HomeMy WebLinkAboutVillage Audit Report-1960 Villa�;e of Brooklyn Center
AUDIT REPQ� T
For �the Ye�.r �Ended I?ec°�m�b�x 31, 1qb0
TAT�LE OF C�NT�NTS
Exhibix Pa e
N�arnl�er Nurnber
Qginaan 1,
COMMEAITS SEGTIG1hI
General Comments 3, 4, 5
Listing of Village Officials Decernber 3I, 1960 b
FINANCIAL STATEMENTS SECT'I�N
Cornbined Balance Sheet All Funds and Croups
(Candensed) December 3I, 19b0 I 7
General Fuxzd Statements:
Balance Sheet Decembex° 3�1, 196Q 2
-Analysis of Changes in Unappropriated St�rplu:�
Year 1960 3
Statemen't of Revenue, Year 1960 4 �0, 1�
Statement, Expendi�ures, Appropriations :and
Encuml�rances, Year 1960 5 1�
S� of Exgenditure� �lassified by Func�aan, y
A�tivity, Character and fJbject, Year 196(� 6 13
Special Revenue Fund'sc
Cornbined Balance Sheet, Decernber 31, 1960 7 14
i Analysi� af Chan,g;es in LTriappropriat�d �urglus
(Comb�.neci) Year 19�0 8 1�
j Pa.rk Board ]E'u.nd:(a special revenue funcl.)
S��tement' of Revea�ue, Ye�r 1960 a 6
L Statemsnt of Ex end�ttxres, A ropraatic�ns and
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Encurnbrances, Yea.r 1960 ].0 1'T
Sta.tenlent af Ex enelitur�s Classified b Actavat
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Cha�racter anci fQ�aject, Year 1960 �J,1
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Villa. e of Brook n
g ly C ente r
AUDIT REPORT
For the Year -Ended December 31, 1960
TABLE OF C�ONTENTS
Exhibit Page
Numbe�r Nurnber
FINANCIAL S'I'ATEMENTS SEGTXON, CON'T'D
Specia.l R.�venue Funds: (Cant°d)
Poox F'unda(a specia:X. revenue fund)
Statemerit of Revenue a.nd Eacpenditures, Year 1'q6Q 12 19
Park Bond Fund
I Balance 5h.eet, December 3Y, 1960 13 20
Statement of Revenue and Expenc�itures, Yea:r 1960 14 21
Staternent of Expenditures Cornpared with Ap ropriations,
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Years, 1q58, 1959 a�d 19b0 15 22
Debt Serviee Funds
Combined Balance Sheet, December 31, 1960 16 23
Combined Staternerit of Reuenue, Expenditures
anci Surplu.�, Year I960 I7 24
Special. Assessment Funds
Combined Balance Sheet, December 3�, 19bi� I8 ZS
Coxnbined Statement of �Jnappropriated
Surplus Interes� Year 1960 19 26
Cambined Statement of Comstruction Expendituxes
Compared vvi.th Appropxiations, Year 1960 20 27
Statemerit of Long Term Debt, December 3I, 196� 21 2,8
Village of Brooklyn Center
AUDIT REPORT
For the Year Ended December 31, 1960
TABLE OF CONTENTS II
Exhibit Page
I Nu�nber Numbex
FINANCYAL STATEMENTS SECTIQN, CONT'D
Public Servace and Enterprise Funds
Municipal Liquor Fund
Balance She�t December 31, 19f�0 22 29
Analysis of Changes in Sux°plus 23 3Q
Statement of Inc�me and Exgense 24 31
Statement of Receipts and Expenditures,
Capital Expeziditures Acco�:nts
Y�ars 1959 and 1960 25 32
Public Ut�liti�s-Fu,nd
Balance Shee�, Decembex° 31, 1960 26 33
Stateme�t of Income and Earned 5urplus,
Year 19b0 27 34
Water Department Operatin Expenses,
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Year 1960 28 35
Sewer Depar�m�nt O eratin Ex ens�s,
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Year 1960 29 36
Investment Ta°ust Fund
Balance Sheet, Decernber 31, 1960 30 37
Statement of Earnings, Ye�.x° 1960 3I 38
C�aanges in Participa�ir�� Fund Balances,
�ear 1960 32 39
�Tilla�e of Brooklyn Center
AUDIT REPQRT
For �he Yeaa� Ended Deceanbex 31, 1960
`I'ABLE OF CONTEN'T'S
Exl�i�it Page
Numbe�- Number
F�NANCIAL STATEMEN'I'� SE�TIQN, CONT'D
Agency Funds
Coaxib�ned Ba1an�� Skaee�G Decern�er 3I, 1�60 33 9:0
Staternent of Revenaze, Expendi�ure� and Funci Bala�ees,
Ye�,r 19b0 34 4A
Statement of C�.sl� Rec��ga�s �.nd Dis�ursements,
Year �.960 35 42
Gene�al F�xed A�s�ts
Sua�an�.ry Staternen� af G�ner�.l Fixed Assets,
Deceanlber 31 196Q 36 43
Ger�eral L�ng `Term I�eb� a.nd Interest
Surnmary Sta�e�neri� of C�ener�,l Deb� and Intere�:t,
Decembex° 3�, 1960 37 4,4
Notes to Finar��ial Statements 45, 46,
OIVA PENTTtLA
CERTIFIED PUBLIC ACCOUNTANT
512 NICOLLET BUILDING
MINNEAPOLIS 2, MINNESOTA
j� To the Village Council
Village of Brooklyn Center
Brooklyn Center, Minnesota
Gentlem en:
We have examined the financial statements of the various funds of the
Village of Brooklyn Center as of December 31, 1960 and for the calendar year
then ended Our examination was made in accordance with generally accepted
auditing standa.rds and, accordingly, included such tests of the accounting
records and such other auditing procedures as we deemed necessary in the
cir cum stances,
Definition of Audit
Pursuant to the terms of our engagement, we conducted a
Limited General Audit, defined as "an examination which consista
of a review of internal control and accounting procedures, and of
the details of a11 records, including subsidiary records and supporting
data, as to Iegality, mathematical accuracy, propriety and completeness
of all transactions on a test basis. This test examination presumes
that the iterns selected are representative of all the transactians".
This type of audit presumes that the auditor is expected to render an
opinion concerning all of the transactions and records even though
he has examined only some of them, subject ta such qualifications
as may seem necessary,
Scope of Examination
Our examination covered all. financial transactians of the Village
as included in the records maintained by the departrnent of finance.
Exception or Qualification
A portion of funds obtained for recreational purposes consists of
cha.rges for transportation, registrati4n and sale of supplie� and
sundries to various individuals, Since it was not feasible to obtain
inde endent confirmation of such recei ts our exarnination relatin
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to such monies was limited to a review of amounts as recorded.
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In our opinion, subject to the above exception, the accompanying
balance sheets and related statements of revenues e enditures and sur lus
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present fairly the financial position of the various funds of the Village of
Brooklyn Center on December 31, 1960, and the results of their operations
for the year then ended, in conformity with generally accepted principles of
governmental accounting applied on a basis consistent with that of the previous
year.
Respectfull mitted:,
C..�/.,�.v�J ...�yv�2�
�iva Penttila
Certified Public Accountant
Field Work Completed March 27, 1961
Report Si�ned June 9, 1961
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Villa�e af Braoklyn Cen�er
Audit Yeax 196t1
GENER.AL C�M�+tEI�TS
I i Ux°�;anization and Histax°y
The Villa.ge of Braoklyn Center was incarporated as a vxTla.ge o� FeUrua.ry 14, 1911,
�:nc3er and pursuant to M�.nnesota .S�atutes (MSA �ha�tex 412).
The governing body c�f 'the Village is :the Villap;e �ouncil consisting crf the
follcrwy.ng elected officials:
T'erm of Term
Office �xpires
i�a�ar W�,11Ii1am N. Su�er Twa �'ea.r� Dec, 31, �961
Clerk H. R. Jones Two y'ears Dec. 31, �960
Trustee �ayne Gageby 'Three years Dee. 31, I960
Tru�tee Glifford VV�ellman Three y�ears De.c. 3Y, 1961
Trustee Carl Carls�n Three years Dec 31, 19fi2
The genera:l p�licies of the Village origix�ate with the Gounci.l and variou�
com�n�.�si,�n� Vax�d boaxds that serve in designated advisory ar�d admin.istr'ative c�pa►;cities.
Thes:� palicies a;re adm�ni�tereci b vax�ous d� �,rtrnen� heada, un.der th� �u�►exvisic�n
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and directian of M.�. A. J. Lee, the appointed V%Ila.ge Arlrninistrator.
Th� jud�.ci�.l., treasuxer'� and assessar's f�ncti�ans af governmen:� are car�r3ed
out through eleeta�ve offi.ces vvv�tha.n the Vi11a e as fc�llows:
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Term .af Terrri
�ffic� E�pires
Sus�ic� of Peace Jahn Wingard Twa years Dec. 31, 1960
J�i:stace of Peace Rayrn�nd E. Bensoz�. Two years Dec 3I, 1961
ViTla.ge Treasu�er Victar A. Ehrenbe�°g Two years Dec. 31, I961
Vil.la.ge A�sess-ar J�hn Nordberg Tvs��o years Dec, 31, �96Q
A continu�.ty of gQVerrs�ent is 'as�ured fair the V�Ia.ge through a s.�st�rr� af
stag�e�red te�ms :�af office ,for aI1 elected offiex��s.
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�Taalage of Brooklyn Gentex°
Audat Yea.r 19faQ
GENERAL COM1v1ENTS
Gen�ral Up�x°at�;ons of the Va�l�,ge
The Villag:e, �.n addition �o tiv.e usual activities of general governrnent, gublic
s2�,fet�r �.x�d w�If��e ha.gh�r�,ys ,and rec��ation, operate� two c�ff sale liquor stor�s
and a publac san�.�ary s�wer a,nd �ra���° utility. °The r�v�nues produeed b'y the municipal
l�quox stores in exces� €�f opera�ing ca.pitay requxrements have been used for acquisitian
of general village a�s�ts and z1�� p�.rtial fin�ncing of �he villa e eneral bud ets. The
net revenu�� of t1�e publfc utilaty a�e re�aaned vv�th�n that orgaz��.zation and are employed
for sewer a.nd waxe� utility pu��ac��es,
Accotxn�ing Sys�e�n and Methods
Th� ,syster�z of acca�a:nts u�ed by the Village is i.n cornpl�.ance w�.th a classifie'a.t�orx
af accourits for u:se b�r ci�;y� and vxlla.ge fiscal offi�ers a� presc�°ibed b.y the Public
Examine:�os office pursuant to M�nne�ota Statutes (�ectiar� 2I5.10
Ir� adci�.taon to mir�amurn p�e�cr�bed requirex�nex�ts for ac:countability, the Village
maint�.in� a cam�rle�e budgetary sys�em of accoun�s wirhxn tho�e funds (separate
accauntin ent�t�:es� �rl��r� bud �t�.x� roced:�i�es are a licable. Also a erfoxrnan
g Y P �P a p ce
c�ost �:.cc�auri�xng s:y�.�em x$ integrat+�d'vvi�hin the accQU�t�,ng for genexal fund activities
�.nd provid�� nece�sa�y co�t dat�, on projects a�d activ�ties carried axa.� by the Village
�o ��er vv�tli y.nforrn�;ta�re da�a useful to the btxci etar coritrol of ex enditures:
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The accounting fo�° a.�.l ope�at�ons and a,ctxvitxes of the ST�.11a:ge is se�regated
into �rarious fund en�i�a�s c�� pixr�aose groups as r�qu��r�d by �t�.tutes or d�.ct�.ted b�r
i� a�courr�in x��.nc.i le�. Al� funds �v�.th some mir�or ��.���;n f
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maintained on an acc�uaY la�.s�.�e Cren�rally accept��. a�coun�in'g Fr�nc�pl�s and
principles rel�.��.n� to gove�nmen��,�. �,cca�.nting as d�velo��ci by the Nati�r�al Gomm�ttee
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Vill�.ge af Brooklyn Cent;er
Audit Year 1960
GENERAL COMMEIVTS
j Acco�xntYng System a.nd Methods, Gont'd
on Goverriment�I Account�.ng ar�e adhered to for a11 fund:s,
Th� �ccou:n��.ng ancl booklceeping fo� the entare activities a� the Vill�,ge ar�:
eentralizecl und�r tlze Departm�nt of Director of Firiar�c�. The responsibility of
rnaintaining and prescribing all financial records, establish�ng ir�ternal ce►ntrols,
a.dministering tlze finances of the Village and the prepa.ration af various fia�:a�a.ciaA. anel
budgetary reports is delegated to t19.is dep�.rt�n�ait. `I`he xnecl�ari.�.cal processes t�f
bookkeeping are acctrmpl�.sflzed th�ough u�� �of xrica��ra�, ug tQ dat� machine m��hor�s.
Additaona,l Repc�rts Submit�e:d
The term� of Qur engagernent included an a.uclit of �he �°ecords af the ".�rc�oklyn
Cexiter Fire Departrnent Reli�f As�ociation", an ox�a�iz,ati.s�z� �eparate an.d di�tir_ct
frorn the Villa�e of Bro�k�y��. �enter. A r�port c.c�ncerni.�g tlae activ�,�ies ,�f t�.is entit�r
has been directed t� the as�aciation under s�pa.raete cov�r.
A s�epa�a.te s,uppl�mexita�y r�part coverin� the exa:mina�ion of the xecords and:
accaunt� of the Vzllag,e fias been px°epared and da�ected to the Coa�:ncil. This report,
as such zs not a fAnancial re ort but contains va.r3.ous �bservata.ons of th� auditor as
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1 it rela��s to ma:�te�s of financial nature and its purpo�e is tr� a�si�t th� g�vearning b�dy
of the Vil.Lage in an advi.sary capacity by submitting specific recornmer�da,taons and
su es��ans,
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Village of Brooklyn Genter
LIST'ING QF VILLAGE ;�FFI�IALS
December 31, 1960
Village Gounc�.I 4Elected)
Mayor �Villiam N. Su:per
Vi11�.g� Clerk H< Russ-ell Jon:es
Tru.�tees �ayne Gageby
Clafford Wellman
Garl Ca.rgson
C'�ther Elected Off�.cials
Jus�ice of Peace John �Vingard
Jus�ice of Feace Raym�ond -E. Benson
Treasu�°�r VXCtor Ehrenberg
Ass�ss.or John Nordberg
V�.11a.ge Adxninxstrator A. J. Lee
Ad:m��istrativ� Ass�.s�ant- A1 L�n.dman
Departm�nt Heads
Finance I2.. J. Bullack
-Engineer�.ng D4�ald N. Poss
Polic� R.obert Gahlander, Sr,
F�re Caxl Anderson
Protectave Inspection Donald Staxk
Civil Defense Ha�ald Hanriay
Publ�c Utili�aes F`rank Sm�.th, Jr,
Str�ets and Highways Henry Davis
Liquor Stores Tr�.rnan Nelson
F'ark and Recreation Eugene Hagel
Park Board.
P�.t�1. Bula.en, Chairman
Da�.las L�wrence
Fx°an�is Ix°win
Planning ,Coxnmi�saon Recreation Gorrimi.s�ic�n
H, Z, Derneules, Ghai.rman Leslie Hagen, Chairm�.0
Harr� Fc��,te Bruce 1vl�rrow
Paul Bullen 1�Ixs, Leo Houser
Sigux°d D, Edlin;g John �ingard
Vernon Ausen Mx°s..Ralph Johns,on
1Vicliola�a Wa.rhol Clifford Wellman
Alfred Kattax Franc�.s Irvin
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Combined
Explanation Tota1
Assets and Resources
Cash on hand and in depositories 537, 673.94
Temporary investments 1, 524, 313. 60
Due from other funds 136, 327. 52
Accounts receivable 20, 141, 23
Accrued revenue 22, 250.42
Cash held by County Treasurer's office 20, 104, 22
Taxes receivable (net} 8, 582, 76
Special assessments receivable 3, 855, 974,75
Cash held by paying agents for debt and interest 349 159a 25
Inventories 82, 644, 64
Investment inventories 1, 484, 398. 04 I
Prepaid expenses 1, 720. 13
Fixed assets (net of depreciation) 645, 925.63
Unassessed construction 525, 787.85
Amount available general debt and interest 10, 227. OI
Amount to be provided general debt and interest 750, 742, 91
Totals $17, 965, 973.90
Liabilitie s
Vouchers payable 43, 506. 09
Contracts payable 187, 2I8, 63
Assessments payable 100, 611.87
Accrued expenses 54� 837. 81
Due to other funds 136, 327. 52
Construction loans payable 900, 000. 00
Bonds and interest unredeerned from paying agent 340, 010. 50
Customer and contractor deposits 80, 166 96
Bonds and certificates payable 4, 981, 000. 00
Due funds participating in investment trust fund 1, 524, 313. 60
Interest payable in future periods 180, 440. 45
Tota.l Liabilitiea 8, 528, 433, 43
Surplus, Reserves �nd �und Balances
Surplus and surplus reserves set aside 502, 726. 21
Contributed surplus and assets 5, 667, 424 69.
Investment in fixed assets (general) 2, 975, 870, 32
Unexpended appropriations, authorizations and balance$ Z91, 519.25
Total, Surplus, Reserves and Fund Balances 9, 437, 540, 47
Totals $17, 965, 973, 90
Village of Brooklyn Center
COMBINED BALANCE SHEET-ALL FUNDS AND GROUPS (CONDENSED)
Decexnber 31, 1960 Exhibit 1
Special Debt Special Municipal Public General Debt
General Revenue Park Bond 5ervice Assessment Liquor Utilities Investment Agency General and
Funds Funds Fund Funds Funds Fund Fund Trust Fund Funds Fixed Assets Interest
$1 U2, 862, 88 14, 770. 13 6, 6890 53 17, 02Q, 61 276, 484. 23 50, 182 72 25, 011, 35 38, 9980 43 5, 654. O6
6, 421, 88 25 663 57 1, 384, 296, 88 46p 9350 89 60, 995, 38
35, 496o g3 66 0 50 11, 36 89, 2000 15 88 88 5, 349e 19 6, 114. 51
b4o 50 22. 89 20, 053. 84
11 396, 40 l0 854. 02
3, 943. 3b 208. 95 1, 680, 47 4, 008. 41 263. 03
5, 828, 99 599a 83 1, 140, 50 360, 82 652, 62
3� 855, 974a 75
339, 840, 50 9 318 75
69, 0720 47 3, 396, 23
10, 1750 94 1p484, 398a 04
1 260. 83 459a 30
15, 5030 38 5, 516, 098 39 $3, 114, 323. 86
525, 7870 85
10, 227 O1
750, 7420 91
$164, 7940 48 15, 645. 41 32, 353. 10 19, 852. 94 $6, 475, 953. 59 $192, 3850 81 $5, 642, 760. 08 $1, 534, 250, 49 12, 684. 22 $3, 114, 323. 86 $760, 969. 92
12, 274. 15 1, 5400 12 342. 00 3, 924, 88 15, 6830 86 9, 7410 08
143, 301, 03 43, 917 60
100 611, 87
7, 5190 61 4, 1780 13 38, 743, 22 4, 3960 85
1, 576. 53 3, 885 26 1390 58 9, 575a 93 104, 792, 45 5, 6890 51 10, 566, 05 102, 21
900, 000, 00
339, 840, 50 170. 00
70, 230. 07 9, 936. 89
4, 391, 000, 00 154, 000. 00 436, 000. 00
1, 524, 313. b0
180, 440. 45
21, 370, 29 5, 4�5. 38 4810 58 13, 754. 06 $5, 921, 602. 08 $179, 9400 22 90, 5370 20 $1, 534, 250, 49 102. 21 -0- $760, 9b9. 92
$143, 4240 19 10, 220. 03 313, 384, 67 12, 445. 59 23, 251. 73
28 71 15 138 453.54
I I, 5,5 ,9
2, 975, 870. 32
31, 871. 52 6, 098, 88 240, 966, 84 12, 582. O1
$143, 424. 19 10, 220. 03 31, 871. 52 6, 098 88 554, 351, 51 12, 4450 59 $5, 552, 222. 88 -0- I2 582o O1 $3, 114, 323. 86 -0-
$164, 7940 48 15, 645,.41_.___�_32, 353. 10 19, 852. 94 $6, 475, 3850,81 642, 76_0 08 $1, 534, 250 49 6840 22 $3, 114 0, 969 92
323. 8
(See notes to financial statements�
This statement is an inte ral part of report dated March 27, 1961
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Exh�ibit 2
Villa�e of Brookl.yn �enter
General Fund
BALANCE SHEET
Decexnber 31, I960 I
ASSETS
As.sets
Ca.sh on hand and-in clepositories $102, 86�. 8$
Investe•d xn investment trust fund 6, 421. 88
Retu:rned checks on hanci :64. 50
Cash he.ld by County Treasurer's office 3, 943.36
Due from other funds 35 496 93
Taxes receivable:
Real estate and personal property taxes:
Levied in 1959, collectible in 19b0 $3, Z12.63
Priox years tax levies 2, 635. 84 5, ?48. 47
Spec�.a1 levies assignable to genera� fund $-0. 52 5, 828
Inventory of rnatexials and supplies:
Materials 6, 519.95
Small tools 655.99 10, ].75.94
Totals $1b4, ?94.48
�IABILITIES, RESERVES AND SU�PLUS
Liabilities
I Vouchers pa,yable 12, 274. 15
Accrued payrall to December 31 1960 5 �9• �1
Llue to Qther funds 1, 5?6. 53
T o�al Liabilitie.� 21, 3 7 U. 29
Surplus
Surplus reservess.
Ftes�rve fo� 1960 budget encurnbrances �6�. y�
Reserves far i�ventories, impre�st cash and
cha�.ge funds 22, 425. 94
°S�ota1 Surp�..us Reserves 22, 589. 1?
Unappr�opriated surplus (Ea�hibit 3) Note 1 120, $35. 0"2
Tota,l Surplus T43 424..19
Totals $1b4, 794.48
(See notes to financial statements)
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This sta�ement is an integral part of report dated Maxch 27, 1961:.
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Exhibit 3
Villa�e of Brooklyn Center
General Fund
ANALYSIS OF 'CHANGES IN UNAPPRQPRiAT'ED SZJR.PLUS
Year 1960
A ctual
Budget C?ver (Under`)
Actual Es;ti.rnate �'���a��
Un�.ppxopra.ated Surplus,
January 1, 1960 $154, 029. 09 $154, 029� 4�
Adcle Revenue {E'�.ibit 4) 522, 22b.20 449, 24�.29 $72,,981.91
'I`ota�l B�fia.rice and Additions $676, 255. 29 $603, 273. 38 =$72, 981.91
Dedu�t°
Appro�aria,tion expend�.tures
(Fxhib�.t 5) $545, 493. fi5 $495, 7130 81 �49a 7790 84
'-Eneuxnbrances 163, 23 �630 23
Adda�.ans to �eserves for asse��
set asgcie for parta.cular uses 9, 763, 39 9, '7b3, 39
°Ta�a.l Deductions $555 42Q. 27 $495, '713, 81 $59, 706. 46
o p i1�8.,.
Unappropriat�d Su p a
December 31, ��1960 $124, 835, 02 $147, 559e 57 $13 275, 45
��ee accompanying notes to finan.cial statc:ments�
This statement ir an in��gral �art af repoxt dated M�,rch 2?, 19610
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Exhibit 4
Village of Broaklyn Center
General Fund
STATEMENT QF REVENUE
Yeax 19b0
Aetu�al
Budget Over (Underj
Acttxal Estirna,te E_stimate
Taxes
"Tax�� on rea,l �s�ate and pers;on�.l property $285, 882. 2b
Sha.re of State cigaret�e and liquor taxes I0, 972 05
Special l�vy 1958'mprovernent Fund Note 2 q, 30O UO
Mo��gage registr�r taxes 4, 636� 95
Penalt�es and interes.t on cielinquenx taxes 3, 539, 28
Sha�e of mobile home registry tax 126.52
°Total Taxes $314, 457. t?b $307, 698. 9Q 6, 758. 16
Lic�n�:e� P�rmi�s and Fines
Bu�.�.d3ng g�;xrnzts 14, 194 19
F°in�s 14, I18, 16
Sevva_ge and water permits 5, 420, 00
El�c�r�c�:l pe�mits 4:, 834, 30
Plumb�.ng perma.ts 4, 6'29. 50
Hea�ing p��mits 4, 424, 05
Dog l�.censes and gound fees 3, 094g 54
Bicycl� 1�censes I, 190 50
Plt�tnbing li.censes 1 010, 00
Electrical l�:cense� ??7, 75
Ge�t�.fic�.tes of occupancy 701, t?0
H�ating lacens€s 680, �0
Zaning charges and -spec�.al pe�°mxt� 599. 25-
Wa.ter sof�ener-- pex°m��s 5350 50
Cigarett� licenses 435.60
W'�:11 drgllex° licens�� 345 00
Well p��°mi�s 325, 00
Service s�atian licens:es 304, 45
t Ge�spool cleani.ng perm�ts 3-03. 00
Ce��pool cleaning and=inst�.11ing licenses 2.85, 00
B,a�r➢.�ng a.11�y la.censes 244.00
Ga�bage and �ubbish h.�,ulirig licenses 120.00
V'enclar�g truck _a�aerata�ons license 75, Oa
Ma,lt off sa�� Ii.c�nse� 5p.00
Hou�e mov�ng license 25, QO
Ta�,xacab licenser 2U, 00
B�ngo lzcense� 1:5.OQ
T'ot�.l' Lacense�s, Pexm�ts :and FYnes 58, 751. 75 59, �GT. ti 1, 115, 25)
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Exhibi't Cont'd'.
Village of Brooklyn Genter
General Fund
STATEA�CENT 'OF REVENtJE
Year 1960
L
A ctual
Budg,et (Under)�ver
Actual Estimate Estimate
Gha��es for Curren.t Servic�
R.ecreation transportation, registx°ation
and gale of sundrxes 3, 678. 39
Equapment use l, 523. 66
As�:es�m�n� sea�ches and map sales 909.94
Flatting fe�s 353. 00
Worlc orsier chaxges to cantractors 21b. 13
`I'ota,l Char�es �+ar Current Servaces 6, 681. 12 3, b78, 39 3, 002. 73
Chax°�es to C)the� Governm�nt�.l Uiaits
Eng7n�e:r�tng fees 'T9, 431. 73
Clerical f�es 18, 051, 1?
Equipment use and 'rnil�age cha.rg�s 15, 195. 31
Expen�e r�unbursernents IiquDx° fund 732.10
'Total Ghar��s to C)ther Governmental
Un�ts $113, 41 U. 31 53, 000. 40 $60, 410. 31
ather
In�er�st on �emparax°� anvestments 2, 73$. 17
Fo�°fei�ed c4ntxactor depos�.ts ?95« 00
B�c�rcie a:uc�on 66, �0
R��scellaneous revenue, ha.11 xent, garnish-
m�nt fees, �ale of scrap, filing fees, etc. 351. �9
Cash shart 25.2�)
To�.l C►ther 3, 925. 96 3, 925. 96
°Tran.�afer� In
I�uxueipa,l. liquor fund $.2'5, 000. i�0 25, O(�U. Q0
°T�ot�.1 Re��nt�.e $522, 22fa.20 $449 244, 29 _�7�,98i,
(vee acc+arnpanying notes tQ financial stat�ments)
Tl�i� statemen� is an irits r'al axt of re ort: da,teci A�iarch 27 1961.
g P P
11
Exhibit 5
Village of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES APPROPRIATIONS AND ENCUMBRANGES
Year 19b0
1960 Budget Appropriations Expenditures and Encumbrances �Over Expended)
Original Budget Final 1960 1960 December 3I 1960 Under Expended
Budget 1960 Revisions Appropriations Expenditures Encumbrances Appropriations
General Government
Mayor, Council and Treasurer 14, 4300 00 14, 4300 00 10, 932, 93 3, 497 0?
Elections and voter registration 5� 250, 00 5 250, 00 6, 330. 21 1, 080, 21)
Finance Municipal Clerk 53, 210 00 232, 25� 52, 977. 75 55p 646, ?5 2 669 00�
Assessor 6, 550, 00 6, 550 00 6, 4520 20 97, 80
Accounting and internal auditing 1$, 670. 00 18, 6700 00 14 4890 25 4, I80, 75
Independent accounting and auditing 1, 500 00 1, 500o OQ 5 350, 00 3p 850, 00)
Legal 3, 200. 00 3, 200, 00 3p 929. 65 729a 65)
General governxnent buildings 12, 400p 00 29, 588 74 41, 988. 74 52, 562. 38 10, 573. 64�
Total General Government $115, 210„ 00 $29� 356p 49 $144, 566. 49 $155, 693. 37 11, 126. 88�
Public Safety and Welfare
Police protection 63, 199. 00 63 1990 00 71, 596 87 70. 63 8, 468. 50D
Fire protection 14, 671 40 14, 671.4Q 15, 158. 92 487 52D
Protective inspection 33, 793. 00 33, 793. 00 34, 168, 57 375. 57�
Civil defense 2, 615. 00 2, b15. 00 1, 981, 78 633. 22
Nursing services 2, 020. UO 2, Q20. 00 6, 075. 50 4, 055. 50�
Animal control 1, 100. 00 1, 100. 00 1, 771. 71 671. 71�
Total Pu'olic Safety and Welfare $117, 398. 40 $117, 398. 40 $130, 753. 35 70 63 13, 425. 58�
Highways
Engineering 43, 167, 50 43, 167. 50 53, 352, 54 10, I85. 04�
Street 114, 388. 00 2, 4070 42) 111, 980, 58 116 044, 90 73. 75 4, 138. 07�
Equipment maintenance shop 31, 760. 00 Q 127, 55p 31, 632. 45 37, 979. 49 bp 347. 04�
Street lighting 16, 500. 00 16, 500, 00 19, 438. 47 2, 938. 47)
Total Highways $205, 815. 50 2, 5349 97) $203, 280. 53 $226, 815, 40 730 75 23, 608. 62)
Recreation
Supervision of recreation 4, 625. OQ 4, 625, 00 5, 281.. 04 18. 85 674. 89�
Adult programs 175.00 175. 00 180.40 5.40�
Summer playgrounds 5, 240. 00 5, 240. 00 5, 546. 86 306,. 86)
Summer sports 3, 200. 00 3, 6780 39 6, 878. 39 5, 288. 21 1, 590. 18
Fall and winter sports 2, 655. 00 2, 655. 00 3, 5400 02 885. 02)
Special appropriation to Park Board Fund 10, 895. 00 10, 895. 00 12, 395. 00 1, 500. 00�
Total Recreation 26, 790 00 3, 678 39 30, 468 39 32, 231. 53 180 85 1, 781. 99) II
Grand Tot�l $465, 213. 90 __$30, 4990 91 $495, 7I3 81 $545, 493, 65 163. 23 $49, 943. 07
See accom an 'n �otes to financial statements)
P Y g
This ���tement is an integral part of report dated March 27, 1961.
12
Village of Brooklyn Center
General Fund
STATEMENT OF EXPENDITURES CLASSIFIED BY
E;4hi�it 6
FUNCTION ACTIVITY� CHARACTER AND OBJECT
Year 1960
Total Total Current Expense Classification Total
Encumbrances Current Personal Contractual Capital Outlay Capital Outlay Classification
Expenditures Expense Services Services Commodities Other Expenditures Larari B,�il�ii�gs Equipment
General Governrrxent
Mayor, Council ar�d Treasurer 10, 932, 93 10, 932, 93 7, 8880 00 1, 989a 00 1, 055, 93
Elections a�d voter registration 6, 3300 21 2, 523, 81 2, 330. 68 193, 13 3, �06. 40 3, 806. 4�
Finance- Municipal Clerk 55 646 75 53 727 58 36, 174. 16 8 988 39 5, 701, 89 2 863, 14 I, 9190 17 1, g19. 17
Assessor 6, 452. 20 6 394, 85 6, 39�0 85 570 35 57 35
Accounting and internal
auditing 14, 489. 25 14, 272. 95 14, 014a 75 240, 20 18 00 2160 30 216. 30
Independent accounting and
auditing 5, 3500 00 5, 350 00 5, 350 00
Legal 3, 9290 65 3, 9290 65 3 929, b5
General government buildings 52, 562. 38 17, 179p 14 8, 9440 20 6, 4390 18 1, 795. 76 35, 383, 24 7, 170, 25 $28, 2120 99
Total General Government $155, 693, 37 $114, 310, 91 85, 026 29 $17, 416 57 737, 85 4, 130, 20 $41, 382, 46 7, 170, 25 $28, 212 99 5, 999. 22
Public Safety and Welfare
Police protection 71 667 50 64, 4490 08 57, 458 87 4, 788a 09 2, 202, 12 7, 218, 42 7, 218 42
Fire protection 15, 158. 92 9, 732. 06 6, 9150 20 1, 049a 71 1, 4790 65 287. 50 5, 426, 86 5, 426. 86
Protective inspection 34, 168, 5? 33 666 42 31, 2270 98 2, 3390 85 98 59 502, 15 502. 15
Civil defense 1, 981, 78 1, 5590 81 1, 2130 82 216, 36 1290 63 421, 97 4210 9?
Nursing services 6, 075. 50 6, 075. 50 6, 075a 50
Animal control 1, 771. 71 1, ?71, 71 1, 771 71
Total Public Safety and Welfare $130, 823. 9g $117, 254. 58 $104, 6630 08 3 605, 92 6 3970 37 2, 588. 21 $13, 5690 40 $13 569. 40
Highways
Engineering 53, 352. 54 51, 504, 76 49, 104. 57 3410 98 2p 038, 2I 20, 00 1, 847. 78 1, 847, 78
Street 11 b, 118. 65 $8, 814, 26 46, 3340 44 41, 7340 82 7450 00 27, 3040 39 27, 304, 39
Equipment maintenance shop 37 979 49 37, 238. 41 21, 488 97 6840 50 15, 064. 94 741 08 741 08
Street lighting 19, 438. 47 19, 438, 47 19, 438a 47
Total Highways $226, 8890 15 $196, 995 90 $116 9270 98 $20 464. 95 $58, 8370 97 ?650 00 $29, g93. 25 $29, 893. 25
Recreation
Supervision of recreation 5, 2990 89 5, 179a 89 4, 4650 20 4840 45 208, 28 21 96 120, 00
t Adult programs 180 40 180. 40 1790 00 1, 40
Summer playgrounds 5, 546 86 5, 546. 86 4, 659. 82 8870 04
Sumzner sports 5, 288. 21 5, 288 21 2, 379p 45 2, 908 76
Fall and winter sports 3, 540. 02 3, 540, 02 3, 313, 50 226 52
Special appropriation to Park Board Fund 12, 395. 00 12, 395. 00 12, 395. 00
Total Recreation 32, 250 38 32 I30, 38 14, 9960 97 4840 45 4, 232. 00 $12, 416 96 120. 00 120. 00
Grand Total $545, 656. 88 $460, 691. 77 $321, 614. 32 $41, 971, 89 $77, 205. 19 $19, 900, 37 $84, 965a 11 7, 170. 25 $28, 2124 99 $49, 581. 8?
�See accompanying notes to financial statements)
1 This statement is an integral part of report dated March 27, 1961,
I -13-
Exhibit 7
Village of Braoklyn �eriter
Special Revenue Funds
�QMBINED BALANCE SHEET
Decernber 31, 19b0
Park
Combined $oaxd Poor
Total Fund Fu�.d
ASSETS
Assets
Cash on hand and in depositories $14, 770,13 8, 161. 27 6, 608. 86
Cash held by'County Treasurer's office 208.9� 145, 2'5 63. 7Q
Due frorn �xher funds 66. 50 b6 50
Taxes receivable:
Rea,l estate and personal property taxes:
Levied i�n 1959, collectxble in 1960 35b.33 247.23 109, Iq
1 Prior years tax levies 243.5Q 155.79 87.71
Totals $15, 645.41 8, 7T6. 04 6, 869. 37
1
LIABILTTLES AND SURPLUS
Liabilities
�Touch��� payable 1, 540.12 5$4. 24 955. $8
Du:e to other funds 885. 26 3, 885, 2�i
Tot.a1 Liabalitie� 5, 425. 38 4, 469. 50 955, 88
Surpl�zs
Surplus reserves:
Reserve for pe�ty cash fund 20. 00 2U. t�0
Una.ppropriated �urplus (Exhibit 8) 1,0, ZOA. 03 4; 28f�. 54 5, 913. 49
Totals $15, 645.4I 8, 776. 04 6, 86 9.37
�c s�
(See accompanying notes to financial stat�ments)
This staternent is �.n in�egral part af repart d�,t�d Iutarch 27, 196�..
14
Exhibit 8.
Villa�e of Brooklyn Center
Special Revenue Funds
ANALYSIS :OF CHANGES IN UNAPPROPRIATED SURPLUS (COMBINED)
Year 1960
P a.rk
��arnb%ned B�ard Paor
Total Fun� Fund
Unappr�opr�.ater� Surplus, January 1, 1960 $11, 3?Q. 79 3, 636. 67 ?34, 12
Add: Revenues QExhibits 9 and 12) 4D, 667 .97 33, 328. 65 7, 339. 32
Tota1 Balance and Additions $52, 038 76 36 965. 32 15 073 44
Deduct: Ex�aenditures (Exhibits 10 and 12) 41, 838.73 32, 678. 78 q, 1,59.95
Unappropriated Surplus, Deeember 31, 1960 $10, 200. 03 4, 286. 54 5, 913, 49
(See accampanying notes to financial statern:ents)
i
1
1
This �tateranent is an in��gral �art of repc�r� dated Maxch 27, I961,
15 m
E�iibit 9
Village of Brooklyn �enter
Park Board Fund (A Special Revenue Fund)
STATEMENT OF RE�TENUE
Year 1960
1 Actual
Budget �ver (Under)
Actua,l Esti�n,ate E�t�mat'e
General property �ax�special ad valarem
Ievy $16, 19b.20 $16, 100. 00 96. 2Q
Rents 2, 66U. QO 2, 820. 00 160. t}0}
Concessions 2, Ob0.44 2, U60. 44
Miscellaneous 17.0� 17, 01
Special appropria�ions received from
general fund:
1, General aperational needs $5, 395. QCl
2e To meet park share �f current
yeaar special assessrnent
levie� on park properties 5, 500, 00
3, Addixional transfer for
payment �af wa.ter biJ,ls to
Public Util�ties .Fund 1, 500 00 12, 395. d0 12, 395. QU
T ota1 Revenues $33 328.65 $31, 315. 00 2, U13.,65
1
(S�e notes :to financial statemen�s)
1
Thir statement is an integraJ. part of repo�t dated Ma.rch 27, 1961
16
Exhibit 10
Village of Brooklyn Center
Park Board Fund (A Special Revenue Fund)
STATEMENT OF EXPENDITURES, APPROPRIATIONS AND ENCUMBRANCES
Year 1960
1960 Bud�et Appropriations Expenditures and Encuxnbrances (Over Expendedj
Function Original Budget Final 1960 1960 Dec, 31, 1960 Under Expended
Budget 1960 Revisions Appropriations Expenditures Encumbrances Appropriations
I General park administration
General park maintenance $17, 870 00 1, 500, 00 $19, 370. 00 $21 572, 90 2, 202 90�
Park garage 9� 450, 00 9, 450. 00 8, 048, 05 1, 401 95
Special facilities: 350 00 3500 00 5980 89 248 89�
Southeast Park
Triangle Park 150 00 150. 00 41 99 108 O1
Rice Park 175. 00 175. 00 268. 95 930 95�
Northport Park 225a 00 225, 00 I29. 46 95 54
Poplar Lane Park 900, 00 900. 00 1, 076. 85 4 176 85�
Garden City Park 350 00 35, 00 26. 22 8 78
Willow Lane Park 3500 00 350. 00 345a 19 4 81
Wangstad Park 250 00 50 00 300. 00 2860 78 13. 22
Northeast Park 50e 00 4 50, 00)
Donnay Park 5, 00 5. 00 37. 86 32, 86�
5„ 00 5, 00 245. 64 240, 64)
T otal
$29, 815 00 1, 500 00 $31, 315a 00 $32, 678. 78 -0- 1, 363, 78�
(See notes to financial statements) I
I
I I
This statement is an integral part of report dated March 27, 1961
-1?-
Village of Brooklyn Center Exlai��it 11
Park Board Fund (A Special Revenue Fund)
STATEMENT OF EXPENDITUR.ES
CLASSIFIED BY ACTIVIT�'', CHARACTER AND OBJECT
Year 1960
Total Current Expense Classification Total Capital Outlay Classification
Total Current Personal Contractual Capital Outlay Land
Expenditures Expense Services Services Commodities Other Expenditures Improvements Buildings Equipment
General park administration $21, 572 90 $21, 0650 26 $17, 5750 58 1, 388 41 23, 71 2, 0770 56 5070 64 507. 6�:
General park maintenance 8, 048, 05 2, 259a 31 1, 505, 9g 753, 33 5, 788, 74 5, 360, 74 428, t��
Park garage 598. g9 59g. 89 592 34 6. 55
Special facilities:
Southeast Park 41 99 41a 99 25, 76 16. 23
Triangle Park 268. 95 268, 95 112 95 1560 00
Rice Park 1290 46 1290 46 97. 73 31, 73
Northport Park 1, 076, 85 451 16 241. 09 210 07 625. 69 192. 00 433. 69
Poplar Lane Park 26, 22 26a 22 13, 33 12, 89
Garden City Park 345, 19 345, 19 182. 49 162, ?0
Willow Lane Park 286. 78 259a 28 242a 72 16. 56 27. 50 27, 50
Wangstad Park -0- -0- -0-
I Northeast Park 37. 86 37. 86 37. 86
Donnay Park 245:.b4 5 64 50 64 240. 00 240. 00
Total $32, 678. 78 $25, 489. 21 $17, 575. 58 2, 9 40 0 32 2, 142 42 2, 830, 8 7, 189. 5 $�5, 792_ 27_50 1, 3 69. 33
(See accompanying notes to financial statements)
1
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I
I
This statem nt is an integral part of report dated March 27 1961
f
E�hibit 12
Villa�e of Brookl�n Center
Poor Fund (A Special Revenue Fun.d)
STATEMENT OF REVENUE AND EXPENDITURES
Year 1960
R even.0 e
General prop�rty tax special ad valorern levy 7, 145. 38
Relief grants 193.94
Total Ftevenue 7:, �39. 32
Expenditures
I Subsistence care and support payments 8, 248. 19
Professianal and consultants° fees 905.30 I
Prov�.sion for write off of 1954 tax levy balance b.46
Tota1 Expenditures 9, 159. 95
Excess of Exper�di�ures over Revenue 1, 820, b3
(See accompanying notes to financial statern�nts)
1
1
I
t
Tlais statement is an integral part af report d�ted March 27, 1q61.
_iq_
1 -Exhibit 13
Village of Brooklyn Center
Park BoMd Fund
BALANCE SH�E'T'
December 31, 1960
ASSETS
Ca�h on hand and in deposi�c��ie� 6 b89 53
Inv�sted ir3 investxnent trust fund 25, �i63. 57
Total $32, 353. �.0
r
LIABILITIES AND SURPLUS
Lia.bil%tie s
Vouchers payable 342. Q0
I Due to other funds 7. �9. 58
To�al Liabil�tie� 481 58
Gontingent- Iiability Note 3
Surplu�
Reserve far au�horized expenditures (See Exhi.bit 15) 31, 87I 52
Tatal $32, 353. 10
(See accornpanying notes to financial statements)
i
Tha.s sta,tem�nt is an in�egral pa,�t of report dated March z7, 1q61.
20
F�hibit 14 I
Villa�e--of Broaklyn Center
Park Bond Fu.nd
STATEI�2ENT C3F R.EV'ENUES A.ND EXP'ENDITL7RE5
Year 1q60
Revenue (Reta.�.neci in func� for purposes of park acquisitionsJ
Received from 4s�eo school district to eover s.hare of
i gracting i.rnpro�ement an �Yillow Lane Park extenda.ng
onto schaol groper�y 2, 500. 00
Interest earned on �emparary cash surglus inve�ted
dur�ng the year with the Investment Trust Fund 663.57
T�tal Re�enue c�f Year 19b0 3, 163. 57
.Expenditures (Farr park develc�prn.ent azid acquisitic�n)
T�iangle Park $4b, 225, 36
South.east Park 4 963 .98
Northeast Park 4, ?15. 73
Northport Park 1, 984. 54
�i11aw Lar�e Park I, 536. 29
Rice �ark 1, �43. 87
Cost of issuing $100, OOO general obligation park b�nds 1, UlI,4?5
Poplar Lane Pa.rk 8b4. 85
South Creek Park 15�,.25
Garden City Park 5.85)
T�ta1 Ex enditures af Year 1960 $62, 4910 ?`T
P
(See accornpanying motes to financial statements)
1
1
1
°Tlais �tatement is an integral part of report dated March 27, 1961�
2I
Exhibit 15
Yillage of Brooklyn Center
Park Bond Fund
STAT�MENT 4F E�PENDITURES COMPARED �VITH APPROPRIATIONS
Years 1958, 1959 and 1960
I
Arnount apprapriated for the pur:pose of acquirin:g and
developing park properties:
Re'serve for authorized expenditures (apprt�priatic�ns):
1 F� sale of eneral obli ation bonds
a c�m g. g .$4Q4, 000. 00
2. Revenue credited to appropriation
Year 1960 (Ses. Exhibit 14) 3, 163. 5?
Tata1 Am�ount Agpropriated $403, 163. 57
Less: E�enditures
Year 1958 $�,9�, 4630 47
Year 1959 11T, 3364 81
Year 1960 (See-Exhibit' 14) 62, 491. ?7
Tot�l-Expenditures 371, 29�0 05
1
I Net Balance Reserve for Authorized Expenditures
December 31, 196Q 31, 871.52
See accarn an 'n notes to fina�:ei�,l statements
P 3' g
i
This s�ate�ent is an integral part of repa�t dated March 27, 1961.
22
Exhibit 16
Vsllage of Brooklyn Center
Debt Service F°ur�ds
COIVIBINED BALANCE SHEET
December 31, 1960
Ft,edemptiqn Fun;ds
Combined Park Certificates af S�ate
Total Bonds Ind�btedness L�an
A5�ETS
Cash on hand and in d�posities $17, Q20. 61 $12, 838.86 4, 1$1. 75
Invested'in investrnent
trustfund
G�..sh held by Gounty I
Treasurer'� office 1, 680, 47 '2I6.99 �'34. 81 1, 228. 67
Due from other funds 11. 36 11, 36
Taxes �°eceivable:
Real estate and persanal
property taxes:
Levied in 1959 collectible
in 1960 789. 40 392. 90 396, 50
Prior years tax levie$ 351. 10 120. 18 230, 92
Totals 19 852a 94 13 568Q 93 5, 055. 34 l 228. 6?
9 9
I>�.. -,...,i...
L�ABII.,YTIES 8NU ��SURPLLdS
Lfabilitieso
Due to other funds 9 575.93 9, 575093
Acc�u�d intere:�t payable 4, 178, 13 1Z$, 13
Total Liabilities $13, 754. 06 :$13, 754. 06
Surplus �DefieitD:
Unappropriated surplus
�Se� Exhibit 1?) 6 098 88 Q 185. 13� 5 055, �4 1, 228, 67
To�als $19 852, 94 $13� 5fi8.93 5 055. 34 1, 228,__
(See accomparaying notes to financaal sta�ements)
1
1
t
Thss st�.tement i� an in�egral part of rept�rt dated March 27, 1961.
23 m
Exhibit 1
�Tillage of Brooklyn Cemter
Debt Serv�ce F°unds
CC�MBINED STATEMENT OF REZTENUE� EXPEIV,IJITITR.ES AND SU'RPLUS
Year 1960
Redemption Funds'
Combined Park Certa.ficates of State
Total Bond� Indebtedness Loan
Una�propx°iated Surplus
Janua�y 1 1960 5, 1750 41 164. 05 3 ?63. 25 248. 11
Addo R�venue
General px°o�erty tax
levies 53, 642 18 25, 914.53 2b, 114. 59 1, b13. Ob
Total B�.lance and Additions $S8 817, 59 $26 07�. 58 $29, 877 84 2, 861, 17
�I Deduct: Expenditur�s
Debt retirement $34 3000 00 $10 000, 00. $23, Q00, 00 1, 3OU, 00
Interest expense 18 3660 88 16 Zll 88 1, 822. 50 3320 54
Ser�ri.ce charges 51, 83 51, 83
Total Expe�xditures $5�8 ?18, 7I $Zb, 263, ?I $24, 822 50 T, 632a 50
Unapprc�priat�d Surpbus(Deficit)
D�cem b...
er 31 a 196Q b 098, 88 185. 13) 5, 455, 34 1, 228. b7
(Se� accomp�.nying notes to finaricial statements)
This stat�mer�t a.� �.r� in��g�al part of x°eport cl�,ted Mareh 27, 1�61
-24-
I
I
Combine d
T otals Storm
Assets All Funds Sewer #1
Cash on hand and in bank 276, 484. 23 8, 769. 39
Temporary investments I, 384, 296, 88 35, 550, 25
Due from other funds 89, 200. 15 3, 74
Cash held by County Treasurer's office 4, 008.41 169. 77
Taxes receivable 360.82
Assessments receivableo
1959 levy collectible in 1960 (principal and interest� 17, 3I l 90 372, 13
Delinquent (principal and interest) 11, 048, 33 175, 21
Deferred (principal only) 3, 067, 883. 47 126, 2830 92
From Park General Fund 78, 061. 84 9, 878, ?4
From General Fund 22, 550, 03
Contract with University of Minnesota 330, 961.4I
General Village sha.re-future taxation (principal only} 328, 157, 77
Cash held by paying agents for debt and interest 339, 840.50 19, 360. t30
Unassessed construction 525a 787, 85
Totals $6, 475, 9 53. 59 $20A, 5b3 1 5
Liabilities T
Vouchers payable 3, 276. 39
Rebates payable 648 49
Contracts payable 143, 301, 03
Accrued expenses (interest) 38, 743. 22
Due to other funds 104, 792. 45 1,, 6990 9a
Gonstruction Ioans payable 900, 000, 00
Bonds and interest unredeemed from paying agent 339, 840 50 19, 360. 00
Bonds payable 4, 391, 000, 00 176, 000, 00
Total Liabilities $5, 921, 602. 08 $197, 059. 9�
Surplus and Appropriation Balances
Unappropriated surplus (deficit) interest 3I3, 384, 6? 3, 503, 25
Unexpended apprapriations and authorizaLions 240, 96b. 84
Tota.ls $6, 475, 953. 59 $200,_ 5630 15
e
i
Village of Brooklyn Center Exhibit 18
Special Assessment Funds
I' COMBINED BALANCE SHEET
December 31, 1960
Sanitary
Sewer #1 1953 AB 1954 A 1954 C� 1955 A 1956 AC 19�6 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB
l, 175, 19 1, 088, 45j 738. 81 216. 41) 16, 483. 93 38, ?37. 94 14, 440 81 20, 7020 96 19, 355, 03 12, 191. 94 36, 456. 54 108, 736. 55
11, 401. 36 4, 292„ 75 126, 822, 96 412, 665, 97 148, 448 09 472, 206, 04 35, 189, 81 136, 889. 38 829. 47
497. 6I 96, 99 37. 50 883. 84 4550 65 31, 028 48 35, 119. 32 701, 76 2, 247. 81 18,, 127. 45
12. 34 24, 45 69 31 26. 69 279. 91 738. 18 565, 40 6130 96 320. 94 9810 32 2060 14
360. 82
70, 61 37. 64 108 36 66 91 l, 485. 70 4, 175. ?1 1, 5�5, 78 2, 148, 94 4, 428, 40 1, 373, 21 1, 4980 51
75. 12 110, 47 30. 51 2, 053. 13 l, 935. 96 1, 128, 94 1, 093. 72 3, 931, 33 493, 75 20, 19
21, 093> 18 9 475, 89 10, 599. 94 2, 027. 26 125, 393. 02 382, 337. 28 102 697 28 210, 191, 6? 373, 718. 78 138, 769. 96 376, 6090 85 l, 188, 685 44
44. 97 123. 08 722. 43 12, 961, 48 2, 271 17 14, 023. 7? 3, 775, 39 27, 260, 81
411. 23 944, 09 1, b57, 25 1, 712, 97 460, 18 900. 72 485. 81 15, 977. 78
56, 038. 8I 47, 621, 12 29, 083, 33 198, 218, 15
a, 916, 2i 79, 4060 3� 239 835 i9
3, 458. 00 3, 279. 50 4, 255. 00 562. 50 37, 590. 00 82, 813. 00 51, 650, 00 71, 895, 00 38, 947. 50 2b, 030. 00
525, 787, 85
37, 285. 80 12, 271. 61 20, 271. 63 2, 658. 04 $375, 525. 78 $985, 386. 38 $362, 0790 04 $817, 955. 75 $519, 459. 07 $397, 738. 41 $661, 964. 90 $2, 082, 794. 03
f—
3� 276. 39
379.92 268.57
143, 301. 03
3, 700. 00 26, 321, 22 8, 722. 00
14. 54 3. 74 15, 532. 44 34, 102, 50 30, 189. 25 Z, 453, 05 5, 367. 07 15, 429. 96
900, 000. 00
I� 3, 458. 00 3, 279. 50 4, 255„ 00 562. 50 37, 590. 00 82, 813. 00 51, 650. 00 71, 895, 00 38, 947. 50 26, 030. 00
26, 000. 00 14, 000, 00 13, 000. 00 2, 000, 00 2??, 000. 00 805, 004. 00 250, 000. 00 615, 000, 00 465, 000. 00 350, OOO 00 630, 000. 00 768, 000. 00
29, 472. 54 17, 279. 50 17, 255. 00 2,, 562. 50 $314, 973. 66 $903, 614. O1 $339, 4520 50 $717, 084. 25 $506, 400. 55 $376, 030, 00 $661, 688. 29 $1, 838, 729. 38
7, 813. 26 5, 007. 89) 3, 016, 63 95. 54 60, 552. 12 83, 376. ?9 22, 626. 54 100, 871 50 13, 058. 52 22, 590. 36 276, 61 611.44
1, 604, 42) 881 95) 243, 453 21
37, 285. 80 12, 271. 61 20, 271. 63 2, 658. 04 $375, 525. 78 $985, 386. 38 $362, OZ9. 04 $817, 955, 75 $5I9, 459. 07 $397, ?38, 41 $661, 964. 90 $2, 082, 794, 03
(See notes to financial statements"� r
This statement is an inte ral art of re ort dated March 27 1 61
P�' P P a 9
25
i
1
car�.�an��
TataR
AlI Funds
Unappropriated Surplus (Deficit} Interest, January 1, 1g60 �273 4p4, q2
Add: Revenue during 1960
I Interest income on current levy $134, 915. 76
Income from t rr;
e porary investments 52, 438. �9
Unused construction appropriations transferred in 7p 040, 97
Excess resulting from additional authorized levies 4, 972 9b
Sale of used water tank l, 500. 00
Excess resulting frorra revised construction contract 80, 00
Total Revenue $200, 948, 58
Deducte Expenditures during I960
Interest expense $149, 032, 17
Transfer to construction a.ppropriations (see explanation) 8, 584. 2b
Abatement 8360 40
Ro11 charges 7130 30
Paying agent charges 6680 03
Legal fees for financing issue 650 00
Reb.ates 2680 57
Correction of certified levies 201. 10
Right of way land easement 150 00
Total Expenditures $160, 968 83
kJnappropriated Surplus (Deficit) Interest
December 31, 1960 $313 384 67
Village of Brooklyn Center
Special Assessment Funds
COMBINED STATEMENT OF UNAPPROPRIATED SURPLUS INTEREST Exhibit 19
Year 1960
Storm Sanitary
Sewer #1 Sewer 1953 AB 1954 A 1954 C 1955 A 1956 AC 1956 B 1957 AB 1958 A 1958 B 1959 AB 1960 AB
1, 471, 73 7, 218, 05 $(5, 0130 38j 2, 716, 64 30. 29 $53, 501, 61 $69, 856. 97 $17, 290, 82 94, 971. 27 3, 479. 92} $28 665 76 6, 175. 08 -0-
7, 392, 67 1, 147, 69 588 34 582. 27 142, 73 $12 661 0� $27, 668 06 9, 474. �4 17, 302. 66 $26, 700. 85 9 699 83 $18, 5990 24 2, 955, 70
1, 5250 64 401, 36 248, 37 4, b12. 88 15, 061, 15 5, 725. 47 17, 391. 30 1, 689. 81 4, 953. 44 829. 47
7, 040. 97
4,972.96
1, 500. 00
80. 00
8, 91�. 31 1, 5490 05 588 34 830..64 142, 73 $17, 273. 96 $47, 702. 17 $16, 780, I1 34, 693 96 $35 431. 63 $14, 6530 27 $19, 428. 71 2, 955. 70
6, 720. 00 916. 00 559. 00 510. 00 62, 50 $I0, 042, 50 $33, 4?2, 50 $10, 697. 78 28, 457, 50 $17, 895. 00 $12, 060 00 $25, 295. 13 2, 344, 26
8, 584, 26
836 40
65. 20 10. 40 8 10 3, 65 4 35 115, 85 276, 35 25. 85 770 70 64. 55 290 25 32. 05
36. 80 9. 75 15. 75 17. 00 10, 63 65 10 164. 93 ?0, ?6 1390 91 82, 24 55, 16
650. 00
268. 57
64. 79 17. 69 118 62
15. 0 0
6, 886. 79 9530 84 582. 85 530. 65 77, 48 $10, 223. 45 $34, 182, 35 $11, 444. 39 28, 7930 73 $18, 893. 19 $20, 728. 67 $25, 327. 18 2, 344. 26
3, 503 25 813, 26 __0 $13, 058,_52_ 590_36_ 276.61 611 .44
5, 007, 89) 3, 016. 63 95. 54 $60, 552. 12 $83, 376, 79 $22, 62b. 54 $100, 5__
Explanation: 'I
It is the policy of the governing body of the Village to transfer any residual balances of
construction monies (unused construction appropriations} to principal and interest surplus
when the construction phase within a fund is complete,
The residue of monies available for construction was closed to unappropriated surplus-
interest during prior years in the 1958 B Fund, without provision for appropriating the
I� remaining costs of projects in process, The governing body took action by resolution dated
September 12, 1960, providing for these appr�priations and accordingly "unappropriated
surplus-interest" has been charged and in effect the residual construction m.onies original�y
credited ta this fund ($28, 596, 33} have been reduced by $8, 584, 26,
�See notes to financial statements}
This statement is an integral part of report dated September 12, 1960.
26
Exhibit 20
Village of Brooklyn Center
Special Assessment Funds
COMBINED STATEMENT
CONSTRUCTION EXPENDITURES COMPARED WITH APPROPRIATIONS
Year 1960
Combined
Total
All Funds 1956 AC 1958 A 1958 B 1959 AB 1960 AB
Appropriations (Original as at January 1, 1960) $3, 930, 540. 68 $1, 085, OOO 00 $530, 000, 00 $405, 337. 78 $798, 502.90 $1, l I I, 700. 00
Add: Additional appropriations during 1960 l, 280, 456. 05 8, 584, 26 1, 271, 871, 79
Total Appropriations $5, 210, 996. 73 $1, 085, 000, 00 $530, 000, 00 $413, 922. 04 $798, 502. 90 $2, 383, 571, 79
1 Deduct: Appropriation expenditures:
During year 1960 $1, 691, 443. 75 14, 322. 63 5, 365, 20 881. 95 $119 946 bl $1, 550, 927. 36
During prior years 2, 885, 508, 75 1, 072, 281, 79 517, 593. 83 413, 922. 04 581, 419, 87 300, 291, 22
$4, 576, 952. 50 $1, 086, 604.42 $522, 959. 03 $414, 803. 99 $701, 366 48 $1, 851, 218. 58
Unexpended Balance 634, 044. 23 1, 604. 42j 040. 9? 881. 95) 97, 136. 42 532, 353. 21
Deduct Appropriations discontinued
Excess of appropriations over project
costs, not assessed to benefitted
property owners 97, 136, 42 97, 136. 42
Amendments to appropriations for
projects completed by land
develo ers 288 900.00
P 288, 900, 00
Transfers of unused appropriations to
debt retirement purposes 7, 040. 97 7, 040. 97
393, 077. 39 7, 040. 97 97, 136.42 288, 900 00
Unexpended Appropriations (Deficit} December 31, 1960 240, 9b6 84 1, 604. 42) -0- 881. 95� -0- 243, 453. 21 I
1
(See notes to financial statements}
1
1
This statement is an integral part of report dated March 27, 1961,
-27-
Village of Brooklyn Center
Special Assessment Funds
STATEMENT OF LONG-TERM DEBT (PRINCIPAL AMOUNT)
Exhibit 21
December 31, 1960
Bond Redemption
Year of Total Interest Rates on Bonds Outstanding Deposits With Balance of Sonds Payable Maturity
Fund Account Issue Issue Regular Additional Payin� A�ent December 31, 1960 Dates
Storm� 5ewer #1 1952 304, 000, 00 30 50% 128, 000, 00 176, OOO 00 1-1-72
Sanitary Sev�er #1 1952 48, OOO 00 1960 3, 00°fo 22, 000, 00 3, 000. 00
1963-73 30 20% 23 000. 00 26, 000, 00
48, 000, 00 22, OOO 00 26, 000, 00 1-1-73
1953 AB 1953 30, OOO 00 3, 25% 27, 000. 00 3, 000, 00 1-1-64
1953 55, 000, 00 3. 30% 44 000, 00 11, 000, 00 1-1-69
85, 000. 00 71, 000, 00 14, 000, 00
1954 A 1954 37, OOO 00 3. 00% 24, 000, 00 13, 000, 00 1-1-65
1954 C 1954 22, 500, 00 2, 50% 20 500, 00 2, 000. 00 1-1-65
1955 A 1955 497, 000, 00 3, 25% 220 OOO 00 277, 000, 00 1-1-76
1956 AC 1956 535, 004 00 3. 75% 120, O.00o 00 415, OAO. 00 1-1-77
1956 550, 000, 00 30 90% 160, 000, 00 390, 000. 00 1-1-?7
$l, 085, 000, 00 280, 000, 00 805, 000. OA
1956 B 1958 200, 000, 00 3, 30% 150, 000. 00 50, 000, 00 1-1-62
1960 200, 000. 00 3 40% 1961-63 1, 00°jo 200, OOO 00 1-i -66
400, OOO 00 150, 000, 00 250, 000. 00
1957 AB 1957 430, 000, 00 1960-64 3.34% 90, OOO 00 90, 000. 00
1965-70 4, 00% 130, 000, 00
1971-78 4, 10% 120, 000, 00 340, 000. 00 1-1-78
1957 350, 000, 00 1961-69 4, 50% 75 000, 00 $140, 000. 00
1970-78 4 75% 135, 000. 00 275 OOO 00 1�1-?8
780, 000, 00 165, 000. 00 615, 000. 00
1g58 A 1958 530, 000. 00 1960-66 3. 10% 65, OOO 00 $140, 000. 00
1967-69 3, 60% 75, 000. 00
1970-72 3. 90% 75, 000. 00
1973-79 4 00% 175, 000. 00 465, 000. 00
530, 000. 00 b5, 000, 00 465, 000, 00 1-1-79
1958 B 1958 390, 000. oo i96o-6s 3.00% 40, o000 00 $i4o, ooa 00
1969-71 3 20% 60, 00�0, 00
1972-74 3. 50% 60, 000. 00
1975-79 30 60% 90, 000. 00 350, 000, 00
390, 000, 00 40, 000. 00 350, 000. 00 1-1 -79
1959 AB 1960 b30, 000. 00 1960-65 3a 75°jo 1960-61 1, 50% $140, 000, 00
I, 1966-69 40 00% 105 OOO 00
1969-74 4. 25% 200, OOO 00 I
1975-81 4. 50% 185, OO� 00 630, OOOp 00
630, 000. 00 630, OOO 00 1-1-81
1960 AB 1960 768, OOO 00 1960-67 4. 50% 1960-63 l 50% $288� 000. 00
1968-78 4. 20% 390, 000, 00
I' 1979-81 3. 00% 90 000, 00
768, 000, oo 768, 000, 00 1-1-81
Totals $5, 576� 500 00 $1, 185, 500. 00 $4, 391, 000. 00
(See notes to financial statements)
This statement is an integral part of report dated March 27, 1961
-28-
Exhibit 22
Villa.ge of Brooklyn Center
Municipal Liquor-�'und
I�
BALANCE SHEET
December 31, lqbfi
ASSETS
Curr n Ass
t et�
Ca.sln +on hancl and in depositorfes 47, b15.78
Ga�h �.n bank r�venue eertificate account 3,166.94
Cash on depasit with paying agent revenue
certa.ficate aecount 9, 318. 75
Returned checks ($980 18 Iess gxovision for
uncollectible i��ms -$754 29D 2� 8q
Invested in investm�;nt trust fund 46, 935. 89
Dta.e frorn ,other fund.s 88. 88
Merchandise inver��or� �valued at cost) 69 07'2.4'7
Pregaid expen�es I, 260 83
°Total �urren�-As:sets $176, €382.43
Fixed Assets Provision
for
Cc�sst- Depreciat�.�� B�c�k Valus
Fixture s and equip
men:t (Lyndale
Avenue storeD $1I, 236.. 03 $7, 58$. 65 3, 647. 38
Fixtures and equip�
rn:ent (c�sseo
Raad Store) 13, 7'39.48 1, 883. 48 1 T,:856. OQ
$24, 975 51 $9, 4?2. 13
Total Boolc Value of Fixed Assets 15, 543p 38
Total $Ig2, 3850 8I
i0'iT.C61�t•
LIABILITIES A1�ID SURPLUS
Current Liab�.lities
Accoun�s payable 15, 68� 8fi
Bond coupons unredeemed 170. QO
Due to +�ther funds 5, 689. 51
Accrued interest payable revenue certificates 4, 396. 8-5
�ertificates payable porxion clue within one year (s�e be�ow) 12, 000. 00
Ta�.l �ur�en� Liabi.lities 37, 944, 22
Lan� Term Liabiliti�s (Nat� 4)
Revenue certificates payable $154, OOQ, 00
L�s�,o Fortion du� within on� year (s�e above) 12, 0��. QO
Total Long Term Liabilities 142, f�00, 00
Total I.,iabibi�ies $179, 940, 22
Surplus
Sur�alus reserved for principal and in�ere�t (Not� 5) 12, 445. 59
Tot�l $192, 385 81
(See accompanying, notes to financsaJ. sta.t�ments)
This s�at�ment is an ir�.teg�al part of repa�� dated 1vlarch 27, 1961,
e 29
i
Exhibit 23
Villa:ge af Brooklyn Center
I►riunicipal Liquor Funci
ANALYSIS '4F CHANGES TN SUR.PLUS
Year 1960
Surplu�, January 1, I960 99, 322.48
Add: Net income (See-Exhibit 24) 52, 584. 75
Total' Balance and ,Additions $15I, 90?. 23
Deducto Items transfer�ed to other funds:
1, Tran�fers to I960 General Fund Budget -$25, OOOo OQ
2, Cost of capital outlays at �sseo Road
location not r+epresenting liquor fund
assets and accorclingly transferreci
to the Genera� Fixed Assets fund of
the Villageo
ao �ost of bua.lcl�.ng 100, 37.4, 72
b. Co�:t of land and parking lot 11, q50.94
c. Cost of furniture and fixtures
(Fire Depax°tment) 2, 195. 98
T�ta1 Transferred'ta �ther Funds 139, 46T. 64
All xestricted see Not'es) .1 ._59
Surplus, December 3I, 1960 2, 445,
(See accompanying notes to financial statements)
This statement is an int�gral part of repor� dated Ma.�ch 27, 19b1.
-30-
Vi.11a�e of Brooklyn Center Exhibit 24
Municipal Liquor Fund
STATEMENT OF INCiDME AND EXPENSE
Year 1960
Carnbined Store No. 1 Store No. 2
Total 6445 Lyndale 6250 Osseo Road
Sales $520, 924a I2 $248, 212. 11 $272, 71ti. O1
Cost of' Me�chandise 40G, 657. 08 I94, 974. Q0 211, 683. 08
Gross Margin on Sales $114, 267, 04 53, 238, I1 61, U28. 93
Deduct: 4pera.ting expenses
Salaxies and wages 39, �49. 54 20, 4?5. 45 1$, 974. 09
Publie employee retirement fund 3, 746.57 2, 090:. 52 1, 656. 45
Depreciatian 2, 652, 60 1, 133. 25 1, 519. 35
Utilixies 655, I,? 318. 30 1� 336.87
Insurance 1, 633. 39 977. 33 656. 06
Inventory variance (Note 6} 1, 348, 26 103, 17 1, 245. 09
Supplies 1, 204. 88 642.48 562.40
Heat 810 34 499. 92 31Q, 42
Audit 75U, OQ 400. 00 354. 00
Repairs anct maintenance 5630 1$ 3Q5, 5g 257. 59
Telephone 429.89 222.47 207.42
Protection service 343, 50 I26. 00 2I7. 5Q
Laundry 168. 38 122. 32 46. 06
Miscellaneous 134 b7 90 95 43. ?2
Printing and publishing T32.39 70 61 .75
Licenses and taxes 118.00 59.00 59.00
Mileage 76, 44 76. 44 n
Pro�ision, uncollectible returned checks 75. 29 52, 29 23. OQ
Ga.sh shart �5. 60 2. 75 320 85
Total fJperating,Expense 54, 928ap9 27, 36$, 8?
27, 559. 22
Qperati�g Incfline 59. 338 95 25, 8690 24 33, 469�. 7 i
Addo C)ther incoxne
Interest income on temporary invest-
ments I, d71. 88 936. 18 135. 70
Insurance recovery (Note 6� 95Q, OQ 954o QO
Check cashing fees 297. 70 244s 30 53. 4Q
Itecovery on bad cY��cks 12. �.b 12. 16
Total Qther Ynco 2, 33I..?4 1,192. 64 I, 139. 10
Deduct: +C)ther expense
In:terest' expense, revenue certificates 9, 041, 45 743. q5 8, 297. 50
Payi.ng agent charg�s 44, 49 17. 50 26. 99
Total 4ther"Expense 9, U$5, 94 761.45 8, 324a49
Net Inc�me 52 5840 75 26 300 43 6 f 84 4 f
`Y 9 .9 a 4 J G
3�
(See accompanying notes to financi�.l �t�.ternents)
This stat�m�nt, is an integral part of report dated March 2Z, 1961. I
31
Exhibit 25
Villa�e of Brooklyn Gentex
Municipab Liquor Fund
STATEMENT 'QF RECEIPTS AND E�PENDITURES
CAPITAL EXPENDITURES ACCOUNT
Yea.rs 1959 and 1960
Rec i ts
�p
Principal proeeeds of mu�icipai building
re�renue certificat�s issued during 1959 �140, 00(J, QO
Expenditures
Year Year
1959 1960 Total
Building 98, 396. 19 918, 53 .$100, 314. 72
Land and parking lot 9, 926. 18. 2, 024:0 76 1 f, 950. 94
1 Fire department furniture
and fi�ctures 1, 788. 46 407, 52 2, I95. 98
Liquor s�ore furniture and
fixtures 12, 966. 05 744. 58 13, 710. 63
M�rchandise inventory 10, 000. 00 I, 827.73 11, 827". 73
�133, 076. 88 $b, 923. I2
I
Total Expenditures I40, OdD. 00
LTnexgended Balance Available, December 31, 1964 None
(See accompanying nates to financial �katernents�
This sta�ernent is an in�egral par� of r�po�t da:ted Marc1� 27, 1961,
32 m
1
Exhibit 26
Village af Brooklyn Center
Public Utilities Fund
BALANCE SHEET
December 31, 1960
ASSETS T.TA BILYTIES
Pla�.t and Property Current Liabilities
Water Sewer
Department Department Total Vouchers payable 9, 741 OS
Due to other funds 10, 566. 05
M�.ins and lines $1, 430 251. 57 $3, 634, 163, 10 $5, 064, 4I4, 67 Customer deposits 70, 230, 07
Structures 353, 096. 85 353, 096. 85
E�uipment 251, 065, 37 4, 415, 00 255, 480,, 37 Total Current Liabilities q0, 537, 20
Total Cost $2, 034, 413. 79 $3, 638p 578 10 $5, 672, 991, 89
Less: Provided depreciation 61, 054 73 95, 838, 77 156, 893, 50
SURPLUS
Book Value, Plant and Property $1, 973, 3590 06 $3, 542, 7390 33 $5, 516, 098. 39
Contributions in Aid of Construction
Current Assets
Water Sewer
Cash on hand and in banks 25, 011. 35 Department Department
Accounts receivable customers 19 668 58 Sources of contribution:
Accounts rreceivable others 385. 26 Special assessment projects $1, 544, 745 45 $3, 266 412. 59
Accrued revenue receivable estimated unbilled sales 11, 396. 40 Contractors and land
Due from other funds 5, 349. 19 developers 355, 576. 83 362, 236. 28
Invested in investment trust (temporary investments� 60, 995, 3$
Invcntory of stores 3, 396 23 Total Contributed Surrlus $1, 900, 322, 28 �3, 628, 648. 87 5, 528, 971, 15
Prepaid expenses 459.30
126 661 69 Earned Surplus (Deficit} (See Exhibit 27�
Total Current Assets Water Deparlanent 32, 675.46
Sewer Department 9, 423. 73)
Total Earned Surplus 23, 251. ?3
Total Assets $5, 642, ?60, 08 Total Liabilities and Surplus $5, 642, 760. 08
(See accompanying notes to financial statements}
This statement is an integral part of repart dated March 27, 1961
1
33
Exhibit 27
I Village of Brooklyn Genter
Public Utilities Fund
STATEMENT �F INCOME 1a.ND EARNED SURPLUS
Year-1960
W at�r Sewex
I, Department D�partment Total
Customer billings $90, 9qq. 0? $65, 392. 82 $15b, 39I.. 89
I Sewer permits 8, 315. UO 8, 315. 00
Gustomer penalties 2, 602. 00 2, 602. 00
Interest earned from investment trust fund 497 69 497 .69 995.38
Other (sale of supplies, etc. 25I.35 425, 50 b76. 85
Gras� Opera.ting ,Revenue $91, 748. 11 $77, z33. 01 $168,981, 12
Less: Operating revenue deductions
Qperating expenses �Exhibit 28 and
,Exhibit 29) $45, 957. 41 $4�, 819, 66 89, 7?7. 07
Dep�eciation 23, 902, 14 20, 936 81 44, 838. 95
Total �perating ,Revenue Deductions $b9, 859. 55 $64, 756. 4? $134, 616 OZ
Net �ncom� $21, 888, 56 $12, 47b. 54 34, 365. 10
Earned surplus Qdeficit) January 1, 1960 10, 7$6. 90 21, 900. 27)
Eax°ned Surplus (Deficit) Decernber 31, 19b0 $32, b75. 46 9, 423. 73)
(See accompanying notes to financial statement�j
I
This statement as �,n integral part af report dated �March 27, 1961,
34
Exhibit 28
Villa.�e of Brooklyn Center
Public Utilities Fund
WATER' DEP�iRTMENT QPERATING EXP�NSES
Year 1960
Source of Su 1
PP Y
M�.�erials 7, 362. 31
Powex° 4, 839. 43
Purification supplies 3, 859. 05
Labor 2, 9730 24
I Maintenance af purn�s and equipment 1, 702. 86
Supplies 813, 6A
Equipment rental 754. 23
Fuel heatin� 34Q.50
Ins ur ane e 140. 9 7
Repairs to structures 51,14 $22, 837, 29
Tx°ansrnission
Labor 2, Q�1. O1
Ma�erials 252. 13
M�,intenance of equipment 248 b4
Sv.pplies 116, 03
Power 41.4_2 2, 709. 23
Administration
Salaries and wages 8, 857. 82 f
Mileage T, 825. 95
Pub.lic employees reti.rement fund contributions 1, 183.97
Insurance 508, z2
Suppl�es 472. 74
Water charge refunds 374, 80
�'axes 373, 29
Consultang fees 262 50
Printzng and postage 253. 14
Equipment rental 86, 68
Maintenance of equiprnent 86, 6b
Fuel equipment b4s 22
Schools and confe�ences 36, 25
Dues and subscripta.ons �.5.00
�ther 20, 95 14, 442. 19
Cu�tomer Accounting and Callection
5alarie� and wages 4$ 4, 53g, 07
Supplies 828, 19
Postage and �rin�ing 511. U2
Other 90. 42 5, 968„ 70
Total �ater Departrnent Operating .E�cpenses $45, 957. 41
(See notes to financial statements which accompany
this report)
Tlais statexnent is an integx al part of report dated March 27., 1961.
�35-
Exhibit 29
Village of Brooklyn Centex
Public Utilities Fund
SEWER DEPARTMENT OPERATING E�PEN5ES
Year m 196Q
1 Disposal Source
l�.ent City af Minneapolis $24, 57b. 39
Rent m Village of Crystal 1, 628. 25
Repairs a.t lift stations 17. 72 $26, 222. 36
Pumping
Power 1, 459. 24
Labor 986.I9
Materials 387. 48
Maint�nance of pumps and equipment 327.97
Fuel heating 92, 74
Equiprnent rental 27. 28 3, 280.90
Transrni��ion
Labor 1, 30l 0 50
Sugaplies 319, 52
PQwer 7p, 67
Maintenance of equipment 63.46
Repairs on mains 490 25
Equipment �ental 45. 00 1, 849.40
I Administration
Sala�ie� and wages 4 628. 49
Maleag:e 1, 825. 95
Public emplayees retix°ernent fund contributio�s 1, 183.97
Consulting fees 262 50
Insurance 1$4.82
Sewex° charge refunds 142.85
Sewex° penalty refunds 114, 00
Equipment rental ?7.4f�
Printing and postage 72.31
Fuel equipment 64, 22
Suppli e s 4I o 21
Schaols and c�nferences 10, 10
Other 3. 88 8, 611, 76
Customer Accounting and Collection
Salaries and wages 2, 786.84
supplies 678, 96
Postage and printing 4090 22
Other 19, 78) 3, 855. 24
Tota1 Sewer Depar'tment Qperating :Expenses $43, 819. 66
(.See accompanying notes to financial statem�nts)
This statement is an integral part of report dated March 27, 19b1.
-36-
Exhibit 30
Vill�.�e of Brooklyn Genter
Investment Trust Funcl
BALANCE SHEET
December 31, 196Q
ASSETS
Cash in bank 38, 998. 43
Accrued interest receivable 10, 854. 0�
Inve strnents
Unarriorti zed
Face (Discountj Cost
Value Pr�mium Basis
United States government
secux°itxes 525, 000. 00 $1, $54. 84 5Z6, 854.. 84
Village of Brooklyn Center
securities 59, OOOo 00 1, 456. 80) 57, 543. 20
Construction loans 19 60
AB Fund Note 7 900, 000. 00 900, OQO, 04
$1, 484, Q00. 00 39_8. 04
Total Investments 1, 4$4, 398. Q4
Totai Assets $1, 534, 250.49
LIABILITIES
Due to contractors (contraet performance de�osits) 9, 936. 89
Due to participating funds:
Special assessment funds _$1, 3$4, 296. 88
Public Utilities fund 60, 995. 38
Municipal liquor fund 4b, 935. 89
Park bond fund 25 663 5?
Gen�ral fund 6, 421, 88
Tota1 Due to Participatxn�; Funds (See Exhibit 32) 1, 524, 313. 6Q
Total Lia.bilities $1, 534, 250, 49
(See accompanying notes to financial �tatementsj
This statement is a� integral part of xeport dated March 27, 1961,
i
3a
���i.ibit 31
Village of Brooklyn Center
Investxnent Trust: Fund
STATEMENT OF EAI2,NZNGS
Year 1 qb0
Incorne
Interes;t:
Constructian loans $33, 852, 14
United States governmsnt �ecurities 15, 9$?, 56
Vallage of Brooklyn Center securities 8, 966. 77
Total Interest Income $58, $06. 47
Expenses
Custoc��.a.n charges $516, I5
Audit 325e Q0
Px°inting 57. 43
Tota1 Expenees gg�� 5g
Net In�orne Distribut�d'to Partieipating Funds $57, 907. 89
(See Exh.ibit 32 for detail of income distribution)
(See accornpanying notes to financial statements)
This sta�ement is an in�egral part of report dated March 27, 1961,
-38m
E�chibit 32
Villa e of Brooklyn Center
Investment Trust Fund
CHANGES IN PARTICIPATING FUND BAL,ANCES
Year 1960
L Balance Net of Fund Incorne Balance
January 1, Add;itions Distributed December 31,
1960 (w�tha�a;w�.is) iq6o i96o
Special Assessment Funds
Storm Sewer #1 34, 524. 61 Q 500, 00� 1, 525. 64 35, 550. 25
Sanita.ry Sewer #1 8, 892. 01 2, 10?`. 99 4A1. 36 11, 4Q1. 36
1953 AB 35.40 35.40)
1954'A 6, 844. 38 2, 800. 00) 248. 37 4, 292. 75
1954 C 3.82 3.82)
1955 A 99, 010. 08 23, 20Q. OQ 4, 612. 88 I26, 822, 96
1956 AC 335, 604. 82 62, 000. 00 15, Obl, I5 412, 665. 97
1956 B 104, 2230 42 38, 500. 00 5, 725. 47 148, 448, 89
1957 AB 409, 814, 74 45, OCI�. 00 17, 391. 30 472, 206. 04
1958 A 14, 747. 58 18, 752. 42 1, b89. 81 35, 18q, 81
T958 B 111, 935.94 20, 0�0. �00 4, 953.44 136, $S90 38
1959 AB 829.47 829.47
Special Assessment-Funds
Total $1, 125, 636. 80 $206, 221. 19 $52, 438. 89 $1, 384 296 88
Public Utilities .Fund 3. 75 59 996 25 995. 38 60 995 38
Mungci al Li uor Fund 40, 8b4. O1 5, 000. 00 1, 071. 88 46 935. 89
P q
Pa�k Bond Fund I94. 23 24, 805. 77 663. 57 25, 663. 5?
General Fund 3, 229. 87 453. 84 Z, 738. 17 6, 421�, 88
°Tota.l ATt Funds $1, lfi9� 928 66 $29b 477. 05 $57, 90?� 89 $1� 52 313, fi0
(See notes accornpany�.ng financial s�atem�nts)
1
This staternent is an integ�a,l ga.rt of repo�� da�ed Marc�i 27, 1961.
39
Exhibit 33
Vi�lage of Brooklyn Cent�r
A�ency Funds
C�MBINED BALANGE SHEET
December 31, 196U
A�ent fqr
Combined Fire Departrr�ent Public Employees�
Total Relief Association R.etirernent Ass.�ac.
ASSETS
Cash on hand and in banks 5, 654. Ob 5, 6540 06
Cassh held by County Treasurer's
office 263a 03 14I. 75 121. 28
Du:e frorn othex funds 6, 114. 51 6, 114. 51
Taxes receivable:
Levied in 1.959, collecti.ble in 1960 467. 91 247. 22 220, b9
Prior years tax Ievies 184. 71 127. 87 56. 84
Totals $12, 684. �2 SIb. 84 $12, 167. 38
LIABILITIE� AI�D FUND BALANCES
Liabiliti e s
Due to other funds 102. 21 102. 2I
Fund Balances {See Exhibit 34� 12, 582. 01 516. 84 12, Q65. 1?
Totals 12, 684. 22 516, 84 $12, 167. 38
(See a.ccornpan�ing notes ;to financial s:taternent�)
This sxatement is an ir�tegral part of report dated March 27, 1961.
40
t Exhibit 34
Village of Brooklyn Centex°
A�ency Funds
STATEMENT OF R.�VENUE, EXPENDITURES A1�TD
F'UND BALA,NCES (COMBINED)
Year 1960
A�ent for
Combined Fire Departmex�t Public Ernployees
Total Relief Assoc. Retirement Assoc,
Fund Balance�, Januar� 1, 1960 383.36 308.95 74. 41
Add: Revenue
Taxes levied 1959 due 1960 30, 645. ?6 16, 196, 20 14, 449, 56
Share of Public Employees
Retix°emexit contributions from
enterprise funds:
Liquor stores 3, 746. 5? 3, ?46. 57
Public utility fund 2, 367. 94 2, 367. 94
Sub-Total $37, 143. 63 $16, 505. 15 $2p, 638. 48
Deduct: Expenditures
Payments to prrncipal of
agency fund $24, 557. 93 $15, 984. 62 8, 573. 31
Wrixe off 1954 tax levy
balance 3. 69 3. 69
Total Expenditures $24, 56I. 62 $15, 988. 31 8, 573, 31
Fund Balances, Dee. 31, 1960 �;12, 582, O1 516. 84 $12, 065. 1�
(See accoa�p�x�ying notes to fin�.ne�al statements)
This statement is an integra�. �art of report da�ed l�iarch 27, �961.
-41
Exhibit 35
V�Ilage of Brooklyn C�nt�r
Agency Fund�
STATEMENT OF �ASH RECEII�TS AND DISBURSEMENTS
Yeax 1960.
A��nt for
i Comlained Fire Depa�tmen� P"ubli� Exnplayees
Total R,��bef �is�sociation Retir��nent Assoc,
Casl� Receiptz�
T�.x coyl�ct�ans �ernitt�d to Village e
Cur��nt 1�vy eoll�ctible gn I960 $29 93bo 25 $15 821. 29 $I4� 114.9�i
P��tir y�ars tax I�vies 2°T5, 7'4 I63. 33 112.4I
�Lib-`�O�.Z$ ��o Z11 �9 �Jy 9840 �2 $i�.4 2'27 3�
I3educfi a �a�h d��i�ursements
Di�bu�°sed to prix�cagal of
agency fund 24, ��'�,�'93 15, 984, 62 8, 5?3. 31
C�.sh o� H�.nd And im B��k�
3
6 5, 6540 06
I7eeez�b�r 31 q 1960 5, fs�4a.�
(See a,ccam�s�.nying notes to financia� staternents�'
T�:i� st�,t�m�nt is an �n��g��fl p�.r� of r��crr� c��.t�d �M,�.�ch 27, 19610
42
i Village of Brooklyn Center Exhibit 3Ei
SUMI+�ARY STATEMENT C,1F GENER.AL .FI�ED ASSETS
December 31, 1960
January 1, Year 1q60 December 3I,
An�vestment 1960 �a,dditions` Deductioris 1960
'Land 2, 236, 85 17, 9500 94 2Q, 187. 7�
65th and Lynda;le Building 82, 696, 80 2, 135. 04 5$0'. 6Q 84, 25I. 24'
Tc�al sh�d and garage 20, 494. 00 2940 50 20, 1�9. 5Q
Warm�ng houses 2, 216 76 2:, 216 T6
Municipa,b h�.Al Z6 760. 33 25, �01. 64 52, 661. 97
Oss�o Road and 63rd Ave, N. Bldgd lOCI, 3140 72 10Q, 314. 72
Park pr€�perties:�inc�udes buildings�_
Nortl�port 97, 893. 48 2, 6`1Q. 23 100, �a03, 71
V�i1law Lane 5Q, 5340 21 Z, 536, 29 52, tl7aQ 5t3
S•autheast 41, 7090 32 4, 9630 98 46, 6730 30
Garden �f�y 33, 5140 16 5. 85 33, 508, 31
Rice 30, 2620 18 1, 043. 87 31, 3Q6, 05
Popla.x° Lane 24, 792, 31 8640 85 25, b57. 16
Northeast 14, 6210 35 4, 715, ?3 19, 337, 08
Donnay 5, 886, 03 240. 00 6, J.26.03
South Creek 5, 5040 00 l, 51, 25 5, 655, 25
Tria.ngle 7100 97 46, 225. 36 46, 93bo 33
Ux�distributed casts 3, 567.92 6, 372. 49 9, 94a.41
Stxeet equip�nent 139, 904. 40 29, 135, 15 3, 3Q4. 4T l b5, 735. 14
Fi�� �p�bte�tio�. :equipxn�n� 50 53fi. 83 5 42b. 86 4�9. 04 55� 4fi4. (i9
Ci�ril defense equipm�nt 10, 638. 58 4Q8. 97 4U7. 44 10, 640. l I
F�ecreat�.on pa�°k .equipment 10, 785, 61 428 00 2Q8.46 11, 005. 15
Polic'e equ.�pment 7, 81 I. 16 7, 112. 56 7', 019. b2 944. 10
Furng�ure, fixtures, offzce equipment 23, 6440 52 837. 53 27$.: 65 32, 1630 40
Storm sewer and s�reet px°oject� 1, 742, 34Z. 88 43I, 5�2. 28 2, 173, 865. 16
Tpt��.g $2 4299 024:. 65 $697 897e 74 I2' 5g$, 53 '�i3 1� 32,3. 8fi
Sou�ce af In�re�tm�n�
Gene�al indebtedness obligation� 450, 1930 4b 59, 997. 62 2, 505. €i5 507, b85. 23
,Genera.l tax lev� �evenues 165, 875. 95 82, 264 ?7 �.0, 092.. 68 238, 048. 04
�pec�al ta.x le�ry revenues 3, 958. 61 7, 151..43 11, 114, 04
Liquo� s�are re�enues and certificatgs 61, 618, O1 114 461.. 64 176, 079, 65
Specy:al assessxn��t pro�ec�s �+�to�m
sewer �,nd s�reet�.
Vi11�,�� shax°� 24, 324. 31 24, 324a 31
C)wnex°�° sh2�,�e lp 5g2 823. 7? 425 799 28 2� 018 fi23, Q5
Contractors 105, 1940 �0 5, 723, OU 1�d, 917, 80
Hennepin Ca�.nty 20, OQO.OU 20, 000. 00
Conz�°xbuti�ns receti:veci 5 035. 74 2, 5p0, 00 7, 535. ?4
°Totals -$2, 429, 024�$697�, $97. 74 12' S�B. 53 $3, 1,14, 323. $6
(See �.ccc�mpanying note� to financ�.�,1 st�t�rnents)
i
This s�a.tement is an integral part af r�:po�t dated A�Iarch 2�, 1961.
m 43
Exhibit 37
Vxlla�e of Broakl�n Cen�ter
III
SU`IviMARY STATEMENT OF GENERAL DEBT AND INTEFLEST
December 31, 1960
Amount Ava.ilable And to Be Pravided
Amount available in debt service funds:
Parlc bond redexnption ftxnd 3, 993. 00
Ce�tif�cates. ;af indebtedness redemption fuz3d 5, t�55. 34
State Ioan fund I, 22$. 67
Gex�;eral �ev�r (Note 8)
Park boaxd fund (Note 9)
Tt�tal Arn�unt-Avail�ble 10, 227. 01
Axnount to be provided in future pexiods:
For interest $180, 440.45
Fo� principa:l 57Q, 3(}2.4Fi
Total Am�unt to Be Provided 75tf, '742. 91
Tota1 Axnx�unt Available And to Be Pro�rided $960, 969. 92
General Deb� And Int�rest To Be Pa�.d In Futu:�e E'eriods
General bonda: QPrincipal pc��°�ion)
Pa�k aequis�.ti�n bonds �39(�, Q�Oo Q0
Ce�tificates of i�debtedness 34, t100, 00
S�a.te Io3ri �e�°t1�'sc2�tes 12. Q�00. (�0
To�al �enerai B�nds $436, 040. 00
C.an,tracts and assessments:(Principal portican)
C�ntraet payahle Voting machines (.Nc�te 8) 43, 917d &Q
Special a.�sessment proj�ct Ievies gen�ral
Village pro�erty (Note 8) 22, 55i�o 03
Special as�essm�nt groject levies park
properties (Nc�te 9' 78, U61. 84
Total �c�nt�a.c�� �.rui .E�.�sessmenta 144:, 5�9� �7
Tota1 Gen�r�.1 Deb� $58t�, 829. 47
In�e�est payab�e in fut�xe periodso
Genera� box�ds $172, 3I8 13
�on�racts payab;le 8, 122. 32
Special asses�rnent project levies None 180, 44U, 45
Tatal Gen�ral Debt and Inte�est ta be Paid "�.n Future 1'e�iods ��f�t�, 9fa9, 92
(See accompan�ing n.otes ta finax��ia� s.�ate�rn�nZs)
I
I Thi� s�atem�en# is an int�gral part of r�po� da�ed Ar�a�ch 27, 1961:.
44
ZTill,�.ge +of Brooklyn Center
NC�TES TC} F`INANCIA.L STA,TE�ENTS
Ye�� 19b0
No�e 1 Gene��.l Fund�
The amoun� of $5t} OOQ, 00 has been appropri�.ted frorn g�neral fu�:d
unappropx°fated surplu� as of Dec'emb�r 31 I9b0 foa° general V�,lla�e
opera�ians dux°ing 1961,
Note 2 (Gener�l Fund)
A� a s,pecial meeting of �he Village C.ou�c�,g h�ld 'on June I7, 195$,
a resolution was clul.y �.dQpted providing �.n paxt that general a.d va.lQrem
ta�e� be levied in the �xnoun� $9, 300 00 in the ye�r I958 (collectible i�.
1959) f�r the e�pre�s purpose of providi.ng mt�nie� t� pay the general Village
share of princzp�,l and interes� �elating to bonds issued ta finars,ee a water
ix�nprovernent px°oject. Thi� r+e:salution was d�1y cQrtifaed ta the auditar af
Her�ep�n Coun�y wha xs th�; �ax coll�cting autharit� f�r the Villagep
Subsequer�t�y it was d�te�mined that the ad �ralox°�:m Ievy was uMnecessary,
there bea.ng sufficient monie� on hand to rn�et the bond and interest obYigatians;,
and accordingly the audi�ar of Hennepin Coun�y was requeated� tc� ca,ncel the
Ievy, Inadvert��tlp, the levy �vas not canceLLed and collectio�� we�e rernitted
to the Y�.Ilage ciux�ing 19590 As a practical r��ans of effc�ct�ng a refund of
the�� t��� whicka wex°e e��oneously collected the revenue pradu:ced by
this levy was deferred �a the 1q60 budget y�ar and the ac1 valc�r�rn .levp
reqtured ta finance 1960 operations was accorsii�gly reduced,
Note 3 (Park B.and Funci)
Du.x°s.ng 196U the acq�.�sition of properties f�x park pu�°pose� was initiated
through condem�nat��n px°�ceeda.ngso The or�ginal condemnation awa�d in the
amaunt of �3, ?50. 00 w�s �ot accepted and h�,s been appe�.ied. �hen a,
determX.ria.t�.s�n of the praper a�rard ha�s been �rs:ade, the �Ti��ag,e wi11 b� liable
for gayrn�r� the��of.
Note 4 (�u�icip�.I Liqu�a�° Fia.ncl)
Itev�nue c���ificates av��e origiriri�lly issu�d fox the purpose of fi�ancittg
the acqu��ition and equi�pin� of rn�:nicip� bu�,lclings Iuc�:ted a:t 6445 Lyndale
Av�r�ue N��h (Liquor Stc>re No4 1) a,nd QsseQ .Rc��.d, 63rd Alvenu� Ntar°th
(Liqu�ar St��e 1Va, 2�. Th� c�bl%gatior�� xncurred ��e payable st�lely fro7rn n�t
rcvenust� ele��ved f�om xhe ctpe�ation +of `the rnta��ip�1 liquor store$ �nd aX],
cert�.ficates pa����pat� or� paa�ity baaf� i� �:et revenue c�f b€��h stare�.
R.�v�nue c�rt�.fxcates out��an�.xng are a� ;fullc�ws>
(a) Revenue Certificate� payable on Sto�e Nc�. 1 propertie�p axigina.I
issue $50, OQQ. 4f}� interest rate 4. 25% ger annurny ce�tificate�
�etirec� $3Fi, 40po q0; outstanding as of December 3I, 196Q $14, OOtI. 00.
rnaturing se�ially $7, 0()Oo 00 in 196i a�d $7 �14U': ir� 1962,
(�D Rev�nue C��t�fi�at�� p�ya�ble on Sto�ee Noo 2 pr�pe�tie�," o�.��irxaX
�s�u� $Y�C1, Of�p f1Ua in�tex�est rate af 4% p�� ��ur� 41 certi,ficat�s
(�1, U00 f�.c�) ma�ua�i�:g Jan�ax°y 1, 1961 �o J'�;a�.a�y �q Iq65 axad 4.25%
t�n �la.e �`ema�ning 99 c���,ficaffies sn�'���r� J�.�r,ct�;�ry Y 1�6(a tt�
January 1, 1972p inclu:�i�e ta�efih�� �rith Y�er�st o.f Io'75% an a11
ce�t�,fi�at�� c�ut�t�.ndin� t,� Jan��r� Ie ���i�. T�ie ���ta.fxcates rna.�ux�
se�i,a�.1y �$5, 00t�� QU e�.ch y►ear 1�61 t�a�str��h,1�63� $I3, aU!D, tt� each y�a.r
1964 �hr�ugh �968e �15 000. 00 each year ��9�9 through T972; a tota�.
i�su� af $14t� 4pQ. t�t� a�,ll: of wl�ich i� c�u��t���din� an Dec�mber 31, 19bi�.
45
Village of Brooklyn Center
N�T'ES T4 FINANCIAL STATEA+IENTS
Year 1960
Nvte 5 (1�u.nacipal Liquor Fund)
Pur�uant to terms of the resolu�ion authorazing and directing the
issuance +�f revenue certificates p�yabl,e cert�,in c.o�renant� require a
xestrictian af surglus a:uaa:lable for �ransfe� �o a�her units of the Village.
The�e restrictive cosr�nants, enac�ed fo� the benef�t of c�rtificate holders,
require tha.t su�plus .reserves are to be est�bli�hed and maintainecl at
certain arn�runts as se� forth in the �esolution befa�e a.ny accumu.Iateci
earning� can be asra�l.able for tran�fer ta othe� f�.ncts of the Vill,age.
Th� tvtal re's�rve requfrement at December �1, 196p is $28, 523. �7
�.nd the am�urii� af surplus available to meet thi.s requix°ernent' is $T2, 445. 59,
(See Exl�iba.t 22D Yeaving a deficiency of $16, C?78. 0$ in reserve requirenn.�nts.
Du�ring the y�ar 1q60 ar� amoun� of $25, 000„ 00 vvas ,transf�rred to the Village
general fund and accordingly, of this tran�fe� �2E� q78, 08 was nat in
comp�.iance w�.th the protective covenants a� e�t�bl�.shed for holders of
certif�cates, This ma.tte�° has b��n braught to Zhe att�nt�on of the goverr�.ng
body of the Vill�ge and und�r x°esolution dated IVI�.y 15, T9b1 the Director
of Fir�a�ce was instructed to tx°ansfer such mnnies f�orn �he general fund
as needed for cornpliance with the rese�ve requzrern�nts and further rnoti.ons
were mad� to pre�ren� inadvert�nt x°ecurrence of th�.s :situation in the future,
Note 6 (1Vlu.nicaga.l Liquar Fund)
IDuring the current year abnarmal variance� i�. irivex�tc��°ies and �rass
p�+ofit ma�gins aecurred wi�hin the op�r�.�ion� of both liquor storeso An
investigation of these vari�.nces discl.osed that loss�;s haci oecurred arid
the gove�ning bady of ��ae Village accordzngly h�.� t�ken action to recover
th:ese Io�ses, The amount of lo�s in respec� ta in�rentory varxance� .a:t
Sto�e No 2(Qsseo Road loca��on) �ra� s.+�ttYecl d�.r�n,g the �rear with the
insurir�g cc�mpany fa� an arnount of $950o Q0. Cla�rn,s An the am�ount of
$2 832.92 a� th�;y r�I�.te to Sto�e Na, 1 QLyr�dalt A�renue locati€�n) are
in the hancis �f a�xorn�y� anci the matter is �a�a�dang settl�mer�to
No��; 7 {Inve��tn�nt Tr�z�� Fund)
Lo�.n� to 1qfn0 AB Fund �a speci�.l as�essrn�r�� fundj represent temporary
��t�rest be�.�ing advanc�� gr�nted to the �g�c�a1 a�sessx�r�nt dis�ricts�
cc�nce���;d'vvr�thin thi� fund uratil. permanerat f"x�ancir�g caf eanst�uction pxt�j+ects
�s obtained thxoug�a prepayrnent� of ass�:�sments and :the issua�ce of special
a�ses�m�rit fund ohlzga�ic�ns, The rate of in���es� ch�.x°ged on these Iaa�s
l�as be�n esta�la.shed 4Q 265�Ja a.nd 3. 49I2�Jo �nnum by the V3.1].age Ct�uncil,
so as ta be on a pa,rity uri�h gen�x°al man��r m�rk�t conditions exis�.ng at the
tiane of g�anting the lo�.n$. The�e loans �.r� re�ayable t4g�ther wath inxerest
ax suc�i time �k��,t perrnan�nt financin� i� effec�edo
m 4 m
�I�I1age of Broaklyn �enter
NO°TES fi0 FgNANCIAL S'I'BTEMENTS
Year m 1960
Note QGen�ral D�bt and InterestD
GeneraY debt of the Vill�,�e snc�.ude� the follo�ng:
A contract payalble t� tk�e Rockwell Manufacturing Cornpany for the
rentalj�au�chase of tharty automatic troting machines at a total cost
of $4? 724Q 00 plus future xntere�t, 'Th� contract provides :that the
total amount m�y be pa,�.d in full witlaout perialty at any tirrYe or it.
may be p�.id ower a ten �ear period in ec�ual ixistallmente, d;ue on
Marcl� 1 of each �eare The Village may �,f it chooses, r'e�t
��,ther tlaa,n p�.rchase tYae macl�i.ne and is perrr�atted upon �rritten
n�tice to return the rnachines during any subs:equet�t year, with
the pr�va.so t�aa� in the e�ent of ��eturn the next annua.I ix��tallm�en�
ciize after �l�ne date of re�ux°ning �he xna�hin� has to be paid, The
cantrac� pravid�s that interest accrue� on the un:paid bal�.nce as
of March l a 1961 at t�ne rate of 4 1/2%Q per annurn, The pxincipal
balance vvhycl� r�m�a.�n� outstanding on thti�.� contx°act �s Qf
Dec�mb�r 3I, I960 i� $43 917, 60,
b, Amo�.ri�s due �a s:pecia.� �.ssessment#unds for the ViI.l.age share of
px°oject costs �.s��s�ed �.gains� gen�ral prop��ty owned by the Vi1lag;e
Tl�.e to�a.1 princi�aa.g amaun� of these Ievies as in the am�unt
of $22 550, 03
The l�.quicla�fon of these ob�igataons is planned fur under general budget
procedu:res �.nd, acc:ox°dingly pequix°ed ins�a�.l�rients on these obl�.gat�ons
v�rill be appropraated far in �l�e budget yea� dur�ng whach they become due.
ATot� q(General Deb� and Ixit�rest➢
The �r�ncipa2 por$i�an du� �o specy.al ass�ssment funds x°elati.ng ta
project cos�s as���s�d aga�ra�� pa�k pxo�a�rt�.e� is in the arnoun� af $7$, 061. 84
as of Dee�mber 31 19b0, 7C�aese a�s�ssxnen�s are tlqe obligat�o� of the Park
Boax°d Fund Qp��rk gener�.l fu.nd� and ac�ordin�l�r, are plann�d fox° under
budge��,x°y p�o�edu�°e� �rhereby amour�t� wa11 b� ap�a°opria;�ec� du�ing the budget
t year in w��ck� paym�nt of in��a.11anent� becvme dueQ
Note Y 0
The firm of Lax°�on L�ndquist Fraser and A�l�.gnu.son atto�°neys fa� the
Village of B�oo�clyn Cen�te� vya� consulted as of June 5 1961 as it may
co�cern possible con�ing�nt 1�.�,b�lgt�es ox° gend�ng la�usnits in whach the Villa;g;e
i� anvcalvedo �n �.ddg�aon to t�ie ��peab of a condemnation awaxd as set forth in
Note 3 of the�e note� �h� �Ta��a�e is invoYved �n davvsuit initia�ted by a ft�rmer
m�.nager of t�ae jTi�.l�:ge L�eq�.�r St�r� to recot�er �,Ileged damages for wrongful
dischar�� fx°om h.i� du�ies �s s�are manage�°,
0 47