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1974 City of Hopkins, MN Annual Financial Report REPORT ON AUDIT As Of December 31, 1974 CITY OF HOPKINS Hopkins, Minnesota STRAND & ROE City of Hopkins Hopkins, Minnesota ORGANIZATION 1974 Term Office Name Ex ires MAYOR Henry Pokorny 6-30-75 COUNCILMEN Robert J. McDonald 6-30-75 Donald J. Milbert 6-30-75 James L. Vassar 6-30-77 Jerre A. Miller 6-30-77 CITY MANAGER & TREASURER Terry L. Novak 1-1-74 - 1-31-74 Harold Richardson (Acting) 2-1-74 - 5-31-74 Peter G. Cotton 6-1-74 - 12-31-74 CITY CLERK & DEPUTY TREASURER Harold Richardson CITY ATTORNEY Joseph C. Vesely CITY ENGINEER & DIRECTOR OF PUBLIC WORKS John J. Strojan ASSESSOR Harold Richardson DEPUTY ASSESSOR Joseph H. Hromadko FINANCE OFFICER Dennis M. Baldwin 1-1-74 - 5-27-74 Chris P. Nielsen 5-28-74 - 12-31-74 BUILDING INSPECTOR & ZONING ADMINISTRATOR Raymond Kohnen HOUSING INSPECTOR Firmus J. Opitz HEALTH OFFICER Dr. Herman E. Drill HEALTH SANITATION Robert A. Mood DIRECTOR, HRA Philip Hagedorn 1-1-74 - 4-30-74 Robert Drew 5-1-74 - 12-31-74 POLICE SUPERINTENDENT William F. Proetz FIRE CHIEF Edward Lundgren ✓ STRAND ASSISTANT ENGINEER & CIVIL & ROE DEFENSE DIRECTOR Gordon P. Anderson STREET SUPERINTENDENT Verlyn J. Sletten WATER & SEWER SUPERINTENDENT John A. Brecka 1-1-74 - 7-30-74 Everett Beecher (Acting) 8-1-74 - 12-31-74 WEED INSPECTOR Robert G. Anderson ELECTRICAL INSPECTOR William C. Whitney City of Hopkins Hopkins, Minnesota ORGANIZATION (CONT'D) 1974 Term Office Name Expires RECREATION DIRECTOR Richard L. Wilson OPERATIONS DIRECTOR Everett E. Beecher ZONING & PLANNING COMMISSION Alfred Gaskell* David Arnold 6-30-75 James Hanse 6-30-75 Virginia Mall 6-30-75 James C. Shirley - Chairman* Stanley J. Sidla* Raymond Kohnen ) Terry L. Novak ) Ex-Officio 1-1-74 - 1-31-74 John J. Strojan) Members John Bergly ) James L. Vassar, Councilman Rep. Harold Richardson 2-1-74 - 5-31-74 Peter G. Cotton 6-1-74 - 12-13-74 HOPKINS HOUSING & REDEVELOP- MENT AUTHORITY Philip Hagedorn - Director 1-1-74 - 4-30-74 Robert Drew - Director 5-1-74 - 12-31-74 A. G. Larson, Chairman 6-17-75 Svante H. Severson 6-17-76 Leonard C. Egge* Kenneth Skold 6-17-77 Grover Hagen 6-17-78 Henry Pokorny - Mayor - Council Rep. OMNIBUS COMMISSION: Human Rights Dr. Herman E. Drill 6-30-75 Housing Code Appeals Board Mrs. Floyd M. Alcott 6-30-75 Health & Welfare Mrs. Martin N. Hagen 6-30-75 Mrs. John Frane 6-30-75 Jack Noel 6-30-75 Fred C. Stalley 6-30-75 Rev. Lasse J. Stohl 6-30-75 Willis F. Street 6-30-75 POLICE CIVIL SERVICE COMMISSION John F. Hence Howard S. Marker STRAND Cecil M. Kloss & ROE RECREATION AND PARKS Donald Milbert - Councilman* Chris Christofilis 6-30-75 James Justus 6-30-75 Albin V. Stang 6-30-75 Eugenia Arimond 6-30-75 *Term Expired. Serving Until Successor Appointed. City of Hopkins Hopkins, Minnesota CONTENTS Page FINANCIAL STATEMENTS: Auditors' Opinion 1 EXHIBITS: A - Combined Balance Sheets - All Funds 2 B - Combined Statement of Revenues and Expenditures - Actual Compared to Estimated - General & Special Revenue Funds 3 C - Combined Statement of Changes in Financial Position - Enterprise Funds 4 NOTES TO FINANCIAL STATEMENTS 5 - 6 RECOMMENDATIONS AND COMMENTS 7 SCHEDUT,FS: A-1 - Temporary Investments 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 11 FUND EXHIBITS: GENERAL FUND D - Balance Sheet 12 D-1 - Statement of Changes in Fund Balance 13 D-2 - Statement of Revenues - Actual Compared to Estimated 14 - 15 D-3 - Summary of Expenditures Compared with Authorizations 16 D-4 - Statement of Expenditures Compared with Authorizations 17 - 22 PERMANENT IMPROVEMENT REVOLVING FUND E - Balance Sheet 23 E-1 - Statement of Changes in Fund Balance 24 E-2 - Statement of Cash Receipts & Disbursements 25 E-3 - Project Costs & Means of Financing 26 STRAND SPECIAL ASSESSMENT FUND & ROE F - Balance Sheet 27 F-1 - Statement of Changes in Fund Balance 28 F-2 - Statement of Cash Receipts and Disbursements 29 City of Hopkins Hopkins, Minnesota CONTENTS (CONT'D) Page FUND EXHIBITS: (CONT'D) BOND RETIREMENT FUND G - Balance Sheet 30 G-1 - Statement of Changes in Fund Balance 31 G-2 - Statement of Cash Receipts and Disbursements 32 WATER UTILITY FUND H - Balance Sheet 33 H-1 - Statement of Changes in Contributions/Retained Earnings 34 H-2 - Statement of Revenue and Expense 35 H-3 - Schedule of Operating Expenses 36 H-4 - Summary of Property, Plant and Equipment 37 SEWER FUND I - Balance Sheet 38 I-1 - Statement of Changes in Contributions/Retained Earnings 39 I-2 - Statement of Revenue and Expense 40 I-3 - Schedule of Operating Expenses P g P 41 I-4 - Summary of Property, Plant and Equipment 42 GENERAL FIXED ASSET GROUP OF ACCOUNTS J - Statement of Changes in General Fixed Assets - By Class 43 J-1 - Statement of Changes in General Fixed Assets - By Function 43 K - Statement of Changes in General Long-Term Debt 44 SUPPLEMENTARY SCHEDULES: S-1 - Insurance and Bonds in Force and Prepaid Insurance and Bonds 45 S-2 - Assessed Valuations, Tax Levies and Mill Rates 46 V _ STRAND & ROE 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. STRANDROE Cetiei �abGic c J/ccasatf u .tj 6301 WAYZATA BOULEVARD MINNEAPOLIS, MINNESOTA 55416 545 - 1651 • July 10, 1975 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, 1974, 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, 1974, 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- sistent with that of the preceding year. Respectfully submitted, ' l . STRAND & ROE , STRAND & ROE Certified Public Accountants Field Work Completed: June 6, 1975 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, 1974 Total Memorandum General Assets Only Fund Cash $ 405,219 $ 678,784 Cash with Fiscal Agents 289,378 Temporary Investments 1,100,000 Interest Receivable 22,855 Unremitted Taxes Collected by County 24,752 17,800 Accounts Receivable 91,944 14,705 Taxes Receivable - Current 24,018 Taxes Receivable - Deferred 2,072,532 Taxes Receivable - Delinquent 74,717 72,896 Special Assessment Receivable - Current 297,464 Special Assessment Receivable - Deferred 2,406,344 Special Assessment Receivable - Delinquent 31,150 Due from Other Governmental Units 878,721 124,144 Prepaid Expenses 44,023 23,511 To Be Provided for Authorized Construction 3,392 Authorized Construction to be Assessed 694,309 Due from Other Funds 70,642 65,000 Inventories - Supplies 15,834 3,337 Property, Plant and Equipment - Net 12,730,102 Construction in Progress 521,324 Total Assets $21,798,720 $1,000,177 Liabilities, Reserves & Fund Balances/Retained Earnings Matured Bond and Interest Payable $ 289,378 $ Accounts Payable 86,307 76,124 Contracts Payable 124,490 124,453 Accrued Payroll 41,869 39,410 Due to Other Governmental Units 33,491 Sales Taxes Payable 331 Accrued Payroll Taxes & Employee Deductions 3,070 3,070 Prepaid Revenues 56,176 56,176 Bonds Payable 3,475,000 Future Interest on Bonds 1,240,863 Due to Other Funds 70,642 Reserves - Petty Cash & Inventories 3,510 3,510 Reserves - Unrealized Revenue 94,523 94,523 Reserves - Trust Funds 2,084 1,954 Reserves - Unexpended Project Authorization 439,056 Reserves - Uncollectible Taxes 100,773 Reserves - Encumbrances 49,800 34,800 Reserves - Extraordinary Repairs 32,756 Fund Balance - Appropriated - Park Construction 214,675 214,675 Fund Balance - Appropriated - Real Property Purchases & Sales 359,626 359,626 Fund Balance - Appropriated - Shady Oak Beach Concessions 11,564 11,564 Fund Balance - Appropriated - Principal Balance 830,000 Fund Balance - Unappropriated 251,362 (19,708) Contributions from Other Governmental Units 1,148,032 Contributions/Retained Earnings 4,604,419 Invested in General Fixed Assets 8,234,923 Total Liabilities, Reserves & Fund Balances/Retained Earnings $21,798,720 $1,000,177 "The accompanying notes to the financial statements are an integral part of this report." -2- EXHIBIT A Special Permanent Assess- Bond Water Sewer General General Improvement ment Retirement Utility Utility Fixed Long-Term Fund Fund Fund Fund Fund Assets Debt $ (436,347) $ 7,843 $ 4,567 $ (252,615) $ 402,987 $ $ 202,808 2,030 19,650 900 63,990 1,100,000 22,855 6,925 27 77,239 24,018 2,072,532 1,821 297,036 428 2,406,344 31,150 754,577 20,512 3,392 694,309 5,642 9,868 2,629 2,503,423 2,513,080 7,713,599 521,324 $4,328,472 $10,328 $50,056 $2,344,457 $3,757,775 $8.,234,923 $2,072,532 $ 202,808 $ 2,030 $19,650 $ 900 $ 63,990 $ $ 8,519 1,664 37 4 1,574 881 33,491 331 1,915,000 15,000 80,000 40,000 1,425,000 613,870 8,513 29,120 41,425 547,935 70,642 130 439,056 1,176 99,597 v 15,000 STRAND 32,756 & ROE 830,000 257,055 8,298 5,717 1,148,032 2,208,883 2,395,536 8,234,923 $4,328,472 $10,328 $50,056 $2,344,457 $3,757,775 $8,234,923 $2,072,532 -3- EXHIBIT B City of Hopkins Hopkins, Minnesota GENERAL AND SPECIAL REVENUE FUNDS COMBINED STATEMENT OF REVENUES AND EXPENDITURES - ACTUAL COMPARED TO ESTIMATED For the Year Ended December 31, 1974 Actual (Over) Under Revenues Actual Estimated Estimated General Property Taxes $ 900,473 $1,046,473 $146,000 Licenses and Permits 97,688 101,590 3,902 Fines and Forfeitures 44,166 43,400 (766) Intergovernmental Revenue 794,401 482,179 (312,222) Charges for Current Services 220,827 178,488 (42,339) Use of Money and Property 9,931 15,050 5,119 Miscellaneous 10,631 - (10,631) Transfers from Other Funds 162,065 565,628 403,563 Total Revenues $2,240,182 $2,432,808 $192,626 Expenditures General Government $ 346,440 $ 350,222 $ 3,782 Public Safety 536,318 563,592 27,274 Public Works 349,154 385,729 36,575 Sanitation and Waste Removal 224,896 222,872 (2,024) Health & Welfare 9,466 10,566 1,100 Historical Society 1,224 2,775 1,551 Parks and Recreation 361,065 323,850 (37,215) Other Functions: Employee Benefits $ 159,524 $ 126,271 $(33,253) Insurance 45,010 23,711 (21,299) Unallocated - 400,000 400,000 Non-Departmental 345,232 23,220 (322,012) Total Other Functions $ 549,766 $ 573,202 $ 23,436 PI Total Expenditures $2,378,329 $2,432,808 $ 54,479 STRAND & ROE "The accompanying notes to the financial statements are an integral part of this report." -4- City of Hopkins Hopkins, Minnesota COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ENTERPRISE FUNDS For the Years Ended December 31, 1974 and 1973 Combined 1974 1973 WORKING CAPITAL PROVIDED FROM: Net (Loss) Income from Income Statements ($158,856) $ 55,999 Add: Expenses Not Requiring Outlay of Working Capital in the Current Period: Depreciation 133,022 130,077 Loss on Sale of Equipment 205 Working Capital Provided from Operations for the Period, Exclusive of Extraordinary Items $(25,629) $186,076 Collections from Other Governmental Units 28,275 27,454 Proceeds from Sale of Equipment 679 Final Adjustment of 1972 Sewer Board Cost Allocation 16,404 Total Working Capital Provided $ 3,325 $229,934 WORKING CAPITAL APPLIED: Outlays for Purchase of Long-Term Assets: Wells, Tanks and Mains $ 2,424 $ 5,078 Equipment 21,063 5,126 Share of P.I.R. Project Costs 8,318 65,882 Bonds Due Within One Year 100,000 103,000 Final Adjustment of 1973 Metro Sewer Board Cost Allocation 34,271 Eliminate Rent Due on Lift Station 7,328 Increase in Trust Funds 25 Transfers to Other Funds 80,000 Total Working Capital Applied $166,076 $266,439 NET (DECREASE) INCREASE IN WORKING CAPITAL ($162,751) $(36,505) NET CHANGES IN WORKING CAPITAL: INCREASE (DECREASE) IN CURRENT ASSETS: Cash $150,272 $ Due from Other Funds (505,297) (1,573,731) Due from Other Governmental Units (9,313) (113,868) Accounts Receivable 11,277 14,595 Prepaid Expenses 6,834 8,112 Inventories 1,631 (2,950) Net Changes in Current Assets ($344,596) ($1,667,842) INCREASE (DECREASE) IN CURRENT LIABILITIES: Accounts Payable $ (3,495) $ 13,678 Bonds Payable (3,000) Accrued Liabilities (1,039) 1,973 Due Other Funds (207,802) (1,646,988) Due Other Governmental Units 33,491 Net Changes in Current Liabilities ($181,845) ($1,631,337) • NET (DECREASE) INCREASE IN WORKING CAPITAL - AS ABOVE ($162,751) $ (36,505) "The accompanying notes to the financial statements are an integral part of this report." -4- EXHIBIT C Water Fund Sewer Fund 1974 1973 1974 1973 $(68,263) $(16,011) $(90,593) $ 72,010 69,293 70,178 63,729 59,899 205 $ 1,235 $ 54,167 $(26,864) $ 131,909 28,275 27,454 679 16,404 $ 1,914 $ 54,167 $ 1,411 $ 175,767 $ 2,424 $ 5,078 $ $ 14,509 4,138 6,554 988 8,318 54,864 11,018 60,000 63,000 40,000 40,000 34,271 7,328 25 40,000 40,000 $ 85,251 $167,105 $ 80,825 $ 99,334 $(83,337) ($112,938) $(79,414) $ 76,433 ($252,715) $ $402,987 $ (49,046) (671,354) (456,251) (902,377) (9,313) (113,868) 11,277 14,595 6,834 8,112 2,400 (5,815) (769) 2,865 ($288,084) ($662,574) $(56,512) ($1,005,268) 1,0 STRAND $ (2,999) $ 11,518 $ (496) $ 2,160 a ROE (3,000) (964) 1,017 (75) 956 (197,784) (562,171) (10,018) (1,084,817) 33,491 ($204,747) ($549,636) $ 22,902 ($1,081,701) $(83,337) ($112,938) $(79,414) $ 76.433 -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) Assets and liabilities of the various funds and revenues and expenditures of the General and Enterprise funds are recognized on the accrual basis. Operations for the other funds are recognized on a cash basis of accounting. (C) Supply inventories are valued at the lower of cost or market on the first-in, first-out basis. (D) Property, plant and equipment are valued principally at cost. Depreciation is provided over the estimated useful lives of the various properties of the enterprise funds on the straight-line basis. No depreciation 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 retired 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 the assets at their book value and no gain or loss is recorded. (E) Investments are carried at cost. Interest is recognized when earned. y STRAND & ROE NOTE 2 - COLLATERAL SECURITY As of December 31, 1974, the depository had pledged securities to safe- guard City funds on deposit as follows: -6- City of Hopkins First National Bank of Hopkins: Municipal Bond $200,000 U. S. Treasury Bonds 326,000 F.D.I.C. 40,000 Total $566,000 Northwestern National Bank of Hopkins: State and Municipal Bond $735,000 F.D.I.C. 40,000 Total $775,000 NOTE 3 - CONTINGENT LIABILITIES An appeal is pending in the Hennepin County District Court and in the Supreme Court from the spreading of certain special assessments. This is not an action in damages but an appeal by certain property owners to prevent the levies as to their specific properties. NOTE 4 - CASH AND INTER-FUND BALANCES Prior to this year under review all cash receipts and disbursements were summarized in the General Fund through the use of inter-fund transfer accounts. During the current year the procedure has been changed so that cash receipts and disbursements are recorded separately for each fund. Cash and inter-fund balances as presented in the audit report for the year ended December 31, 1971, being the opening account balance for our current period of audit examinations, have been accepted without further verification. v STRAND & ROE -7- City of Hopkins RECOMMENDATIONS AND COMMENTS We offer the following recommendations and comments in connection with your operations. 1. Eight Housing and Redevelopment Authority Bonds with a face value of $40,000.00 should be placed in escrow with a bank as required by the Sanitary landfill license issued by Hennepin County. 2. Receipt and expenditure of Federal Revenue Sharing funds should be handled through a separate fund. We understand this has been implemented since the year end. 3. General fixed asset cards should be brought up to date. 4. Bid procedures for items costing between $2,000.00 and $5,000.00 are not always adhered to. When it is considered necessary to deviate from the required procedures, there should be placed on file with the invoice, a signed statement prepared by an authorized individual, stating the reason why the procedure could not be followed. 5. All requests for reimbursement of expenses to individuals should set forth details of the expenses paid by the individual. N 6. The procedures followed for the collection and recording of the recreation department receipts appear to be weak. We suggest that these procedures be reviewed by the finance department. Considera- tion should be given to obtaining a different type of cash register. v STRAND & ROE -8- SCHEDULE A-1 City of Hopkins Hopkins, Minnesota TEMPORARY INVESTMENT As Of December 31, 1974 Date Due Int. Acquired Description Number Date Rate Amount Sale and Repurchase Agreements: 12-18-74 N. W. National Bank of Hopkins 107 1- 8-75 8 3/47 $ 130,000 Certificate of Deposit: 11-27-74 First National Bank of Hopkins 1937 1- 8-75 8 7/8% 150,000 12-16-74 N. W. National Bank of Hopkins 5740 1-15-75 8 3/470 320,000 12-11-74 N. W. National Bank of Hopkins 5745 1-22-75 8 3/470 140,000 12-31-74 N. W. National Bank of Hopkins 5764 2- 5-75 8% 90,000 Bonds: 1971 Hopkins Housing & Redevelopment Authority 1974-84 6.997. 270,000 Total Temporary Investments $1,100,000 V STRAND & ROE -9- SCHEDULE A-2 City of Hopkins Hopkins, Minnesota DUE FROM OTHER GOVERNMENTAL UNITS As Of December 31, 1974 Due From For Amount GENERAL FUND: City of Minnetonka Recreation Program $ 17,995 Hopkins Housing & Tax Increment Financial Redevelopment Authority Projects 69,770v Hopkins Housing & Redevelopment Authority Commodities & Services 1,035 Hennepin County Fines 6,691 Hennepin County Commodities & Services 695 State of Minnesota Municipal State Aid - Roads 23,007 State of Minnesota Engineering Services 4,000 State of Minnesota Commodities & Services 482 HUD Expended on Community Development Program 469 Total General Fund $124,144 SEWER FUND: Metropolitan Sewer Board Fixed Assets $713,803 Metropolitan Sewer Board Deferred Charges 33,683 Metropolitan Sewer Board SAC Charges 4,829 Metropolitan Sewer Board Lift Station Rent 2,262 Total Sewer Fund 754,577 Total Due from Other Governmental Units $878,721 STRAND & ROE -10- SCHEDULE A-3 City of Hopkins Hopkins, Minnesota CONSTRUCTION WORK IN PROGRESS As Of December 31, 1974 GENERAL FIXED ASSETS Street Construction: Project No. 72-05 $ 2,942 Project No. 72-26a 15,136 $ 18,078 Concrete Alleys: Project No. 73-17 8,026 Street Surfacing: Project No. 73-19 226 Curb and Gutter: Project No. 73-20 373 Street Lights: Project No. 601 $ 719 Project No. 71-15 323,053 Project No. 73-04 4,548 328,320 Parking Lots 161,491 Storm Sewer: Project No. 72-26c 4,810 Total Construction Work in Progress $521,324 V STRANC & ROE -11- City of Hopkins Hopkins, Minnesota BONDS AND INTEREST MATURITIES, MEANS OF FINANCING AND RESERVE FOR UNCOLLECTIBLE TAXES - SUMMARY As Of December 31, 1974 BONDS Total Final INTEREST to be Maturity Amount Rates Amount Paid PERMANENT IMPROVEMENT REVOLVING FUND Issue of 4-1-64 1984 $ 115,000 2.9 - 3.2% $ 12,335 $ 127,335 Issue of 7-1-72 1992 1,800,000 4.1 - 5.2% 601,535 2,401,535 Total $1,915,000 $ 613,870 $2,528,870 BOND RETIREMENT FUND Park Bonds of 7-1-70 (1) $ 15,000 5 - 6% $ 8,513 $ 23,513 WATER UTILITY FUND Issue of 6-1-57 1976 $ 40,000 4.5% $ 1,800 $ 41,800 Water Revenue Bonds of 6-1-67 (2) 40,000 27,320 67,320 Total $ 80,000 $ 29,120 $ 109,120 SEWER UTILITY FUND Sewer Revenue Bonds of 7-1-70 (3) $ 40,000 $ 41,425 $ 81,425 GENERAL LONG-TERM DEBT Water Revenue Bonds of 6-1-67 1988 $ 680,000 3.9 - 4.2% $ 211,180 $ 891,180 Sewer Revenue Bonds of 7-1-70 1991 690,000 5 - 6.5% 373,225 1,063,225 Park Bonds of 7-1-70 1983 150,000 5 - 6% 40,787 190,787 Sub-Total $1,520,000 $ 625 ,192 $2,145,192 Less: Current Portion Payable by Other Funds: Park Bonds of 7-1-70 (1) (15,000) (8,512) (23,512) Water Revenue Bonds of 6-1-67 (2) (40,000) (27,320) (67,320) Sewer Revenue Bonds of 7-1-70 (3) (40,000) (41,425) (81,425) Total $1,425,000 $ 547,935 $1,972,935 Total - All Funds $3,475,000 $1,240,863 $4,715,863 (1) Current portion of Park Bonds payable from Bond Retirement Fund. (2) Current portion of 1967 Water Revenue Bonds payable from Water Fund. (3) Current portion of 1970 Sewer Revenue Bonds payable from Sewer Fund. (4) Levy collectible in 1975 cancelled by Council action; it is anticipated that levies will be cancelled each year and payments made from water and sewer revenues. (5) Includes payments due January 1, 1976 since deposit will be made with fiscal agents in December of 1975. -11- SCHEDULE A-4 MEANS OF FINANCING General P.I.R. & Reserve Taxes Current Water & Special for Uncol- to be Payments Funds & Sewer Assessment Deferred lectible Collected Due During 1975 Levy Revenues Funds Tax Levies Taxes in 1975 Principal Interest $ 127,335 $ 20,000 $ 3,260 2,401,535 (5) 150,000 80,335 $2,528,870 $170,000 $ 83,595 $24,689 $ 1,176 $ 15,000 $ 8,512 $ 41,800 $ 20,000 $ 1,350 67,320 40,000 27,320 $109,120 $ 60,000 $ 28,670 $ 81,425 $ 40,000 $ 41,425 $ $ 67,320 $ 866,000 $ 42,140 $ (4) $ 40,000 $ 27,320 81,425 1,030,893 49,093 (4) (5) 40,000 41,425 23,512 175,639 8,364 24,018 (5) 15,000 8,512 $23,512 $148,745 $2,072,532 $ 99,597 $24,018 $ 95,000 $ 77,257 (23,512) (15,000) (8,512) (67,320) (40,000) (27,320) (81,425) (40,000) (41,425) $ - $ - $2,072,532 $ 99,597 $24,018 $ - $ - $24,689 $190,545 $2,528,870 $2,072,532 $100,773 $24,018 $285,000 $162,202 V STRAND & ROE -12- EXHIBIT D City of Hopkins Hopkins, Minnesota GENERAL FUND BALANCE SHEET As Of December 31, 1974 ASSETS Cash $ 678,784 l Accounts Receivable 14,705 Due from Other Governmental Units 124,144 1 s Unremitted Taxes Collected by County 17,800 ` Taxes Receivable - Delinquent 72,896 IS. � Prepaid Expenses 23,511 Inventory - Office Supplies 3,337 Due from Other Funds 65,000 , Total Assets $1,000,177 LIABILITIES, RESERVES AND FUND BALANCE Accounts Payable $ 76,124 Contracts Payable 124,453 Accrued Payroll 39,410 Accrued Payroll Taxes & Employee Deductions 3,070 Prepaid Revenues 56,176 Reserves: Petty Cash and Inventories 3,510 Unrealized Revenues 94,523 Trust Funds 1,954 Encumbrances 34,800 Fund Balance - Appropriated: Shady Oak Beach Concession $ 11,564 Park Construction 214,675 Real Property Purchases and Sales 359,626 Total Appropriated $585,865 Fund Balance - Unappropriated (19,708) 566,157 STRAND & ROE Total Liabilities, Reserves & Fund Balance $1,000,177 -13- City of Hopkins Hopkins, Minnesota STATEMENT OF CHANGES IN FUND BALANCES For the Year Ended December 31, 1974 Total APPROPRIATED BALANCE - JANUARY 1, 1974 $602,459 ADD: Receipts: Beach Concessions 4,244 BALANCE $606,703 DEDUCT: Disbursements: Beach Concessions $ 2,622 Permits and Appraisals 2,266 Appropriations Closed to Fund Balance - Unappropriated 15,950 Total Deductions $ 20,838 BALANCE - DECEMBER 31, 1974 $585,865 UNAPPROPRIATED BALANCE - JANUARY 1, 1974 ADDITIONS: Write Off Old Outstanding Checks Correct Prior Year's Coding Appropriated Fund Balances Closed Out 1974 Expenditures Charged to Appropriated Funds Due from PIR Fund for Parking Lot Site DEDUCTIONS: Excess of Expenditures Over Revenues: Expenditures - Exhibit D-3 Revenues - Exhibit D-2 Correct Beginning Balance of Deferred Licenses Adjust Expense Advance Balance Reclassification of Miscoded Payments Adjustment of Hopkins Plumbing & Heating Invoice Vacation and Sick Leave due Former Library Employees Unencumbered State Aid Road Funds Special Assessments on Hennepin County Property Cancelled BALANCE - DECEMBER 31, 1974 (DEFICIT) -13- EXHIBIT D-1 Real Shady Oak Property HRA Beach Park Purchases 1973 Trail Concession Construction and Sales Budget Funds $ 9,942 $216,941 $359,626 $10,000 $5,950 4,244 $14,186 $216,941 $359,626 $10,000 $5,950 $ 2,622 $ $ $ $ 2,266 10,000 5,950 $ 2,622 ^ $ 2,266 $ - $10,000 $5,950 /$11,564 $214,675 $359,626 $ - $ - $107,384 $ 1,543 53 15,950 2,266 65,000 84,812 $192,196 $2,378,329 2,240,182 $138,147 26,161 40 45 497 STRAND & ROE 7,777 21,628 ✓ 17,609 211,904 $(19,708) r -14- EXHIBIT D-2 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF REVENUES - ACTUAL COMPARED TO ESTIMATED For the Year Ended December 31, 1974 Actual (Over) REVENUE Under ' Actual Estimated Estimated ' ,GENERAL PROPERTY TAXES: Current Ad Valorem $ 878,026 $1,045,473 $167,447 Delinquent Ad Valorem 19,442 750 (18,692) Penalties and Interest 3,005 250 (2,755) $ 900,473 ✓ $1,046,473 $146,000 LICENSES AND PERMITS: Business $ 59,033 $ 48,453 $(10,580) Non-Business 38,655 53,000 14,345 Street Use - 137 137 $ 97,688 $ 101,590 $ 3,902 FINES AND FORFEITURES: Court Fines $ 44,161 $ 43,000 $ (1,161) Forfeitures 5 400 395 $ 44,166 $ 43,400 $ (766) INTERGOVERNMENTAL REVENUES: Mortgage Registry $ - $ 1,260 $ 1,260 State Aid - Road Maintenance 12,165 11,000 (1,165) State Aid - Road Construction 113,056 - (113,056) Mobile Home Registry 634v 1,100 466 Homestead Distribution Credit 112,220' - (112,220) Local Government Aid 425,316 407,819 (17,497) Federal Revenue Sharing 64,549 61,000 (3,549) HRA - Tax Increment Financing 66,461 - (66,461) $ .794,401 $ 482,179 ($312,222) CHARGES FOR CURRENT SERVICES: General Government $ 1,709 $ 1,575 $ (134) Public Safety 55,418 38,700 (16,718) Recreation 163,700 138,213 (25,487) $ 220,827 $ 178,488 $(42,339) USE OF MONEY AND PROPERTY: Interest - Temporary Idle Funds $ 1,248 $ 15,000 $ 13,752 Rents 8,368 (8,368) Commissions 315 50 (265) $ 9,931 $ 15,050 $ 5,119 V MISCELLANEOUS: STRAND Sale of Property and Equipment $ 2,199 $ - $ (2,199) & ROE Other 8,432 - (8,432) $ 10,631 $ - $(10,631) Total (Other Than Transfers) - Forwarded $2,078,117 $1,867,180 ($210,937) -15- EXHIBIT D-2 Page 2 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF REVENUES - ACTUAL COMPARED TO ESTIMATED For the Year Ended December 31, 1974 Actual (Over) REVENUE Under Actual Estimated Estimated Total (Other Than Transfers) - Brought Forward $2,078,117 $1,867,180 ($210,937) TRANSFERS FROM OTHER FUNDS: Parking Fund $ - $ 2,500 $ 2,500 P.I.R. Overhead Transfer (3,935) 37,500 41,435 Water Utility Fund 50,000 50,000 - Sewer Utility Fund 50,000 50,000 - P.I.R. Investment 66,000 425,628 359,628 $ 162,065 $ 565,628 $403,563 Total. Revenues $2,240,182 $2,432,808 $192,626 V ST RANO & ROE 1 -16- EXHIBIT D-3 City of Hopkins Hopkins, Minnesota GENERAL FUND SUMMARY OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under Council $ 23,254 $ 19,275 $ (3,979) City Manager 36,395 52,638 16,243 City Clerk 21,948 20,260 (1,688) Elections 25,570 2,934 (22,636) Legal Services 22,569 24,300 1,731 Court Services 7,546 4,500 (3,046) Assessing 26,165 40,509 14,344 Zoning and Planning 21,687 15,390 (6,297) Purchasing 3,063 7,165 4,102 Finance and Accounting 67,260 54,454 (12,806) Municipal Building Maintenance 55,277 58,434 3,157 Municipal Garage 35,706 50,363 14,657 Police Protection 420,685 439,569 18,884 Fire Protection 54,400 63,805 9,405 Inspection Service 59,555 58,830 (725) Civil Emergencies 127 638 511 Animal Control 1,551 750 (801) Engineering 64,801 75,627 10,826 Street Administration 97,877 53,229 (44,648) Streets and Alleys 51,930 121,652 69,722 Snow and Ice Removal 15,408 33,900 18,492 O.S.H.A. 3,741 - (3,741) Traffic Signs and Signals 45,455 32,355 (13,100) Street Lighting and Tree Service 69,942 68,966 (976) Storm Sewers, Street Cleaning & Weed Control 46,167 54,703 8,536 Refuse Collection and Disposal 178,729 168,169 (10,560) Health and Welfare 9,466 10,566 1,100 Historical Society 1,224 2,775 1,551 Parks and Recreation: Administration $ 73,251 $ 71,726 $ (1,525) Classes 50,889 42,150 (8,739) Activities - Adults 16,387 10,165 (6,222) Activities - Youth 15,166 13,788 (1,378) Ice Rinks 8,388 9,052 664 Beaches 20,427 21,957 1,530 Swimming Instruction 23,227 18,700 (4,527) Playgrounds 22,282 16,757 (5,525) V Municipal Parks 131,048 119,555 (11,493) STRAND & ROE Total Parks and Recreation $ 361,065 $ 323,850 $(37,215) Employee Benefits 159,524 126,271 (33,253) Insurance Expense 45,010 23,711 (21,299) Unallocated 313 400,000 399,687 Non-Departmental 344,919 23,220 (321,699) Total Expenditures $2,378,329 $2,432,808 $ 54,479 -17- EXHIBIT D-4 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under GENERAL GOVERNMENT: Mayor and Council: Personal Services $ 12,383 $ 10,800 $ (1,583) Contractual Services 9,504 •, 5,800 (3,704) Commodities 1,167,, 1,175 8 Other Charges 200v 1,500 1,300 $ 23,254 $ 19,275 $ (3,979) City Manager: Personal Services $ 24,437v $ 40,179 $ 15,742 Contractual Services 3,136v 7,525 4,389 Commodities 1,083k 1,325 242 Other Charges 6,819 , 2,924 (3,895) Capital Outlay 920 . 685 (235) City Clerk: $ 36,395 $ 52,638 $ 16,243 Personal Services $ 18,636✓ $ 18,500 $ (136) Contractual Services 1,647v 1,305 (342) Commodities 1,414v 395 (1,019) Other Charges 251 60 (191) $ 21,948 $ 20,260 $ (1,688) Elections: Personal Services $ 7,3631 $ 2,424 $ (4,939) Contractual Services 12✓ 350 338 Commodities 2,810v 160 (2,650) Capital Outlay 15,385 v - (15,385) $ 25,570 $ 2,934 $(22,636) Legal Services: Personal Services $ 21,972v $ 24,000 $ 2,028 Contractual Services 246/ 25 (221) Commodities 23 ✓ 125 102 Other Charges 328 ./ 150 (178) $ 22,569 $ 24,300 $ 1,731 Court Services: Personal Services $ 582✓ $ - $ (582) Contractual Services 6,964,. 4,500 (2,464) $ 7,546 $ 4,500 $ (3,046) STRAND Assessing: Er ROE Personal Services $ 24,157 ✓ $ 38,064 $ 13,907 Contractual Services 1,091v 1,730 639 Commodities 797✓ 490 (307) Other Charges 120 ,:' - (120) Capital Outlay - 225 225 $ 26,165 $ 40,509 $ 14,344 -18- EXHIBIT D-4 Page 2 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under GENERAL GOVERNMENT: (CONT'D) Zoning and Planning: Personal Services $ 4,373 v $ 7,490 $ 3,117 Contractual Services 16,807 „' 7,400 (9,407) Commodities 507 %/ 500 (7) $ 21,687 $ 15,390 $ (6,297) Purchasing: Personal Services $ 2,696 , $ 6,340 $ 3,644 Contractual Services 156v 475 319 Commodities 211v 350 139 $ 3,063 $ 7,165 $ 4,102 Finance and Accounting: Personal Services $ 54,662 ✓ $ 47,554 $ (7,108) Contractual Services 5,256v 3,848 (1,408) Commodities 6,244 ✓ 975 (5,269) Other Charges 182 , 97 (85) Capital Outlay 916v, 1,980 1,064 $ 67,260 $ 54,454 $(12,806) Municipal Building: Personal Services $ 26,444✓ $ 29,118 $ 2,674 Contractual Services 25,739sk 24,626 (1,113) Commodities 2,952v 4,445 1,493 Capital Outlay 142v 245 103 $ 55,277 $ 58,434 $ 3,157 Municipal Garage: Personal Services $ 29,447, $ 38,053 $ 8,606 Contractual Services 234k 7,510 7,276 Commodities 4,020 ✓ 4,000 (20) Capital Outlay 2,005v 800 (1,205) $ 35,706 $ 50,363 $ 14,657 Total General Government $ 346,440 $ 350,222 $ 3,782 PUBLIC SAFETY: Police Protection: Personal Services $ 370,434, $ 390,810 $ 20,376 Contractual Services 7,942, 11,356 3,414 yo Commodities 31,343v' 18,500 (12,843) STRAND Other Charges 1,333v 4,245 2,912 5 ROE Capital Outlay 9,633v 14,658 5,025 $ 420,685 $ 439,569 $ 18,884 Fire Protection: Personal Services $ 23,352✓ $ 35,020 $ 11,668 Contractual Services 5,865+ 5,144 (721) Commodities 4,875✓ 5,321 446 Other Charges 16,752 ✓ 2,100 (14,652) Capital Outlay 3,556v 16,220 12,664 $ 54,400 $ 63,805 $ 9,405 -19- EXHIBIT D-4 Page 3 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under PUBLIC SAFETY: (CONT'D) Inspection Service: Personal Services $ 55,832v/ $ 55,215 $ (617) Contractual Services 3,020✓ 3,140 120 Commodities 483 ✓ 350 (133) Other Charges 220✓ 125 (95) $ 59,555 $ 58,830 $ (725) Civil Emergencies: Personal Services $ 117v $ 300 $ 183 Contractual Services 10 , 338 328 $ 127 $ 638 $ 511 Animal Control: Contractual Services $ 1,551 , $ 750 $ (801) Total Public Safety $ 536,318 $ 563,592 $ 27,274 PUBLIC WORKS: Engineering: Personal Services $ 56,297 , $ 49,671 $ (6,626) Contractual Services 6,324' 24,181 17,857 Commodities 1,888✓ 1,075 (813) Other Charges 179 200 21 Capital Outlay 113 . 500 387 $ 64,801 $ 75,627 $ 10,826 Street Administration: Personal Services $ 53,684✓ $ 7,308 $(46,376) Contractual Services 6,547 •" 1,589 (4,958) Commodities 30,256k 30,882 626 Other Charges 130 250 120 Capital Outlay 7,260 13,200 5,940 $ 97,877 $ 53,229 $(44,648) Streets and Alleys: Personal Services $ 16,134v $ 75,402 $ 59,268 Contractual Services 16,069 , 21,250 5,181 Commodities 16,300v 19,500 3,200 Capital Outlay 3,427 , 5,500 2,073 $ 51,930 $ 121,652 $ 69,722 po Snow and Ice Removal: STRAND Personal Services $ 10754 ,�, $ 25,900 $ 15,146 & ROE Contractual Services - 750 750 Commodities 4654 / 7,250 2,596 $ 15,408 $ 33,900 $ 18,492 O,S.H,A. : Personal Services $ 716v $ - $ (716) Contractual Services 333 - - (333) Commodities 315, - (315) Other Charges 1,823' - (1,823) Capital Outlay 554 - (554) $ 3,741 $ - $ (3,741) -20- EXHIBIT D-4 Page 4 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under PUBLIC WORKS: (CONT"D) Traffic Signs and Signals: Personal Services $ 10,739 ✓ $ 15,690 $ 4,951 Contractual Services 12,842 / 11,500 (1,342) Commodities 5,524 ✓ 4,600 (924) Capital Outlay 16,350v 565 (15,785) $ 45,455 $ 32,355 $(13,100) Street Lighting & Tree Service: Personal Services $ 25,6331` $ 21,616 $ (4,017) Contractual Services 43,089v 45,350 2,261 Commodities 1,220v 2,000 780 $ 69,942 $ 68,966 $ (976) Total Public Works $ 349,154 $ 385,729 $ 36,575 SANITATION AND WASTE REMOVAL: Storm Sewers, Street Cleaning & Weed Control: Personal Services $ 17,837 ✓ $ 13,803 $ (4,034) Commodities - 900 900 Capital Outlay 28,330v 40,000 11,670 $ 46,167 $ 54,703 $ 8,536 Refuse Collection & Disposal: Personal Services $ 122,564✓ $ 95,334 $(27,230) Contractual Services 2,604 ! 3,725 1,121 Commodities l8,261✓ 31,910 13,649 Other Charges 500✓ 2,400 1,900 Capital Outlay 34,800v 34,800 - $ 178,729 $ 168,169 $(10,560) Total Sanitation & Waste Removal $ 224,896 $ 222,872 $ (2,024) HEALTH AND WELFARE: Personal Services $ 6,092 ✓ $ 6,000 $ (92) Contractual Services 3,374v 4,566 1,192 Total Health and Welfare $ 9,466 $ 10,566 $ 1,100 HISTORICAL SOCIETY: Personal Services $ 132 ✓ $ 400 $ 268 Contractual Services 421 v" 820 399 v Commodities 57✓ 335 278 STRAND & ROE Capital Outlay 614 v 1,220 606 Total Historical Society $ 1,224 $ 2,775 $ 1,551 -21- EXHIBIT D-4 Page 5 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under PARKS AND RECREATION: Administration: Personal Services $ 58,607• $ 59,121 $ 514 Contractual Services 9,191', 7,305 (1,886) Commodities 3,203 ,' 2,500 (703) Other Charges 508 %, 250 (258) Capital Outlay 1,742 , 2,550 808 $ 73,251 $ 71,726 $ (1,525) Classes: Personal Services $ 47,917 : $ 36,950 $(10,967) Commodities 47v 200 153 Other 2,925 ,. 5,000 2,075 $ 50,889 $ 42,150 $ (8,739) Activities - Adults: Personal Services $ 10,913v $ 8,025 $ (2,888) Contractual Services 1,666v 565 (1,101) Commodities 2,885 -. 945 (1,940) Other Charges 923 • 630 (293) $ 16,387 $ 10,165 $ (6,222) Activities - Youth: Personal Services $ 11,672 $ 11,908 $ 236 Commodities 2,829" 1,230 (1,599) Other 665 ; 650 (15) $ 15,166 $ 13,788 $ (1,378) Ice Rinks: Personal Services $ 8,200 ✓ $ 8,902 $ 702 Commodities 188 %, 150 (38) $ 8,388 $ 9,052 $ 664 Beaches: Personal Services $ 17,940 ✓ $ 19,575 $ 1,635 Contractual Services 806 °Y 932 126 Commodities 1,681, 1,450 (231) $ 20,427 $ 21,957 $ 1,530 Swimming Instructions: Personal Services $ 22,208v $ 18,000 $ (4,208) Commodities 1,019 v 700 (319) ✓ STRAND $ 23,227 $ 18,700 $ (4,527) & ROE Playgrounds: Personal Services $ 17,440 $ 11,482 $ (5,958) Commodities 3,634, 3,825 191 Other Charges 1,208', 1,450 242 $ 22,282 $ 16,757 $ (5,525) 1 1 1 -22- EXHIBIT D-4 Page 6 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS For the Year Ended December 31, 1974 Appropri- (Over) Description Expenditures ations Under PARKS AND RECREATION: (CONT'D) Municipal Parks: Personal Services $ 70,665\ $ 57,175 $(13,490) Contractual Services 5,490,, 5,105 (385) Commodities 12,206v 12,300 94 Capital Outlay 42,687v 20,000 (22,687) Debt Service - 24,975 24,975 $ 131,048 $ 119,555 $(11,493) Total Parks and Recreation $ 361,065 $ 323,850 $(37,215) EMPLOYEE BENEFITS: P.E,R.A., $ 99,357 $ 83,866 $(15,491) F.I.C.A. 28,423 20,529 (7,894) Health Insurance 31,744 21 876 (9,868) Total Employee Benefits $ 159,524 ✓ $ 126,271 $(33,253) INSURANCE EXPENSE: Fleet Liability $ 5,653 $ 6,669 $ 1,016 Workmen's Compensation 27,529 2,000 (25,529) General Liability 9,915 9,050 (865) Fire and Extended Coverage 40 3,348 3,308 'Volunteer Firemen's Accident 225 225 - Excess Umbrella Liability 1,075 2,125 1,050 Employee Bonds 573 294 (279) Total Insurance Expense $ 45,010 $ 23,711 $(21,299) UNALLOCATED: Transfers $ - $ 400,000 $400,000 NON-DEPARTMENTAL: Contingencies $ 32,956 . $ 23,220 $ (9,736) City's Share of Project Costs 3,352 : - (3,352) Other Charges 1,174\ - (1,174) Capital Expenditures: HRA Projects 66,461 - (66,461) Municipal State Aid Projects 123,496 - (123,496) County Road 18 Project 117793 - (117,793) Total Non-Departmental $ 345,232 $ 23,220 ($322,012) Total Expenditures STRAND X2,378,329 $2,432,808 $ 54,479 & ROE -23- EXHIBIT E City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND BALANCE SHEET As Of December 31, 1974 ASSETS Cash on Deposit with Fiscal Agents $ 202,808 Vs' Temporary Investments - At Cost 1,100,000 Unremitted Taxes Collected by County 6,925 Interest Receivable Special Assessments Receivable: 22,855 -- Current $ 297,036 - Delinquent 31,150 .4- Deferred 2,406,344 - 2,734,530 Authorized Construction to be Assessed 694,30917--• To be Provided for Authorized Construction 3,392 Total Assets $4,764,819 LIABILITIES, RESERVES AND FUND BALANCES Bank Overdraft $ 436,347 ✓ Matured Bonds and Interest Payable 202,808 u.":0 Contracts Payable Accrued Salaries 37 Bonds Payable 4 Future Interest on Bonds 1,915,000 V4\870'S\ lek Due to Other Funds 670,642 Reserves: 70,6420,S" Unexpended Project Authorizations 439,056 Fund Balance: Fund Principal $ 830,000 Unappropriated 257,055 1,087,055 Total Liabilities, Reserves and Fund Balances $4,764,819 v STRAND & ROE -24- EXHIBIT E-1 City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND STATEMENT OF CHANGES IN FUND BALANCE For the Year Ended December 31, 1974 UNAPPROPRIATED BALANCE - JANUARY 1, 1974 $239,314 ADDITIONS: Interest on Special Assessments: Levied in 1974 $78,370 Interest Earned on Investments 79,915 Old Checks Cancelled 2 Total Additions 158,287 $397,601 DEDUCTIONS: Transfers to General Fund $66,000 Adjustment of Delinquent Assessments 18,456 Fiscal Agent's Fees 265 Cancellation of Interest on Prepaid Special Assessments 17,367 Refund of Special Assessments 230 Interest on Special Assessments Cancelled: Hennepin County $ 7,985 City Owned 7,096 Westbrooke Patio Home 23,147 38,228 Total Deductions 140,546 BALANCE - DECEMBER 31, 1974 $257,055 v STRAND & ROE -25- EXHIBIT E-2 City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $ (409,953) RECEIPTS: Special Assessments $ 335,719 Project Costs Collected from Other Funds 147,289 Interest on Investments 61,085 Special Assessments on City Property Collected from General Fund 35,395 HRA Projects Reimbursed by General Fund 3,309 Other 394 Total Receipts (Excluding Investments) $ 583,191 INVESTMENTS MATURED OR SOLD (AT COST) 5,895,000 Total Receipts 6,478,191 Balance $6,068,238 DISBURSEMENTS: Payment on Bonds: Principal $320,000 Interest 136,943 Fees 265 $ 457,208 Project Costs 81,377 Total Disbursements (Excluding Investments and Transfers) $ 538,585 INVESTMENTS PURCHASED 5,900,000 TRANSFER TO OTHER FUNDS 66,000 STRAND Total Disbursements 6,504,585 & ROE BALANCE - DECEMBER 31, 1974 (DEFICIT) $ (436,347) -26- City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND PROJECT COSTS AND MEANS OF FINANCING As Of December 31, 1974 PRO J E C T EXPENDITURES Current Year Prior Construc- Years tion Overhead Total Concrete Alleys $ 20,076 $ 7,166 $ 893 $ 28,135 Street Construction 148,856 1,385 (1,956) 148,285 Sanitary Sewer 16,164 16,164 Water Mains 32,018 (1,247) 30,771 Street Surfacing 53,224 4,866 (206) 57,884 Curb and Gutters 13,526 324 49 13,899 Concrete Repairs 6,016 902 6,918 Street Lights 316,843 15,483 1,284 333,610 Parking Lots 160,489 66,002 226,491 Storm Sewer 33,350 (3,653) 29,697 Totals $794,546 $101,242 ($3,934) $891,854 -26- EXHIBIT E-3 C OSTS MEANS OF FINANCING PROJECTS Unexpended Paid By Assessed Assessed Authori- --- Other In In To Be To Be zations Total Funds 1974 1973 Assessed Provided Total $ 1,794 $ 29,929 $ 3,427 $ 16,682 $ $ 8,128 $1,692 $ 29,929 9,562 157,847 104,959 25,248 27,640 157,847 16,164 16,164 16,164 30,771 8,318 22,453 30,771 9,692 67,576 6,231 51,424 9,921 67,576 10,880 24,779 13,526 11,253 24,779 1,522 8,440 8,440 8,440 30,120 363,730 40,248 5,289 294,353 23,840 363,730 378,596 605,087 605,087 605,087 (3,110) 26,587 24,351 536 1,700 26,587 $439,056 $1,330,910 $187,534 $151,322 $294,353 $694,309 $3,392 $1,330,910 V STRAND & ROE _27_ EXHIBIT F City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND BALANCE SHEET As Of December 31, 1974 ASSETS Cash $ 7,843 Deposits with Fiscal Agents 2,030 Unremitted Special Assessments Collected by County 27 Special Assessments Receivable 428 Total Assets $10,328 LIABILITIES, RESERVES AND FUND BALANCE Matured Bonds and Interest Coupons $ 2,030 Fund Balance 8,298 Total Liabilities, Reserves and Fund Balance $10,328 i/ STRAND & ROE -28- EXHIBIT F-1 City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND STATEMENT OF CHANGES IN FUND BALANCE For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $8,325 DEDUCT: Fiscal Agent's Fees $25 Interest Cancelled on Prepaid Special Assessments 2 Total Deductions 27 BALANCE - DECEMBER 31, 1974 $8,298 v STRAND & ROE -29- EXHIBIT F-2 City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $8,943 RECEIPTS: Special Assessments: Collected by City $ 73 Collected by County 912 985 Total Receipts $9,928 DISBURSEMENTS: 6-1-64 Bond Issue: Principal $2,000 Interest 60 Fees 25 Total Disbursements 2,085 BALANCE - DECEMBER 31, 1974 $7,843 STRAND & ROE -30- EXHIBIT G City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND BALANCE SHEET As Of December 31, 1974 ASSETS Cash $ 4,567 Deposits with Fiscal Agents 19,650 Taxes Receivable: Current $24,018 Delinquent 1,821 25,839 Total Assets $50,056 LIABILITIES, RESERVES AND FUND BALANCE Matured Bonds and Interest Coupons $19,650 Bonds Payable 15,000 Future Interest Payable 8,513 Reserves: Uncollectible Taxes 1,176 Fund Balance 5,717 Total Liabilities, Reserves and Fund Balance $50,056 STRAND & ROE -31- EXHIBIT G-1 City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND STATEMENT OF CHANGES IN FUND BALANCE For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $ 5,237 ADDITIONS: Taxes Collectible in 1975 24,018 $29,255 DEDUCTIONS: Bonds and Interest Payable in 1975 $23,513 Fiscal Agent's Fees 25 Total Deductions 23,538 BALANCE - DECEMBER 31, 1974 $ 5,717 v STRAND & ROE -32- EXHIBIT G-2 City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $ 3,431 RECEIPTS: Taxes Collected by County 25,461 $28,892 DISBURSEMENTS: Bond Issue of 7-1-70 - Park Bond: Principal $15,000 Interest 9,300 Fiscal Agent's Fees 25 Total Disbursements 24,325 BALANCE - DECEMBER 31, 1974 $ 4,567 V STRANE & ROE -33- EXHIBIT H City of Hopkins Hopkins, Minnesota WATER UTILITY FUND BALANCE SHEETS As Of December 31, 1974 and 1973 Assets 12-31-74 12-31-73 CURRENT ASSETS: Cash on Hand $ 100 $ 100 Cash on Deposit with Fiscal Agents 900 1,320 Accounts Receivable 77,239 65,962 Due from Other Funds 5,642 54,688 Inventory - Supplies 9,868 7,468 Total Current Assets $ 93,749 $ 129,538 PROPERTY, PLANT AND EQUIPMENT: Land $ 20,714 $ 20,714 Wells, Tanks and Mains 3,209,516 3,193,340 Vehicles 24,358 22,540 Water Meters 53,632 43,660 Sundry Equipment 6,032 6,032 Office Equipment 11,453 11,453 Total Cost $3,325,705 $3,297,739 Less: Accumulated Depreciation 822,282 754,824 Net Book Value $2,503,423 $2,542,915 Total Assets $2,597,172 $2,672,453 Liabilities, Reserves & Contributions/Retained Earnings CURRENT LIABILITIES: Bank Overdraft $ 252,715 $ - Matured Bonds and Interest Payable 900 1,320 Accounts Payable 8,519 11,518 Sales Tax Payable 331 1,174 Accrued Payroll 1,574 1,407 Current Portion of Long-Term Debt 60,000 63,000 Accrued Interest on Bonds 2,426 2,714 Due to Other Funds - 197,784 Total Current Liabilities $ 326,465 $ 278,917 LONG-TERM DEBT: Bonds Payable $ 80,000 $ 103,000 Future Interest on Bonds 29,120 32,900 Less: Current Portion of Bonds (60,000) (63,000) Accrued Interest on Bonds (2,426) (2,714) Net Long-Term Debt $ 46,694 $ 70,186 STRAND RESERVES: & ROE Funds in Trust $ 130 $ 130 Encumbrances 15,000 - Total Reserves $ 15,130 $ 130 CONTRIBUTIONS/RETAINED EARNINGS $2,208,883 $2,323,220 Total Liabilities, Reserves & Contributions/ Retained Earnings $2,597,172 $2,672,453 -34- EXHIBIT H-1 City of Hopkins Hopkins, Minnesota WATER FUND STATEMENT OF CHANGES IN CONTRIBUTIONS/RETAINED EARNINGS For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $2,323,220 ADD: Interest Paid on Bonds 31,100 $2,354,320 DEDUCT: Net Loss for the Year $68,263 General Obligation Bonds Payable in 1975 40,000 General Obligation Bond Interest Payable in 1975 27,320 Adjustment of Accrued Interest 288 Payment of Water Funds Share of Project 71-14 to PIR Fund 8,318 Correct Transfer of Assets from PIR Fund made in 1973 1,248 Total Deductions 145,437 BALANCE - DECEMBER 31, 1974 $2,208,883 V STRANE & ROE -35- EXHIBIT H-2 City of Hopkins Hopkins, Minnesota WATER FUND STATEMENT OF REVENUE AND EXPENSE For the Years Ended December 31, 1974 and 1973 12-31-74 12-31-73 Budget Actual Actual OPERATING REVENUES: Customer Water Charges $196,000 $195,909 $209,264 Meters, Hookups and Penalties 5,050 10,111 8,614 Other 500 1,280 1,030 Total Operating Revenues $201,550 $207,300 $218,908 LESS: Operating Expenses Before Depreciation (Exh. H-3) 169,587 175,074 131,155 Net Operating Income Before Depreciation $ 31,963 $ 32,226 $ 87,753 LESS: Depreciation - 69,293 70,178 Net Operating Income (Loss) $ 31,963 $(37,067) $ 17,575 LESS: Non-Operating Expenses: Interest Expense $ 31,100 $ 30,812 $ 33,387 Fiscal Agent's Fees 210 179 199 Loss on Sale of Equipment - 205 - Total Non-Operating Expenses $ 31,310 $ 31,196 $ 33,586 Net Income (Loss) for the Year $ 653 $(68,263) $(16,011) V STRAND & ROE _ 1 -36- EXHIBIT H-3 City of Hopkins Hopkins, Minnesota WATER FUND SCHEDULE OF OPERATING EXPENSES For the Years Ended December 31, 1974 and 1973 12-31-74 12-31-73 Budget Actual Actual ADMINISTRATION: Personal Services $ 14,315 $ 24,191 $ 16,067 Contractual Services 3,392 3,292 3,917 Commodities 13,000 3,947 2,337 Other Charges 14,125 9,402 7,844 Total Administration $ 44,832 $ 40,832 $ 30,165 PUMPS AND WELLS: Personal Services $ 14,485 $ 12,370 $ 18,739 Contractual Services 19,500 19,300 35,678 Commodities 17,600 20,186 6,153 Total Pumps and Wells $ 51,585 $ 51,856 $ 60,570 DISTRIBUTION: Personal Services $ 17,070 $ 28,125 $ 27,668 Contractual Services - - 368 Commodities 6,100 6,661 1,767 Total Distribution $ 23,170 $ 34,786 $ 29,803 UNALLOCATED: Supply Inventory Adjustment $ - $ (2,400) $ 10,617 General Overhead 50,000 50,000 - Total Unallocated $ 50,000 $ 47,600 $ 10,617 Total Operating Expenses $169,587 $175,074 $131,155 Po STRAND & ROE -37- City of Hopkins Hopkins, Minnesota SUMMARY OF PROPERTY, PLANT AND EQUIPMENT As Of December 31, 1974 C Balance Description 1-1-74 Additions Land $ 20,714 $ Wells, Tanks and Mains 3,193,340 17,424 Water Meters 43,660 9,972 Vehicles and Equipment 22,540 4,537 Office Equipment 11,453 Other Equipment 6,032 Totals $3,297,739 $31,933 -37- EXHIBIT H-4 S T ACCUMULATED DEPRECIATION Elimi- Balance Balance Elimi- Balance nations 12-31-74 1-1-74 Deprec, nations 12-31-74 $ $ 20,714 $ $ $ $ 1,248 3,209,516 698,950 63,726 762,676 53,632 25,114 3,353 28,467 2,719 24,358 14,465 2,040 1,835 14,670 11,453 10,849 96 10,945 6,032 5,446 78 5,524 $3,967 $3,325,705 $754,824 $69,293 $1,835 $822,282 Po STRAND & ROE -38- EXHIBIT I City of Hopkins Hopkins, Minnesota SEWER FUND BALANCE SHEETS As Of December 31, 1974 and 1973 Assets 12-31-74 12-31-73 CURRENT ASSETS: Cash $ 402,987 $ - Cash on Deposit with Fiscal Agents 63,990 62,763 Due from Other Governmental Units 34,545 43,858 Prepaid Expenses 20,512 13,678 Due from Other Funds - 456,251 Inventory - Supplies 2,629 3,398 Total Current Assets $ 524,663 $ 579,948 PROPERTY, PLANT AND EQUIPMENT: Land $ 5,159 $ 5,159 Pumps, Mains and Lifts 3,128,880 3,128,880 Vehicles and Equipment 47,753 41,227 Office Equipment 9,727 9,699 Other Equipment 987 987 Total Cost $3,192,506 $3,185,952 Less: Accumulated Depreciation 679,426 615,697 Net Book Value $2,513,080 $2,570,255 OTHER ASSETS: Due from Other Governmental Units $ 720,032 $ 748,307 Total Assets $3,757,775 $3,898,510 Liabilities, Reserves & Contributions/Retained Earnings CURRENT LIABILITIES: Matured Bonds and Interest Payable $ 63,990 $ 62,763 Accounts Payable 1,664 2,160 Accrued Payroll 881 956 Bonds Payable 40,000 40,000 Due to Other Governmental Units 33,491 - Due to Other Funds - 10,018 Total Current Liabilities $ 140,026 $ 115,897 LONG-TERM DEBT: Future Interest on Bonds $ 41,425 $ 43,525 RESERVES: Extraordinary Repairs $ 32,756_ $ 23,706 CONTRIBUTIONS FROM OTHER GOVERNMENTAL UNITS $1,148,032 $1,148,032 STRAND CONTRIBUTIONS/RETAINED EARNINGS $2,395,536 $2,567,350 84 ROE Total Liabilities, Reserves & Contributions/Retained Earnings $3,757,775 $3,898,510 -39- EXHIBIT I-1 City of Hopkins Hopkins, Minnesota SEWER FUND STATEMENT OF CHANGES IN CONTRIBUTIONS/RETAINED EARNINGS For the Year Ended December 31, 1974 BALANCE - JANUARY 1, 1974 $2,567,350 ADD: Interest Paid on Bonds 43,525 $2,610,875 DEDUCT: Net Loss for the Year $90,593 Transfer to Reserve for Repairs 9,050 Final Adjustment of 1973 Metro Sewer Board Cost Allocation 34,271 Bonds and Interest Payable in 1975 81,425 Total Deductions 215,339 BALANCE - DECEMBER 31, 1974 $2,395,536 V STRAND & ROE -40- EXHIBIT 1-2 City of Hopkins Hopkins, Minnesota SEWER FUND STATEMENT OF REVENUE AND EXPENSE For the Years Ended December 31, 1974 and 1973 12-31-74 12-31-73 Budget Actual Actual OPERATING REVENUES: Customer Sewer Charges $312,000 $318,034 $330,816 Hookups and Permits - 2,048 24,159 Demolition Credits and Administration Fees - 10,263 19,450 Rentals - 9,050 9,050 Sewer Board Credits 27,455 - - Other Charges 7,000 - 387 Total Operating Revenues $346,455 $339,395 $383,862 LESS: Operating Expenses Before Depreciation 376,867 325,884 206,370 Net Operating Income Before Depreciation $(30,412) $ 13,511 $177,492 DEPRECIATION - 63,729 59,899 Net Operating (Loss) Income $(30,412) $(50,218) $117,593 NON-OPERATING INCOME AND CREDITS: Investment Income $ 4,000 $ 3,206 $ - Total Income $(26,412) $(47,012) $117,593 NON-OPERATING EXPENSES: Interest Expense $ 44,525 $ 43,525 $ 45,525 Fiscal Agent's Fees 250 56 58 Total Non-Operating Expenses $ 44,775 $ 43,581 $ 45,583 Net (Loss) Income for the Year $(71,187) $(90,593) $ 72,010 STRANC & ROE -41- EXHIBIT I-3 City of Hopkins Hopkins, Minnesota SEWER FUND SCHEDULE OF OPERATING EXPENSES For the Years Ended December 31, 1974 and 1973 12-31-74 12-31-73 Budget Actual Actual ADMINISTRATION: Personal Services $ 14,316 $ 25,963 $ 10,456 Contractual Services 4,650 3,321 1,745 Commodities 8,000 2,520 1,817 Other Charges 17,421 10,549 7,031 Total Administration $ 44,387 $ 42,353 $ 21,049 LIFT STATIONS: Personal Services $ 16,663 $ 2,237 $ 16,380 Contractual Services 2,900 6,936 4,023 Commodities 18,500 5,121 5,041 Total Lift Stations $ 38,063 $ 14,294 $ 25,444 DISPOSAL: Personal Services $ 38,357 $ 10,925 $ 14,278 Contractual Services 205,560 207,542 148,425 Commodities 500 - 40 Total Disposal $244,417 $218,467 $162,743 UNALLOCATED: Supply Inventory Adjustment $ - $ 770 $ (2,866) General Overhead 50,000 50,000 - Total Unallocated $ 50,000 $ 50,770 $ (2,866) Total Operating Expenses $376,867 $325,884 $206,370 V STRANC & ROE -42- EXHIBIT I-4 City of Hopkins Hopkins, Minnesota SEWER FUND SUMMARY OF PROPERTY, PLANT AND EQUIPMENT For the Year Ended December 31, 1974 C OSTS ACCUMULATED DEPRECIATION Balance Balance Balance Balance Description 1-1-74 Additions 12-31-74 1-1-74 Deprec. 12-31-74 Land $ 5,159 $ $ 5,159 $ $ $ Pumps, Mains & Lifts 3,128,880 3,128,880 582,006 59,844 641,850 Vehicles & Equipment 41,227 6,526 47,753 25,762 3,006 28,768 Office Equipment 9,699 28 9,727 7,902 852 8,754 Sundry Equipment 987 987 27 27 54 Totals $3,185,952 $6,554 $3,192,506 $615,697 $63,729 $679,426 1/ STRANC & ROE -43- EXHIBIT J 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, 1974 Balance Elimi- Balance Description 1-1-74 Additions nations 12-31-74 Land $ 923,327 $ 1,900 $ $ 925,227 Buildings and Structures 683,465 12,285 695,750 Other Improvements 4,848,174 276,760 5,124,934 Vehicles 591,764 56,417 11,789 636,392 Equipment 310,546 17,878 328,424 Jointly Held Assets 2,872 2,872 Construction Work in Progress 500,220 521,324 500,220 521,324 Totals $7,860,368 $886,564 $512,009 $8,234,923 EXHIBIT J-1 STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION For the Year Ended December 31, 1974 General Government $ 801,142 $ 3,146 $ $ 804,288 Public Safety 330,684 13,188 3,384 340,488 Engineering and Streets 5,132,564 643,722 503,815 5,272,471 Sanitation and Waste Removal 856,050 182,080 4,810 1,033,320 Recreation and Parks 737,056 44,428 781,484 Jointly Held Assets 2,872 2,872 ✓ STRAND Totals $7,860,368 $886,564 $512,009 $8,234,923 & ROE "The City has not maintained an up-to-date record of its general fixed assets." -44- EXHIBIT K City of Hopkins Hopkins, Minnesota STATEMENT OF CHANGES IN GENERAL LONG-TERM DEBT For the Year Ended December 31, 1974 Transferred Balance to Other Balance Assets 1-1-74 Funds 12-31-74 TAXES RECEIVABLE - DEFERRED: Park Bonds of 7-1-70 $ 200,327 $ 24,688 $ 175,639 Water Revenue Bonds of 6-1-67 936,700 70,700 866,000 Sanitary Sewer Bonds of 7-1-70 1,116,390 85,497 1,030,893 Total Assets $2,253,417 $180,885 $2,072,532 Liabilities and Reserves BONDS PAYABLE: Park Bonds of 7-1-70 $ 150,000 $ 15,000 $ 135,000 Water Revenue Bonds of 6-1-67 680,000 40,000 640,000 Sanitary Sewer Bonds of 7-1-70 690,000 40,000 650,000 Total Bonds Payable $1,520,000 $ 95,000 $1,425,000 FUTURE INTEREST PAYABLE: Park Bonds of 7-1-70 $ 40,788 $ 8,512 $ 32,276 Water Revenue Bonds of 6-1-67 211,180 27,320 183,860 Sanitary Sewer Bonds of 7-1-70 373,224 41,425 331,799 Total Future Interest Payable $ 625,192 $ 77,257 $ 547,935 RESERVE FOR UNCOLLECTIBLE TAXES: Park Bonds of 7-1-70 $ 9,539 $ 1,175 $ 8,364 Water Revenue Bonds of 6-1-67 45,520 3,380 42,140 Sanitary Sewer Bonds of 7-1-70 53,166 4,073 49,093 Total Reserve for Uncollectible Taxes $ 108,225 $ 8,628 $ 99,597 STRANC Total Liabilities and Reserves $2,253,417 $180,885 $2,072,532 & ROE -45- City of Hopkins Hopkins, Minnesota INSURANCE AND BONDS IN FORCE AND PREPAID INSURANCE AND BONDS As Of December 31, 1974 Policy Date Date Number Company Kind Effect. Expire; IST8045273 The Home Insurance Co. Public & Institutional 7- 1-72 7- 1-7' Property Form 4GA140586 American Financial Fleet Liability 7- 1-74 7- 1-7' 37IMSP61 Aetna Insurance Fire Insurance 9-27-74 9-27-7' 4876FCA WC54623 Westfield Insurance Co. Workmen's Compensation 7- 1-74 7- 1-7' SPF42-94-02 American Empire Insurance Property Floater 7-19-74 7-19-7 52527 American States Insurance Volunteer Firemen's Accident 7- 1-72 7- 1-7: U11687 Employer's Reinsurance Corp. Umbrella 8- 1-72 8- 1-7' MN-83168 Hartford Steam Boiler Boiler 7- 1-74 7- 1-7 86-01 Inspection & Ins. Co. FID54734 General Ins. Co. of America Blanket Bond 7- 1-72 7- 1-7' 802759 General Ins. Co. of America Bonds 7- 1-72 7- 1-7: 2338664 Safeco Bonds 8- 1-74 8- 1-71 2338662 2338661 (1) Three-Year Premium Paid. (2) Deposit Premium. (A) Annual Premium. -45- SCHEDULE S-1 Co- Coverage Amount Cost Prepaid Ins. Buildings $1,470,250 (1)$36,700 $ 6,079.50 90% V Contents 379,250 Deductible for All Perils Except Fire 100 General Liability: Bodily Injury 100/300M Property Damage 100M Personal Injury 100/300M Landfill: Bodily Injury 250/750M Property Damage 500M Bodily Injury 100/300M (1) 4,938 2,436.00 Property Damage 50M Comprehensive ACV Collision $150.00 Ded. Video Tape Recording & Television Unit $1,000 30 20.00 V v Employees Statutory (2) 21,684 10,842.00 Employer 100M ..-- Bicycles Bicycles 310 25 14.50 Accident and Indemnity $50.00 Weekly (1) 675 112.50 ✓ $5,000.00 Maximum Excess Liability $2,000,000 (1) 6,375 1,239.50 V Boilers & Pressure Vessels 250M (1) 459 382.50 IL ~- / MP Other City Employees (Each) $2,500 (A) 177 88.50 'ti.-- V Finance Director 40M (A) 345 172.50 Manager/Treasurer 10M Clerk/Ass't Cashier 10M City Engineer 5M Cashier 5M 1/ Ass't Cashier 5M STRANC & ROE Assessors: H. E. Richardson $1,000 (1) 60 47.50 Zd / - C. R. Peterson 1,000 E. Kerber 1,000 Total Prepaid Insurance $21,435.00 -46- SCHEDULE S-2 City of Hopkins Hopkins, Minnesota ASSESSED VALUATIONS, TAX LEVIES AND MILL RATES LEVIED IN 1974 1973 COLLECTIBLE IN 1975 1974 ASSESSED VALUATION: Real Property $65,267,366 $61,518,858 Personal Property 1,168,138 1,151,282 Total $66,435,504 $62,670,140 TAX LEVY: General Taxes $1,147,631 $1,020,521 Debt Service 24,018 25,569 Total $1,171,649 $1,046,090 MILL RATES: General Taxes 17.727 16,284 Debt Service .371 .408 Total 18.098 16.692 /6 �g STRANC & ROE