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Village Audit Report-1961
Village af Bx°ooklyn Center AUD'�'I` R�PC7RT For the Yeax Ended Dec�rriber 3I, I9�I TABLE tJF CC)NTENTS Exhib�.t Pa.ge Number Number Urpina.�n I 2 C�MMENTS SEC�'YC�N Gen+�ral Gomments 3 throu.��h 9 Village Officials Decernber 31, I961 I0 F°iNANCIAL STATE�EN°T'S SECTI4N Camhiin�ri Balanee Sheet A].1 Funds and G�°t�ups (Condens.eci Foa�m) December 31, I961 I 11 General Fund Stat�;rnents �3a}.ance Shee� December 31, 1961 2 Y� Analysis of Changes in Unapprapr�.ated Surplus� Yeax 1961 3 i3 Sta��ment of R�venue -�stimated and Actu�l Y�a� ].961 4 I4 I5 S t3�em e�.t of E�pex�ditux'e S APPropr�.ations anci Encumbrances Year 1961 5 16 Statement of Expenditures and Encuanbr�,rice�s, Classified as to Activity, Characte� anti Qbject Ye�.r 19b1 6 I7 Special �evenue Fund� Staternents Combined Balanee Sheet Decernb�r 31, 1961 7 18 Cornbined Analys;xs of Change s in Un�,p�x°+�prnated Surplus Year 1:961 8 19 i i Village of Brooklyn Center A UDiT REPC�R T For the Year Ended December 31, I961 TABLE QF CONTENTS Exh�.bit Fage Number Number Special Re�renu� Fund� Staternents (Cont°d➢ Park Board Funde (a sp�cial rever;ue fund) 5tatement of Revenue Esti.rnated and Ac�u�,l YEar I961 9 20 i Statenaent of Exp�endi�ures Appropraa��.ons anri Encumbrances, Ye�x Y961 �,0 2I S�atement af Expenci�.��a.xes and Encumbra,nc�s, C�.as�ifiec3 to Act��raty Clgarac�e� �.nd Obj�ct, Yea,r I96I 1 i 22 Pqor Fundq (a sgec�al revenue fund) St�t�ne4at c�f R;evenu� and Expenditv;re� Year I961 I2 23 Bond Funds 5ta�emen�� P'ark Bond Fund B�.lance 'Sheet m De�ember 31 a 1961 13 24 I S�atement of Revenue ar�d Experidi�ur�s �Year 196�, 1�4 25 �i Statement of Expendxtures =Compared �V�.th Appr-o�r�.ati.�ns Year 1958 Y�ar 1959a Yea,r 1960 Yeax° I961 15 26 Certifa.cate c�f Indebtedness #7 Bond Fund Balance She�t December 31, 1961 �:6 27 S`Gaternent of Expendi�u.res Compareci With Appropri�t��ns Ye�,x 196I I7 �8 �Ti�lage of Bp�c�kD.yn Gente� AUI)�'I' REPC�R'I' For the Y�ar Ended. Dec�mber 3� 19b1 'TA�LE �F GONTEN'TS Exhibit Page N�mber Nur�b�r L?ebt Ser�.ce F�.nd� �S��,temen�s Combined Ba�.ar�ce Sl�ee� Decemb�r 3� �9E�I� 1$ 29 �ombi��d S��.ternex�� of Revenue, �xpend���:re� Ancl �gnx°�1u� I.'e �961 g9 3Q 1 Sge�ial As�e��n�n� F�,nd� S��.�em�nts �t��nb�.r�ec� �aian�e Sh��t December �9�y 2� 3� �omb�n�d St�,tt�rn�rst of lteven�:e Ex�end������ arad Una�gr�y�r��,��d Sa�r�1u� (�r��eres�� Y�a�° �9�1 2� 32 GambAn�d S�a�em�xa� of Gon��r�a.c���n E���a�c��t�r��, �om�a�red ���1� A���°cig�rua��.ean�, Xeax I96�. 22 33 S�a�eme�t of Loxa� 'I'eraxi Deb� QPr�rs:��p�,1 Ar���xrn�� De��mber 3� I�6�. 23 34 F'u:bl�.c S�r�r�.ce :�nte�g����e Fua�d� S�a�ern�ri�� Muna�ipaa. Laqu�� F Balamce She�t D��ember 3� �96P 24 35 Anaby��� of Chan e� �.n Sur 1u� Y�ax i96y 25 36 Sta,��xnen� of Inc�me and E�en�e� -���r �9�� 2b 37 Sta�ement of Long Term Deb� D��ernb�r 3�, �961 2'7 38 P�zb�i� LT���.�ti�s F'und Balance Sheet D�cember 31 Y961 28 39 Sta:tem�nt' �f Income �,nd-Earneel St�:rplu� Y�ar I96I 29 40 W�:�e�° D�par�2iera.� A era,ti.n E er��e� P g Year I9b� 3Q 4�. I l ��1�a�e of BroolcY�n Cen�er AUD�@I' �t.EP'O�'I' F�r �h� Ye�.r Ended D�cea 3�., �961 °I'A��E C?F CC)�T`�'ElV°T'S Exhgbi.� Page Na�anb e r Nu;nber PuTi9.�� S��°�ra�e Enter�r��e :Fund� S�a�ean�n�t� (��r�i�od� Pub��c �t�.l��a��.F QCor��od� L S��r�a° Dep���n�n� C)�����.n� ����;r �96�: 3I 4z Surrzm�,ry ��a;tean��t of I��'an� an.d Pr�p��°�y And P�o�a��i�n$ f�r D��a�e�aa���n D���xn1��� 3Il �9f�g �2 43 ��xnm�.r�r Ar������� :�f Sourc� af �'�.a�d� �ner����r� I'�aa�� arael F�a°�����y' Decem�er 3� ���Il 3� 44 Agen.��r F'�r3c1� -S�a,��xn�n� ��anbarneci ��.b�nr� ��e� De�ernbex 3P �9�� 3.4 45 S��.tean��� of l���r�r�u�, E�erad�:�?���� �,�d ��.�sd ��,�.an�es Q���nban�d� �,'e�.x 1�E�y 3� 4�a S�a��m�rst mg R.������s and I����aa����a�rn�� Y'��.r Il96� 36 47 In�re�.�xn�n'� 'T�°u��' F°�nd (A f�rad �o aecommod�,�� ���re^�xnerr� of t��n��r���r s�.��A�z�es of ca��n� ��.��,n�� Shee� �:,le��rnber 3� �961 37 48 Sta�exn�r�� crf �aran.aa��� m 5��ar �9E�� 38 49 �har�ge� �n P��°ta�a��;��r�� .F�and B�g�.n��� m���� b96,Il 39 5t? G�n�r�.� F���d �i �:s�ts Sumxn�;ry St�.��m�r�� �f C��ner�1 F�.a��c1 1������ ]De��x�b�r 3Il �96� 40 51 Gen�ral I�ors `Te�an D��� and �Ir���re�� S�xnan�ry� �ta�emexa� Q� L�r�g Teran D�b� a.nc� In�ere�� m Decemb�r 3�. I96Y 4� 52 PJo��s �c� Fgr�a��a�.1 S���e��z��� 53, 54, 55 OIVA PEHTTIlA CERTIFIED PUBLIC ACCOUNTANT 1210 GLENWOOD AVENUE MlNNEAPOLIS 5, MINNESOTA `To th� ViPla�e �ounc�l Vi11�.ge of Brool�,yn �enter Brc�ok�y�n ��n���° l�i�nn��a�a C�en��em�no W� 1]�ve ex�.rnYned tl�e fana,ncnal s��.��me�ts t�f �h� �r�.xious funds of th� iT�Ylag:e of �.iroerl�byn ��n�e� a� of December 3� �96� �,nd fa� th� c�,lend�r year then ended. �u� e��;mina��on vva� m�,d� �n �:�c��d�.n�� w��h gen�x°a�ly accepted r aud��in� ,���,n.dards �.nd acc�rd�n�ly incY�,d�cl of �kae account�ng :re�ord� a.nd s�zcl� oth�x° aud��yn� :px°oced�.re� ��n��d�x°ed n�c��sa.ry gn the c��c���anc��m At�d�� J�ef'�necl 1'u���a�.ait t� th� t�rms of our eri����me�� +�ondui�t�d I a L�.�ni�ed �Sene�al .l��dg� �xrl��c�n d�firg�d eP�,ra �x�mAn�,��ora whach. con�.is�s +af a�e�e�r of in�ex°nal c�rntr�� ar�d �,cco.unx�.ng px°oc�du�e� �rid of tl�e details of alfl �����d� �����dang sub�adg�.ry reco�d� and �upporting d���, �,���.�an�.t��al accuracy Prapri��� and complete�.��� �fl� ����a�b�on�, �n te�t b�,�i�o Tl�.s t��t ���.m�n�.��on ��e��n�� �h�� �h� g�exn� sel�c�ed �.r� representatav� of all �r�,r��.�.��iox��oua '�'l��s� ty�ae �f aud�� pr��uan�s ;�hat the aud�.tor is e�p���ed to �end�� �,n opanaan �subj��t to �ucl� qualifa�a�ons as xna:y ��er� n��e��ary� ��ncern3ng �.1� �f the transact�.ons �.nd recox°ds ���ra tho�ag� h� h�.� n�� exa;m�ned �.1� af �a€�m �.n cl���,�l Seope csf Exaxn�na�aon Cjur ex�snfn�.tion cave��d aYl f�n�,n���.� ���;n,��c�g�a�as �,nd funds af t�� Villa�e �.s incltxcl�d in the rec�rcls rrxa�nt�,in:�d by tTae dep�.rtxnent of fanan��. Exc�pt�o� :t�x° Q�alzf�cat�.an 1 A port3.t�xa of funds obtained for re�reation�,1 p�.x°pos�� con�i�t� of collection� for tran�portation, reg��:trat�on and �al� c�f �upplaes and ��a.nd��e� x°elated to recreation �.��.�tie�, �t �a� nc�t f�a��ibl� to ob�ain andeper�dent confirmat�on of th��e �e��apt� f�orn the varaous �ndiv�clual� and our examix�ata.on re���.ng t� ��.�h m�n��s �as I�ma��d to a�°�vi��v af ax�oun�s as recorded ara th� bo�1�s@ 1 In our opinion., subject to the- above exception, the accompanying balance sheets -and related statexnents af revenue, exgenditures and surplu�, to ether with the nc��es a ended thereto, present fairl the financial position g PP Y of the �rarious funds of the Village of Brooklyn �enter on December 31 1961, and the results e�f thear operation� for the year then end€d, in conforr�aty with generally aceepted princsples of governm�ntal ac�ount�.ng, applied �n a basis con�istent with that af the previous year. t Respectfully submitted �i� Qa.va .Pentt�.la I Certif�.ed Public Accc�untant Fie1d Work _Cc�mplezed A�r�.l 2, 19b2. Repc�rt Si�ned May 7', I962, _2_ Vi.11a. e of Broo�l n�enter g Y Audit Year 1961 •G�NER.AL ClJIM11�NT S C?rgax��zat�on and History Tl�e Village of Brooklyn Center wa� incorpor�;ted �s :a v�.Ilage, pur�uant to ARI�.nne�ota Statutes (MSA Chap�er �I2) on- F'ebxuary T4, I91I It i� governed by a f�sre man Village �ouz���.l, tl�� xna.y�r, a clerk a.21C�. t�l�eE,' �Z°U�'°a'tef.'� The general policies o� th� Vallage are formudatied by the Counc�l vvath the �ss�stan�e of various adrn�n���r�,�ave and ad�a.s�ry comaa�sssao�s and b�:ards �.nd the adrnini��rat�.on of �h.e�e pr�l�.c�e� darected ��ncl saapex�ri�ed by lvir. A, J. Iae�, �Yn� ��Po�rr��ed ��.11�.ge A dmini �tx a.to r. I The juda�aa�., asse�sora� and �reas�xer°s fu,net°sor� +�f gc�vernmen� ar� p�rformeri respect�.vely by t�ro ju.stac�� of �eac�= v�.11a.g� a�s:e��or and a treasurer all of �vl��m are �lective off��e��o 1 Gont�.nuity of �iect�ve governm�nt £or k�e V���.ag� xs• a��u�ed through a sy��exn of staggered terxn:� of off�ce for �,ll �lected �ffic�.�:l�. The Bud�et The work c�f coll�cting and cla���.fy�ng inforrr�atian f�r tl�.e budget of th.e com9.ng lrear as performed by the office� of the L1ar�ct�r of Fanance and tlae 1 Villa e Adm�nistrator who °ointl re are a prel�xn��.ary bud��t pr�po�a.l. J Y l� P from the aecumulat�d informataon for the go�ernang laody a£ th� Villag�. After con�idera��.�n revY�w a.nd ev�luataori nf th� prel�n�.rxar�r budget by tl�:� Counc�l, the fina�. ewoived ro osal is ado ted b resoluti�n and become� a P P P Y schedule of au�horxzataon for ex enditure �echna.c�.11 kraawn �.s tY�e 'Bbud et g P Y aactun �nt". -3� Vallage of Brooklyn Center Audit Year 1961 GENERAL C4MMENTS T he Bud et, Gont° d g The "budget document" is recorded on the records af the Village and becomes an integral part of the Village budgetary system of aeeounts. Budget rnatters are the exclusive autkori of the Gounca.l and amendments are not permitted without the speeifi.c approval of the gov�rning body. The Cou�cil exercises control over governmental spend�ng by 'peraod�cally comparing �;ctual costs with the budget estirnates (apgr�priatzons) and reviewing remaining unexpended apprapriatiori balances. At the end of the budget year (January 1 through IIIecember 3I:� the balances of revenu:e, expenditure and budgetary accounts (su:rplus or deficitj are closed to unapprogriated surplus and a new budget ins:truznent for the ensuing year is put inta effeet. Original appropriations for s:pecific purposes are carried over frorn y'ear to year only in tho�:e funds wk�.ere the �ature of the fund requires it, such as the capital outlay prograrns of band and spe�ial assessment funds, C'rovernmental huciget procedures a.re not used`in c4nnection w�th the operation of public service enterprises (Liquor Store and :F'ublic Util9.ties) which are primaril�r of a commercial nature. However, for cantrol purpases, the cost af labor applicable ta these enterprises has been included in the Va.11age bud etar s stem. g Y i Village of Brooklyn �enter Audit Year 1961 C,�ENERAL CQMMENTS The Bud�;et, Cant'd A resume' of the 1961 budget docux�rient i� presented below: Village of Broaklyn Center �udget-.9ppro�riation� Surnrnary CaLendar Year 1961 Mill R,ate :�ip�ropriataon Village Qperations (General Fund) 34.44 t 322 769. 02 `Y 9 Poor Reli.ef (Special Revenue Fundj ,�3 3, 092. ?3 Paxk General F'und (Special Revenue Fund:) 2, 00 18 743. 85 Certificates of Indebtedness (Debt Service Fund) 3, 38 31, 67"7, IO Sta.te Loan Fund (Debt`Serv�ce Fund e I8 1, 686. 95 Park Bond R.ederription (Debt Service Fund) 3, 90 36, 55Q. 5D Firemenos R�lief Association (Agency Fund:) 2.00 1$, 743. 85 F'. E. R. A. �Agency Fund) 1. 94 18, I81. 53 Cvunty Park 5ystern (Rernitted direct and not accaunted for by Village) 09 843. 4? ���a 6v �Y�S�y G�7s VQ Assessed Valuata�n 1961 R.eal estate 8 207 �$3.00 9 9 Personal property 1, 164, 64Qo 00 $9 371, 923. OQ Va,lue per �ni11 of taxa.tion 9, 372. 00 Tota1 Pro osed 1q6�, Bud et E p g xpenditures $7�4, 171, 00 Proposed Saurce of Finance Fror� taxes (as :above) $452, 289. (l0 Fxom general fund unappropriated surplus 50, OUO. 00 Frorn es.tirr�ated revenues (licenses, permits services, �etc. 271, 8$2, 00 Total Prop€�sed Source of Finance $774, 1?l 4f} I 1 5 �l'illag,e of Brooklyn Cen�er Audit Year 1961 GENERAL C4tvSMENTS The �.3udget Cr�ntad Cc�mparisons af act�tal results of operations to budget estimates are set for�th by fux�ds in the financi�:l statements section of this report. t B:asis and Prineaples of: Aecountan� L The aeeounting for all ac�avgties of t17.e V�llage as segregated �.n�a �rar�ous fund entities (purp�se groups) as dic�a�ed by a�counting princ�.ples i or requ�.red by sta,tutes. All funds, with som� m�:nox practical �a.ri�;nees, are maintained on an accrual basis of �.ccountang� Generally accepted �,ccou�ting principles and �rao�e pranciples relatan.g to governmental �.ccounting ;as de�reloped by the Nat�.on�.l �omm�.tt�e on Csovernrnental Accc�ur�ta.n� ar� adli�red to for a11 frand� Classifaca.taon of Accounts The classa.faca,t�on of aceounts useci by tlge Village i� in accord with a classa.ffi.cataon of aecounts 'prescribed for u�e b� �g�y and village fisca,l officers by the Pub�,ic �xam�.ner�s office. (I�uxs�a,a.nt t� 1�i.x�n�scata Statutes Section 215. 10) The aceaunts af the Public tTt�ls�ae� Fund are classified in a.ccordance w�.th the "Manual Qf Water Works :Ac�oun:t�.ng prepared by tl�e Ivtun.�.cipal F�.nance t3ff°aeers Associat�on and the Ameracan �ate�r �+Yorks Associataon and is perrna.ssive under the order e�tablis�ain account class- g ifications fc�r villages. i _6_ Village of Brooklyn Center Audit Year 1961 GENERAL COMI�rIENTS General A ecounting In add'ation to rn�.riimuzn grescrabed requ�.r�rn�nts fa�r accountabilnty and stewar�ishfp, the Vslla.ge maAntains a complete b�,d�,��ary system of accou:nts� for those funds where gove�nm�ntal budgetary p�°ineg���� are �pp�.ncable and are of use to control exp�ndi.tur�s and/or re��nu:� Incorporated wa.thin the system of account�n f�� �n�raY a�t�vAti�� of the Vi.Ilage ia� a performance co�t �.ecounting �yst�m "This �:ystern a.ccuxnu.Ia,tes cost data as a natural by-grodu�t of o�her acc�un.t�n� �nd�avor� and �s a j saurce of invaluable information with re ard �o �he ccast of a,rt��ul�,r ro°ects g P P J and activities carried aut by the V�llage, Bookke�ping The accoun�an and bat�lcicee in for alI ac��sr����s of tlze VilY� e are g P g centra.lized und�r the D�pax°tment of Director �aff ��nance a.nd th� m�chanac��l procesaes of devel4ping a.nei maintaining record,� �.xe �c��rn�l��hed through us�,. of up to date machine methods. Internal Cernt�ol and Safe,guard� S�parati.on of the func��.ons relating to the cu�todganship of fia.nci� the actual operations and activiti�s, and the acco�ntan and record leee an far P g bath are nece�ssary for adequate internal control, The Villag� satisfacto�aly rnaintains thi$ separataon of functions. The usual i.nternal cot�trol rocedures of de a�i in dail r ce° s°nta t p p t g y e�ga� i c, requiring more than ane signature on expend�.tures by ch�;ck together w�th prescribed rautine for substar�tiation of recezpts and da�buxsemen'�� by -7- Village of �rooklyn �enter Audit Year 1961 GENERAL COM1VlEN7'S Internal Gc�ntrol and Safegu�.rd�, Corit'd evidences of receipt�, eash reg�ster tapes, purchase order�, recei�ring reports and invoaces axe an inte rated art of e��abl��hed g P gro�eduresan handling transactions. �here eu�.todiansh�ps of fund� n�cess:axy in conyunctivn with day ta day actYw�.ties, expo�u�� t� losses fs l�rni.t�d �h�ough use of in�prest funds. Pexpetual records of ine�chaasdn�� and store� invexf�aries are xr�aintaa.ne+d independen� of olaer�,taons �,nd p�r�:c�d;�cally com- pared wi.th physical inventoraes. �perazing �tatements and budget reports are prepared pexiod�e�.11y an:d submitted to the Councal for evaluation and stta:dy. Insurance and bonding in fezrce are exam�n.ed �nd �.dju�ted per�.c�di�ally to assure a proper degree of protection. Pledged cm�S.�,�eral fx°om �Ta,lla.ge d�positories is r�qiz:ir�d to secure rnonie� vv�hieh are on depasa� w�.th banki.ng instatution� and awrran:gernent� have b��en mad� to have the tx°u�t depart�xxent af a Minneagc�l�.s bank �.ct as cu�tod�an for the �e�uri�ies i.n vvhich temporary cash suxpluse� :are inve�ted. I� The �.bove resume' c�f checks and safe�u�.rcl.� i� no� a�tended as a co:mplete recital af all procedures ir� effect bu� xs set for�h to support our eonclu�ion that the Village rr�aint�.�.ns an adequate �y�t�rn of cvntrol�. I -g ZTillage of Brookl�rn C�nter Audit Year 1961 GENERAL C4.�vt;t�ENTS Additional e o ts Submi ed R P r tt The terms of our engagement included an aud�t of th.e recoxds of trae ��nter Fire Deparl�xnent Relief �ss�c�a�ion,te, an org,�.r��.zatasan separate and distinct from the Vi.11age of B�Qa�byn C�ntex. The rep+ar� �oversng the activaties of tl�;is ent�.ty has been d�r�cted to the association under separate co�rer. A separate su�aplementary' report ca�rering tl�e �xarn�n�.taon of the records and aecounts af tlae �Tillage has been prepared and d.ixec�ed to the Counci.l. This re ort as such i� not f�.nancial re ort but �onta�ns p s P various observatson� of the auditor relating to m�t�e�s of a f�nan:cia� na�ture I for the purpose of as�i�tin� tla� governing bod:y of th� V��lage, Noth�ng contained in this report is af material xelevane� to the audi� report submitt�d under this cover. I ,I I i il -9- Vallag.e of Brooklyn Center LISTING +OF VILLAGE U�'FiCIALS �ecember 31, 196I. Villa�e Gauncil (Elected) Terrn of Uffice Term E�pires �Iayor William N. Super Two years 12�31-b1 Village Clerk Henry Dorff T"wo years I2-31-b2 Trustee Clifford Wellman Thxee years 12-31=61 Trustee Cax1 Carlson Three years T2�3I-62 Trustee Haward Heck Three years 12-31-63 Uther Elected Officials Justice of Peace Rayrnond Bex�son Twa years i2-31-61. Justice of Peaee John �ingard Two year� 12-31-b2 Vi.11age Trea.surer Victor Ehrenberg Two years I2-31�61 Village Assessor John Nordberg Two year� 12-31 �b2 Vi1la.ge :Admanistratc�r Ae J. Lee Adrnin�s:trative:Assistant A1 Lindrnan Department �-Ieads Finance R. J. Bullock �ngineering I]t��a1d N. Pos s P'�la.ce Robert Gahlander, Sx. Fare Gar1 An.derson �'rotective Inspection I?onald �tark Givil Defens� I?on Le'Tourneau Fublic Util�f�es Franlz Smatra, Jr, Streets an€I Highvways Henry I?avar Liquor "Stores 'Truman Nelson Park axid Recreation Eugene Hagel Park Boa.rd Paul $ullen, Chairanan Dallas �Lawren�ce Fran:cis Irvin Planning Coxnm�ssion RecxeatiQn C�mxnission Alfred Ka�tar, Chairman :I.�eslie Hagen, Chairrnan Vernon Ausen Fr�.ncis Irvin Grayclon Boeck lvlrs. Leo Houser Paul Bullen Cli£ford Wellma:n Ed Peterson John Wangard Donald Stark Nic�olas Vtlarhol Holt: I�V axn 10 Note I Cornbined Explanation Total Assets and Resources Cash on hand and in depositories 597, 599 36 Temporary investments I� 690, 459 9i Due from other funds 50, 360, 99 Accounts receivable 28 744. 72 Accrued revenue 61, 399. 27 Cash held by County Treasurer's office I3, I89. 00 Taxes receivable (net) 8, 033. 43 Special assessment fund receivable 4, 322, 715. 82 Cash held by paying agents for debt and interest 455, 247. 4� Inventories and supplies 89, 150. 80 Investment inventories I, 546 638. 91 Prepaid expenses 2 058. 62 Fixed assets (net of depreciation where applicable� 9 88Ip 060 28 Unassessed construction 1, I55, 083. 07 Amount available general debt and interest 13 309. 77 Amount to be provided general debt and interest 747� 556. 00 Totals $20 662, 607. 43 Liabilitie s Vouchers and accounts payable 84, 061, O6 Contracts payable 205 641. 39 Assessments payable ll2p 425. 65 Accrued expenses 74, 278. 47 Due to other funds 50, 360 99 Construction loans payable 930, 000. 00 Bonds and interest unredeemed from paying agents 455 247. 48 Customer and contractor deposits 92 845. 76 Bonds and certificates payable 5� 484, 200. 00 Due funds participating in investment trust fund lp 690 459 9I Interest payable in future periods �general debt} I65 644. 92 Total Liabilities 9 345 165. 63 Surplus, Reserves and Fund Balances i Surplus and surplus reserves set aside 628, 336 36 Contributed surplus and assets 6, 590, 130. 29 Investment in fixed assets (general� 3, 323, 911. 97 Unexpended appropriations, authorizations and balances ??5, 063. 18 Total Surplus� Reserves and Fund Balances $I1, 3I7 44I. 80 Totals $20p 662, 607. 43 1 S Villa e of Brookl Center g Yn �i� COMBYNED BALANGE SHEET-ALL FUNDS AND GROUPS QCONDENSED FORM� December 3I, 1961 Specia.l Debt Special Municipal Public Investment General General Debt General Revenue Bond Service Assessment Liquor Utilities Agency Trust Fixed and Fund Funds Funds Funds Funds Fund Fund Fund s Fund Assets Interest $130, 059. O1 $14, 876. 26 7� 624, 00 $18, 785. 26 232, 82I. 74 5I, 551. 58 20, 075. 04 7, 05I. 2I Q; 114 755. 26 `Y 9 8, 369. 92 23, 416. 67 I� I68. 33 1, 440, 152, 59 78,� 900.38 138 452. 02 25, 476. 20 1, 955. 85 85. 32 17, I84. 27 I10. 25 5, 471. 08 78. 02 3, 064. 69 38. 09 25, 641. 94 I70. 00 15, 326. 97 3, 636. 17 42, 266. 13 5, 364. 44 149. 44 1 752. 60 5, 675. 78 246. 74 5� 702, 03 442. 92 1, 047. 95 276. 84 563. 69 4, 322, 7I5. 82 443, 821. 23 1 I, 426. 25 11, OOI. 63 73, 8b2. 16 4, 287. O1 1, 546, 638. 91 1, 401. 50 657. 12 13p 523. 27 6F 4O3,y I77. 16 $3, 464, 359. 85 1, I55, 083. 07 13, 30Q. 77 ?47, 556. 00 $189, 037. 92 $17, 594. 47 $31, 040. 67 $22 839. 46 $7, 617, 731. 34 $230 813. 48 $6, 613 088. 34 $11, 575. 83 $1 703� 660 30 $3 464, 359. 85 $760, 865, 77 9, 938. 48 2, 133. 52 27 060, 03 21p 232. 85 23, 507. 68 188.50 4, 498. 9U 147, 047. 29 54 095. 20 I 112, 425. 65 7, 589. 70 997. 50 60, 551. 16 2, 755. 42 2, 384, 69 2, 254. 44 4, 814. 20 9, 529. 69 29, 364. 66 901. 56 3, 394. 23 IO2, 21 930„ 000. 00 443, 821. 23 1I, 426. 25 79, 833. 87 13, OI1. 89 4, 925, 500. 00 130, 000. 00 428, 700. 00 1A 69a, 459. 91 165, 644. 92 19, 782. 62 6p 947. ?2 4 498. 90 $lOp 527. I9 $6 563� 344 37 $I66 3I6. 08 109 120. 4? 102, 2I $l 703, 660 30 $760, 865. 77 $169 255. 30 $10, 646. 75 329, 651. 45 64, 497 40 54,� 285. 46 6,� 449� 682. 41 140 447. 88 3� 323, 911. 97 i $26� 541. 77 $12, 312. 27 724p 735. 52 $11, 473. 62 $I69, 255. 30 $10� 646. 75 $26� 54I, ?7 $12 312. 27 $1� 054, 386. 97 64p 49�. 40 $6, 503 967. 87 $11, 473. 62 $3,� 464, 359. 85 I $189 037. 92 $17, 594. 47 $31, 040. 67 $22 839. 46 $7 617� 731. 34 $230p 813. 48 $6 C�IJy 000 34 $I Ip 575. 83 $I 703� b60, 30 $3 4b4, 359. 85 $760, 865. 77 QSee accompanying notes to financial statements) This statement is an integral part of report dated April 2� 1962 I1 Exhibi.t 2 Villa�e of Brooklyn Center General Fund BALANCE S�3EET December 31, T961 ASSETS Asgets Gash an hand and in bank -$130, 059. OI Ternparary investrnents 8, 369. 92 Returned ehecks on hand ].6. 70 Cash held by County Treasurer's office 5, 364, 44 Accounts receivable 3 047. 99 Due from other funds 25, 47b. 20 Taxes receivable: Real estate and personal property taxese Levied in 1960, collectible in 196I $2, 92$. 74 Prior years tax levies 2, 721. 75 5, 650.49 Special levies assignable to General Fund S1. 54 5, 702, 03 Inventory of materials and supplies: Materials 6, 004. 41 Small tools 4 997. 22 11, OOI 63 Totals $189 037. 92 L�ABILITIES RESERVES AND SURPLUS Liabiliti�s Vouchers payable 9 938. 48 Aecru�d payroll to Decernber 31, 1961 7, 397. 84 A�cr�:ed insia.rance expense 191, 86 Due to ather funds 2 254. 44 Tata1 Lia.bilities 19, ?82, 62 -Surplus Surplus reserves: Reserve for I961 bud.get encumbrances 542.87 Reserves for inventories, imprest cash and change funds 23 $9fi. 53 Total Surplus Re:serves 24, 439. 4fl Unappropriated surglus (Exhibit 3j Note 2 I44, 81,5. 90 Total Surpl.us 169, 255, 30 Totals $189, 037. 92 (See accbmpany°ing notes to financial statements) I This statement is an integral part of report dated Agril 2, 1962, I2 0 Exhibi� 3 Village of Brookl.yn:Genter General Fund ANALYSIS I�F° CHANG�ES I1V UNAPPROPRIATED SURPLUS Year 1961 A ctual Bud�et Qver (Under) Actual Es�tima�e Estimate Unappropriated Surplus Januaxy 1, 1961 $120, 835. 02 $I20, 835. 02 Add: Revenue (Exhibit 4) 584, 994, 0.7 517, 130, i 1 $67, 8b3, 96 Total Balance and Additians $705, 829. 09 $637, 965. 13 $67, $63. 96 Deduct: Appropriation exp�ndi�ures (Exh�bit 5) $558 999 73 $577, 256. 99 ($18, 257. 26) Encumbrances 542, 87 542, 87 Adda.��ons to reserves :for a.ssets set aside for_ particu.lar uses I, 47Q. 59 1, 47Q, 59 Total Deductions $561, OI.3. I9 $577, 256. 99 ($16, 243, 80) Unappropria.ted Surplus December 31, 196I $I44, 815. 90 60, 708„ 14 84, 107, 76 (See accompanyi�:g notes to financial statements) Thi� statement is an int�gral part of r�paxt dated April 2, 1962. 13 Exhibit 4 �Tillage of Brooklyn �enter General Fund STATEMENT OF REVENUE Year i961 Actual Budget Over (Under) Actual Estimate Estimate T axes Taxes on real estate and personal prop�;rt� $318, 4I3m 65 $322, 769. 02 4, 355. 37) Penalties and interest on delinqu�nt taxes 3 2b5, 55 3 265. 55 Total Ta�es $321 679. 20 $322, 769. 02 1, 089. 82) Licenses Permits and Fines Fines 20 425. 52 Buiflding pex°mits T6, 299. 45 Heat�ng permits 9, 97�. 60 Sewage and water perxnits 9�0, 00 Electrical permits 7 998 81 Pluxnlaing permits 6 023� 65 Dog licenses and poiznd fees 2 055. 00 Plumb�ng lacense�s 1 428� 40 Electr�ca,l licenses 1, �89. 85 Heat�ng licens�s 830� 00 Zoning chax°�es and special permits 822. 00 Cert�f�ca�es of occupa.ncy 772.45 B�c�cle �.i�ense� 405 75 Well pea°mits 400o OQ Cigarette licenses 396.00 Serwice �tataon licen�es 377� 00 House m�vir�g lic�nses 375. 00 Gesspool cl�anirag permi�s 309.00 Well drill�rs l�censes 265. 00 Malt off sale licen�es Y95. 00 Cessgo�l cl�ax�ing and installing lic�n�es I82 00 Wate� softenex° permits 174. 00 Bowlin� ,alley licenses 171. 00 Garbage and rubb��h h�.ul�ng licenses 110. 00 Ta�icab La���nses 100.00 Bench licenses °70. DO Bingo licenses 2.00 Total Licenses Perrnits, Fines 80, 328. 48 60, 000. 00 $20, 328 48 Re�renue from �ther Agenci�s 3hare of Sta.te ci�arette liquor t�.xes 64 543. 40 598 000. 00 5, 543. 40 State aid for street maintenance I5, 4$0. 00 15, 480. 00 Mortgage registry taxes 5, 312. 81 5, 312. 81 Share of mobile horrie reg�.st�y t�.xes 3I. 65 31. 65 Total Revenue from Other Agencies$ 85, 367. 86 59, 000. 00 $26, 367. 86 14 Exh�bi� 4 Cont°d V�.19.age of Brooklyn Center General-Fund STATEMENT OF REVENUE Year 196I A ctual 1 $udget C7ver(LTnder) A��axa1 Estima�e Es�3.m�,�e Charge� for Current Sersr�.ce Recr�ation9 transp�r�ati�n, r�gis- t trataon, a,nd sa.le of supp�.i+�� 4, 68�. 74 4 664. 00 28. 74 yVork:orders ch�,rged to c�nxraetors 1, 048, 28 l 048, 28 A��essan�nt sea�°che� and m�� sales 79�. �0 79�. YO Pla�tin� �,nd rniscellaneous fees 22�: 00 221a OQ S�.ppYies 73. 51 73, 51 Polac� Departmen� serv�.ces 43, 50 43. 50 Tota� Ch�,rges for Cu.x°ren� Servaces 6 867. 13 4 660. 00 2 207, 13 Chaxges to Q�hex° Governm�ntal tTnits �n�ineerin� f�e� 27 8�9. 05 36 000. 00 �.�.0, 95) �Vorls carder charge� 16, 193. 66 16, 193. b6 Eqtxi�ment u�e and m�l��,ge charge� 10, ��.4. 56 �0 Y14, 56 G1er�caB. f�es 8 390, 78 4, 50D, 00 3 89�v 78 Adm�.raa�tra�ion ch�.rgem�ublic utilities S 2'�Oa 00 5 280 OQ Office rent publa� �.t�.lita�� 9 940, 00 1, 900, 00 Expens� re�bur�ement� I��.quor Fund I 159a 92 1 Y59, 92 Direc� labor transfe� for acc��.n�a.ng m publ�c util�tge� 4 900 40 4 900, 00) Total Ch�.rges �o ��her C�overnmental U�.ts 70 9�7. 97 52 580. 00 347". 97 Other Land 'paynzent fox° tank public utili�i�� 4 665. 00 5 655. 0� Q 99ps OQ) Interest a�n temporax^y in���trn�nts 1 948. 0� 1 a q48. 04 R�nt froyn h.all �,nd other pra�gerty 444a 54 444, 5U In�urance rec�very from dama.ged cival defense truck 201. 00 201. QO Sale of �.953 �h�vrolet 17. 00 9.7 00 Cash ovex° 4. 00 4, 00 Miscellaneous reve�u� sage of scr�p, refund� becycle alac��on 77. 80 7'�, 80 Total t"�ther 7 357. 34 5, 655, 00 ?02, 34 Transferr Yn �vltznic�pal l�.quor fBa.nd I2 466. 09 12, 4b6. 09 Tota,l l�evenue $584 994. 47 $517 I30, 11 $fi7 8fi3 96 (See aecom�aan�.ng notes to £inancia.l statern�nts) Thi� statement is an integral part of report dated Apral 2 1962 15 1 Village of Brooklyn Center Exhibit 5 General Fund STATEMENT OF EXPENDITURESp,APPROPR7ATIONS AND ENCUMBRANCES Year 1961 1961 Bud�et Appropriations Expenditures and Encuxnbrances Over Ex ended P Original Budget Final I961 1961 Decexnber 31, 1961 Under Expended Budget 1961 Revisions Appropriations Expenditures Encumbrances Appropriations General Government Mayor, Council and Treasurer I2� 225. 00 12 225. 00 12 468. 72 243. 72� Elections and voter registration 5p 472. 40 5� 472 40 5� 666 O1 193. 61 Finance Municipal Clerk 65� 297. 00 65 297. 00 62 937. 45 105. 37 2,p 254. 18 Assessor 6, 9I5. 00 6,� 9I5. 00 6, 374. 80 540, 20 Accounting and internal auditing 22 525. 00 22, 525. 00 15, 637. 50 6� 887. 50 Independent accounting and auditing 2 500, 00 2, I96, 50 4� 696, 50 4 696. 50 Legal 3,� 500. 00 3, 500. 00 b, 473. 26 2 973. 26� General government buildings 25 373. 00 12, 466. 09 37, 839 09 36 552. 20 I, 286, 89 Total General Government $143 807. 40 $14, 662. 59 $158, 469 99, $I50, 806. 44 105. 3? 7p 558. I8 Public Safety and Welfare Police protection 84, 395. 00 84� 395. 00 85, 574. 65 94, 94 Q$ 1,� 274. 59� Fire protection 13 907. 00 13, 907. 00 13, 053. 07 232. 37 62I, 56 Protective inspection 37 371. 00 37, 371, 00 35p 887. 30 1� 483 70 Civil defense 1, 915. 00 1�, 9I5. 00 2� 508. 37 593. 37� Nursing services 6, 100. 00 6� 100. 00 6, 089. 00 11. 00 Animal control 2� 500. 00 2, 500. 00 1, 749. ?1 75p, 29 Special appropriation to Paor Fund 8� 000. 00 8� 000. 00 8, 000, 00 Total Public Safety and Welfare $146, 188. 00 8, 000. 00 $154, 188, 00 $152 862� 10 327. 31 998e 59 Highways Engineering 55, 230. 00 55, 230. 00 57 808. 42 30. 65 2� 609. 07� Street 98 712. 00 98� 712. 00 80, 818. 48 24. 13 17� 869. 39 Equipment maintenance shop 34, 403, 00 34�, 403, 00 39p 023. 50 28. 41 4, 648, 9I Street lighting 2I, 000. 00 21� 000, 00 22, 341, 7I 1, 341, 7I� Total Highways $209, 345, 00 $209 345. 00 $199, 992 I1 83 19 9 269. 70 Recreation Supervisic�n of recreation 4 875. 00 4, 875. 00 5, 729, 47 854. 47� Adult programs 1 450. 00 1, 450. 00 1, 549. 56 27. 00 126. 56p Summer playgrounds 7, 740. 00 7 740, 00 6, 350. 59 1, 389. 41 Summer sports 7 640, 00 7 640. 00 7 959. 12 319. 12� Fall and winter sports 3, 675. 00 3, 675. 00 3, 876. 34 201. 34p Special appropriation to Park Board Fund $29, 874. 00 29, 874. 00 29 874. 00 Total Recreation 25 380. 00 $29� 874. 00 55, 254. 00 55 339. 08 27, 00 112. 08p Grand Total $524 720.40 p $52� 536. 59 $577p 256. 99 $558, 999 73 542. 87 $17� 714. 39 tSee accompanying notes to financial statements� This statement is an integral part of report dated April 2, I962 -1,6- illa e of Br okl Center V g o yn Exhibit 6 General Fund STATEMENT OF EXPENDITURES AND ENCUMBRANCES, CLASSTFTED AS TO ACTTVTTY, CHARACTER AND OBJECT Year 196I Total Total Current Expense Classification Total Encumbrances Current Personal Contractual Capital Outlay Capital Outlay Classification Expenditures Expense Services Services Commodities Other Expenditures Land Buildings Equipment General Government Mayorp Council and Treasurer 12, 468. 72 12, 468. 72 I1, 882. 17 586. 55 Elections and voter registration 5, 666, O1 5, 666. O1 878, 61 4 787. 40 Finance Municipal Clerk 63, 042. 82 62, 485, 07 36, 657. 28 $10� 016, 66 5� 123, 94 10, 687. 19 557. 75 557. 75 Assessor 6, 374. 80 6, 374, 80 6 374, 80 Accounting and internal auditing 15, 637. 50 I5, 278, 59 15 067, 39 193. 20 18. 00 358. 91 358, 91 Yndependent accounting and auditing 4, 696 50 4, 696. 50 4, 696. 50 Legal 6, 473 26 6 473. 26 6, 473. 26 General government buildings 36, 552, 20 20, 661 .79 7 872. 84 6� OI4. 21 I 933. 35 4, 84I. 39 I5,� 890. 4I $2, 690. 32 $13, 030. 09 I70, 00 Total General Government $I50, 911, 81 $I34, 104. 74 89, 902. 85 $16� 030. 87 7, 250. 49 $20, 920. 53 $16, 807. 07 $2� 690, 32 $13, 030, 09 1, 086. 66 Public Safety and Welfare Police protection 85, 669. 59 82, 732. 24 73, 018. 25 5 8I5. 33 3, 898. 66 2, 937. 35 2, 937. 35 Fire protection 13, 285. 44 9, 792. 27 7� 131. 10 534. 74 1, 990, 27 136. 16 3, 493. 17 3 493. 17 Protective inspection 35, 887. 30 35, 887. 30 33� 647. I7 2, I60. 13 80. 00 Civil defense 2� 508, 37 2, 419, 37 1 20I, 46 659. 85 558. O6 89, 00 89. 00 Nursing services 6, 089. 00 6, 089 00 6, 089. 00 Animal control 1, 749. 71 1, 749. 71 1 749. 71 Special appropriation to Poor Fund 8, 000. 00 8 000. 00 8, 000. 00 Total Public Safety and Welfare $153� I89. 41 $146 669 89 $122, 836. 69 3p.354. 72 8, 363. 66 $I2, I14. 82 6, 519 52 6, 5I9. 52 Highways Engineering 57, 839. 07 57, 736. 07 55, 442. 38 377, 37 1, 902. 32 14. 00 103. 00 I03. 00 Street 80, 842. 61 77, I94. 42 48� 247. 47 27, 406. 82 I, 540. 13 3, 648. 19 3, 648, 19 Equipment maintenance shop 39, 051. 91 39 051. 91 22, 933. 57 665. 66 13, 6I8. 37 I, 834. 31 Street lighting 22� 341. 71 22, 34I. 71 22 34I. 71 Total Highways $200, 075. 30 $196, 324. 11 $I26, 623. 42 $23 384. 74 $42� 927. 5I 3 388. 44 3, 751. I9 3, 751. 19 Recreation Supervision of recreation 5, 729. 47 5, 729. 47 5 097. 16 392. 07 I97. 87 42. 37 Adult programs 1, 576. 56 1, 576. 56 9I8. 50 658. 06 Summer playgrounds 6, 350 59 6 350. 59 5, 482. 08 868. 5I Summer sports 7, 959. I2 7� 959. 12 5 034. 87 2 924. 25 Fall and winter sports 3, 876. 34 3, 876. 34 3 587. 75 288. 59 Special appropriation to Park Board Fund 29, 874. 00 29, 874. 00 29,, 874. 00 Total Recreation 55, 366. 08 55 366. 08 20, I20. 36 392. 0? 4, 937. 28 $29� 916. 37 Grand Total $559, 542. 60 $532, 464. 82 $359p 483. 32 $43p 162. 40 $63, 478, 94 $66, 340. I6 $27, 077. 78 $2, 690. 32 $13, 030. 09 $1 I, 357. 37 �See accompanying notes to financial statements� This statement is an integral part of report dated April 2, I962 17 Exhibit Village of Brooklyn Genter Special Revenue Funds COMBINED BALANCE SHEET December 3I, 1961 Park Gornbi.ned Bo�,rd Poor Tatal Fu.nd Fun:d I A SSET`S Assets Cash on hand and zn banks $14, $76� 26 $I.2, 807. 70 2, O6$, 56 Cash held by Cour�ty Treasurer° s offic� 149. 44 126. 40 23, 04 Due frorn other funds 1, 955. 85 1, 91I. 81 44, 04 Rent receavable �.7U� 00 170, QO Taxes receivable; Real esta,te and gersonal property tax�s: Levaed in 1960 collectible in .1961 19�. 7,4 170, 0& 28, O6 Prior years levies 244.78 162. 05 82.73 Totals $17, 594. 47 $I5, 34�. Q4 2, 246. 43 L�ABILITIES, RESERVE� 1�ND SURPLUS Liabalitie� Vauchers pa,yable 2, 133, 52 678. 88 1, 454, 64 Due to other funds 4, 814. 2Q 4, 814. 20 °Total Liabsli�ies b, 947. 7?� 5, 493. 08 1, 454. 64 Surplus Reserve for I9b1 budget encumbrances 41t�m 94 4I0. 94 Unappropr�ated surplus (See Exh.ibit 8) I0, 2350 81 9, 444. 02 791. 7q Totals $17, 594. 47 $15 348. 04 2, 246, 43 jSee accoznpanying notes to financial statements) I, Thi.s staternen� is an integral part of report dat�d Ap�il 2 1962 18 Exhibit 8 Village of Braoklyn Center Special l�evenue Funds CQMBINED ANALYSIS C�F CHANGES IN UNAPPROI�R�A.TED 5'UR.PLUS Year 1961 Park Combined Board Poor To��.l Fund Fla.nd Unappropra.ated Surplu�, January 1� 1961 $l0 �20, 03 4, 306, 54 5, 913. 49 Addo Revenne (Exhibits 9 a.nd I2) 64 135. 33 52 853. 30 11, 282. p3 To�a1 Balance and P�dditions $74, 355. 36 $5?, 159. 84 $17, 195:. 52 Deducto E�aend�.t�.res �Exl�.ibi�s 10 and 12) 64, 119. 55 47 715. 82 I6, 4Q3. 73 9 c�mber 31, 1961 $10, 235. 81 9, 444, 02 791. 79 Unapproprbated Surplus De (See accoanpanying notes to finan�iaY staternents) Th�.� sta,texrient i� an antegra.l part of x°eps�rt dated April 2 I962. 19 E�.iibit 9 Village of Brooklyn Center Park $oard Fund (A Special Revenue Fund) STATEMEN.T OF REVENUE Year 1961 i Actual Budget ()ver(Uncler) Ac��a.l �staxna�e Esti.rnate General prap�rty tax special ad valorer� levy $18, 473. ?0 $18, 574. 00 96. 30) Rents 2 76°7. 50 2, 820. (�(l 52. 50) Coneessions I 597a 59 511. 14 1, 08b. 45 I Miscellaneous 140.51 I4Q.5I Special appropriatiax�s received from general fund for caperaticanal needs 29, 874. 00 29, 874. C10 Tat�.l Revenues 52, 853. �0 �51, 775. 14 Y 078. Ib (�ee accarnpanying r�otes to financ�.al stateznents) Thas staternent is an integral part of repor� ciated .Apral 2, 1962 I -2�- Exhibit 10 Villa e of Brookl n Center g Y Park Board Fund (A Special Revenue Fund� S'�'ATEMENT OF EXPENDITURES, APPROPRYATTONS AND ENCUMBRANCES Year 19b1 196I Bud�et Appropriations Expenditures and Encumbrances QOver Expended; Original Budget Final 1961 1961 1961 Ur�der Expended Function Bud�et-19�1 Revisions Appropriatio�s Expenditures Encumbrances Appropriatio�s General park adn�inistration $29, 7I.4. 00 $29, 714. 00 $32, 039. 13 49. 39 2 374. 5�� General park maix�tenance 8 325. 00 400. 00 8, 725. 00 8� 178. 43 344. 65 2Q1, 92 Park �arage 500, 00 500. 00 b17. 73 l I7. 73� Sgecial facilitieso Nortlzport Park 3� 775. 00 3 775. 00 1 393. 46 2 3�1. 54 Triangle Park 2 475. 00 I I1, 7.4 2, 586, A4 2 695, O1 �Q�, �7� Garden City Park 2 300, 00 2 300. 00 373, 58 1., 926. 42 Rice Park l 250. 00 1� 2�0. 00 3i7. I2 932, gg Sout]'�east Park 1 ].50, 00 1 150. 00 605. 88 16. 90 527, 22 Willow La�e Park 875. 00 875. 00 325. 64 '�49. 36 I Poplar Lane Park 735. 00 735. 00 621.82 113. 18 Wan�stad Park 100, 00 100. 00 62. 50 37. 50 Northeast Pa.rk 50. 00 50, 00 I7. 11 32. 89 Donnay Park 15. 00 15�. 00 57.47 42. 47� Total $51� 264. 00 511. 14 $51� 775. I.4 $47, 304, 88 410. 94 4� 059. 32 See accom an 'n notes to financial statements Q P 3'i g II This statement is an integral part of report dated April 2, 1962. 21 Village of Brooklyn Center Exhibit 11 Park Board Fund (A Special Revenue Fund� S'�ATEMENT OF EXPENDITURES AND ENCUMBRANCES CLASSTFYED AS TO ACTTVYTY� CHARACTER AND OBJECT Year 1961 Total Curre�at Expense Classification Total Capital Outlay Classification Grand urrent Personal Contractual Ca ital Oaztla La:�d C Y Total Expense Services Services Commoditi�s Ot��er Expenditures Improverraeaits �uildings Equipment General park administration $32,, 088. 52 $26� 857, 54 $23 789. 12 304. 64 2$, 76 2 735. OZ 5, 230, 9� $.5, I l b. 23 114. 75 General park maintenance 8, 523. 08 5, 208. 74 3, 9�3. 84 1 224, 90 3, 314, 34 1, 373. 61 l 940. 73 Park garage 617. 73 590. 23 484. 62 I05, 61 27. 50 27. 5� Special facilities: Triangle Park 2� 695, O1 712, 26 61. 76 650. 50 l 982. 75 1, 8a4. 75 17�, �0 Northport Park 1� 393, 46 214, 39 120, 46 93. 93 I, 179. 07 2�2. 50 �96e 57 Southeast Park 622. 78 53. 06 34. 41 18. b5 5b9. '�2 55�. 00 14. 72 Poplar Lane Park 62I. 82 18. 07 18. 07 603. 75 603. 75 Garden City Park 373. 58 194, 83 119. 50 75. 33 178. 75 178. 75 Willow Lane Park 325. 64 89. 64 89, 64 236, 00 �36. 00 Rice Park 317. 12 96 57 88. I8 8. 39 220. 55 23. 75 196. �0 Wangstad Park 62. 50 62. 50 62. 50 Donnay Park 57. 47 5. 72 3. 93 1, 79 51, 75 51, 75 Northeast Park I7. II 17. lI 17. 11 Total $47� 715. 82 $34, 058, 16 $23 789. 12 1, 252, b8 4 950, 83 4, 065. 53 $13 657. 66 $10, 28�. 59 42. 22 3, 3Z6. 85 (See accompanying notes to financial statements} This statement i� an integral part of report dated April 2� 1962. 22 Exhib�.t �.2 Village of Brooklyn Genter Poor F'und (A Special Rev�nue Funcl) STAT�MENT UF R�VENUE AND EXP�ND�TURES Year 1961 Revenue General praperty tax special ad valorern levy 3, 026, 84 Special appropriation fxom general fund 8 U1�0. 00 Relief gr�.nt� 255. I9' �'otal R.evenue I I, 28�. t�3 E�penditures Sub�xstence eare �nci support payments $14, 068. 77 Professional and consultants fees 2 334. 96 °To:ta1 Expends�ures $16, 403. 73 �xces� of Expenditures Qver Revenue 5, 12I. 70 (5ee accon�panying note� tQ fananc�al statem�n��) Thi� ��a�t�rnent i.s an integral part of �°�pt�r� da�ed .A�ri1 2 1962, 23 Exhibs� I3 Village of $roaklyn Gexzter Park Bond Fund BALANGE SHEET I?ecember 31, I961 ASSETS �ash on hand and in banks 213. 25 Texnporax�r investment 9, 377. 42 T (}1.a.1 7y:J7Vo OA �.�..A. LIAB�iLITiES AND SLl`�tPL�US Liabil�.tie s Gontracts pa�able 4:, 498. 90 Surplus R.eserve fox authorized expenditures (5ee Exh�.bat i5) 5 Q91. ?7 To�a1 9, 59.�o b7 (Se� aecox�pany�,ng notes to financaal �tatements) 'Th�.s �taternent is an integral part of report da.teci April 2, I962, -24- Exhibit 14 Yillag,e of Brooklyn Genter Park Bond Fund STAT�,M�NT �F REVENUE AND EXP�NI}ITU1�S Year 1961 Revenue (Retained in _fund for purposes of park acquisitions) Interest earned on tem orar cash sur lua invssted durin P Y P g the year with the 7t�ves�rnent Trust Fu�d T13.85 Total Revenue af Year 196I 7I3. 85 Expenditures (For paxk development and acquisitio�:) Triangle Park �park building) �27, 433. 64 Northport- Park 29, qg Garden �ity Park 29.98 Total Expenditures of Year 1961 $27, 493 6a (See accompanying notes ta financial statements) I This statement is an :integral part of report dated April 2 1962 i 1 t 25 Ex�i.bit I5 Villa.ge of Brooklyn Center Park Bond Fund STATEMENT 4F E�P�NDITURES CQIvIPARED �ITH APPRC?PRI�TIC3N5 Year 1958, Yeax 1959 Year 1960, Year 1961 Arnount appropriated for the purpose of acquisitian and de�reloping park propertiesd Reserve far authorized expenditures (apprapriations); 1. Fram the �ale of general obligation bonds $40t3, 000, 00 2, Contributio�s from (`�sseo school distric� to cvver share of grading iungrovement at W�.11ow L�ne Park 2, 500. 00 3. Interest earned fram temporary in�restments I, 377.42 Tatal Arn�unt Appropriated $403, 877. 42 Less; E�penditures Year 1958 $19T, 463. 47 Yea.x 1959 IIl, 336. 81 Year I960 62, 491. 77 Year 1961 (See Exh�bit I4) 27, 493. bQ Total Expenditures 398, 785. 65 Reserve £or Author��ed Expenctitures (Appropria�aans) December 31, I961 5, U9A. 7? 1 (�ee accompany'ang notes to financial �tatements) This stat�rnent is an antegral part of report dated Apral 2 1g62 t -26- Exhib.it 16 Village of Brooklyn Genter C�RTIFICATE OF `INDEBTEDNESu B4N.D FUND BALANGE SHEET I3ecember 31, I9b1 ASSETS Ca�h on hand and in banks 7, 4I0. 75 Temporary investrnents 14, 039. 25 Total $2I, 450. 00 L.IABILITIES AND SURPLUS I�iabili.ties Nc�ne Surplu s Reserve for author�.z'ed e�pend�tures (See Exhib�t 17) 21, 450. 00 Total 21 450. QQ (See accompanying notes to financial statementsj I This statement is an integral part of report dated .April 2, 1962. r r I a� ���b�t i z VYlla�e of Brooklyn Center �ertificate of Inclebtedr�ess #�7 F�ond Fund ST'ATE�ENT OF ��FENDITURES CQMPAREI� �ITH AFPR�PR.IATIONS Year 1q61 Azn�unt appropriated ,during .I961 for acquisition of equipment. Financed by issuance of Certifacates of Indebteclness in the axnc��.nt of $3$, 0!Qi�, 44 (dateci 4-1-6I) and interest earned an tempvrary investrnent of certifacat e proceeds in the arnount of- $52. 76.- 1961 Studebak.er sedan 1, 569. Z5 I961 Chevrolet 1 t4n durnp truck 3, 074, 46 1961 Chevrnlet I/2 'ton pickup truck T, 692. 55 1961 Case front end loader 9, 941. 00 Peter Pirsch fire purnper Zi, 454. 00 Dumont raela:o equipment 325, 00 Tata1 Amvunt A ro riated PP P $38, U52. 76 Les�: E�enditures I9b1 Studebaker sedan 1 569. 75 1961 Chevrolet 1 ton dur.�p truck 3, 074, 46 T9bI Chevrolet 1/2 ton pick up truck I, 692, 55 I961 Ca�e fron� end load�x 9, g4i, pp Du:rrlont rad�Q equapment 325. C?0 Tatal Expenditures 16, 602, 76 Reserve for Auth4rized Exgend�tur�s (Fe�er P�.rseh fa.re puarnper) Decernber 31, I9b1 �2I, 450. 00 (See accompanying nates to finan-cial s��.ter���nt�j I� This statemea�t is a.n integral part af report dat�ci April 2, 1q62, i r _2$_� Exhibit i 8 I Village of Ba°ooklyn Center Debt Service Funds COMBINED BALANC� SH�ET 1 December 31, T961 Redemptio� Funcis 1 Certafiea.tes� State Loan Combined Park af 4 Cash 13asis Tatal Bond� �ndebtedness Fund) As�ets Cash an hand and in banks $I8, °T85. 26 $I3, 6U2a 7E} 5,.182. 56 Temporary i.nvesGmm.ents I, 1 b8, 33 223. 59 944. "74 Ga�h held by Gounty Treasurer°s office I, 752. 60 2�2. I9 2I4. 11 1, 296. 34 I}ue from other funds 85. 32 85.32 Taxes receivable. ReaT estate and personal property L�vied in I960 eollectible 1961 619. 06 33Y.64 287.42 Prior years 42�. $9 16�.?3 2fi7. Ib Totals $22, 839. 46 $14, 647. 17 6, 895. 99 T, 296. 30 Liabilities and Surplus Liabilitie s Du�e to other funds 9, 529, 69 9� 500, Q0 29, 69 Accrued anterest payable 997. 50 997. 5Q Total Liabilities $1Q, 5270 19 9, 50�, Q� 1, �27. 19 Surplus Unappropriated su�plus (Exhib�.t 19) 12� 3I2. 2? 5, I47a 1? 5, 868, 80 1, 296. 30 Tofial� $22 839. 46 �14, 647.17 6, 895. 99 1, 29b. 30 (See a.ccorripanying n�tes :to fin�.ncgal �ta�ements) 'This statement xs an integral part of report dated .��ril 1962. 29 Exhibat 19 Village of Brooklyn Center Debt Service Fund� COIvIBINED STATEMENT QF R.EVENUE E�PENI}ITUR�S AND SI�EtPLUS Year 1961 Gertificates State Loan Combined Park of (Cash Basis Total Bonds Indebtedz�ess Fundj Unappr�priated Surp�us (Deficgt} January I, I96I b, 098. 88 I85. 13) 5, Q55, 34 1, 228, 67 Add: Revenu� CZeneral property tax levi.e� 68, 952. 19 36, 050. 32 31, 234. 24 1, 667. 63 Intexest earned an texnpo�ary inve��ent� 654. 88 2�30 59 431. 23 Total Balanc� and Adclitaons $75, 705. �9 $36 OP�8� $36, 72U, 81 2 896. 3� Deduct: Exgenditures Debt retiram�n� 45, 300. 00 15, 000. �Q 29, 000. 00 1 3flU. OQ Int�rest e�pense 18, 024. 73 15, 872, 72 1, 852. O1 300, 00 Servv�ce charges b8. 89 68� 89 To�al Expendxtures $63, 3�3. fi2 $30 94Im �tl �30 �52. (?1 1 fi00, OD Unappropra.at ed. Surplu� $I2 312. 27 5 147. 17 5 �68. 80 A 29fi. 30 Decernber 3T 196i (See accampanyi�zg no�e� to financial stat�rn�n�s) This statement is an �ntegr�l part of report dated Apral 2, 1962. i 3� m I Combined Sanitary Totals Storm Sewer Assets All �unds Sewer #1 Fund I d Cash on han and in banks 232 821. ?4 'T, 968 65 1, 358. 46 Temporary in,vestments l 440, 152, 59 38, 551. 14 I0, b27. 05 Due froxn other funds 17, 184. 27 ash eld C 1n by Cour�ty Tr�asurer s o#fic� 5, 675. 78 318. 39 Taxes receivable 276.84 Assessrnents receivabl�, Future year instal],mex�ts (prir�cipal� 3, 276, 605. 79 1I1, I55. 57 I9, 24U. 34 I960 collectible 1961( Pr��. and �nt. 29 393. 68 55I. 33 59. 66 Delinquent (principal and interestj I6, 402. 30 93, 15 80. 54 From Park GeneraX Fund 78, 658. 38 6,� 2I0. 24 �'rom Village Gener�.l Fund 33 767. 2? Contract University of Minnesota 361, 594. Ob Interest receivabl� on future le�cry(Collect. 1962� Oct. I, 1961 through Dee� 3�I, �961 7, 997. 34 GeMeral Village share�future taxation {Fxincipal only) 518, 297. 00 Unassessed construction 1 T55, 083. 0? Cash held by paying agents fqr �iebt Int. 443, 82I. 23 19, 080, 00 3, 4I3. 00 Totals 7 b17 731. 34 I83 928. 47 34 77 05 9 Liabilitie s Vouchers and, cont�acts paya�le 172 924. 9� Accrued expenses (interest) 60, 55I. I6 Due to other funds 29,� 364 66 Rebates pa�able l 182.42 Construction loans payable 930, 000. 00 Bonds paya.ble 4, 9�5, 500. 00 $160, 000. 00 $23, 000. 00 Bonds and interes�k unredeem�d from gaying agent Bonds maturing January 1� 1962 350, 500, 00 16, 000. 00 3, 000. 00 Inter�est coupans maturing Janua.ry l, 1962 9I, 394. 50 3, 080. 00 453. 00 Bonds and interest matured redeemed 1, 926.73 Total Liabilities $6; 563, 344. 37 $179, 080. 00 $26, 413, 00 Surplus and Appropri,a�an Balances Unappropriated aurplus(defi,cit) ir�terest 329, 65I. 45 4, 848, 47 8, 3b6. 05 Unexpended appropxiations, authoxiz�ti,ons 724x 73�. 52 Totals 617, ?31. 34 $183,� 928. �47 $34, 779. 05 .T i Village of Brooklyn Center Special Assessment Funds Exhibit 20 COMBINED BALANCE SHEET December 31 I961 1953 AB 1954 A 1954 C 1955 A I956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB 1961 AB Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund $(1, 605. 18� 812. 11 53. 62 8, 608. 32 22 030. 04 b 906 40 12� 944. 53 19, 272. 31 9, 002. 86 4, i98. 25 81, 979. 67 59� 291. 70 2, 238. 35 133 724. 23 402, 736. 48 127, 834. 20 460, 845. 47 40, 363. 27 I43, 754. 27 645. 71 13, 745. 39 65 087. 02 11, 222. 40 5 117. 50 844. 37 59. 36 Q 2. 16p 259. I7 757. 09 109. 42 349. 24 342. 42 552. 84 621. 33 2, 308. 68 276. 84 7, 503. 03 9, 090. 65 1� 519. 62 109, 877. 07 331, 400. 95 83, 879. I7 180, 091. 24 340, 768. 31 140, 558. 21 377, 652. 16 1, 087, 881, 59 475, 987. 88 28. 26 16. 72 30. 33 84. 94 3, 751. 45 566. 63 1, 426. 34 4p 561. 67 1, 123. 09 1, 254, 81 15, 938. 45 127. 69 30, 33 2, 003. 45 3, I55. 8I I, 384. 50 1 792. 49 6, 320. 22 847. 36 566. 76 7, 201. 4I 12 20�. 82 3p 020. 77 14, 023. 77 3, 775. 39 29� 690 83 2 533. 15 'I I, 657. 25 1, 712. 97 460. 18 900. 72 485. 81 15, 977. 78 12, 572. 56 59, 458. 75 49, 785. 33 30, 822. 78 208 740. 84 12� 786. 36 236. 26 482.52 138. 70 7, 139. 86 I 59, 405. 62 I96, 061 73 234, 514. 83 28 314. 82 1, 155, 083. 07 3, 230, 25 4, 195. 00 525. 00 26, 086. 25 80, 5I0. 00 55, 225. 00 68, 745. 00 38, 482. 50 25p 730. 00 48, 183. 98 70, 415. 25 1 9, 215. 72 $16, 480. 53 2� 156. 74 $347p 580. 43 $y06, 329 97 $277, 562. 57 730 928. 05 $495, 417. 43 $382, 111. 23 $645, 150. 85 $1, 766 449 51 $1, 819, 640. 79 I n;. I72 924. 90 47� 555. 94 12 995. 22 2,� 940. 00 5, 204. 23 12� 066 7? 9,� 153. 66 268, 5? 9I3. 85 930� 000. 00 $11, 000. 00 9, 000. 00 I, 500. 00 $256, 000. 00 740, 000. 00 $200, 000. 00 $560, 000. 00 �435 000. 00 330, 000, 00 595, 000. 00 1,� 605 000. 00 3p 000. 00 4, 000. 00 500. 00 21� 000, 00 65 000, 00 50, 000. 00 55, 000. 00 30, 000. 00 20 000. 00 35 000 00 48 00 0. 00 230. 25 195. 00 25, 00 4 501. 25 15 491. 25 5, 225. 00 13, 103. 75 8, 482. 50 5 730, 00 13, 137. 50 2Ip ?80. 00 585. 00 18, 75 641. 2� 46. 48 635. 25 $14, 230. 25 $13p I95. 00 2, 025. 00 $282, 086. 25 $820 7?$. 57 $255 225. 00 $628, 745. 00 $473 482, 50 $358, 670. 00 $649, 302 06 $l 735 037. 96 $1,, 125, 073, 78 5, 014. 53� 3 285. 53 131, 74 65 494. 18 85p 551� 40 22, 337. 57 $IO2 I83. 05 2I, 934. 93 23, 441. 23 4, 151. 2I) 1, 2??. 85 34. 8I) t 30� 133 70 694, 601. 82 9 215. 72 $16 480. 53 2 156. 74 $347, 580. 43 $906 3290 97 $277, 562. 57 $730 928. 05 $495, 4I7. 43 $3'82, I I1. 23 645 150, 85 a $I 766 449. 5I $1� 8I9 640. 79 QSee accompanying notes to financial statements� t This statem,ent is an integral part of report dated April 2p 1962 1 31 m l Cornbined Storm Totals Sewer 1 All Funds Fund Una�propriated Surplus (Deficit} Jan. 1, 1961 $313 384. 67 3, 503. 25 Surplus Adjustments Additions (Deductions� 1. Correction of interest accruals-Note 3 7� 365. 40 2. Transfer to construction appropriations -Note 4 2,� 486. 37} Unappropriated Surplus (Deficitj After Surplus Adjustments $318, 263. ?0 3, 503. 25 Adde 1961 revenue Interest income on current levy $176p 407. 84 6, 307. 88 Last quarter of 1961 interest included in 1962 levy on new assessments 7, 997. 34 Income from temporaxy investments 48� 148. 96 I, 400. 89 Interest on University of Minn. contract 18� 013, 49 Total 1961 Revenue $250, 567. 63 7� ?08. 77 Deducto 1961 expenditures Interest expense $237� 222. 65 6, I60. 00 Paying agent charges l 015, 94 35. 10 Roll processing charges to county 782. 15 65. 40 Adjustments to levies I59. I4 103, 05 Total 196I Expenditures $239p 179. 88 6, 363. 55 Unappropriated Surplus QDeficit Interest December 31, I961 $329, 651 45 4, 848, 47 Z£ Z96i �Z Tiad� pa��ep �aoda.z 30 �a�d TE��a�ut u�e si �uauza�.E;s stu,L �s�uauza��e�s jEi�u�eui� o� sa�ou �uu�u�duzo��� aag� 4 ig..�� 5 cI (rz t st .�z �t�� 6 £z� £6 `tz� 50 8 t azot�.....�5 .i££.QZ:Z� o� �ts5 �5s� ._...st '�6� a59� �L •t�i .£s •5sz 4�s ��io s 50 99£ f s� �9'b8L �L 6I'Z5i `98$ L6'Li6�`0£$ i0 `i£5 �ii$ ZO'OII �LI$ IT'S6£ `9Z �L'Z95 `OI$ £8'LL£ �i£$ S6'8�T �6 �o� •L l �s� �z �sb �s OL'£SI OL'Z5 08'Li Ot'S9 OI'£5 00'8i 09'L£Z SZ`Z6 8S'SLI LO'98I 99'£S Z6'6L LZ'fi£i 5L'i�b IL'85I 5L'8fi �g '68L �L 8i�'Z6L d S8$ E5'989 `0£$ 00 `09� `ii$ 00'S96 a 9i$ 05'LOZ `9Z 00'OSi� `OT$ OS'Z86 6 0£$ 05'Z00 �6 £8 °�SL 6 L OZ'L9i 08'IS£ 98'6£I `L L6'S6 Z8 '8L8 `I8$ 8i 'fiiZ `�Z$ 69 'ZZS 6 o I 6£ '�i�L iL 'Sfi9 OL '8£ i ZS 'Z8fi� fi0 '£L� d OL$ 56'S80 `£Z$ zz •is5 `s ss'zs5 `z 8L '6£6 L6 'SLZ `z 'S9 08 '90� OL 'i� 08 £9 '0I 00 i 00 '05 oo 'O6£ SL '08� 86 'LL8 �05 �z •z� 00 '8 00 'OI SL'Si SL'6 OS '09� 00 '9Z8 9S'£�I �£I$ £i�'986 "�5Z$ 99'90L �LZ 8L `£LZ `OI$ 8�'LZI �S£$ IO'T60 `�i$ £5'IOI OL'SL9 II 'i�Li� LL'0£� `i 5fi'6£L `T IZ'i�9i `Z b6'6ifi 68 `�95 9fi� `£Z8 `I £�'6£I a5I i£'S88 6 fi iS'OL9 6 £I LZ'I0� `i� i9'S�i 69'SL£ 9Z '9 £Z Ii� 'Zi�£ 6 8 Z5 '£Zi� `ZZ$ £Z 'L95 d Z i Li� '88£ `S 9L 'Z6Z `bi$ 08 '69Z 6 9 £S 'IO i 60 '0£5 i i 'i�L� 80 'SSO `i 89 `8Z$ �IZ$ ZS'8�0 �£I� OS'IL8 `OOI� �5 '9Z9 a ZZ� 5L `I08 �I8$ ZI 'ZSS �09� �S 'S6 £9'9I0 6 �68'L00 `5) 9Z'�I8 r L CS6'i88 LZ'OZI 12� r �09 r i I 8£'6Z i�fi'II9 19'9LZ 9£'065 6 ZZ$ Z5'SSO `£I$ OS `IL8 `OOI$ fi5 '9Z9 6 ZZ$ 6L �9L£ `£8$ ZI'Z55 `09� i�S'S6 £9'910 Q68'L00 `S 9Z'£i8 `L pun,3 pun3 pun,3 pun,3 pun,3 P�3 Pun3 P�3 pun,3 pun,g pun,3 pun,3 pung g�d i96i gFT 096i S�o' 656i S 856i 856i S� LS6i S 956I �6' 9S6i �T 5S6I i�S6i F� fiS6i gFT £S6i �a�aS �SaE�iuEg I Z �?q?uX� I96I ��a.� �,I,S�2I�,L1�II� Sfl'Id2il1S Q�,L�'I2id02iddfTNl1 QN�' 6 S�?iII.LIQN�dX� ��11i�I�A�2i 30 ,L1�I�Y�I�Z�T,LS Q�I�iISY�iO� spun,3 �uauzssass�* T�i�adg .xa�ua� udjxoo.zg �o a�EjTt� Exhibit 22 Village of Brooklyn Center Special Assessment Funds COMBINED STATEMENT CONSTRUCTYON EXPENDTTURES COMPARED WITH APPROPRTATIONS Year 1961 Combined Note 4 Note 4 Total 1956 AC 1958 B 1960 AB 1961 AB t All Funds Fund Fund Fund Fund Appropriations �Original at January 1 1961� $3, 593, 593. 83 $l 085, 000. QO $413, 922. 04 $2, 094p 671, 79 -0- Additio:�s and �Deductions Additional appropriations during 1961 I„ 809 137.58 1 604.42 881. 95 23� 021. 73 lp 783 629. 48 Transfer of appropriations from 1960 AB Fund to 1961 AB Fund Note 5 132, 502. 85� 132, 502, 85 Appropriation reductions for projects cancelled 4 17p 077. 53p 17, 077. 53) r Total Appropriations Open During Year $5, 385, 653. 88 $1 086, 604, 42 $414 803. 99 $I� 968, l I3, 14 $l 916, 132. 33 Deducta Construction expenditures During 1961 $lp 155, 089. 70 -0- -0- 12, 142. 67 $1, 142, 947. 03 During prior years 3 352� 626. 99 1, 086, 604. 42 414, 803. 99 1, 851, 218. 58 -0- Transfer of expenditures from I960 AB Fund to 1961 AB Fund directly related to appropriation transfer Q$132, 502. $5p as shown above Note 5 4 78, 583. 48) 78 583. 48 Total Construction Expenditures $4, 507, 716. 69 $I, 086, 604.42 $414, 803 99 $1, 784� 777. 77 $1� 221� 530. 51 Unexpended Balance of Appropriations 877, 937. I9 -0- -0- 183, 335. 3? 694, 601. 82 I Lesso Appropriata.ons discontinued I Clearance of excess of appropriations over project eosts not assessed to benefitted property owners 153, 201, 67 I53, 20I. 67 Unexpended Appropriations and Authorizations December 31, 1961 ?24 735. 52 -0- -0- 3� 133. ?0 694p 601, 82 I (See accompanying notes to financial statements} This statement is an integral part of report dated April 2p 1962 33 Exhibit 23 I, Village of Brooklyn Center Special Assessment Funds 5TATEMENT OF LONG TERM DEBT QPRINCIPAL AMOUNT} December 31, 1961 Bond Redemption Balance Final Interest Rates on Bonds Outstanding Year of Total Deposits to Unpaid Installment Regular Coupons Addit°1 Coupons Fund Issue Tssue FayingAgents 12�31-61 Due Series Principal Rate Period Rate Storm Sewer #1 Serial issue 1952 304� 000. 00 144, 000. 00 160, 000. 00 I-1-72 3. 50°jo Sanitary Sewer #1 Serial issue 1952 48, 000. 00 25p 000. 00 23, 000. 00 1-I-73 3 2p% 1953 AB Serial issue A I953 30, 000. 00 28, 000. 00 2 000. 00 1-I -64 3. 25°jo Serial is sue B 1953 55, 000. 00 46, 000. 00 9 000. 00 1-1-69 3. 30%0 1954 A Serial is sue 1954 37, 000. 00 28 000. 00 9 000. 00 1-I -65 3. 00% I954 C Serial issue 1954 22, 500, 00 21, 000, 00 1, 500. 00 1-I -65 2, 50% I955 A Serial is sue 1955 497 000. 00 241, 000. 00 256� 000. 00 I-1-76 3. 25% 1956 AC Serial issue A 1956 535�000.00 150�OQ0.00 385,000.00 1-1-77 3.75% Serial issue C. 1956 550, 000, 00 195� 000. 00 355� 000, 00 1-I -77 3. 9�% 1956 B Serial is sue I956 200� 000, 00 200 000. 00 None 1-I -62 3. 30°fo Refunding Serial is sue 1960 200, 000. 00 None 200p 000. 00 1- 1-66 3. 40% 19b1-63 1, 00% 1957 AB Serial issue A 1957 430, 000. 00 120 000. 00 3I0, 000. 00 1-1-78 1960-64 60, 000. 00 3. 34°jo 1965-70 130 000. 00 4. 00% 1971-78 120 000. 00 4, 10°�0 Serial issue B 1957 350, 000. 00 100, 000. 00 250, 000. 00 1-1-78 1961 -69 $115 000. 00 4, 50% 1970-78 135 000. 00 4. 75% 1958 A Serial issue I958 530 000. 00 95, 000. 00 435, 000.00 1-1-79 1960 -66 $110, 000. 00 3, 10°f 1967-69 75p o00. 00 3. 60% 1970-72 75p 000. 00 3. 9�% 1973-79 I75 000. 00 4. 00°fo 1958 B Serial issue 1958 390, 000, 00 60� 000. 00 330� 000. 00 1-1-79 1960 -68 $I20, 000, 00 3. 00% 1969-71 60 000. 00 3, 2o�j 1972-74 60 000. 00 3. 50% 1975-79 90 000, 00 3. 60% 1959 AB Serial issue AB 1960 630� 000, 00 35 000. 00 595� 000. 00 I-1-81 1960-65 I05, 000, 00 3. ?5% 1966-69 105 000. 00 4. 00% 1970-74 200, 000. 00 4. 25% 7 p 185p 000. 00 4. 50% 9 S S 9! 5 O 1 1960 AB Serial issue A 1960 768 000. 00 48 000. 00 720 000, 00 1�1-8I 1�960 6�7� r ����$240, 000,�00 1960-63 1. 50°Jo 1968-78 390, 000, 00 1960�63 1. 50% 9-81 90 000. 00 196om63 1, 50% 1 9 Serial issue B 1961 885, 000, 00 None 885, 000. 00 1-1-81 1961-67 $250, 000. 00 3. 80% 1962-63 1. 80% 1968-70 140, 000. 00 4. 00 1962 1. 80% 1971-74 180 000. 00 4. 10% Ig62-63 1. 80% 1975-81 315, 000.00 4. 20% 1962�63 1. 80% Totals $6, 461, 500, 00 $1 536 000. 00 $4 925, 5a0. 00 �See accompanying notes to financial statements� This statement is an integral part of report dated April 2� 1962 34 Exhibit 2� Village of Brooklyn Center Municipal Liquor Fund BALANCE SHEET December 31� 1961 I ASSETS LTABYLITIES AND SURPLUS Current Assets Current Liabilities Cash on hand and in banks 5I, 551. 58 Accounts payable 21 232s 85 Cash on deposit with paying agent revenue certificate Bondsp coupons and call premium unredeemed from. paying agent 2, 421. 25 account I1, 426. 25 Due to other funds 901. 56 Returned checks �$48. 09 less provision for uncollectible Accrued PERA QPublic Employees Retirement Associationj contribution 1 8�1. 97 items $10. 00� 38. 09 Accrued salaries and wages 873. 45 Tnvested in investment trust fund 78, 900. 38 Accrued interest payable on revenue certificates 4� 005. 00 Due from other funds l I0. 25 Certificates payable portion due within one year (see below) 5 000. 00 Merchandise inventory Qvalued at cost� 73, 862. 16 Prepaid expenses 1, 401. 50 Total Current Liabrlities 36, 316. 08 Total Current Assets $217, 290, 21 Long Term Liabilities Fixed Assets Provision Revenue certificates payable �Exhibit 27� $135, 000. 00 for Book Lessa Portion due within one year Qas shown abaveD 5, 000. 00 Cost Depreciation Value Total Long Term Liabilities 130 000. 00 Fi�ures and equipment: Lyndale Avenue store $I1, 420. 33 8 702. 29 2 718. 04 Total Liabilities $166 316. 08 I Osseo Road store 14, 053. O1 3 439. 98 10, 613. 03 I $25, 473. 34 $12� 142. 27 Surplus Restricted per terms of resolution authorizing the Total Book Value of Fixed Assets 13, 331, 07 issuance of revenue certificates Note 6 10, 447. 50 Unrestricted surplus 54, 049. 90 Other Assets Work in progress and equipment for new store at Total Surplus 64� 497. 40 Brookdale Location 192.20 Total Assets $230, 813.48 Total iabilities and Sur lus 230 8I3 48 L P 9 QSee accompanying notes to financial statements) This statement is an integral part of report dated April 2� 1962 35 i, Exhibit 25 Village of Brool�lyn Centex° I�unicipal Liquor Fund ANALYSIS 4F CHANGES IN SUF�:PLIJS Year 1961 �urplus, Janua.ry 1, I961 $I2, 445, 59 Aad: Net income (E�hibit 26� 64 517. 90 Total Bal�,nce and Additions $76, 9�3, 49 Deduct: Tran:sfer fi th r fu 0 o e nds General fixed a�sets capital otatl�ys wl�.a�h are not laquc�r fund a�setse a. Stree� depar�ment �arag�, mo�rgng foc�tings az�d fasten�r�g 6, 3(35. 59 b. �hain ��.n1c fence 6900 Dupont A�e. Nom 3, �95a OU e. Blocl� �crall 6900 Dug4n� A�r�. IvT. I 451. 40 d, Cc�st a,nd movang of �as�l�.n� starage tank 994.5� e. Meta�. door at Osseo rc�ad fgx°e barn 1?8, 00 i f. Parlcing cv.arb� at O�s�o ro�d �o� 42. 00 °Total Tr�,n�fers to O�Y��x -F`unri� (G'rener�.l Fund� �.2 466. 09 Surpltxs, December 3�, 1961 $64, 49 40 See accorn an °n not to fin�.n�a�.�. ��a��xnents P Yi g e Thi.s statement a� ar� gn�egral part of x°��ox°� da�ed �4pr�1 2p 1962, i 1 1 1 t I ��1 36 Villa�e of Brooklyn Cex�ter Exhibit 26 Municipal Liquor Fund STATEMENT OF INGOME A1�D EXPENSE Year 1961 Store #i Store #2 Combined Total 6445 Lyndale 6250 Os seo Road Sales 2I5, 6I4. 74 $333 758. 83 $5499 373. 57 y Deduet Cost of Merchandise Soid 424 620. 73 167, 456. 13 257, 164. 60 Gross .Margin on Sales $124, 752. 84 48 158. bi $?6 594. 23 Less; Operat�.ng expenses Salaries and wages 37, 605. 08 17, 749. 00 Z9, 856. 08 Deprec�ation 2 670. Y4 1, 113. 64 1, 556. 50 Legal fees and costs 2 385. 70 2 253. 20 132. 50 Utilities 2, 124. 62 660. 00 1, 46�, b2 Public employees retirement fund 1 881. 97 i a 1I3. 48 768. 49 Insurance 1, 830. 96 981. O1 849. 95 Audit I 330 00 620. 00 710, 00 Supplies 8b2. 98 309. 553. 10 Hea� 7690 71 499. 92 2b9. 79 Repaix°s and rnaintenanee 584. �5 2690 29 315, 56 Telephone 479.90 2I7.45 262.45 Protection ser�ce 366� 00 150 00 216m 00 Pranting publishing financial reports 332, 26 157. 39 174. 87 1�,rIileage 220. 64 110 31 1100 33 Inventory variance and adjustrnents;Note 7 189. 56 I49. 06 40, 50 Laundry 142, 75 97. 32 45. 43 I.,icenses and taxes yl90 00 59. 50 59. 50 Brealzage 7bo 81 35� 59 41, 22 Miscellaneous 67. 08 31, 30 35. 78 Cash short 55. 07 13. 85 4im 22 Provision for uncollectib:le checks 10, 00 10. 00 Total Opera.ting Expenses 54 I O1. 08 26 6Q1, 19 27 499. 89 Qperatin� Income 70 651. 76 21 557. 42 49 094. 34 Addo C?ther incorne Interest incom� on temporary investments I, 964. 49 I, 3Q9. 66 654. $3 In�urance recovery(1960 inventory shortage 1, 5Q0. 00 1 500. 00 Check cashing fees 210. 20 171. 65 38. 55 Total Other Incame 3 674. 69 2 98T. 3Y 693. 38 Deducto Other expense Interest on revenue certif�.cates 8 356, 90 346. 90 8 010. 00 Premium re�renue certificates called 210, 00 210. 00 Paying agent charges 53. 77 27, 50 26� 27 Claim settlement�back wages i:� re discharge of former manager) 1 187. 88 1 187. 3� Total Other Expense 99 808 55 1 772. 28 8� 036. 2? Net Income 64 517, 90 22 766. 45 41, 751. 45 ��ee accompanying notes to financial Statements) ThYS statement is an integral part of report dated April 2, I962. -37- Village of Brooklyn Center Exhibit Z7 Municipal Liquor Fund STATEMENT OF LONG TERM DEBT December 31p 1961 1 Special Interest Revenue Certificates Principal Revenue Certificates-I��terest Coupons Certificate Rate Interest Rate Outstanding Outstanding Maturity Outstanding Outstanding Nurr��ers Per Annum Per Annum 1-1-61 Retired 12-31-61 Dates 1-1-6I Retired 12-3I -61 1�5 1. 75,% to 1-1-61 4. 00% 5p 004. 00 5y 000. 00 1-1-61 4 I48. 75 4 I48, 75 2-1-61 297.50 297.50 7-.I-61 4, 005. 00 49 005. 00 37-43 4. 25 7� 000. 00 7� 000. 00 8-I 297 .50 297. 5� 6=10 1, 75% tu 1-1-62 4. 00 5 OQO. 00 5, 000, 00 �-I-62 4� 005. 00 4, 005. 00 2-1-62 148. 75 148. 75 7-I -62 2 ?23. 75 2, 723. 75 44-50 4. 25 000. 00 7, 000. 00 8-I-62 148, 75 I48. 75 11 mI5 I. 75% to 1=I A62 4. 00 5,p 000, 00 5� 000. 00 I-1-63 2 723. 75 2,� ?23. 75 7-1-63 2, 623. 75 2� 623, 75 16=28 1, 75% to 1=1 �62 4. 00 13� 000. 00 13,�. 000. 00 1-1-64 2, 623. 75 2 623. 75 7-1-64 2, 363. 75 2 363. 75 29-41 1. 75% to I-I e62 4. 00 I3 000. 00 13, 000. 00 1-1-65 2, 363. 75 2 363. 75 7-I-65 2, iQ3.75 2 103.75 42�54 I, 75°jo to 1 dl �62 4. 25 13� 000. 00 I3, 000. 00 I-1- 2, 103. 75 2 103. 75 7-I-66 I, 827. 50 1, 827. 50 55-�67 1. 75% to 1-1 �62 4, 25 13 000. 00 13 000. 00 I-I-67 1 827. 50 1, 827. 50 7-1-67 1, 55I. 25 I, 551. 25 68-80 1. 75% to 1�1-62 4. 25 13 000. 00 13 000. 00 1-1-68 1, 551. 25 1 551. 25 7-1-68 1, 275. 00 1, 275. 00 �1-9 1. 75% to 1--1-62 4. 25 I5 OUO. 40 15,� 000. 00 1-1-69 1 275. 00 I 275. 00 7-1-69 956. 25 956e 25 96-110 I. 75% to I al m62 4, 25 15 000. 00 I5 000. 00 1-I- 956 25 956. 25 7-I-70 637. 50 637� 50 111-125 1. 75% to 1-I =62 4. 25 15 000. 00 I5 000. 00 I-I -7I 637. 50 637. 50 �I 7-I-71 318. 75 318. 75 126�I40 1. 75% to 1-I �62 4, 25 15� 000. 00 15 000, 00 1-1-72 318. ?5 3I8. ?5 $154, 000. 00 19, 000. 00 $135, 000. 00 $45p 8I3. 75 9, 046. 25 $36p 767. 50 �Bonds called at 8-1-61 at par plus premium of $210.00. General Frovisions of Issue a. Obligations are payable solely from net o�e rations of the Municipal Liquor Stores and are in no way a general tax liability of the Village. b, All certificates share on a parity basis in total net revenue of both stores. c. All certificates which mature after January 1� 1968 are subject to redemption (call� in inverse numerical order on January l 1965 or any interest payment date thereafter upon payrnent as followsa 1. If redeemed prior to Janua.ry 1 1968 at par �$I, 000. 00� plus accrued interest plus premium of $30. 00 on each certificate redeemed. 2. If redeemed on or after January l I968, at par plus accrued interest. d. Pursuant to terms of the resolution authorizing and directing issuance of certificates, certain covenants require a restriction of surplus available for transfer and the periodic setting aside of funds to rneet principal and interest maturities. See Note 6 of "Notes to Financial Statements". �See accompanying notes to financial statements.} This st�.tement is an integral part of report dated April 2, 1962. -38- Exhibit 28 Village of Brooklyn Center Public Utilities Fund BALANCE SHEET December 31 196I ASSETS LIABILITIES Plant and Property Current Liabilities Water and sewer utilit in service Exhibit 32 6 628 50 72 ouch rs Y 9 9 V e payable 23 507� 68 Accrued. PERA �Public Employees Retirerr�ent Association� Lesso Provision for depreciation (Exhibit 32� 225, 773. 56 contributions l 754� 20 Accrued salaries and wages 630.49 Total Book Value of Plant and Property $6, 403, 177. 16 Due to ot�er funds 3, 394. 23 Current Assets Total Current Liabilities 29, 286. 60 Cash on hand and in banks 20, 075. 04 Other Liabilities Accounts receivable 25 641. 94 Accrued revenue re�ceivable estimated Customers' meter deposits 79, 833� 8? unbilled sales 15, 326. 97 Invested in investrr�ent trust (temporary Total Liabilities 109p 120, 47 inyestments) 138, 452, 02 Due frorr. �ther funds 5, 471. 08 Contributions in Aid of Construction Inventory of stores 4, 287. O1 Prepaid expenses b57� 12 Sewer Departrr�ent 4, 249, 722. 15 Water Department 2 199 960. 26 Total Current Assets 209, 911. 1$ Total Contributed Surplus 6 449, 682. 41 Earned Surplus �Deficit� �Exhibit 29� Sewer Department Q 4 412. 53p Water Department 58� 697. 99 Total Earned Surplus m December 31, 1961 54p 285. 46 Total Assets $6, 613 088. 34 Total Liabilities and Surplus $6, 6I3 088. 34 {See accompanying notes to financial statementsJ This statement is an inte part of report dated April 2, 1962 39 E�hib�t 29 Village of Braoklyn C�nter Public Utilitse� �`und STATE�+iENT �F INGQluIE AND �.A1�NED SL7RPLL�S Year I961 �at�r ��vv�r Depa.rtmen.t D�p�.r���n.� °Tota�. �ervice to cu�tomers $107, 2790 91 90 757. 34 $I98 Q3?. 25 j� Sewer permits �5, 29a. 00 Y5, 29Q. 00 Customer penalta.�s 2 960. OU 2, 960, 00 Intexest e�.rnert� on ternparary inve�t- �e��� I, 228 32 I 2�� 32 2 456. 64 '�ther �ncorne 5b°7, i6 144, 63 7I I. 79 I �r-o�s 4perating R�ven�+� $109, 075. 39 $1Y�, 38�. 29 �219 455. 68 Le��: p�erating revenute d+�-ductions► r �1per�.ting exp�n�te� (Exhibit 30 and �xhab�at 3I) 51, 040. 31 68� �Y9s.�� �IY99 359. 37 I7�;�r�ca�.ts.o� 35, 276. 05 36 985� 5a 72 26�. 55 Tot�,l Q�a�ratirrg �evenue D�d�.iction� 86p 316 36 �105 304 56 $19I 620 92 1Vet Incorn� 22 759. 03 5, 075. 73 27 834. ?6 Earn�d surplus (cl�ficit} Janu�,ry 2, 196fJ 32, 675. �6 Q 99 423a ?3� Sur�alus add�.tions (deductxons) representsng carre�ta.an of accur�ulated pra.or year de7ar�ciation prova�ion �rxars 3� 263, 50 B 64. 53� �a.rneci Surplus (Defi.cat) Decexnber 31 19fi1 58, b97. 99 4, 4Y�, 53) m...a (See accompanying note� to finan�ial statements) 1 Th�.� �tatem�nt is an integxal part of r�port dated April 2, 19b2, 40 Ea��.�b�� 30 V�Y9.age of Brook�yr� �����x° Publgc U�ilit�.e�:F°und WAT'ER DEPART'MENT QPERATYNC� EXPENS�S Year I961 Sc�urce of Srxppigr I P4We2° 6 $04 22 Pur�.ficat�.on sup�l�e� 4 037.9? Labor 5(�8, 5� Su�apiae� 5�9m 49 Fuel hea��.ng 3 �4s 6 l�a��rials I5� 7� Qper�,tion and maintenanc� of e�uiprnent �3I�02 �mal� t�ols $�a-97 Ptgrnp x°ets�.a.r� 36a:�4 Repair� t� st�°uctur�� �9m ?5 �$P4. 309m �k0 Tran�massi�n Latsor. 2, E�99,,63 Ii��:tear�a�s O�Oa �4 C?pe�at�on and m�,���en�,n�� of �q�prnent 423m OQ S�:py�l�es 1�9� 38 Szxx�Yb ��ol� ���.3� R.��a�r� �o rnair�� �O 5� Eq�a��m�n� ren�a9. 3A 78 4 �$�m 94 Adm�n���ra.�n Con��all��n� f��� ��Gm �d �a��r��� and �ra�e� 9�4a �0 R�r�t axi�l adm�x�.�tratic�m Qte� �T�����e �f �r�o1�A�n ��ra�e�� 3 ��0� 00 Ms�.��,�e g �58� 40 �n�a�r�.nc� 3��m r Pxov��a�r� fox° I'ub1�c Emp�.����s R.e�gr�m�n� �°�.x�d FYranting 5�o- �6 �u�lie� �?m i+�a�er ch�.r�e ref�.rtd� 57 S�xr��.11 to��.� 6A o i�ncc�Ylec��.l��e aecvunt� 6Oo 44 r F�.��. ecgu�paxien� 5�`m 7� O��xati.�n ancl m�,i���n�.n�e �f e��.a�men� 4s�o �.0 Aciju�t rn��er G���O�?S�8 'G� 3.C'��.1.�,� ��P a,11t�B� 4�a.3�. S+�lqc�€�b� and conf�renc�� 23Q �7 D�,�� ax�d �ub�cr��.ta�n� 50 Eq�pxnen� re���.� Q 53. �7 ��O 20 Cu���m�r Acc�un�.ng and Co1�e����n Sa�.�,ri�� and wages 3 4�Qm 47 Fc�atage 543m E�3 P�i.ntxng 3 49 S�ippl�e� 17Qa 73 Q�aeratac�n and main��n�,nc� of equipmen� Il �5 4, 5y°� `�7 Total Water D�gar�xn�nt C�per�.�nng Ex�enses $5Il, O�Om 3� (See �ccomp�.n�ang notes to f�n�.ncial �ta��m,�n��D 'I'h�.s �,��.�exrrent an antegra.l part of re�ox°� dated Agr�� 2� I962 41 I Exh�b�� 3 V�bla�e of �3ro����'n ��n��� Pixb�.ic IJb�.Y���s F'und 1 SE�VER, D�PARTMENT OPERA°TING EXF'�NSES Year 196� Di�posal S��rc� �ten� Gi�� of I�ann�ap�al�s $37 914m 60 R�n:� m Va�.9.age of Cr�r�t�.l 1 966a 50 $39s 88I YO F'urn�an� I.�al�or 67?m 56 Po�r�r 7�40 3� Arla��r�al� I 69?a 08 S�u��l�e� (S�,na�a��on) 5Q0� Q0 F��� hea�gng 79�-59 Equ��sm�n� �en��:� �6�.90 Q�a�rat��r� �.nd maant�na�c� of �q��i�mern� 330 65 Re�a,�.r� l�:f� �ta��ar�� 30$ 50 S��p9.��� 1$6 08 Sm�.b.Y t�c��� 5a 32 6 Sb�a Ob Tran���.���on --La�.Y.��1�. ��39m 9� i'�pera��mx� �,nd x�►a�n�en�,race �f eq�n�m�ra� 5��-59 P��e� 24�a 93 R�`p�g�� �n�.�.n� 238� 93 Equ�.�rraen� renta� �9��-b0 S�:�����ffi 55a 36 A�i��er��.�.s 3�� 68 4 096. 02 a.. Adrn�r�a�tr�,�bca� a���r�e� a�d �ra��� 07�0 30 �Z�x�� az�d adrnana��r�����n Q�o ��.��a�e of �r�a�kb�n �+�n�e�) �90� C�4 �5� Px°o�r���.�n for PubY�gc Ern����r�e Ft.e�arem�n� ��nd �77"@ 09 lns�a��.nc� 79� e 2� C�n����z�n� fe�s ���Q R:�f�nci�s �$�wer g�en��:�a�� and char�e� 9�.0 20 �'r�r���n 7�m 4� �u�� e��a.��rri�nt 57 ?6 Sxri�,g�. �o�i� 5Oa 9� +C�p�r����n �,nct inaan�enanc� of eq�pmen� 3��39 5�����.�� 3�� 37 LTn���.�e��b�� �.�co�m�� 2ba 54 Scl�i���� �,n�l c�nf�x°��ce� �3, 98 D�,�� �.nci suia�e�a��a�n� Y?-�..50 E�u��mem� x°en��fl 24� Y4) 14, 50Ye 33 Cu��om�� A�c��ritin� a.�c3 C�l�ec�amn 5�.��.r��� �nii-v�ia��� 9�9a 6I PQ�t�,�� 543a 06 I'r�n��n� 3 8� p m 46 S�x�p�.�� 1 3 Y a� 9? O�er��son and m��n�enan�e of equipmenit 45 3 027m 55 I To��� Sevvcaer D��a�°�i+�nt Glper�.tgn�q Expen�es $68, 3�90 06 (Se� �,ccox�n}�anying notes to fananc�ab �ta�e�nents) Th�� �t�.��ment i� an integral gax°t of re�or� da�ed April 2, 1962m e 4� Exhibit 32 Villa e of Brookl n Center g Y SUMMARY STATEMENT OF PLANT AND PROPERTY I AND PROVYS�ON FQR DEPRECTATION Year 1961 Assets Provisions for Depreciation Balance See Balance Balance Other Balance January l, Explanation Decerr,ber 31� January l 1961 Additions December 31� ASSETS 1961 Additions Reductions 196I 1961 Depreciation 4 Reductions� 1961 Water Departrr�ent Assets Mains and lines $1� 430�, 251. 57 370, 506. 05 $l 800, 757. 62 35 392. 82 $14, 335. 55 17a 55 49 745. 92 Structures 353p 096. 85 8, I35. 38 361, 232, 23 8,� 790. 8I I1, 429. 84 I23. 55 20� 344. 20 Consumer xreters in use 65p 553. 07 9� I28, 54 25. 22 74, 656. 39 6, 415. 08 3, 277. 64 2. 52� 9 690. 20 Equipment 185, 512. 30 3, 922. 65 58,, 166. 23 131 268. 72 lO 456. 02 6,� 233. 02 4 3� 584. 60� I3, 104. 44 Total Water Department Assets $2� 034, 413, 79 391� 692. 62 $58, 191. 45 $2, 367, 9I4. 96 61, 054. 73 $35 276. 05 3 446. 02� 92, 884a 76 Sewer Department Assets Mains and lines $3� 634, 163. 10 621, 661. 23 $4p 255 824. 33 93 947 44 $36 543. 98 64. 53 $I3Q, 555. 95 Equipment 4, 415. 00 796. 43 5,� 211. 43 lp 89I. 33 44I, 52 2, 332. 85 Total Sewer Department Assets $3, 638, 578. 10 622, 457. 66 $4, 26I, 035. 76 95, 838. 77 $36 985. 50 64. 53 $I32 888. 80 Total Assets Both Departrnents $5, 672p 991. 89 $1, 014, 150. 28 $58 191. 45 $6 628 950, 72 Q 156 893. 50 $72 '1,61. 55 3 381. 49 225 773. 56 9 S �P 9 9 V i Explanation of Reduction The reduction in assets in the amount of $58, 19I. 45 represents the followingo Assets sold 25.22 Assets sold I, 500. 00 Correction Qsee below 56, 666 23 $58, 19I. 45 The correction in the amount of $56, 666 23 does not represent a disposal of assets. The adjustment was made during the current year to correct accounting errors of previous periods which had resulted in excessive carrying values of certain projects originally constructed by special assessment funds. The result of this error in previous periods was the overstatement of sewex department assets by $56 666 23 and an overstatement of depreciation expense charged to operations. I �See correction of surplus for depreciation errors on Exhibit 29� �See accompanying notes to financial statements) This stater��ent is an integral part of report dated April 2 1962 I 1 I I I 43 Exha�ant 33 Villa�e of Brot�klyn �e�ter SUMMARY ANALYSIS OF Si?L7RGE OF FLTNDS INV�STED IN PLANT AND PROP�RTY December 3I, 196I 1 Contributions in Total A�,d of Gc�nstructnon Fram Investment (Special As��ssrnent�) fQp�„r�.ting Cost Basis Funel� .Gontr�.ctors Fund� �flater Departmen� Plant and Prt�perty 1 Balance, January 1, y961 $2, 034, 413 79 $1, 9�a, 322. 28 $134, �91m 51 Additions (See Exhabi� 32) 39i 692. b2 366, 72Q, 42 24, 972. 2l7 ReductiQns (See Exhibit 32) As�ets sold 1, 525. 22) 1, 500. 00) 25m 22� Qthe�� rec��.c��on�(Se� Exl�, 32) 56 666 23) 56 666 23) Tr�nsfer a� �o inves�xxn�nt �o�r�e (��e b�bow) -0- 9�6. 2�.) 8 9�6, 2� Ba�.ance December 3I I96B. S1Vater D�partment $2, 367, 914. 96 $2, 1999 96Q. 26 $16°7 954:0 Sewer D��ar�rnent P9.�.nt �.nd Pr�per�y B�,lan�e Jan�xaxy 1, 1961 �3 63� 578. 10 $3, 630, 992m Il 1 7, �85� 99 Adt1�.t�ons Q�e� ExhYl�it 32) 622, 457. 66 62� 9 Q73, 28 1, 384a 3�3 Balance Decemb�r 31 8 1961 Sev�rer 'Departmex�t �4, 26I 035, 76 $4, 252, 0650 39 97Q 3? Le�s: AdjusLxnent fox ci��r�ciati�n provi�ions �.ppl�.ea�l� to year� gri.or to 1957 charged to contr�buted surplus a:t th� inception of the ptzblic �tal�t��s fund Yn 1957 Q 2, 343, 24) ,�4, 249p 722, 35 E�p�anatacan, During the y�ar I96I the public uti.laties fund paad 1956 B Fund (a �p���al asses�m�nt f�nd) $8, 916. 2�:, The purpose of th�s p�.yment was to �ay up th� �ox�aon of water pa°oject co�t� not �.sse�s�d. to property awn�rs and c�.rra.�d �n the reco�°d� of th� Iq56 I� Fund as Genera�. Vill�ge �hare of project eo�t. In the ariganal in�tance all. �ratex project� con�tructed �y this fund were capitalized and tran�ferreti to the publxc ut�lg���� fexnd anci credited to con.�r�.buted surplu�. The payment of $8 916. 2�. has been cha�rged �o contributed surpY�,� and repre�:er��s a partia.l rei.mbursement to the 1956 B fiznd f4r wa�er dep�.rtment a�sets construc�ed a,nd transferr�d to the public u�ality fund, during prev�ou� 3'��rs• (See �.ccampany�.ng notes to fa.nancaal stateme�ts) Thi.� s�a�ement i� an in�egra�. part of repart dated April 2, �962, 4� Exh�b�.t 34 Vi.11age of Br�oklyn �enter A�ency Funds C�1�IBINED BALAN�E SHEET December 31, 1961 A�ent for Gombineci Fi.re Depar�. Public Employees Total EZelief`Assn Retarement Assoe. ASSETS G�sh on hand �.nd in banks Q 051, 2b 7 05�. 21 �Y 9 `N 8 Gash held b�r County 'Tre�,sureros t offic� 24bm 74 125. 70 121. Q4 Due from ather fund� 78 02 35. 26 42 76 Taxes rec'ei�able: L�vied in 1q60, colflectila].e �.n 196� 335, 45 i°�0, 08 I64.97 Pr�or yeax°� tax lev�.�s 228 64 �4Y. 94 86. 70 PERA contrsbutaon� due frv�n enterprgse funds 3, 636. �.7 d 3, 636, b7 °Tota�� 1, 575, �3 472, 9� ]102a �5 LI.ABaL��I`�ES AND FiTND �ALaANCES Lia,��.�gt� Du� to cat.ki�� funds 102, I 0�, T�ta� L�abi�ati�� 102 None IO2, 21 Fund $alanc�� (Se� ExYa�ba� 3�� I1, 473m 62 472, 98 Y1� OQQa 64 Tc�t�,bs $11 575a �3 4?2.98 ��ll, b02, 85 QSee accornpan��.ng note� to financaal st�,temen��) Tha� �tatement as an i.ntegra.l part of re�ro�t d�.�ed A�r�.l 2 1962 1 i 45 �I Exhabat 35 Vallage of Brookl�n Center Agency Funds STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCES(C4MBINED) Year 1961 I A gent for Combined Fire Depax°�ment Public Employees Total Relief Assoc. Retirement �s�oc. I Fund Balances January 1, 1961 $12, 582o O1 516. 84 _$12 065, 17 Adci� Revenue Taxes levied 1960 due 1961 36, 417. 95 18, 485. 88 17, 932. 07 Shax°e of Public Employees Retirement contributaons from enterprise funds: Liquor stores 1, 88Z.. 97 1, 881, 97 Public utility fund 1, 754. 20 1 754. 20 Balances and Additaons $52, 636. I3 $Y9, 0�2, 72 $33, 633a 4� Deducto Expenditures Payments to principal af agency $41 a 150m 46 $18 517. 69 $Z2 632, ?7 Writ� off 1955 t�.x �e�y balance fl2. 05 fl2, 0� Tota1 �xpenditures $41, 162. 51 $18, 529a 74 $22, 632. 7? I Fund Balance December 31, 1961 $1 473. 62 472 98 $�.1, OOO 64 (See accompanying notes to financ�aB. statements) Thi� stat�ment is an integr�.l part of regort dated Apr�l 2 1962 46 E�.ba� 3 6 �7b���.�e af Broakl� Cen��� �Agency.F°und� S"I"ATEMEN"T CQ�° GASH RECEiPTS :AND D�S�iLT1��EMENTS Ye�,r I96� a_ A ��n� for �ombined Fire D�par�ment PAxla��e Ern����re�s �'o�al ���i�f �����a �e��rement As�n� C�.�h on Hand and x� B�xs.l�� ��,n�.ary �96� 6540 06 m 5,b54� 06 �,ddo ��.�h r������� aI`ax co��.�c��s�n� �36 433m 10 �11�, �Il� 69 $b7 9Il5o 4Y PE�tA f�°�m en��r�r�.�� f�.nds 6, IlIl4o 5� 6 IlA4 5�. T��al Ca�h ltec����� �4�, a47� 6� �1�Z' b� $24,:0�9. 92 Ba�arac� �,rad Acicl���,�rn� �4�, �O� 67 f`�m 69 $�9 6�3v 9$ D�d�:��: �a�� ci��banx°��rr��n.�� Di�l��r��d to pr�nci��� Qf ���.XS�S7 'S�y �.�o t.6 ��p ED� ��p E?J�,o �6 Cash ozz� Har�:d �,�d a�a Bar�.�� Dec��n��r 3Il �96� �`Z O��, �ll �Tcsn� Z 051t 2� E�pl�,n�,��tax�o The $7 O�Ilo �y laa��.x��� �f ��,�h in b�,nk �������xat� ����eeci� r�ce���d ora tYae D���mber �96Il �ax ����1lem�ra� f���n ��i� �3�n.r�e��n Co�xn.t� �r�a�a�r�r �h.���. a� ���.��men� d�.�� �i�,c� n�� ���r� ���,n�f�r�ed ta �he P�b�1b� Em������� .1������men.� A������f��1�n QSe� a�c�mp�r��,r�� nu��� t� fan�.�c��.b �����rn����➢ Th�s ���:��m�n� an an��g��.l pap� of r����� d���d �1���� �96�� 4 E�h�.b�t 3? Villa,ge of Bx°ooklyn Center i Investment Trust Fund BALANCE SHEET December 31, 196I ASSETS �ash a.n banl� 114 755. 26 Accrued int�x°est rec�ivable 42, 266o P3 Investm�nt�, LTnamarta��d (Dx�count� Face Va�.u.e Px°�mauim Co�t Basis Una.ted States :gosrernment securati.es 200, 000, 00 23, 56 $199 976 44 Village of Brooklyn �enter secur�taes 68, 400 00 i 8 337m 53 66, 662. 47 Camden Noz_thwestern Stat� Bank, Certifa.c�,tes of d�posit 350, 000, 00 350 000, OQ Construct�on loan,� T96I AB Fund 930, 000. 00 930, 000. 00 $19 548, 000, 00 1, 361, 09 Total �nvestments� 1, 54b, b38o 91 i �ro�ai as��ts $l, 703, 660. �o LIABII,.,IT IES Vouchers payable Qcu�tod�an f�e chargesD 188. 50 Due to contractox°� Qcox�tr�ct p�rf�rm�,nce d�p�sgt�➢ 13, OI P. 89 Due to part�cipating fund�: S�ecgal a�s�ssm�nt funds $1, 440, 152� 59 Pazblic ut��iti�s fund 138, 452.e �J2 Munici�al l�quor fun,d 78, 9OC1, 38 G�rti.f�c�,te of_ �.nd�btedn�ss funds I4, 983. 99 P�rk bond fund 9 377. 42 General fund 8, 369. 92 Parl� bond `redemption fund 223a 59 Total Due to Paxtici�aatin� Funds QSee Exhibb� 39) 1 69a, 459 91 Tatal Liab�litie� $1, 7Q3, 664, 30 �See aecampanyi.ng notes to financial statements) Th�s s:tat�ment i� an integral �aart of x°eport dated April 2, I962 48 m I Exhibit 38 Village of Bx°ooklyn C�nter I Investment Tru�t Fund S`I'ATEMENT OF EAFtNINGS Y eax° 1961 Incom e Interest: Gonstructa.bn loans �,43, 432. 61 United:States guvernment securities 10, 456. °73 V�.11age of Pxooklyn Gente� securiti,�s 2 996 28 Total Interest Inctarne Q; 56 885, 62 "Y 9 �.�e�,��s CustadYan chaxges $568. 6I Audit 307. 5d F'rinting 69. 9 5 `T�tal Ex�en�es 946. 06 Net Ineorne Distributed to Part���.pa�ing Fund� $55, 939. 56 QSee Exhibnt 39 for detail of income dastrxbutzon) Explanataont The Investment Trust Fund was e�tablashed during 1956 to provide fc�r the inu��tment of temporary �urplu�es of casho Net ineome af the £und: i� distr�buted annually �o each of the �articip�:�ang funds on the ba�is of the �,�erage yearly �.nv��tment maintain�d by each funcl. The n�t uacome and �he effecti.sre rat� of return on average inve�trn�nt b� par��c�pating funds �.s shovvn below by years. Year Rate of Re�urnNet Incom� 1961 3., 05% 55, 939. 56 1960 3 62% 57, 907, 8g 1959 3. 27%a 33, 493. 75 1958 2, 62% 14, 834, 86 �.957 3. 12% 9, 938m 42 1956 2, 77% 1, 83I, 8�i TotaZ Di�trabuted Earninqs Since Inception of Fun.d $173 946 34 (�ee a.ccomp�nying notes to fanancial statements) This statement �.s an integral par� of regart dated ,.4pri1 2, 1962e 0 49 E�ab�t 39 Villa.ge of Bra,�klyn G�nter Inve�tment Tru�t Fun�. CHANGES :IN PAR.TYCIPATING FUND BALANCES Year 1961 Balanc� Net of Fund Incc�rne of Balance January 1, Addit�on� 1961 December 31, ]:9bI QWithdra��,ls� II?�a��ributed I96i Special Asses�rnent Funds I 7957 AB 472, 20ba-04 26 5QOm QQD i5, 139. �3 460, $45. 4? 1956 AC 412� 665. 97 23, 6Q0. 00� 13, 67Q 51 �02 73Gv 48 1958 B 136, 889. 38 2 3000 00 4, 56�, 89 143, 754. 27 1955 A i26�8��,96 2 �OUm 00 4, �.OI;. 27 a.;3, 724, 23 1956 B� 1�8, 448, 89 25 500� 00� 4, 885. 3I 127, 834 20 I96I AS Non� f�4, ?35� 22 35I. $0 65, 087. 02 I958 A 35, 189. 81 3, 350� 00 1, 823. 46 40, 3b3. 27 a�torm Sewer #�1 35, 550. 25 1, �00� fl0 1, 4UQ 8g 38, 55i 14 I9b0 AB None I3, OO�m 00 744, 39 I3, 745, 39 Sa�ita,ry Sewer #1 I�., 4�g, 36 1, �50a aOb 3?5. 69 I0, 627'. 05 �954 A 4, 29�a 75 2, �00� D0� 9.45, 61 2, 238m 3b 1959 AB 829a 47 8�9v �7$ 645, 7� 6450 71 Tatal Speca�;l Asses�rrien� Fu.ncis $I, 3�A, 296, $8 7, 706 35 4£3, Y48, 9b $1, 44(I, Y52a 59 Fubli.c Utalaties ,Funds 60 995. 38 75 QQOs 2 45b. 64 13$ 45�0 02 9 9 9 9 A�unieip�l Liquor F�and 46 935� �9 3Q OOUa QO I 964. 49 78, 900� 38 I C�rtificate of Yndebtedne�s Fu�a: �4 5oom o0 4��� 99 9s�m 99 Parlc Bonr1. Fund 25 663. 5? 17 OOQ, �Q➢ 713. �5 9, i77. 42 Gen�ral Fund 6 42i 88 i 4�, 04 8 36 2 9 u 9� 9 m 7 Park $oncl Redem�tion Fixnd 22�. 59 223m 59 I Total A11 Fund� $B. 524 3;13. 60 $I10 206. r 91 9 9 e_ 7' 55 9!39. 56 ;�Y FJ7Vy 459 I (See accompanying nates to f�nan�3�1 statement�) T'his statement is an integral part of repa�� dated Apr�.I 2, 1962 i -5Q's Exh�bit 40 V�llage af Br�ol�➢.� ��ra��.r SU�iA�ARY STATEMENT OF (xEN��tAL. FYXED ASSETS December 31, 1961 ,Tanua,ry I, Year 1961 December 3I, Investment 1961 Additgons Ded'ns 1961 Land 20, Y87o 79 2, 69� 32 22, 87�. 11 Bldg, Osseo Rd, 63rd A�re, 100, 3�.4. 72 220, 00 100 534, 72 65th and Lyndale Bldg. 84, 251. 24 84 251, 24 h�tunicipal ha.11 52 661m 97 564 00 53, 225, 97 Toal shed and garage 20, �.99, 50 12 �46, 09 32,445, 59 �riiscellaneous buildangs 2, 2I6. 76 2 216, 76 Park prop�rtie�� Qanclud-e� �buildin�g�) N�rth�oxt lOQ 503. 7Il 1 20g Q5 101, 712, 76 Wil�ow Lane 52 Q7Q. 50 236, OQ 52, 306, 50 Triangle 46 93b 33 29, 4ib 39 76 352� 72 '�outheast 46, 6?3, 30 555, �0 47, 228m 30 Garcien Gity 33, 5Q8. 3➢. 20�. 73 33, 7a7, 04 l�ice 3Y, 306� 05 220 �5 3�, 52fim 60 Poplax° Lane 25 65°�m i6 6o3 7� 26�26om9� Nor�hea�t �9, 337. 08 fi9 33`7"m D8 Donnay b, fl�b 03 75 6 �.°77a Sotath-Cre�k 5 655, 25 5 6550 25 Wang�t�,t� 62, 50 6�0 5Q Undi�tributed costs 9, 940, 41 5, �.73. 73 5, Il�.4, 4 Equgprn en� Stx°e�t and Y�ighway 165, 7350 14 20 �94p �Y �y�� 00 �8�, 414m 65 Fire pro�ectian 55, 4:640 69 3, 476m 67 5�, 94flm 3fi l�ecreat�on I i OQSo 15 i 9400 73 R2, 9450 Civii d�fense Y O 640, l Il 89m 00 ➢.0 7�9. I I Polaee 904. 10 4 8620 4C� 4 7Ea, 02 7 g 9$60 48 Furniture fixtures Note 8 32 163a 40 T 206, 64 3�, 37�, 04 Storm sew+�r a�nd stre�t proj�ct� 2 I73, 865 16 270, �030 2Q 2, 44�, 9fa8 36 T�tals .$3, i�4, 3230 86 $355, �3� a� 5, 295. �2 $3a 464 359m 85 Source of Ynve�t�ient �en�ral ind�btednes� 507, 685. 23 44, 096. 36 55�. 78� 59 Ad vagor�rr� leva�� 249, ��8a 08 28 554. �2 5, 295.'02 272 41Zs 28 Liquor store revenues and certificate� I76, 079. 65 I2, 466. 09 ➢.88, 545m 74 Special as�essment projects Viilage �haa°e 24 324� 31 24 32_48 31 C3wn�rs' shaxe 2, 018, 623, 05 268, �20. 00 2, 286 8�3�05 Cont�ract�rs I Y 0, 9�.7. 80 1, 883, 20 112, 80I� 00 Henn�pin County 20, 000� 00 20, OOOo 00 CQntr�.butions xecei�ed 7, 535 74 I�� �.4 7, b46, 8� Totals $3, I�4 323. 86 $355, 331� 0� 5,: 2950 02 �3, 464, 3�Qm 85 (See accompany�.ng notes to fin�.ncaal s�a.tern�nt�s) Thi� st�tement is an in4�gra1 part af report dated Apra� 2, �.962, 51 Exhaba�t 4� �T�bAa�e of B�°��F��yn C�rat�� S'[T1t�.MAI�� 57C1 OF �ENE�ZAL DEBT AND YN°I'EFtE aT Dec�mber 3Il 196Y Amou.nt Ava�Yabl� and to be P���ded Amou.n� a�a��.abl� �r� delat ����r�ce fundsa Park l�on�l red�m����n f�,nd 5 �.470 �7 Cex°t�f;���.te of �ndebtedx���� r�dem���ox� f�nd 6 866, �0 St�,t� ��an f�nd fl ��6m 30 Gen�r�,�l Not� 9 m p�.�� �o�a �vo�� 9 �'o�a� Arn�ann� A��,gllablle �3 3�90 7°� 'Amau�t tc� be �r��d�d an futu.�e p�r�od�o Fox° �n���e�t ��6� 64�0 4� F°or �rgn��p�,� 5��� ���m 5� °I'o��,� Am��;n� b� P�ov�ded 7�°d �56a �Q �'o�al Am�rAn� A�r�,�.b�.blle �.nd t� b� P����d�d $76� 86"�� 7� Gen��°�� D�1�� �.nd I[nt�r��4 b� Paad �r� F����� �e���ei� (�en�r�.� bor3ds Ql�r��nc���.� p������r�� Pa�k �.�qaa�����o�a ��nd� �3`75 OOQm 00 Ger��f���,�e� �f bnd�b�edn��� 4� ��Oo [IO S��te ��ara ce���.��c�,��� 70�0 00 °To��. �en���� �.i�nd� $4��9 `7�Oa 00 Cc�n�r�,c�� a.nd �;��e��m��i�� QP�b�c�s��.� ����a�ra� ��m�r�.�� ��,y�.�ge gT���n� mach�ne�-1Vo�e �4 99�m S'p�ca�,� a�se�sm�r�� ���r2e� �n V;i�'���e- pro��;r���s 3� �b�o �7 Sp���a� �.����sm�xi� ���s��� �n �aa��€ g�r�������� 7� b��m 3� Tg��l Cc�rr�ra��� and A��e�sm�n�� �66, 5�0� �5 1 °I`�ta� G�nera� Deb� �5�5 ��Oa �5 Intere�t ��.y�,��� gn f�ture per��d�: C��ner�� borids ��Il54, 49�m 00 l Con��a�ts papab9.e ��To��ng ma�l��rnes fl�� y49a9� Sp�c�.�.� a�����rn��� �e��es ora �T��b�ge ax�d pap�e �roperti�� Nor�� `����.fl Inter�s� Pa�ab�� �n Future Pera�d� 165 644:0 92 Totab Geri�x°ab D�bt and �n���°e�f� 7ae Pa�d �an F°au���e P�r�ocl� $760, 865, Z°� QS�e a�c�m��n�n� no�e� to f�nar����.�. s��.t�ment�� Th.b� �tatemen� �,n �.n�e��al �a�°� of re�or� d�.�ed Ap�°al 2 Il96�, -5�- i r Vi3.lage of Bx°ooklyn C�nter 1VOTES 'TO FINANCIAL STATE1vIENTS Year �9b� Note 1� Exhibit 1 a°Combined Balance Sheet m All Fund� and Groups dGondensed Form)" i� g�°esented as an informative �tate"ment customary in'gowernmental type financial reports. The reader as instructed that the fagux°es as sh.awn �xnder the "Comb�ned °Tota�°' coB.umn becau�e they represent a combinang of unlike purpo�e grc�ups �fu.nd�� cannot be constru.ed as araci��atgv� of the over=all f�n�.nc�.al pos�tion of th�' Village of Brooklyn Genter. The figures in �he "Combined Tot�.��fl colurnn of Exhibit l are of informati�e �rabue only and �he fin�.rnc�.al pc��it�on of each fund sho�xld be ascertained fpom the andi�idual exla��its as submit�ed for that fund w� thin this x°ep�rtm Note 2: (Gene�ab Fund) Th� amount of $50 000. 00 has be�n �.ppropr��ted fr�rn general t fund unappr�pria�ed su�°plus as of December 3Y �961 fo� general Villa�e opera.t�.ons duaring 196�. Note 3: (Special Assessment F°unds) The stArg�fl�xs adj��tznent in the amount af $7 365m 40 repx°esen#s a corr�ct�on of interest �ncome between ye�.x�s 1961 a.nd I960 bx°o�ght about by the adopta�r� of x°efined acc�untiaa� pr�cedure� �°elatin� to new assessmen�� pl��ed or� the rol�.s dur�ng the current year. In the init�a� year of placin� an assessment on the roll� the interest included o� the rolb runs f�°om Octobex° 1 tl�r�u�h December 3I of the foll�wing year. (An int�re$t pex°�Qd of 15 month�). LTnd�r the px°e�rious accounting method the fu,Yl fifteen months interest �ncome was �,ccrtx�d to the year of collection resaa.�.��ng in a distox°t�on of incoxne f�r that year insofar as it concerns n�w le�ries, A corx°e�t��x� of ac�ountiing methods was instituted thi� y�ax° and the restnitant arnoun� of $7 365, 40 Wa� C�eaat�a to stxrpl�zs so a.$ no� to clistort curx°�nt ye�,x° antere�� re�rer�ue. Note 4: (Special A�s�ssmen� Faxnds) Tt is the po�.�cy of the govex°n�ng bod}r of the �Tillage to tran�fer tca unappropx°�ated surp�us fnr interest any x°e��dual bayanc�s of construct�.on monies Qxznu�ed construction appropr�at�on�� when th� construe�aon phase within a fu.nd i� completeo Residues of mon�es avaalab�.e for canstruction in the 1956 AC F�nd ($4� 972 96) and I958 B Feund ($20 012o Q7) have in previous yeax°s been closed to surplu� a��,a.lable for interest without provision for appx°opriata.ng the remafning co�ts of project� in pro�cess. During the cux°rent year action was tal��n a.�propriatgng sufficient monies frorn ia.n�.ppx°opriated sux°plus for imterest to cower the construction def�.cits incurred in these two funds and accoz dangly �Yge residual construction monies originally creclited to interest payment purposes war x°educed from $24, 98�. 03 by $2, 486, 37. 53 1 V����,�e of B��cak�� ���,��x Nt�'I'ES °TQ F°YI�ANGAI�L S'I'A°�E��NTS Year m l fl 1 Note 5; (Special A��e��sn��� Fund� Duran� the y�a,� a�gropr�ataon� a,nd exp�ncl;a�ure� i.ncur�ed r�;A�,t�.ng to these appr��r��,�a�n� were tr�.nsf�rre d f��m �he I9b0 AB Fund to the I961 AB F�znda `TY�e fzn�nc�n� for th��e tr�.nsfex°r�d pa°o��cts taPPropr�at�on�� i� ar�axa�ed t�nr��.��n th� �96I AB Fa�.nd and the zran�f�� wa;s nece��a�� s� a� ta re�a�e tli,� a��������� �f proj��:t e�n��r�.c���+n, fanancing and a��effi�merx� ta pr������ �wrn�r� the s�,m+� fund �nt�ty� Nate 6 (I�►fiunicipaY L�¢�t��� Fn�ndD Fur�u�,r�� t� t�rsn� �f �he re���az���n d������r�g and �.u�hc��iz�tag th� issuan�e c�f r��ex�u� ce�ft�.f��a��� c�����n x°��t��cx��� cc�venants have be�n enacted f�� th� b�n�fitt �f ho�d.ers� Fara.��apla �c �rc��y.d�$ �ha� �,t A���� ��,���r� c�ne-fo�.r�h 3' c�f f�����.ng Y��,ro� ��ax�����A �.aic� an��r��� be �egr���,�ed a�ad �e� a�gr�� �r� c��� f�r the b�n�fa�� af cer�a�b���� h��d���o A� �f D��;�sn��� 3Il 7196� c�,�2� �.n tla� �,mount �f $9a 6050 0� Q��px°�s�n��x�� �x����e�t and px°�rn�a��.b f�.���.x�� cIue J�n�;�.�y Il 1962➢ had b�en transf���ed to th� pa�.n� a��n�a Para�ra�h �d r��ga�a�°�s a �e���bc���on mf ����bu� ��a��,b th� ne�� en�uang Y��.�Q� ���,m���a,Y and gn��re�� re�����m�n� As of I����mb�a 3Il, �96� ����r�c��:d s�r���� ���a�ed �Il O 44 54m (�5, OOOo 0(l p��nc�p�,� d�ne ars 196� a�ct �n��r��� f�r �he y��.� Y96� �n �he arnou�� a�f �5 4470 50� Note 7t �MunieYp�� I�� as�� F'und� ,Ynven�or�r �r�a°s�.r�c�s r�p�°e��r�� ����x�ded d�ffe��n��$ b���e�n ma�nta�n�d �e�p���a�. ��cox°d� a�2d a��uaA p����d�� �l�y�i�a� cgun�s af me�chandB��� t3f ��ie ��89 �6 ��<r��.rn�e, ��34m �3 re�r��en�� �o��°e��on c>f l���grt2'tg�� �t���xg�o�y Q�b�.x��.a:�;py �96�� fag�x°e$ fc�� store n�:mber on� �rad �1�� ��ma,ir�ir�� �an�unt $�4m 73 re�r�s�nts the aver-a�l ci�fference� f�r �l�e y��,r f�� wY����a r�o �'p���f�c �easora cau�d be a�ce�°tannedm 54 1 �Ti��a�e of �ro�l�b� ��n�e� NOTES 'I'O FINANG�AL STA'TEIviENT 5 Ye�x° I96�. Note (5umzn�,ry �tatement �f Fgxed As����� Cont�°acts pay*a.b3� �o the Itockwelb .Maxaufa,ct�.°ang Com�any for ren�al/ purchase af fort� a�.t�ma�ic vo�in� machin�� a.� t���.l cos� of $62 E�°74 (�(3 plu� fu.tu�e iri��x°��t a� 4��2% ��r �,nxxuan p����cl� t��.� the V��lag� ma�' I I ehoas� xo ��.�her �°ent ca� �a�.rcha�e thes� vc���r�� rna�l�.ne�. Th.� Vi��.�:�e may ugon wra�t�n r������ re�rr� the m�,�l��ne� d�,�ya�� �rig� y��,� vv��h the p�o���o tha:t �he next in��a:�lan�n� da�e d�,� af��� �h� d��� retu.�nang �h� mac�in� an i� paicl« Th� p�ar��a��l ts�,b�,nc� vvha�h r��n�.�n� ���n on the c�ntr�ct a� of I}�;cemb�r 3Y �.96� a� :��4 095� Q��� E���b�� arid tlz� 1��� ��h�ctuleci installment d�e an P97Il, The cast vala�e of-�6� 67� 00 �c�� r�f�����d in f�a�a�.�u�� and f�.xtuxes as of De��mbex 3Il �9611 ax�d �rn�era� of t�a� Vi�b�g� t� eapitalize thes� a��e�s �r' �l�e fu��zr� �xrl��n �.r�el �f �n�Y� acce���d �.nd the transac��.or� f� d��m�d a�a��°c��,��m Nate 9 a (Summ�.ry Sta��m�n� o� ��n�x°ag D�b� �.r�d �S'������� Th� prgn�np�� �ao�i���n d�ae �p����,�. �,������n�r�� f�nd� �e1�;�An� �o project c���� a������+�ct �;�a�ra�� Vs���.�� ������t���� $��2 as af De:c�rnb�r 33 19b�o The pa�n�z��� f�� �h��� �mpr�v�mea�.�� ha�re been �ched�a.��d ��re� a����od ex�end�n� t� IC9�� ���1°� nt� �.n������ ch�,�ge 1 to th� Vy�.bag�. Th� a�s��sm�n�� are �h� ��������orn of �h� ��,r� fund and gener�.� f�.nd and �h� 1iq��,ci�,��c�a� o� ��a��� ob�n��,���n� g� ��ars�a�d f�r �racl�r genera�. budge� �����d�r�� ancl r�qaa���d �.����,��:n�ra�s �.Ill be ���x°�px°�at�d. 1 dux°�ng the b�:ci,g�t sn v��a��h ��ey b��a�me dax�� Note I0, The firxn �f Lanclqu��t Fx°��ex° �.�d IV,{�.���x�on a��or11��'� f�x th� Vil�,age� was c�n��,��ed of Aprsl 2 1962 :a� i� rn�,y c�n���n po���bA�: ccsntingent Y�a}�abIl���� or ��ndixn,� 1�vvs��u��� an vv�a�h �he V�g���� a� �n�r��vedm We �rer� �nfo�med xYaa� �,ra or���n�� c�nd�min�,��.�x� a��rd �n �Ya� arnaunt �f $600, 00 w�.s no� a,c����ed and h�.� b�er� a �al�clo T�hera a d��eranan= a�ic�n c�f the prc�la�r �;su�,rd ha� b�era rnad� tY�� Va�.�.�,�e be laabl� fox° pa.yrn�nt �he�eaf. r t t 55