1970 City of Hopkins, MN Annual Financial Report CITY OF HOPKINS
HOPKINS, MINNESQ .
ANNUAL a.,
FINANCIAL REPO
DECEMBER 31, 1970-1
CITY OF HOPKINS , MINNESOTA
AUDITED FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
DECEMBER 31, 1970
INDEX
Page
ACCOUNTANT'S REPORT ON AUDITED FINANCIAL STATEMENTS I
COMMENTS AND ACCOUNTANT' S REPORT ON OTHER
FINANCIAL INFORMATION II
GENERAL AND SPECIAL REVENUE FUNDS
Balance sheet 2
Analysis of changes in fund balance
General 3
Beach concession fund 3
Revenue - general fund 4-6
Expenditures - general fund 7-13
Analysis of change in reserve
Park board construction fund 14
State aid street construction fund 15
PERMANENT IMPROVEMENT REVOLVING FUND
Balance sheet 17
Analysis of changes in fund balance 18
Statement of appropriations , expenditures
and amounts assessed 19
Analysis of assessments receivable 20
SPECIAL ASSESSMENT FUND
Balance sheet 22
Analysis of changes in fund balance 23
Analysis of assessments receivable 23
Analysis of bonds and interest payable 23
BOND RETIREMENT FUND
Balance sheet 25
Analysis of changes in fund balance 25
Analysis of bonds and interest payable 26
TRUST AND AGENCY FUNDS
_ Balance sheet 28
Statement of receipts and disbursements 29
WATER UTILITY FUND
Balance sheet 30
Analysis of changes in fund balance 31
Statement of income and expense 32
Fixed assets 33
Page
SEWER UTILITY FUND
Balance sheet 35
Analysis of changes in fund balance 36
Statement of income and expense 37
'— Fixed assets 38
GENERAL FIXED ASSETS
Balance sheet 40
COMBINED SECTION
Fund balance sheets 42-43
Investments 44
Analysis of bonds and interest payable 45
Bonds and interest payable 46
GENERAL
Security for deposits 48-49
Official bonds 50
Insurance in force 51
Organization 52-53-54
ROBERT J . LAPIC
Certified Public Accountant
32 Tenth Avenue South Hopkins, Minnesota 55343
Robert J. Lapic CPA
July 26, 1971
To the City Council
City of Hopkins , Minnesota
I have examined the balance sheets of the various funds of the
City of Hopkins , Minnesota as of December 31, 1970 and the
— related statements of revenues and expenditures or income and
expense and fund balances for the year then ended. My examin-
ation was made in accordance with generally accepted auditing
standards , and accordingly included such tests of the account-
ing records and such other auditing procedures as I considered
necessary in the circumstances.
I did not confirm assessments receivable by direct correspondence
with the debtors .
In my opinion, subject to the qualification stated above, the
accompanying balance sheets and statements of revenues and ex-
penditures, income and expense and fund balances present fairly
the financial position of the City of Hopkins at December 31,
1970 and its various special funds and the results of their
operations for the year then ended, in conformity with generally
accepted accounting principles applied on a basis consistent with
that of the preceding year.
July 6, 1971
a
I
ROBERT J . LAPIC
Certified Public Accountant
32 Tenth Avenue South Hopkins, Minnesota 55343
Robert J. Lapic CPA
COMMENTS AND ACCOUNTANT 'S REPORT ON OTHER
FINANCIAL INFORMATION
City of Hopkins
Hopkins , Minnesota
The audited financial statements of the various funds of the City con-
sisting of balance sheets and statements of revenues and expenditures
or income and expense, and fund balances and my report thereon are
presented in appropriate sections of this report. Financial informa-
tion not specifically referred to above and financial information
contained in the following comments , was derived from the accounting
s
records tested by me as part of the auditing procedures followed in
my examination of the aforementioned financial statements , and in my
opinion, is fairly presented in all material respects in relation to
the financial statements taken as a whole ; however, it is not neces-
sary for a fair presentation of the financial position and results of
operations of the City.
The following comments set forth certain auditing procedures and
other matters pertinent to my examination:
Cash on deposit at December 31, 1970 was reconciled to balances
reported directly to me by the various depositories . Cash work-
ing funds and cash on hand for deposit at December 31, 1970 were
counted by me.
Cash receipts and cash disbursements procedures were reviewed
and tested by me for a selected period during the year to deter-
mine that proper procedures were being followed to control
recording of receipts , and that proper authorization was provided
for disbursements .
Cash deposited with fiscal agents was confirmed to me by direct
correspondence with the fiscal agents .
�. Temporary investments were confirmed to me by the holders of the
securities .
Accounts and mortgage receivable were tested by direct correspon-
dence and by review of the records for subsequent collections .
Differences reported were not material and were explained to my
satisfaction.
II
—
Current and delinquent taxes and special assessments and tax
settlements received during the year were confirmed by direct
correspondence with the County Auditor. I reviewed delinquent
assessments reported to me to ascertain they were in agreement
with the City ' s records . Transactions pertaining to special
assessments receivable were reviewed, however, no confirmation
of special assessments receivable at December 31, 1970 was made.
Accrued interest receivable was tested by reference to informa-
tion obtained directly from holders of the securities .
Interfund transfers and charges were reviewed by me.
Authorized construction to be assessed and amounts to be pro-
vided for construction were reviewed and traced to the official
minutes of the City Council.
Amounts to be provided for debt retirement were reviewed by me
as to amount and authorization.
—
Prepaid expenditures were reviewed by me as to amount and nature
of item.
Additions to and disposals from fixed asset accounts were re-
viewed by me and verified by inspection of contracts , invoices
or other data. Allowances for depreciation charged to operating
funds of the City were reviewed by me.
Accounts payable balances were tested by me by comparison to
vendors ' invoices and by reference to disbursements subsequent
'— to December 31, 1970.
Matured bonds and interest payable funds were on deposit with
fiscal agents and were confirmed to me by direct correspondence
with the fiscal agents.
Due on contract for deed balance was confirmed to me by direct
correspondence with the holder.
Contracts payable balances were reviewed and compared to projects
authorized and to payment subsequent to December 31, 1970.
Interest payable balance computation was tested and compared to
terms of related bond issues.
Bonds payable balances were reviewed by reference to terms of
related issues and authorization. Cancelled bonds redeemed and
paid during 1970 were inspected by me.
—
III
Sales tax payable was reviewed and payment subsequent to
December 31, 1970 was sighted.
Official minutes of the City Council for 1970 were read by me.
The City Attorney has represented to me that no material con-
tingent liabilities exist at December 31, 1970.
COMMENTS ON FINANCIAL STATEMENTS
GENERAL FUND
The General Fund is used to account for all revenues and activities
financed by the City which are not accounted for in some special
fund.
The mortgage receivable in the amount of $149, 781 results from the
sale of City property located at 11th Avenue South, Hopkins , Minnesota,
and is due on or before December 31, 1971 . A reserve in this amount
has been established which will, upon receipt of the mortgage proceeds ,
serve to set aside and earmark the sales proceeds for future acquisi-
tions of property.
Deferred expenditures , resulting from property purchases are:
To be provided for property purchases :
Acquisition of the old post office site,
9th Avenue South, Hopkins , Minnesota,
and land acquisition and preparation
costs of the land located at 11th Avenue
South, Hopkins , Minnesota, which has
been sold during the year under review. $41T219
To be provided for contract for deed resulting
from purchase of land fill property:
$9,000 of this amount has been provided
from current revenues of prior years ,
current balance consists of:
Contract for deed balance including
interest $15 , 788
Due to Permanent Improvement
Revolving Fund 29 ,422
-- $45 .210
IV
BEACH CONCESSION FUND
This fund was established to account for revenues and expenditures
of the concession located at Shady Oak Lake.
STATE AID STREET CONSTRUCTION FUND
This fund accounts for gasoline and tax collections apportioned to
the City by the State of Minnesota for street construction.
PARK BOND FUND
This fund was established to account for the proceeds of the sale of
general obligation bonds of the City for the purpose of acquiring
land, construction of certain structures and other improvements of
Hopkins park, playground and recreation areas,
PERMANENT IMPROVEMENT REVOLVING FUND
This fund accounts for construction costs incurred by the City. The
fund receives proceeds from the sale of permanent and temporary bonds
sold for construction or improvement purposes . Redemption of these
bonds is provided for by levies of special assessments on properties
benefited, and payments from other sources . Costs include a percent-
age charge in an amount sufficient to reimburse the City for costs
of engineering and clerical services properly assignable to various
special assessment projects .
SPECIAL ASSESSMENT FUND
This fund was established, prior to the establishment of the Permanent
Improvement Revolving Fund, to account for special assessments levied
to finance improvements deemed to benefit the properties against which
assessments are levied. The fund accounts for collection of assess-
ments against benefited property owners and disbursement of assessment
collections for the payment of bonds and interest. Since its incep-
tion the Permanent Improvement Revolving Fund now serves this purpose.
It is to be noted that cash has been deposited with fiscal agents in
the amount of matured bonds and interest payable.
BOND RETIREMENT FUND
This fund was established to account for the payment of general
obligation bonds . Funds to be used for payment of bonds and interest
are to be received from other funds as required. As in the case of
the Special Assessment Fund, it is to be noted that cash has been
deposited with fiscal agents in the amount of matured bonds and
interest payable.
V
TRUST AND AGENCY FUNDS
This fund was established to account for revenues and expenditures
of various activities of City agencies and departments not considered
to be a general fund activity.
WATER UTILITY FUND
This fund was established to account for the City owned and operated
water utility. The fund operates as a business entity.
SEWER UTILITY FUND
This fund was established to account for the City owned and operated
sewer utility. The fund operates as a business entity.
—
VI
CITY OF HOPKINS , MINNESOTA
GENERAL AND SPECIAL
REVENUE FUNDS
1
CITY OF HOPKINS, MINNESOTA
GENERAL AND SPECIAL REVENUE FUNDS
BALANCE SHEET
DECEMBER 31, 1970
FUNDS
State aid
Beach street Park bond
Total General concession construction construction
ASSETS
Cash $284,976 $ 70,941 $ 12,938 $ 89,620 $111,477
Temporary investments, at cost 334,308 334,308
Accrued interest receivable on investments 3,938 3,938
Accounts receivable 34,118 34,118
Mortgage receivable 149,781 149,781
Inventory, supplies 1,730 1,730
To be provided for contract for deed 45,210 45,210
To be provided for property purchases 41,219 41,219
Prepaid expenditures 1,320 1,320
$896,600 $682,565 $ 12,938 $ 89,620 $111,477
LIABILITIES, RESERVES AND FUND BALANCE
Liabilities
Accounts payable $133,790 $133,790 $ $ $
Due to other funds 220,367 220,367
Due on contract for deed 15,788 15,788
369,945 369,945
Reserves
Encumbrances 101,584 101,584
Mortgage receivable 149,781 149,781
Unrealized revenue 37,431 37,431
Imprest cash 180 180
Inventories 1,730 1,730
Unexpended appropriations 201,097 89,620 111,477
491,803 290,706 89,620 111,477
Fund balance
Unappropriated 34,852 21,914 12,938
$896,600 $682,565 $ 12,938 $ 89,620 $111,477
2
TRUST AND AGENCY FUNDS
This fund was established to account for revenues and expenditures
of various activities of City agencies and departments not considered
to be a general fund activity.
WATER UTILITY FUND
This fund was established to account for the City owned and operated
water utility. The fund operates as a business entity.
SEWER UTILITY FUND
This fund was established to account for the City owned and operated
sewer utility. The fund operates as a business entity.
s
VI
s
CITY OF HOPKINS , MINNESOTA
GENERAL AND SPECIAL
REVENUE FUNDS
i 1
CITY OF HOPKINS, MINNESOTA
GENERAL AND SPECIAL REVENUE FUNDS
ANALYSIS OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1970
Beach
Total General concession
Fund balance, January 1, 1970 $ 58 ,820 $ 47, 550 $_ 11.L270
Additions :
Reserve for encumbrances ,
January 1, 1970 264, 131 264, 131
Revenue 1,421, 214 1,410, 339 10,875
1, 685 , 345 1, 674,470 10,875
Deductions :
Expenditures 1, 607, 729 1, 598 , 522 9, 207
Reserve for encumbrances ,
December 31, 1970 101,584 101,584
1, 709, 313 1, 700, 106 9,207
$ 34,852 $ 21, 914 $_ 12, 938
—
3
CITY OF HOPKINS , MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED DECEMBER 31, 1970
Revenue Increase
Estimate ActuaT decrease;
General property taxes :
Current ad valorem $850, 645 $839 ,505 $ 11, 140*
Delinquent ad valorem 4,000 4, 130 130
Penalty and interest on
delinquent taxes 2, 000 2,269 269
856, 645 845 ,904 10, 741*
Licenses and permits :
Business 43, 115 41, 786 1, 329*
Non-business 23, 700 49 ,435 25, 735
Street use 760 692 68*
67,575 91, 913 24, 338
Fines and forfeitures :
Court fines 30, 000 43, 546 13, 546
Forfeitures 400 276 124%'r
30,400 43,822 13,422
Use of money and property:
Interest earnings 15, 000 24, 233 9 ,233
Interest, assessments 40, 000 40, 076 76
Rents 840 3, 752 2 ,912
Commissions 100 133 33
55, 940 68 , 194 12 ,254
Revenue from other agencies :
State shared taxes
Liquor 19 , 743 20,230 487
Cigarettes 23,800 23, 765 35*
Bank excise 3, 000 8 ,990 5 , 990
Mortgage registry 3,500 8 ,919 5,419
State aid-road maintenance 10,920 10,455 465*
Mobile homes 2 ,800 2, 958 158
Per capita sales tax 96,659 96, 782 123
160,422 172,099 11 , 677
-
4
CITY OF HOPKINS , MINNESOTA
GENERAL FUND
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED DECEMBER 31, 1970
Revenue Increase
Estimated Actual decrease*
Charges for current services :
General government $ 1, 300 $ 1, 272 $ 28*
Public safety 1, 010 1, 394 384
Library 1, 500 4, 947 3 ,447
Recreation 90,524 103,871 133347
94, 334 111,484 17, 150
Transfers from other funds (permanent) :
Parking 2 ,300 2 , 268 32%;
P. I.R. overhead transfer 32,000 16,686 15 , 314'
Water utility 21,450 21,450
_ Sewer utility 19 , 750 19 , 750
Special assessment 12, 000 12, 000
87,500 723154 15, 346-
- Other revenue 4,012 4, 769 757
Total $1, 356,828 $1,410, 339 $ 53,511
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CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve for
Appropriations encumbrances Encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance _December 31, 1970 balance
GENERAL GOVERNMENT (continued)
Finance and accounting
Personal services $ 27,264 $ $ 27,264 $ 29,919
$ (2,655) $ $ (2,655)
Contractual services 380 380 505 (125) 125
Commodities 920 920 972 (52) ((52)
Other charges 90 90 90
Assessing 28,654 28,654 31,486 (2,832) (2,832)
Personal services 22,950 22,950 23,201 (251) 251)
Contractual services 1,200 1,200 899 301 (301
Commodities 500 500 491 9 9
Other charges 85 85 128 (43) (43)
(
Capital outlay 200 200 307 107) 107
24,935 24,935 25,026 (91) 91
Zoning and planning �-)
Personal services 1,200 1,200 414 786
786
Contractual services 4,900 4,900 5,894 (994) (994)
Commodities 400 400 412 (12) 12)
Other charges 100 100 11 89 (89
Municipal building 6,600 6,600 6,731 (131) 131)
Personal services 16,800 16,800 17,495 (695) (695)
(
Contractual services 17,800 17,800 21,345 (3,545) 3,545
Commodities 3,100 3,100 3,966 (866) (866)
Capital outlay 2,200 919 3,119 1,223 1,896 1,896
39,900 919 40,819 44,029 (3,210) 1,896 (5,106)
Total 182,576 4,919 187,495 202,914 (15,419) 1,896 (17,315)
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve for
Appropriations encumbrances Encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance December 31, 1970 balance
PUBLIC SAFETY
Police protection
Personal services $222,437 $ $222,437 $225,732 $ (3(416) $ $ (3,295)
351
Contractual services 9,808 351 10,159 10,575 (767)
Commodities 9,600 9,600 9,213 387 387
Other charges 150 150 60 90 90
Capital outlay 6,400 5,382 11,782 10,934 848 848
Fire protection 248,395 5,733 254,128 256,514 (2,386) 1,199 (3,585)
Personal services 23,000 23,000 22,818 182 182
Contractual services 4,750 4,750 4,966 (216) (216)
Commodities 3,000 3,000 1,052 1,948 1,948
Other charges 375 375 384 (9) (9)
Capital outlay 8,700 19,630 28,330 634 27,696 27,696
Other expenditures 1,550 1,550 1,550 1 550
41,375 19,630 61,005 29,854 31,151 27,696 3,-
Inspection services
Personal services 45,133 19,000 64,133 43,271 20,862 35,240 (14,378)
Contractual services 1,150 1,150 1,646 (496) (496)
Commodities 800 800 804 (4) (4)
Other charges 120 120 112 8 8
Capital outlay 850 850 800 50 50
Civil emergencies 48,053 19,000 67,053 46,633 20,420 35,290 (14,87
Personal services 300 300 112 188 188
Contractual services 110 110 100 10 10
Capital outlay 1,000 1,000 1,000 1,000
Animal control 1,410 1,410 212 1,198 1,000 198
Contractual services 2,300 2,300 1,995 305 305
Total 341,533 44,363 385,896 335,208 50,688 65,1851( 4,497)
8
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve for
Appropriations encumbrances Encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) Januar, 1, 1970 Total Expenditures balance December 31, 1970 balance
PUBLIC WORKS
Engineering
Personal services $ 34,372 $ $ 34,372 $ 39,487 $ (5,115) $ $ (5,115)
Contractual services 500 500 1,257 (757) (757)
Commodities 600 600 1,063 (463) ((37)
Other charges 80 80 117 (37) 37)
35,552 35,552 41,924 !6,372) (6.372)
Street administration6,248)
Personal services 48,000 48,000 54,248 (6,248) (
Contractual services 9,600 9,600 11,132 (1,532) (1,532)
commodities 17,500 17,500 32,868 (15,368) (15,368)
Capital outlay 15,000 9,840 24,840 10,006 14,834 14,834
90,100 9,840 99,940 108,254 (8,314) 14,834 (23,148)
Streets and alleys 3,827 '
Personal services 20,800 20,800 16,973 3,827
Contractual services 1,600 1,600 945 655 655
Commodities 22,500 22,500 33,080 (10,580) (10,580)
Capital outlay 4,000 13,184 17,184 17,184 17,184
48,900 13,184 62,084 50,998 11,086 17,184 (6,098)
Snow and ice removal
Personal services 10,845 10,845 9,504 1,341 1,341
Contractual services 500 500 (31) 531 531
Commodities 3,500 3,500 4,402 (902) _(902)
14,845 14,845 13,875 970 970
Traffic signs and signals
Personal services 2,700 2,700 2,975 (275) (275)
Contractual services 6,000 6,000 7,242 (1,242) (1,242
Commodities 1,900 1,900 3,455 (1,555) (1,555
Capital outlay 1,000 1,000 1,209 (209) )
11,600 11,600 14,881 (3,281) (3,281)
Street lighting
Personal services 6,000 6,000 4,776 1,224 1,224
Contractual services 23,200 23,200 23,048 152 152
29,200 29,200 27,824 1,376 1,376
Total 230,197 23,024 253,221 257,756 (4,535) 32,0183( 6,553)
9
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve Lot
Appropriations encumbrances Encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance December 31, 1970 balance
SANITATION AND WASTE DISPOSAL
Tree and weed control
Personal services $ 3,900 $ $ 3,900 $ 2,669 $ 1,231 $ $ 1,231
Contractual services 2,080 2,080 128 1,952 1,952
Commodities 400 400 198 202 202
6,380 6,380 2,995 3,385 3,385
Street cleaning
Personal services 6,500 6,500 7,991 (1,491) (1,491)
Storm sewers
Personal services 4,000 4,000 4,973 (973) (973)
Capital outlay 40,000 175,771 215,771 214,268 1,503 1,503
44,000 175,771 219,771 219,241 530 1,503 973)
Refuse collection and disposal
Personal services 80,500 80,500 84,394 (3,894) (3,894)
Contractual services 800 800 2,037 (1,237) (1,237)
Commodities 3,500 3,500 10,349 (6,849) (6,849)
84,800 84,800 96,7801( 1,980) (11,980)
Total 141,680 175,771 317,451 327,007 (9,556) 1,503 (11,059)
HEALTH AND WELFARE
Health
Personal services 6,700 6,700 4,567 2,133 2,133
Contractual services 3,600 3,600 3,595 5 5
10,300 10,300 8,162 2,138 2,138
Welfare
Contractual services 10,000 10,000 9,040 960 960
Total 20,300 20,300 17,202 3,098 3,098
1'
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve or
Appropriations encumbrances Encumbrances
(after outstandingUnexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance December 31, 1970 balance
LIBRARY
Public library
Personal services $ 43,022 $ $ 43,022 $ 36,079 $ 6,943 $ $ 6,943
Contractual services 7,675 7,675 6,966 709 709
Commodities 22,100 22,100 23,522 (1,422) (1,422)
Other charges 125 125 108 17 17
Capital outlay 750 750 2,222 (1,472) (1,472)
73,672 73,672 68,897 4,775 4,775
Total 73,672 73,672 68,897 4,775 4,775
PARKS AND RECREATION
Administration
Personal services 35,800 35,800 38,051 (2,251) (2,251)
Contractual services 4,300 4,300 2,473 1,827 1,827
Commodities 1,200 1,200 945 255 255
Other charges 175 175 258 (83) (83)
Capital outlay 1,200 1,200 1,067 133 133
42,675 42,675 42,794 (119) 133 252)
Classes
Personal services 8,600 8,600 14,815 (6,215) (6,215)
Commodities 300 300 97 203 203
8,900 8.900 14,912 (6,012) (6,012)
Activities
Personal services 24,670 24,670 19,897 4,773 4,773
Contractual services 875 875 432 443 443
Commodities 1,225 1,225 1,356 (131) (131)
Other chargee 1,020 1,020 1,235 (215) (215)
27,790 27,790 22,920 4,870 4,870
Skating rinks
Personal services 5,265 5,265 4,854 411 411
Commodities 375 375 18 357 357
5,640 5,640 4,872 768 768
11
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve for
Appropriations encumbrances Encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance December 31, 1970 balance
PARKS AND RECREATION (continued)
Beach
Personal services $ 7,770 $ $ 7,770 $ 9,798 $ (2,028) $ $ (2,028)
Contractual services 100 100 115 (15) (15)
Commodities 300 300 578 (278) (278)
8,170 8,170 10,491 (2,321) (2,321)
Swimming instructions
Personal services 15,000 15,000 13,326 1,674 1,674
Commodities 700 700 144 556 556
15,700 15,700 13,470 2,230 2,230
Playgrounds
Personal services 16,950 16,950 15,919 1,031 1,031
Commodities 2,250 2,250 1,627 623 623
Other charges 2,725 2,725 3,248 (523) (523)
21,925 21,925 20,794 1,131 1,131
Parks
Personal services 40,000 40,000 39,145 855 855
Contractual services 5,700 5,700 7,354 (1,654) (1,654)
Commodities 7,100 7,100 7,241 (141) (141)
Capital outlay 20,000 11,806 31,806 32,667 861) (861)
72,800 11,806 84,606 86,407 (1,801) (1,801)
Total 203,600 11,806 215,406 216,660 (1,254) 133 (1,387)
1.
CITY OF HOPKINS, MINNESOTA
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH AUTHORIZATIONS
YEAR ENDED DECEMBER 31, 1970
Authorizations
Reserve for Encumbrances
Appropriations encumbrances
(after outstanding Unexpended outstanding Unencumbered
revisions) January 1, 1970 Total Expenditures balance December 31, 1970 balance
UNALLOCATED EXPENSE
Retirement $ 94,800 $ 3,401 $ 98,201 $ 118,930 $(20,729) $ $(20,729)
Insurance
28,300 28,300 27,706 594 594
Rental properties 870 870 1,315 (445) -(445)
Non-departmental 6,000 6,000 4,169 1,831 1,831
Contractual services 20,758 13,389 849 12,540
Other charges 33,300 847 34,147 24,927 15,220 849 14,371
39,300 847 40,147
Total 163,270 4,248 167,518 172,878 (5,360) 849 (6,209)
Grand total $1,356,828 $264,131 $1,620,959 $1,598,522 $ 22,437 $101,584 $ 79 147)
13
CITY OF HOPKINS , MINNESOTA
PARK BOND CONSTRUCTION FUND
ANALYSIS OF CHANGES IN RESERVE
YEAR ENDED DECEMBER 31, 1970
Balance, January 1, 1970 $(50, 618)
Funds received from
Proceeds of bond issue of July 1, 1970 $200, 000
Less bond consultant and agent costs 658
199, 342
Collection of general property taxes 23, 181
Grant from State of Minnesota 19 ,413 241,936
191, 318
Funds applied to:
1970 land acquisition and building
construction costs 79,841
Balance, December 31, 1970 $111,477
14
CITY OF HOPKINS , MINNESOTA
STATE AID STREET CONSTRUCTION FUND
ANALYSIS OF CHANGES IN RESERVE
YEAR ENDED DECEMBER 31, 1970
Balance, January 1, 1970 $ 50, 630
1970 allotment from State of Minnesota 74, 514
Deduct funds applied to: 125 , 144
Street construction 35, 524
Balance, December 31, 1970 $ 89, 620
15
-
-
-
CITY OF HOPKINS , MINNESOTA
PERMANENT IMPROVEMENT
REVOLVING FUND
-
16
CITY OF HOPKINS , MINNESOTA
PERMANENT IMPROVEMENT REVOLVING FUND
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
Cash $ 272,642
Temporary investments , at cost 246 , 510
Accrued interest receivable on investments 4, 101
Special assessments receivable:
Deferred $1, 127,270
Unremitted from the county 1, 611 1, 128 ,881
Due from other funds 22 , 773
Authorized construction to be assessed 881,888
To be provided for authorized construction 109 ,462
To be provided for debt retirement 102 ,000
$2, 768 ,257
LIABILITIES, RESERVES AND FUND BALANCE
Liabilities
Accounts payable $ 23 ,946
Contracts payable 26,080
Interest payable 102 , 000
Bonds payable 800,000
952,026
Reserves
Unexpended authorizations 616,665
Fund balance
Fund principal $ 830,000
Unappropriated 369, 566 1, 199 ,566
$2, 768 , 257
17
CITY OF HOPKINS , MINNESOTA
PERMANENT IMPROVEMENT REVOLVING FUND
ANALYSIS OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1970
UNAPPROPRIATED FUND BALANCE
Balance, January 1, 1970 $237 , 184
Additions :
Delinquent assessments collected $ 4, 284
Interest on 1970 assessments 149 , 703
Accrued interest on bonds sold 102,000 255, 987
493 , 171
Deductions :
Uncollected 1970 assessments 6, 191
Transfer to general fund of interest
collected on assessments 7,989
Bond sale costs 1, 652
Bond payments 60,000
Fiscal agent fees 1, 133
Interest loss on prepaid assessments 46, 640 123, 605
$369, 566
-
-
18
CITY OF HOPKINS, MINNESOTA
PERMANENT IMPROVEMENT REVOLVING FUND
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND AMOUNTS ASSESSED
YEAR ENDED DECEMBER 31, 1970
Appropriations Expenditures Payment in Unexpended
December 31, Prior Current Year lieu of Assessed balance
1970 years construction overhead Total assessment 1970 December 31, 1970
Curbs, gutters and
driveways $ 33,291 $ 15,496 $ 11,346 $ 2,453 $ 29,295 $ 908 $ 24,802 $ 29,706
Alley construction 113,566 9,977 1,197 11,174 102,392
Street construction 122,259 35,104 26,592 1,610 63,306 35,523 19,087 113,562
Street surfacing 98,538 579 84,943 609 86,131 398 12,805
Water mains 125,005 217,707 150,337 15,838 383,882 136,672 112,291 (17,407)
Sewer construction 103,922 71,001 60,443 (695) 130,749 78,522 51,695
Storm sewers 48,980 117,475 28,158 6,407 152,040 74,207 50,040 21,188
Street lights 23,776 719 719 23,057
Parking lots 322,014 42,347 42,347 279,667
$991,351 $500,428 $371,796 $ 27,419 $899,643 $247,708 $284,742 $616,665
15
CITY OF HOPKINS , MINNESOTA
PERMANENT IMPROVEMENT REVOLVING FUND
ANALYSIS OF ASSESSMENTS RECEIVABLE
YEAR ENDED DECEMBER 31, 1970
Balance, January 1, 1970 $ 971,489
Additions :
Assessed in 1970
Construction $284, 742
Interest 149 ,325
434, 067
Less cost of improvements of
city owned property 828 433,239
1,404, 728
Deductions :
Current year 's receivables
Payments received $133,989
Transferred to delinquent
assessments receivable 1, 611 135 , 600
Prepayments
Principal 89, 027
Interest 46, 640 135, 667
Delinquent assessments 6, 191 277 ,458
_
Balance, December 31, 1970 $1, 127 , 270
20
CITY OF HOPKINS , MINNESOTA
SPECIAL ASSESSMENT FUND
L, 21
CITY OF HOPKINS , MINNESOTA
SPECIAL ASSESSMENT FUND
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
Cash $ (401)
Cash on deposit with fiscal agents 2, 185
Special assessments receivable
Deferred $ 21, 023
Unremitted from the county 35 21, 058
$ 22,842
LIABILITIES AND FUND BALANCE
Liabilities
Matured bonds and interest payable $ 2, 185
Due to other funds 2 , 613
Interest payable 600
Bonds payable 8 , 000
— 13, 398
Fund balance
Unappropriated 9 ,444
$ 22,842
22
CITY OF HOPKINS , MINNESOTA
SPECIAL ASSESSMENT FUND
DECEMBER 31, 1970
ANALYSIS OF CHANGES IN FUND BALANCE
UNAPPROPRIATED FUND BALANCE
Balance January 1, 1970 $ 20,821
Additions :
Delinquent assessments paid 708
Deductions : 21, 529
Fiscal agent charges and loss of
interest on prepaid assessments $ 85
Transfer to general fund 12,000 12, 085
Balance December 31, 1970 $ 9 ,444
ANALYSIS OF ASSESSMENTS RECEIVABLE
Balance January 1, 1970 $ 28 ,080
Deductions :
Remitted from county $ 7,415
Adjust to agree with county (393)
Transfer to delinquent assessments
receivable 35 7, 057
Balance December 31, 1970 $ 21, 023
—
ANALYSIS OF BONDS AND INTEREST PAYABLE
Bonds Interest
payable payable
Balance January 1, 1970 $ 10, 000 $ 900
Remitted to fiscal agents 2, 000 300
Balance December 31, 1970 $ 8 ,000 $ 600
23
CITY OF HOPKINS , MINNESOTA
BOND RETIREMENT FUND
24
CITY OF HOPKINS , MINNESOTA
BOND RETIREMENT FUND
DECEMBER 315 1970
BALANCE SHEET
— ASSETS
Cash $ 1, 549
Cash on deposit with fiscal agents 47 ,940
Due from other funds 1,409 ,891
To be provided for debt retirement 287,263
$1, 746 , 643
LIABILITIES AND FUND BALANCE
Liabilities
Matured bonds and interest payable $ 47 ,940
Interest payable 454, 648
Bonds payable 11230, 000
1, 732 ,588
Fund balance
Unappropriated 14, 055
$1, 746, 643
ANALYSIS OF CHANGES IN FUND BALANCE
UNAPPROPRIATED FUND BALANCE
Balance January 1, 1970 $ 14, 084
Deductions :
-- Fiscal agent charges 29
Balance December 31, 1970 $ 142055
s
25
CITY OF HOPKINS , MINNESOTA
BOND RETIREMENT FUND
ANALYSIS OF BONDS AND INTEREST PAYABLE
DECEMBER 31, 1970
Bonds Interest
payable -payable
Balance, January 1, 1970 $1, 095, 000 $ 408 , 560
Additions :
Park bond issue of July 1, 1970 200,000 87 ,263
1, 295, 000 495,823
Deductions :
Paid in 1970 651000 411175
— Balance, December 31, 1970 $1,230, 000 $ 454, 648
Park Water P. I.R.
7-1-70 6-1-67 4-1-64 Total
Funds to be provided for:
Bonds $ 200, 000 $ 835, 000 $ 195,000 $1,230, 000
Interest 87, 263 3362210 31, 175 4543, 648
$ 287 ,263 $1, 171, 210 $ 226, 175 $1,684, 648
Funds to be provided by:
Permanent improvement
revolving fund (Note 1) $ $ $ 226, 175 $ 226, 175
Water utility fund 1, 171, 210 1, 1715210
General fund 287, 263 287 ,263
$ 287, 263 $1, 171,210 $ 226, 175 $1, 684, 648
Note 1 : Payments to be made as needed for the retirement
of bonds and interest.
26
CITY OF HOPKINS , MINNESOTA
TRUST AND AGENCY FUNDS
27
CITY OF HOPKINS , MINNESOTA
TRUST AND AGENCY FUNDS
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
Cash $ 1 , 191
$ 1, 191
RESERVES
Library fund $ 877
Recreation 639
Police employees 325)
$ 1, 191
STATEMENT OF RECEIPTS AND DISBURSEMENTS
YEAR ENDED DECEMBER 31, 1970
Balance, January 1, 1970 $ 2, 723
Receipts :
Recreation $ 15500
Teen activities 540 2, 040
4, 763
Expenditures :
Personal services 410
Contractual services 1, 582
Commodities 1, 209 3, 572
Capital outlay
Balance, December 31 , 1970 $ 11191
28
CITY OF HOPKINS , MINNESOTA
WATER UTILITY FUND
29
CITY OF HOPKINS , MINNESOTA
WATER UTILITY FUND
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
CURRENT ASSETS
Cash $ 23,054
Cash on deposit with fiscal agents 2, 687
Temporary investments , at cost 200, 000
Accrued interest receivable on investments 3, 524
Accounts receivable 19 , 080
Inventories 6, 254
Total current assets 254,599
FIXED ASSETS
Land $ 15 , 097
Wells , tanks , mains , meters and
equipment (net of depreciation) 2, 195, 662 25210, 759
OTHER ASSETS
To be provided for debt retirement 1, 171, 210
$3 , 636,568
LIABILITIES, RESERVES AND FUND BALANCE
CURRENT LIABILITIES
Accounts payable $ 15,445
Matured bonds and interest payable 2 , 687
Sales tax payable 390
Bonds and interest payable-current portion 27 , 721
Total current liabilities 46, 243
LONG-TERM DEBT
Bonds payable $ 132,000
Interest payable 15,694
147,694
Less current portion 27 , 721
119 ,973
Due to other funds 1, 215,931 1,335,904
RESERVES
Change fund 100
Inventories 6,254
Sinking fund-water revenue bonds 74, 200
Funds in trust 80 80, 634
FUND BALANCE
'- Customer contributions and investment
in fixed assets 2 ,063,066
Current 110, 721 2 , 173, 787
$3, 636, 568
30
CITY OF HOPKINS , MINNESOTA
WATER UTILITY FUND
ANALYSIS OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1970
—
CUSTOMER CONTRIBUTIONS AND INVESTMENT
IN FIXED ASSETS
Balance, January 1, 1970 $1, 971 ,638
Additions :
Acquisition of fixed assets by
bond retirement $ 28 , 538
Acquisition of fixed assets
through current revenue 121662
Customer contributions through
special assessments 112,291 153,491
2, 125, 129
Deductions :
Depreciation 62 ,063
Balance, December 31, 1970 $2, 063, 066
UNAPPROPRIATED
_ Balance, January 1, 1970 $ 148 , 225
Additions :
Net income (loss) $ (17,095)
Add back depreciation charged to
investment in fixed assets 62, 063
Inventory adjustment 4,632 49 , 600
197 ,825
— Deductions :
Transfer to general fund 21,450
Fixed assets purchased from revenue 12, 662
Revenue bonds retired 52 ,850
Fiscal agent charges 142 87 , 104
Balance, December 31, 1970 $ 110, 721
—
31
CITY OF HOPKINS, MINNESOTA
WATER UTILITY FUND
STATEMENT OF INCOME AND EXPENSE
YEAR ENDED DECEMBER 31, 1970
REVENUE
Water sales $200, 197
Less allocated to sewer fund 302030
170, 167
Customer services 3, 306
173,473
EXPENSES
Operating expense
General and administrative
Personal services $ 7 ,872
Contractual services 2, 262
Commodities 5, 626
Other charges 7 , 604
Pumps and wells 233364
Personal services $ 13, 387
Contractual services 28 ,988
Commodities 5 , 397 47, 772
Distribution system
Personal services 21, 776
Contractual services 1, 163
Commodities 1,508 24,447
95 ,583
Depreciation 62, 063
Interest expense 40,538 198 , 184
OPERATING INCOME (LOSS) (24, 711)
INCOME CREDITS (CHARGES)
Interest earned on investments 7, 616
NET INCOME (LOSS) $117, 095)
32
w
CITY OF HOPKINS , MINNESOTA
WATER UTILITY FUND
w FIXED ASSETS
DECEMBER 31, 1970
w Balance Balance
January 1, December 31,
1970 Additions Deductions 1970
FIXED ASSETS
Land $ 15, 097 $ $ $ 15 , 097
Wells , tanks and
mains 2,566, 158 118 ,502 2 , 684, 660
Meters 24,857 3, 189 28 ,046
Equipment 322154 3, 262 35 ,416
$2, 638 ,266 $124,953 $ $2, 763, 219
w
ACCUMULATED DEPRECIATION
Wells , tanks and
mains $ 4612249 $ 55,490 $ $ 516, 739
w
Meters 13,805 2,805 16 , 610
Equipment 15, 341 3, 768 19, 109
$ 490,395 $ 62,063 $ $ 5522458
w
33
CITY OF HOPKINS, MINNESOTA
SEWER UTILITY FUND
34
CITY OF HOPKINS , MINNESOTA
SEWER UTILITY FUND
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
CURRENT ASSETS
Cash $ (45 , 102)
Temporary investments , at cost 897 , 094
Accrued interest receivable on investments 15, 792
Accounts receivable 8 , 197
Due from other funds 6 , 249
Total current assets 882 , 230
FIXED ASSETS
Land $ 5, 150
Pumps , tanks , mains and equipment
(net of depreciation) 1,216, 248 1, 221, 398
OTHER ASSETS
To be provided for debt retirement 1,434, 088
Prepaid expense 1,824 1,435, 912
$3, 539 ,540
LIABILITIES, RESERVES AND FUND BALANCE
CURRENT LIABILITIES
Accounts payable $ 115 , 053
-- Bonds and interest payable-current portion 49,525
Total current liabilities 164, 578
LONG-TERM DEBT
Bonds payable $ 850, 000
Interest payable 584, 088
y- 1,434,088
Less current portion 49,525 1 , 384,563
RESERVES
Unexpended appropriations 580, 658
Encumbrances 31,426 612, 084
FUND BALANCE
Customer contributions and investment in
fixed assets 1,221, 398
Current 156,917 113783315
$3 ,539, 540
35
CITY OF HOPKINS , MINNESOTA
SEWER UTILITY FUND
ANALYSIS OF CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1970
—
CUSTOMER CONTRIBUTIONS AND INVESTMENT
IN FIXED ASSETS
Balance, January 1, 1970
$1, 186 ,849
Additions :
Acquisition of fixed assets
through current revenue $ 2, 712
Customer contributions through
special assessments 78 ,522 81, 234
Deductions :
1, 268 , 083
Depreciation 46, 685
Balance, December 31, 1970 $1, 221, 398
UNAPPROPRIATED
Balance, January 1, 1970 $ 115 , 307
Additions :
Net income $ 17,387
Add back depreciation charged to
investment in fixed assets 46, 685 64, 072
Deductions : 179, 379
Transfer to general fund 19 , 750
Fixed assets purchased from revenue 2 , 712 22 ,462
Balance, December 31, 1970 $ 1562917
-
-
36
—
CITY OF HOPKINS ) MINNESOTA
SEWER UTILITY FUND
STATEMENT OF INCOME AND EXPENSE
YEAR ENDED DECEMBER 31, 1970
—
REVENUE
Customer service charges $109, 586
Water utility fund transfer 30, 030
Connection charges 11, 758
— 151,374
EXPENSES
Operating expense
General and administrative
Personal services $ 8 ,016
— Contractual services 1, 602
Commodities 861
Other charges 6, 167
—
Lift stations 16, 646
Personal services $ 13, 609
Contractual services 11,362
Commodities 3,921 28 ,892
Mains and disposals
Personal services 6,219
Contractual services 53,521
Commodities 886 60, 626
—
Depreciation 46,685 152 ,849
OPERATING INCOME (LOSS) (1,475)
—
INCOME CREDITS
Interest earned on investments 18 ,862
NET INCOME $ 172387
-
-
-
37
CITY OF HOPKINS , MINNESOTA
SEWER UTILITY FUND
FIXED ASSETS
DECEMBER 31, 1970
Balance Balance
January 1, December 31,
—
1970 Additions Deductions 1970
FIXED ASSETS
Land $ 5, 150 $ $ $ 5, 150
Pumps , tanks and
mains 1,675, 106 79,322 1, 754,428
Equipment 34, 657 1,912 36,569
$1, 714,913 $ 81, 234 $ $1, 796, 147
ACCUMULATED DEPRECIATION
'—
Pumps , tanks and
mains $ 509, 290 $ 42,883 $ $ 552, 173
Equipment 18 , 774 3,802 22,576
$ 528 ,064 $ 46,685 $ $ 574, 749
-
-
—
38
-
-
-
CITY OF HOPKINS , MINNESOTA
'- GENERAL FIXED ASSETS
-
-
39
CITY OF HOPKINS, MINNESOTA
GENERAL FIXED ASSETS
BALANCE SHEET
DECEMBER 31, 1970
ASSETS
FIXED ASSETS
Land $ 907 ,867
Structures 893, 674
Other improvements 3, 141,489
Equipment 684,225
Joint assets held with Village of Minnetonka 1, 191
$5, 628 ,446
FUND BALANCE
Fund balance
Investment in fixed assets $5 , 628 ,446
-
Other
Total Land Structures improvements Equipment
General
government $ 853, 353 $226, 169 $570,564 $ 818 $ 55,802
Public safety 171,886 171,886
�. Engineering
and streets 3, 092,583 175, 737 9, 000 2, 705, 774 202,072
Sanitation and
waste disposal 611, 302 117, 151 18,400 395, 117 80, 634
Libraries 349 ,809 52, 510 217,314 79, 985
Recreation and
parks 548 , 322 336, 300 78,396 39, 780 93,846
Jointly held
assets 1, 191 1, 191
$5, 628 ,446 $907,867 $893,674 $3, 141,489 $ 685,416
-
40
CITY OF HOPKINS , MINNESOTA
COMBINED SECTION
41
CITY OF HOPKINS, MINNESOTA
FUND BALANCE SHEETS
DECEMBER 31, 1970
General General
and special Permanent Special Bond Trust Water Sewer fixed
Total revenue improvement assessments retirement and agency utility utility assets
ASSETS
Cash $ 537,909 $ 284,976 $ 272,642 $ (401) $ 1,549 $ 1,191 $ 23,054 $ (45,102) $
Cash deposited with fiscal agents 52,812 2,185 47,940 2,687
Temporary investments, at cost 1,677,912 334,308 246,510 200,000 897,094
Accrued interest receivable on
investments 27,355 3,938 4,101 3,524 15, 92
Accounts receivable 61,395 34,118 19,080 8,1197
Mortgage receivable 149,781 149,781
Special assessments receivable
Deferred 1,148,293 1,127,270 21,023
Delinquent 1,646 1,611 35
Due from other funds 1,438,913 22,773 1,409,891 6,249
Inventories 7,984 1,730 6,254
Authorized construction to be
assessed 881,888 881,888
Amounts to be provided for
construction 109,462 109,462
Amounts to be provided for
debt retirement 3,039,771 45,210 102,000 287,263 1,171,210 1,434,088
Amounts to be provided for
property purchases 41,219 41,219 1,824
Prepaid expenditures 3,144 1,320
Fixed assets (net of depreciation) 9,060,603 2,210,759 1,221,398 5,628,446
$18.240,087 $ 896,600 $2,768.257 $ 22,842 $1,746,643 $ 1,191 $3,636,568 $3,539.540 $5,628,446
42
CITY OF HOPKINS, MINNESOTA
FUND BALANCE SHEETS
DECEMBER 31, 1970
General
General
and special Permanent Special Bond Trust Water Sewer fixed
Total revenue improvement assessments retirement and agency utility utility assets
LIABILITIES, RESERVES, AND FUND BALANCES
Liabilities288,234 $ 133,790 $ 23,946 $ $ $ $ 15,445 $ 115,053 $
Accounts payable $
Matured bonds and interest 52,812 2,185 47,940 2,687
payable 2,613 1,215,931
Due to other funds 1,438,911 220,367
Due on contract for deed 15,788 15,788 26,080
Contracts payable 26,080 600 454,648 15,694 584,088
Interest payable 1,157,030 102,000
Bonds payable 3,020,000 800,000 8,000 1,230,000 132,000 850,000
390
Sales tax payable 390
5,999,245 369,945 952,026 13,398 1,732,588 1,382,147 1,549,141
Reserves 31,426
Encumbrances 133,010 101,584
Mortgage receivable 149,781 149,781
Unrealized revenue 37,431 37,431 100
Imprest cash 280 180 6,254
Inventories 7,984 1,730 580,658
Unexpended appropriations 1,398,420 201,097 616,665
Retirement of bonds and 74,200
interest 74,200 1,191 80
Funds in trust 1,271
80,634 61
1,802,377 491,803 616,665 1,191 2,084
Fund balances
830,000 830,000 2,063,066 1,221,398 5,628,44
Fund principalInvestment in fixed assets 8,912,910 110,721 156,917
Current 267,638
Unappropriated 427,917 34,852 369,566 9,444 14,055
10,438,465 34,852 1,199,566 9,444 14,055 2,173,787 1,378,315 5,628,44
$18,240,087 $ 896,600 $2,768,257 $ 22,842 $1,746,643 $ 1,191 $3,636,568 $3,539,540 $5,628,44
4
CITY OF HOPKINS , MINNESOTA
INVESTMENTS
DECEMBER 31, 1970
Cost plus
Face accrued
Description Maturity amount discount
United States Treasury Bills April 22, 1971 $ 290,000 $ 279 ,418
United States Treasury Bills September 30, 1971 50,000 47 ,094
Certificates of Deposit:
First National Bank of
Hopkins January 7, 1971 200, 000 200, 000
Northwestern National Bank
of Hopkins January 23, 1971 146,000 146, 000
First National Bank of
Hopkins April 4, 1971 200, 000 200,000
First National Bank of
Hopkins April 8 , 1971 800, 000 800,000
Bonds :
Hopkins Housing and
Redevelopment Authority January 29, 1971 5 ,400 5 ,400
$1,691,400 $1, 677,912
_ ALLOCATION BY FUNDS
General $ 334, 308
Permanent improvement 246,510
Water utility 200,000
Sewer utility 897 ,094
$1, 677,912
44
CITY OF HOPKINS , MINNESOTA
ANALYSIS OF BONDS AND INTEREST PAYABLE
DECEMBER 31, 1970
Balance Balance
January 1, December 31,
— 1970 Issued Retired 1970
BONDS PAYABLE
General bonds $1, 095, 000 $ 200, 000 $ 65, 000 $1,230, 000
Permanent improvement
revolving 400, 000 400, 000 800, 000
Special assessments 10, 000 2,000 8 , 000
Water revenue 155, 000 23, 000 132, 000
Sewer revenue 850, 000 850, 000
$1,660,000 $1,450, 000 $_90.,000 $3, 020, 000
INTEREST PAYABLE
General bonds $ 408 , 560 $ 87 ,263 $ 41, 175 $ 454,648
Permanent improvement
_ revolving 63,000 60,000 21,000 102, 000
Special assessments 900 300 600
Water revenue 21,232 5,538 15 , 694
Sewer revenue 584,088 584, 088
$ 493,692 $ 731, 351 $ 68 ,013 $1, 157, 030
45
CITY OF HOPKINS , MINNESOTA
GENERAL
47
CITY OF HOPKINS, MINNESOTA
BONDS AND INTEREST PAYABLE
DECEMBER 31, 1970
Funds
Bond retirement
general obligation Special Sewer
permanent improvement Permanent improvement assessment Water utility utility
BONDS PAYABLE Date Total revolving revolving improvement revenue revenue
Date of issue 7-1-70 6-1-67 4-1-64 9-1-70 8-1-69 6-1-54 6-1-54 6-1-57 7-1-7(
Annual maturities
and interest dates January 1 December 1 April 1 September 1 August 1 December 1 December 1 June 1 July 1
Bonds authorized
and issued $200,000 $900 000 $400 000 $400,000 $400,000 $275,000 $225,000 $200 000 $850,00(
Interest rate 5.00%-6.00% 3.90%-4.20% 2.60%-3.20% 5.007 5.25% 2.80%-3.00% 2.50%-3.00% 4.00%-4.50% 5.00%-6.5(
1971 $ 80,000 $ $ 35,000 $ 20,000 $ $ $ 2,000 $ 13,000 $ 10,000 $
1972 535,000 10,000 40,000 20,000 400,000 2,000 13,000 10,000 40,000
1973 535,000 10,000 40,000 20,000 400,000 2,000 13,000 10,000 40,00[
1974 140,000 15,000 40,000 20,000 2,000 13,000 10,000 40,00(
1975 135,000 15,000 40,000 20,000 20,000 40,00(
1976 135,000 15,000 40,000 20,000 20,000 40,000
1977 125,000 15,000 50,000 20,000 40,00(
1978 130,000 20,000 50,000 20,000 40,OOC
1979 120,000 20,000 50,000 10,000 40,00(
1980-84 570,000 80,000 250,000(b) 25,000(a)(b) 215,OOC
1985-88 380,000 200,000(b) 215,OOC
1989-91 135.000 135,00C
$3.020.000 $2QQ.-Q0 $400.000
1971 $ 145,705 $ 11,050 $ 33,590 $ 5,580 $ 20,000 $ 21,000 $ 240 $ 1,345 $ 3,375 $ 49,525
1972 141,519 10,800 32,120 5,000 20,000 21,000 180 969 2,925 48,525
1973 114,865 10,300 30,440 4,420 20,000 120 585 2,475 46,525
1974 89,200 9,675 28,880 3,840 60 195 2,025 44,525
1975 83,311 8,906 27,320 3,260 1,350 42,475
1976 77,364 8,119 25,760 2,660 450 40,375
1977 71,778 7,313 24,200 2,040 38,225
1978 65,995 6,350 22,200 1,420 36,025
1979 60,230 5,250 20,200 955 33,825
1980-84 215,575 9,500 71,000 2,000 133,075
1985-88 78,325 20,500 57,825
1989-91 13,163 13,163
$1.157.030 $ 87.263 $336..210 $ 31.175 $ 60 QQQ $ 000 $ 600 $ 3.094 $ 12.600 $584.088
(a) Bonds maturing April 1, 1980
and thereafter are callable at par
(b) Payable in equal annual installments
46
CITY OF HOPKINS, MINNESOTA
SECURITY FOR DEPOSITS
DECEMBER 31, 1970
Deposits Security for deposits
Principal
First National Bank of Hopkins Book Bank amount Description Due date
Checking account, regular $ (154,953) $ 105,960 $ 250,000 United States Treasury Notes August 15, 1974
Certificates of deposit 1,200,000 1,200,000 100,000 United States Treasury Notes February 15, 1975
126,000 United States Treasury Notes May 15, 1975
525,000 United States Treasury Bonds of 1967 September 15, 1972
325,000 United States Treasury Bonds of 1967 September 15, 1972
200,000 United States Treasury Bonds of 1974 May 15, 1974
200,000 United States Treasury Bonds of 1978 June 15, 1983
20,000 Prince Georges County Maryland Bonds March 1, 1977
Cook County Illinois School
20,000 District 225 Bonds December 1, 1978
Lake County Illinois School
20,000 District 109 Bonds December 1, 1978
Pittsburgh, Pennsylvania Housing
40,000 Authority Municipal Bonds December 1, 1978
$ .045.047 $ $ .826.000
48
CITY OF HOPKINS, MINNESOTA
SECURITY FOR DEPOSITS
DECEMBER 31, 1970
_ Deposits
Securityfor deposits
Northwestern National Bank of Hopkins Book Principal
Bank amount Description
Checking account, payroll Due date
$ 500 $ 19,150 $ 30,000 Eastern Montana College Education Building Fee Jul 1, 1983
Checking account, special assessments
and bond retirement Grant County Washington Public Utility y
1,148 1,148 25,000 District 2
Savings accounts 515,383 515,383 January 1, 1981
Certificates of deposit 146,000 146,000 Lake Tahoe, California Unified School
25,000 District Series A January 1, 1972
Maricopa County Arizona School
50,000 District 205 Series A July 1, 1975
Wadena Todd Counties, Minnesota
25,000 School District 818 January 1, 1982
Cape Canaveral, Florida Sanitary
25,000 Sewer Revenue February 1, 1982
25,000 Clark County Nevada School District February 1, 1977
East Baton Rough Parish Louisiana
90,000 Housing Authority August 1, 1986
Golden Valley, Minnesota Improvement
25,000 Bond February 1, 1976
25,000 Las Vegas, Nevada Off Street Parking Revenue February 1, 1979
60,000 Madison, Wisconsin Housing Authority March 1, 1991
McLeod, Renville, Meeker Counties
30,000 Minnesota School District 423 March 1, 1982
Anaheim, California Stadium, Inc.,
30,000 Lease Rental Bond October 1, 1985
Bloomington, Minnesota Permanent
25,000 Improvement Revolving Series 7 April 1, 1974
20,000 Sunnydale,California Municipal Improvement Series A October 1, 1977
Wayne County Michigan Metropolitan Water Supply
25,000 Systems Board Series 2 April 1, 1993
Wayne County Michigan Metropolitan Sewage
25,000 Disposal System Series 3 April 1, 1g,)14'
Cabrillo, California Unified School
55,000 District Series B November 1, 1988
25,000 Kittson County Minnesota Courthouse Bond May 1, 1981
45.000 Chula Vista, California Golf Course December 15, 1991
$
"0 $ 81.681 $gg
4
CITY OF HOPKINS , MINNESOTA
OFFICIAL BONDS
DECEMBER 31, 1970
Bond
Surety, position and name Amount Expires
Western Surety Company
Assessors
Joseph A. Hromadko $ 1, 000 August 1, 1972
Clifford R. Peterson 1,000 August 1, 1972
General Insurance Company of America
City treasurer 40,000 January 2 , 1971
Assistant city treasurer 25,000 January 2, 1971
City manager 105000 January 2, 1971
Clerk cashier 5, 000 January 2, 1971
General Insurance Company of America
All city employees not otherwise
required by law to be specifically
bonded 2,500 January 1, 1971
50
CITY OF HOPKINS , MINNESOTA
INSURANCE IN FORCE
DECEMBER 31, 1970
PUBLIC AND INSTITUTIONAL PROPERTY FORM
Vandalism and malicious mischief
Fire and extended coverage
90% Co-insurance buildings and contents
$100 deductible for all perils except fire
Total value of buildings $1,465,900
Total value of contents $ 472,500
PUBLIC AND INSTITUIONAL PROPERTY FORM
Park Shelter Building, Burnes Park
Vandalism and malicious mischief
Fire, lightning and extended coverage
90% Co-insurance building
$100 deductible for all perils except fire
Total value of building $19,800
FLEET LIABILITY INSURANCE
Comprehensive automobile liability
Collision on cars - actual value less $150 deductible
Bodily injury $250,000/750,000
Property damage $30,000
WORKMEN'S COMPENSATION
Statutory coverage
BOILER EXPLOSION
Municipal building and public library
$250, 000
VOLUNTEER FIREMEN'S ACCIDENT POLICY
Accident and indemnity
$50 weekly benefit
$5,000 maximum
COMPREHENSIVE GENERAL LIABILITY INSURANCE
Construction
Premises
Bodily injury $250, 000/750, 000
Property damage $250,000/750,000
Operations
Bodily injury $250, 000/750,000
Property damage $500, 000/500,000
51
CITY OF HOPKINS, MINNESOTA
ORGANIZATION
DECEMBER 31, 1970
Term
expires
June 30
Mayor Henry Pokorny 1971
Councilmen : Warner P. Blake 1971
Robert P. Harriman 1971
Paul R. Lund 1973
Jerre A. Miller 1973
City Manager and Treasurer Terry L. Novak
City Clerk and Deputy Treasurer Clifford R. Peterson
City Attorney Joseph C. Vesely
City Engineer and Director of
Public Works John J. Strojan
Assessor Clifford R. Peterson
Deputy Assessor and Purchasing
— Agent Joseph A. Hromadko
Finance Officer Dennis M. Baldwin
Building Inspector and Zoning
Administrator Clinton K. Blomquist
— Housing Inspector Firmus J. Opitz
Health Officer Dr. Herman E. Drill
Health Sanitarian Robert A. Mood
Director, HRA George E. Howell
Police Superintendent William F. Proetz
Fire Chief Leroy A. Olson
Assistant Engineer and Civil
Defense Director Gordon P. Anderson
Street Superintendent Verlyn J. Sletten
Water and Sewer Superintendent John A. Brecka
Weed Inspector Robert G. Anderson
Electrical Inspector William C. Whitney
Librarian Mrs . Joan M. Allard
Recreation Director Richard L. Wilson
Commissions :
Board of Health Dr. H. E. Drill 1971
William F. Proetz 1971
Mrs . Martin N. Hagen 1972
Mrs . Floyd M. Alcott 1972
Paul R. Lund, Councilman 1971
52
CITY OF HOPKINS , MINNESOTA
ORGANIZATION
DECEMBER 31, 1970
Term
expires
(continued) June 30
Library Board Mrs . William L. Sprague 1972
Mrs . Robert M. Geltman 1972
Waldo R. Peterson 1971
Joseph C. Vesely 1972
Mrs . Robert W. Sawyer 1971
Gerald J. Mashek 1971
Henry Pokorny, Mayor 1971
Police Civil Service Commission John F. Hance 1972
Howard S. Marker 1972
Cecil M. Kloss 1972
Recreation Commission Eugene F. Reilly 1972
Mrs . Philip W. Hovander 1971
James W. Murphy 1972
Parks Commission James W. Murphy 1971
Mrs . Philip W. Hovander 1971
Eugene F. Reilly 1971
Albin V. Stang 1971
Jerre A. Miller, Councilman 1971
Zoning and Planning Commission Dr. Paul G. Slaton 1971
Joseph E. Hussey 1971
Paul W. Lohmann 1971
James C. Shirley 1972
Dr. A. H. Malerich, Jr. 1972
Stanley J. Sidla 1972
_ Warner P. Blake 1971
Clinton K. Blomquist)
Terry L. Novak )
John J. Strojan ) ex-officio
James W. Hawks ) members
Employees ' Advisory Board Clifford A. Robinson
Robert G. Anderson
Edward F. Dukatz
Henry Pokorny, Mayor
53
CITY OF HOPKINS , MINNESOTA
ORGANIZATION
DECEMBER 31, 1970
Term
expires
(continued) June 30
Charter Commission K. Maxfield Otto
John A. Larsen
Richard L. Brubacher
Robert N. Stone
Joseph P. Pierro
Mrs . Roland W. Higgs
Dr. Frank J. Kucera
Mrs . Otto H. Wenzel
Donald J. Milbert
W. Harlan Perbix
Mrs . Russell S. Maetzold
Mrs . Adelyn L. Gordon
Fred C. Stalley
Rev. Lasse J. Stohl
-' Hopkins Housing and
Redevelopment Authority George E. Howell, Director
A. G. Larson
Svante H. Severson
Leonard C. Egge
John T. Pegors
Steven E. Woolley
Human Rights Commission Donald J. Milbert 1972
Willis F. Street 1971
Fred C . Stalley 1972
Donald C. Caroline 1971
Mrs . Wayne N. Hoganson 1972
Rev. Lasse J. Stohl 1971
Sister Jean Funk 1972
Robert P. Harriman 1971
54