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1960 City of Hopkins, MN Annual Financial Report REPORT ON AUDIT As At December 31, 1960 CITY OF HOPKINS Hopkins, Minnesota STRAND & ROE City of Hopkins Hopkins, Minnesota CITY OFFICIALS 1960 COUNCIL Office Name Term Expires MAYOR W. Harlan Perbix 7- 1-61 COUNCILMAN Joseph To Anderla (Not Replaced by Council - Died 9-26-60) COUNCILMAN J. Russell Carroll 7- 1-61 COUNCILMAN John F. Hanley 7- 1-61 COUNCILMAN Donald J. Milbert 7- 1-61 SECRETARY Clifford R. Peterson 7- 1-61 CITY MANAGER AND TREASURER Richard L. Brubacher CITY CLERK & DEPUTY TREASURER Clifford R. Peterson CITY ATTORNEY Joseph C. Vesely CITY ENGINEER John J. Strojan ASSESSOR Joseph Hromadko FINANCE OFFICER Christen P. Nielsen BUILDING INSPECTOR John J. Strojan MUNICIPAL COURT JUDGES: K. Maxfield Otto 7- 1-63 James D, Rogers, Special Judge 7- 1-65 MUNICIPAL COURT CLERK Donald Nelson HEALTH OFFICER Dr. Herman E. Drill 7- 1-61 FIRE CHIEF Harold Hedberg 1- 1-61 STREET SUPERINTENDENT Elmer C. Bielke STRAND WATER & SEWER SUPERINTENDENT John A. Brecka & ROE WEED INSPECTOR Robert G. Anderson 1- 1-61 LIBRARIAN Mrs. William Mountain RECREATION DIRECTOR Laurenz A. Harris CIVIL DEFENSE DIRECTOR Leroy Olson BOARD OF HEALTH: Dr. Herman E. Drill, Chairman 7- 1-62 Dr. P. W. Sheldon 7- 1-62 Howard A. Puck 7- 1-62 City of Hopkins Hopkins , Minnesota CITY OFFICIALS (Continued) Office Name Term Expires LIBRARY BOARD: Mary L. Sprague 7- 1-63 Leone Wilwerding 7- 1-63 Evelyn Peterson 7- 1-61 Hugh W. Firmage 7- 1-61 Peter Throdahl 7- 1-62 POLICE CIVIL SERVICE Richard M. Van Bergen 1- 1-61 COMMISSION: Ross L. Thorfinson 1- 1-62 Richard E. Hertzenberg 1- 1-63 RECREATION COMMISSION: Earl Dahlberg 1- 1-61 S. H. Severson 1- 1-61 George M. Robertson 1- 1-62 Donald J. Milbert (Out) 12- 1-60 Mrs. Phil Hovander 1- 1-62 John Hanley (Appointed 12-1-60 to Replace Milbert) 7- 1-62 ZONING & PLANNING COMMISSION: A. L. Wegleitner, Chairman 6- 1-62 Joseph T. Anderla Died 9-26-60 Donald J. Milbert (Appointed 11-1-60 to replace Anderla) 7- 1-63 M. B. Hagen 6- 1-61 H. H. Coolidge, Jr. 6- 1-63 Sanfred C. Gustafson 6- 1-63 W. Harlan Perbix) John J. Strojan ) Ex-Officio Members R. L. Brubacher ) EMPLOYEES ' ADVISORY BOARD: Robert G. Anderson 7- 1-61 John F. Hanley 7- 1-61 Paul Caughren 7- 1-61 Clyde Carter 7- 1-61 Richard L. Brubacher CHARTER COMMISSION: Eugene O'Brien Glen M. Lewis Erwin L. Smetana Frank N. Whitney, Chairman Mrs. Marjorie Schmitz Maurice A. Hessian V Prof. Henry H. Wade STRAND Rev. Charles Heuser & ROE Otto Japs Mrs. Myra Stillman Dr. Frank J. Kucera Robert M. Geltman S . C. Gustafson John C. Zajicek Mrs. Mildred Lewis City of Hopkins Hopkins, Minnesota INDEX Page Explanatory Comments 1 - 14 GENERAL f,IND EXHIBITS: A - Balance Sheet 15 A-1 - Analysis of Changes in Surplus 16 A-2 - Statement of Revenues 17 - 18 A-3 - Summary Statement of Expenditures 19 A-4 - Statement of Expenditures - General Revenue 20 - 30 A-5 - Statements of Revenues and Expenditures - Parking Fund Reserve 31 A-6 - Statements of Revenues and Expenditures - Property Rental Reserve 32 A-7 - Statements of Revenues and Expenditures - Self-Sustaining Reserve 33 WATER UTILITY FUND B - Balance Sheet 34 B-1 - Analysis of Changes in Surplus 35 B-2 - Statement of Revenues 36 B-3 - Statement of Expenditures 37 - 38 B-4 - Fixed Assets and Depreciation 39 B-5 - Revenue Bonds and Interest Outstanding 40 B-6 - Accrual Operating Statement 41 SEWER UTILITY FUND C - Balance Sheet 42 C-1 - Analysis of Changes in Surplus 43 C-2 - Statement of Revenues 44 C-3 - Statement of Expenditures 45 - 46 C-4 - Fixed Assets and Depreciation 47 C-5 - Revenue Bonds and Interest Outstanding 48 C-6 - Accrual Operating Statement 49 STRAND PERMANENT IMPROVEMENT REVOLVING FUND & ROE D - Balance Sheet 50 D-1 - Analysis of Changes in Surplus 51 D-2 - Statement of Revenues 52 D-3 - Assessments Receivable 53 D-4 - Construction Costs 54 - 55 Page 2 City of Hopkins Hopkins, Minnesota INDEX kaat SPECIAL ASSESSMENT FUND EXHIBITS: E - Balance Sheet 56 E-1 - Analysis of Changes in Surplus 57 E-2 - Statements of Revenues and Expenditures 58 E-3 - Assessments Receivable 59 E-4 - Bond Maturities 60 BOND RETIREMENT FUND F - Balance Sheet 61 F-1 - Analysis of Changes in Surplus 62 F-2 - Statement of Revenues and Expenditures 63 F-3 - General Obligation Bonds 64 - 65 F-4 - Revenue Bonds - Bond and Interest Summary 66 CAPITAL FUND G - Balance Sheet 67 G-1 - Analysis of Changes in Surplus 68 G-2 - Capital Assets 69 - 71 G-3 - Fixed Assets and Depreciation - Engineering Department 72 SUPPLEMENTARY STATEMENTS H - Combined Balance Sheet - All Funds 73 H-1 - Combined Balance Sheet - By Funds 74 H-2 - Combined Comparative Balance Sheets 75 H-3 - Treasurer's Cash Balance 76 H-4 - Accounts Receivable 77 H-5 - Interfund Accounts 78 H-6 - Inventories 79 H-7 - Accounts Payable 80 - 81 H-8 - Accounts Payable to City of Minneapolis 82 1,0 H-9 - Bonded Indebtedness - All Funds 83 STRAND H-10 - Insurance In Force 84 - 85 & ROE H-11 - Municipal Court - Statement of Receipts and Disbursements 86 H-12 - Municipal Court - Cash in Bank 87 H-13 - Assessed Valuation - Tax Levy 88 CLARENCE E. ROE, C.P.A. ROGER R. ROE, C.P.A. R. E. BUNKER, C.P.A. J. A. LARSEN, C.P.A. JOE M. CROW, C.P.A. DONALD H.JOHNSON, C.P.A. STANLEY H. MOBERG, C.P.A. S T R A N D & ROE CetiteI /2 11 c �'1 camp:la/lb 6301 WAYZATA BOULEVARD MINNEAPOLIS 16, MINNESOTA Liberty 5-1651 May 26, 1961 The Honorable Mayor and the Members of the City Council City of Hopkins Hopkins, Minnesota Gentlemen: We have examined the financial statements of the various funds of the CITY OF HOPKINS , Hopkins, Minnesota, for the year ended December 31, 1960. The examination, a limited general audit, was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. We were not present at the time the physical inventories were taken, nor was a verification made of the balances due on the assessments receivable. In our opinion, subject to the qualifications stated above, the accom- panying balance sheets and related statements of revenues, expenditures, and surplus present fairly the financial position of the various funds of the City of Hopkins on December 31, 1960, and the results of their operations for the year then ended, in conformity with generally accepted governmental accounting prin- ciples applied on a basis consistent with that of the preceding year. ►/ Respec ully submitted, STRAND a"4- & R O E 11 Art r � STRAND & ROE Certified Public Accountants Date Field Work Completed May 12. 1961 Date Report Signed IF THIS REPORT IS PUBLISHED, IT MUST BE REPRODUCED IN ITS ENTIRETY. EXTRACTS MAY NOT BE PUBLISHED WITHOUT AUTHORIZATION. City of Hopkins Hopkins, Minnesota EXPLANATORY COMMENTS ►/ STRAND & ROE -2- City of Hopkins HISTORY The Village of West Minneapolis was incorporated on November 27, 1893. The name was changed to the Village of Hopkins on July 7, 1928. On January 1, 1948, the Village became a City of the fourth class and adopted the city manager form of government. The corporate limits of the City of Hopkins comprise approximately four square miles. The population of the City of Hopkins, as given in the last five official federal census reports, was as follows: Year Population 1920 3,055 1930 3,834 1940 4,100 1950 7,595 1960 11,380 As a result of the federal census of 1960, Hopkins became a City of the third class on January 2, 1961. COMMENTS ON BALANCE SHEET ITEMS In the next several paragraphs, the more important assets and liabilities of the City are explained, listed, or described, as the case may be. ASSETS CASH ON HAND AND IN BANKS The petty cash and cash on hand were verified by actual count on December 31, 1960. pi The petty cash consisted of the following: STRAND & ROE General Revenue $100.00 Library 25.00 Court 200.00 Water Utility 100.00 Total $425.00 -3- City of Hopkins The City had bank balances in the First National Bank and Northwestern National Bank, both of Hopkins, as outlined under Exhibit. H-3. The balances were verified by correspondence and reconciliation. As of December 31, 1960, the City held security assignments to safeguard the City funds placed on deposit in these banks, as follows: First National Bank of Hopkins: Kind Rate Due Amount U. S. Treasury Bonds 2 1/4% 12-15-62 $ 40,000.00 U. S. Treasury Bonds 3% 1964 200,000.00 U. S. Treasury Bonds 3 5/8% 2-15-61 150,000.00 F. D. I. C. 10,000.00 $400,000.00 Northwestern National Bank of Ho kp ins: Kind Rate Due Amount U. S. Treasury Bonds 2 3/4% 9-15-61 $ 60,000.00 U. S. Treasury Bonds 2 3/4% 12-15-65 100,000.00 U. S. Treasury Bonds 2 1/4% 6-15-62 100,000.00 F. D. I. C. 10,000.00 $270,000.00 FUNDS IN HANDS OF FISCAL AGENTS Funds in the hands of fiscal agents for the retirement of bonds and interest payments are as follows: Issue Payment Bank Date Date Amount Total American National Bank - St. Paul 6-1-57 12-1-59 $ 82.00 6-1-60 585.00 12-1-60 3,490.00 $ 4,157.00 First National Bank - Minneapolis 12-1-55 12-1-60 225.00 Northwestern National Bank-Minneapolis 3-1-45 1-1-61 $ 2,590.00 9-1-53 9-1-60 70.00 11-1-47 7-1-60 24.00 1-1-61 2,132.00 STRAND 5-1-53 12-1-60 26,431.00 & ROE 12-1-45 12-1-60 13,877.50 6-1-57 12-1-60 3,860.00 6-1-54 12-1-60 2,301.50 6-1-54 6-1-60 45.00 12-1-60 21,490.00 72,821.00 Total in Hands of Fiscal Agents $77,203.00 This account has a contra amount under the liabilities. -4- City of Hopkins INVESTMENTS The investments held as at December 31, 1960, were as follows: General Revenue: U. S. Treasury Notes 3 1/4% 2-1562 $ 25,000,00 Water Utility° City of Hopkins Water Revenue Bonds of 1954 ($13,000,00) 2.9% 6- 1-71 12,084,28 Special Assessments: U. S. Treasury Notes 3 1/4% 2-15-62 $25 ,000.00 U. S. Treasury Notes 3 1/4% 2-15-62 50,000.00 U. S. Treasury Bills 3-30-61 99,457,00 174,457.00 Total $211,541.28 We sighted the City bonds held and verified the United States securities held by the Northwestern National Bank. The U. S. securities are carried at cost; the City bonds are at cost plus amortization of discount. ACCOUNTS RECEIVABLE We have listed the outstanding accounts receivable from the individual accounts and the details are shown under Exhibit H-4, We verified uncollected accounts at the time of our examination. Three accounts are in dispute, namely: William J. Hissam for $150.00, Earl Sewall for $2,858,15, and Minneapolis Gas Company for $717.00. City management employees believe that collection will be made on the first two items; however, the Gas Company item may have to be charged off. Negative verifications were mailed on a large proportion of the public utility accounts outstanding, and only one return was received, which was reconciled. STRAND & ROE With respect to public utility charges, we checked payments received from January 1, 1961, to April 21, 1961, and found that approximately 83 per cent of the December 31, 1960, balances were paid. One unpaid account exceeds $100,00; it is an accumula- tion of sewer charges on 405 - 10th Avenue North in the amount of $174.00. No payment has been made on this account since before June, 1952. -5- City of Hopkins INTERFUND ACCOUNTS A statement of the amounts due between funds is given under Schedule H-5. It was authorized by Council action that $25,000.00 of the cost of installing a storm sewer in the Parkridge Addition during the year 1945 be paid by the Sewerage Utility Fund. The cost of this sewer was assessed to the property owners through the Special Assessments Fund. It was therefore resolved by the Council that the Special Assessments Fund should reimburse the Sewerage Utility Fund for this cost at the rate of $1,250.00 per year during the years 1947 to 1966. The amount of $8,750.00 represents the payments due for the years 1960 to 1966, inclusive. The transfer for the year 1960 was not made. In the bond issue of 1958, it was provided that the P.I.R. bonds of 1958 should be paid through the Bond Retirement Fund. No general tax levy is being made for this issue; by resolution, it is being paid from the sewer utility revenues. The yearly amounts payable on this issue will be found under Exhibit F-4. The other interfund items are due to the reclassification of receipts. MUNICIPAL STATE AID FUND A street maintenance fund is created by the State for municipal roads from state gasoline tax funds, Each year 25 per cent of the current year's allot- ment is remitted to the municipality for maintenance. The balance is held by the state in a Municipal State Aid Fund for use only on specific roads listed by the municipality with the state. Per the annual statement from the state, the City of Hopkins had a reserve of $89,755.00 as of December 31, 1960. ko ASSESSMENTS RECEIVABLE STRAND & ROE The changes in special assessments receivable for the Special Assessments Fund and Permanent Improvement Revolving Fund during the year are given under Exhibits D-3 and E-3. During the year under review the assessment department for the City added all assessments due per the City's records. We have adjusted the receivable accounts to these balances after allowing for a five per cent variance City of of Hopkins on Special Assessments and a two per cent variance on P.I.R. To verify the correctness of these balances would necessitate considerable checking of the books in the County Auditor's office; this was not considered advisable by the City Management. ACCRUED INTEREST RECEIVAL This represents interest due on investments owned as of December 31, 1960. CURRENT TAX LEVY The tax levy collectible in 1961 is as adopted by the City Council. Except for the Bond Retirement Fund, this levy is offset on the balance sheet by a reserve of an equal amount. FUTURE TAX LEVIES This represents the amounts to be provided in future years to pay the bonds and interest on the general obligation bonds as they fall due. Under Exhibits F-3 and F-4 we give an analysis showing the yearly requirements and related levies. DELINQUENT TAXES, Delinquent taxes are not reflected on the accompanying balance sheets but will be shown in revenues and in the surplus of the various funds as they are collected. Delinquent taxes as at December 31, 1960, per information obtained from the County Auditor, were as follows: STRAND Personal Real Special & ROE L'faZ Collectible Proper la Estate Assessments Total 1954 1955 $ 538.55 $ 48.59 $ (124.60) $ 462.54 1955 1956 77.22 49.49 562.47 689. 18 1956 1957 185.31 100.95 1,010.00 1,296.26 1957 1958 14.05 390.96 1,738.92 2,143.93 1958 1959 213. 66 621.96 1,510.10 2,345. 72 1959 1960 1,797.55 5 017.27 4,497. 60 11,312.42 Totals $2,826.34 $6,229.22 $9,194.49 $18,250.05 -7- City of Hopkins Summaries of delinquent taxes older than five years are no longer main- tained by the County Auditor. FUTURE ASSESSMENTS This account represents the estimated amount to be assessed on projects which have been authorized. A detail by project will be found under Exhibit D-4. INVENTORIES The inventories are listed under Exhibit H-6. The inventory quantities were submitted to us by City employees. We sighted the items with the greater monetary value. We have accepted the other quantities as submitted to us to be correct. We have test checked pricing, extensions, and footings. WORK IN PROCESS This represents the costs to December 31, 1960, of various authorized projects under the P.I.R. Fund which will be assessed or capitalized at a later date. The individual projects are outlined under Exhibit D-4. PREPAID EXPENSES Prepaid expenses consisted of items chargeable to the year 1961: General Fund: Bond $515.00 Printing Supplies 57.50 $572.50 Water Utility: Printing Supplies 58.50 Sewer Utility: Printing Supplies 58.50 STRAND Total $689.50 & ROE FIXED ASSETS Additions to fixed assets during the year under review are given under Exhibits B-4, C-4, and G-2. Depreciation has been estimated on the revenue pro- ducing divisions as a means of determining net income on the accrual basis. No depreciation has been provided on the general assets. -8- City of Hopkins Special assessment improvements have been treated as additions on the assumption that these improvements are owned and controlled by the City. The asset values of January 1, 1960, are carried over from the prior report. No complete analysis was made of all beginning valuations. LIABILITIES RESERVES AND SURPLUS ACCOUNTS AND CONTRACTS PAYABLE The accounts and contracts payable of the several funds were determined by a review of disbursements, minutes, and other data on file. They are listed under Exhibits H-7 and H-8. The sewerage disposal contract arose when a joint program was initiated whereby the Cities of Hopkins and St. Louis Park were allowed to connect with the sewerage system of the City of Minneapolis. ACCRUED LIABILITIES Certain items covered under the budget of 1960 were not expended within the year and have been accrued: Item Department Amount Automobile Manager $ 2,000.00 Truck and Radio Fire 9,700.00 Truck Street 6,000.00 Repair Municipal Building 1,000.00 Repair Library 2,400.00 Appraisal - Fixed Assets Contingencies 1,500.00 Total $22,600.00 PROJECTS AUTHORIZED ko Under Exhibit D-4 we give details on the projects authorized as at STRAND & ROE December 31, 1960. These amounts represent the estimated direct costs of com- pleting the work, on approved projects; however, the estimate does not include the future interest to be computed at the time of assessment. PREPAID REVENUES These are the receipts from licenses and fees received during the month of December, 1960, which are applicable to the year 1961. -9- City of Hopkins BONDS PAYABLE We submit under Exhibit H-9 a detail of the total bonded indebtedness of the City. Under Exhibits B-5, C-5, E-4, F-3, and F-4, details on individual bond issues are given by years. We sighted the bonds and interest coupons paid and cancelled during the year. FUND BALANCE This account represents the gross amount of bonds issued under the P.I.R. Fund and constitutes the basis, when collected, for future improvements without the need of further bond issues. SURPLUS The net worth of the City is reflected in the surplus accounts. They are detailed by funds under Exhibits A-1, B-1, C-1, D-1, E-1, F-1, and G-1. COMPARATIVE BALANCE SHEETS Under Exhibit H-2 is presented a comparative balance sheet of all the City's facilities. It should be noted that this is the third consecutive year that the surplus accounts have improved substantially. The major changes are as follows: Net Revenues Over Expenditures $116,087. 61 Adjust Assessments Receivable 227,770.75 Assessment Fees and Interest 88,917.81 Net Sundry Increases 261.03 $433,037.20 Deduct: STRAND Loss in Assessments Receivable $ 7,333.46 ROE Net Inventory Decrease 4,522.17 11,855. 63 Net Increase in Surplus: Unappropriated $379,028.67 Current 42,152.90 $421,181.57 -10- City of Hopkins OPERATIONS L.)etailed statements showing the revenues and expenditures for each fund are given under the respective sections of this report. A summary of the budgeted funds is given below: Description Actual Budget Over Under RECEIPTS: General Revenue $637,759.50 $626,805.00 $10,954.50 $ Water Utility 112,094.50 94,500,00 17,594,50 Sewer Utility 107,456.41 91,500.00 15,956.41 Bond Retirement 133,995.13 119,863.00 14,132. 13 Bond Retirement-From Surplus 2,167.00 2,167.00 Total Receipts $991,305.54 $934,835.00 $56,470.54 $ EXPENDITURES: General Revenue $591,672. 61 $626,805.00 $35,132.39 Water Utility 91,927.46 93,450.00 1,522.54 Water Utility - To Surplus 1,050.00 1,050.00 Sewer Utility 83,238.09 87,120.00 3,881.91 Sewer Utility - To Surplus 4,380.00 4,380.00 Bond Retirement 138,505.31 122,030.00 16,475.31 Total Expenditures $905,343.47 $934,835.00 $ $29,491.53 Net Difference $ 85,962.07 $ $85,962.07 $ A summary of the unbudgeted operations is as follows: Description Revenue Expenditures Gain Deficit Parking Fund $ 11,620. 11 $ 4,548.56) $ 2,071.55 $ Parking Fund - Transfer 5,000.00) Property Rental 1,234.20 846. 62 387.58 Recreation - Self Sustaining 16,019.05 13,874.21) 1,764.59 Recreation-Self Sustaining Payables 380.25) Special Assessment Fund 92,238.05 66,336.23 25,901.82 Trust and Agency-Fire Dept. Aid 6,546. 17 6,546.17 - Q vo Totals $127,657.58 $ 97,532.04 $30,125.54 . STRAND & ROE Under Exhibits B-6 and C-6 we present operating statements on the accrual basis for the water and sewer utilities as required by revenue bond indentures. Depreciation has been computed on a basis consistent with previous years. Exhibit H-11 shows a detail of cash receipts and disbursements for the Municipal Court. -11- City of Hopkins CONTINGENCIES Mr. and Mrs. George E. Madden have each instituted lawsuits against the City of Hopkins as the result of a fall by Mrs. Madden on the public sidewalks of Hopkins. In the two suits, they claim damages of $27,000.00. The City management disclaims any liability. The City carries no public liability insurance against such contingencies. GENERAL During the course of our examination, a number of items came to our notice which we wish to call to your attention in an endeavor to assist the City to better follow the regulations and promote efficiency within the administrative organization. 1. The proper coding of receipts and expenditures must be checked continuously. All employees must be made conscious of its importance. Proper coding reduces later adjustments and makes budget comparisons more accurate. 2. Efforts should be made to collect or settle the accounts receivable which are past due. Four items are carryovers from 1959, namely: William Hissam $ 150.00 Minneapolis Gas Company 418.00 Pizza Plaza 18.52 Earl Sewall 2,858.15 3. As listed under accrued liabilities, above, certain items in the 1960 budget which were not expended have been set up as a reserve for the year 1961. None of the items enumerated had bids or purchase orders completed by V December 31, 1960. These items should not be carried forward, but should become STRAND & ROE a part of the surplus account. They can be carried forward if they are encumbered by the end of the budget year. The National Committee on Governmental Accounting's publication entitled "Municipal Accounting and Auditing" states: "The legislative body ordinarily makes the appropriations for a year, and at the end of the year the unencumbered balances lapse into the unappropriated surplus of the fund. -12- City of Hopkins Encumbered appropriations, that is, those against which purchase orders or con- tracts are outstanding, are covered by a reserve for encumbrances which is carried over into the following fiscal year," 4e A new license ordinance was passed effective as of January 1, 1960. Certain charges for the year 1960 were made at other than ordinance rates, namely: Per As Type Ordinance Charged Benches 12 6 Cigarette 14 12 Liquor - Off Sale 100 115 Ice Skating 50 58 Only one new taxicab driver's license fee was collected. No renewals were collected; however, licenses were issued for nine cabs in the City. Used car dealer licenses are set at $100.00; however, the ordinance is not clear as to whether the fee applies per dealer or per location. 5. The sample daily cash register tapes checked on the beach concession did not agree with the amounts deposited; however, in each case the deposit exceeded the amount called for on the daily tape., Another type of register, having additional controls, would be advisable, 6, The hydrant rental fee of $50.00 per year payable to the Water Utility from the General Fund was imposed as additional security on the Water Revenue Bond Issue of June 1, 1954. This fee was not paid for the year 1960 and was not made a part of the 1961 budget, We were informed that the charge was dropped because the water rates were increased; however, this does not seem to be Po STRAND an adequate reason, because Resolution No, 472 of 1954 states: ". . . said hydrant & ROE rental charge is hereby pledged as additional security for the bonds issued here- under." Information obtained from City employees shows 307 City owned hydrants in use. The yearly charge would then be $15,350.00. -13- City of Hopkins Resolution No. 472 also requires that "net revenues" produce "at least one and one quarter times the amount required to pay principal of and interest on bonds herein." On the cash basis sufficient earnings have been realized; however, if the accrual method is used, see Exhibit B-6, the requirements of the Resolution are not being met. 7. Prenumbered receipt forms should be used in all cases where monies are received by the City. Several permit forms are hand numbered. In addition, the recreation department is not making out receipts in all cases. 8. A capital asset ledger listing each of the individual property items owned by the City should be maintained. To expedite this work, the services of an appraisal firm should be obtained. 9. The record-keeping in the Municipal Court is difficult to audit since many cases do not denote whether a fine or jail sentence was imposed. A simplified journal form should be provided so that the monies received by the City can be easily traced back to the criminal and civil dockets of the Court, 10. Pledged securities are required by law to be deposited with the City by all banks holding City funds. The First National Bank pledged $250,000.00; this amount was increased to $400,000.00 on December 31, 1960. During ten months of the year, the bank balance consistently exceeded the pledged limits. Since the increase in pledged securities on December 31, 1960, was in short-term notes, arrangements should be made to permanently increase the pledged limits. 11, Ordinance No. 59 outlines the charges to other governmental units po for fire service. The rate is stated as $45.00 per hour for each vehicle plus an STRAN& ROE annual stand-by charge. The charges being made are in excess of these amounts. The Ordinance should be changed if these larger charges are to be continued. 12. One purchase was made during the year from Crook & Hanley for $100.00. Mr. Hanley, a Councilman, is part owner of this firm. Per Minnesota Statutes, Section 471.87, such purchases are not authorized. -14- giL/ atii2P111§. CONCLUSION Based on our examination of the accounts, we conclude that the City is continuing to make improvements in its financial position and in its record-keeping. To maintain financial improvements, efficient budgeting and logical planning are essential— We wish to express our appreciation for the assistance and cooperation given to our representatives during the course of our examination. 1," STRAND & ROE GENERAL FUND V STRAND & ROE -15- City of Hopkins Hopkins, Minnesota GENERAL AND SPECIAL REVENUES FUND BALANCE SHEET As At December 31, 1960 General Assets Total Revenue Treasurer's Cash $ 74,492.84 $ 68,110.55 Petty Cash 325.00 325.00 Cash on Hand 17,909.00 17,909.00 Accounts Receivable 5,371. 18 5,371. 18 Investments 25,000.00 25,000.00 Accrued Interest Receivable 104.63 104.63 Due on Municipal State Aid Fund 89,755.00 89,755.00 Inventories 20,700.74 20,325.74 Prepaid Expenses 572.50 572.50 Current Tax Levy 529,304.00 529,304.00 Total Assets $763,534.89 $756,777. 60 Liabilities, Reserves, and Surplus Accounts Payable $ 5,430.28 $ 5,035.69 Accrued Payroll 5,929.04 5,848.24 Accrued Liabilities 22,600.00 22,600.00 Prepaid Revenues 17,909.00 17,909.00 Reserve for Current Tax Levy 529,304.00 529,304.00 Reserve for Municipal State Aid 89,755.00 89,755.00 Surplus - Unappropriated 92,607.57 _ 86,325.67 Total Liabilities, Reserves, and Surplus $763,534.89 756,777.60 -15- EXHIBIT A PARKING RESERVE RE 'EATI0 SE F-S T• On Street Municipal Parking Rental Soft Drink Beach Parking Lots Violations Property Dispensers Concession $487.62 ($3,197.17) $2,495.05 $1,900.86 $606.88 $4,089.05 375.00 $862. 62 ($3,197.17) $2,495.05 1,900.86 $606.88 $4,089.05 $ 14.34 $ $ $ $380.25 $ 80.80 767.48 (3,197.17) 2,495.05 1,900.86 226. 63 4,089.05 , 862. 62 ($3,197.17) $2,495.05 $1,900.86 $606.88 $4,089.05 STRAND & ROE -16- City of Hopkins Hopkins, Minnesota GENERAL AND SPECIAL REVENUES FUND ANALYSIS OF CHANGES IN SURPLUS - UNAPPROPRIATED For the Year Ended December 31, 1960 PARK General On Street Total Revenue Parking BALANCE - DECEMBER 31, 1959 $ 32,751.75 $ 42,823.59 ($3,154.95) ADDITIONS: Revenues per Accompanying Statements $666,632.86 $637,759.50 $6,376. 66 Transfer from Self-Sustaining Reserves 464.84 464.84 Adjust Inventory 375.00 375.00 Cancel Meter Contract 7,315.00 Total Additions $674,787.70 $638,224.34 $6,751. 66 $707,539.45 $681,047.93 $3,596. 71 DEDUCTIONS: Expenditures per Accompanying Statements $610,942.00 $591,672. 61 $2,734.09 Transfer to General Revenue 464.84 Adjust Inventory 2,559.79 2,559.79 Cancel Equipment Charges - 1959 210.00 210.00 Accounts Payable and Payroll 475.39 95.14 Applicable to Special Revenues 279.86 279.86 Total Deductions $614,931.88 $594,722.26 $2,829.23 BALANCE - DECEMBER 31. 1960 $ 92,607.57 $ 86,325.67 $ 767.48 -l6- PCHIBTT �-1 ING RESERVE BECDEAII00 - SELF Municipal Parking Rental Soft Drink Beach Con-Beach Trans- Swimming Recreation __LotsViolations I`roper_ty, cession _QoItatjon Pool -<j�a§L§_~ ($11,446. 1[) $ - $1`513.28 $ - $3,015,92 $ - $ - $ - $ 2,748.40 $2,495.05 $1,234,20 $989.20 $5,773.26 $1,944.05 $3,868.80 $3,443. 14 7 315.00 $10 063.40 $2,495.05 $1,234.20 $989.20 $5,773.26 $1,944. 65 ,$3_868.80 $3,443,14 $(1,382. 7[) $2,495,05 A2,747.48 $989.20 $8,789. 19 $1,944,65 $3,868.80 $3,443. 14 $ 1,814.47 $ - $ 846.62 $382.32 84,700'14 $1,609,00 $3,868.80 $3,212.95 335. 65 129.19 380.25 $ 1,814.47 $ - $ 846. 62 $762.57 L'700.14 $1,944. 65 $3,868.80 ¢3,443, 14 $(3,197. 17) $2,495.05 $1,900.86 $226. 63 $4,089,05 $ - $ STRAND & ROE -17- EXHIBIT A-2 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF REVENUES For the Year Ended December 31 . 1960 Actual Estimated Over Revenue Revenue Revenue (Under) Property Taxes: Current $469,805.40 $480,902.00 ($11,096. 60) Delinquent 4,766.30 2,753.00 2,013.30 State-Shared Taxes: Liquor 7,139.30 8,400.00 (1,260.70) Cigarette 12,312. 79 11,000.00 1,312. 79 Bank Excise 2,293.12 2,293.12 Mortgage Registry 1,653.20 2,500.00 (846.80) State Aid Roads 12,019.70 12,019. 70 Licenses: Liquor - On Sale 11,040.00 12,000.00 (960.00) Liquor - Off Sale 920.00 1,600.00 (680.00) Liquor - Club 300.00 300.00 Liquor - Malt - On Sale 620.00 1,300.00 (680.00) Liquor - Malt - Off Sale 332.00 330.00 2.00 Soft Drinks 332.00 225.00 107.00 Milk - Sales 26.00 175.00 (149.00) Milk - Trucks 162.00 400.00 (238.00) Amusement Devices 84.00 50.00 34.00 Oil and Gas Burner Installation 450.00 600.00 (150.00) Plumbers 558.00 550.00 8.00 Gasoline - Filling Stations 650.00 550.00 100.00 Gasoline - Bulk Stations 200.00 200.00 - Bowling Alleys 132.00 190.00 (58.00) Theatre 172.00 100.00 72.00 Cigarette 664.00 550.00 114.00 Taxicabs 63.00 80.00 (17.00) Taxicabs - Drivers 5.00 - 5.00 Peddlers 435.00 100.00 335.00 Billboards and Signs 13.00 50.00 (37.00) Electrician 1,028.50 850.00 178.50 Used Car Lots 1,200.00 1,100.00 100.00 Ice Skating Schools 58.00 50.00 8.00 Dance Hall 34.00 - 34.00 Street Benches 108.00 - 108.00 Other 42.00 - 42.00 Dog 1,032.00 450.00 582.00 Bicycle 242. 75 200.00 42. 75 STRAND Permits: & ROE Building 4,206.00 2,200.00 2,006.00 Electrical 3,166.50 2,300.00 866.50 Plumbing 884.25 600.00 284.25 Oil and Gas Burner 160.00 50.00 110.00 Street Opening 1,138.00 300.00 838.00 Interest on Investments 554,89 5,000.00 (4,445. 11) Municipal Court: Fines 26,298.12 14,000.00 12,298. 12 Fees 5,265.95 2,000.00 3,265.95 Traffic Fines - 1,000.00 (1,000.00) Accident Reports 24.00 - 24.00 -18- EXHIBIT A-2 Page 2 City of Hopkins Hopkins, Minnesota GENERAL FUND STATEMENT OF REVENUES For the yearEnded December_ ,31 _ 1960 Actual Estimated Over Revenue Revenue Revenue ( Fire Protection $ 1,628.00 $ 1,000.00 $ 620.80 Library Fines and Fees 1,105.90 1,000.00 105.90 Recreation: Salary Subsidy 755-00 800.00 (45.00) Fees 2,913.95 2,700,00 213.95 Beach Parking 2,348.95 2,000.00 348.95 Contributions: School District #274 $11,500.00 Minnetonka Village 5 000.00 16,500.00 16,500.00 Sundry: Beach Damage $ 274.32 Telephone Commission 11.35 Other 44.04 329.71 300.00 29.71 Sundry: Dog Pound $ 130.00 Gas Service Permits 299.00 Telephone Commissions 150.98 Damage - Police Car 98.25 Mobile Radio Service 108-00 Employee Refunds 438.00 Other 293.52 1,517, 75 1,000,00 517.75 Sale of R/W Property - 6,000.00 (6,000.00) Overhead Charges: Rental Property 500.00 500.00 - P.I.R. Fund: Equipment Charges $ 9,403,58 Engineering Service 710.40 Overhead 12 249.86 22,363. 76 25,000.00 (2,636'24) Water Utility 8,000.00 8,000.00 Sewer Utility 7,000,00 7,000.00 Refunds: Insurance 132.85 - 132'85 1959 Invoices _____ 80.86 __. - 80.86 Totals $637'759.58 $626,805.00 $10,954,50 STRAND & ROE -19- EXHIBIT A-3 City of Hopkins Hopkins, Minnesota GENERAL FUND - GENERAL REVENUES SUMMARY STATEMENT OF EXPENDITURES For the Year Ended December 31 1960 Actual Appro- (Over) Description Expenditures priations Under Council $ 3,041.03 $ 3,500.00 $ 458.97 Manager's Office 28,598.27 29,375.00 776. 73 Municipal Court 8,858.81 9,500.00 641.19 Elections 4,089.89 4,500,00 410.11 City Clerk 8,529.54 9,000,00 470,46 Legal Service 3,739.76 4,000.00 260,24 Assessing 9,190,49 13,750.00 4,559.51 Zoning and Planning 1,440.73 2,000,00 559.27 Charter Commission 149,75 350.00 200.25 Insurance 10,468,78 10,750.00 281.22 Police 94, 754,23 95. 150.00 395.77 Fire 33,807, 67 35,300.00 1,492,33 Inspection Services 2,023.53 2,800.00 776,47 Public Employees' Retirement Association 18,341.22 18,500.00 158. 78 Civil Defense 293.86 1,000.00 706. 14 Dog Control 1,479.50 1,600,00 120.50 Weed Control 1,374.50 1,500.00 125.50 Engineering 12,196, 13 13,150.00 953.87 Street 153,060.50 169,750.00 16,689.50 Sanitation 60,453. 69 61,930.00 1,476.31 Municipal Building 7,560.99 8,000.00 439.01 Health 3,792. 15 3,850.00 57.85 Welfare 6,839.92 8,500.00 1,660.08 Library 21,081.88 21,750.00 668. 12 Recreation 38,158. 13 40,100.00 1,941.87 Parks 26,537,93 28,200.00 1,662.07 Contingencies and Construction 30,442.63 27,500.00 (2,942. 63) Hennepin County Parks 1,367, 10 1,500.00 132.90 Totals $591,672. 61 $626,805.00 $35,132.39 STRAND & ROE -20- EXHIBIT A-4 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31 1960, Appro= (Over) Descriptia_rendit;ures pPriatons Under COUNCIL: Salaries: Mayor $ 300.00 $ 300.00 $ Councilmen 375.00 400.00 25.00 Advertising and Publications 1,095,08 1,150.00 54.92 Travel and Subsistence 986.95 1,350,00 363,05 Subscriptions and Memberships 284.00 300.00 16.00 Total Council $ 3,041,03 $ 3,500.00 $ 458.97 MANAGER'S OFFICE: Salaries: City Manager $9,811. 67 Finance Officer (1/2) 3,282.57 Clerical and Stenographic 7,995. 76 $ 21,090.00 $ 21,500.00 $ 410.00 Communication: Telephone 1,280.17 1,350.00 69.83 Postage 256. 67 265.00 8.33 Advertising and Publications 1,048.08 1,050.00 1.92 Travel and Subsistence 997. 79 1,200,00 202.21 Tuition and Registration 47.00 50.00 3.00 Equipment Maintenance 85.30 225.00 139. 70 Office Supplies 1,204.42 1,275.00 70.58 Subscriptions 221,50 225.00 3.50 Equipment: Used Legal Size 4-Drawer File $105.00 GBC Punching and Binding Unit 100.00 Sand Urns (2) 12.34 Desk W/Typewriter Stand $172.50 Less: Desk Traded 22.50 150.00 367.34 235.00 (132.34) Accrued Liability: Automobile 2,000.00 2,000.00 - Total Manager's Office $ 28,598.27 $ 29,375.00 $ 776.73 MUNICIPAL COURT: Salaries: Judges $ 3,150.00 $ 3,200.00 $ 50.00 Clerk 2,841. 64 3,200.00 358.36 STRAND Other Services: & ROE Court Officers 835.99 850.00 14.01 Jurors' Fees and Expenses 1,266.36 1,300.00 33.64 Communications 209.01 225,00 15.99 Travel and Subsistence 123.12 125.00 1.88 Equipment Maintenance 15. 18 25,00 9.82 Office Supplies 417.51 575,00 157.49 Total Municipal Court $ 8,858,81 $ 9,500.00 $ 641. 19 -21- EXHIBIT A-4 Page 2 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Appro- (Over) llescription Expendituresrip„___anions Under ELECTIONS Salaries $ 3,618.80 $ 3,850.00 $ 231.20 Advertising and Publications 15.00 100.00 85.00 Office Supplies 456.09 550.00 93.91 Total Elections $ 4,089.89 $ 4,500,00 $ 410.11 CITY CLERK: Salaries $ 6,933„25 $ 7,050.00 $ 116. 75 Advertising and Publications - 25,00 25.00 Travel 44.05 75.00 30.95 Tuition 11.00 25.00 14.00 Audit 1,255.00 1,350.00 95.00 Office Supplies 244.24 400.00 155. 76 Subscriptions and Memberships 42.00 75.00 33.00 Total City Clerk $ 8,529.54 $ 9,000.00 $ 470.46 LEGAL SERVICE: Salary - City Attorney $ 1,800.00 $ 1,800.00 $ Travel 253.40 275.00 21.60 Professional Services 1,526.85 1,650.00 123.15 Office Supplies 112.01 150.00 37.99 Reference Publications - 50.00 50.00 Subscriptions and Memberships 47.50 75.00 27.50 Total Legal Service $ 3,739.76 $ 4,000.00 $ 260.24 ASSESSING: Salaries $ 8,340.24 $ 12,110.00 $ 3,769.76 Postage 317. 62 325.00 7.38 Advertising and Publications - 200.00 200.00 Travel 163.27 400.00 236.73 Tuition 7.50 75.00 67.50 Maintenance of Equipment - 50.00 50.00 Office Supplies 193.70 400.00 206.30 Subscriptions and Memberships 58.00 75.00 17.00 Equipment: V Gray 4-Drawer Bentson File (1) 110.16 115.00 4.84 STRAND & ROE Total Assessing $ 9,190.49 $ 13,750.00 $ 4,559.51 ZONING AND PLANNING: Advertising and Publications $ 157.25 $ 250.00 $ 92,75 Travel 11.00 100.00 89.00 Professional Services 1,250.00 1,400.00 150.00 Office Supplies 12.48 200.00 187.52 Subscriptions and Memberships 10.00 50.00 40.00 Total Zoning and Planning $ 1,440.73 $ 2,000.00 $ 559.27 -22- EXHIBIT A-4 Page 3 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year_ Ended December 31 1960 Appro- (Over) Description Expenditures priations Under CHARTER COMMISSION: Advertising and Publications $ 35.25 $ 50.00 $ 14.75 Printing 108.00 200.00 92.00 Professional Services - 50.00 50.00 Office Supplies 6.50 50.00 43.50 Total Charter Commission $ 149. 75 $ 350.00 $ 200.25 INSURANCE: Fire $ 790. 74 $ 800.00 $ 9.26 Comprehensive Automobile 2,005.97 2,050.00 44.03 Workmen's Compensation 7,131.07 7,350.00 218.93 Officials' Bonds 541.00. 550.00 9.00 Total Insurance $ 10,468.78 $ 10,750.00 $ 281.22 POLICE: Salaries $ 73,768.14 $ 73,959.06 $ 190.92 Vacation Pay 2,997.46 2,974.50 (22.96) Holiday Pay 3,419.80 3,581.44 161. 64 Sick Leave 1,261. 14 1,300.00 38.86 Communications: Telephone 1,130.60 1,150.00 19.40 Postage 55.83 60.00 4. 17 Radio 473.42 475.00 1.58 Travel 696.80 700.00 3.20 Tuition 329.50 335.00 5.50 Mileage 20.80 25.00 4.20 Maintenance of Equipment 761.17 800.00 38.83 Maintenance of Vehicles 1,573.89 1,700.00 126.11 Boarding Prisoners 1,902.19 1,675.00 (227. 19) Towing 31.00 35.00 4.00 Office Supplies 824.76 835.00 10.24 Uniforms 449.83 475.00 25. 17 Equipment Gasoline and Oil 1,534.45 1,550.00 15.55 Medical Examinations 213.85 190.00 (23.85) Subscriptions and Memberships 29.50 40.00 10.50 Equipment: Dowden Speed Recorder $ 375.00 Model Jr. Traficounters (2) 103.00 STRAND Prisoner Restraining Equipment 65.50 5 ROE 1960 Plymouth Special 4-Door (2) $4,566. 70 Less: 1959 Plymouth Savoy-Traded (2) 1,900.00 2,666. 70 Radio Switch Box Controls for Cars 69.90 3,280.10 3,290.00 9.90 Total Police $ 94,754.23 $ 95,150.00 $ 395. 77 -23- EXHIBIT A-4 Page 4 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Appro- (Over) Description Expenditures priations Under FIRE Salaries: Fire Calls $ 9,638.00 $ 9,670.00 $ 32,00 Maintenance 1,020.00 1,020,00 - Communications: Telephone 1,804.46 1,930.00 125.54 Radio 464.82 570.00 105. 18 Travel 500.00 500.00 Tuition 200.00 400.00 200.00 Equipment Maintenance 1,524.30 1,500.00 (24.30) Vehicles Maintenance 973. 60 1,200.00 226.40 Clothing 130.00 300.00 170.00 Gasoline and Oil 549.93 1,000.00 450.07 Hose Maintenance 932.30 1,000.00 67. 70 Insurance 196.10 200.00 3.90 Subscriptions and Memberships 96.49 200.00 103.51 Fireman Relief - Statutory 5,667. 67 5,700.00 32.33 Equipment: Motorola Walkie Talkie 410.00 410.00 - Accrued Liability: Fire Truck $9,000.00 Radio 700.00 9,700.00 9,700.00 - Total Fire $ 33,807. 67 $ 35,300.00 $ 1,492.33 INSPECTION SERVICES: Building Inspector $ 515.14 $ 700.00 $ 184.86 Fire Marshall 13.56 - (13.56) Electrical Inspector 1,469.83 1,800.00 330.17 Advertising and Publications - 50.00 50.00 Travel - 100.00 100.00 Tuition 25.00 40.00 15.00 Office Supplies - 60.00 60.00 Subscriptions and Memberships - 50.00 50.00 Total Inspection Services $ 2,023.53 $ 2,800.00 $ 776.47 PUBLIC EMPLOYEES ' RETIREMENT ASSOCIATION $ 18,341.22 $ 18,500.00 $ 158.78 V CIVIL DEFENSE: STRAND & ROE Supplies $ 293.86 $ 1,000.00 $ 706.14 DOG CONTROL: Animal Rescue League $ 1,479.50 $ 1,500.00 $ 20.50 Testing - 100.00 100.00 Total Dog Control $ 1,479.50 $ 1,600.00 $ 120.50 -24- EXHIBIT A-4 Page 5 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Appro® (Over) Description Expenditures priations Under WEED CONTROL: Labor $ 573.79 $ 600.00 $ 26.21 Weed Inspections 450.00 450.00 - Advertising and Publications 17. 60 20.00 2.40 Travel - 10.00 10.00 Spraying 192.82 280.00 87.18 Capital Outlay: Weed Sprayer Hose and Gun Attachment 140.29 140.00 (.29) Total Weed Control $ 1,374.50 $ 1,500.00 $ 125.50 ENGINEERING: Salaries $ 11,621.60 $ 12,200.00 $ 578.40 Travel 73.25 100.00 26.75 Tuition 24.50 75.00 50.50 Equipment Maintenance - 100.00 100.00 Vehicle Maintenance 1.05 50.00 48.95 Office Supplies 293.30 350.00 56.70 Gasoline and Oil 15.37 25.00 9. 63 Miscellaneous Supplies 46.80 100.00 53.20 Subscriptions and Memberships 18.00 50.00 32.00 Capital Outlay: Traffic Counter Vary Tally 102.26 100.00 (2.26) Total Engineering $ 12,196.13 $ 13,150.00 $ 953.87 STREET - ADMINISTRATIVE: Salaries $ 12,908.98 $ 12,718.00 $ (190.98) Vacation Pay 3,794.45 3,679.00 (115.45) Holiday Pay 2,866.43 3,503.00 636.57 Sick Leave 2,358.82 2,350.00 (8.82) Telephone 228.63 235.00 6.37 Utility Services 1,922.12 1,976.00 53.88 Building Maintenance 303.04 350.00 46.96 Vehicle Maintenance 9,588.46 10,075.00 486.54 Office Materials 17.33 25.00 7.67 Gasoline and Oil 5,337.30 5,400.00 62.70 Miscellaneous Supplies 13.16 100.00 86.84 V Shop Supplies 582.66 1,200.00 617.34 STRAND Capital Outlay: & ROE Graw Luber (1) $ 264.95 Sioux Impact Wrench #320 (1) 325.00 Frost Braker 175.00 8 1/2° Swenson Self-Feed.Sprdr. 464.00 Culvert-Milw. R.R. Tracks 6,110.01 Culvert-M.& St.L. R.R. Tracks 13,830.25 Culvert - Sundry 450.34 21,619.55 21,039.00 (580.55) Accrued Liability: Dump Truck 6.000.00 6.000.00 - Total Street - Administrative $ 67,540.93 $ 68,650.00 $ 1,109.07 -25- EXHIBIT A-4 Page 6 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Appro= (Over) Description penditures priations Under STREET - STORM SEWER AND SIDEWALK: Salaries $ 2,106.53 $ 2,200.00 $ 93.47 Sidewalk Maintenance 1. 65 100,00 98.35 Culverts, Pipes, and Supplies 1,635.91 1,800,00 164.09 Capital Outlay: County Road 3 - Culvert 3,536,14 3,700.00 163.86 9 Mile Creek - Culvert 1,870.53 1,900.00 29.47 Ashley Road - Storm Sewer 7,0622.11 7,300.00 237.89 Total Street - Storm Sewer and Sidewalk $ 16,212.87 $ 17,000.00 $ 787.13 STREET - STREET AND ALLEY: Salaries $ 2,757.06 $ 3,000.00 $ 242.94 Street Maintenance 49.41 300,00 250.59 Contractual Materials 838.40 1,500.00 661.60 Miscellaneous Supplies - 1,000.00 1,000.00 Digging Out 9 Mile Creek 1,281.80 2,000.00 718.20 Parking Lot Maintenance 1,323.97 1,200.00 (123.97) Total Street - Street and Alley $ 6,250. 64 $ 9,000.00 $ 2,749.36 STREET - SNOW AND ICE REMOVAL: Salaries $ 2,196,94 $ 6,000.00 $ 3,803.06 Miscellaneous Supplies - 200.00 200.00 Maintenance Materials 1,086.84 5,500.00 4,413. 16 Total Street - Snow and Ice Removal $ 3,283.78 $ 11,700.00 $ 8,416.22 STREET - TRAFFIC SIGNS, SIGNALS , AND MARKING: Salaries $ 1,518.37 $ 1,600.00 $ 81. 63 Electric Service 1,544,44 1,550.00 5.56 Traffic Signal Maintenance 841.78 950.00 108.22 Stripping 1,001.15 900.00 (101.15) Traffic and Street Signs 715. 12 800.00 - 84.88 Total Street - Traffic Signs, Signals, and Marking $ 5 ,620.86 $ 5,800.00 $ 179.14 V STREET - STREET CLEANING: STRAND Salaries $ 4,578.90 $ 4,900.00 $ 321. 10 & ROE STREET - STREET LIGHTING AND TREE SERVICE: Salaries $ 390.31 $ 1,000.00 $ 609. 69 Electricity 18,884.89 19,000.00 115.11 Light Maintenance 16.25 200.00 183. 75 Tree Trimming and Spraying 2,828.91 3,000.00 171.09 Maintenance Supplies 14.14 300.00 285.86 Total Street - Street Lighting and Tree Service $ 22,134.50 $ 23,500.00 $ 1,365.50 -26- EXHIBIT A-4 Page 7 City of Hopkins Hopkins , Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Appro- (Over) Description Expenditures vriations Under STREET - PATCHING: Salaries $ 6,713.32 $ 7,000,00 $ 286. 68 Materials 8,413.49 9,000.00 58.6051 Total Street - Patching $ 15,126.81 $ 16,000,00 $ 873.19 STREET - RESURFACING AND SEALING: Salaries $ 1,679 38 $ 1,725.00 $ 45,62 Supplies 24. 50 25,00 .50 Materials 10,607.33 11,450.00 842. 67 Total Street - Resurfacing and Sealing $ 12,311021 $ 13,200.00 888. 79 Total Street Department $153,060.50 $169,750.00 $16,689.50 GARBAGE PICKUP AND DUMP: Salaries - Administrative $ 5,771.42 $ 5,800.00 $ 28.58 Salaries - Pickup 29,722.76 29,000.00 (722. 76) Salaries - Dump 17,080. 71 17,378.00 297.29 Vacation Pay 828. 64 1,296.00 467.36 Holiday Pay 1,379.65 1,326.00 (53. 65) Sick Leave 469.34 800.00 330. 66 Equipment Maintenance 12.55 100.00 87.45 Vehicle Maintenance 1,041070 1,400.00 358.30 Extermination 180.00 280.00 100.00 Dirt for Land Fill 1,750.00 1,900.00 150.00 Gasoline and Oil 2,168.29 2,500.00 331.71 Miscellaneous Supplies 48. 63 150.00 101,37 Total Garbage Pickup and Dump $ 60,453.69 $ 61,930.00 $ 1,476.31 MUNICIPAL BUILDING: Salaries $ 2,348. 71 $ 2,500.00 $ 151.29 Utilities: Electricity 1,178.04 1,20 0.00 21.96 Heat 1,114.04 1,300.00 185.96 Building Maintenance 1,589.19 1,500.00 (89.19) V Janitorial Supplies 331.01 500.00 168.99 STRAND Accrued Liabilities: & ROE Repairs 1,000.00 1,000.00 - Total Municipal Building $ 7,560.99 $ 8,000.00 $ 439.01 HEALTH: Rural Nursing Service $ 3,569. 65 $ 3,600,00 $ 30.35 Health Officer 200.00 200.00 - Supplies 22,50 50.00 27.50 Total Health $ 3,792.15 $ 3,850.00 $ 57.85 -27- EXHIBIT A-4 Page 8 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31 1960 Appro- (Over) Description Expenditures priations Under PUBLIC WELFARE: County Relief Board - Relief $ 5,637.81 $ 7,200.00 $ 1,562.19 County Relief Board - Administration 1,202. 11 1,300.00 97.89 Total Welfare $ 6,839.92 $ 8,500.00 $ 1,660.08 PUBLIC LIBRARY: Librarians $ 10,758.48 $ 10,990.00 $ 231.52 Janitor 2,154.35 2,210.00 55.65 Communication: Telephone 171.23 240.00 68. 77 Postage 21.12 30.00 8.88 Utilities: Electricity 375.01 400.00 24.99 Heat 494. 62 500.00 5.38 Travel 149.13 150.00 .87 Building Maintenance 75.38 200.00 124. 62 Equipment Maintenance - 30.00 30.00 Office Supplies 133.46 300,00 166.54 Books and Periodicals 4,953.25 5,400.00 446.75 Tools and Supplies 95.10 100.00 4.90 Subscriptions and Memberships 49.00 75.00 26.00 Capital Outlay: Birch Cabinets with Rods (2) $409.50 Typewriter Chair 30.75 Typewriter Stand 33.00 11" Pica Royal Typewriter 178.50 651.75 500.00 (151.75) Accrued Liability: Cornice Repair 1,000.00 625.00 (375.00) Total Public Library $ 21,081.88 $ 21,750.00 $ 668.12 RECREAT ION: Administrative: Salaries $ 12,385.77 $ 12,490.00 $ 104.23 Telephone 263. 68 225.00 (38.68) Postage 93.91 100.00 6.09 Advertising and Publications 663.37 660.00 (3.37) `, Travel 620.30 625.00 4.70 STRAND Tuition 72.25 75.00 2. 75 & ROE Office Supplies 356.43 275.00 (81.43) Miscellaneous Supplies 136.47 140.00 3.53 Subscriptions and Memberships 59.00 60.00 1.00 Total Administrative $ 14,651.18 $ 14,650.00 $ (1. 18) General Activities: Saturday Basketball $ 923.00 $ 950.00 $ 27.00 Jr. and Midget Baseball 541.45 545.00 3.55 Hockey Instruction 2.00 10.00 8.00 Miscellaneous Instruction 5.00 10.00 5.00 Total General Activities $ 1,471.45 $ 1,515.00 $ 43.55 -28- EXHIBIT A-4 Page 9 City of Hopkins Hopkins, Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31 1960 Appro- (Over) Description Expenditures Rriations Under RECREATION: (Continued) Playgrounds: Instruction $ 6,487.08 $ 6,500.00 $ 12.92 Supplies and Tools 593, 74 600.00 6.26 Craft Supplies 675.04 720.00 44.96 Athletic Supplies 591.06 600,00 8.94 Total Playgrounds $ 8,346.92 $ 8,420.00 $ 73.08 Basketball: Officiating $ 650.00 $ 715.00 $ 65.00 Supervision 371.50 450.00 78.50 Supplies 46.08 65.00 18.92 Trophies 153. 66 160.00 6.34 Subscriptions and Memberships 25.00 25.00 - Total Basketball $ 1,246.24 $ 1,415.00 $ 168. 76 Softball: Officiating $ 739.00 $ 740.00 $ 1.00 Supervision 650.00 650.00 - Electricity 385.02 390.00 4.98 Supplies and Tools 80.00 80.00 - Trophies 53.98 55.00 1.02 Balls 266.00 270.00 4.00 Subscriptions and Memberships 124,00 125.00 1.00 Total Softball $ 2,298.00 $ 2,310.00 $ 12.00 Skating Rinks: Supervision $ 1,985.20 $ 2,250.00 $ 264.80 Electricity 142.79 225.00 82.21 Building Maintenance 357.21 300.00 (57.21) Fuel 464.94 450.00 (14,94) Supplies and Tools 174.96 200,00 25.04 Total Skating Rinks $ 3,125,10 $ 3,425.00 $ 299.90 Beach and Pools: Parking Lot Attendant $ 460.00 $ 865.00 $ 405.00 Instruction 2,337,93 2,700.00 362.07 Guarding 3,050,27 3,650.00 599.73 Telephone 136.28 150.00 13.72 vf Electricity 128.50 100.00 (28.50) STRAND Supplies and Tools 906.26 900.00 (6.26) & ROE Total Beach and Pools $ 7,019.24 $ 8,365.00 $ 1,345. 76 Total Recreation $ 38,158. 13 $ 40,100.00 $ 1,941.87 -29- EXHIBIT A-4 Page 10 City of Hopkins Hopkins , Minnesota GENERAL FUND - STATEMENT OF EXPENDITURES For the Year Ended December 31 . 1960 Appro- (Over) Description Expenditures priations Under PARKS: Svlaries $ 9,134.96 $ 9,300.00 $ 165.04 Equipment Maintenance 548.02 625.00 76.98 Rink Maintenance 3,843.20 3,900.00 56.80 Supplies 1,682.35 1,900.00 217. 65 Maintenance Materials 702. 62 675.00 (27. 62) Dow Park: Repair Band Shell $ 68.57 Pool Repair 257.34 Shelter and Slabs (Horseshoes) 92. 10 Landscaping 262.88 Fireplace 124. 73 ' 805. 62 1,300.00 494.38 Burnes Park: Off Street Parking Areas $334.96 - Hockey Rink 297.97 - Shelter (Over Sandbox) 35.10' Landscaping 464.39 Resurface Hardtop 871.50 - Fireplaces (3) 242.50 . 2,246.42 2,450.00 203.58 Cottageville Playground: Open Shelters and Slabs (2) $638. 60 Sandboxes 35. 10 Landscaping .211.50 885.20 1,300.00 414.80 Park Valley Playground: Landscaping $576.20 Blacktop Areas 35. 10 Plumbing 20. 11 631.41 400.00 (231.41) Elmo Park: Landscaping 206. 60 1,800.00 1,593.40 Homedale Park: Landscaping $667.35 Hockey Rinks 505.97 Rink Lights 19. 10 Parking Area Turnaround 423.36 1,615. 78 1,500.00 (115. 78) Shady Oak Beach: Sand Fill $341. 60 - Landscaping 341. 60Landscaping 353. 72 Slab and Fences 310.06 V Repair Well 295.58 STRAND Miscellaneous 53.08 1,354.04 500.00 (854.04) & ROE Softball Field: Fountain $283. 66 Additional Lighting 478.40 Landscaping 407.25 1,169.31 900.00 (269.31) Harley Hopkins: Warming House Addition 73.00 - (73.00) Park Bond Study and Brochure 1,331.05 1,650.00 318.95 Capital Outlay: Desk $145.00 Trailer Sprayer 163.35 308.35 m (308.35) Total Parks $ 26,537.93 $ 28,200.00 $ 1,662.07 -33- EXHIBIT A-7 City of Hopkins Hopkins, Minnesota GENERAL FUND - RECREATION: SELF-SUSTAINING RESERVES OPERATING STATEMENTS For the Year Ended December 31, 1960 Soft Drink Beach Con-Beach Trans- Swimming Recreation Description Dispensers cession portation ®Pool Classes Total STATEMENT OF REVENUES Receipts $989.20 $ $1,944. 65 $3,868.80 $ $ 6,802. 65 Concession Sales 5,709.13 5,709. 13 Merchandise Refund 64. 13 64. 13 Classes: Skating 200. 70 200.70 Dancing 677.00 677.00 Cake Decorating 80. 60 80. 60 Upholstery 330.00 330.00 Millinery 93.35 93.35 Bridge 309.00 309.00 Square Dance 147.94 147.94 Tap and Ballet 850.00 850.00 Astronomy 114.00 114.00 Golf 359.00 359.00 Sewing 91.50 91.50 Christmas Craft 75.00 75.00 Art 113.05 113.05 Day Camp 2.00 2.00 Total Revenues $989.20 $5,773.26 $1,944. 65 $3,868.80 3,443. 14 $16,019.05 STATEMENT OF EXPENDITURES Salaries $ $1,359.56 $ $3,424.31 $ $ 4,783.87 Merchandise & Supplies 382.32 3,198.45 16.80 33.45 3,631.02 Rent 1,609.00 69.00 1,678.00 License 6.50 1.50 8.00 Laundry, 32.20 32.20 Utilities'; 103.43 103.43 Net Gain to S/D 274 426.19 426.19 Instruction: Skating 215.00 215.00 Dancing 328.00 328.00 Cake Decorating 71.50 71.50 Upholstery 300.00 300.00 V Millinery 64.00 64.00 STRAND Bridge 240.00 240.00 & ROE Square Dance 396.00 396.00 Tap and Ballet 902,00 902.00 Astronomy 110.00 110.00 Golf 350.00 350.00 Sewing 80.00 80.00 Christmas Craft 75.00 75.00 Art 80.00 80.00 Total Expendi- tures $382.32 $4,700. 14 $1,609.00 $3,868.80 $3,313.95 $13,874.21 WATER UTILITY FUND STRAND & ROE -34- EXHIBIT B City of Hopkins Hopkins, Minnesot,: WATER UTILITY FUND BALANCE SHEET As At December 31, 1960 ASSETS Treasurer's Cash $ 54,466.54 Petty Cash 100.00 Funds in Hands of Fiscal Agents 6,161.50 Investments 12,084,28 Accounts Receivable 6,043.87 Accrued Interest Receivable 31.42 Due from Other Funds 419.44 Inventory 5 ,285. 60 Prepaid Expenses 58.50 Fixed Assets: Land $ 4,725.20 Wells, Tanks, and Mains $1,262,051.01 Meters 5,341. 64 Office Equipment 1,577.10 Vehicles 7,382.32 $1,276,352.07 Less: Allowance for Depreciation 160 482.96 1,115869. 11 Total Fixed Assets 1,120,594.31 Total Assets $1,205,245.46 LIABILITIES AND SURPLUS Accounts Payable 55.92 Accrued Payroll 577.80 Matured Bonds and Interest 6,161.50 Bonds Payable 345,000.00 Interest Payable 104,669.50 Surplus - Current 77,855.93 Surplus - Invested in Fixed Assets 670,924.81 STRAND Total Liabilities and Surplus $1,205,245.46 & ROE -35- EXHIBIT B-1 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND ANALYSIS OF CHANGES IN SURPLUS Tor the Year Ended December 31 1960 SURPLUS - CURRENT BALANCE - DECEMBER 31 1959 $ 59,757. 77 ADDITIONS: Revenues per Accompanying Statement 112 094.50 $171,852.27 DEDUCTIONS: Expenditures per Accompanying Statement $91,927.46 Adjust Inventory 2,012.88 Refund on Permit 56.00 93,996.34 BALANCE - DECEMBER 31, 1960 $ 77,855,93 SURPLUS - INVESTED IN FIXED ASSETS BALANCE - DECEMBER 31, 1959 $661,911. 68 ADDITIONS: Current Surplus: Chlorinators $1,497.00 Lamp 14. 15 Meters _j,478.47 $ 2,989. 62 Bond and Interest Payments 32 648.00 35 637. 62 $697,549.30 DEDUCTIONS: Depreciation for the Year 26,624.49 RALANCE - DECEMBER 31, 1960 $670,924.81 V STRAND & ROE -36- EXHIBIT B-2 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND STATEMENT OF REVENUES For the Year Ended December 31, 1960 Actual Estimated Over Revenue Revenue Revenue (Under) Service $130,023. 67 Less: Transfer to Sewer Utility 19,503.55 $110,520,12 $93,100.00 $17,420. 12 Other Income: Meters (7) $ 857. 66 Disconnection Charges 150.00 Miscellaneous 21.24 1,028.90 1,000.00 28.90 Interest on Investments 545.48 400.00 145.48 Totals $112,094.50 $94,500.00 $17,594.50 V STRAND & ROE -37- EXHIBIT B-3 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Expendi- Appro- (Over) Description tures priations Under ADMINISTRATIVE: Salaries $ 9,093.06 $ 8,580.00 $ (513.06) Vacation Pay 1,165.03 1,175.00 9.97 Holiday Pay 967.42 1,095.00 127.58 Sick Leave 497.04 550.00 52.96 Communications: Telephone 328.77 350.00 21.23 Postage 207. 65 300.00 92.35 Radio 100.05 100.00 (.05) Travel 11.70 50.00 38.30 Tuition 15.00 50.00 35.00 Equipment Maintenance 298.33 25.00 (273.33) Vehicle Maintenance 674.08 500.00 (174.08) Audit 700.00 700.00 - Office Supplies 435.34 300.00 (135.34) Vehicle Gasoline and Oil 644.31 500.00 (144.31) Fire Insurance 442.09 500.00 57.91 Automobile Insurance 175.93 200.00 24.07 Workmen's Compensation Insurance 426.45 400.00 (26.45) Subscriptions and Memberships 3.00 25.00 22.00 Retirement Contribution 1,309.99 1,500.00 190.01 Capital Outlay: Chlorinators (2) $1,497.00 Fluorescent Lamp (1/2 Cost) 14.15 1,511.15 5,000.00 3,488.85 General Fund Overhead 8,000.00 - (8,000.00) Total Administrative $27,006.39 $21,900.00 ($5,106.39) PUMPS AND WELLS: Salaries $ 5,115.33 $ 6,900.00 $1,784.67 Heat 1,918.56 3,800.00 1,881.44 Electricity 10,790.74 11,000.00 209.26 Miscellaneous Supplies 150.25 100.00 (50.25) Maintenance and Construction Materials 1,743. 13 1,000.00 (743.13) Chemical Supplies 430. 70 1,000.00 569.30 Total Pumps and Wells $20,148.71 $23,800.00 $3,651.29 DISTRIBUTION: STRAND Salaries $ 4,953.44 $ 6,800.00 $1,846.56 & ROE Miscellaneous Supplies 16.35 100.00 83. 65 Maintenance and Construction Supplies: Water Testing Outfit $ 225.95 Servicing Tower and Reservoir 1,495.00 Other 704.51 2,425.46 2,000.00 (425.46) Hydrants (3) 573.30 1,000.00 426. 70 Meter Inspection 110.30 200.00 89. 70 Meter Reading - Payroll 1,652. 76 3,000.00 1,347.24 Meters (57) 2,336. 13 2,000.00 (336. 13) Total Distribution $12,067.74 $15,100.00 $3,032.26 -38- EXHIBIT B-3 Page 2 City of Hopkins Hopkins , Minnesota WATER UTILITY FUND STATEMENT OF EXPENDITURES For the Year Ended December 31 1960 Eapendi- Appro- (Over) Description tures Iylaciooe Under DEBT RETIREMENT: Bonds: Issue of 6-1-54 $10,888.00 $I0,000.00 $ - Issue of 6-1-57 I0,000.00 10,000.00 - Interest: Issue of 6-1-54 4,728.00 4,730.00 2.00 Issue of 6-1-57 7,920.08 7,920,00 - Fiscal � eca Agent Charges 56. 62 Total Debt Retirement $32,704.62 $32,650.00 Grand Totals $91,927'40 $93,450.00 $1,522'54 STRAND & ROE -39- EXHIBIT B-4 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND FIXED ASSETS AND DEPRECIATION As At December 31, 1960 Allowance for Depreciation Balance Deprec. Balance Date Description Cost Rate 12-31-59 1960 12-31-60 12-31-59 Land $ 4,725.20 12-31-60 4,725.20 12-31-59 Wells, Tanks, Mains, and Equipment $1,260,554.01 2% $129,199. 63 Current Surplus: Chlorinators (2) 1,497.00/ 12-31-60 Balance $1,262,051.01 $25,226.05 $154,425. 68 12-31-59 Meters $ 3,863. 17 10% 387. 78 Current Surplus 1,478.477 12-31-60 Balance $ 5,341. 64 460.24 848.02 12-31-59 Office Equipment $ 1,562.95 10% 404.13 Current Surplus: Desk Lamp (1/2) 14.15 ' 12-31-60 Balance $ 1,577.10 - 157.01 561.14 12-31-59 Vehicles: Power Digger (1/2) $ 2,539.03 10% 1,396.46 253.90 1,650.36 Chevrolet 969.09 25% 969.09 - 969.09 Int'l Pickup 1,237.73 25% 1,237.73 - 1,237. 73 1959 Ford F-100 (1/2) ' 737.47 20% 73. 75 147.49 221.24 Worthington Compressor (1/2) 1,899.00 20% 189.90 379.80 569. 70 12-31-60 Balance $ 7,382.32 $ 3,866.93 $ 781.19 $ 4,648.12 Totals $1,281,077.27 $133,858.47 $26,624.49 $160,482.96 STRAND & ROE -40- EXHIBIT B-5 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND REVENUE BONDS As At December 31, 1960 Water Water Revenue Revenue Total DATE OF ISSUE 6. 1-54 6- 1-57 MATURITY DATE June 1 June 1 INTEREST RATE 2.5/2.9/3.0% 4.0/4.3/4.5% BONDS PAYABLE: 1961 $ 10,000.00 $ 10,000.00 $ 20,000.00 1962 10,000.00 10,000.00 20,000.00 1963 10,000.00 10,000.00 20,000.00 1964 10,000.00 10,000.00 20,000.00 1965 12,000.00 10,000.00 22,000.00 1966 12,000.00 10,000.00 22,000.00 1967 12,000.00 10,000.00 22,000.00 1968 12,000.00 10,000.00 22,000.00 1969 12,000.00 10,000.00 22,000.00 1970 13,000.00 10,000.00 23,000.00 1971 13,000.00 10,000.00 23,000.00 1972 13,000.00 10,000.00 23,000.00 1973 13,000.00 10,000.00 23,000.00 1974 13,000.00 10,000.00 23,000.00 1975 20,000.00 20,000.00 1976 20,000.00 20,000.00 Total Bonds Payable $165,000.00 $180.000.00 $345,000.00 FUTURE INTEREST: 1961 $ 4,478.00 $ 7,520.00 $ 11,998.00 1962 4,228.00 7,120.00 11,348.00 1963 3,978.00 6,720.00 10,698.00 1964 3,728.00 6,320.00 10,048.00 1965 3,453.00 5,920.00 9,373.00 1966 3,129.00 5,520.00 8,649.00 1967 2,781.00 5,105.00 7,886.00 1968 2,433.00 4,675.00 7,108.00 1969 2,085.00 4,245.00 6,330.00 1970 1,722.50 3,815.00 5,537.50 1971 1,345.50 3,375.00 4,720.50 v 1972 968.50 2,925.00 3,893.50 STRAND 1973 585.00 2,475.00 3,060.00 & ROE 1974 195.00 2,025.00 2,220.00 1975 1,350.00 1,350.00 1976 450.00 450.00 Total Future Interest $ 35,109.50 69,560.00 $104,669.50 -41- EXHIBIT B-6 City of Hopkins Hopkins, Minnesota WATER UTILITY FUND ACCRUAL OPERATING STATEMENT For the Year Ended December 31 1960 OPERATING INCOME: Water Sales $130,023.67 Less: Allocation to Sewer Utility 19 503.55 $110,520. 12 Other Receipts 171.24 Operating Income $110,691.36 OPERATING EXPENSES: Salaries $ 23,444.08 Utilities: Heat 1,918.56 Electricity 10,790.74 Communication 636.47 Vehicles and Equipment: Maintenance 972.41 Gasoline and Oil 644.31 Office Supplies and Expense 450.34 Audit 700.00 Insurance 1,044.47 Travel 11.70 Subscriptions 3.00 Retirement Contribution 1,309.99 Overhead Charges - General Fund 8,000.00 Servicing Reservoir and Tower 1,495.00 Maintenance and Supplies 3,319.77 Maintenance and Supplies - Mains and Hydrants 2,537.30 Meter Inspection 110.30 Depreciation 26.624.49 Total Operating Expenses 84,012.93 Net Operating Income $ 26,678.43 OTHER INCOME: Interest Earned 545.48 $ 27,223.91 OTHER DEDUCTIONS: po Bond Interest $ 12,510.48 STRAND Bond Service Charges 56.62 & ROE Refund 56.00 12,623. 10 Net Income for the Year $ 14,600.81 S EWER UT ILITY FUND V STRAND & ROE -42- EXHIBIT C City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND BALANCE SHEET As At December 31, 1960 ASSETS Treasurer's Cash $ 89,714.25 Funds in Hands of Fiscal Agent 13,877.50 Accounts Receivable 4,526.75 Inventory 191.00 Prepaid Expenses 58.50 Deposit with Bond Retirement Fund 1,696.75 Due from Special Assessment Fund 8,750.00 Fixed Assets: Pumps and Mains $1,104,932.43 Office Equipment 972.97 Vehicles 20,274. 79 $1,126,180.19 Less: Allowance for Depreciation 197,393. 63 928,786.56 Total Assets $1,047,601.31 LIABILITIES AND SURPLUS Accounts Payable $ 7,698. 77 Accrued Payroll 311.07 Due City of Minneapolis 3,490.92 Due Other Funds 419.44 Matured Bonds and Interest 13,877.50 Bonds Payable 65,000.00 Interest Payable 5,387.50 Due to Bond Retirement Fund 118,714.05 Surplus - Current 93,017.05 Surplus - Invested in Fixed Assets 739,685.01 Total Liabilities and Surplus $1,047,601.31 vo STRAND & ROE -43- EXHIBIT C-1 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND ANALYSIS OF CHANGES IN SURPLUS For the Year Ended December 31, 1960 SURPLUS - CURRENT BALANCE - DECEMBER 31, 1959 $ 68,962.31 ADDITIONS: Revenues per Accompanying Statement $107,456.41 Refund - Prior Year Contract 160.92 107,617.33 $176,579. 64 DEDUCTIONS: Expenditures per Accompanying Statement $ 83,238.09 Adjust Inventory 324.50 83,562.59 BALANCE - DECEMBER 31, 1960 $ 93,017.05 SURPLUS - INVESTED IN FIXED ASSETS BALANCE - DECEMBER 31, 1959 $736,201.27 ADDITIONS: Current Surplus: Lamp $ 14.15 Alarm Panel 410.00 $ 424.15 Special Assessments 1,339.81 Bond and Interest Payments 31,101.00 Deposit with Bond Retirement Fund 817.30 33,682.26 $769,883.53 DEDUCTIONS: Depreciation for the Year 30,198.52 I.- BALANCE - DECEMBER 31 1960 $739,685.01 STRAND & ROE -44- EXHIBIT C-2 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND STATEMENT OF REVENUES For the Year Ended December 31, 1960 Actual Estimated Over Revenue Revenue Revenue (1.1.2§J2) Service $ 84,291.86 $73,500.00 $10,791.86 Transfer from Water Utility 19,503.55 15,500.00 4,003.55 Connection Charges 3,648.00 2,500.00 1,148.00 Supplies 13.00 - 13.00 Totals $107,456.41 $91,500.00 $15,956.41 V STRAND & ROE 1 . 45- EXHIBIT C-3 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Expendi- Appro- (Over) Description tures pritions Under ADMINISTRATIVE: Salaries $ 7,565.33 $ 8,088.00 $ 522.67 Vacation Pay 899.38 612.00 (287.38) Holiday Pay 608. 76 600.00 (8. 76) Sick Leave 303.32 300.00 (3.32) Communications: Telephone 35.27 50.00 14. 73 Postage 226.62 300.00 73.38 Radio 100.05 100.00 (.05) Equipment Maintenance 36. 68 25.00 (11. 68) Vehicle Maintenance 342.03 200.00 (142.03) Audit 700.00 700.00 - Office Supplies 424,76 300.00 (124. 76) Vehicle Gasoline and Oil 628.94 600.00 (28.94) Miscellaneous Supplies 68.02 400.00 331.98 Fire Insurance 236.40 250.00 13.60 Automobile Insurance 54.29 50.00 (4.29) Workmen's Compensation Insurance 339.57 500.00 160.43 Subscriptions and Memberships - 25.00 25.00 Retirement Contribution 785.45 900.00 114.55 Capital Outlay: Fluorescent Lamp (1/2 Cost) $ 14.15 Central Alarm Panel-18 Station 410.00 424. 15 5,000.00 4,575.85 General Fund Overhead 7,000.00 - (7.000.00) Total Administrative $20,779.02 $19,000.00 ($1,779.02) LIFT STATION: Salaries $ 7,425.97 $ 7,200.00 $ (225.97) Heat 278.93 500.00 221.07 Electricity 4,852.03 5,000.00 147.97 Equipment Maintenance 437. 68 500.00 62.32 Supplies 15.78 100.00 84.22 Maintenance and Construction Materials 393. 71 200.00 (193. 71) Chemical Supplies 903.98 500.00 (403.98) Total Lift Station $14,308.08 $14,000.00 $ (308.08) v STRAND MAINTENANCE AND DISPOSAL: & ROE Salaries $ 1,495.31 $ 2,400.00 $ 904. 69 Sewer Disposal Charge 14,870.82 18,900.00 4,029. 18 Miscellaneous Supplies 70.15 100.00 29.85 Maintenance and Construction Materials 498.26 300.00 (198.26) Inspection 93.20 300.00 * 206.80 Total Maintenance and Disposal $17,027. 74 $22,000.00 $4,972.26 1 -46- EXHIBIT C-3 Page 2 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND STATEMENT OF EXPENDITURES For the Year Ended December 31, 1960 Expendi- Appro- (Over) Description tures priations Under DEBT RETIREMENT: Bonds: Issue of 12-1-45 $13,000.00 $13,000.00 $ - Issue of 9-1-58 (Debt Retirement Fund) 13,000.00 13,000.00 - Interest: Issue of 12-1-45 1,755.00 2,000.00 245.00 Issue of 9-1-58 (Debt Retirement Fund) 3,346.00 4,120.00 774.00 Fiscal Agent Charges 22.25 - (22.25) Total Debt Retirement $31,123.25 $32,120.00 $ 996. 75 Grand Totals $83,238.09 $87,120.00 0,881.91 v STRAND & ROE -47- EXHIBIT C-4 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND FIXED ASSETS AND DEPRECIATION As At December 31, 1960 Allowance for Depreciation Balance Deprec. Balance Date Description Cost Rate 12-31-59 _19.1Q__ 12-31-60 12-31-59 Pumps, Mains, etc. $1,103,182.62 2 1/2% $154,287.87 Special Assessments 1,339.81 Current Surplus: Alarm System 410.00 12-31-60 Balance $1,104,932.43 $27,601.45 $181,889.32 12-31-59 Office Equipment $ 958.82 10% 237.93 Desk Lamp (1/2 Cost) 14.15 12-31-60 Balance $ 972.97 96.58 334.51 12-31-59 Vehicles and Other: Power Digger (1/2 Cost) $ 2,470.03 10% 1,358.51 247.00 1,605.51 Chevrolet 1/2 Ton 1,298.00 25% 1,298.00 - 1,298.00 1954 Intl Pickup 1,237. 73 1,137.73 - 1,137. 73 1952 Chev. 3/4 Ton 495.00 445.00 - 445.00 Carryall Trailer 361.85 336.85 - 336.85 Fordson Diesel 6,553.00 5,562.00 491.00 6,053.00 Hoist Box 566.50 495. 70 70.80 566.50 Bell Hole Bucket 204.20 102.10 51.05 153.15 Rodding Machine 3,980.00 1,492.50 995.00 2,487.50 Electric Motor 473.00 177.37 118.25 295. 62 1959 Ford F-100 (1/2 Cost) 737.48 20% 73. 75 147.49 221.24 Worthington Com- pressor (1/2 Cost) 1,898.00 189.80 379.90 569. 70 12-31-60 Balance $ 20,274.79 $ 12,669.31 $ 2,500.49 $ 15,169.80 loef Totals $1,126,180.19 $167,195.11 $30,198.52 $197,393. 63 STRAND & ROE -48- EXHIBIT C-S City of ]Hopkins Hopkins, Minnesota SEWER UTILITY FUND REVENUE BONDS As At December 31, 1960 Bonds Interest Total DATE OF ISSUE: 12-1-45 MATURITY DATE: Dec. 1 INTEREST RATE: 2.257. PAYABLE: 1961 $13,000.00 $1,662.50 $14,662.50 1962 13,000.00 1,370.00 14,370.00 1963 13,000.00 1,077.50 14,077.50 1964 13,000.00 785.00 13,785.00 1965 13,000.00 292.50 13,292.50 Totals $65,000.00 $5,187.50 $70,187.50 V STRAND & ROE -49- EXHIBIT C-6 City of Hopkins Hopkins, Minnesota SEWER UTILITY FUND ACCRUAL OPERATING STATEMENT For the Year Ended December 31 1960 OPERATING INCOME: Sewerage Disposal Charges $84,291.86 Allocation from Water Utility 19,503.55 Connection Charges 3,648.00 Operating Income $107,443.41 OPERATING EXPENSES: Salaries $18,298.07 Utilities: Heat 278.93 Light and Power 4,852.03 Communication 361.94 Vehicles and Equipment: Maintenance 816.39 Gasoline and Oil 628.94 Office Supplies and Expense 492.78 Audit 700.00 Insurance 630.26 Retirement Contribution 785.45 Sewerage Disposal Charges 14,870.82 Maintenance and Supplies 2,032.46 Overhead Charge - General Fund 7,000.00 Inspection 93.20 Depreciation 30,198.52 Total Operating Expenses 82,039.79 Net Operating Income $ 25 ,403. 62 OTHER DEDUCTIONS: Interest $ 5,723.54 Bank Service Charges 22.25 5,745. 79 v STRAND Net Income for the Year $ 19,657.83 & ROE PERMANENT IMPROVEMENT REVOLVING FUND V STRAND & ROE -50- EXHIBIT D City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND BALANCE SHEET As At December 31 1960 ASSETS Treasurer's Cash $ 172,106.82 Accounts Receivable 2,603. 68 Assessments Receivable 874,914. 16 To Be Assessed 186,810. 19 Due from Other Funds 13,148.05 Work In Process 81,121.98 Total Assets $1,330,704.88 LIABILITIES , RESERVES , AND SURPLUS Projects Authorized $ 186,810. 19 Fund Balance 830,000.00 Surplus - Unappropriated 313,894. 69 Total Liabilities, Reserves, and Surplus $1,330,704.88 V STRAND & ROE -51- EXHIBIT D-1 City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND ANALYSIS OF CHANGES IN SURPLUS BALANCE - DECEMBER 31, 1959 $203,684.46 ADDITIONS: Revenues per Accompanying Statement $123,679,04 Current Year Assessment Fees 63,184.48 Interest Charge on Project 608 25,733.33 Adjust Assessments Receivable 27,518.57 240 115.42 $443,799.88 DEDUCT I ONS: Applied to Assessments Receivable $123,679.04 County Auditor Fees 142.34 Loss of Interest - City Property 348.35 Loss of Interest - Prepayment 5,607.56 State Exempt Property 127.90 129,905. 19 BALANCE - DECEMBER 31, 1960 $313,894. 69 V STRAND & ROE -52- EXHIBIT D-2 City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND STATEMENT OF REVENUES For the Year Ended December311960 Actual Description Revenue Tax Settlements $105,184036 Collections by City 18,494. 68 Total Revenues $123,679.,04 V STRAND & ROE -53- EXHIBIT D-3 City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND ASSESSMENTS RECEIVABLE As At December 31 1960 BALANCE - DECEMBER 31, 1959 $ 652,985.51 ADD: Assessments Completed $325,332.40 Unrecorded Assessments 27 518.57 352,85O97 $1,005,836.48 DEDUCT: County Collections $105,184.36 Payments Direct to City 18,494.68 Interest Cancelled by Prepayment 5,607.56 Cancellation of Assessments on Properties Acquired by City 1,635. 72 130 922,32 BALANCE - DECEMBER 31, 1960 $ 874,914.16 STRAND & ROE -54- City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND CONSTRUCTION COSTS For the Year Ended December 31 1960 Construction Payments Adminis- Eliminated Project In Progress Current trative or Location Number 12-31-59 Year Overhead Transferred BLACKTOP: Block 1, West Mpls. III 303 $ 705.67 $ 220.00 $ 58.30 $ West Excelsior Ave. 606 283.00 - - Block 1, West Mpls. III 808 - - - Block 13, West Mpls. III 813 - - - 3rd St. , 6th to 8th Ave. 815 3,917.89 80.00 14. 70 2nd St. 6-12/14-17 Ave. 816 15,403.09 727.20 127. 18 Block 21, West Mpls. Center 822 236.00 28.35 14.99 Block 67 824 1,675.93 105.00 15,75 Campbell West 828 1,685.53 273.65 41:05 Campbell Third 908 - 4,360. 67 654. 10 Block 68, West Mpls. III 919 758.81 55.22 20.28 Alley Block 76, West Mpls. II 001 - 346.75 52.01 Alley Block 82, West Mpls. II 005 - 722.43 108.36 12th Ave. So. 006A - 4,478. 70 671.81 Van Buren - 1st & 2nd So. 007 - 4,591.87 688.78 21st Ave. No. 008 - - - 1st Street No. 009 - - - Jackson Ave. No. 012 - - - Boyce Ave. 018 - - - Goodrich Ave. 019 - - - Oakwood Ave. 020 - - - Holly Road 021 - - - Ashley Road 022 - 86. 76 13.01 9th Ave. No.-1st to Excelsior 028 - - - 9th Ave. So.-P.O. to Excelsior 031 - - - Alley, Block 2, West Mpls. 033 - - - 5th Street So. 038 - 5,119.00 1,481.25 2nd St. No.-Tyler to Monroe 044 - 4,292.62 643.89 Alley-Block 107 West Mpls. II 045 - - - Alley-Block 65 West Mpls. II 050 - - - PAVING-RECONSTRUCTION: Excelsior Ave. 701 1,645.78 - - S EWER: Block 5, West Mpls. III 814 - - - Oakridge Road 901 1,339.81 - - Drillane 906 24,332.86 9,327.83 5,028.36 Monroe Ave. No. 015 - - - Hiawatha Ave. 040 - - - WATER: Jackson So. of 2nd St. No. 732 116.01 - - Monroe Ave. -2nd St. No.& Madison 825 - - - Monroe Ave. No. 014 - - - Hiawatha Ave. 041 - - - Wayside Road 049 - 686.52 100.10 -54- EXHIBIT D-4 1 Interest Assessed Construction Projects Contracts and Fee Property City In Progress Authorized Payable Charges Total Owners Share 12.-31-60 . 12-31-60 12-31-60 $ 194.57 $ 1,178.54 $ 1,178.54 $ $ - $ - $ 283.00 283.00 3,304.35 - (a) - 801.32 4,813.91 4,813.91 - - 3,266.94 19,524.41 19,524.41 - - 58. 14 337.48 337.48 - 288. 78 2,085.46 1,763.20 322.26 - - 388.99 2,389.22 2,391.22 (2.00) (2.00) 5,014. 77 5,014.77 7,700.00 167.88 1,002.19 1,002.19 398.76 398.76 305.00 830. 79 830.79 1,159.00 5,150.51 5,150.51 4,140.00 5,280. 65 5,280. 65 3,450.00 4,488.00 2,242.00 3,818.00 3,974.00 8,197.00 3,312.00 6,624.00 99.77 99. 77 9,315.00 6,440.00 3,376.00 1,256.00 6,600.25 6,600.25 10,246.00 4,936.51 4,936.51 5,750.00 784.43 1,104.00 1,645.78 1,645.78 11,880.01 1 V 2,202.40 STRAND 865.16 2,204.97 2,204,97 & ROE 38,689.05 38,689.05 36,500.00 6,095.00 7,384.00 116.01 116.01 4,439.00 4,610.00 4,705.00 786. 62 786.62 - -55- City of Hopkins Hopkins, Minnesota PERMANENT IMPROVEMENT REVOLVING FUND CONSTRUCTION COSTS For the Year Ended December 31 1960 Construction Payments Adminis- Eliminated Project In Progress Current trative or Location Number 12-31-59 Year Overhead Transferred CURB AND GUTTER: 2nd St. No. 902 $ 7,221.02 $ - $ 138.24 (a) 721.28 Third St. No. 903 1,791.74 - 10.20 12th Ave. So. 006B - 194.33 29.15 1st St. No. 011 - - - 5th St. So. - So. Side 036 - 2,862.62 448.91 5th St. So. - No. Side 037 - 3,480.00 522.00 CURB: 2nd St. No. 817 707.17 - 14.11 (a) (721.28) Lot 22, Block 1, West Mpls. 823 ASPHALTIC CURB: Campbell Drive 907 - 1,255.80 188.37 SIDEWALK: Jackson Ave. So. 909 2,161.06 - 43.12 INSTALLING STREETS: 7th St. So. 003A - 333.36 50.04 14th Ave. So. 003B - - - 12th Ave. So. 004B - 1,590.94 212.95 SUNDRY: Parking Lots 608 199,258.92 25,733.33 842.80 (210.00) DRIVEWAYS: 20th Ave. No. 042 - 106.99 16.05 Totals $263,240.29 $71,059.94 $12,249.86 $(210.00) -55- EXHIBIT D-4 Page 2 Interest Assessed Construction Projects Contracts and Fee Property City In Progress Authorized Payable Charges Total Owners Share 12-31-60 12-31-60 12-31-60 $ 1,593.30 $ 9,673.84 $ 9,673.84 $ $ - $ - $ 349. 70 2,151.64 2,151.64 - - 223.48 223.48 144.00 1,868.00 3,311.53 3,311.53 3,450.00 4,002.00 4,002.00 4,456.00 - - 156.00 1,444.17 1,444.17 3,400.00 433.56 2,637. 74 2,637.74 - - 383.40 383.40 1,942.00 392.00 1,803.89 1,803.89 1,978.00 54,776.14 280,401. 19 277,653.26 2,747.93 - - 123.04 123404 226.00 $63,184.48 „409,524.57 $325,332.40 $3,070.19 $81,121.98 $186,810.19 V STRAND & ROE SPECIAL ASSESSMENT FUND t/ STRAND & ROE -56- EXHIBIT E City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND BALANCE SHEET As At December 31 1960 ASSETS Treasurer's Cash $ 65,343. 57 Funds in Hands of Fiscal Agents 50,122.00 Assessments Receivable 259,985.82 Investments 174,457.00 Accrued Interest Receivable 313,87 Total Assets $550,222,26 LIABILITIES RESERyES AND SURPLUS Matured Bonds and Interest $ 50,122.00 Due to Other Funds 21,898005 Bonds Payable 223,000.00 Interest Payable 16,630.00 Surplus - Unappropriated 238,572,21 Total Liabilities, Reserves, and Surplus $550,222.26 STRAND & ROE -57- EXHIBIT- E-1 City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND ANALYSIS OF CHANGES IN SURPLUS For the Year Ended December 31 1960 BALANCE - DECEMBER 31, 1959 $ 33,260.41 ADDITIONS: Revenues per Accompanying Statement $ 92,238,05 Adjust Assessments Receivable 200,252. 18 Payment on Fund Loan 1,250.00 Payment on Bonds 64 876.00 358 616.23 $391,876. 64 DEDUCTIONS: Expenditures per Accompanying Statement $ 66,336.23 Applied to Assessments Receivable 85,718.55 Loss of Interest - Prepayment 1,249. 65 153 ,304.43 BALANCE - DECEMBER 31, 1960 $238572.2i STRAND & ROE -58- EXHIBIT E-2 City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENT FUND OPERATING STATEMENTS For the Year Ended December 31. 1960 STATEMENT OF REVENUES Actual Description Revenue Tax Settlement $82,194.47 Direct Collections by City 3,524.08 Interest on Investments 6,519.50 Total $92,238.05 STATEMENT OF EXPENDITURES Description Expenditures Water (1947) Principal $ 2,000.00 Interest 264.00 Improvements (1952) Principal 11,000.00 Interest 770.00 Improvements (1953) Principal 25,000.00 Interest 2,862.00 Improvements (1954) Principal 20,000.00 Interest 2,980.00 Due to Sewer Utility 1,250.00 Fiscal Agent Charges 99.12 County Auditor Charges 111.11 Total $66,336.23 lodr STRAND & ROE -59- EXHIBIT E-3 City of Hopkins Hopkins, Minnesota SPECIAL ASSESSMENTS FUND ASSESSMENTS RECEIVABLE As At December 31 1960 BALANCE - DECEMBER 31 1959. $146, 707.02 ADD: Unrecorded Assessments 200,252. 18 $346,959.20 DEDUCT: County Collections $82,194.47 Payments Direct to City 3,524.08 Interest Cancelled by Prepayment 1,249.35 Cancellation of Assessments on Properties Acquired by City 5.0 86,973.38 BALANCE - DECEMBER 31, 1960 $259,985.82 V STRAND & ROE -60- EXHIBIT E-4 City of Hopkins Hopkins , Minnesota SPECIAL ASSESSMENT FUND BOND MATURITIES As At December 31 1960 Water Improvement Bonds Totals DATE OF ISSUE 11- 1-47 12- 1-52 5- 1-53 6- 1-54 MATURITY DATE Jan. 1 Feb. 1 Dec. 1 Dec. 1 INTEREST RATE ' 1.8/2.4% 2% 2. 7% 2.4/2.8% BONDS PAYABLE: 1961 (a) $11,000.00 $25,000.00 $ 20,000.00 $ 56,000.00 1962 $2,000.00 11,000.00 25,000.00 20,000.00 58,000.00 1963 2,000.00 11,000.00 31,000.00 20,000.00 64,000.00 1964 1,000.00 20,000.00 21,000.00 1965 1,000.00 2,000.00 3,000.00 1966 1,000.00 2,000.00 3,000.00 1967 1,000.00 2,000.00 3,000.00 1968 1,000.00 2,000.00 3,000.00 1969 2,000.00 2,000.00 1970 2,000.00 2,000.00 1971 2,000.00 2,000.00 1972 2,000.00 2,000.00 1973 2,000.00 2,000.00 1974 2,000.00 2,000.00 Total Bonds Payable $9,000.00 $33,000.00 $81,000.00 $100,000.00 $223,000.00 FUTURE INTEREST: 1961 $(a) 108.00 $ 550.00 $ 2,187.00 $ 2,500.00 $ 5,345.00 1962 192.00 330.00 1,512.00 2,020.00 4,054.00 1963 144.00 110.00 837.00 1,540.00 2,631.00 1964 108.00 1,060.00 1,168.00 1965 84.00 580.00 664.00 1966 60.00 524.00 584.00 1967 36.00 468.00 504.00 1968 12.00 412.00 424.00 1969 356.00 356.00 1970 300.00 300.00 1971 240.00 240.00 1972 180.00 180.00 1973 120.00 120.00 1974 _ 60.00 60.00 STRAND & ROE Total Future Interest $ 744.00 $ 990.00 1_4,536.00 1 10,360.00 $ 16,630.00 Note: (a) Payment due January 1, 1961, remitted to fiscal agent in December, 1960. BOND RETIREMENT FUND STRAND & ROE -61- EXHIBIT F City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND BALANCE SHEET As At December 31, 1960 ASSETS Treasurer's Cash $ 75,383.99 Funds in Hands of Fiscal Agents 7,042,00 Due from Other Funds 118,714.05 Current Tax Levy 100,375.00 Future Tax Levy 395,961.00 Total Assets $697,476.04 LIABILITIES , RESERVES, AND SURPLUS Matured Bonds and Interest $ 7,042.00 Bonds Payable 560,500.00 Interest Payable 68,029.50 Reserve for Sewer Utility Fund Issue 1,696.75 Reserve for Uncollectible Taxes 31,485.55 Surplus - Unappropriated 28,722.24 Total Liabilities, Reserves, and Surplus $697,476.04 vo STRAND & ROE -62- EXHIBIT F-1 City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND ANALYSIS OF CHANGES IN SURPLUS For_the Year_Ended December 31 1960 BALANCE - DECEMBER 31 1959 $ 25,071.42 ADDITIONS: Revenues per Accompanying Statement $133,995. 13 Current Funds Usage Reduced 8 161.00 142 156. 13 $167,227.55 DEDUCTIONS: Expenditures per Accompanying Statement 138,505.31 BALANCE - DECEMBER 31, 1960 $ 28,722.24 Po STRAND & ROE -63- EXHIBIT F-2 City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND OPERATING STATEMENTS For the Year Ended December 31 1960 STATEMENT OF REVENUES Actual Estimated Over Description Revenue Revenue (12.114.2.1) Tax Settlements $117,649.13 $119,863.00 $(2,213.87) Sewer Utility Fund - P.I.R. Fund Bonds of 1958 - Principal and Interest 16,346.00 16,346.00 Total Revenues $133,995. 13 $119,863.00 $14,132.13 STATEMENT OF EXPENDITURES Actual Appro- Over Description Expenditures priations (ELIA2I) Water (1945) Principal $ 2,500.00 $ 2,500.00 $ - Interest 180.00 195.00 15.00 Storm Sewer (1949) Principal 8,000.00 8,000.00 - Interest 76.00 152.00 76.00 Fire Equipment (1952) Principal 5,000.00 5,000.00 - Interest 241.50 241.00 (.50) Storm Sewer (1953) Principal 20,000.00 20,000.00 - Interest 2,520.00 2,520.00 - Permanent Improvements (1949) Principal 5,000.00 5,000.00 - Interest 87.50 87.00 (.50) Permanent Improvements (1950) Principal 15,000.00 15,000.00 - Interest 225.00 225.00 - Permanent Improvements (1952) Principal 10,000.00 10,000.00 - Interest 700.00 700.00 - Permanent Improvements (1954) Principal 5,000.00 5,000.00 - Interest 110.00 110.00 - Permanent Improvements (1955) Principal 15,000.00 15,000.00 - Interest 4,950.00 4,950.00 - Permanent Improvements (1957) Principal 20,000.00 20,000.00 - Interest 7,350.00 7,350.00 - Permanent Improvements (1958) Principal 13,000.00 (13,000.00) po Interest 3,346.00 (3,346.00) STRAND Fiscal Agent Charges 219.31 (219.31) & ROE Total Expenditures $138,505.31 $122,030.00 ($16,475.31) -64- City of Hopkins Hopkins , Minnesota BOND RETIREMENT FUND GENERAL OBLIGATION BONDS As At December 31, 1960 Permanent Im rp oVe- DATE OF ISSUE 12- 1-52 12- 1-55 MATURITY DATE Feb, 1 Dec. 1 INTEREST RATE 2% 3/0 -ONDS PAYABLE: 1961 $10,000.00 $ 25,000.00 1962 10,000,00 25,000.00 1963 10,000.00 25,000.00 1964 25,000.00 1965 25,000.00 1966 25,000.00 1967 1968 1969 Total Bonds Payable $30,000.00 $150,000.00 FUTURE INTEREST: 1961 $ 500.00 $ 4,500.00 1962 300.00 3,750.00 1963 100.00 3,000.00 1964 2,250.00 1965 1,500.00 1966 750.00 1967 1968 1969 Total Future Interest $ 900.00 $ 15,750.00 DATE OF ISSUE 12- 1-52 12- 1-55 RESERVE FOR UNCOLLECTIBLE TAXES: 1961 $ 500.00 $ 1,500.00 1962 500.00 1,550.00 1963 1,400,00 1964 1,450.00 1965 1,400.00 1966 1,350.00 1967 1968 _- - Total Reserve for Uncollectible Taxes 1_1,20,11 1_8,650.00 Total Bonds, Interest, and Reserve Q3.1 900.00 $174,400.00 -64- EXHIBIT F-3 ment Revolving Fund Water Fire Storm Total Bonds Equipment Sewer Total 6- 1-57 3- 1-45 3- 1-52 9- 1-53 June 1 Jan. 1 Mar. 1 Mar. 1 3. 7/4. 1% 1.2% 2. 1% 2.87 $ 20,000.00 $ 55,000.00 $ (a) $5,000.00 $20,000.00 $ 80,000.00 20,000.00 55,000.00 2,500.00 4,000.00 20,000.00 81,500.00 20,000.00 55,000.00 2,500.00 20,000.00 77,500.00 20,000.00 45,000.00 2,500.00 20,000.00 67,500.00 20,000.00 45,000.00 2,500.00 47,500.00 20,000.00 45,000.00 2,500.00 47,500.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 $180,000.00 $360,000.00 $12,500.00 $9,000.00 $80,000.00 $461,500.00 $ 6,610.00 $ 11,610.00 $(a) 75.00 $ 136.50 $ 1,960.00 $ 13,781.50 5,870.00 9,920.00 135.00 42.00 1,400.00 11,497.00 5,130.00 8,230.00 105.00 840.00 9,175.00 4,390.00 6,640.00 75.00 280.00 6,995.00 3,650.00 5,150.00 45.00 5,195.00 2,870.00 3,620.00 15.00 3,635.00 2,050.00 2,050.00 2,050.00 1,230.00 1,230.00 1,230.00 410.00 410.00 410.00 $ 32,210.00 $ 48,860.00 $ 450.00 $ 178.50 $ 4,480.00 $ 53,968.50 6- 1-57 3- 1-45 3- 1-52 9- 1-53 $ 1,790.00 $ 3,790.00 $ 160.00 $ 363.50 $ 890.00 $ 5,203.50 1,730.00 3,780.00 151.00 258.00 4,189.00 Po 1,670.00 3,070.00 142.00 760.00 3,972.00 STRAND 1,610.00 3,060.00 133.00 3,193.00 & ROE 1,650.00 3,050.00 125.00 3,175.00 1,630.00 2,980.00 2,980.00 1,550.00 1,550.00 1,550.00 1,570.00 1,570.00 1,570.00 $ 13,200.00 $22,850.00 $ 711.00 $ 621.50 $ 1,650.00 $ 25,832.50 $225,410.00 $431,710.00 $13,661.00 $9,800.00 $86,130.00 $541,301.00 -65- City of Hopkins Hopkins , Minnesota BOND RETIREMENT FUND GENERAL OBLIGATION BONDS As At December 31 1960 DATE OF ISSUE 12- 1-52 12- 1-55 FUNDS PROVIDED BY: Levies Collectible In: 1961 $11,000.00 $ 31,000.00 1962 10,800.00 30,300.00 1963 29,400.00 1964 28,700.00 1965 27,900.00 1966 27,100.00 1967 1968 1969 Total Levies $21,800.00 $174,400.00 TO BE OBTAINED FROM CURRENT FUNDS 10,100.00 Totals as Above $31,900.00 $174,400.00 Note: (a) Payment due January 1, 1961, remitted to fiscal agent in December, 1960. -65- EXHIBIT F-3 Page 2 went. Revolving Fund Water Fire Storm Total Bonds Equipment Sewer Total 6- 1-57 3- 1-45 3- 1-52 9- 1-53 $ 28,400.00 $ 70,400.00 $ 2,825.00 $4,30M0 $22,850.00 $100,375.00 27,600.00 68,700.00 2,786.00 21,250.00 92,736.00 26,800.00 56,200.00 2,747.00 21,600.00 80,547.00 26,000.00 54,700.00 2,708.00 57,408,00 25,300.00 53,200.00 2,670 00 55,870.00 24,500.00 51,600.00 51,600.00 23,600.00 23,600.00 23,600.00 22,800.00 22,800.00 22,800.00 11,400.00 11,400.00 11.400.00 $216,400.00 $412,600.00 $13,736.00 $4,300.00 $65,700.00 $496,336.00 9,010.00 19,110.00 (75.00) 5,500.00 20,430.00 44,965.00 $225,410.00 $431,710.00 $13,661.00 $9,800.00 $86,130.00 $541,301.00 Pet STRAND & ROE -66- EXHIBIT F-4 City of Hopkins Hopkins, Minnesota BOND RETIREMENT FUND REVENUE BONDS - BOND AND INTEREST SUMMARY As At December 31 1960 SEWER UTILITY REVENUE BONDS DATE OF ISSUE: 9- 1-58 MATURITY DATE: Dec. 1 INTEREST RATE: 2.5/3.4% Bonds Future Year Payable Interest Reserve(a) Total 1961 $ 13,000.00 $ 3,021.00 $ 801,05 $ 16,822.05 1962 13,000.00 2,696.00 784.80 16,480.80 1963 13,000.00 2,332.00 766.60 16,098.60 1964 12,000.00 1,968.00 698.40 14,666.40 1965 12,000.00 1,596.00 679.80 14,275.80 1966 12,000.00 1,224.00 661.20 13,885.20 1967 12,000.00 816.00 640.80 13,456.80 1968 12,000.00 408.00 620.40 13,028.40 Totals $ 99,000.00 $14,061.00. $ 5,653.05 /118,714.05 (a) Reserve deposited with Bond Retirement Fund by Sewer Utility. SUMMARY - BOND RETIREMENT FUND Bonds Future Description Payable Interest Reserve Total Tax Levy Issues (Exhibit F-3) $461,500.00 $53,968.50 $25,832.50 $541,301.00 Revenue Issue (Above) 99,000.00 14,061.00 5,653.05 118,714.05 Totals $560,500.00 $68,029.50 /31,485.55 660 015.05 TAX LEVIES v Certified to County Auditor $496,336.00 STRAND& ROE Less: Due on Current Collections 100,375.00 Collections - Future Years 095,961.00 CAPITAL FUND V STRAND & ROE -67- EXHIBIT G City of Hopkins Hopkins, Minnesota CAPITAL FUND BALANCE SHEET As At December 31 1960 ASSETS Land $ 345,988.02 Buildings 152,298.83 Vehicles $212,636.96 Less: Allowance for Depreciation 1.343.01 211,293.95 Equipment $162,378.32 Less: Allowance for Depreciation 2,937.52 159,440.80 Other Improvements 1,818,732.31 Total Assets $2,687,753.91 LIABILITIES AND SURPLUS Surplus - Invested in Fixed Assets $2,687,753.91 Total Liabilities and Surplus $2,687,753.91 ko STRAND & ROE -68- EXHIIBIT G-1 City of Hopkins Hopkins, Minnesota CAPITAL FUND ANALYSIS OF CHANGES IN SURPLUS BALANCE - DECEMBER 31, 1959 $2,401,171.81 ADDITIONS: Surplus - Unappropriated: Executive: File Cabinet - 4 Drawer $ 105.00 GBC Punch and Binding Unit 100.00' Sand Urns (2) 12.34/ Desk 150.00/ Assessing: -o Bentson File - 4 Drawer 110.16_"4: 7 7 •� Police: Speed Recorder 375.00/ Traficounter 103.00 ' Prisoner Restraining Equipment 65.50! 1960 Plymouths (2) 4,566. 70 Radio Switch Controls 69.90" Fire: Motorola Walkie Talkie 410.00 Weed Control Weed Spray Hose and Gun 140.297' Engineering: Traffic Counter - Vary Tally 102.26 // ^ ,� 15 Street: ,,oJ"'� Graw Luber 264.95 ' ,F',", " Sioux Impact Wrench 325,00/ ter Frost Braker 175.00/ a-O 1+,',!/T Swenson Self-Feeding Spreader 464.00/ 118 Culverts 32,860.38 Library: Cabinets 409.50/ Typewriter Chair 30,75 / Typewriter Stand 33.00/ Royal Typewriter 178.50 / Recreation: Desk 145.007 Trailer Sprayer 163.35/ Parks 8,987.38 Land: Parks - 20th Avenue No. 450.00/ Right of Way 1,500.007' ko 22 - 8th Avenue No. 14,000.00 '' $ 66,296.96 STRAND Special Assessments: & ROE Blacktop $ 26,194. 60/ Curb and Gutter 9,012. 76/ Sidewalk 2,161.06/ Parking Lots 199,048.92/ 236,417.34 302,714.30 $2,703,886. 11 DEDUCTIONS: Traded - 1959 Plymouths $ 4,989.42 Returned - Parking Meters 10,735.00 Depreciation for the Year - Engineering 407. 78 16,132.20 BALANCE - DECEMBER 31, 1960 $2,687,753.91 -69- EXHIBIT G-2 City of Hopkins Hopkins, Minnesota CAPITAL ASSETS As At December 31, 1960 Balance Balance Descri tp ion 12-31-59 Additions Eliminations 12-31-60 LAND: City Hall Site $ 23,000.00 $ $ $ 23,000.00 Library Site 20,000.00 20,000.00 / Garage, Shop, and Whse. Site 15,000.00 15,000.00 -' Gravel Pit 7,887.50 7,887.50 Parking Lots 60,067. 70 14,000.00z 74,067.70 ` Parks and Playgrounds 118,534.58 450.00 ✓ 118,984.58 '/ Right of Ways 81,096.46 1,500.00z' 82,596.46 -- New City Hall Site 285.00 285.00 ' Fair Grounds Drainage System 4,166. 78 4,166. 78 Z Total Land $ 330,038.02 $ 15,950.00 $ $ 345,988.02 BUILDINGS: City Hall, Fire Department, and Jail $ 73,000.00 $ $ $ 73,000.00 Library 19,000.00 19,000.00 -) Shop and Warehouse 21,300.00 21,300.00 Garages (2) 21,413.26 21,413.26 Parks and Playgrounds 17,019.59 17,019.59 Heavy Equipment Shed 565.98 . 565.98 Total Buildings $ 152,298.83 $ $ $ 152,298.83 FURNITURE AND EQUIPMENT: City Hall $ 28,842, 65 $ 477.50v' $ $ 29,320. 15 Library 21,433.42 651. 75 / 22,085. 17 ✓ Police Department 5,247.08 613.40 / 5 ,860.48 Street Department: Concrete Mixer 533.20 533.20 Backfill Tamper 206.00 206.00 Used Pulvi Mixer 450.00 450.00 Steam Cleaner 100.00 100.00 Dragline Bucket 489.13 489. 13 Chain Saw 311. 69 311. 69 Snow Plow Blades 435.38 435.38 Wire Gutter Broom 447.50 447.50 Electro Magic Steam Cleaner 356.00 356.00 po Chain Saw 263. 66 263. 66 STRAND Graw Luber 264.95 / 264.95 & ROE Sioux Impact Wrench 325.00 / 325.00 Frost Braker 175.00/ 175.00 Swenson Self-Feeding Spreader 464.00/ 464.00 Other 29,430.57 29,430.57 Fire Department 20,227. 72 410.00 ,z 20,637. 72 ' Parks and Playgrounds 26,782.57 26,782.57 Recreation 3,363.29 145.00 /' 3,508.29 / Stores: Diesel Tank 58.06 58.06v Industrial Pump 361. 19 361. 19 -70- EXHIBIT G-2 Page 2 City of Hopkins Hopkins , Minnesota CAPITAL ASSETS As At December 31 1960 Balance Balance Description 12-31-59 Additions Eliminations 12-31-60 FURNITURE AND EQUIPMENT: (Continued) Aerial Maps $ 13,743.00 $ $ $ 13,743.00 ''' Engineering 4,026.71 102.26 4,128.97' Beach Concessions 955.35 955.35 Civil Defense 545.00 545.00 '---- Weed Weed Control 140.29 / 140.291 Total Furniture and Equipment $ 158,609.17 $ 3,769. 15 $ $ 162,378.32 VEHICLES: Police Department: Motorcycle - 1953 $ 695.00 $ $ $ 695.00`/ 1959 Plymouths (2) 4,989.42 4,989.42 1960 Plymouths (2) 4,566.70 4,566. 70 Fire Department: 1941 LaFrance Fire Truck 5,500.00 5,500.00 1941 Buffalo Fire Truck 9,963. 64 9,963. 64 1952 Mack Fire Truck 16,500.00 16,500.00 1932 Pirsch Pumper 900.00 900.00 1958 Rescue Truck and Body 9,375.53 9,375.537- Sanitation ,375.537- Sanitation Department: 1952 Ford Truck 6,032. 62 6,032. 62 1957 Ford Chassis 4,597.00 4,597.00 1953 White Truck and Gar Wood Garbage Packer 7,244.90 7,244.90 Crawler Tractor 16,667.00 16,667.00 Hough Payloader 15,466.00 15,466.00 Engineering Department: Chevrolet Truck 1/2 Ton 1,343.01 1,343.01' Recreation Department: 1950 Chev. 1/2 Ton Panel 450.00 450.00,-- Tractor 50.00,--Tractor Mower 486.45 486.45 "- Trailer Trailer Sprayer 163.35 163.35 / Street Department: 1942 Mack Tank Truck 495.00 495.00 1944 International Truck 500.00 500.00 1953 International Truck 4,485.59 4,485.59 1954 International Truck 4,502.94 4,502.94 V 1954 International Truck 3,972.94 3,972.94 STRAND Mpls. Moline "R" Tractor 2,169.50 2,169.50 & ROE Mpls. Moline "U" Tractor 5,557.50 5,557.50 1948 Cat. Motor Grader 10,809.00 10,809.00 Huber 5-8 Ton Roller 5,034.26 5,034.26 Elgin Sweeper 10,355.00 10,355.00 Trailer 200.00 ✓ 200.00 1952 Chevrolet Truck 579.45 579.45 Snow Loader 1,550.00 1,550.00 International Pickup 350.00 350.00 Cat. Diesel Motor Grader 11,241.00 11,241.00 Truck Carrier and Trailer Axle Wheels 574.00 574.00 l -71- EXHIBIT G-2 Page 3 City of Hopkins Hopkins, Minnesota CAPITAL ASSETS As At December 31, 1960 Balance Balance Description 12-31-59 Additions Eliminations 12-31-60 VEHICLES: (Continued) Street Department: (Continued) Tarco Salt Spreader and Electric Starter $ 573.60 $ $ $ 573. 60 Trailer 510.00°' 510.00 9 Wheel Roller 729.20 729.20 1951 Studebaker Panel Truck 495.00 495.00 1953 Dodge Truck & Hoist Box 1,468.50 1,468.50 1953 Ford Truck 802.00 802.00 Dump Box 757.00 757.00 Cub Tractor Hyd. System-1 Blade 600.00 600.00 Rotary Mower 310.00 310.00 Sherman Loader and Material Bucket 1,800.00 1,800.00 1951 Ford Chassis Cab 595.00 595.00 Austin-Western Pickup Street Sweeper 10,548.00 10,548.00 Dunn Steel Body 340.00 340.00 1957 International Truck 3,495.66 3,495. 66 1957 International Truck 3,495.67 3,495. 67 Dunn Steel Body and Gar Wood St. Paul Hoists (2) 2,442.00 2,442.00 Gar Wood St. Paul Hoist 485.00 485.00 Loraine Moto Loader 18,500.00 18,500.00 1959 Ford F-100 1,474.95 1,474.95 Swenson Spreaders (2) 888.00 888.00 Total Vehicles $ 212,896.33 $ 4,730.05 $ 4,989.42 $ 212,636,96 OTHER IMPROVEMENTS: Streets, Alleys, and Sidewalks $1,08T,229.92 $ 70,228.80 $ $1,157,458. 72 Street Lights 116,145.47 116,145.47V Parking Meters 23,073.15 23,073. 15 Parking Meters - Municipal Lots 11,577.80 10,735.00 842.80/ Sign Lights 16,400.00 16,400.00 -- Parking 6,400.00 -- Parking Lots 23,030.52 199,048.92 / 222,079.44 / Storm Sewers 259,772.12 259,772.12 Traffic Signals 13,973.23 13,973.23; Parks Y 8,987.38 8,987.38 Po STRAND & ROE Total Other Improve- ments $1,551,202.21 $278,265. 10 X10,735.00 $1,818,732.31 Totals $2,405,044.56 $302,714.30 $15,724.42 $2,692,034.44 -72- EXHIBIT G-3 City of Hopkins Hopkins, Minnesota GENERAL FUND FIXED ASSETS AND DEPRECIATION .- ENGINEERING DEPARTMENT As At December 31, 1960 Allowance for_Depreciat.ion Balance Deprec. Balance Date Description Cost Rate 12-31-59 1960 1231-60 Prior Berger Dumpy Level $ 310.00 10 $ 248.00 $ 31.00 $ 279.00 Royal Typewriter 142.38 113.91 14.23 128. 14 File Cabinet 69.50 55.60 6.95 62.55 Monroe Calculator 125.00 100.00 12.50 112,50 Desk 142. 65 114.15 14.26 128.41 Blueprint Cabinet 242. 75 194.16 24.27 218.43 Steel File 91.26 72.99 9.13 82. 12 1953 File Cabinet 80.70 56.49 8.07 64.56 Friden Calculator 340.00 238.00 34.00 272.00 Blueprint Cabinet 56.25 39.41 5. 63 45.04 Drafting Table 115.00 80.50 11.50 92.00 1954 Posture Chair 27.95 16.80 2.80 19. 60 Steel Gray Desk 182.44 109.50 18.25 127. 75 Gray Executive Desk 126.23 75.72 12. 62 88.34 Royal Typewriters (2) 355.00 213.00 35.50 248.50 File Cabinets (2) 237.60 142.56 23. 76 166.32 Press-ur-Meter w/Case 153.50 92.10 15.35 107.45 Aerial Maps 262.00 157.20 26.20 183.40 Shelving 21.50 12.90 2,15 15.05 H.R.V.P. Transit 550.00 302.50 55.00 357.50 1957 Engineer's Level 350.00 87.50 35.00 122.50 Brunson Rod 45.00 6. 75 4.50 11.25 1960 Traffic Counter 102.26 5.11 5. 11 Total Equipment $4,128.97 $2,529.74 $407.78 $2,937.52 Prior Chevrolet Panel Truck 1,343.01 25% 1,343.01 1,343.01 Po Totals $5,471.98 $3,872. 75 $407. 78 $4,280.53 STRAND & ROE II 1 SUPPLEMENTARY STATEMENTS STRAND & ROE -73- EXHIBIT H City of Hopkins Hopkins, Minnesota COMBINED BALANCE SHEET - ALL FUNDS As At December 31 1960 ASSETS Cash on Hand and in Banks: Petty Cash $ 425.00 Cash on Hand 17,909.00 Banks 531,508.01 $ 549,842.01 Funds in Hands of Fiscal Agents 77,203,00 Investments 211,541.28 Accounts Receivable 18,545.48 Assessments Receivable: Permanent Improvement Revolving Fund $ 874,914.16 Special Assessment Fund 259,985.82 1,134,899.98 Municipal State Aid Fund 89,755.00 Accrued Interest Receivable 449.92 Future Assessments 186,810.19 Current Tax Levy 629,679,00 Future Tax Levy 395,961.00 Inventories 26,177.34 Prepaid Expenses 689.50 Work In Process 81,121.98 Fixed Assets 5,099,291.90 Total Assets $8,501,967.58 LIABILITIES , RESERVES , AND SURPLUS Accounts Payable $ 13,184.97 Contracts Payable - Sewage Disposal 3,490.92 Accrued Liabilities 22,600.00 Matured Bonds and Interest 77,203.00 Accrued Payroll 6,817.91 Projects Authorized 186,810.19 Prepaid Revenues 17,909.00 Bonds Payable 1,193,500.00 Interest Payable 194,716.50 Reserves: Reserve for Depreciation $ 362,157. 12 Reserve for Current Tax Levy 529,304.00 Reserve for Uncollectible Taxes 31,485.55 Reserve for Municipal State Aid Fund 89,755.00 1,012,701. 67 po Fund Balance 830,000.00 STRAND Surplus: & ROE Unappropriated $ 673,796.71 Current 170,872.98 Invested in Fixed Assets 4 098 363. 73 4,943,033.42 Total Liabilities, Reserves, and Surplus $8,501,967.58 -74- City of Hopkins Hopkins, Minnesota COMBINED BALANCE SHEET BY FUNDS As At December 31 1960 Recreation General Rental Self- Assets Revenue Parking Property Si.,..21141.ning,. Treasurer's Cash $ 68,110.55 ($214.50) $1,900.86 $4,695.93 Petty Cash 325.00 Cash on Hand 17,909.00 Funds in Hands of Fiscal Agents Accounts Receivable 5,371. 18 Investments 25,000.00 Due from Other Funds Municipal State Aid Fund 89,755.00 Current Tax Levy 529,304.00 Future Tax Levy Due from Bond Retirement Fund Special Assessments Receivable To Be Assessed Accrued Interest Receivable 104.63 Inventories (At Cost) 20,325. 74 375.00 Work In Process Prepaid Expenses 572.50 Fixed Assets Total Assets ,$756,777.60 $160.50 $1,900.86 $4,695.93 Liabilities, Reserves, and Surplus Accounts Payable $ 5,035.69 $ 14.34 $ $ 380.25 Due City of Minneapolis - Sewage Disposal Matured Bonds and Interest Accrued Payroll 5,848.24 80.80 Due to Other Funds Accrued Liabilities 22,600.00 Projects Authorized • Prepaid Revenue 17,909.00 Bonds Payable Interest Payable Reserve for Depreciation Reserve for Current Tax Levy 529,304.00 Reserve for Uncollectible Taxes Reserve for Sewer Utility Issue Reserve for Municipal State Aid Fund 89,755.00 Fund Balance Surplus: Current or Unappropriated 86,325. 67 65.36 1,900.86 4,315.68 Invested in Fixed Assets Total Liabilities, Reserves, and Surplus $756,777.60 $160.50 $1,900.86 $4,695.93 -74- EXHIBIT H-1 Total Permanent Special Bond General Water Sewer Improvement Assessment Retirement Capital Fund Utility Utility Revolving Fund Fund Fund Total $ 74,492.84 $ 54,466.54 $ 89,714.25 $ 172,106.82 $ 65,343.57 $ 75,383.99 $ $ 531,508.01 325.00 100.00 425.00 17,909.00 17,909.00 6,161.50 13,877.50 50,122.00 7,042.00 77,203.00 5,371.18 6,043.87 4,526.75 2,603.68 18,545.48 25,000.00 12,084.28 - 174,457.00 211,541.28 419.44 8,750.00 13,148.05 118,714.05 141,031.54 89,755.00 89,755.00 529,304.00 100,375.00 629,679.00 395,961.00 395,961.00 1,696.75 1,696.75 874,914.16 259,985.82 1,134,899.98 186,810.19 186,810.19 104.63 31.42 313.87 449.92 20,700.74 5,285.60 191.00 26,177.34 81,121.98 81,121.98 572.50 58.50 58.50 689.50 1.281,077.27 1,126,180.19 2,692,034.44 5,099,291.90 $763,534.89 $1,365,728.42 $1,244,994.94 61,330,704.88 $550,222.26 $697,476.04 $2,692,034.44 $8,644,695.87 $ 5,430.28 $ 55.92 $ 7,698.77 $ $ $ $ $ 13,184.97 3,490.92 3,490.92 6,161.50 13,877.50 50,122.00 7,042.00 77,203.00 5,929.04 577.80 311.07 6,817.91 119,133.49 21,898.05 141,031.54 22,600.00 22,600.00 186,810.19 186,810.19 17,909.00 17,909.00 345,000.00 65,000.00 223,000.00 560,500.00 1,193,500.00 104,669.50 5,387.50 16,630.00 68,029.50 194,716.50 160,482.96 197,393.63 4,280.53 362,157.12 529,304.00 529,304.00 31,485.55 31,485.55 1,696.75 1,696.75 89,755.00 89,755.00 830,000.00 830,000.00 92,607.57 77,855.93 93,017.05 313,894.69 238,572.21 28,722.24 844,669.69 670,924.81 739,685.01 2,687,753.91 4,098,363.73 $2,692,034.44 $8,644,695.87 $763,534.89 $1,365,728.42 $1,244,994.94 $1,330,704.88 $550,222.26 $697,476.04 DR, l 1\4j II ( ' refSala. ft,kem-rim -75- EXHIBIT H-2 City of Hopkins Hopkins, Minnesota COMBINED COMPARATIVE BALANCE SHEETS As At December 31 1960 As At As At Increase Assets 12-31-59 12-31-60 (Decrease) Cash on Hand and in Banks $ 450,597. 67 $ 549,842.01 $ 99,244.34 Funds in Hands of Fiscal Agents 23,226.50 77,203.00 53,976.50 Investments 161,640.80 211,541.28 49,900.48 Accounts Receivable 14,735.41 18,545.48 3,810.07 Assessments Receivable 799,692.53 1,134,899.98 335,207.45 Municipal State Aid Fund - 89,755.00 89,755.00 Accrued Interest Receivable 1,812.68 449.92 (1,362. 76) Future Assessments 354,571.97 186,810.19 (167,761.78) Current Tax Levy 600,765.00 629,679,00 28,914.00 Future Tax Levy 496,336.00 395,961.00 (100,375.00) Inventories 29,431. 60 26,177.34 (3,254.26) Prepaid Expenses 1,010.00 689.50 (320.50) Work In Process 263,240.29 81,121.98 (182,118.31) Capital Assets 4,807,548.44 5.099,291.90 291,743,46 Total Assets $8,004,608.89 $8,501,967.58 $497,358. 69 Liabilities, Reserves, and Surplus Accounts Payable $ 36,988.53 $ 13,184.97 $(23,803.56) Contracts Payable - Projects 22,526.00 - (22,526.00) Contracts Payable - Sewage Disposal 4,188.37 3,490.92 (697.45) Funds in Escrow 2,000.00 - (2,000.00) Accrued Liabilities 13,400.00 22,600.00 9,200.00 Matured Bonds and Interest 23 226.50 77,203.00 53,976.50 Accrued Payroll 4,875.96 6,817.91 1,941.95 Notes Payable 9,000.00 - (9,000.00) Projects Authorized 354,571.97 186,810. 19 (167,761.78) Prepaid Revenues 18,062.00 17,909.00 (153.00) Bonds Payable 1,403,000.00 1,193,500.00 (209,500.00) Future Interest 235,781.50 194,716.50 (41,065.00) Reserves: Reserve for Depreciation 304,926.33 362,157.12 57,230. 79 Reserve for Current Tax Levy 480,902.00 529,304.00 48,402.00 Reserve for Uncollectible Taxes 38,386.85 31,485.55 (6,901.30) Reserve for Municipal State Aid - 89,755.00 89,755.00 Fund Balance 830,000.00 830,000.00 - STRAND Surplus: & ROE Unappropriated 294,768.04 673,796. 71 379,028.67 Current 128,720.08 170,872.98 42,152.90 Invested in Fixed Assets 3,799,284. 76 4,098.363.73 299,078,97 Total Liabilities, Reserves, and Surplus $8,004,608.89 $8,501,967.58 $497,358.69 -�-- -�� -'----------------------------------�- � -��- | -76- EXHIBIT H-3 City of Hopkins Hopkins, Minnesota TREASURER'SiSH BALANCE As At December 31 1960 Balance Add: Less: Per Bank Deposits Outstanding Balance Bank Type of Account Statement In Transit Checks ?er 800ko First Nat' l Bank General Fund ¢417`091.48 $ 783.31 $27,094.32 $390,780.45 N. W. Nat'l Bank Payroll Account 2,873.35 - 2,872.35 - N. W. Nat' l Bank Special Assessments 31,475.43 33,868. 14 - 65,343.57 N. W. Nat'l Bank Bond Retirement I9,980.29 55,403.70 - 75.383,99 Totals $471,420.53 $90,055.15 7. 67 $53l,508.01 SUMMARY General Fund: General Revenue $68,110'55 Parking (214,58) Rental Property I,900.86 Recreation - Self-Sustaining 4,695.93 $ 74,492.84 Service Utilities: Water $54,466.54 Sewer 89,714.25 144,180.79 Permanent Improvement Revolving Fund 172,106,82 Special Assessment Fund 65,343.57 Bond Retirement Fund 75,383.99 Total As Above S531,508,01 po STRAND & ROE -77- EXHIBIT H-4 City of Hopkins Hopkins, Minnesota ACCOUNTS RECEIVABLE As At December 31 1960 GENERAL REVENUE: American Municipal Association $ 20.00 Eden Prairie Township 150,00 Federated Mutual 1,275.97 L, Harris 1.15 William J. Hissam I58.00 Independent School District No, 274 36.47 Minneapolis Gas Co. 71/.00 Alton Munson I00. 72 C. R. Peterson 5.20 Pizza Plaza 18.52 Earl Sewall 2,858. 15 Joseph C. Vesely 38,00 $ 5,371' 18 PERMANENT IMPROVEMENT REVOLVING FUND: Harold N. Hansen $2,098.82 G. E. Howell 490.58 Hagen and Mason 14.28 2,603. 68 WATER FUND: Leibenberg & Kaplan 129.40 SEWER FUND: Gustafson & Fuxa 36, 70 PUBLIC UTILITIES: Route Water Sewer Total Commercial $ 533.84 $ 491. 74 $ 1,025.58 IA 559.27 284.50 843. 77 lB 220.68 155' 65 376.33 2A 256.78 143,41 400,19 2B 200.69 214.25 515,04 3 204.32 156. 66 360.98 4 153' 11 98.50 251.61 5A 533,23 564. 19 1,097,42 5B 387.50 380.23 767.73 5C 641.30 493. 10 1,134.40 6 657.39 495.50 1,152.89 7 296.46 428.54 725'00 P'‘ 8 306' 19 266.95 573. 14 STRAND 9 140.24 75.00 215.24 an»c l&& 28'21 24.00 52'21 10@ 268.39 54.50 322.89 11 202.47 65.25 267. 72 12 224'40 97.98 322.38 $5,914.47 ¢4,490.05 $10,404'52 Water Division 5,914.47 Sewer Division 4,490.05 Total to Exhibit A $18,545.48 -78- City of Hopkins Hopkins, Minnesota INTERFUND ACCOUNTS As At December 31, 1960 RECEIVABLES Special Water Sewer P.I.R. Assessment UtiliIi Fund Fund Classification of Receipts $419.44 $ $ $ Parkridge Sewer Reimbursement 8,750.00 Sewer Revenue Bond Reserve 1,696. 75 Classification of Receipts 78.50 Classification of County Remittance 13,226.55 Sewer Revenue Bonds and Reserve Totals $419.44 $10,446. 75 $13,226.55 $78.50 -78- EXHIBIT H-5 PAYABLES Bond Special Bond Retirement Sewer P.I.R. Assessment Retirement Fund Total Utility Fund Fund Fund Total $ $ 419.44 $ 419.44 $ $ $ $ 419.44 8,750.00 8,750.00 8,750.00 1,696. 75 1,696.75 1,696. 75 78.50 78.50 .78.50 13,226.55 13,226.55 13,226.55 118,714.05 118,714.05 118,714.05 118,714.05 $118,714.05 $142,885.29 $119,133.49 $78.50 $21,976.55 $1,696. 75 $142,885.29 STRAND & ROE -79- EXHIBIT H-6 City of Hopkins Hopkins, Minnesota INVENTORIES As At December 31 1960 Descri tp ion Amount GENERAL REVENUE: Office Supplies: Municipal Office $ 2,015.97 Police 440.00 Equipment and Supplies: Engineering Department 20.00 Parking Meters and Supplies 375.00 Road Maintenance and Supplies: Street Department 16,553. 77 Sport and Craft Supplies: Recreation 1,296.00 $20,700. 74 WATER DIVISION: Water Main Parts $ 2,498.02 Hydrants 1,474.30 Hydrant Parts 835.45 Supplies 477.83 5,285. 60 SEWER DIVISION: Parts and Supplies 191.00 Total to Exhibit A $26,177.34 STRAND & ROE -80- EXHIBIT H-7 City of Hopkins Hopkins, Minnesota ACCOUNTS PAYABLE As At December 31 1960 GENERAL FUND: General Revenue: Dorholt Printing Co. 23.50 Ernest Jr. Duda 215.48 Daniels Studio 5,50 Ehmiller & Cermak 16. 70 Farnham's 303.40 Gopher State Exterminating 15.00 Jerry Beversdorf 8.00 Gustafson-Fuxa 84,44 Hopkins Parts 57.66 Hopkins Sand & Gravel 151.00 Justus Lumber 3.32 International Salt 1,069.38 Investment Bankers Ass 'n 2.00 Kinn Standard Service 21.90 Larson's Clothing 65.00 Lampert Yards 3. 68 Midwest Planning 500.00 Hennepin County Review 7.00 W. C. Whitney 147.52 Mpls. Sub. Newspapers 130. 76 Miller-Davis 124.45 H. G. Nelson 35.00 Shady Oak Hardware 18.90 Wally's Auto Electric 14.50 Hopkins Pure Oil 4.00 Kokesh Hardware 22.50 Veeder-Root , Inc. 102.26 Typewriter Sales 6. 60 Albinson 7. 77 Striping Service 289.20 R. R. Bowker Co. 11.00 John F. Hanley 119.44 N. W. Bell Telephone 351.36 B. F. Goodrich Stores 161, 70 Minn. Fire Equipment 68.50 Standard Oil Co. 131.58 Animal Rescue League 109.50 Hopkins School District 426. 19 Work House 200.00 $ 5,035. 69 10° PARKING: STRAND Magee-Hale Park-O-Meter 14.34 & ROE SELF-SUSTAINING: Coca Cola Bottling Co. 380.25 WATER FUND: Hopkins Parts $ 7.55 Lampert Yards 3.20 N. W. Bell Telephone 26.42 Dorholt Printing Company 18. 75 55,92 -81- EXHIBIT H-7 Page 2 City of Hopkins Hopkins, Minnesota ACCOUNTS PAYABLE As At December 31, 1960 SEWER FUND: Fairbanks-Morse $ 106.94 Fadden Pump Co. 71. 75 Transport Clearings 4.43 City of Minneapolis 7,492.98 N. W. Bell Telephone 3.92 Dorholt Printing Co. 18. 75 $ 7,698.77 Total $13,184.97 ko STRAND & ROE -82- EXHIBIT ---- City of Hopkins Hopkins, Minnesota SEWER UTILITY ACCUONTS']AJABLEr0 CITY OF MINNEAPOLIS SEWAGE DISPOSAL Si��E� COSTS As At December 31 I960 Installment Due Amount December 31, 1961 $ 680.51 December 31, 1962 663.56 December 31, 1963 646. 61 December 31, 1964 629. 67 December 31, 1965 414.43 December 31, 1966 319.36 December 31, 1967 106'49 December 31, 1968 30.29 Total to Exhibit A $3,49O.92 10* STRAND ^ poc -83- City of Hopkins Hopkins, Minnesota BONDED INDEBTEDNESS - ALL FUNDS For the Year Ended December 31, 1960 Issue Interest Description Dated Rate GENERAL OBLIGATION BONDS: P.I.R. Fund 12- 1-49 1. 75% P.I.R. Fund 9- 1-50 1.5 P.I.R. Fund 12- 1-52 2.0 P.I.R. Fund 6- 1-54 2.2 P.I.R. Fund 12- 1-55 3.0 P.I.R. Fund 6- 1-57 3. 7 4.1 Total P.I.R. Bonds Water 3- 1-45 1.2 % Storm Sewer 7- 1-49 1.9 Fire Equipment 3- 1-52 2. 1 Storm Sewer 9- 1-53 2.8 P.I.R. Sewerage System Revenue (a) 9- 1-58 2.5 2.8 3. 1 3.4 Total General Obligation Bonds SPECIAL ASSESSMENT FUNDS: Water 11- 1-47 2.4 % Improvement Bonds 12- 1-52 2.0 Improvement Bonds 5- 1-53 2. 7 Improvement Bonds 6- 1-54 2.4 2.8 3.0 Total Special Assessment Funds WATER REVENUE: Water Utility 6- 1-54 2.5 % 2.9 3.0 Water Utility 6- 1-57 4.0 4.3 4.5 Total Water Revenue SEWER SYSTEM REVENUE: Sewerage System Revenue 12- 1-45 2.25% Total - All Funds Notes: (a) Issue of 1958 payable through Bond Retirement Fund from Sewer Revenue. (b) January 1, 1961, payments forwarded to Fiscal Agent. -83- EXHIBIT H-9 Interest Balance Issued Paid Balance Paid 1- 1-60 1960 1960 12-31-60 1960 $ 5,000.00 $ $ 5,000.00 $ - $ 87.50 15,000.00 15,000.00 - 225.00 40,000.00 10,000.00 30,000.00 700.00 5,000.00 5,000.00 - 110.00 165,000.00 15,000.00 150,000.00 4,950.00 120,000.00 20,000.00 100,000.00 4,070.00 80,000.00 80,000.00 3,280.00 $ 430,000.00 $ $ 70,000.00 $ 360,000.00 $13,422.50 $ 15,000.00 $ (b) $ 2,500.00 12,500.00 $ 180.00 8,000.00 8,000.00 - 76.00 14,000.00 5,000.00 9,000.00 241.50 100,000.00 20,000.00 80,000.00 2,520.00 26,000.00 13,000.00 13,000.00 650.00 26,000.00 26,000.00 728.00 24,000.00 24,000.00 744.00 36,000.00 36,000.00 1,224.00 $ 679,000.00 $ $118,500.00 $ 560,500.00 $19,786.00 $ 11,000.00 $ (b) $ 2,000.00 $ 9,000.00 $ 264.00 44,000.00 11,000.00 33,000.00 770.00 106,000.00 25,000.00 81,000.00 2,862.00 100,000.00 20,000.00 80,000.00 2,400.00 10,000.00 10,000.00 280.00 10,000.00 10,000.00 300.00 $ 281,000.00 $ $ 58,000.00 $ 223,000.00 $ 6,876.00 $ 62,000.00 $ $ 10,000.00 $ 52,000.00 $ 1,425.00 87,000.00 87,000.00 2,523.00 26,000.00 26,000.00 780.00 70,000.00 10,000.00 60,000.00 2,600.00 40,000.00 40,000.00 1,720.00 80,000.00 80,000.00 3,600.00 $ 365,000.00 $ $ 20,000.00 $ 345,000.00 $12,648.00 STRAND $ 78,000.00 $ $ 13,000.00 $ 65,000.00 $ 1,755.00 $1,403,000.00 $ $209,500.00 $1,193,500.00 $41,065.00 -84- City of Hopkins Hopkins, Minnesota INSURANCE IN FORCE As At December 31. 1960 Latest Policy Policy Endorsement Policy Number Carrier Date Date Term Amount 0303-102306 Mutual Service Casualty 3- 3-59 3- 3-64 5 Yrs. $648,219.00 Insurance Co. CA-3094 Great Northern Insurance Co. 4- 3-60 4- 3-61 1 Yr. 100/300M 50M $150.00 Ded. Various 7-18-60 4- 3-61 7-18-60 4- 3-61 WC 850347 Federated Mutual Implement and Hardware Insurance Co. 1- 1-60 1- 1-61 1 Yr. Statutory (A) Annual Premium -84- EXHIBIT H-10 90% Co-Insurance Premium Description Buildings Contents (A) $1,469.23 Fire and Extended Coverage; V. & M. M. City•Hall, Fire Dept. & Jail-723 Excelsior Ave. $ 62,400.00 $ 27,000.00 Library - 120 9th Avenue So. 20,160.00 63,000.00 Water Tower and Tank - 120 9th Avenue So. 73,900.00 Water Treatment Plant and Pump House #1 - Block 23, End of 9th Avenue So. 57,100.00 Water Treatment Plant and Pump House #3 - Monk Avenue and 2nd Street No. 63,765.00 Street Dept. Garage and Warehouse - 11th Avenue So. Near 2nd Street So. 17,820.00 900.00 Band Stand - 924 - 1st Street So. 1,494.00 900.00 Street Dept. Shop-lith Ave. So. Near 2nd St. So. 10,800.00 4,500.00 Warming House - 30 - 13th Avenue No. 900.00 Warming House - 119 Monroe So. 495.00 Warming House - 307 - 2nd Avenue No. 1,008.00 Minnehaha Creek Lift Station - Meadowbrook Golf Course and Excelsior Avenue 2,140.00 10,800.00 11th Ave. Lift Station - 11th Avenue and 2nd Street So. 1,710.00 6,750.00 Peaceful Valley Lift Station - 643-7th Ave. So. 3,800.00 8,100.00 Herman Olson Well House - Lot 7 Souba's Addition 15,200.00 54,000.00 Water Treatment Plant #4 - Lot 7 Souba's Addition 22,550.00 58,150.00 Water Tank - Lot 18 - Auditor's Sub. #239 41,750.00 Street Dept. Warehouse (Bldg. E) 11th Ave. 900.00 Garage - Storage - 15 - 8th Avenue No. 1,800.00 Bath House - S 1/2 Shady Oak Addition 4,527.00 1,350.00 Basement Dwelling - Lots 4 & 5, Block 3 Shady Oak 3,150.00 Dwelling, Lots 5 & 6, Section 26-117-22 5,400.00 $410,069.00 $238,150.00 2,226. 75 Automobile - Fleet Insurance Bodily Injury Property Damage Collision on Police Cars Fire and Windstorm 5.08 Change of Car - 1960 Plymouth S#39012112674 STRAND Ct f. #243 & ROE 4.36 Change of Car - 1960 Plymouth S#3901212270 Ctf. #242 7,897.09 Workmen's Compensation - Employees -85- City of Hopkins Hopkins, Minnesota INSURANCE IN FORCE As At December 31, 1960 Latest; Policy Policy Endorsement Policy Number Carrier Date Date Term Amount Bond #623-88 Western Surety Company 12-31-59 12-31-60 1 Yr. $ 10,000.00 40,000.00 25,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000,00 1,000.00 15,000.00 1,000.00 5,000.00 Bond #960200-60 Western Surety Company 12-13-60 12-13-67 7 Yrs. Bond #933251-60 Western Surety Company 3- 1-60 8- 1-62 2 Yrs. 1,000.00 Bond #676186-60 Western Surety Company 3- 1-60 8- 1-62 2 Yrs. 1,000.00 Bond #881380 Western Surety Company 3- 1-60 3- 1-61 1 Yr. 1,000.00 VD 012976 American Casualty Company 6- 6-60 6- 6-61 1 Yr. of Reading, Pennsylvania -85- EXHIBIT H-10 Page 2 Premium Description $ 511.00 Name - Position Bond - City Manager - Richard L. Brubacher City Treasurer - Richard L. Brubacher Deputy Treasurer - Clifford R. Peterson Finance Officer - Christen P. Nielsen Municipal Court Clerk - Donald C. Nelson Assist. Water Superintendent - Joseph Hromadko Director of Recreation - Laurenz A. Harris Assist. Supt. of Recreation - Betty M. Frazee Superintendent of Policemen - Howard A. Puck Police Dispatcher - Raymond J. Kiengle Patrolmen - Fifteen Bookkeeper - Lola I. Noergard Office Clerk - Five 7.00 Notary Public Bond - Clifford R. Peterson 9.50 Assessor's Bond - Joseph Hromadko 8.50 Assistant Assessor's Bond - Arlyn Sala 5.00 Deputy Assessor's Bond - William R. Thompson 196. 10 Volunteer Firemen's Accident Accidental Death or Injury Death $5,000.00 - Injuries or Disablements per Schedule. Pot STRAND & ROE -86- EXHIBIT H-11 City of Hopkins Hopkins, Minnesota MUNICIPAL COURT STATEMENT OF RECEIPTS AND EXPENDITURES For the Year Ended December 31 1960 BALANCE - DECEMBER 31 1959 $ 26.31 RECEIPTS ; Fines, Fees, Bail, and Other 34 350. 62 $34,376. 93 EXPENDITURES: Transmitted to City Treasurer $33,510.93 Bank Charges .80 Fees Collected by City Treasurer (1) 6.00 33 517,73 BALANCE - DECEMBER 31 1960 $ 859.20 Note: (1.) Fees for December, 1960, Civil Court actions not recorded in Docket until 1961. STRAND & ROE -87- EXHIBIT H-12 City of Hopkins Hopkins, Minnesota MUNICIPAL cpuRT CASH IN NORTHWESTERN NATIONAL BANK OF HOPKINS As At December 31 1960 BALANCE PER BANK STATEMENT - DECEMBER 30. 1960 $959.20 LESS,: Checks Outstanding: Number Amount 130 $100.00 100.00 BALANCE PER BOOKS - DECEMBER 31 19op $859.20 FUNDS HELD IN TRUST: Date Deposited Name Amount 8- 4-60 Andrews $150,00 8-17-60 Richard Anderson 100.00 11- 8-60 Brewer 35.00 12-30-60 Johnson 5.00 12-30-60 Hertges 25,00 12-30-60 Limbrok 100.00 12-30-60 Prudential 10.00 12-30-60 Phelps 10.00 12-30-60 Brewer 25.00 12-30-60 Whitehead 200.00 Bank Charge Due from Ceneral Fund _ 659.20 Original Working Capital $200.00 STRAND & ROE -88- EXHIBIT H-13 City of Hopkins Hopkins, Minnesota ASSESSED VALUATION__7„ TAX LEVY 1956 1957 1958 1959 ASSESSED VALUATION: Real Estate $ 7,181,871.00 $ 7,416,491.00 $ 7,888,086.00 $ 8,023,438.00 Personal Property 3,147,277.00 _ 3,159,461.00 3,161,619.00 3,343,623.00 Total Assessed Valuation 110,329,148.00 110,575,952.00 $11 049,705.00 $11,367,061..00 MILL RATE: Extended In 1956 1957 1958 1959 Collectible In 1957 1958 1959 1960 TAX LEVY: General Fund $ 321,293.00 $ 426,096.00 $ 470,415.00 $ 480,902.00 Bonds and Interest 111,880.00 96,641.00 119,802.00 119,863.00 Totals $ 433,173.00 $ 522737.00 $ 590,217.00 $ 600,765.00 TAX LEVY SPREAD: General Fund $ 321,236.50 $ 426,105. 11 $ 470,496.44 $ 482,418.07 Bonds and Interest 111,554.80 96,664.20 119,999.80 120,036. 16 Totals $ 432,791.30 $ 522,769.31 $ 590,496.24 $ 602,454.23 V STRAND & ROE