1976 City of Hopkins, MN Annual Financial Report REPORT ON AUDIT
As Of December 31, 1976
CITY OF HOPKINS
Hopkins, Minnesota
V
STRAND
& ROE
City of Hopkins
Hopkins , Minnesota
ORGANIZATION
1976
Term
Office Name Expires
MAYOR Jerre A. Miller 6-30-77
COUNCILMEN Robert J. McDonald 6-30-79
Donald J. Milbert 6-30-79
James L. Vassar (Resigned 8-3-76) 6-30-79
Henry Pokorny (Appointed 8-3-76) 6-30-77
Dr. Paul Slaton 6-30-77
CITY MANAGER & TREASURER Peter G. Cotton
CITY CLERK & DEPUTY TREASURER Harold E. Richardson
CITY ATTORNEY Joseph C. Vesely
CITY ENGINEER & DIRECTOR OF
PUBLIC WORKS John J. Strojan
ASSESSOR Harold E. Richardson
DEPUTY ASSESSOR Joseph H. Hromadko
FINANCE OFFICER Chris P. Nielsen
BUILDING INSPECTOR & ZONING
ADMINISTRATOR Raymond Kohnen
HOUSING INSPECTOR Firmus J. Opitz
HEALTH OFFICER Dr. Herman E. Drill
HEALTH SANITATION Robert A. Mood
DIRECTOR, HRA Peter G. Cotton (Acting)
POLICE SUPERINTENDENT Lt. Donald W. Bentley (Acting)
Ovid LaBerge, Appointed 8-30-76
V
FIRE CHIEF Edward Lundgren STRAND
& ROE
ASSISTANT ENGINEER & CIVIL
DEFENSE DIRECTOR Gordon P. Anderson
WATER & SEWER SUPERINTENDENT Tom Cedar
STREET SUPERINTENDENT Verlyn J. Sletten (Resigned 11-22-76)
Clifford Robinson (Appointed 11-22-76)
City of Hopkins
Hopkins , Minnesota
ORGANIZATION (Cont'd)
1976
Term
Office Name Expires
WEED INSPECTOR Robert G. Anderson
ELECTRICAL INSPECTOR William C. Whitney (Retired 10-1-76)
Ed Turner (Appointed 10-1-76)
PUBLIC WORKS OPERATION
DIRECTOR Everett Beecher
RECREATION DIRECTOR Richard L. Wilson
ZONING & PLANNING COMMISSION Alfred Gaskell 6-30-77
James Hance 6-30-77
Howard Marker
Virginia Moll 6-30-77
Susan Morrill 6-30-77
Vern Stefan 6-30-77
David Arnold 6-30-77
Raymond Kohnen )
Peter G. Cotton) Ex-Officio
John J. Strojan) Members
James Hawks ) City Planner
Dr. Paul Slaton, Council Rep.
HOPKINS HOUSING & REDEVELOP-
MENT AUTHORITY Peter G. Cotton, Executive Director (Acting)
A. G. Larson, Chairman
Svante H. Severson
Leonard C. Egge
Grover Hagen
Henry Pokorny
Jerre Miller, Mayor-Council Rep.
OMNIBUS COMMISSION: Dr. Herman E. Drill
Human Rights Albert DeCosse
Housing Code Appeals Board James Griggs
Health & Welfare Richard S . Johnson
Mary Maetzold Po
Jack Noel STRAND
Mary Sundby & ROE
Daniel Ventres
POLICE CIVIL SERVICE James Shirley
COMMISSION Howard S . Marker
Cecil M. Kloss
RECREATION AND PARKS Robert McDonald, Council Rep.
James Justus
Eugenia Arimond
Nancy Ohmann
Craig Clark
City of Hopkins
Hopkins , Minnesota
CONT ENT S
Page
FINANCIAL STATEMENTS:
Auditors' Opinion 1
EXHIBITS:
A - Combined Balance Sheets - All Funds 2
B - Combined Statement of Revenues and Expenditures - Actual
Compared to Budget - General Fund 3
C - Combined Statement of Changes in Financial Position -
Enterprise Funds 4
NOTES TO FINANCIAL STATEMENTS 5 - 6
RECOMMENDATIONS AND COMMENTS 7
SCHEDULES:
A-1 - Combined Schedule of Investments - All Funds 8
A-2 - Due from Other Governmental Units 9
A-3 - Construction Work in Progress 10
A-4 - Bond and Interest Maturities, Means of Financing and
Reserve for Uncollectible Taxes - Summary 11
FUND EXHIBITS:
GENERAL FUND
D - Balance Sheet 12
D-1 - Statement of Changes in Fund Balance 13
D-2 - Statement of Revenue - Actual Compared to Budget 14 - 15
D-3 - Summary of Expenditures Compared with Budget 16
D-4 - Statement of Expenditures Compared with Budget 17 - 23
FEDERAL REVENUE SHARING FUND
E - Balance Sheet 24
E-1 - Statement of Changes in Fund Balance 25
E-2 - Statement of Revenue and Expenditures 26 Po
STRAND
COMMUNITY DEVELOPMENT FUND & ROE
F - Balance Sheet 27
F-1 - Statement of Changes in Fund Balance 28
F-2 - Statement of Revenue and Expenditures 29
BEACH CONCESSION FUND
G - Balance Sheet 30
G-1 - Statement of Changes in Fund Balance 31
G-2 - Statement of Revenue and Expenditures 32
City of Hopkins
Hopkins , Minnesota
CONT E N T S (Cont'd)
Page
FUND EXHIBITS: (Cont'd)
REAL ESTATE PURCHASES AND SALES FUND
H - Balance Sheet 33
H-1 - Statement of Changes in Fund Balance 34
H-2 - Statement of Revenue and Expenditures 35
STORM SEWER FUND
I - Balance Sheet 36
I-1 - Statement of Changes in Fund Balance 37
I-2 - Statement of Revenue and Expenditures 38
PARK GRANT FUND
J - Balance Sheet 39
J-1 - Statement of Changes in Fund Balance 40
J-2 - Statement of Revenue and Expenditures 41
CENTRAL BUSINESS DISTRICT REDEVELOPMENT FUND
K - Balance Sheet 42
K-1 - Statement of Changes in Fund Balance 43
K-2 - Statement of Revenue and Expenditures 44
BOND RETIREMENT FUND
L - Balance Sheet 45
L-1 - Statement of Changes in Fund Balance 46
L-2 - Statement of Revenue and Expenditures 47
SPECIAL ASSESSMENT FUND
M - Balance Sheet 48
M-1 - Statement of Changes in Fund Balance 49
PERMANENT IMPROVEMENT REVOLVING FUND
N - Balance Sheet 50
STRAND
N-1 - Statement of Changes in Fund Balance 51 & ROE
N-2 - Statement of Cash Receipts and Disbursements 52
N-3 - Project Costs and Means of Financing 53
PARK CONSTRUCTION FUND
O - Balance Sheet 54
0-1 - Statement of Changes in Fund Balance 55
0-2 - Statement of Revenue and Expenditures 56
City of Hopkins
Hopkins, Minnesota
CONTENTS (Cont'd)
Page
FUND EXHIBITS: (Cont'd)
MUNICIPAL STATE AID CONSTRUCTION FUND
P - Balance Sheet 57
P-1 - Statement of Changes in Fund Balance 58
P-2 - Statement of Revenue and Expenditures 59
TRAILS END FUND
Q - Balance Sheet 60
Q-1 - Statement of Changes in Fund Balance 61
Q-2 - Statement of Revenue and Expenditures 62
MINNESOTA HOUSING AND FINANCE AGENCY FUND
R - Balance Sheet 63
R-1 - Statement of Changes in Fund Balance 64
R-2 - Statement of Revenue and Expenditures 65
WATER UTILITY FUND
S - Balance Sheets 66
S-1 - Statement of Changes in Contributions/Retained Earnings 67
S-2 - Statement of Revenue and Expense 68
S-3 - Schedule of Operating Expenses 69
S-4 - Summary of Property, Plant and Equipment 70
SEWER FUND
T - Balance Sheets 71
T-1 - Statement of Changes in Contributions/Retained Earnings 72
T-2 - Statement of Revenue and Expense 73
T-3 - Schedule of Operating Expenses 74
T-4 - Summary of Property, Plant and Equipment 75
GENERAL FIXED ASSET GROUP OF ACCOUNTS
U - Statement of Changes in General Fixed Assets - By Class 76 Po
U-1 - Statement of Changes in General Fixed Assets - By Function 76 STRAND
& ROE
GENERAL LANG-TERM DEBT GROUP OF ACCOUNTS
✓ - Statement of General Long-Term Debt 77
SUPPLEMENTARY SCHEDULES:
W-1 - Insurance and Bonds in Force and Prepaid Insurance
and Bonds 78
W-2 - Assessed Valuations, Tax Levies and Mill Rates 79
ROGER R.ROE,C.P.A. JOHN A.LARSEN,C.P.A. ROGER E.BUNKER,C.P.A.
JOE M.CROW,C.P.A. DENNIS M.JACKSON,C.P.A. ORION L.HANSON,C.P.A.
KEITH TOELLE,C.P.A. GEORGE A.KNUTSON,C.P.A. PAMELA M.MAGADANCE,C.P.A.
THOMAS J.LENDT,C.P.A. RAYMOND K. DAHLE, C.P.A.
STRAND & ROE
Cetied /2uilic o4I/cca it etitiJ
6301 WAYZATA BOULEVARD
MINNEAPOLIS, MINNESOTA 55416
545 - 1651
June 8, 1977
To the Mayor and Members of
the City Council
City of Hopkins
Hopkins , Minnesota
Gentlemen:
We have examined the financial statements of the various funds and
account groups of the CITY OF HOPKINS , for the year ended December 31, 1976, listed
in the foregoing table of contents. Our examination was made in accordance with
generally accepted auditing standards and, accordingly, included such tests of the
accounting records and such other auditing procedures as we considered necessary
in the circumstances.
In our opinion, the aforementioned financial statements present fairly
the financial position of the various funds and account groups of the City of
Hopkins at December 31, 1976, and the results of operations of such funds and the
changes in financial position of the enterprise funds for the year then ended, in
conformity with generally accepted accounting principles applied on a basis con-
y
sistent with that of the preceding year. STRAND
& ROE
Respectfully submitted,
STRAND & ROE
Certified Public Accountants
Field Work Completed: April 27 , 1977
IF THIS REPORT IS PUBLISHED, IT MUST BE REPRODUCED IN ITS ENTIRETY. EXTRACTS MAY NOT BE PUBLISHED WITHOUT AUTHORIZATION.
-2-
City of Hopkins
Hopkins , Minnesota
COMBINED BALANCE SHEETS - ALL FUNDS
As Of December 31, 1976
Total
Memorandum
Assets Only
Cash $ 93 ,036
Cash with Fiscal Agents 331,287
Investments (At Cost) 1,049 ,727
Interest Receivable 17,557
Unremitted Taxes Collected by County 97,658
Rehabilitation Loans Receivable 37 ,469
Accounts Receivable 110,858
Special Assessments Receivable: (Including Future Interest)
Current 246,825
Delinquent 38,655
Deferred 1,840,365
Due from Other Governmental Units 798,297
Prepaid Expenses 77 ,760
To be Provided for Authorized Construction 236 ,318
Authorized Construction to be Assessed 803,667
Inventories - Supplies 28,415
Property, Plant and Equipment - Net 13 ,454,265
Construction in Progress 421,629
Amount Available for Retirement of Bonds 13,630
Amount to be Provided for Retirement of Bonds 1,316,370
Total Assets $21.013 ,788
Liabilities, Reserves and Fund Balances/Retained Earnings
Matured Bonds and Interest Payable $ 331,287
Accounts Payable 112,769
Contracts Payable 69,267
Accrued Payroll 85 ,267
Accrued Payroll Taxes and Employee Deductions 37,347
Accrued Interest on Bonds 2,017
Prepaid Revenues 56,254
Advance from Municipality - G. 0. Bonds -
Bonds Payable 4,115 ,000
Future Interest on Special Assessment Bonds 453,580
Encumbrances Outstanding 36 ,849
Reserves:
Petty Cash and Inventories 20,186
Trust Funds 5,995
Unexpended Project Authorizations 605 ,595
Extraordinary Repairs 35 ,000
Fund Balance:
Appropriated - Principal Balance 830,000
Unappropriated 957,589
Contributions from Other Governmental Units 818,144
Contributions/Retained Earnings 3,414,994
Invested in General Fixed Assets 9 ,026,648
Total Liabilities, Reserves and Fund Balances/Retained Earnings $21,013,788
The accompanying notes to the financial statements are an integral part of this report.
-2- EXHIBIT A
Special Debt Capital General General
General Revenue Service Projects Enterprise Fixed Long-Term
Fund Funds Funds Funds Funds Assets Debt
$156,024 $(16,116) $ 9,626 $ 82,412 $ (138,910) $ $
18,863 199 ,738 112,686
472,378 325,415 251,934
7 ,900 5 ,443 4,214
75 ,174 4,004 18,480
37 ,469
16 ,320 1,755 92,783
246 ,825
38,655
1,840,365
79,566 145 ,141 126,397 447 ,193
58,942 18,818
236,318
803,667
19,956 8,459
4,842,150 8,612,115
7,096 414,533
13 ,630
1,316,370
$405,982 $648,527 $32,493 $3,923,715 $5,646,423 $9,026,648 $1,330,000
$ $ $18,863 $ 199 ,738 $ 112,686 $ $
79,312 3,924 11,266 18,267
11,779 34,366 23,122
80,090 942 4,235
37,347
2,017
56,254
1,5 75 ,000 1,210,000 1,330,000
453 ,580
1,940 3 ,909 31,000
20,186
5 ,915 80 STRAND
605 ,595 & ROE
35,000
830,000
113,159 609 ,295 13 ,630 221,505
818,144
3,414,994
9,026,648
$405,982 $648,527 $32,493 $3,923,715 $5,646,423 $9 ,026,648 $1,330,000
-3- EXHIBIT B
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
COMBINED STATEMENT OF REVENUES AND EXPENDITURES
ACTUAL COMPARED TO BUDGET
For the Year Ended December 31, 1976
Actual
(Over)
Under
Revenues Actual Budget Budget
General Property Taxes $1,179,543 $1,355,829 $ 176,286
Licenses and Permits 88,227 99,221 10,994
Fines and Forfeitures 42,333 48,000 5 ,667
Intergovernmental Revenue 803,133 530,315 (272,818)
Departmental Fees and Service Charges 118,213 147 ,158 28,945
Miscellaneous Revenue 4,664 30,200 25 ,536
Non-Revenue Receipts 34,169 19 ,100 (15,069)
Transfers from Other Funds 205 ,779 233 ,386 27,607
Total Revenues $2,476,061 $2,463,209 $ (12,852)
Expenditures
General Government $ 330,519 $ 354,236 $ 23,717
Public Safety 664,834 624,080 (40,754)
Public Works 654,812 721,301 66,489
Health and Welfare 14,250 13,437 (813)
Historical Society 1,664 2,085 421
Parks and Recreation 392,672 427 ,620 34,948
Employee Benefits 204,126 177,250 (26 ,876)
Insurance 71,125 62,900 (8,225)
Unallocated 7,643 1,200 (6,443)
Transfers to Other Funds 67,566 65,000 (2 ,566)
Transfers to Other Governmental Agencies 17,201 14,100 (3,101)
r/
Total Expenditures $2,426,412 $2,463,209 $ 36,797 STRAND
& ROE
The accompanying notes to the financial statements are an integral part of this report.
-4-
City of Hopkins
Hopkins , Minnesota
ENTERPRISE FUNDS
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Years Ended December 31, 1976 and 1975
Com
1976
WORKING CAPITAL PROVIDED FROM:
Net Income (Loss) for the Period Before Extraordinary Income $(19 ,841)
Add: Expenses Not Requiring Outlay of Working
Capital in the Current Period:
Depreciation 138,000
(Gain) Loss on Sale of Equipment (1,165)
Working Capital Provided from Operations for the
Period, Exclusive of Extraordinary Items $116 ,994
Reduction in Non-Current Portion of Due from Other
Governmental Units 18,939
Proceeds from Sale of Equipment 1,165
Unbilled Portion of Prior Period Water and Sewer Usage
Total Working Capital Provided $137,098
WORKING CAPITAL APPLIED TO:
Outlays for Purchase of Long-Term Assets:
Buildings and Structures $
Wells, Tanks and Mains 32,491
Equipment 27 ,711
Construction in Progress 7 ,096
Less: Portion from P.I.R. Fund (14,592)
Bonds Due Within One Year 90 ,000
Prior Year Encumbrance 373
Increase in Funds Held in Trust
Total Working Capital Applied $143,079
NET INCREASE (DECREASE) IN WORKING CAPITAL $ (5 ,981)
NET CHANGES IN WORKING CAPITAL:
INCREASE (DECREASE) IN CURRENT ASSETS:
Cash $ 5 ,635
Due from Other Funds (4,514)
Due from Other Governmental Units 6,810
Accounts Receivable (17,145)
Prepaid Expenses (1,522)
Investments (1 ,326)
Inventories (9 ,729)
Interest Receivable 115
Net Changes in Current Assets $(21,676)
INCREASE (DECREASE) IN CURRENT LIABILITIES:
Accounts Payable $ (6,167)
Bonds Payable (10,000)
Accrued Liabilities 472
Due Other Governmental Units
Net Changes in Current Liabilities $(15 ,695)
NET INCREASE (DECREASE) IN WORKING CAPITAL - AS ABOVE $ (5 .981)
The accompanying notes to the financial statements are an integral part of this report.
-4- EXHIBIT C
bined Water Fund Sewer Fund
1975 1976 1975 1976 1975
$(14,859) $ 75 ,059 $ 35,083 $(94,900) $(49 ,942)
135 ,761 74,220 71,461 63,780 64,300
(139) (892) (139) (273)
$120,763 $148,387 $106,405 $(31,393) $ 14,358
7,341 18,939 7 ,341
1,036 892 1,036 273
42,730 16,072 26,658
$171,870 $149,279 $123,513 $(12,181) $ 48,357
$ 1,613 $ $ 1,613 $ $
26,380 27 ,878 26,380 4,613
16,647 25 ,125 9,859 2,586 6,788
7,096 (4,613)
(9 ,979)
100,000 50,000 60,000 40,000 40,000
373
50 50
$144,690 $100 ,493 $ 97,902 $ 42,586 $ 46 ,788
$ 27 ,180 $ 48,786 $ 25,611 $(54,767) $ 1,569
($294,917) $ 77 ,479 $(11,137) $(71,844) ($283,780)
(1,128) (4,514) (1,128)
8,986 (1,023) 1,023 7 ,833 7 ,963
32 ,689 (17 ,145) 32,689
(172) (1,522) (172)
253 ,260 (1,326) 253 ,260 ri
5 ,691 (8,990) 7,136 (739) (1,445) STRAND
4,099 115 4,099 & ROE
$ 8,508 $ 45 ,807 $ 28,583 $(67,483) $(20,075)
$ 13 ,920 $ 6,971 $ 2,255 $(13,138) $ 11,665
(10,000)
899 50 717 422 182
(33,491) (33,491)
$(18,672) $ (2,979) $ 2,972 $(12,716) $(21,644)
$ 27,180 $ 48,786 $ 25.611 $(54,767) $ 1,569
-5-
City of Hopkins
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(A) Accounting policies relate to the recognition of revenues and the
allocation of costs .
(B) The modified accrual basis of accounting is used for the General
Fund, Special Revenue Funds and Debt Service Funds. The accrual basis of
accounting is used for all other funds, except for the operations of the
Permanent Improvement Revolving Fund which is presented on the cash basis.
(C) Investments are stated at cost. Interest is recognized when
earned.
(D) Supply inventories are valued at the lower of cost or market on
the first-in, first-out basis .
(E) Property, plant and equipment are valued principally at cost. De-
preciation is provided over the estimated useful lives of the various
properties of the enterprise funds on the straight-line basis. No de-
preciation is provided on general fixed assets. Additions and improve-
ments to properties are capitalized. Maintenance and repair costs are
charged to operations. When properties of the enterprise funds are re-
tired by sale, the net value is removed and the resulting gain or loss
is reflected in income; if the retirement is by trade, the net book value
is reflected in the valuation of the new fixed asset acquired.
When general fixed assets are disposed of they are removed from mo
STRAND
the assets at their book value and no gain or loss is recorded. & ROE
NOTE 2 - COLLATERAL SECURITY
As of December 31, 1976 , the depository had pledged securities to safe-
guard City funds on deposit as follows:
-6-
City of Hopkins
Northwestern National Bank of Hopkins:
Mortgages $ 525 ,818
State and Municipal Bonds 560,000
Federal Deposit Insurance Corporation *100,000
Total $1,185,818
First National Bank of Hopkins:
State Bonds $ 400,000
U. S . Treasury Notes 600 ,000
Federal Deposit Insurance Corporation *100,000
Total $1,100,000
Minnesota Federal Savings & Loan of Hopkins:
Federal Deposit Insurance Corporation $ *100,000
*Regular F.D.I.C. coverage is $40,000 , but savings and
time deposits are covered up to $100,000.
NOTE 3 - FUTURE INTEREST - PERMANENT IMPROVEMENT REVOLVING FUND
These statements reflect the future interest receivable on special
assessments and future interest payable on bonds of the Permanent Improvement
Revolving Fund. Although this presentation is not in accordance with generally
accepted accounting principles, it is consistent with prior years and clearly
shows the intended operation of the fund.
NOTE 4 - CONTINGENT LIABILITIES
There were no contingent liabilities disclosed by our examination.
V
STRAND
& ROE
-7-
City of Hopkins
RECOMMENDATIONS AND COMMENTS
We offer the following recommendations and comments in connection with
your operations:
1. A budget should be established for the Federal Revenue Sharing Fund and
not be included in the General Fund budget.
2. Detail records of general fixed assets have not been maintained. Asset
cards should be brought up to date and tied in with the general ledger.
3 . We suggest that the procedures followed for collecting and recording re-
ceipts of the recreation department be reviewed by the finance and
recreation departments with primary consideration being given to using
some form of numbered receipt and/or a different type of cash register.
4. During the year under review additional auditing effort was necessary
because the general accounting was changed over to a new computer
system and there was a substantial change in accounting personnel which
caused a considerable delay in handling normal accounting functions .
5 . We suggest that water and sewer billings be recorded in the general
ledger control each month and reconciled with the detail customer cards .
6. The police department should maintain a record of ticket books issued to
individual officers . Tickets issued should be matched against county
disposition reports received and open tickets followed up.
7 . We recommend that each year the council delegate the authority to invest
surplus funds to a specific individual or individuals .
8. We noted an instance of a councilman doing business with the City. Under
Minnesota Statutes , Chapter 471, officials shall not do business with
the City except as provided under Section 471.88.
V
STRAND
& ROE
-8- SCHEDULE A-1
City of Hopkins
Hopkins, Minnesota
COMBINED SCHEDULE OF INVESTMENTS - ALL FUNDS
As Of December 31, 1976
Date Maturity Interest
Acquired Description Number Date Rate Amount
Sale and Repurchase Agreements
11-17-76 N. W. Nat' l Bank of Hopkins 2-17-77 5 .05% $ 70,000
Certificates of Deposit
10- 5-76 Minnesota Federal 4-9505101 10- 1-77 5 3/4% 100,000
Savings Accounts
First Nat'l Bank of Hopkins 01-777001-09 57 243 ,930
N. W. Nat'l Bank of Hopkins 8504430 5% 410 ,797
Bonds
1971 Hopkins Housing & Redevelopment 1977-84 6.997 225 ,000
Authority
Total Investments $1,049 .727
Invested by Funds
Real Estate Purchases & Sales Fund $ 325 ,415
Storm Sewer Fund 62,984
Park Grant Fund 83 ,979
Park Construction Fund 52,486
Permanent Improvement Revolving Fund 272,929
Sewer Fund 251,934
Total as Above $1,049,727 STRAND
& ROE
-9- SCHEDULE A-2
City of Hopkins
Hopkins, Minnesota
DUE FROM OTHER GOVERNMENTAL UNITS
As Of December 31, 1976
Due From For Amount
GENERAL FUND:
City of Minnetonka Commodities $ 6,383
City of Minnetonka Services & Commodities 20,329
Hopkins Ind. School Dist. Commodities 583
Hopkins Housing &
Redevelopment Authority Commodities & Services 27,880
State of Minnesota ASAP 360
Hennepin County Court Fines 6,653
Hennepin County Fiscal Disparity Settlement 9,391
Hennepin County C.E.T.A. 7,987
Total General Fund $ 79,566
COMMUNITY DEVELOPMENT FUND:
Department of Housing Community Development -
& Urban Development Block Grant Expenditures 145 ,141
PERMANENT IMPROVEMENT REVOLVING FUND:
Hopkins Housing & Tax Increment Financed
Redevelopment Authority Projects 122,488
MUNICIPAL STATE AID CONSTRUCTION FUND:
State of Minnesota Funds Encumbered on
Approved Projects 3,909
SEWER FUND:
Metropolitan Waste
Control Commission Current Value Credit $383,988
Metropolitan Waste
Control Commission Deferred Charges 29,322
Metropolitan Waste
Control Commission Cost Allocation Adjustment 32,051
Metropolitan Waste
Control Commission Lift Station Rent 1,832
STRAND
Total Sewer Fund 447,193 & ROE
Total Due from Other Governmental Units $798,297
-10- SCHEDULE A-3
City of Hopkins
Hopkins , Minnesota
CONSTRUCTION WORK IN PROGRESS
As Of December 31, 1976
GENERAL FIXED ASSETS
Parking Lots:
Project #608 $ 6,105
Project #724 37,175
Project #71-32 37 ,409
Project #72-16 71,157
Project #72-24 105 ,499
Project #76-03 1,252 $258,597
Streets and Alleys:
Concrete Alleys:
Project #76-17 $ 22
Street Lights:
Project #601 $ 719
Project #76-14 3,200 3 ,919
Street Construction:
Project #72-05 2,942 6 ,883
Unallocated Projects:
Projects #132-353-02; R-46;
7601 through 7610 149 ,053
Total General Fixed Assets $414,533
WATER FUND
Water Improvement Project 7,096
1,0
Total Construction Work in Progress $421,629
STRAND
& ROE
-11-
City of Hopkins
Hopkins , Minnesota
BOND AND INTEREST MATURITIES , MEANS OF FINANCING
AND RESERVE FOR UNCOLLECTIBLE TAXES - SUMMARY
As Of December 31, 1976
BONDS Total
Final INTEREST to be
Maturity Amount Rates Amount Paid
GENERAL OBLIGATION BONDS:
Water Revenue Bonds of 6-1-67 1988 $ 600,000 3 .9 - 4.2% $158,100 $ 758,100
Sewer Revenue Bonds of 7-1-70 1991 610,000 5 - 6.5% 292,475 902 ,475
Park Bonds of 7-1-70 1983 120,000 5 - 6% 24,550 144,550
Total Gen' 1 Obligation Bonds $1,330,000 $475 ,125 $1,805 ,125
PERMANENT IMPROVEMENT REVOLVING FUND:
Issue of 4-1-64 1984 $ 75 ,000 2.9 - 3 .27. $ 6,415 $ 81,415
Issue of 7-1-72 1992 1,500,000 4.1 - 5 .27. 447 ,165 1,947,165
Total P. I. R. Fund $1,575,000 $453 ,580 $2,028,580
Total - All Funds $2,905 ,000 $928.705 $3,833,705
(1) Levy collectible in 1977 cancelled by Council action; it is anticipated that
levies will be cancelled each year and payments made from water and sewer revenues .
(2) Includes payments due January 1, 1978 since deposits will be made with fiscal
agent in December of 1977 .
-11- SCHEDULE A-4
MEANS OF FINANCING General
P.I.R. Reserve Taxes
Water & Special Current for Uncol- to be Payments
Sewer Assessment Funds & Deferred lectible Collected Due During 1977
Revenues Funds Levy Tax Levies Taxes in 1977 Principal Interest
$ 74,200 $ $ 718,900 $35 ,000 (1) $ 50,000 $ 24,200
77,125 866,619 41,269 (1) (2) 40,000 37,125
26 ,900 123,533 5 ,883 22,683 (2) 20,000 6,900
$151,325 $26,900 $1,709,052 $82,152 $22,683 $110,000 $ 68,225
$ 81,415 $ 20,000 $ 2,040
1,947,165 (2)150,000 67,735
$2,028,580 $170,000 $ 69,775
$151,325 $2,028,580 $26,900 $1,709,052 $82,152 $22,683 $280,000 $138,000
STRAND
& ROE
-12- EXHIBIT D
City of Hopkins
Hopkins, Minnesota
GENERAL FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $156,024
Accounts Receivable 16,320
Delinquent Taxes Receivable $48,567
Less: Reserve for Uncollectible Taxes 48,567 -
Unremitted Taxes Collected by County 75 ,174
Due from Other Governmental Units 79,566
Prepaid Expenses 58,942
Inventories - Supplies 19,956
Total Assets $405 ,982
LIABILITIES , RESERVES AND FUND BALANCE
Accounts Payable $ 79,312
Contracts Payable 11,779
Accrued Payroll 80 ,090
Accrued Payroll Taxes and Employee Deductions 37 ,347
Prepaid Revenues 56,254
Encumbrances Outstanding 1,940
Reserves:
Petty Cash and Inventories $20 ,186
Trust Funds 5 ,915 26,101
Fund Balance 113,159
Total Liabilities, Reserves and Fund Balance $405 ,982
v
STRAND
& ROE
-13- EXHIBIT D-1
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
UNAPPROPRIATED
BALANCE - JANUARY 1, 1976 $ 62,250
ADDITIONS:
Net Decrease in Reserve for Encumbrances 1,260
Excess of Revenues Over Expenditures:
Revenues - Exhibit D-2 $2,476,061
Expenditures - Exhibit D-3 2,426,412 49 ,649
BALANCE - DECEMBER 31, 1976 $113,159
V
STRAND
& ROE
-14- EXHIBIT D-2
City of Hopkins
Hopkins, Minnesota
GENERAL FUND
STATEMENT OF REVENUES - ACTUAL COMPARED TO BUDGET
For the Year Ended December 31, 1976
Actual
(Over)
REVENUE Under
Actual Budget Budget
GENERAL PROPERTY TAXES:
Current Ad Valorem $1,133 ,373 $1,332,829 $ 199,456
Delinquent Ad Valorem 18,897 19,000 103
Penalties and Interest 4,562 4,000 (562)
Fiscal Disparities 22,711 (22,711)
Total General Property Taxes $1,179,543 $1,355 ,829 $ 176,286
LICENSES AND PERMITS:
Business $ 52,347 $ 50,771 $ (1,576)
Non-Business 35 ,880 48,450 12,570
Total Licenses and Permits $ 88,227 $ 99,221 $ 10,994
FINES AND FORFEITURES $ 42,333 $ 48,000 $ 5 ,667
INTERGOVERNMENTAL REVENUES:
State:
Local Government Aid $ 429,855 $ 430,000 $ 145
Machinery Aid 8,455 (8,455)
Homestead Credit 147 ,781 (147 ,781)
Highways - Maintenance 12,795 13 ,000 205
Civil Defense 729 (729)
Mobile Homes Credit 1,498 (1,498)
State Police Aid 349 800 451
Federal:
Anti-Recession Title II 1,642 (1,642)
County:
C.E.T.A. 104,851 (104,851)
ASAP or DWI 2,313 3 ,000 687
Police Aid 11,036 13 ,000 1,964
Local:
School Liaison 7,500 7 ,500
City of Minnetonka 74,329 63 ,015 (11,314)
803,133 $ 530 ,315 $(272,818)
Total Intergovernmental Revenues $ STRAND
& ROE
DEPARTMENTAL FEES AND SERVICE CHARGES:
General Government $ 4 ,123 $ 4,400 $ 277
Public Safety 1,050 2,200 1,150
Recreation 113 ,040 140,558 27,518
Total Departmental Fees & Service Charges $ 118,213 $ 147 ,158 $ 28,945
-15- EXHIBIT D-2
Page 2
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF REVENUES - ACTUAL COMPARED TO BUDGET
For the Year Ended December 31, 1976
Actual
(Over)
REVENUE Under
Actual Budget Budget
MISCELLANEOUS REVENUE:
Interest Earned $ $ 25 ,000 $ 25 ,000
Rents 1,552 2,000 448
Commissions 112 200 88
Sale of Equipment 3,000 3 ,000
Total Miscellaneous Revenue $ 4,664 $ 30,200 $ 25 ,536
NON-REVENUE RECEIPTS:
Revenue Collected for Other Agencies:
Firemen's Relief Association $ 17 ,096 $ 14,100 $ (2,996)
Refunds and Reimbursements 17 ,073 5 ,000 (12,073)
Total Non-Revenue Receipts $ 34,169 $ 19,100 $ (15 ,069)
TRANSFERS FROM OTHER FUNDS:
Permanent Improvement Revolving Fund:
Assessment Interest $ 66,000 $ 66,000 $
Overhead 2,791 15 ,000 12,209
Federal Revenue Sharing Fund 30,300 52,386 22,086
Municipal State Aid Construction Fund 6,688 (6,688)
Water Utility Fund 50,000 50,000
Sewer Utility Fund 50,000 50,000
Total Transfers from Other Funds $ 205 ,779 $ 233 ,386 $ 27,607
Total Revenues , Receipts and Transfers $2,476,061 $2,463,209 $ (12,852)
V
STRAND
& ROE
-16- EXHIBIT D-3
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
SUMMARY OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Expenditures Under
Function Actual Budget Budget
Mayor and Council $ 30,991 $ 29 ,600 $ (1,391)
City Manager 42,598 45 ,457 2,859
Court Services 5 ,833 5 ,000 (833)
Elections 11,599 7,900 (3,699)
City Clerk 24,748 27,425 2,677
Finance and Accounting 64,325 66,524 2,199
Assessing 39 ,236 57 ,177 17,941
Purchasing 7 ,607 10,780 3,173
Legal 25 ,500 25 ,700 200
Zoning and Planning 15,472 17 ,308 1,836
Municipal Building Maintenance 62,610 61,365 (1,245)
Police Protection 547 ,874 503 ,065 (44,809)
Fire Protection 55 ,963 66,306 10,343
Inspection 59 ,219 52,059 (7 ,160)
Civil Defense 650 650
Animal Control 1,778 2,000 222
Engineering 69 ,302 77,302 8,000
Street Administration 156,625 177,969 21,344
Streets and Alleys 54,091 79 ,100 25 ,009
Snow and Ice Removal 20,389 35,750 15 ,361 1
Municipal Garage 17 ,107 14,830 (2,277)
Traffic Signs and Signals 39 ,418 53 ,010 13 ,592
Street Lighting 53 ,459 38,570 (14,889)
Tree Service 20 ,358 34,170 13 ,812
Sanitation - Refuse Collection and Disposal 208,433 181,500 (26,933)
Storm Sewers , Street Cleaning and Weed Control 15 ,630 29 ,100 13,470
Health and Welfare Administration 14,250 13 ,437 (813)
Historical Society 1,664 2,085 421
Recreation:
Administration 101,391 100,833 (558)
Classes 41,647 56 ,200 14,553
Activities - Youth 13 ,845 13 ,795 (50)
Activities - Senior Citizens 6,744 11,578 4,834
Activities - Adult 21,323 21,020 (303)
Ice Rinks 8,172 9,715 1,543
Beaches 30,658 26 ,701 (3,957)
Swimming Instruction 18,775 18,871 96
STRAND
Playgrounds 15 ,083 19 ,017 3 ,934 & ROE
Day Camps 5 ,523 5 ,223 (300)
Municipal Parks 129,511 144,667 15 ,156
Employee Benefits 204,126 177,250 (26 ,876)
Insurance Expense 71,125 62,900 (8,225)
Unallocated 7 ,643 1,200 (6 ,443)
Transfers to Other Funds 67 ,566 65 ,000 (2,566)
Transfers to Other Governmental Agencies 17 ,201 14,100. (3 ,101)
Total Expenditures $2,426,412 $2,463 ,209 $ 36,797
-17- EXHIBIT D-4
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
GENERAL GOVERNMENT:
Mayor and Council:
Personal Services $ 14,636 $ 14,400 $ (236)
Supplies 1,838 2,000 162
Contractual Services 8,347 7 ,200 (1,147)
Other Charges 6 ,170 6,000 (170)
$ 30,991 $ 29 ,600 $ (1,391)
City Manager:
Personal Services $ 34,946 $ 35 ,082 $ 136
Supplies 2,045 2,575 530
Contractual Services 5 ,406 7 ,300 1,894
Other Charges 201 500 299
$ 42 ,598 $ 45 ,457 $ 2,859
Court Services:
Contractual Services $ 5 ,833 $ 5 ,000 $ (833)
1
Elections:
Personal Services $ 10,392 $ 6,600 $ (3 ,792)
Supplies 1,130 950 (180)
Contractual Services 77 350 273
$ 11,599 $ 7,900 $ (3 ,699)
City Clerk:
Personal Services $ 22,880 $ 24,300 $ 1,420
Supplies 699 700 1
Contractual Services 971 2,125 1,154
Other Charges 198 300 102
$ 24,748 $ 27 ,425 $ 2,677
Finance and Accounting:
Personal Services $ 56 ,908 $ 57 ,962 $ 1,054
Supplies 4,347 3,775 (572)
Contractual Services 2,837 2,560 (277)
Other Charges 150 127 (23) mo
Capital Outlay 83 2,100 2,017 STRAND
$ 64,325 $ 66,524 $ 2,199 & ROE
Assessing:
Personal Services $ 35 ,848 $ 53 ,887 $ 18,039
Supplies 1,387 1,400 13
Contractual Services 1,661 1,530 (131)
Other Charges 181 160 (21)
Capital Outlay 159 200 41
$ 39 ,236 $ 57 ,177 $ 17 ,941
-18- EXHIBIT D-4
Page 2
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
GENERAL GOVERNMENT: (Cont'd)
Purchasing:
Personal Services $ 6,458 $ 9,590 $ 3 ,132
Supplies 399 575 176
Contractual Services 460 390 (70)
Capital Outlay 290 225 (65)
$ 7 ,607 $ 10,780 $ 3,173
Legal Services:
Personal Services $ 1,800 $ 1,800 $
Supplies 132 250 118
Contractual Services 23,390 23,300 (90)
Other Charges 178 350 172
$ 25 ,500 $ 25 ,700 $ 200
Zoning and Planning:
Personal Services $ 6 ,703 $ 5 ,508 $ (1,195)
Supplies 1,336 900 (436)
Contractual Services 7 ,433 10,900 3 ,467
$ 15 ,472 $ 17,308 $ 1,836
Municipal Building Maintenance:
Personal Services $ 29,243 $ 29,743 $ 500
Supplies 2,352 1,650 (702)
Contractual Services 30,651 29,200 (1,451)
Capital Outlay 364 772 408
$ 62,610 $ 61,365 $ (1,245)
Total General Government $ 330 ,519 $ 354,236 $ 23,717
PUBLIC SAFETY:
Police Protection:
Personal Services $ 480,219 $ 437 ,345 $(42,874)
Supplies 30,526 26,450 (4,076)
Contractual Services 29,332 23 ,230 (6 ,102)
Other Charges 1,988 2,700 712 V
Capital Outlay 5,809 13,340 7,531 Sal"RAND
ROE
$ 547,874 $ 503,065 $(44,809)
Fire Protection:
Personal Services $ 26 ,745 $ 37 ,132 $ 10,387
Supplies 7 ,661 8,200 539
Contractual Services 7 ,242 7,670 428
Other Charges 2,755 2,600 (155)
Capital Outlay 11,560 10,704 (856)
$ 55 ,963 $ 66,306 $ 10 ,343
-19- EXHIBIT D-4
Page 3
City of Hopkins
Hopkins, Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
PUBLIC SAFETY: (Cont'd)
Inspection Services:
Personal Services $ 54,801 $ 47 ,254 $ (7,547)
Supplies 703 750 47
Contractual Services 3 ,385 3 ,765 380
Other Charges 210 165 (45)
Capital Outlay 120 125 5
$ 59 ,219 $ 52,059 $ (7 ,160)
Civil Defense:
Personal Services $ $ 300 $ 300
Contractual Services 350 350
$ - $ 650 $ 650
Animal Control:
Contractual Services $ 1,778 $ 2,000 $ 222
Total Public Safety $ 664,834 $ 624,080 $(40,754)
PUBLIC WORKS:
Engineering:
Personal Services $ 61,378 $ 64,907 $ 3,529
Supplies 2,316 2,075 (241)
Contractual Services 5 ,383 10,100 4,717
Other Charges 225 220 (5)
$ 69,302 $ 77,302 $ 8,000
Street Administration:
Personal Services $ 56 ,964 $ 68,219 $ 11,255
Supplies 53 ,906 48,000 (5 ,906)
Contractual Services 1,631 1,600 (31)
Other Charges 146 250 104
Capital Outlay 43 ,978 59,900 15,922
$ 156,625 $ 177,969 $ 21,344
Streets and Alleys:
Personal Services $ 17 ,200 $ 21,900 $ 4,700 STRAND
Supplies 12,318 22,200 9 ,882 & ROE
Contractual Services 24,573 30,000 5 ,427
Capital Outlay 5 ,000 5 ,000
$ 54,091 $ 79,100 $ 25 ,009
Snow and Ice Removal:
Personal Services $ 13 ,764 $ 26 ,600 $ 12,836
Supplies 6 ,613 8,400 1,787
Contractual Services 12 750 738
$ 20,389 $ 35 ,750 $ 15 ,361
-20- EXHIBIT D-4
Page 4
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
PUBLIC WORKS: (Cont'd)
Municipal Garage:
Supplies $ 5 ,178 $ 4,830 $ (348)
Contractual Services 11,022 9,000 (2,022)
Capital Outlay 907 1,000 93
$ 17,107 $ 14,830 $ (2,277)
Traffic Signs and Signals:
Personal Services $ 11,663 $ 13 ,460 $ 1,797
Supplies 4,753 5 ,850 1,097
Contractual Services 18,305 20,350 2,045
Capital Outlay 4,697 13,350 8,653
$ 39,418 $ 53,010 $ 13,592
Street Lighting:
Personal Services $ 773 $ 2,570 $ 1,797
Supplies 1,527 2,000 473
Contractual Services 51,159 34,000 (17,159)
$ 53 ,459 $ 38,570 $(14,889)
Tree Service:
Personal Services $ 19 ,705 $ 30,620 $ 10,915
Supplies 269 1,200 931
Contractual Services 384 2,350 1,966
$ 20 ,358 $ 34,170 $ 13,812
Sanitation - Refuse Collection and Disposal:
Personal Services $ 162,737 $ 141,690 $(21,047)
Supplies 34,663 30,940 (3,723)
Contractual Services 10,533 8,370 (2,163)
Other Charges 500 500
$ 208,433 $ 181,500 $(26,933)
Storm Sewers, Street Cleaning & Weed Control:
Personal Services $ 15 ,018 $ 27 ,000 $ 11,982
Supplies 612 2,100 1,488 V
$ 15 ,630 $ 29,100 $ 13 ,470 STRAND
& ROE
Total Public Works $ 654,812 $ 721,301 $ 66,489
HEALTH AND WELFARE ADMINISTRATION:
Personal Services $ 5 ,801 $ 5 ,000 $ (801)
Contractual Services 8,449 8,437 (12)
Total Health and Welfare
Administration $ 14,250 $ 13 ,437 $ (813)
-21- EXHIBIT D-4
Page 5
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
HISTORICAL SOCIETY:
Personal Services $ 788 $ 600 $ (188)
Supplies 182 485 303
Contractual Services 694 800 106
Other Charges 200 200
Total Historical Society $ 1,664 $ 2,085 $ 421
PARKS AND RECREATION:
Administration:
Personal Services $ 78,244 $ 70,711 $ (7 ,533)
Supplies 8,540 6,200 (2,340)
Contractual Services 8,382 10,972 2,590
Other Charges 4,521 11,950 7 ,429
Capital Outlay 1,704 1,000 (704)
$ 101,391 $ 100,833 $ (558)
Classes:
Personal Services $ 40,442 $ 50,600 $ 10,158
Supplies 1,205 600 (605)
Contractual Services 5,000 5,000
$ 41,647 $ 56,200 $ 14,553
Activities - Youth:
Personal Services $ 9 ,735 $ 11,143 $ 1,408
Supplies 4,110 2,652 (1,458)
$ 13 ,845 $ 13,795 $ (50)
Activities - Senior Citizens:
Personal Services $ 4,677 $ 6 ,240 $ 1,563
Supplies 1,470 2,300 830
Contractual Services 597 3,000 2,403
Other Charges 38 38
$ 6,744 $ 11,578 $ 4,834
Activities - Adults:
Personal Services $ 14,961 $ 16,652 $ 1,691 STRAND
Supplies 2,717 1,809 (908) & ROE
Contractual Services 2,333 1,037 (1,296)
Other Charges 1,312 1,522 210
$ 21 ,323 $ 21,020 $ (303)
Ice Rinks:
Personal Services $ 8,009 $ 9,085 $ 1,076
Supplies 163 630 467
$ 8,172 $ 9 ,715 $ 1,543
-22- EXHIBIT D-4
Page 6
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
PARKS AND RECREATION: (Cont'd)
Beaches:
Personal Services $ 21,842 $ 22,166 $ 324
Supplies 4,820 2,100 (2,720)
Contractual Services 3,996 2,435 (1,561)
$ 30 ,658 $ 26,701 $ (3,957)
Swimming Instruction:
Personal Services $ 17,834 $ 18,100 $ 266
Supplies 941 771 (170)
$ 18,775 $ 18,871 $ 96
Playgrounds:
Personal Services $ 10,783 $ 12,782 $ 1,999
Supplies 4,024 5 ,125 1,101
Contractual Services 276 1,110 834
$ 15 ,083 $ 19,017 $ 3,934
Day Camps:
Personal Services $ 3 ,976 $ 3,383 $ (593)
Supplies 647 700 53
Contractual Services 900 1,140 240
$ 5 ,523 $ 5 ,223 $ (300)
Municipal Parks:
Personal Services $ 105 ,360 $ 86 ,992 $(18,368)
Supplies 16,038 19,380 3 ,342
Contractual Services 4,847 12,020 7,173
Debt Service 23,200 23,200
Other Charges 1,885 2,250 365
Capital Outlay 1,381 825 (556)
$ 129,511 $ 144,667 $ 15,156
Total Parks and Recreation $ 392,672 $ 427 ,620 $ 34,948
EMPLOYEE BENEFITS:
RAN
P.E.R.A. $ 107 ,591 $ 108,150 $ 559 &STROED
F.I.C.A. 32,780 29,400 (3,380)
Health Insurance 46,844 35 ,700 (11,144)
M.B.A. Insurance 5 ,798 (5,798)
Unemployment Compensation 11,113 4,000 (7 ,113)
Total Employee Benefits $ 204,126 $ 177,250 $(26,876)
-23- EXHIBIT D-4
Page 7
City of Hopkins
Hopkins , Minnesota
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
For the Year Ended December 31, 1976
(Over)
Under
Description Expenditures Budget Budget
INSURANCE EXPENSE:
Workmen's Compensation $ 36,997 $ 28,000 $ (8,997)
Fleet Liability 10,912 8,300 (2,612)
General Liability 17 ,520 17,000 (520)
Fire and Extended Coverage 3 ,527 4,000 473
Volunteer Firemen's Accident 198 600 402
Excess Umbrella Liability 1,370 4,400 3 ,030
Employee Bonds 601 600 (1)
Total Insurance Expense $ 71,125 $ 62,900 $ (8,225)
UNALLOCATED:
Contingencies $ 6,760 $ 1,200 $ (5 ,560)
Refunds and Reimbursements 883 (883)
Total Unallocated $ 7 ,643 $ 1,200 $ (6,443)
TRANSFERS TO OTHER FUNDS:
Storm Sewer Fund $ 65,000 $ 65 ,000 $
Permanent Improvement Revolving Fund 2,566 (2,566)
Total Transfers to Other Funds $ 67,566 $ 65 ,000 $ (2,566)
TRANSFERS TO OTHER GOVERNMENTAL AGENCIES:
Firemen's Relief Association $ 17 ,201 $ 14,100 $ (3,101)
Total Expenditures $2,426,412 $2,463,209 $ 36,797
V
STRANC
& ROE
-24- EXHIBIT E
City of Hopkins
Hopkins, Minnesota
FEDERAL REVENUE SHARING FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $715
Total Assets $715
LIABILITIES AND FUND BALANCE
Fund Balance $715
Total Liabilities and Fund Balance $715
V
STRANC
& ROE
-25- EXHIBIT E-1
City of Hopkins
Hopkins , Minnesota
FEDERAL REVENUE SHARING FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $12,437
DEDUCT:
Excess of Expenditures Over Revenue:
Expenditures $95 ,907
Revenue 84,185 11,722
BALANCE - DECEMBER 31, 1976 $ 715
V
STRANC
& ROE
-26- EXHIBIT E-2
City of Hopkins
Hopkins , Minnesota
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Entitlement Payments $82,737
Interest Earned 1,448
Total Revenue $84,185
EXPENDITURES
Operating/Maintenance Expenditures:
Public Safety $ 1,425
Environmental Protection 2,658
OSHA 849
Financial Administration 493
Total Operating/Maintenance Expenditures $ 5 ,425
Capital Expenditures:
Public Safety:
Signal Lights $11,127
Police Cars and Equipment 9,363 $20,490
Financial Administration:
Postage Machine 1,476
Multipurpose and General Government:
Snow Plow $ 2,978
Railroad Crossing and Signals 35 ,238 38,216
Total Capital Expenditures 60,182
TRANSFERS OUT:
To General Fund 30,300 ✓
STRAND
Total Expenditures $95 ,907 & ROE
-27- EXHIBIT F
City of Hopkins
Hopkins, Minnesota
COMMUNITY DEVELOPMENT FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Due from Other Governmental Units $145 ,141
Rehabilitation Loans Receivable 37,469
Accounts Receivable - Other 1,755
Total Assets $184,365
LIABILITIES AND FUND BALANCE
Bank Overdraft $118,164
Accounts Payable 3,924
Contracts Payable 3,107
Accrued Payroll 942
Fund Balance 58,228
Total Liabilities and Fund Balance $184,365
V
STRAND
& ROE
-28- EXHIBIT F-1
City of Hopkins
Hopkins , Minnesota
COMMUNITY DEVELOPMENT FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ 1,604
ADD:
Excess of Revenues Over Expenditures:
Revenues $225 ,587
Expenditures 204,837
$ 20,750
Loans Granted 49,468 70,218
Balance $71,822
DEDUCT:
Collection of Rehabilitation Loans - Principal 13,594
BALANCE - DECEMBER 31, 1976 $58,228
v
STRAND
& ROE
-29- EXHIBIT F-2
City of Hopkins
Hopkins , Minnesota
COMMUNITY DEVELOPMENT FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Federal Grant $197,137
Tree Removal Fees 6,635
Rehabilitation Loans:
Principal $13,594
Interest 521 14,115
Grant Repayment 7,700
Total Revenue $225,587
EXPENDITURES
Housing Rehabilitation:
Grants $27 ,641
Loans 49 ,788
Inspection 185
Legal Fees 809 $ 78,423
Tree Removal and Reforestation:
Private Tree Removal:
Payroll $ 5 ,596
Employee Benefits 635
Other 10,780 $17,011
Public Tree Removal:
Payroll $ 4,359
Employee Benefits 495 4,854
Tree Removal and Reforestation Equipment 4,440 26,305
Acquisition of Deteriorated Property in
Conjunction with Rehabilitation 9,100
Bikeways Development 31,876
Urban Renewal Interest Cost 8,700
Administration:
Payroll $22,897
Employee Benefits 2,901
po
Legal and Audit 804
Xerox Charges 1,998 STRAND
& ROE
Equipment 279
Other 2,951 31,830
Planning and Management:
Community Center Project 2,736
Clearance, Demolition and Rehabilitation 867
Relocation:
Payment for Property in Conjunction with
Deteriorated Housing 15,000
Total Expenditures $204,837
-30- EXHIBIT G
City of Hopkins
Hopkins , Minnesota
BEACH CONCESSION FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $12,589
Total Assets $12,589
LIABILITIES AND FUND BALANCE
Fund Balance $12,589
Total Liabilities and Fund Balance $12,589
STRAND
& ROE
-31- EXHIBIT G-1
City of Hopkins
Hopkins , Minnesota
BEACH CONCESSION FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $11,483
ADD:
Excess of Revenue Over Expenditures:
Revenue $1,106
Expenditures - 1,106
BALANCE - DECEMBER 31, 1976 $12,589
v'
STRAND
& ROE
--i
-32- EXHIBIT G-2
City of Hopkins
Hopkins , Minnesota
BEACH CONCESSION FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Concession Commissions $1,106
Total Revenue $1,106
EXPENDITURES
$ -
STRAND
S ROE
-33- EXHIBIT H
City of Hopkins
Hopkins , Minnesota
REAL ESTATE PURCHASES AND SALES FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $ 66,512
Investments (At Cost) 325 ,415
Accrued Interest Receivable 5 ,443
Total Assets $397,370
LIABILITIES AND FUND BALANCE
Fund Balance $397 ,370
Total Liabilities and Fund Balance $397,370
v
STRAND
& ROE
-34- EXHIBIT H-1
City of Hopkins
Hopkins , Minnesota
REAL ESTATE PURCHASES AND SALES FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $381,877
ADD:
Excess of Revenue Over Expenditures:
Revenue $15 ,493
Expenditures - 15 493
BALANCE - DECEMBER 31, 1976 $397,370
v
STRAND
& ROE
-35- EXHIBIT H-2
City of Hopkins
Hopkins , Minnesota
REAL ESTATE PURCHASES AND SALES FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Interest Earned $15 ,493
Total Revenue $15 ,493
EXPENDITURES
$ -
1,1
STRAND
& ROE
-36- EXHIBIT I
City of Hopkins
Hopkins , Minnesota
STORM SEWER FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $17 ,246
Investments (At Cost) 62,984
Interest Receivable 1,053
Total Assets $81,283
LIABILITIES AND FUND BALANCE
Fund Balance $81,283
Total Liabilities and Fund Balance $81,283
V
STRAND
& ROE
-37- EXHIBIT I-1
City of Hopkins
Hopkins , Minnesota
STORM SEWER FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $29 ,606
ADD:
Excess of Revenue Over Expenditures:
Revenue $66,192
Expenditures 14,515 51,677
BALANCE - DECEMBER 31, 1976 $81,283
v
STRAND
& ROE
-38- EXHIBIT I-2
City of Hopkins
Hopkins , Minnesota
STORM SEWER FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Interest Earned $ 1,192
TRANSFERS IN:
From General Fund 65 ,000
Total Revenue $66.192
EXPENDITURES
Storm Sewers $14,515
Total Expenditures $14,515
STRAND
& ROE
-39- EXHIBIT J
City of Hopkins
Hopkins , Minnesota
PARK GRANT FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $ 15 ,838
Investments (At Cost) 83 ,979
Interest Receivable 1,404
Total Assets $101,221
LIABILITIES AND FUND BALANCE
Fund Balance $101,221
Total Liabilities and Fund Balance $101,221
V
ST RANO
& ROE
-40- EXHIBIT J-1
City of Hopkins j
Hopkins , Minnesota
PARK GRANT FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ -
ADD:
Excess of Revenue Over Expenditures:
Revenue $102,771
Expenditures 1,550 101,221
BALANCE - DECEMBER 31, 1976 $101,221
V
STRAND
& ROE
-41- EXHIBIT J-2
City of Hopkins
Hopkins , Minnesota
PARK GRANT FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Interest Earned $ 4,171
TRANSFERS IN:
From Park Construction Fund 98,600
Total Revenue $102,771
EXPENDITURES
Administration:
Appraisals $ 1,550
Total Expenditures $ 1,550
V
STRANC
& ROE
-42- EXHIBIT K
City of Hopkins
Hopkins , Minnesota
CENTRAL BUSINESS DISTRICT REDEVELOPMENT FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Total Assets $ -
LIABILITIES AND FUND BALANCE
Bank Overdraft $10,852
Contracts Payable 31,259
Fund Balance (Deficit) (42,111)
Total Liabilities and Fund Balance $ -
STRAND
a ROE
-43- EXHIBIT K-1
City of Hopkins
Hopkins , Minnesota
CENTRAL BUSINESS DISTRICT REDEVELOPMENT FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ -
DEDUCT:
Expenditures in Excess of Revenue:
Expenditures $42,111
Revenue - (42,111)
BALANCE - DECEMBER 31, 1976 $(42,111)
V
STRAND
& ROE
-44- EXHIBIT K-2
City of Hopkins
Hopkins, Minnesota
CENTRAL BUSINESS DISTRICT REDEVELOPMENT FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Total Revenue $ -
EXPENDITURES
Land Acquisition $31,257
Land Improvements 392
Administration:
Design and Planning $7 ,326
Appraisals 1,500
Plans 450
Justification Report 1,077
Other 109 10,462
Total Expenditures $42,111
STRAND
& ROE
-45- EXHIBIT L
City of Hopkins
Hopkins , Minnesota
BOND RETIREMENT FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $ 1,322
Cash With Fiscal Agents 18,863
Unremitted Taxes Collected by County 4,004
Delinquent Taxes Receivable $1,016
Less: Reserve for Uncollectible Taxes 1,016 -
Total Assets $24,189
LIABILITIES , RESERVES AND FUND BALANCE
Matured Bonds and Interest Coupons $18,863
Fund Balance 5,326
Total Liabilities , Reserves and Fund Balance $24,189
v
STRAND'.
& ROE
-46- EXHIBIT L-1
City of Hopkins
Hopkins , Minnesota
BOND RETIREMENT FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $4,880
ADD:
Excess of Revenue Over Expenditures:
Revenue $23,196
Expenditures 22,750 446
BALANCE - DECEMBER 31, 1976 $5 ,326
v
STRAND
& ROE
-47- EXHIBIT L-2
City of Hopkins
Hopkins , Minnesota
BOND RETIREMENT FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
General Property Taxes $23,196
Total Revenue $23,196
EXPENDITURES
Debt Service:
Bond Principal $15,000
Interest on Bonds 7 ,725
Fiscal Agents' Fees 25
Total Expenditures $22,750
STRAND
& ROE
-48- EXHIBIT M
City of Hopkins
Hopkins , Minnesota
SPECIAL ASSESSMENT FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $8,304
Total Assets $8,304
LIABILITIES , RESERVES AND FUND BALANCE
Fund Balance $8,304
Total Liabilities , Reserves and Fund Balance $8,304
STRAND
& ROE
-49- EXHIBIT M-1
City of Hopkins
Hopkins , Minnesota
SPECIAL ASSESSMENT FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $8,304
BALANCE - DECEMBER 31, 1976 $8,304
V
STRAND
& ROE
-50- EXHIBIT N
City of Hopkins
Hopkins , Minnesota
PERMANENT IMPROVEMENT REVOLVING FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $ 64,794
Cash on Deposit with Fiscal Agents 199,738
Investments (At Cost) 272,929
Unremitted Special Assessments (Collected by County) 18,480
Interest Receivable 4,565
Special Assessments Receivable: (Includes Future Interest)
Current $ 246,825
Delinquent 38,655
Deferred 1,840,365 2,125 ,845
Due from Other Governmental Units 122,488
Authorized Construction to be Assessed 803 ,667
To be Provided for Authorized Construction 236,318
Total Assets $3,848,824
LIABILITIES AND FUND BALANCE
Matured Bonds and Interest Payable $ 199,738
Accounts Payable 5 ,603
Contracts Payable 23,122
Bonds Payable 1,575 ,000
Future Interest on Bonds 453 ,580
Unexpended Project Authorizations 605,595
Fund Balance:
Fund Principal $ 830 ,000
Unappropriated 156,186 986,186
Total Liabilities and Fund Balance $3 ,848,824
STRANC
& ROE
-51- EXHIBIT N-1
City of Hopkins
Hopkins, Minnesota
PERMANENT IMPROVEMENT REVOLVING FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
UNAPPROPRIATED
BALANCE - JANUARY 1, 1976 $192,377
ADDITIONS:
Interest on Special Assessments Levied
in 1976 $30 ,796
Interest Earned on Investments 19 ,069
Total Additions 49,865
$242,242
DEDUCTIONS:
Interest Transferred to General Fund $66,000
Interest Cancelled by Prepayment of
Special Assessments 16 ,841
Special Assessments Receivable Adjustment 3 ,052
Fiscal Agents' Fees 163
Total Deductions 86,056
BALANCE - DECEMBER 31, 1976 $156,186
V
ST RANC
& ROE
-52- EXHIBIT N-2
City of Hopkins
Hopkins , Minnesota
PERMANENT IMPROVEMENT REVOLVING FUND
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $135 ,744
RECEIPTS:
Special Assessments Collected $289,528
Project Costs Paid by Other Funds 18,974
Interest on Investments 20,424
Total Receipts (Excluding Investments) $328,926
INVESTMENTS MATURED OR SOLD (AT COST) 365 ,820
Total Receipts 694,746
Balance $830,490
DISBURSEMENTS:
Project Costs $175 ,395
Debt Service:
Bonds $170,000
Interest 76,695
Fees 163 246,858
Hopkins House Special Assessment Balance
Transferred from Water Fund 4,514
Total Disbursements (Excluding Transfers
and Investments Purchased) $426 ,767
INVESTMENTS PURCHASED 272,929
TRANSFERS OUT:
To General Fund 66,000
Total Disbursements 765 ,696 ✓
STRAND
BALANCE - DECEMBER 31, 1976 $ 64,794 & ROE
-53-
City of Hopkins
Hopkins, Minnesota
PERMANENT IMPROVEMENT REVOLVING FUND
PROJECT COSTS AND MEANS OF FINANCING
As Of December 31, 1976
PRO J E C T
EXPENDITURES
Current Year
Prior Construc- Over-
Years tion head Total
Parking Lots $257 ,345 $ 1,085 $ 167 $258,597
Concrete Alleys 15,471 22 137 15 ,630
Water Connection 1,941 1,941
Sanitary Sewer 10 ,463 4,612 1 15 ,076
Water Mains 604 8,213 1,162 9,979
Street Lights 348,084 3 ,200 930 352,214
Concrete Repair
Curb and Gutters
Storm Sewer 9 ,415 5 ,100 14,515
Street Construction 31,691 9 ,458 1,419 42,568
Street Surfacing 404 61 465
G. L. Contracting Costs to be
Allocated to Projects 149,053 149 ,053
Totals $673,073 $183,088 $3,877 $860,038
-53- EXHIBIT N-3
COS T S
MEANS OF FINANCING PRO J E C T S
Unexpended Paid By Assessed Assessed
Authori- Other in in To Be To Be
zations Total Funds 1973 1976 Assessed Provided Total
$357,568 $ 616,165 $ $ $ $613,905 $ 2,260 $ 616,165
24,018 39 ,648 2,566 13,042 19 ,519 4,521 39,648 j
1,941 1,941 1,941
(1,082) 13,994 10,464 3,530 13,994
(852) 9,127 604 8,523 9,127
16,508 368,722 40,248 294,353 10,230 23,891 368,722
944 944 944 944
22,166 22,166 12,334 9 ,832 22,166
45 ,437 59 ,952 14,515 10,682 34,755 59,952
44,013 86,581 39,626 20 ,000 26,955 86,581
96,875 97 ,340 88,398 8,942 97 ,340
149 ,053149 ,053 149,053
v
$605 ,595 $1,465,633 $57,329 $294,353 $73,966 $803 .667 $236,318 $1,465 ,633 STRAND
& ROE
-54- EXHIBIT 0
City of Hopkins
Hopkins , Minnesota
PARK CONSTRUCTION FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $17 ,609
Investments (At Cost) 52 ,486
Interest Receivable 878
Total Assets $70 .973
LIABILITIES , RESERVES AND FUND BALANCE
Accounts Payable $ 5 ,663
Fund Balance 65 ,310
Total Liabilities , Reserves and Fund Balance $70,973
v
STRAND
& ROE
-55- EXHIBIT 0-1
I
City of Hopkins
Hopkins, Minnesota
PARK CONSTRUCTION FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $209,393
DEDUCT:
Excess of Expenditures Over Revenue:
Expenditures $148,254
Revenue 4,171 144,083
BALANCE - DECEMBER 31, 1976 $ 65,310
V
STRAND
& ROE
-56- EXHIBIT 0-2
City of Hopkins
Hopkins, Minnesota
PARK CONSTRUCTION FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Interest Earned $ 4,171
Total Revenue $ 4,171
EXPENDITURES
New Facilities:
Oaks Park:
Tennis Court $24,568
Equipment 3,520
Warming House and Shelter 150 $28,238
Valley Park:
Warming House and Shelter $13 ,517
Land Improvements 1,560
Equipment 6,339 21,416 $ 49,654
TRANSFERS OUT:
To Park Grant Fund 98,600
Total Expenditures $148,254
STRAND
& ROE
-57- EXHIBIT P
City of Hopkins
Hopkins , Minnesota
MUNICIPAL STATE AID CONSTRUCTION FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Due from Other Governmental Units $3,909
Total Assets $3,909
LIABILITIES AND FUND BALANCE
Encumbrances Outstanding $3,909
Total Liabilities and Fund Balance $3,909
V
STRAND
& ROE
-58- EXHIBIT P-1
City of Hopkins
Hopkins , Minnesota
MUNICIPAL STATE AID CONSTRUCTION FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ -
ADD:
Excess of Revenue Over Expenditures:
Revenue $15 ,130
Expenditures 15 ,130 -
BALANCE - DECEMBER 31, 1976 $ -
V
STRAND
& ROE
-59- EXHIBIT P-2
City of Hopkins
Hopkins , Minnesota
MUNICIPAL STATE AID CONSTRUCTION FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
State Construction Aid - Streets $15 ,130
Total Revenue $15,130
EXPENDITURES
Construction - Streets:
State Project 132-346-09 $ 6,688
State Project 132-353-02 8,442
Total Expenditures $15 ,130
STRAND
& ROE
-60- EXHIBIT Q
City of Hopkins
Hopkins , Minnesota
TRAILS END FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Total Assets $ -
LIABILITIES AND FUND BALANCE
Bank Overdraft $ 125
Fund Balance (Deficit) (125)
Total Liabilities and Fund Balance $ -
STRAND
& ROE
-61- EXHIBIT Q-1
City of Hopkins
Hopkins , Minnesota
TRAILS END FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ -
DEDUCT:
Excess of Expenditures Over Revenue:
Expenditures $125
Revenue - 125
BALANCE - DECEMBER 31, 1976 $ (125)
V
STRAND
& ROE
-62- EXHIBIT Q-2
City of Hopkins
Hopkins , Minnesota
TRAILS END FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
Total Revenue $ -
EXPENDITURES
Lease $ 125
Total Expenditures $ 125
V
STRAND
& ROE
-63- EXHIBIT R
City of Hopkins
Hopkins , Minnesota
MINNESOTA HOUSING AND FINANCE AGENCY FUND
BALANCE SHEET
As Of December 31, 1976
ASSETS
Cash $ 134
Total Assets $ 134
LIABILITIES AND FUND BALANCE
Fund Balance $ 134
Total Liabilities and Fund Balance $ 134
V
STRAND
& ROE
-64- EXHIBIT R-1
City of Hopkins
Hopkins , Minnesota
MINNESOTA HOUSING AND FINANCE AGENCY FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $ -
I
ADD:
Excess of Revenue Over Expenditures:
Revenue $134
Expenditures - 134
BALANCE - DECEMBER 31, 1976 $ 134
i/
STRANC
& ROE
-65- EXHIBIT R-2
City of Hopkins
Hopkins , Minnesota
MINNESOTA HOUSING AND FINANCE AGENCY FUND
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 1976
REVENUE
State Grant $ 134
Total Revenue $ 134
EXPENDITURES
Total Expenditures $ -
V
STRANC
& ROE
-66- EXHIBIT S
City of Hopkins
Hopkins , Minnesota
WATER UTILITY FUND
BALANCE SHEETS
As Of December 31, 1976 and 1975
Assets 12-31-76 12-31-75
CURRENT ASSETS :
Cash on Deposit with Fiscal Agents $ 52,983 $ 54,110
Accounts Receivable 92,783 109 ,928
Due from Other Funds - 4,514
Due from Other Governmental Units - 1,023
Inventory - Supplies 8,014 17,004
Total Current Assets $ 153,780 $ 186,579
PROPERTY , PLANT AND EQUIPMENT:
Land $ 16,247 $ 16,247
Buildings and Structures 6 ,657 6 ,080
Wells , Tanks and Mains 3,248,774 3 ,220,896
Vehicles and Equipment 23,621 22,815
Water Meters 70,245 63 ,412
Sundry Equipment 5 ,521 6 ,032
Office Equipment 3 ,359 11,532
Total Cost $3 ,374,424 $3 ,347,014
Less: Accumulated Depreciation 941,724 892,397
Net Book Value $2,432,700 $2,454,617
OTHER ASSETS:
Construction in Progress $ 7,096 $ -
Total Assets $2,593,576 $2,641,196
Liabilities , Reserves and Contributions/Retained Earnings
CURRENT LIABILITIES:
Bank Overdraft $ 186 ,273 $ 263 ,752
Matured Bonds and Interest Payable 52,983 54,110
Accounts Payable 18,076 11,105
Accrued Payroll 2,750 2,495
Accrued Interest on Bonds 2 ,017 2 ,222
Advance from Municipality - G. 0 . Bonds 50 ,000 40,000
Bonds Payable - 20,000
Total Current Liabilities $ 312 ,099 $ 393 ,684 v
STRANC
LONG-TERM DEBT: & ROE
Advance from Municipality - G. 0 . Bonds -
Due After One Year $ 550,000 $ 600 ,000
ENCUMBRANCES OUTSTANDING $ 28,000 $ 700
RESERVES: TRUST FUNDS $ 80 $ 80
CONTRIBUTIONS/RETAINED EARNINGS $1,703,397 $1,646,732
Total Liabilities , Encumbrances , Reserves
and Contributions/Retained Earnings $2,593 ,576 $2 .641,196
-67- EXHIBIT S-1
City of Hopkins
Hopkins , Minnesota
WATER UTILITY FUND
STATEMENT OF CHANGES IN CONTRIBUTIONS/RETAINED EARNINGS
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $1,646 ,732
ADD:
Net Income for the Year $75 ,059
Property, Plant and Equipment from the P.I .R. Fund 9 ,979
Total Additions 85 ,038
$1,731,770
DEDUCT:
Reserve for Repainting Moline Water Tower $28,000
Adjustment of Prior Year Encumbrance 373
Total Deductions 28,373
BALANCE - DECEMBER 31, 1976 $1,703 ,397
V
STRAND
& ROE
-68- EXHIBIT S-2
City of Hopkins
Hopkins , Minnesota
WATER UTILITY FUND
STATEMENT OF REVENUE AND EXPENSE
For the Years Ended December 31, 1976 and 1975
12-31-76 12-31-75
Budget Actual Actual 1
OPERATING REVENUES:
Customer Water Charges $330,000 $384,303 $307 ,969
Meters, Hookups and Penalties 11 ,500 2 ,191 7,681
Other 1,616 642 3,675
Total Operating Revenues $343 ,116 $387,136 $319 ,325
LESS: Operating Expenses Before Depreciation 210,188 212,232 184,287
Net Operating Income Before Depreciation $132,928 $174,904 $135 ,038
LESS: Depreciation - 74,220 71,461
Net Operating Income $132,928 $100 ,684 $ 63 ,577
ADD: Non-Operating Income:
Gain on Sale of Equipment - 892 139
$132,928 $101,576 $ 63 ,716
LESS : Non-Operating Expenses:
Interest Expense $ 26,210 $ 25 ,630 $ 28,466
Fiscal Agents ' Fees 200 147 167
Purchase of Water Meters for Resale - 740 -
Total Non-Operating Expenses $ 26,410 $ 26 ,517 $ 28,633
Net Income Before Extraordinary Income $106 ,518 $ 75 ,059 $ 35 ,083
ADD: Extraordinary Income:
Unbilled Portion of Prior Period Water Usage - - 16,072 V
STRAND
Net Income for the Year $106,518 $ 75 ,059 $ 51,155 & ROE
-69- EXHIBIT S-3
City of Hopkins
Hopkins , Minnesota
WATER UTILITY FUND
SCHEDULE OF OPERATING EXPENSES
For the Years Ended December 31, 1976 and 1975
12-31-76 12-31-75
Budget Actual Actual
ADMINISTRATION:
Personal Services $ 13,600 $ 13 ,854 $ 11,012
Supplies 14,475 8,509 6,991
Contractual Services 5 ,050 3 ,829 2,953
Administrative Overhead 50,000 50,000 50,000
Other Charges 27 ,563 16 ,346 15 ,096
Total Administration $110,688 $ 92,538 $ 86 ,052
PUMPS AND WELLS:
Personal Services $ 14,000 $ 15 ,079 $ 18,626
Contractual Services 42,500 60,622 37 ,690
Supplies 6,000 4,107 4,509
Total Pumps and Wells $ 62 ,500 $ 79 ,808 $ 60 ,825
DISTRIBUTION:
Personal Services $ 31,000 $ 35 ,192 $ 32,424
Supplies 6 ,000 4,694 4,986
Total Distribution $ 37 ,000 $ 39,886 $ 37,410
Total Operating Expenses $210,188 $212,232 $184,287
v
STRAND
& ROE
-70-
City of Hopkins
Hopkins , Minnesota
WATER UTILITY FUND
SUMMARY OF PROPERTY, PLANT AND EQUIPMENT
As Of December 31, 1976
C 0
Balance
Description 1-1-76 Additions
Land $ 16,247 $
Buildings and Structures 6 ,080
Wells, Tanks and Mains 3 ,220 ,896 27 ,878
Water Meters 63,412 21,543
Vehicles and Equipment 22 ,815 3 ,516
Office Equipment 11,532
Sundry Equipment 6,032 66
Totals $3,347,014 $53,003
-70- EXHIBIT S-4
S T ACCUMULATED DEPRECIATION
Elimi- Balance Balance Elimi- Balance
nations 12-31-76 1-1-76 Deprec , nations 12-31-76
$ $ 16,247 $ $ $ $
(577) 6,657 612 (288) 900
3,248,774 827 ,763 66,108 893,871
14,710 70 ,245 32 ,660 5 ,758 14,710 23 ,708
2,710 23,621 15 ,327 1,616 2 ,010 14,933
8,173 3 ,359 11,044 98 8,173 2,969
577 5 ,521 5 ,603 28 288 5 ,343
$25 ,593 $3,374,424 $892,397 $74,220 $24,893 $941,724
V
STRAND
& ROE
-78-
City of Hopkins
Hopkins, Minnesota
INSURANCE AND BONDS IN FORCE AND PREPAID INSURANCE AND BONDS
As Of December 31, 1976
Policy
Number Date Date
Company Kind Effect. Expires
IST-8462521 The Home Insurance Company Institutional Policy 9-1-75 9-1-78
GA-9268438 The Home Indemnity Company General - Automobile 9-1-76 9-1-77
Liability
PWC-9200968 The Home Insurance Company Workmen's Compensation 9-1-76 9-1-77
VP101714 The Hartford Ins . Group Volunteer Firemen's 9-1-75 9-1-78
Accident
255-U030878 Chicago Insurance Company Umbrella Liability 9-1-76 9-1-77
MN-8316886-01 The Hartford Steam Boiler Boiler 7-1-74 7-1-77
Inspection & Insurance Co.
FID54734 General Ins. Co. of America Blanket Bond
7-1-75 7-1-78
2338651 Safeco Public Official Bond
7-1-75 7-1-78
2338662 Safeco Bonds
2338664 8-1-76 8-1-78
2338661
(A) Annual Premium.
(B) Deposit Premium.
(C) Three-Year Premium Paid.
(D) Two-Year Premium Paid.
(1) 907. Co-Insurance After 9-1-76.
(2) Additional Named Insured: The Housing and Redevelopment Authority, Excluding
the Operation of Any Owned or Leased Real Property.
(3) 100M Any One Covered Auto, 525M All Covered Autos, 250M All Covered Autos Any One Loc.
(4) Policy Not Sighted.
-71- EXHIBIT T
City of Hopkins
Hopkins , Minnesota
SEWER FUND
BALANCE SHEETS
As Of December 31, 1976 and 1975
Assets 12-31-76 12-31-75
CURRENT ASSETS:
Cash $ 47 ,363 $ 119,207
Cash on Deposit with Fiscal Agents 59,703 60,713
Investments (At Cost) 251,934 253,260
Due from Other Governmental Units 50,341 42,508
Accrued Interest Receivable 4,214 4,099
Prepaid Expenses 18,818 20,340
Inventory - Supplies 445 1,184
Total Current Assets $ 432,818 $ 501,311
PROPERTY, PLANT AND EQUIPMENT:
Land $ 5 ,159 $ 5 ,159
Pumps , Mains and Lifts 3 ,143 ,956 3,139,343
Vehicles and Equipment 52 ,528 57 ,101
Office Equipment 1,555 9 ,727
Other Equipment 1,193 1,127
Total Cost $3 ,204,391 $3,212,457
Less: Accumulated Depreciation 794,941 743,726
Net Book Value $2,409,450 $2,468,731
OTHER ASSETS:
Due from Other Governmental Units $ 396,852 $ 415 ,791
Total Assets $3 ,239 ,120 $3,385 ,833
Liabilities , Reserves and Contributions/Retained Earnings
CURRENT LIABILITIES:
Matured Bonds and Interest Payable $ 59,703 $ 60,713
Accounts Payable 191 13 ,329
Accrued Payroll 1,485 1,063
Advance from Municipality - General Obligation Bonds 40,000 40,000
Total Current Liabilities $ 101,379 $ 115 ,105
LONG-TERM DEBT:
Advance from Municipality - General Obligation Bonds -
Due After One Year $ 570,000 $ 610,000
ENCUMBRANCES OUTSTANDING $ 3,000 $ 2 ,700 STRAND
& ROE
RESERVES:
Extraordinary Repairs $ 35 ,000 $ 35 ,000
CONTRIBUTIONS FROM OTHER GOVERNMENTAL UNITS $ 818,144 $ 818,144
CONTRIBUTIONS/RETAINED EARNINGS $1,711,597 $1,804,884
Total Liabilities , Encumbrances, Reserves
and Contributions/Retained Earnings $3 ,239 ,120 $3,385,833
-72- EXHIBIT T-1
City of Hopkins
Hopkins , Minnesota
SEWER FUND
STATEMENT OF CHANGES IN CONTRIBUTIONS/RETAINED EARNINGS
For the Year Ended December 31, 1976
BALANCE - JANUARY 1, 1976 $1,804,884
ADD:
Property, Plant and Equipment
from P.I.R. Fund 4,613
$1,809,497
DEDUCT:
Net Loss for the Year $94,900
Reserve for Road to Valley Lift Station 3 ,000
Total Deductions 97,900
BALANCE - DECEMBER 31, 1976 $1,711,597
STRAND
& ROE
-73- EXHIBIT T-2
City of Hopkins
Hopkins, Minnesota
SEWER FUND
STATEMENT OF REVENUE AND EXPENSE
For the Years Ended December 31, 1976 and 1975
12-31-76 12-31-75
Budget Actual Actual
OPERATING REVENUES:
Customer Sewer Charges $460,000 $358,195 $354,280
Hookups and Permits 10,000 475 10,989
Demolition Credits and Administration Fees 10,000 4,000 569
Rentals - 7 ,328 7,328
Other Charges 2,638 2,363 -
Total Operating Revenues $482 ,638 $372,361 $373,166
LESS: Operating Expenses Before Depreciation 395 ,813 391,995 340,564
Net Operating Income (Loss) Before Deprec . $ 86,825 $(19 ,634) $ 32,602
DEPRECIATION - 63,780 64,300
Net Operating Loss $ 86 ,825 $(83,414) $(31,698)
NON-OPERATING INCOME:
Interest Income $ - $ 27,617 $ 23,235
Gain on Sale of Equipment - 273 -
Total Non-Operating Income $ - $ 27 ,890 $ 23,235
Total Income (Loss) $ 86,825 $(55,524) $ (8,463)
NON-OPERATING EXPENSES:
Interest Expense $ 40,375 $ 39 ,325 $ 41,425
Fiscal Agents' Fees 200 51 54
Total Non-Operating Expenses $ 40,575 $ 39,376 $ 41,479
Net Loss Before Extraordinary Income $ 46,250 $(94,900) $(49,942)
STRAND
EXTRAORDINARY INCOME: & ROE
Unbilled Portion of Prior Period Sewer Usage - - 26,658
Net Loss for the Year $ 46,250 $(94,900) $(23,284)
-74- EXHIBIT T-3
City of Hopkins
Hopkins , Minnesota
SEWER FUND
SCHEDULE OF OPERATING EXPENSES
For the Years Ended December 31, 19•'76 and 1975
12-31-76 12-31-75
Budget Actual Actual
ADMINISTRATION:
Personal Services $ 13,600 $ 18,916 $ 17,439
Supplies 7,300 3,639 5,182
Contractual Services 4,800 5 ,174 2,686
Administrative Overhead 50,000 50,000 50,000
Other Charges 27 ,513 15 ,255 14,651
Total Administration $103,213 $ 92,984 $ 89,958
LIFT STATIONS:
Personal Services $ 16,000 $ 13,363 $ 12,915
Contractual Services 9 ,500 9 ,197 6,434
Supplies 500 46 -
Total Lift Stations $ 26,000 $ 22,606 $ 19 ,349
DISPOSAL:
Personal Services $ 12,000 $ 11,000 $ 12,024
Supplies 5 ,500 1,707 3 ,350
Contractual Services 249,100 263,698 215,883
Total Disposal $266,600 $276,405 $231,257
Total Operating Expenses $395 ,813 $391,995 $340,564
V
STRAND
& ROE
-75-
City of Hopkins
Hopkins , Minnesota
SEWER, FUND
SUMMARY OF PROPERTY , PLANT AND EQUIPMENT
As Of December 31, 1976
C 0
Balance Addi-
Description 1-1-76 tions
Land $ 5 ,159 $
Pumps, Mains and Lifts 3 ,139,343 4,613
Vehicles and Equipment 57,101 2 ,520
Office Equipment 9,727
Sundry Equipment 1,127 66
Totals $3 ,212,457 $7 ,199
-75- EXHIBIT T-4
S T ACCUMULATED DEPRECIATION
Elimi- Balance Balance Elimi- Balance
nations 12-31-76 1-1-76 Deprec. nations 12-31-76
$ $ 5 ,159 $ $ $ $
3 ,143,956 701 ,694 60,098 761,792
7,093 52,528 32,329 3,603 4,393 31,539
8,172 1,555 9,608 32 8,172 1,468
1,193 95 47 142
$15,265 $3,204,391 $743,726 $63,780 $12 ,565 $794,941
V
STRAND
& ROE
-76- EXHIBIT U
City of Hopkins
Hopkins , Minnesota
GENERAL FIXED ASSET GROUP OF ACCOUNTS
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY CLASS
For the Year Ended December 31, 1976
Balance Elimi- Balance
Description 1-1-76 Additions nations 12-31-76
Land $ 927 ,910 $ 33,209 $ $ 961,119
Buildings and Structures 705 ,167 16,710 721,877
Other Improvements 5 ,572,704 168,277 5 ,740,981
Vehicles 690 ,066 65 ,304 755 ,370
Equipment 402,923 26,973 429 ,896
Jointly Held Assets 2,872 2,872
Construction Work in Progress 280,951 414,533 280,951 414,533
Totals $8,582,593 $725,006 $280,951 $9 ,026,648
EXHIBIT U-1
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION
For the Year Ended December 31, 1976
Balance Elimi- Balance
1-1-76 Additions nations 12-31-76
General Government $ 859 ,392 $ 6,294 $ $ 865 ,686
Public Safety 362,316 37 ,980 400,296
Engineering and Streets 5 ,506 ,298 544,096 276,141 5 ,774,253
STRAND
Sanitation and Waste Removal 1,048,319 9 ,910 4,810 1,053,419 & ROE
Recreation and Parks 803 ,396 126,726 930,122
Jointly Held Assets 2,872 2,872
Totals $8,582 ,593 $725 ,006 $280,951 $9 ,026 ,648
"The City has not maintained an up-to-date record of its general fixed assets ."
-77- EXHIBIT V
City of Hopkins
Hopkins , Minnesota
STATEMENT OF GENERAL LONG-TERM DEBT
As Of December 31, 1976
AMOUNT AVAILABLE AND TO BE PROVIDED
FOR THE PAYMENT OF GENERAL LONG-TERM DEBT
SERIAL BONDS:
Amount Available in Debt Service Funds $ 13,630
Amount to be Provided 1,316 ,370
Total Available and to be Provided $1,330,000
GENERAL LONG-TERM DEBT PAYABLE
SERIAL BONDS:
Bonds Payable *$1,330,000
Total General Long-Term Debt Payable $1,330,000
*Includes $600,000 of General Obligation Water Revenue Bonds and
$610,000 of General Obligation Sewer Revenue Bonds which are
serviced by the Water and Sewer Funds.
V
STRAND
& ROE
-78-
City of Hopkins
Hopkins , Minnesota
INSURANCE AND BONDS IN FORCE AND PREPAID INSURANCE AND BONDS
As Of December 31, 1976
Policy Date Date
Number Company Kind Effect . Expires
IST-8462521 The Home Insurance Company Institutional Policy 9-1-75 9-1-78
GA-9268438 The Home Indemnity Company General - Automobile 9-1-76 9-1-77
Liability
PWC-9200968 The Home Insurance Company Workmen's Compensation 9-1-76 9-1-77
VP101714 The Hartford Ins . Group Volunteer Firemen's 9-1-75 9-1-78
Accident
255-U030878 Chicago Insurance Company Umbrella Liability 9-1-76 9-1-77
MN-8316886-01 The Hartford Steam Boiler Boiler 7-1-74 7-1-77
Inspection & Insurance Co .
FID54734 General Ins . Co. of America Blanket Bond 7-1-75 7-1-78
2338651 Safeco Public Official Bond 7-1-75 7-1-78
2338662 Safeco Bonds 8-1-76 8-1-78
2338664
2338661
(A) Annual Premium.
(B) Deposit Premium.
(C) Three-Year Premium Paid.
(D) Two-Year Premium Paid.
(1) 90'/ Co-Insurance After 9-1-76 .
(2) Additional Named Insured: The Housing and Redevelopment Authority, Excluding
the Operation of Any Owned or Leased Real Property.
(3) 100M Any One Covered Auto, 525M All Covered Autos , 250M All Covered Autos Any One Loc .
(4) Policy Not Sighted.
-78- SCHEDULE W-1
Co-
Coverage Amount Cost Prepaid Ins .
All Real and Personal Property as per $2,716,920 (A) $20,568 $13,712.03 (1) 907
Statement of Values on File with the
Home Insurance Company
Deductible for All Perils 100
General Liability: (2)
Bodily Injury 250/500M
Property Damage 100/300M
Contractual Liability:
Bodily Injury 250M
Property Damage 100/300M
Hopkins Public Landfill:
Bodily Injury 250/750M
Property Damage 500M
Personal Injury 500M
Bodily Injury 250/500M (A) 19 ,381 12,920.68
Property Damage 100M
Uninsured Motorists 25/50M
Comprehensive ACV (3)
Collision ACV (3)
Deductible 150
Equipment Floater:
Scheduled Assets 459M
Employees Statutory
Employer 100M (B) 43 ,281 28,854.00
Accident and Indemnity *$50.00 - Weekly (A) 198 132.00
*Maximum 104 Weeks $5 ,000.00 - Maximum
Excess Liability 2,000 ,000 (A) 4,370 2,913 .36
Boilers & Pressure Vessels 250M (C) 459 76.50
Other City Employees (Each) 2,500 (A) (4) 226 113.00
Finance Director 40M (A) 345 172.50
Manager/Treasurer 10M
Clerk/Ass't Cashier 10M
City Engineer 5M
Cashier 5M STRAND
Ass't Cashier 5M & ROE
Assessors: H. E. Richardson 1,000 (D) 60 47 .50
Joseph Hromadko 1,000
E. Kerber 1,000
Total Prepaid Insurance $58,941.57
-79- SCHEDULE W-2
City of Hopkins
Hopkins, Minnesota
ASSESSED VALUATIONS , TAX LEVIES AND MILL RATES
LEVIED IN 1976 1975
COLLECTIBLE IN 1977 1976
ASSESSED VALUATION:
Real Property $76,609 ,100 $71,931,108
Personal Property 1,216 ,169 1,138,458
Totals $77,825 ,269 $73 ,069,566
Less: Fiscal Disparities Contribution (1,877,580) (2,338,328)
Less: Increment Financing (1,657 ,361) (1,027,516)
Plus Fiscal Disparities Distribution 1,204,929 1,318,693
Taxable Valuation $75 ,495 ,257 $71,022,415
TAX LEVY:
General $ 1,532,535 $ 1 ,332,878
Debt Service 22,683 23 ,224
Totals $ 1,555 .218 $ 1,356 ,102
MILL RATES:
General 20.629 18.767
Debt Service .296 .327
Totals 20.925 19 .094
STRAND
& ROE