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Home My WebLink AboutAuditor's Report December 31, 1970 VILLAGE OF OAK PARK HEIGHTS AUDITOR'S REPORT YEAR ENDED DECEMBER 31, 1970 • VILLAGE OF OAK PARK HEIGH'T'S, MINNESOTA TABLE OF CONTENTS Page No. GENERAL FUND: 13 Balance Sheet Exhibit 1 ents Exhibit 2 14 Statement of Cash Receipts and Disbursem Comparison Budget to Actual Expenditures Schedule 2.1 17 DEBT SERVICE FUND: Exhibit 3 18 Balance Sheet Statement of Bond and Interest Maturities, Deferred Tax Levies and Allowance for Uncollectible Taxes Schedule 3.1 19 Statement of Cash Receipts and Disbursements Exhibit 4 22 IMPROVEMENT FUND: Exhibit 5 23 Balance Sheet Summary of Construction Costs by Projects Schedule 5.1 25 Statement of Cash Receipts and Disbursements Exhibit 6 Summary of Construction Disbursements by Schedule 6.1 26 Project UTILITIES FUND: 27 Combined Balance Sheet Exhibit 7 Statement of Fixed Assets and Allowance for Depreciation Schedule 7.1 28 Combined Statement of Cash Receipts and 29 Disbursements Exhibit 8 STATEMENT OF GENERAL FIXED ASSETS Exhibit 9 30 COMBINED BALANCE SHEET, ALL FUNDS (CONDENSED FORM) Exhibit 10 31 Summary of Investment Transactions Schedule 10.1 32 Schedule of Interfund Transfers Schedule 10.2 33 SUMMARY STATEMENT OF RECEIPTS AND DISBURSE- 34 MENTS Exhibit 11 STATEMENT OF BONDS PAYABLE Exhibit 12 35 STATEMENT OF DEBT SERVICE CHARGES UNTIL Exhibit 13 36 MATURITY SECURITY FOR DEPOSIT Exhibit 14 37 OFFICIAL BONDS Exhibit 15 38 INSURANCE IN FORCE Exhibit 16 39 ORGANIZATION Exhibit 17 40 TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES Exhibit 18 41 JOHNSON DE LA HUNT & CO. 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, 1970. The examination, a limited general audit, was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum- stances. In our opinion, the accompanying balance sheets and related statements of revenues, expenditures, and surplus present fairly the financial position of the various funds of the VILLAGE OF OAK PARK HEIGHTS, MINNESOTA, on December 31, 1970, and the results of their operations for the year ended in conformity with generally accepted governmental accounting principles. 3 4"�j & & 1 1 6 k4 Y & JOHNSON DE LA HUNT & CO. Certified Public Accountants Date field work completed April 2, 1971 Date report signed April 23, 1971 • Village of Oak Park Heights Report COMMENTS The scope of the audit report pertains primarily to the year ended December 31, 170. However, to ascertain accurate January 1, 1970 cash balances for the Improvement Fund, Debt Service Fund, Water Operating Fund and Sewer Operating Fund required an analysis of the utility bank account to its beginning in 1)67. The village maintains two checking accounts, a general account (General Fund) and a utility account (Debt Service Fund, Improvement Fund, Utility Fund). The village General Fund transactions are re- corded in a cash receipts and disbursements journal. No attempt is made to separate the receipts and /or disbursements as reflected by the utility bank account into proper fund classifications. As the utility bank account includes Debt Service Fund and Improvement Fund i cash transactions it is pertinent the village institute an accounting system to ensure the proper recording of utility bank account receipts and disbursements by funds, whereby the actual cash balance in the Debt Service, Improvement, Water Operating, and Sewer Operating Funds is known at all times. Tax and assessment collections from the county auditor are de- posited intact to the general account bank depository. During 1970 three general account transfers to utility account for debt service were made as follows: January, 1970 $ 16,764.j4 February, 1970 35,633.87 August, 1970 58,156.L)'7 Total General Account Transfer to Utility Account $ 110 • Village of Oak Park Heights Report, coat. . It was determined the transfers represented: Transfer 1969 Assessments from county deposited into General Account $ 16,784.94 Transfer 1970 Assessments from county deposited into General Account 14,929.95 Transfer 1970 Debt Service Property tax deposited into General Fund 28,337.28 Permanent General Fund transfer to Debt Service Fund 50,525.41 Total $110,577.68 It is recommended receipts from the county auditor for debt service be immediately receipted into the utility account and recorded as Debt Service Fund receipt. The permanent transfer was made without council resolution as required. It is recommended interfund transfers be specifically authorized by council resolution. • Investment transactions were often accomplished through bank memorandum without the transactions being recorded in the village records. It is recommended all investment purchases be made through the issuance of village vouchers and all investment sales be receipted and recorded. A summary statement of investment transactions is provided in Schedule 10.1. Exhibit 14 Security For Deposits indicates the Cosmopolitan State Bank of Stillwater had not provided collateral other than the $15,000.00 F.I.D.C. guaranty against financial loss as of December 31, 1970. State statute requires the collateral be at least 10% more than the maximum deposit authorized by the council. As the cash and investment deposit with the Cosmopolitan State Bank at December 31, 1970 was Village of Oak Park Heights Report, cont. • $193,175.46, the collateral is inadequate. The bank and village treasurer have been notified of the deficiency; the bank indicated additional collateral will be pledged by the end of March, 1971. Council approval of the Collateral provided is required by state statute. A summary statement of receipts and disbursements of all funds is presented in Exhibit 11. The cash, treasurers' balance of $93,159.13 was confirmed by the village depositories as of December 31, 1970. A combined balance sheet of all funds (condensed form) as of December 31, 1970 is presented in Exhibit 10 and discloses the financial condition of the village at that date. Individual fund balance sheets and financial statements contained in this report are enumerated in the preceding table of contents. A discussion of individual fund balance sheets follows. • GENERAL FUND The General Fund Balance Sheet is Exhibit 1. CASH, TREASURERS' BALANCE $ _6 INVESTMENTS $ 5_,000 The cash in depository and investments were confirmed by the de- pository as of December 31, 1970. Security for deposits in the amount of $100,000.00 assigned as collateral for cash in depository by the First National Bank of Stillwater is shown in Exhibit 14. This is in addition to the $15,000.00 F.I.D.C. guaranty. DUE FROM COUNTY AUDITOR $ 58,005.73 The due from county auditor represents 1970 general revenue tax collection by county and due to the village at December 31, 1970. Village of Oak Park Heights Report General Fund, cont. • DELINQUENT TAXES RECEIVABLE $ 3,016.73 RESERVE FOR UNCOLLECTIBLE TAXES ($ 3,016.73) The delinquent taxes were taken from the county auditor's records. DUE FROM OTHER FUNDS $ 6,671.47 Due from: Water Operating Fund $ 481.25 Sewer Operating Fund 235.70 Improvement Fund 6,154.52 Total $ 6,871.47 The Schedule of Interfund Transfers, Schedule 10.2, gives a de- tailed explanation of the Due From Other Funds. Council resolution is required to effect the transfers. ACCOUNTS PAYABLE $ 6,061.84 • The accounts payable comprised of current charges. Confirmation was not required from the creditors but we examined creditors' state- ments as of December 31, 1970 and scanned the January through March, 171 cash disbursement vouchers for entries relating to 1970 purchases. All liabilities disclosed by our examination are included in the accounts payable. ACCOUNTS PAYABLE DUE TO OTHER GOVERNMENTAL AGENCIES � 1,749. The account represents payroll withholdings unremitted and village portion of PERA and FICA payable at December 31, 1970 as follows: Federal tax withheld $ 860.56 State tax withheld 275.90 PERA withheld 113.69 PERA village portion 211.07 FICA withheld 144.80 FICA village portion 143.48 Total _ 1_ r Village of Oak Park Heights R.e , Dort General Fund, cont. • ACCOUNT PAYABLE DUE TO EMPLOYEES HOSPITALIZATION PREMIUMS $ 17.04 DUE TO OTHER FUNDS $ 2,599.54 Due to: Improvement Fund $ 2,395.00 Water Operating Fund 204.54 Total $ 2,599.54 The Schedule of Interfund Transfers, Schedule 10.2 gives a de- tailed explanation of the Due to Other Funds. Council resolution is required to affect the transfers. FUND BALANCE � 126 L 2 32.95 I Schedule 2.1 Comparison Budget to Actual Expenditures shows the • budget was underspent by $48,067.15 during 1970, a factor in the large fund balance. The fund balance indicated the General Fund has monies available for capital improvements. Additional comments can be found under the Improvement Funds, Exhibit 5. DEBT SERVICE FUND G.O. BONDS OF 1967 AND 1968 The balance sheet of the debt service fund is presented in Exhibit 3 and reflects the financial position of the village debt service obligation. To finance capital improvements the village sold two bond issues, a September 1, 1967 issue (GO Bonds of 1967) for $900,000.00; a March 1, 1968 issue (GO Bonds of 1968) for $500,000.00, a grand total of • Village of Oak Park Heights Report Debt Service Fund, cont. . $1,400,000.00. Assepsments for all improvements have been certified with the exception of 1969 Water and Sewer Extensions and 1968 Street Improvement. The amount to be provided for debt retirement is $240,876.08. A major portion of this provision will come from future interest on deferred special assessments. A summary of the remaining bond and interest requirements over future provisions at December 31, 1970 are as follows: Remaining requirements: Bond principal $1,375,000.00 Future interest on bonds 1,049,335.00 Total $2,424,335.00 Remaining provisions: Cash on hand $ 34,203.20 Investments 166,800.00 Tax levies, net 1,637,990.00 Special assessments 307,512.64 Future interest on special assessments, estimated 231,651.62 2,378,157.46 Amount to be provided $ 46,177.54 The estimated future interest on special assessments is a maxi- mum figure based on a calculation whereby there would be no pre- payments on deferred special assessments. Changes in the cash position, addition of assessments for 1969 Water and Sewer Extensions and 1968 Street Improvement and interest receivable should be reviewed at the end of 1971 to determine if the fund can moot its future bond and interest maturities. • Village of Oak Park Heights Renort Imorovement Fund • IMPROVEMENT FUND Considerable difficulty was encountered in classifying expendi- tures to the proper improvement project as the village has not adopted a procedure whereby a project number is assigned to each improvement undertaken by the village. It is recommended a numerical system be utilized by the village. The $1,400,000.00 bonds sold in September, 1967 and March, 1968 were to finance the following improvements: Sewage Disposal Plant Deep Well, Pump No. l and Elevated Water Storage Tank 1967 Water Mains and Sanitary Sewer Lines Municipal Building Subsequent improvements authorized were: 1968 Water Mains and Sanitary Sewer 1969 Water Mains and Sanitary Sewer • Outfall Sewer 1968 Storm Sewer 1968 Street Improvement 1970 Street Improvement All projects with the exception of the 1970 Street Improvement have been completed by December 31, 1970. The village attorney, Lawson, Kelly, Ranum and Raleigh confirmed by letter the following pending litigation at December 31, 1970: 1) A damage suit for taking some property for road by John Ogren against the Village of Oak Park Heights in the amount of $20,000.00 (1970 Street Improvement). 2) A damage suit for alterations to filling station by Mobil Oil Company against the Village of Oak Park Heights in the amount of $20,000.00 (1970 Street Improvement). • '7illage of Oak Park Heights Report Improvement Fund, Cont. 3) A damage suit for .laying sewer lines upon property without authorization by Richardson Albertson against the Village of Oak Park Heights in the amount of $4,500.00 (1967 Sani- tary Sewer) . The village treasurer indicated all litigation was concluded in January and February, 1971. The Improvement Fund Balance Sheet, Exhibit 5 shows a fund balance deficit of $12,593.53 at December 31, 1970. The 1970 Street Project Construction in progress will increase the fund balance deficit. Additional financing of the Improvement Fund will be required during 1971. As noted under General Fund Exhibit 1 Comments, the fund balance of the General Fund is substantial and it is recommended the council authorize permanent transfer to the Improvement Fund for the 1970 Street Project. • It is recommended the council define the method of financing each project at the time the improvement is authorized. UTILITY FUND The combined balance sheet of the utility department funds is presented in Exhibit 7 and reflects the financial position of the two operating funds. CASH, CLERK'S BALANCE $ 10.745.14 PETTY CASH $ 5000 The cash on hand was counted and that on deposit was confirmed by the depository as of December 31, 1_970. • Village of Oak Park Heights S g Report Utility Fund, cont. • ACCOUNTS RECEIVABLE $ 8,301.25 Negative forms confirmation requests, which require replies only where there are differences between the statement and the customer's records were mailed with 100/ of the customers' utility billings as of December 31, 1970. No significate differences were found. We recommend the clerk of Oak Park Heights review all accounts receivable 90 days or older to determine collectibility and certify any uncollectible accounts each year to the county auditor for collection. DUE FROM OTHER FUNDS $ 204.54 Due from: General Fund $ 204.54 • The Schedule of Interfund Transfers, Schedule 10.2, gives a detailed explanation of the Due From Other Funds. Council resolu- tion is required to effect the transfers. FIXED ASSETS (less depreciation) 9, 24 Fixed assets details are disclosed in Schedule 7.1. All assets are recorded on a cost basis. ACCOUNTS PAYABLE $ 863.87 The above accounts are comprised of current charges. Confirmations were not required from creditors but their statements were examined in conjunction with our review of the claims paid in January through March 1971. All liabilities disclosed by our examination are included in the accounts payable. • I ti Village of Oak Park Heights Report Utility Fund, cont. ACCOUNTS PAYABLE DUE TO SALES USE TAX $ 132.95 The account represents Minnesota sales tax charged on water billings and unpaid as of December 31, 1970. DUE TO OTHER FUNDS $ 716.95 Due to: General Fund $ 716.95 The Schedule of Interfund Transfers, Schedule 10.2, gives a de- tailed explanation of the Due to Other Funds. Council resolution is required to effect the transfers. ^•TITTER DEPOSITS 15 182 A review of the meter deposits advanced by utility customers substantiated the balance in the above account as of December 31, 1970. • FU-ND BALANCE, UNAPPROPRIATED �_ 2, 404.46 Water Operating Fund $ (4,478.40) Sewer Operating Fund 6,882.85 Total 2 The water operating fund had a fund deficit of $4,478.40 at year end. GENERAL FIXED ASSETS A statement of the genera]_ fixed assets is contained in Exhibit 9. As this is a sole record of the detailed assets, a copy should be kept in the permanent files of the Village. • Village of Oak Park Heights P enort Ceneral Comments • GENERAL COMMENTS We recommend the village record all cash receipts and disburse- ments to the funds as set up in this report. Should the village de- sire, we will be pleased to assist in setting up a system to meet its requirements. Respectfully submitted, JOHNSON DE LA HUNT & CO. Certified Public Accountants • • :12 L VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 1 GENERAL FUND BALANCE SHEET DECEMBER 31, 1970 • ASSETS Cash, treasurer's balance, Exhibit 2 $ 66,783.67 Investments, Schedule 10.1 5,000.00 Due from County Auditor 56,005.73 Ta_:es Receivable: Delinquent $ 3,016.73 Less, allowance for uncollectible taxes 3,016.73 Due from Other Funds, Schedule 10.2 6,871.47 Total Assets $136,660.87 LIABILITIES AND FUND BALANCE • Liabilities: Accounts Payable $ 6,061.84 Accounts Payable Due to Other Governmental Agencies 1,749.50 Accounts Payable Due to Employees Hospi- talization Premiums 17.04 Due to Other Funds, Schedule 10.2 2,599.54 Total Liabilities $ 10,427.92 Fund Balance 126,232.95 Total Liabilities and Fund Balance X135 • D_ 3 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2 GENERAL FUND PAGE 1 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 • Cash, treasurer's balance, January 1, 1970 $ 76,951.32 ReceiQts: Revenue: General property taxes $ 60,543.38 Licenses: Cigarette 84.00 Dog 289.00 Liquor and non - intoxicating malt 1,339.72 Registration: Contractor 510.00 Permits: Plumbing 957.50 Building 2,384.00 Sign 72.00 Heating 8.75 Moving 25.00 Fines and forfeits: Court fines 134.30 Revenue from Use of Money and Property: Interest earned 4,728.76 Revenue from Other Agencies: Shared Taxes Cigarette 1,782.30 • Liquor 1,517.24 State tax relief 7,258.44 Mobile home 17.95 Charges for Current Services: General Government 4.00 Public Safety: Fire calls 100.00 Sale and Compensation for Loss of Properties: Insurance recoveries and reimbursements 60.00 Other: Refunds and reimbursements 65.22 Donation - park 5,000.00 Sale of investments, to Schedule 10.1 240,521.24 Pop machine profits 91.1.2 Total receipts $327,493.92 Total, to page 2 $404,445.24 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2 GENERAL FUND PAGE 2 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 • Total cash, forward from page 1 $404,445.24 Disbursements: General Government: Mayor and Council: Current expense $ 7,130.61 Elections: Current expense 518.25 Village Clerk: Current expense 4,860.27 Capital outlay 154.50 Planning and zoning: Current expense 124.30 Village Hall: Current expense 5,522.10 Assessor: Current expense 500.00 Total General Government $ 18,810.03 Public Safety: Police Department: Current expense $ 7,591.77 Capital outlay 3,935.99 • Fire Department: Current expense 4,200.00 Protective Inspections: Current expense 4,851.75 Total Public Safety 20,579.51. Highways: Streets and Alleys: Current expense 4,794.96 Total Highways 4,794.96 Sanitation and Waste Removal: Landfill: Current expense 126.00 Total Sanitation and Landfill 126.00 Recreation: Parks, Playgrounds, Skating Rinks: Current expense 8,993.45 Capital outlay 34,281.61 Total Recreation 43,275.06 Special Services: Utility: • Current expense 10,066.78 Total Special Services 10,066.78 Totals, - to page 3 $ 97,652.34 $404,445.24 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 2 GENERAL FUND PAGE 3 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 Total cash, forward from page 2 $404,445.24 Disbursements, total, forward from paSe 2 $ 97,652.34 Othcr: Investments purchased, to Schedule 10.1 $167,230.30 Contributions and transfers to other funds: Debt Service 67,310.45 Due from Other Funds: (Schedule 10.2) Improvement Fund 6,130.52 Utility Fund 736.95 Total Other 241,421.22 Total Disbursements 339,013.56 Total 65,371.6L Add: Payroll deductions to be re- mitted during 1971 1,411.99 Cash, treasurer's balance, Decem- ber 31, 1971, to Exhibit 1 �____�6�783.67 • VILLAGE OF OAK PARK HEIGHTS, MINNESOTA SCHEDULE 2.1 GENERAL FUND COMPARISON BUDGET TO ACTUAL EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1970 UNDER ACTUAL (OVER) BUDGET EXPENDITURES BUDGET General Government: Mayor and Council $ 10,700.00 $ 7,130.61 $ 3,569.39 Elections 600.00 518.25 81.75 Village Clerk 5,250.00 5,014.77 235.23 Planning and Zoning -0- 124.30 (124.30) Village Hall 8,600.00 5,522.10 3,077.90 Assessor 500.00 500.00 -0- Total General Government $ 25,650.00 $ 18,810.03 $ 6,839.97 Public Safety: Police Department $ 7,700.00 $ 11,527.76 $ (3,827.76) Fire Department 5,000.00 4,200.00 800.00 Protective inspections 30.00 4,851.75 (4,821.75) Total Public Safety $ 12,730.00 $ 20,579.51 $ (7,849.51) Highways: Streets and Alleys $ 24,100.00 $ 4,794.96 $ 19,305.04 Sanitation and Waste Removal: • Landfill 400.00 126.00 274.00 Recreation: Parks, Playgrounds, Skating Rinks 30,000.00 43,275.06 (13,275.06) Special Services: Utility 9,675.00 10,066.78 (391.70) Transfers Out: Debt Service 93,690.00 50,525.51 43,164.49 Total Highway $157,865.00 $103,788.31 $ 49,076.69 Total Comparison Budget to Actual Expenditures 1196JQ__QQ QAY,_177 1�490001_15 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 3 GENERAL OBLIGATION BONDS OF 1967 AND 1968 DEBT SERVICE FUND BALANCE SBEET DECEMBER 31, 1970 • ASSETS Cash: Treasurer's balance, Exhibit 4 $ 34,203.20 On deposit with fiscal agent 720.76 $ 34,923.96 Investments, Schedule 10.1 166,800.00 Due from County Auditor 37,134.56 Ta.R.es Receivable: Delinquent $ 1,040.32 Deferred, Schedule 3.1 1,724,200.00 Total $1,725,240.32 Less, allowance for uncollectible taxes 87,250.32 Net taxes receivable $1,637,990.00 Special Assessments Receivable: Current $ 27,795.08 Delinquent 5,143.38 Deferred 274,574.18 Total special assessments receivable 307,512.64 Amount to be provided for debt retirement 240,876.08 . Total Assets 2 _425, 237.24 LIABILITIES AND RESERVES Liabilities: Bonds payable, Schedule 3.1 $1,375,000.00 Accounts payable 181.48 Matured interest payable 720.76 Total Liabilities $1,375,902.24 Reserves: Future interest on bonds, Schedule 3.1 $1,049,335.00 Total Liabilities and Reserves V ?_,4 2 . 5 237.24 • 02 3C)_ AND DEC2i 31, 1910 71 0:z 31LE A L Ii E R S 1 Z X� C I L C 13 Special Assessment, 30nas: General Obligation A.j i3o.nds of 1��67: Dated September 1, 1967, 4.5/"3 interest on maturities 1970-kI33, 4.6% 1964-89, 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 callible 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 3-1-71 $ 20,092.50 9-1-71 6-10 $ 25,000.00 20,092.50 $ 65,185.00 1970 35,900.00 $ 1,795.00 3-1-72 19,530.00 9-1-72 11-15 25,000.00 19,530.00 64,060.00 1971 35,500.00 /97 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 -e9 ?3 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 9-1-75 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 38,0 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 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 1,793.00 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 3-1-87 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 7 7;' Vif'LA(."E oF OAK PL�Pxi\' ill `11("11 MINNESOTA I j� j S j *, OF �30_ - , `iND L' _�Ui1_j'2ii-'S, DEPEi�RED Pt'�X LEVIES 2 AND ;\LL0WA_ FOR UNCOLL TAXES i)ECELDE,Z 31, 1)70 1 BOND SP i\EA D L L E C'1' _.,T , 7 NUT PRiNCIPAL I LN T RR I " ST TOTAL 1N T-V S Bonds, conLinuod: ,ione-al Obligation Improvement Bonds of 1967, continued: 3-1-90 7,167.50 9-1-90 120-126 $ 35,000.00 7,167.50 $ 49,335.00 1989 33,400.00 l, "70.00 3-1-91 6,345.00 9-1-91 127-133 35,000.00 6,345.00 47,690.00 1990 32,500.00 1,625.00 3-1-92 5,522.50 9-1-92 134-140 35,000.00 5,522.50 46,045.00 1991 31,600.00 1,580.00 3-1-93 4,700.00 9-1-93 141-148 40,000.00 4,700.00 49,400.00 1992 35,700.00 1,705.00 3-1-94 3,760.00 - 0.00 47,520.00 1993 3-A,500.00 1,725.00 9-1-94 149-156 40,000.00 3,70 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 1,880.00 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 30,800.00 1, 540.00 Total General Obligation Improvement Bonds of 1967 $875,000.00 $611,955.00 $1,486,955.00 $944,600.00 47,230.00 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 there- after callible at option of village on September 1, 1978 at par and accrued interest plus $100 premium, bonds maturing 1989 and thereafter callible on September 1, 1988 interest at par and accrued interest plus $50 premium, bonds maturing 1994 and thereafter callible on September 1, 1993 at par and accrued interest. 3-1-71 $ 12,390.00 9-1-71 1 5,000.00 12,390.00 $ 29,780.00 1970 21,800.00/1 1,090-00 3-1-72 12,270.00 9-1-72 2 5,000.00 12,270.00 29,540.00 1971 21,700.00.1 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 - i91; 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 -/-/74 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 3-1-76 11,670.00 9-1-76 7-8 10,000.00 11,670.00 33,340.00 1975 2r,,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 2(,,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. )1,900.0 -79 13-14 10,000.00 10,950.00 0 1978 25,600.00 1,280.00 VILLAGE 02 OAII� Pry ;ii uF 3u,.\�D ANID 1A-UiZ)iTi2S, D,-YE�'IiIED T.AH LEViE'S ,U ALLC)�'VA--vCE 201TZ 'Lj TAXES - )'1, 1970 1 D 30 ND 3P1< NUi%13EP\.S PRINCIPAL INTEREST T C)T. 1, S Assessment Bonds, conLtinucd- Coneral obligation Water and Sanitary Sewer Improvement Bonds of 1963, continued: 3-1-00 $ 10,710.00 9-1-80 15-18 $ 20,000.00 10,710.00 $ 41,420.00 1979 $ 35,900.00 1, 795.00 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 3-1-83 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 35-38 20,000.00 8,250.00 36,500.00 1984 31,600.00 1,520.00 3-1-86 7,750.00 9-1-86 39-42 20,000.00 7,750.00 35,500.00 1985 30,800.00 1,540.00 3-1-87 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 1939 32,300.00 1,615.00 3-1-91 5,000.00 9-1-91 61-65 25,000.00 5,000.00 35,000.00 1990 31,200.00 1,560.00 3-1-92 4,375.00 11 -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 27,600.00 1,390.00 3-1-95 2,500.00 9-1-95 81-85 25,000.00 2,500.00 30,000.00 199 26,700.00 1,335.00 3-1-96 1,875.00 9-1-9 86-90 25,000.00 1,875.00 28,750.00 1995 25,700.00 1,285.00 3-1-97 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 96-100 25,000.00 520.00 25,520.00 Total General Obligation Water and Sanitary Sewer Improvement Bonds of 1960 $500,000.00 $437,380.00 $937,380.00 $779,600.00 $ 38,960.00 Total Bonds Payable, Future Interest Payable and Deferred Taxes, to Exhibit 3 $1,315 000.00 $1.049,335.00 $2,424,335.00 $1,724,200.00 $ 86,210.00 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 4 GENERAL OBLIGATION BONDS OF 1967 P.ND 1968 DEBT SERVICE FUND STATEMENT OF CASH RECEIPTS 7 ?1'\TD DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 Cash, treasurer's balance, January 1, 1970 $127,826.56 Rece irats: revenue: General property taxes: Current and delinquent $ 28,337.28 Special assessments: Collected by village: Prepayments 7,273.03 Collected by county: Current and delinquent 14,929.95 Sewer and water hookup charges 40,237.50 Interest earned on investments 8,750.00 7 nt-erest earned on prepaid assessments 181.48* Transfers in: General Fund 67,310.45** Total receipts 167,019.69 Total $294,846.25 E 7 - -n,enditures: Payment on debt retirement: Principal $ 25,000.00 TI - 1 - cerest 68,590.00 Fiscal agent charges 202.74 refund on current assessment 50.31 Investments purchased, to Schedule 10.1 166,800.00 Total expenditures 260,643.05 Cash, treasurer's balance, December 31, 1970 X34,203.20 To be refunded 516,724.94 1969 current assessments receipted into General Fund 7 0,525.51 Permanent transfer in 7, 3 0 .4 5 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 5 IMPROVEMENT FUND BALANCE SHEET DECEMBER 31, 1970 • ASSETS Cash, treasurer's balance, Exhibit 6 $(18,572.88) Construction work in progress, Schedule 5.1 28,664.78 Due from other funds, Schedule 10.2 2,395.00 Total Assets 1. LIABILITIES AND FUND BALANCE Viabilities: Accounts Pavable $ 7,087.00 Contracts Pa -vable 11,843.91 Due to Other Funds, Schedule 10.2 6,154.52 Total Liabilities $ 25,085.43 ^ =d i alance 598.53) Total Liabilities and fund Balance S_ ?_1,,48.6.9 0 VILL,AGE OF OAX PARX HEIGI MINNESOTA SUI OF CONSTRUCTION COSTS BY PROJECTS DECE 31, 1970 LA N D VILLAGE ACQUISITION CONTRACTOR LEGAL ENGINEERING INSPECTOR EASEMENTS OTHER IMPROVEMENT FUND: SEWAGE DISPOSAL PLANT: Situated between Highway 95 and the Chicago, Milwaukee, St. Paul and Pacific Railroad right- of-ways adjacent and south of Mill Road $162,953.31 $ 1,058.60 $ 9,961.20 $ 11,445.20 $ 1,890.93 DEEP WELL, PUMP NO. 1 AND ELEVATED WATER STORAGE TANK: Situated in the NW 1/4 of Section 504.00** 1 4 at municipal building site 95,007.50 1,578.00 6,238.60 MUNICIPAL BUILDING: Municipal building, pumphouse 259.25 3,968.54 688.85 and garage on Fahl'strom Road 57,398.80 WATER MAIN AND SANITARY SEWER: 1967 Project 731,681.25 4,598.40 54,588.38 $ 2,433.00 6,582.50** 9,441.38 1968 Project 103,804.31 60.00 10,035.62 1,027.60 1969 Project 39,032.50 397.50 4,317.98 46.00 319.40 OUTFALL SEWER 73,253.00 211.92 4,796.78 696.50 1968 STORM SEWER 21,017.60 807.75 413.05*** 24.00 STREET 1968 Project 203,879.21 421.16 13,882.48 873.00 402.00 1970 Project 11,730.51 2,253.50 3,907.77 67.00 10,706.00 GENERAL FUND: Recreation Buildings 1 and 2 22,375.00 2,097.19 723.70 Total Construction Costs $1.522,132.99 S 10.838.33 $114,602.29 S 3,419.00 29,650.75 16,408.40 Less Construction Completed Construction Work in Progress, to Exhibit 5 SUMMARY OF COMPLETED PROJECTS: Construction costs capitalized as General Fixed Assets, Exhibit 9 Construction costs capitalized as Utilities Departments Assets, Schedule 7.1: Watermains Sanitary Sewer Total Completed Projects Temporary road and road repair Culverts SCHEDULL 5.1 _ EXPENDED DUE TO PRIOR CUPRE114T ACCOUNTS CONTRACTS OTHER TOTAL PERIOD PERIOD PAYABLE PAYABLE FUNDS $187,309.24* $187,309.24 104,522.14* 104,522.14 62,315.44* 62,315.44 809,324.91* 809,284.91 $ 40.00 114,927.53* 111,675:01 3,252.52 44,113.38* 21,109.85 22,993.53 $ 10.00 78,958.20* 78,958.20 22,262.40* 22,243.65 18.75 219,457.85* 174,304.44 45,030.01 $ 113.40 10.00 28,664.78 1,347.00 2,365.75 $ 7,087.00 11,730.51 6,134.52 25,195.89* 25,195.89 $1,697,051.76 $1,573,069.88 $ 98,896.45 $ 7,087.00 $ 11,843.91 $ 6,154.52 1,668,386.98* $ 28,664.78 $ 355,747.28 427,839.81 884,799.89 $1,668,386.98 2 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 6 IMPROVEMENT FUNDS STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 • Cash, treasurer's balance, January 1, 1970 $(95,252.99) Receipts: Revenue: Interest earned on investments $ 791.67 Reimbursements: Washington. County for Storm Sewer Improvement 1,624.24 Stillwater Township for Sewer Improvement 164.76 Other receipts: Investments sold, to Schedule 10.1 150,500.00 Total receipts 153,3 0.67 • Total $ 55,127.66 Disbursements: Construction Costs, Schedule 6.1 73,700.56 Cash, treasurer's balance, December 31, 1970, � l to Exhibit 5 �s 572.68A • 20 5 VILLA6L 02 OAK P.--i K iIF- FG11.i'S, : A S'.'.:' :J L E SUi.D %RY 02 CU'vS'2i, UCTIU'N DIS3 -1EZ TS :3Y P. :ZOJLC'1' 200 'i'Ii3 YLAl2 ENDED DLCS .�Dil -'R 31, i) "1J CONTIACTOR ENGINEERING LEGAL PAYMENTS FEES FEES SURVEYING ADVERTISING TOTAL Project: 1967 Water and Sewer Improvement $ 40.00 $ 40.00 196& Water and Sewer Improvement $ 2,957.52 15.00 $ 280.00 3,252.52 1969 Water and Sewer Improvement $ 21,182.80 1,810.73 22,993.53 1966 Street Improvement 44,675.01 355.00 45,030.01 1970 Street Improvement 2,000.00 228.75 70.00 $ 67.00 2,365.75 1968 Storm Sewer Improvement 18.75 18.75 Totals $ 67,857.81 $ 5,370.75 1 $ 280.00 $ 67.00 Construction Project Disbursements, to Exhibit 6 $ 73,700.56 i • VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 7 UTILITIES FUND COMBINED BALANCE SHEET DECEM}3EP. 31, 1970 WATER SEWER TOTAL OPERATING OPERATING ASSETS Cash $ 10,745.14 $ 6,965.52 $ 3,779.62 Petty Cash 50.00 50.00 Accounts Receivable 8,301.25 4,656.85 3,644.40 Due from Other Funds, Schedule 10.2 204.54 204.54 , i..ed Assets, Schedule 7.1 $1,607,087.05 $533,641.92 $1,073,445.13 Less: Reserve for Depreciation, Schedule 7.1 37,843.37 12,680.24 25,163.13 Total Fixed Assets $1,569,243.68 $520,961.68 $1,048,282.00 Total Assets � 1� 588�54 4.61 $532,838.59 $1,055,706.02 LIABILITIES, RESERVES AND FUND BALANCE Liabilities: Accounts Payable $ 863.87 $ 558.41 $ 305.46 Accounts Pavable Due to Sales Use Tax 132.85 132.85 • Due to Other Funds, Schedule 10.2 716.95 481.25 235.70 Total Liabilities $ 1,713.67 $ 1,172.51 $ 541.16 Reserves: Meter Deposits $ 15,182.80 $ 15,182.80 Fund Balance: Unappropriated $ 2,404.46 $ (4,478.40) $ 6,882.86 Invested in Fixed Assets 1,569,7.43.68 520,961.68 1,048,282.00 Total Fund Balance $1,571,648.14 $516,483.28 $1,055,164.86 Total Liabilities, Reserve and Fund Balance $1, 588,544.61 X53 2,838.59 X 06.0 • UTi ) 1 i -, 1, b CU. STATE.'-:ENiT OF ill� 2011 D-EP.,�,ECiATION 31, 1 • 7 ' XED :�SSTI`TS X. 1 .1 -�'ICCU14ULATPD I 3ALA-1NCE 3ALANCE 3ALAINiCE i-a C E 3001 VALUE Y EA ADDITIONS DECEH3ER 31, JANUARY 1, ADDITIONS DEC2'1 31, 31, AcnUIRED 1970 (DISPOSALS) 1970 RAT E 1970 1970 1 970 1 1)7 0 WATER OPERATING: Buildings and Structures: Deep Well Pump No. 1 and Elevated Water Storage Tank 1968 $104,522.14 $104,522.14 2 $ 2,090.44 $ 2,090.44 $ 4,180.88 $100,341.26 Machinery and Equipment: 1968 Chevrolet 3/4 ton true] (1/2 cost) 1968 999.50 999.50 20 199.90 199.90 399.80 599.70 #9TP31A Pump with suction hose 1970 280.47 (1/2 cost) 280.47 10 280.47 Water Distribution System 404,977.93 22,861.88 427,839.81 2 8,099.56 8,099.56 419,740.25 Totals $510,499.57 23,142.35 $ 10,389.90 $ 2,290.34 $520.961.68 Fixed Assets, to Exhibit 7 $533,641.92 Depreciation Reserve, to Exhibit 7 $ 12,680.24 SEWER OPERATING: Buildings and Structures: Sewage Disposal Plant 1968 $187,309.24 $187,309.24 2 $ 3,746.18 $ 3,746.18 $ 7,492.36 $179,816.88 Machinery and Equipment: 1968 Chevrolet 3/4 ton truck (1/2 cost) 1968 999.50 999.50 20 199.90 199.90 399.80 599.70 #9TP31A Pump with suction hose (1/2 cost) 1970 280.47 280.47 10 280.47 General Auger 1970 56.03 56.03 5 56.03 Sewer interceptor lines, lateral lines and lift stations 863,548.39 21,251.50 884,799.89 2 17,270.97 17,270.97 867,528.92 Totals $1,051,857.13 00 $ 21,217.05 3,946.08 $1,048,282.00 Fixed Assets, to Exhibit 7 $1,073,445.13 Depreciation Reserve, to Exhibit 7 $ 25,163.13 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 8 UTILITIES FUND COMBINED STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED DECEMBER 31, 1970 • WATER SEWER TOTAL OPERA'T'ING OPERATING Cash, treasurer's balance ,January 1, 1970 $ (277.66) $ (222.09) $ (55.57) Receirts: Customer Collections $ 19,386.03 $ 10,896.23 $ 8,489.80 Permit fees 1,128.00 560.00 568.00 Meter deposits 6,370.27 6,370.27 Total receipts $ 26,884.30 $ 17,826.50 $ 9,057.80 Total $ 26,606.64 $ 17,604.41 $ 9,002.23 Disbursements: Inspector's fees $ 1,657.60 $ 800.00 $ 857.60 Professional services 775.94 26.25 749.69 Utilities 3,230.45 758.70 2,471.75 School 50.00 50.00 Office supplies 121.47 60.73 60.74 Equipment maintenance 412.82 206.40 206.42 System maintenance 2,353.71 1,813.80 539.j1 � ^Jater meters - acquisition and maintenance 6,107.16 6,107.16 Sales tax 280.83 280.83 Equipment acquisition 616.98 280.48 336.50 Due from Other Funds 204.54 204.54 Establishment of Petty Cash Fund 50.00 50.00 Total disbursements $ 1.5,b61.50 $ 10,638.89 $ 5,222.61 Cash, treasurer's balance, December 31, 1970, to Exhibit 7 10 x_6_965.52 $ 3,779.62 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 9 STATEMENT OF GENERAL FIXED ASSETS FOR YEAR ENDED DECEMBER 31, 1970 • BALANCE BALANCE JANUARY 1, DECEMBER 31, 1.970 ADDITIONS 1970 Buildings and Structures: Old Town Hall $ 7,000.00 $ 7,000.00 Municipal Building and Garage, Schedule 5.1 $ 62,315.44 62,315.44 Recreation Buildings (2), Schedule 5.1 25,195.89 25,195.89 Machinery and Equipment: Police Department: 1952 Ford 4 door sedan 1,195.00 1,195.00 Mobile radio unit 2,029.50 2,029.50 Recreation Department: 14 H.P. Cub Cadet tractor with accessories 1,989.00 1,989.00 1 -1/2 x 150 feet hose 447.18 447.18 Playground equipment 2,874.40 2,874.40 Basketball and tennis equipment 394.20 394.20 • Table tennis equipment 98.44 98.44 Chain link fence 3,100.00 3,100.00 Furniture and Office Equipment: Village Clerk: Olympia typewriter 245.00 245.00 Addox adding machine 325.00 325.00 Steel file 150.00 150.00 Paymaster check printer 154.50 154.50 Village Hall: 50 chairs, steel with orange seats 1,000.00 1,000.00 Police Department: Desk with chair 401.89 401.89 Fireproof file 309.60 309.60 Recreation Department Stereo System 182.50 182.50 Other Improvements: Streets, Schedule 5.1 245,973.55 245,973.55 Storm Sewers 22,262.40 22,262.40 Totals $ 8,720.00 X368,9 23.49 General Fixed Assets, to Exhibit 10 X • c�� VILLAGE OF OAK PARK HEIGHTS, MINNESOTA I?:tii1 I ?3IT 1 'J C0i•13iNED BALANCE SHEET - ALL FUNDS (CONDENSED FOR14) DECEi4BER 31, 1970 GENERAL DEBT 1iv'IPR0VE1`'LNT UI'ILiTIES (]ENERAL FUND SERVICE FUND FUND FUND FIXED ASSETS TOTAL EXIIIBIT 1 EXH13IT 3 EXHIBIT 5 EXIlIBIT 7 EXI1I131T ASSETS Cash, Treasurer's balance, Exhibit 11 $ 93,159.13 $ 66,783.67 $ 34,203.20 $(18,572.88) $ 10,745.14 Petty cash 50.00 50.00 Deposits with fiscal agents 720.76 720.76 Investments, Schedule 10.1 171,800.00 5,000.00 166,000.00 Due from County Auditor 95,140.29 58,005.73 37,134.56 Accounts Receivable 8,301.25 8,301.25 Taxes Receivable, net 1,637,990.00 1,637,990.00 Special Assessments Receivable 307,512.64 307,512.64 Due from Other Funds, Schedule 10.2 9,471.01 6,871.47 2,395.00 204.54 Amount to be Provided for Debt Retirement 240,876.08 240,876.08 Fixed Assets, net 1,946,887.17 1,569,243.68 $377,643.49 Construction Work in Progress, Schedule 5.1 28,664.78 28,664.75 Total Assets $4,540,573.11 $136,660.87 $2,425,237.24 $ 12,486.90 $1,588,544.61 $377,643.49 . LIABILITIES, RESERVES AND FUND BALANCE Liabilities: Accounts Payable $ 15,960.73 $ 7,828.38 $ 181.48 $ 7,087.00 $ 863.87 Contracts Payable 11,843.91 11,843.91 Bonds Payable, Schedule 3.1 1,375,000.00 1,375,000.00 Sales Tax Payable 132.85 132.85 Due to Other Funds, Schedule 10.2 9,471.01 2,599.54 6,154.52 716.95 Matured Interest Payable 720.76 720.76 Reserves: Meter Deposits 15,182.80 15,182.80 Future interest on bonds, Schedule 3.1 1,049,335.00 1,049,335.00 Fund Balance: Unappropriated 116,038.88 126,232.95 (12,598.53) 2,404.46 Invested in Fixed Assets 1,946,887.17 1,569,243.68 $377,643.49 Total Liabilities, Reserves and Fund Balance $4,540,573.11 $136,660.87 $2,425,237.24 $ 12,486.90 $1,588,544.61 $377,643.49 c� JILLAi:�E OF OAK PARR HEIGHTS, MINNESOTA S .:_T SWi1:' -AAY O F Ti'v' 1NSAC:' 10NS 1'Uil THE YEAR 2INDED DLiCEi-!f3Ea' 31, i9I DEBT GENERAL SEi2VICE I1 TOTAL FUND FUND FUND Investments, January 1, 1070 $220,081.04 $ '75,2v1.94 $150, -00.00 Add: Purchase of Investments 334,039.30 167,239.30 $166,500.00 -0- Total $563,121.24 $245,521.24 $166,800.00 $150,E:00.00 Less• • Sale of Investments 301,321.24 240,521.24 -0- 150,200.00 $ -0- Total Investments 12- 31 -70, to Exhibit 10 $171,800.00 General Fund Investments 12- 31 -70, to Exhibit 1 $ 5,000.00 Debt Service Fund Investments, 12- 31 -70, to Exhibit 3 $166,800.00 Fl{ i VILLt.OL OF OAK PARK IiEIGIIrS i MINNESOTA r - ,) � T SCHEDULE OF IN`I'ERFUND TRANSPLRS DECENL3ER 31, 1970 • DUE DUE 'PO FROM Improvement Fund $ 2,395.00 Demolition of old school buildin.3 on park property General Fund $ 2,395.00 paid by linprovement Fund. Water Operating Fund 204.54 General Fund expenditures paid by Utility Fund durinj General Fund 204.54 1970 (Vouchers 58o 605, 615, 681). General Fund 481.25 Water Operating Fund obligation to C & P Excavating Water Operating Fund 481.25 paid by General Fund (Voucher 2031). General Fund 191.95 Sewer Operating Fund obligations re damage at Irvin Sewer Operating Fund 191.95 Hansen residence paid by General Fund (Vouchers 2188, 2189, 2190). General Fund 43.75 Engineering services re sewage treatment plant paid Sewer Operating Fund 43.75 by General Fund (Invoice N 7258). General Fund 4,654.52 Legal and engineering services for improvements paid by Improvement Fund 4,654.52 General Fund (Vouchers 2262, 2275, 2276, 2185, 2217, 1907, 2035, 1964, 1968). General Fund 1,500.00 Condemnation award paid by General Fund (Voucher 2146). Improvement Fund 1,500.00 . Total Due From Other Funds, Exhibit 10 $ 9,471.01 Total Due To Other Funds, Exhibit 10 _9,471.01 Recapitalization By Funds: Due To General Fund, Exhibit 1 $ 6,871.47 Due To Improvement Fund, Exhibit 5 2,395.00 Due To Water Operating Fund, Exhibit 7 204.54 Due From General Fund, Exhibit 1 $ 2,599.54 Due From Improvement Fund, Exhibit 5 6,154.52 Due From Water Operating Fund, Exhibit 7 481.25 Due From Sewer Operating Fund, Exhibit 7 235.70 Totals $ 9,471.01 $ 9,471.01 33 VILLAGE OF OAK PARK IIEIGHTS, lINNESOTA TEN1113 11 SUi S ELNT OF iR- LCEIP`1`S AtiD DISBURSE2- iENTS, ALL FUNDS FOR 1 22E YEAR END ,D DECE�KBER 31, 1970 • TREASURER'S TRBASURER' S BALANCE TRANSFERS TRANSFERS BALANCE FUND 1 -1 -70 RECEIPTS IN TOTAL DISBURSEMENTS OUT 12 -31 -70 General Fund, Exhibit 2 $ 76,951.32 $327,493.92 $404,445.24 $270,351.12 $ 67,310.45 $ 66,783.67 Debt Service Fund: G.O. Bonds of 1967 and 1968, Exhibit 4 127,826.56 99,709.24 $ 67,310.45 294,846.25 260,643.05 34,203.20 Improvement Fund, Exhibit 6 (98,252.99) 153,380.67 55,127.68 73,700.56 (18,5 "72.88) Utility Funds: Water Operating, Exhibit 8 (222.09) 17,826.50 17,604.41 10,638.89 0,965.52 Sewer Operating, Exhibit 8 (55.57) 9,057.80 9,002.23 5,222.61 3,779.62 Totals $106,247.23 $607,468.13 $ 67,310.45 $781,025.81 $620,556.23 5 67,310.45 Cash, Treasurer's Balance, All Funds, to Exhibit 10 S 93,159.13 i i VILL OF OAK PARK HEIGHTS, 1•1INNESOTA E:iIII3IT 12 S`i'A'i Ei.0 -.V'2 OF 302NDS P AYA3LE FOR TiIE YEAR ENDED DECEi-iBER 31, 1970 • AMOUNT RETIRED BONDS 30NDS OF PRIOR PAYABLE 1970 TRANSACTIONS PAY BOND ISSUE DATE OF ISSUE INTEREST RATES ISSUE PERIOD 1 -1 -70 ISSUED RETIRED 12 -31 -70 General Obligation Improvement Bonds of 1967 September 1, 1967 4.5, 4.6, 4.7 $900,000.00 $ -0- $900,000.00 $ 25,000.00 $875,000.00 General Obligation Water and Sanitary Sewer Improvement Bonds of 1968 March 1, 1968 4.8, 5 $500,000.00 -0- 500,000.00 -0- 500,000.00 Totals 51,400,000.00 5 -0- $1,400,000.00 5 -0- $ 25,000.00 Bonds Payable, $1,375,000.00 December 31, 1970 i i VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 13 STATEMENT OF DEBT SERVICE CHARGES UNTIL MATURITY DECEMBER 31, 1970 • TOTAL Bonds Payable $1,375,000.00 Future Interest Payable 1,049,335.00 Total X2 335.00 Payments to Maturity: 1971 $ 94,965.00 1972 93,600.00 1973 92,235.00 1974 90,870.00 1975 99,505.00 1976 97,675.00 1977 95,845.00 1978 94,015.00 1979 92,185.00 1980 100,355.00 1981 98,045.00 1932 95,735.00 1983 93,385.00 1984 91,035.00 1985 88,655.00 • 1986 91,275.00 1987 88,665.00 1988 86,055.00 1989 88,445.00 1990 85,585.00 1991 82,690.00 1992 79,795.00 1993 81,900.00 1994 78,770.00 1995 75,640.00 1996 72,510.00 1997 69,380.00 1998 25,520.00 2, 424,335.00 • 36 - r VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 14 SECURITY FOR DEPOSITS DECEMBER 31, 1970 Assigned by First National Bank of Stillwater: 7.1 /o Federal Intermediate Credit Bank Notes, Dated October 1, 1970, due July 1, 1971 $100,000.00 The above securities are on deposit with First National Bank of Minneapolis for safekeeping. Assigned by Cosmopolitan State Bank of Stillwater NONE • 37 VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 15 OFFICIAL BONDS DECEMBER 31, 1970 • AMOUNT Security: Western Surety Company Coverage: Public Employees Blanket Bond $ 1,000.00 Ken Heuer, Clerk - Treasurer 10,000.00 Bond Number: 5356124 Effective: August 20, 1970, Continuous • • VILLAGE 02 OAiC PARR HEIGHTS, MINNESOTA E 11I3IT 1,5 INSOiZA JC E IN FORCE DECEi 31, 1970 POLICY DATE COMPANY ivu_NDER AMOUNT EFFECTIVE EXPIRATION COVERAGE AMOUNT Pacific Indemnity Insurance Company CMP 28639 $282,540.00 7/7/69 7/7/72 Fire and Municipal Building $ 52,200.00 Extended Water Tank 05,340.00 Coverage, Sewage 'Treatment Vandalism Plant 47,700.00 and Mali- Settling Tanks 94,500.00 cious Mis- Recreation Building chief Swager Park 11,400.00 Recreation Building Lower Oak Park 11,400.00 $282,540.00 Pacific Indemnity Insurance Company EC 380522 Statutory 12/31/70 12/31/71 Workmen's Compansation Pacific Indemnity Insu rance an rance Com LM 10263 50/300,000 7/7/70 7/7/71 Bodily Injury, Comprehensive Auto Liability Company 50/100,000 Property Damage, Comprehensive Auto Liability 50/300,000 Personal Injury, Comprehensive Auto Liability 10/20,000 Unissued Motorists 50 /ACV 1968 Chevrolet 3/4 ton truck 50 /ACV 1968 Ford 4 door police car • Austin -St. Paul Mutual Insurance Company OC 80 -54 -35 7,000 5/15/70 5/15/73 Fire and Lightning Extended Coverage for Old Town Hall Lumbermans Mutual Insurance Company F- 54,492 10,000 2/9/70 2/9/72 Paymaster Corporation for Coverage of Check Printer as � VILLAGE OF OAK PARK HEIGHTS, MINNESOTA EXHIBIT 17 ORGANIZATION 1970 TERM EXPIRES Mayor: Ramond N. Johnson 12/31/70 Councilmen: Robert S. Torgerson 12/31/71 George O. Monty 12/31/72 Donald Mondor 12/31/72 Lester Bell Resigned effective 6/30/70 Lloyd G. Larson Appointed effective 9/1/70 Term expires 12/31/70 Treasurer: Donald Oelke Resigned effective 3/31/70 • Clerk- Treasurer: Ken Heuer Appointed Attorney: Eckbere, Lammers and Ladegaard Terminated 5/28/70 Lawson, Kelly and Ranum Appointed 5/28/70 Engineer: Bonestroo, Rosene, Anderlik and Associates, Inc. Appointed 110 VILLAGE OF OAK PARK IIEIGHTS, MINNESOTA EXHIBIT 18 TAXABLE VALUATIONS, TAX LEVIES AND MILL RATES 1971 1970 1969 Taxable Valuations: Peal estate $ 9,940,198.00 $10,124,314.00 $ 6,034,842.00 Personal property 198,607.00 1_91,206.00 197,368.00 Totals $10,138,805.00 $10,315,520.00 $ 6,232,210.00 Tax levies, extended by County Auditor: Extended in year 1970 1969 1968 Collectible in year 1971 1970 1969 Revenue $ 119,739.28 $ 115,946.44 $ 110,372.44 Bonds and Interest 56,878.70 54,569.10 Totals $ 176,617.98 $ 170,515.54 $ 110,372.44 • Mill Rates: Revenue 11.81 11.24 17.71 Bonds and Interest 5.61 5.29 Totals 17.42 16.53 17.71