ 7,789.42 $ 20,710.08 S -0- $ -0- S -0-
Expenditures - Exhibit 11 77,846.15 -0- 15,643.34 26,983.01 34,628.00 591.80
Excess (Deficit) of Revenue over
Expenditures $ ( 49,346.65) $ 7,789.42 S 5,066.74 $(26,983.01) $(34,628.00) S (591.80)
Increase (Decrease) in Receivables:
December 31, 1972 $ 35,514.53 $ -0- S 22,121.68 $ 13,392.85
January 1, 1972 26,614.28 2,395.00 24,219.28 -0-
Increase (Decrease) in Receivables 5 8,900.25 $ (2,395.00) $ (2,097.60) $ 13,392.85
• Decrease (Increase) in Payables:
January 1, 197L $ 8,392.51 $ 6,154.52 $ " $ 2,237.99 $ -0- $ -0- S -0-
December 31, 1972 29,090.42 -0- 853.42 20,710.08 2,730.20 4,456.72 340.00
Decrease (Increase) in Payables $ ( 20,697.91) $ 6,154.52 $ (853.42) $(18,472.09) $ (2,730.20) $ (4,456.72) S (340.00)
Other Increases:
Permanent Transfers in - Exhibit 11 $ 89,735.40 $ 89,735.40
Other (Decreases):
Permanent Transfers Out - Exhibit 11 $ ( 6,154.52) $ (6,154,52)
Encumbrances - Schedule 9.1 (6,591,11) $ (6,215.23) $ (375.88)
Total Other (Decreases) $ ( 12,745.63) $ (6,154.52) $ (6,215.23) $ (375.88)
Increase (Decrease) in Fund Balance
During 1972 S 15,845.46 $ 87,340.40 $ 4,838.40 $ (12.50) S(35,928.44) $(39,460.60) S (931.80)
Fund Balance (Deficit) December 31, 1972
To Exhibit 9 $(102.600.89) $ -0- $ 5.721.52 $(31.001.57) 5(35.928.44) S(39.460.60) S (931.80)
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 11
IMPROVEMENT FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
•
IMPROVEMENT FUND
SEALCOATING
SWAGER NO. 2 STORM & STREET PORT
TOTAL IMPROVEMENT SEWER AND SEWER IMPROVEMENT SWAGER OF
(NOTE II) NO. 1 WATER NO. 3 NO. 4 NO. 3 & 4 SUNNYSIDE
Cash, Clerk's Balance (Deficit) January 1, 1972 $(136,668.12) $(83,580.88) $(23,336.16) $(29,751.08)
Receipts:
Revenue:
Special Assessments:
Collected by Village:
Prepayments $ 24,414.70 $ 4,189.42(1)$ 20,225.28(2)
Connection Charges 4,084.80 3,600.00 484.80(2)
Total Revenue $ 28,499.50 $ 7,789.42 $ 20,710.08
Transfers In:
Permanent 89,735.40 $ 89,735.40
Temporary 27,000.00 $ 27,000.00
Total Receipts $ 145,234.90 $ 89,735.40 $ 7,789.42 $ 20,710.08 $ 27,000.00
Total (Deficit) $ 8,566.78 $ 6,154.52 $(15,1546.74) $ (9,041.00) S 27,000.00
Disbursements:
Expenditures:
Construction Costs $ 64,453.30 $ 2,250.49 $ 26,983.01 $ 34,628.00 $ 591.80
Debt Retirement 13,392.85 13,392.85(3)
Total Expenditures $ 77,846.15 $ 15,643.34 $ 26,983.01 $ 34,628.00 $ 591.80
Transfers Out:
Permanent 6,154.52 $ 6,154.52
Total Disbursements $ 84,000.67 $ 6,154,52 $ 15,643.34 $ 26,983.01 $ 34,628.00 $ 591.80
Cash, Clerk's Balance (Deficit)
December 31, 1972 - To Exhibit 9 $ (75.433.89) $ -0- $(15.546.74) $(24.684.34) $ 16.99 $(34.628.00) $ (591.80)
(1) $693.42 incorrectly receipted - to be transferred to other fund during 1973
(2) Incorrectly receipted - to be transferred to other funds during 1973
(3) Incorrectly disbursed - to be reimbursed by other fund during 1973
4
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 12
PUBLIC SERVICE ENTERPRISE FUNDS
COMBINED BALANCE SHEET
DECEMBER 31, 1972
•
PUBLIC ENTERPRISE FUND
TOTAL WATER SEWER
(NOTE II) OPERATING OPERATING
ASSETS
Cash, Clerk's Balance - Exhibit 13 S 38,028.66 S 18,304.64 S 19,724,02
Accounts Receivable 10,816.42 5,840.14 4,976,28
Due from Metropolitan Sewer Board 367,895.80 367,895.80
Total S 416,740.88 S 24,144.78 S 392,596.10
Fixed Assets - Schedule 12.1 51,377,516.11 S554,925.16 S 822,590.95
Less: Allowance for Depreciation -
Schedule 12.1 82,257.69 34,742.30 47,515.39
Net Fixed Assets 51,295 S520,182.86 S 775,075.56
Total Assets S1.711.999.30 S544.327.64 $1,167.671.66
LIABILITIES, RESERVES, FUND BALANCE
Liabilities:
Accounts Payable S 311.57 S 149.28 $ 162.29
Due to Other Funds - Schedule 1.2 5 695.03 4,361.7
Due to Other Governmental Units 219.35 219.35
Total Liabilities S 5,587.67 $ 1,063.66 S 4,524,01
Reserves:
Meter Deposits S 19,998. S 19,998.
Metropolitan Sewer Board Credits
Receivable 358,295.80 $ 358,295.80
Total Reserves S 378,294.01 S 19,998.21 S 358,295.80
Fund Balance:
Unappropriated - Exhibit 13 S 32,859.20 $ 3,082.91 S 29,776.29
Invested in Fixed Assets 1,2959258. 520,182.86 775,075.56
Total Fund Balance S1,328,117.62 5523,265.77 S 804,851.85
Total Liabilities, Reserves and
Fund Balance S1,711.999.30 $544.327.64 $1,167,671.66
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 12.1
PUBLIC SERVICE ENTERPRISE FUNDS
STATEMENT OF FIXED ASSETS AND ALLOWANCE FOR DEPRECIATION
40 FOR THE YEAR ENDED DECEMBER 31, 1972
FIXED ASSETS ACCUMULATED DEPRECIATION
BALANCE BALANCE BALANCE BALANCE BOOK VALUE
YEAR JANUARY 1, ADDITIONS DECEMBER 31, JANUARY 1, ADDITIONS DECEMBER 31, DECEMBER 31,
ACQUIRED 1972 (DISPOSALS) 1972 RATE 1972 1972 1972 1972
WATER OPERATING:
Buildings and Structures:
Deep Well Pump No. 1 and Elevated Water
Storage Tank 1968 $104,522.14 $104,522.14 2 $ 6,271.32 S 2,090.44 $ 8,361.76
$ 96,160.38
Machinery and Equipment:
1968 Chevrolet 3/4 Ton Truck - 1/2 cost 1968 999.50 999.50 20 599.70 199.40 799.10 200.40
#9TP31A Pump with Suction Hose - 1/2 cost 1970 280.47 280.47 10 28.05 28.05 56.10 224.37
Hydrant Markers with Accessories (90) 1971 535.50 535.50 10 53.55 53.55 481.95
Top Extension and Rod Assembly (6) 1971 276.70 276.70 10 27.67 27.67 249.03
Incubator 1971 99.00 99.00 10
9.90 9.90 89.10
Incubator and pump 1972 $ 108.68 108.68 108.68
Water Distribution System 438,893.12 9,210.05 448,103.17 2 16,656.36 8,777.86 25,434.22 422,668.95
Totals $545.606.43 $ 9.318.73 S 23.555.43 S 11.186.87
Fixed Assets - To Exhibit 12 $554.925.16
• Depreciation Reserve - To Exhibit 12 $ 34.742.30
Fund Balance Invested In Fixed Assets
To Exhibit 12
$520.182.86
SEWER OPERATING:
Machinery and Equipment:
1968 Chevrolet 3/4 Ton Truck - 1/2 cost 1968 $ 999.50 $ 999.50 20 $ 599.70 $ 199.40 $ 799.10 $ 200.40
#9TP31A Pump with Suction Hose - 1/2 cost 1970 280.47 280.47 10 28.05 28.05 56.10 224.37
General Auger 1970 56.03 56.03 5 2.80 2.80 5.60 50.43
Lateral Lines and Lift Stations 821,254.95 821,254.95 2 30,229.49 16,425.10 46,654.59 774,600.36
Totals $822.590.95 $ 30.860.04 S 16.655.35
Fixed Assets - To Exhibit 12 $822.590.95
Depreciation Reserve - To Exhibit 12 $ 47.515.39
Fund Balance Invested In Fixed Assets
To Exhibit 12
$775.075.56
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 13
PUBLIC SERVICE ENTERPRISE FUNDS
ANALYSIS OF CHANGES IN UNAPPROPRIATED FUND BALANCES
FOR THE YEAR ENDED DECEMBER 31, 1972
i
PUBLIC ENTERPRISE FUND
TOTAL WATER SEWER
(NOTE II) OPERATING OPERATING
Unappropriated Fund Balance, January 1, 1972 S 15,690.77 $ 2,849.99 $ 12,840.78
Changes in Fund Balance in 1972:
Excess of Revenue over Expenditures:
Revenue - Exhibit 14 S 36,881.86 $ 19,657.35 S 17,224.51
Expenditures - Exhibit 14 23,565.71 18,395.87 5,169.84
Excess Revenue over Expenditures S 13,316,15 $ 1,261.48 S 12,054.67
(Decrease) in Receivables:
December 31, 1972 S 10,816.42 $ 5,840.14 S 4,976.28
January 1, 1972 12,429.22 6,534.16 5,895.06
(Decrease) in Receivables S (1,612.80) $ (694,02) S (918.78)
Decrease in Liabilities:
January 1, 1972 S 6,753.47 $ 1,359.40 $ 5,394.07
December 31, 1972 5,587.67 1,063.66 4,524.01
Decrease in Liabilities S 1,165.80 $ 295,74 S 870,06
Other Increases (Decreases):
Increases:
Permanent Transfers In - Exhibit 14 S 204,54 $ 204,54
Reimbursements Receivable - Metropolitan
Sewer Board - 1972 Maintenance of
Sewage Treatment Plant 9,600,00 $ 9,600.00
Adjustment Metropolitan Sewer Board -1971
Maintenance of Sewaqe Treatment Plant 254.26 254,26
(Decreases):
Permanent Transfers Out - Exhibit 14 (5,759.5 (834.82) (4,924.70)
Other Increases (Decreases) S 4,299.28 $ (630.28) S 4,929.56
Increase (Decrease) in Fund Balance
During 1972 S 17,168.43 $ 232.92 S 16,935.51
Unappropriated Fund Balance, December 31, 197 -
To Exhibit 12 S 32,859.20 $ 3.082,91 $ 29.776.29
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 14
PUBLIC SERVICE ENTERPRISE FUNDS
COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
• FOR THE YEAR ENDED DECEMBER 31, 1972
PUBLIC ENTERPRISE FUND
TOTAL WATER SEWER
(NOTE II) OPERATING OPERATING
Cash, Clerk's Balance, January 1, 1972 $ 27,707.79 $ 15,113.74 S 12,594.05
Receipts:
Revenue:
Customer Collections for Service Provided S 34,759.16 S 18,284.73 $ 16,474.43 '
Penalties 690.41 345.25 345.1
Permits 672.00 320.00 352.00 '
Metropolitan Sewer Board 52.92 5
Sales Tax Collected 707.37 707.37
Total Revenue S 36,881.86 S 19,657.35 S 17,224.51
Other Receipts:
Meter Deposits 2,594.70 2,594.70 I
Transfers In:
Permanent 204.54 204.54
Total Receipts $ 39,681.10 S 22,456.59 $ 17,224.51
Total $ 67,388.89 $ 37,570.33 $ 29,818.56
Disbursements;
Expenditures:
Personal Services $ 1,115.88 $ 853.48 $ 262.40
Contractual Services 7,107.14 6,658.70 448.44
Materials and Supplies 1,092.90 812.65 280.25
Fixed Charges 36.25 31. 5.00
Capital Outlay 9,318.73 9,318.73
Maintenance Sewage Treatment Plant 4,173.75 4,173.75
Sales Tax Remitted 721.06 721.06
Total Expenditures $ 23,565.71 $ 18,395.87 S 5,169.84
Other Disbursements:
Meter Deposits Refunded 35.00 35.00
Transfers Out:
Permanent 5,759.52 834.82 4,924.70
Total Disbursements $ 29,360.23 S 19,265.69 S 10,094.54 ;
Cash, Clerk's Balance, December 31, 1972 -
To Exhibit 12 $ 38,028.66 $ 18,304.64 S 19,724.02
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 15
REVENUE SHARING TRUST AND AGENCY FUND
BALANCE SHEET
DECEMBER 31, 1972
•
ASSETS
Cash, Clerk's Balance - Exhibit 16 S 8,695.00
Total Assets S 8,695.00
RESERVES
Reserve for Future Expenditures $ 8,695.00
Total Reserves $ 8.695.00
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 16
REVENUE SHARING TRUST AND AGENCY FUND
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1972
•
Cash, Clerk's Balance, January 1, 1972 8 - 0 -
Receipts:
Shared Taxes:
Federal Government S 8 ,695 .00
Total Receipts 8, 695.00
Cash, Clerk's Balance, December 31, 1972
To Exhibit 15 $ 8,695.00
•
�i
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 17
STATEMENT OF GENERAL FIXED ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1972
BALANCE BALANCE
YEAR JANUARY 1, ADDITIONS DECEMBER 31,
• Building and Structures: ACQUIRED 1972 (ELIMINATIONS) 1972
Old Town Hall S 7,000,00 $ 7,000,00
Municipal Building and Garage 1970 62,315.44 62,315.44
Recreation Buildings (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 1971 3,892.64 3,892.64
Radio Unit 1971 2 ,0 2 9.50 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-
1972 Chevrolet Biscayne 1972 4,401,90 4,401.90
Recreation Department:
14 H.P. Cub Cadet Tractor with Accessories 1970 1,989.00 1,989,00
1 - 1/2'' x 150' Hose 1970 447.18 447,18`
Playground Equipment 1970 2,874.40 2,874.40w-
Basketball and Tennis Equipment 1970 394,20 394.20°~
Table Tennis Equipment 1970 98,44
98.44
Chain Link Fence 1970 3,100.00 692.76 3,792.76
Heavy Duty Lawn Mower 1971 242,96 242.96- -
Lighting, Playground 1972 162.15 162.15 r'
Snow Plow for Tractor 1972 110.00 110.00 F
• 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 Proof File 1972 313.60 313.60
Stand and File for Maps 1972 223,60 223.60'- -
Police Department:
Desk and Chair 1970 401.89 401 .89 --
Fire Proof File 1970 309.60 309.60-
Steel Master File 1971 13.45 13,45
Royal Typewriter 1971 75.00 75.00 -
Steel Master Cabinet (2) 1971 36.20 36,20 -
Recreation Department:
Stereo System 1970 182.50 182.50^•
Other Improvements:
Streets and Street Lighting 327,260.31 327,260.3.1
Storm Sewers 22 224,251,47
Totals $667,582.97 $ 4,709.01
General Fixed Assets - To Exhibit 1
- $672,291.98 �
r
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
FOOTNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1972
• NOTE I - This summary of accounting principles and policies of the Village of Oak
Park Heights is presented to assist the reader in evaluating the Village's
financial statements included in this report. The Village has consistently
followed these principles and policies in all material respects.
The Balance Sheets, Statements of Changes in Fund Balance and State-
ment of Changes in Amounts to be Provided for Debt Retirement of the
various funds are presented on the modified accrual basis, in that
revenues are generally reflected in the fund balance when received
and expenditures are generally reflected in the fund balance when
the liability is incurred (see major exceptions below). Revenue
from utility billings is reflected in the fund balances of the
Public Service Enterprise Funds when earned rather than when received.
Revenues from tax levies are reflected in the fund balance of the
Debt Service Funds when the deferred taxes are certified to the
county auditor rather than when the tax monies are received. Revenue
from assessments is reflected in the fund balance of the Debt Service
Funds when the assessment rolls are adopted rather than when the
monies are received. Liability for bond principal and interest
payable to maturity is reflected in the fund balance of the Debt
Service Funds at the time the bond issue is sold.
The Statements of Cash Receipts and Disbursements of the various funds of
The Village are presented on the cash basis, in that revenues are gener-
ally reflected in the cash balance when the money is received and expendi-
tures are generally reflected in the cash balance when the money is dis-
bursed.
NOTE II - The "Total" columns of the various "combined" financial statements are
presented for informational purposes only. The reader is cautioned that
the figures shown in these "Total" columns represent a combining of unlike
purpose groups (funds) and cannot be construed as indicative of the
over -all financial position or the over -all results of the cash trans-
actions of the Village. The financial position of each fund should be
ascertained by reference to the individual balance sheet of each fund.
The results of the cash transactions of each fund should be ascertained
by reference to the individual statement of cash receipts and disburse-
ments of each fund.
NOTE III - DUE FROM COUNTY AUDITOR: The October, 1972, tax settlement was not
distributed by the county auditor until January, 1973.
•
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES
AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1972
DEFERRED ALLOWANCE FOR
BOND SPREAD TAX UNCOLLECTIBLE
NUMBERS PRINCIPAL INTEREST TOTAL IN LEVIES TAXES
General Obligation Bonds of 1967 and 1968 Debt Service Fund:
General Obligation Improvement Bonds of 1967:
Dated September 1, 1967, 4.5% interest on maturities
1970 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 3/1/73 $ 18,967.50
9/1/73 16 -20 $ 25,000.00 18,967.50 $ 62,935.00 1972 5 35,000,00 $ 1,750.00
3/1/74 18,405.00
9/1/74 21 -25 25,000.00 18,405.00 61,81o.00 1973 34,600.00 1,730.00
3/1/75 17,842.50
9/1/75 26-31 30,000.00 17,842.50 65,685.00 1974 39,400.00 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 1,94o.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
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 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,ioo.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 35,000.00 10,387.50 55,775.00 1985 37,200.00 1,860.00
3/1/87 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
3/1/89 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
9/1/91 127 35,000.00 6,345.00 47,69o.00 1990 32,500.00 1,625.00
Totals forward to page 2 $590,000.00 $493,465.00 $1,083,465.00 $675,300.00 $ 33,765.00
7 lot
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES
AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1972
•
DEFERRED ALLOWANCE FOR
BOND SPREAD TAX UNCOLLECTIBLE
General Obligation Bonds of 1967 and 1968 Debt Service Fund, NUMBERS PRINCIPAL INTEREST TOTAL IN LEVIES TAXES '
continued:
General Obligation Improvement Bonds of 1967, continued: $590,000.00 $493,465.00 $1,083.465.00
3/1/92 $675,300.00 S 33,765.00
5,522.50
9/1/92 134 -140 35,000.00 5,522.50 46,o45.00 1991 31,600.00 1,580.00
3/l/93 4,700.00
9/1/93 141 -148 40,000,00 4,700.00 49,400,00 1992 35,700.00 1,785.00 j
3/1/94 3,760.00
9/1/94 149 -156 4o,000.00 3,760.00 47,520.00 1993 34,500.00 1,725.00
3/1/95 2,820.00
9/l/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 1,880.00 43,760.00 1995 32,000.00 1,600.00
3/1/97 940.00
9/1/97 173 -180 40,000.00 940.00 41,880.00 1996 30,80o.00 1,540.00
Total General Obligation Improvement Bonds of 1967 $825.000.00 $532.710.00 $1.357.710.00 $873.200.00 S 43.660.00
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 2.47, 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 3/1/73
$
9/1/73 3 $ 5,000.00 12,150
$ 29,300.00 1972 $ 21,800.00 S 1,090.00 '
3/1/74 12 , 03 0.00
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 10,000.00 11,910.00 33,820.00 1974 26,900.00 1,345.00
3/1/76 11,670.00
9/l/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 $ 80,000.00 $184,080.00 $ 264,080.00 $210,500.00 S 10,525.00
4.
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VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
STATEMENT OF BOND AND INTEREST MATURITIES, DEFERRED TAX LEVIES
AND ALLOWANCE FOR UNCOLLECTIBLE TAXES
DECEMBER 31, 1972
4 0
DEFERRED ALLOWANCE FOR
BOND SPREAD TAX UNCOLLECTIBLE
NUMBERS PRINCIPAL INTEREST TOTAL IN LEVIES TAXES
General Obligation Storm Sewer Improvement Bonds of 1971:
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 5/1/73 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/l/75 6 5,000.00 4,127.50 1974 10,000.00 500.00
11/1/75 4,027.50 13,155.00
5/l/76 7 5,000.00 4,027.50 1975 10,000.00 500.00
11/l/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 60o.00 i
11/1/79 3,255.00 16,74o.00
5/1/80 14 -15 10,000.00 3,255.00 1979 12,000.00 600.00
s ll /1/80
3,005.00 16,260.00
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 60o.0o
11/1/82 2,495.00 15,250.00 j
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 '
ll /l/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 13,660.00
5/l/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/l/87 28 -29 10,000.00 1,420.00 1986 11,000.00 550.00
11/1/87 1,140.00 12,560.00
5/1/88 30-31 10,000.00 1 1987 12,000.00 600.00
ll /l/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 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 $ 173.000.00 5 94.757.50 $ 267.757.50 $ 204.000.00 $ 10.200.00
• Totals
Total Bonds Payable, to Exhibit 6 $2.503.527.50 $ 90.665.00
$1,488,000.00
Total Future Interest Payable, to Exhibit 6 $1.015.527.50
Total Deferred Tax Levies, to Exhibit 6
$1.813.300.00
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
SECURITY FOR DEPOSITS
DECEMBER 31, 1972
•
Assigned by Cosmopolitan State Bank of Stillwater, Minnesota:
3.87- Robbinsdale School District 281 Issues,
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
i Total 8250,000.00
The above securities are on deposit with the Northwestern National Bank of Minneapolis.
In addition to the securities listed above, the bank provides the $20,000 F,D.I.C.
insurance.
32
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
INSURANCE IN FORCE
DECEMBER 31, 1972
•
COVERAGE LIMITS
Comprehensive General Liability:
Bodily Injury $50/300,000
Property Damage 50/100,000
Comprehensive Automobile Liability:
Bodily Injury 50/300,000
Property Damage 50,000
Personal Injury Liability 50/300,000
Uninsured Motorists 10/ 20,000
Comprehensive Collision - S50.00 deductible ACV
Fire and Extended Damange: (90` Coinsurance)
Municipal Building 50,000
Municipal Building - Contents 5,000
• Water Tower
72 , 600
Recreation Building - Swager Park 11,400
Recreation Building - Lower Oak Park 11,400
Extra Expense - Water Tower - $50,00 deductible 25,000
Vandalism and Malicious Mischief - $250.00 deductible 2,500
Fire and Extended Coverage:
Old Town Hall:
Building 6,000
Contents 1,000
Workmen's Compensation Statutory
Treasurer's Bond 10,000
Bond - Other Employees 1,000
33
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
ORGANIZATION
1972
•
TERM
EXPIRES
Mayor:
Raymond N. Johnson 12/31/72
Councilmen:
George 0. Monty 12/31/72
Donald Mondor 12/31/72
Frank Sommerfeldt 12/31/73
John P. Groth 12/31/74
Clerk- Treasurer:
• Ken Heuer Appointed
Attorney:
i
Eckberg, Lammers and Briggs Appointed
Engineer:
Bonestroo, Rosene, Anderlik and Associates, Inc. Appointed
34
VILLAGE OF OAK PARK HEIGHTS, MINNESOTA
TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES
1973 1972 1971
Taxable Valuations:
Real Estate S30,893,658.00 $10,163,739.00 S 9,940,198.00
Personal Property 591,082.00 230,935.00 198,607.00
Total $31.484,740.00 $10.394,674.00 510,138,805.00
Tax Levies, Extended by County
Auditor:
Extended 1972 1971 1970
Collectible 1973 197 197
Revenue S115,549.00 $131,076.84 S119,739.28
Bonds and Interest 66,747.65 67,253.54 56,878.70
Totals 5182,296.65 $198,330.38 5176,617,98 '
Mill Rates:
Revenue 3.67 12.61 11.81
Bonds and Interest 2.12 6.47 5.61
Totals 5.79 j3. 08
I
The twenty -one million dollar valuation increase is due in large measure to the
re- evaluation of all real and personal property in Washington County during 1972.
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