HomeMy WebLinkAbout1979 Audit Report
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I CITY OF ST. JOSEPH
ST. JOSEPH, MINNESOTA
I AUDITED FINANCIAL STATEMENT
AS OF
I . DECEMBER 31, 1979
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I MARLIN J. BOECKMANN
Certified Public Accountant
I Minneapoüs, Minnesota
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CITY OF ST. JOSEPH
TABLE OF CONTENTS
December 31, 1979
Page
Mayor, City Council Members, and City Clerk 1
Auditor's Report 2
Combined Balance Sheet - All Fund Types and
Account Groups 3
General Fund:
Balance Sheet 4
Statement of Changes in Fund Balances 5
statement of Revenues - Estimated and Actual 6
Statement of Expenditures - Estimated and Actual 8
Special Revenue Funds:
Combining Balance Sheet 11
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances 12
Federal Revenue Sharing:
Balance Sheet 11
Statement of Revenue, Expenditures, and Changes
in Fund Balance - Estimated and Actual 13
Capital Projects Funds:
Combining Balance Sheet 14
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balance 15
Special Assessment Funds:
Combining Balance Sheet 16
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances 17
Enterprise Funds:
Combining Balance Sheet 18
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings 19
Combining Statement of Changes in Financial position 20
Water Fund:
Comparative Balance Sheet 21
Comparative Statement of Revenues, Expenses, and
Changes in Retained Earnings 22
Comparative statement of Changes in Financial position 23
Plant Operation and Maintenance Fund:
Comparative Balance Sheet 24
Comparative Statement of Revenues, Expenses, and
Changes in Retained Earnings 25
Comparative Statement of Changes in Financial position 26
Statement of General Fixed Assets 27
Notes to Financial Statements 28
Accountant's Comments on Supplementary Schedules 33
Supplementary Schedules:
Combined Schedule of Indebtedness 34
Schedule of Personnel Expenditures 35
Schedule of Fixed Assets 36
CITY OF ST. JOSEPH
MAYOR, CITY COUNCIL MEMBERS AND CITY CLERK
For the Year Ended December 31, 1979
Mayor
Hugo B. Weyrens
City Council Members
Herman Schneider
Donald Reber
Steven Dehler
Michael Husen
City Clerk
Robert G. Johnson
-1-
I MARLIN ]. BOECKMANN
Certified Public Accountant
I
4065 82nd Avenue North MEMBER:
I Minneapolis, Minnesota 55443 American Institute
o{C.P.A. 's
Minnesota Society
I o {C.P.A. 's
I To the Honorable City Council
City of st. Joseph
st. Joseph, Minnesota
I We have examined the balance sheet of the various funds and the state-
ment of general long-term debt group of accounts of the City of st. Joseph,
I st. Joseph, Minnesota for the year ended December 31, 1979. Our examination
was made in accordance with generally accepted auditing standards and accord-
ingly included such tests of the accounting records and such other auditing
I procedures as we considered necessary in the circumstances, except that we
did not examine the statement of General Fixed Assets for the reason stated
in the following paragraph.
I Because the city does not maintain fixed asset records which provide
complete accounting control over quantities and costs of all equipment, it
was impracticable to audit the accompanying Statement of General Fixed
I Assets and we express no opinion thereon. Also, under generally accepted
accounting principles, depreciation is recorded on tangible long-lived assets
of proprietary funds. The city's administration has informed us that deprec-
I iation has not been taken on the Water Funds and Plant Operation and Main-
tenance Fund's tangible long-lived assets. The effects of this departure
from generally accepted accounting principles on the accompanying financial
statements have not been determined.
I Generally accepted accounting principles also require comparison of General
Fund and Special Revenue Fund actual revenues and expenditures to a formal
I budget. A part of the General Fund activity was not formally budgeted, as
described in note IF to the Financial Statements.
I In our opinion, except for the Statement of General Fixed Assets and non-
depreciation of proprietary fixed assets referred to above, the aforemen-
tioned financial statements present fairly the financial position of the
I various funds and general long-term debt group of accounts of the City of
st. Joseph, St. Joseph, Minnesota, at December 31, 1979 in conformity with
generally accepted accounting principles applied on a basis consistent with
that of the preceding year.
I
I Minneapolis, Minnesota 7t:~
June 25, 1980 MARLIN J. BOECKMANN, C.P.A.
I -2-
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CITY OF ST. JOSEPH
GENERAL FUND
BALANCE SHEET
December 31, 1979
ASSETS
Cash $ 49,655
Certificates of Deposit 177 , 650
Interest Receivable 1,374
Accounts Receivable 3,801
Taxes Receivable - Delinquent 3,639
Due from 1979 Alley Improvements 8,837
Due from Wastewater Treatment Plant Upgrading 5,616
Due from 1975 Sidewalk Improvement 1,241
TOTAL ASSETS $ 251,813
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts Payable $ 23,606
Due to Special Assessments 6,415
TOTAL LIABILITIES $ 30,021
Fund Balance:
Appropriated:
Joint Operating Fire $ 3,999
Street Maintenance 28,061
Police 4,468 36,528
Unappropriated 185,264
TOTAL FUND BALANCE 221,792
TOTAL LIABILITIES AND FUND BALANCE $ 251,813
The notes to the financial statements are an integral part of this
statement.
-4-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1979
Revenue and Other Sources $ 330,490
Expenditures and Other Uses 282,683
NET INCREASE (DECREASE) IN FUND BALANCE $ 47,807
FUND BALANCE, January 1 173,985
FUND BALANCE, December 31 $ 221,792
The notes to the financial statements are an integral part of this
statement.
-5-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF REVENUES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979
Actual
Over
(Under)
Budgeted Actual Budget
TAXES:
General Property Tax $ 57,820 $ 57,320 $ (500)
LICENSES AND PERMITS:
Business Licenses and
Permits $ 8,296
Non-Business Licenses and
Permits 8,681
TOTAL LICENSES AND PERMITS $ 11,000 $ 16,977 $ 5,977
INTERGOVERNMENTAL REVENUE:
State Grants:
Local Government Aid $ 159,249
Homestead Credit 21,594
Operating Fire 5,094
Police 6,095
Machinery Aid 658
TOTAL INTERGOVERNMENTAL
REVENUE $ 181,249 $ 192,690 $ 11 , 441
CHARGES FOR SERVICES:
Sanitation $ 13,736
Recreation 2,237
Assessment Search 75
TOTAL CHARGES FOR SERVICES $ 13 , 000 $ 16,048 $ 3,048
FINES AND FORFEITS:
County Court $ 3,469
Police Department 1,098
TOTAL FINES AND FORFEITS $ 7,000 $ 4,567 $ (2,433)
The notes to the financial statements are an integral part of this
statement.
-6-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF REVENUES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979
(CONTINUED)
Actual
Over
(Under)
Budgeted Actual Budget
MISCELLANEOUS REVENUES:
Interest $ 14,703
Rents 700
Assessments 1,792
CETA 9,230
Shade Tree Program 3, 213
Refunds 1,324
Township Share of Joint Fire 9,600
Miscellaneous 1,751
TOTAL MISCELLANEOUS REVENUES $ 12,800 $ 42,319 $ 29,519
TOTAL REVENUES $ 282,869 $ 329,921 $ 47,052
OTHER SOURCES:
Transfers from Other Funds:
1978 Bond Improvement Fund $ 569
TOTAL OTHER SOURCES $ 0 $ 569 $ 569
TOTAL. REVENUE AND OTHER SOURCES $ 282,869 $ 330,490 $ 47,621
The notes to the financial statements are an integral part of this
statement.
-7-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF EXPENDITURES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979 Actual
Over
(Under)
Budgeted Actual Budget
GENERAL GOVERNMENT:
Mayor and Council
Salaries $ 5,800 $ 6,060 $ 260
School, Travel, Supplies,
and Other 870 639 (231)
Elections & Voter Registration
Salaries 100 (100 )
Supplies 75 (75)
Finance
Municipal Clerk
Salaries 27,780 24,909 (2,871)
Retirement Contributions 2,770 2,868 98
Insurance 1,300 956 (344)
Supplies 1,050 967 (83 )
Telephone 350 354 4
Repairs and Maintenance 100 228 128
School 300 619 319
Accounting Services 2,000 2,000
Audit 1,500 1,500
Capital Outlay 450V 450
Other Miscellaneous 322 211 (111)
Treasurer
Salaries 1,200 1,646 446
Other Miscellaneous 110 183 73
Assessor
Salaries 2,000 2,281 281
Other Miscellaneous 245 102 (143)
Planning & Zoning Current
Expenditures 2,465 8,041 5,576
Legal
Attorney Fees 7,000 6,837 (163)
Publications 750 623 (127)
Engineering Fees 3,000 3,449 449
Forester-Shade Tree Programs 675 859 184
Emergency Services 200 59 ( 141)
General Government Buildings
Ci ty Hall 1,265 1,131- (134)
Maintenance Shop 36,500 37,869 1,369
TOTAL GENERAL GOVERNMENT $ 96,227 $ 104,841 $ 8,614
PUBLIC SAFETY:
Police Protection
Salaries $ 42,090 $ 36,254 $ (5,836)
Insurance 7,530 5,817 (1,713)
Gas, Oil, Service 3,400 3,790 390
The notes to the financial statements are an integral part of this
statement.
-8-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF EXPENDITURES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979 Actual
(CONTINUED) Over
(Under)
Budgeted Actual Budget
Attorney Fees $ 3,800 $ 3,639 $ (161)
Telephone 1,500 l, III (389)
Reservists 1,400 1,631 231
Clothing Allowance 720 770 50
Repairs and Maintenance 600 2,333 1,733
Supplies 1,440 896 (544 )
Retirement Contributions 4,340 4,341 1
Capital Outlay 884- 884
state Aid Refund 2,031 2,031
Miscellaneous 610 646 36
Fire Protection
State Aid 5,094 5,094
Insurance 2,690 2,690
Meetings, Drills 3,105 3,105
Pension Contributions 1,200 1,200
Convention, Conference 976 976
Salaries 1,100 1,100
Fires 1,040 1,040
Heat 1,155 1,155
Supplies 974 974
Capital Outlay 3,321..... 3,321
Repairs and Maintenance 711 711
Other Miscellaneous 1,305 1,305
Animal Control
Supplies 50 54 4
TOTAL PUBLIC SAFETY $ 86,830 $ 86,868 $ 38
STREETS AND HIGHWAYS:
Streets and Alleys
Salaries $ 32,700 $ 28,274 $ (4,426)
Insurance 6,200 5,216 (984)
Retirement Contributions 3,470 3,261 (209)
Supplies 4,100 4,820 720
Repairs and Maintenance 1,400 1,571 171
Capital Outlay 482- 482
Street Sweeping 200 525 325
Street Lighting
Power and Light 10,000 8,498 (1,502)
TOTAL STREETS AND HIGHWAYS $ 58,070 $ 52,647 $ (5,423)
SANITATION AND WASTE REMOVAL:
Refuse Collection & Disposal
Collection Service $ 20,500 $ 20,699 $ 199
Supplies 150 204 54
Fees and Other 90 76 ( 14)
The notes to the financial statements are an integral part of this
statement.
-9-
CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF EXPENDITURES'-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979 Actual
(CONTINUED) Over
(Under)
Budgeted Actual Budget
Weed Eradication
Chemicals, Supplies, Labor $ 230 $ 105 $ (125)
TOTAL SANITATION AND
WASTE REMOVAL $ 20,970 $ 21,084 ® $ 114
RECREATION:
Recreation Activities and
Facilities
Swim Program $ 1,000 $ 3,345 $ 2,345
Salaries 3,500 2,799 (701)
Supplies, Insurance, Fees 400 420 20
Ball Park & Skating Rink 700 901 201
Hockey Rink 1,200 267 (933)
Insurance 850 703 (147)
Parks and Playground
Insurance 2,000 365 (1,635)
Supplies & Maintenance 1,300 792 (508)
Power and Light 120 144 24
TOTAL RECREATION $ 11,070 $ 9,736 ¡,~®' $ (1,334)
WASTEWATER TREATÏ'iENT PLANT:
Engineering $ $ 728 $ 728
Repair and Maintenance 1,682 1,682
TOTAL WASTEWATER TREATMENT
PLANT $ 0 $ 2, 410 ~) $ 2,410
.~
MISCELLANEOUS: 480 r<.ff; $
Senior Volunteer Program $ $ 480
Recreation Association 1,191R(JJ 1,191
Other Miscellaneous 945 1,036 A!~ 91
DY¡'-trt.
TOTAL MISCELLANEOUS $ 945 $ 2,707 $ 1,762
TOTAL EXPENDITURES $ 274,112 $ 280,293 $ 6,181
OTHER USES:
Transfers to other funds
Water Fund 102 102
Millstream Park 7 7
Wastewater Treatment Plant 2,219 2,219
Plant Operation and Maintenance 62 62
TOTAL EXPENDITURES AND
OTHER USES $ 274,112 $ 282,683 $ 8,571
The notes to the financial statements are an integral part of this
statement. -10-
CITY OF ST. JOSEPH
SPECIAL REVENUE FUNDS
BALANCE SHEET
December 31, 1979
Federal
Revenue
Sharing
ASSETS
Cash $ 7,771
Certificates of Deposit 14,500
Interest Receivable 169
Entitlements Receivable 6,284
TOTAL ASSETS $ 28,724
LIABILITIES AND FUND BALANCE
Fund Balance - unappropriated $ 28,724
TOTAL LIABILITIES AND FUND BALANCE $ 28,724
The notes to the financial statements are an integral part of this
statement.
-11-
CITY OF ST. JOSEPH
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 1979
Federal
Revenue
Sharing
REVENUES
U.S. Treasury $ 20,879
Interest 822
TOTAL REVENUES $ 21,701
EXPENDITURES
Advisory Service $ 70
Publication 35
Senior Volunteer Program 360
Capital Outlay:
Land 3,612
Buildings 8,455
Equipment 1,719
TOTAL EXPENDITURES $ 14,251
NET INCREASE IN FUND BALANCE DURING
THE YEAR $ 7,450
FUND BALANCE, January 1 21,274
FUND BALANCE, December 31 $ 28,724
.
The notes to the financial statements are an integral part of this
statement.
-12-
CITY OF ST. JOSEPH
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-
ESTIMATED AND ACTUAL
For the Year Ended December 31, 1979
Actual
OVer
(Under)
Budgeted Actual Budget
REVENUES:
U.S. Treasury $ 18,630 $ 20,879 $ 2,249
Interest 820 822 2
TOTAL REVENUES $ 19,450 $ 21,701 $ 2,251
EXPENDITURES:
Advisory Service $ $ 70 $ 70
Publications 35 35
Senior Volunteer Program 360 360
Capital Outlay:
Land 4,000 3,612 (388)
Buildings 13 , 450 8,455 (4,995)
Equipment 2,000 1,719 (281)
TOTAL EXPENDITURES $ 19,450 $ 14,251 $ (5,199)
NET INCREASE IN FUND
BALANCE DURING THE YEAR: $ 0 $ 7,450 $ 7,450
FUND BALANCE, January 1 21,274 21,274
FUND BALANCE, December 31 $ 21,274 $ 28,724 $ 7,450
The notes to the financial statements are an integral part of this
statement.
-13-
CITY OF ST. JOSEPH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
December 31, 1979
Water Treat-
Millstream ment Plant
Park Upgrading Total
ASSETS
Cash $ 58 $ 3,027 $ 3,085
Certificates of Deposit 5,000 5,000
Interest Receivable 28 28
Due from Other Governmental
Units 2,589 2,589
TOTAL ASSETS $ 5,086 $ 5,616 $ 10,702
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts Payable $ 1,335 $ $ 1,335
Due to Other Funds-General 5,616 5,616
TOTAL LIABILITIES $ 1,335 $ 5,616 $ 6,951
Fund Balance 3,751 3,751
TOTAL LIABILITIES AND FUND
BALANCE $ 5,086 $ 5,616 $ 10,702
The notes to the financial statements are an integral part of this
statement.
-14-
CITY OF ST. JOSEPH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 1979
Water Treat-
Millstream ment Plant
Park upgrading Total
REVENUES
Intergovernmental Revenues
U.S. Grant $ $ 14,341 $ 14,341
State Grant 1,168 1,168
Total Intergovernmental Revenue $ 0 $ 15,509 $ 15,509
Other Revenues
Interest $ 874 $ $ 874
Total Other Revenue $ 874 $ 0 $ 874
TOTAL REVENUES $ 874 $ 15,509 $ 16,383
OTHER SOURCES
Transfers from General Revenue 7 2,219 2,226
TOTAL REVENUES AND OTHER SOURCES $ 881 $ 17,728 $ 18,609
EXPENDITURES
Construction Cost
Engineering $ $ 19,431 $ 19,431
Equipment Rental 70 70
Lighting 9,981 9,981
Supplies 209 209
Other Miscellaneous 6,416 6,416
TOTAL EXPENDITURES $ 16,676 $ 19,431 $ 36,107
NET (DECREASE) IN FUND BALANCE $(15,795) $ (1,703) $(17,498)
FUND BALANCE, January 1 19,546 1,703 21,249
FUND BALANCE, December 31 $ 3,751 $ 0 $ 3,751
The notes to the financial statements are an integral part of this
statement.
-15-
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CITY OF ST. JOSEPH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 1979
Plant Operation
Water and Maintenance Total
Fund Fund 1979 1978
ASSETS
Current Assets:
Cash $ 3,827 $ 931 $ 4,758 $ 30,192
Certificates of Deposit 16,130 8,710 24,840 14,000
Accounts Receivable 5,320 12,324 17 ,644 16,350
Interest Receivable 91 49 140 172
Total Current Assets $ 25,368 $ 22,014 $ 47,382 $ 60,714
Fixed Assets:
Land $ 2,336 $ 4,941 $ 7,277 $ 7,277
Treatment Plant & Lines 280,190 443,622 723,812 723,812
Machinery and Equipment 51,193 14,056 65,249 54,437
Construction in Progress 2,417 2,417 2,417
Total Fixed Assets $333,719 $465,036 $798,755 $787,943
TOTAL ASSETS $359,087 $487,050 $846,137 $848,657
LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current Liabilities:
Accounts Payable $ 2,024 $ 2,621 $ 4,645 $ 6,051
contribution from
Special Assessments 219,952 391,610 611,562 611,562
Retained Earnings,
Unreserved 137,111 92,819 229,930 231,044
TOTAL LIABILITIES, CONT-
RIBUTIONS & RETAINED
EARNINGS $359,087 $487,050 $846,137 $848,657
The notes to the financial statements are an integral part of this
statement.
-18-
CITY OF ST. JOSEPH
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1979
Plant Operation
Water and Maintenance Total
Fund Fund 1979 1978
-
REVENUES
Sales & Rental Charges $ 21,038 $ 12,021 $ 33,059 $ 34,100
Service and Permits 5,498 260 5,758 6,885
Taxes and Assessments 148
Operation Cost Share 16,230 16,230 11,352
Interest 1,952 617 2,569 1,305
Other Miscellaneous 1,247 1,247 407
--
TOTAL REVENUES $ 29,735 $ 29,128 $ 58,863. $ 54,197
EXPENSES
Salaries $ 11,323 $ 8,836 $ 20,159 $ 17,579
Power, Pumping, Heat and
Light 3,452 5,810 9,262 6,499
Repairs and Maintenance 3,021 3,532 6,553 4,355
Sales Tax 561 561 760
Supplies 3,969 4,579 8,548 6,999
Hospitalization 477 477 451
Insurance 1,051 2,757 3,808 5,126
PCA Tests 840 840 700
Filtration 839 839 781
Retirement Contributions 1,301 720 2,021 1,801
Water Thaw 1,050 1,050 575
Inspection Fees 945 130 1,075 1,494
Lightning Damage 1,066 1,066
Other Miscellaneous 782 3,100 3,882 2,288
TOTAL EXPENSES $ 29,837 $ 30,304 $ 60,141 $ 49,408
NET INCOME (LOSS) $ ( 102) $ (1,176) $ (1,278) $ 4,789
TRANSFERS FROM (TO) OTHER FUNDS 102 62 164 2,116
RETAINED EARNINGS, January 1 137,111 93,933 231,044 224,139
RETAINED EARNINGS, December 31 $137,111 $ 92,819 $229,930 $231,044
The notes to the financial statements are an integral part of this
statement.
-19-
CITY OF ST. JOSEPH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1979
Plant Operation
Water and Maintenance Total
Fund Fund 1979 1978
SOURCES OF FINANCIAL RESOURCES
Operation
Net Income (Loss) for the
Year $ (102) $ $ (102) $ 4,789
Add: Items not requiring
Current outlay of resources
Loss on Disposal of Equipment 1,603 1,603 666
Total Resources Provided by
Operations $ 1,501 $ 0 $ 1,501 $ 5,455
Transfers from Other Funds 102 62 164 2,116
TOTAL RESOURCES PROVIDED BY
ALL SOURCES $ 1,603 $ 62 $ 1,665 $ 7,571
USE OF FINANCIAL RESOURCES
Operations
Net Loss for the Year $ $ 1,176 $ 1,176 $
Total Resources Used by
Operations $ 0 $ 1,176 $ 1,176 $ 0
Acquisition of Fixed Assets 11,595 820 12,415 2,116
TOTAL USES OF FINANCIAL RESOURCES $ 11,595 $ 1,996 $ 13,591 $ 2,116
NET INCREASE (DECREASE) IN
vl0RKING CAPITAL $ (9,992) $ (1,934) $(11,926) $ 5,455
COMPONENT ELEMENTS OF INCREASE
(DECREASE) IN WORKING CAPITAL
Cash $(13,451) $ ( 11 , 983) $(25,434) $ 7,097
Certificates of Deposit 2,130 8,710 10,840
Accounts Receivable (1,061) 2,355 1,294 1,858
Delinquent Taxes Receivable (53)
Interest Receivable (81) 49 (32)
Accounts Payable 2,471 (1,065) 1,406 (3,447)
NET INCREASE (DECREASE) IN
WORKING CAPITAL $ (9,992) $ (1,934) $(11,926) $ 5,455
The notes to the financial statements are an integral part of this
statement.
-20-
CITY OF ST. JOSEPH
WATER FUND
COMPARATIVE BALANCE SHEET
December 31, 1979
Year Ended December 31
1979 1978
ASSETS
Current Assets:
Cash $ 3,827 $ 17,278
Certificates of Deposit 16,130 14,000
Accounts Receivable 5,320 6,381
Interest Receivable 91 172
Total Current Assets $ 25,368 $ 37,831
Fixed Assets:
Land $ 2,336 $ 2,336
Water Treatment Plant and Lines 280,190 280,190
Machinery and Equipment 51,193 41,201
Total Fixed Assets $333,719 $323,727
TOTAL ASSETS $359,087 $361,558
LIABILITIES, CONTRIBUTIONS & RETAINED
EARNINGS
Current Liabilities:
Accounts Payable $ 2,024 $, 4,495
Contributions from Special Assess-
ments 219,952 219,952
Retained Earnings, Unreserved 137,111 137,111
TOTAL LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS $359,087 $361,558
The notes to the financial statements are an integral part of this
statement.
-21-
CITY OF ST. JOSEPH
WATER FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1979
Year Ended December 31
1979 1978
~--
REVENUES
Sales $ 21,038 $ 21,771
Service and Permits 5,498 6,515
Interest 1,952 1,099
Other Miscellaneous 1,247 407
TOTAL REVENUES $ 29,735 $ 29,792
EXPENSES
Salaries $ 11,323 $ 9,999
Retirement Contributions 1,301 1,100
Power, Pumping, and Heating for Wells 3,452 3,143
Repair and Maintenance 3,021 2,574
Sales Tax 561 760
Supplies 3,969 3,613
Hospitalization 477 451
Insurance 1,051 1,543
Filtration 839 781
Water Thaw 1,050 575
Inspection Fee 945 1,314
Lightning Damage 1,066
Other Miscellaneous 782 564
TOTAL EXPENSES $ 29,837 $ 26,417
NET INCOME (LOSS) $ ( 102) $ 3,375
TRANSFERS FROM OTHER FUNDS 102 633
RETAINED EARNINGS, January 1 137,111 133,103
RETAINED EARNINGS, December 31 $137,111 $137,111
The notes to the financial statements are an integral part of this
statement.
-22-
CITY OF ST. JOSEPH
WATER FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1979
Year Ended December 31
1979 1978
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income (Loss) for the Year $ (102) $ 3,375
Add: Items not requiring current
Outlay of Resources
Loss on Disposal of Equipment 1,603 333
Total Resources Provided by
Operations $ 1,501 $ 3,708
Transfers from Other Funds 102 633
TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 1,603 § 4,34~
USE OF FINANCIAL RESOURCES
Acquisition of Fixed Assets $ 11,595 $ 633
TOTAL USES OF FINANCIAL RESOURCES $ 11,595 $ 633
NET INCREASE (DECREASE) IN WORKING
CAPITAL $ (9,992) $ 3,708
COMPONENT ELEMENTS OF INCREASE (DECREASE)
IN WORKING CAPITAL
Cash $(13,451) $ 7,692
Certificates of Deposit 2,130
Accounts Receivable (l,06l) (897)
Interest Receivable (81)
Accounts Payable 2,471 (3,087)
NET INCREASE (DECREASE) IN WORKING CAPITAL $ (9,992) $ 3,708
The notes to the financial statements are an integral part of this
statement.
-23-
~
CITY OF ST. JOSEPH
PLANT OPERATION AND MAINTENANCE FUND
COMPARATIVE BALANCE SHEET
December 31, 1979
Year Ended December 31
1979 1978
ASSETS
Current Assets:
Cash $ 931 $ 12,914
Certificates of Deposit 8,710
Accounts Receivable 12,324 9,969
Interest Receivable 49
Total Current Assets $ 22,014 $ 22,883
Fixed Assets:
Land $ 4,941 $ 4,941
Sewer Treatment Plant and Lines 443,622 443,622
Machinery and Equipment 14,056 13,236
Construction in Progress 2,417 2,417
Total Fixed Assets $465,036 $464,216
TOTAL ASSETS $487,050 $487,099
LIABILITIES, CONTRIBUTIONS AND RETAINED
EARNINGS
--
Current Liabilities:
Accounts Payable $ 2,621 $ 1,556
Contributions from Special Assessments 391,610 391,610
Retained Earnings, Unreserved 92,819 93,933
TOTAL LIABILITIES, CONTRIBUTIONS AND
RETAINED EARNINGS $487,050 $487,099
The notes to the financial statements are an integral part of this
statement.
-24-
CITY OF ST. JOSEPH
PLANT OPERATION AND MAINTENANCE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1979
Year Ended December 31
1979 1978
REVENUES
Sewer Rental Charges $ 12,021 $ 12,329
Operation Cost Share 16,230 11,352
Service and Permits 260 370
Taxes and Assessments 148
Interest 617 206
TOTAL REVENUES $ 29,128 $ 24,405
EXPENSES
Salaries $ 8,836 $ 7,580
Power, Heat, and Light 5,810 3,356
Supplies 4,579 3,386
Repair and Maintenance 3,532 1,781
Insurance 2,757 3,583
PCA Tests 840 700
Retirement Contributions 720 701
Inspection Fee 130 180
Other Miscellaneous 3,100 1,724
TOTAL EXPENSES $ 30,304 s{'Ð $ 22,991
NET INCOME (LOSS) $ (1,176) $ 1,414
TRANSFERS FROM OTHER FUNDS 62 1,483
RETAINED EARNINGS, January 1 93,933 91,036
RETAINED EARNINGS, December 31 $ 92,819 $ 93,933
The notes to the financial statements are an integral part of this
statement.
-25-
'-'-
CITY OF ST. JOSEPH
PLANT OPERATION AND MAINTENANCE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1979
Year Ended December 31
1979 1978
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income for the Year $ $ 1,414
Add: Items not requiring current
Outlay of Resources -
Loss on Disposal of Equipment 333
Total Resources Provided by Operations $ 0 $ 1,747
Transfers from Other Funds 62 1,483
TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 62 $ 3,230
USE OF FINANCIAL RESOURCES
Operations
Net Loss for the Year $ 1,176 $
Total Resources Used by Operations $ 1,176 $ 0
Acquisition of Fixed Assets 820 'JW 1,483
TOTAL USES OF FINANCIAL RESOURCES $ 1,996 L!,483
NET INCREASE (DECREASE) IN WORKING CAPITAL $ (1,934) $ 1,747
COMPONENT ELEMENTS OF INCREASE (DECREASE)
IN WORKING CAPITAL
Cash $ (11,983) $ (595)
Accounts Receivable 2,355 2,755
Interest Receivable 49
Certificates of Deposit 8,710
Delinquent Taxes Receivable (53)
Accounts Payable (1,065) (360)
NET INCREASE (DECREASE) IN WORKING
CAPITAL $ (1,934) $ 1,747
The notes to the financial statements are an integral part of this
statement.
-26-
CITY OF ST. JOSEPH
STATEMENT OF GENERAL FIXED ASSETS
December 31, 1979
GENERAL FIXED ASSETS
Land $ 30,443
Buildings 73,024
Improvements other than Buildings 945,079
Equipment 229,544
Construction in Progress 62,102
TOTAL GENERAL FIXED ASSETS $1,340,192
INVESTMENT IN GENERAL FIXED ASSETS FROM:
General Fund Revenue $ 240,157
Special Assessments 899,476
Revenue Sharing 137,097
Capital Projects 63,462
TOTAL INVESTMENT IN GENERAL FIXED ASSETS $1,340,192
The notes to the financial statements are an integral part of this
statement.
-27-
CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1979
Note 1 - Summary of Significant Accounting Policies
The accounting policies of the City of St. Joseph conform to generally
accepted accounting principles applicable to governmental units, except as
~índicated in Note IE and IF below. The following is a summary of the
significant accounting policies.
A. Bases of Accounting:
The modified accrual basis of accounting is followed for the general
and special revenue funds. Under this method of accounting, revenues
are recognized when received in cash, except for material or available
revenues which are accrued to reflect revenues earned and available to
fund operations for that period. Expenditures, other than accrued
interest on general long-term debt are recorded at the time liabilities
are incurred.
The accrual basis of accounting is followed in the capital projects,
special assessments, and proprietary funds. Under this method of
accounting revenues are recognized when earned, and expenses are recorded
as liabilities when incurred.
B. Recognition of Property Taxes:
The amount of uncollected property taxes for the City are immaterial.
The delinquent amounts, except for an immaterial amount, are collectible
so all delinquents are accrued at the end of each year.
C. Cash and Temporary Investment:
Cash balances from all funds are pooled and invested to the extent avail-
able in certificates of deposit. Earnings from such investments were
allocated to the funds on the basis of applicable cash balance participation
by each of the funds.
D. General Fixed Assets:
General fixed asset purchases are recorded as expenditures in the various
funds at the time of purchase. Such assets over $100 are capitalized
at cost, or at appraisal if cost is not available, in the General Fixed
Asset Group of Accounts. See Auditor's Report for non audit status
of General Fixed Assets.
E. Depreciation:
Enterprise Funds -
Generally accepted accounting principles require that depreciation be
-28-
CITY OF' ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1979
recognized on fixed assets, though the State Auditors report does
not require depreciation on contributed fixed assets. No deprecia-
tion has been recognized in these funds. Long-lived tangible assets
costing over $100 are capitalized; a loss is charged to "Other
Miscellaneous Expense" when the asset is retired or sold.
General Fixed Assets -
No depreciation has been provided on general fixed assets.
F. Budgetary Data:
The City Council adopted an annual budget for the annually approp-
riated operations of the General Fund and for the Federal Revenue
Sharing Fund. The ongoing appropriated operations (See Note 4) of the
General Fund were not budgeted. Because both the annually appropriated
and ongoing appropriated operations make up the General Fund, the
actual results for the ongoing appropriated activities were merged into
the budgeted figures for the annually appropriated activities to make
up the total budgeted figures presented in the General Fund financial
statements.
Note 2 - Long-Term Debt
The long-term debt obligations outstanding and related maturities and interest
rates are described in Supplementary Financial Information - combined Schedule
of Indebtedness.
A. Special Assessment Bonds:
Those bonds are recorded as a liability in the Special Assessment funds.
The bonds are payable primarily from special assessments to be levied and
collected for local improvements, and are backed by the full faith of the
city.
B. Intrafund Payables:
These are Special Assessment bonds that were purchased by other City
of st. Joseph special assessment funds instead of by an outside source.
At the end of 1979 the following are the intrafund receivables and
(pay abIes) :
-29-
CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1979
1961 1965 1970 1973 1976
Sewer Street Water Water Street
$ 40,716 $ $(40,716) $ $
19,284 (19,284)
15,003 (15,003)
1,381 (1,381)
$ 55,719 $ 19,284 $ 1,381
$(60,000) $ (1,381) $(15,003)
C. The city has no general obligation bonds outstanding. The special
assessment bonds described above are a primary obligation on the special
assessment funds, but are backed by the full faith of the city.
Note 3 - Pension Plans
City employees, with some minor exceptions such as students, must belong to
the Public Employees Retirement Association (PERA) . The total contribution
to PERA and Social Security for 1979 was $12,490. The Public Employees
Retirement Association is state-wide and an individual city's portion of
unfunded reserves is not available.
The volunteer Firemen's Relief Fund is a pension plan financied by contri-
butions from the State, city and St. Joseph Township. The city and Township
are required to pay annually the excess of the increase in pension liability
for the following year over the projected interest earnings and State contri-
bution for the following year. In addition, the city and township are required
to contribute to the plan an amount equal to the estimated year-end excess of
liabilities over assets of the St. Joseph Firemen's Relief Association Pension
Fund. The city's 1979 contribution requirement of $1,200 was made.
Note 4 - Other Accounting Policies Applicable to the Various Funds
The following notes explain accounting policies that relate to each fund
individually and are not necessarily accounting policies for the whole city.
A. General Fund
There are four areas of activity within the General Fund for which special
financing is provided on an ongoing basis. The spending from such special
financing is restricted to those designated activities. These activities
may have asset balances at year-end and the year-end balances so restricted
for spending purposes are described in the General Fund Balance sheet as
"Appropriated Fund Balance." These four areas of activity are:
-30-
CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1979
Joint Operating Fire - The fund receives its revenue from the City
of St. Joseph and St. Joseph Township, and funds are used for operating
expenses for those areas.
Joint Purchase Fire - The fund receives its revenues from the City
of St. Joseph, St. Joseph Township, and the College of St. Benedict
and funds are used for purchasing fire equipment. This fund has no
balance at end of 1979.-
Special Police - This fund's revenues come only from state aid and
must be spent on policeman's retirement contributions (PERA) .
Street Maintenance - Street Maintenance records receipts and spending
for activities closely related to the Highways Division of the
General Fund. Street Maintenance receives revenues from a special
tax levy and from contributions for snow removal. The expenditures
are limited to street maintenance, improvements, and machinery and
equipment serving that purpose.
The amount in the four funds above describe the extent to which General Fund
resources are restricted to certain kinds of spending. The remainder of the
fund balance is referred to as "Unappropriated Fund Balance," which represents
the portion of the General Fund resources not so restricted.
There are three funds that owe monies to the General Fund and are listed as
"Due from...,"; the three funds are "Wastewater Treatment Plant Upgrading,"
"1975 Sidewalk Improvements," and "1979 Alley Improvements." The city's
share of the "Wastewater Treatment Plant Upgrading" cost is ten percent of
the total cost (see Note 4C). The City has contributed $5,616 more than its
ten percent share of accumulated costs at year end. The City also financed
the "1975 Sidewalk Improvement" and still has special assessments of $1,241
due to it. The General Fund paid the beginning expenses of the "1979 Alley
Improvements" before the latter fund was set up, and a receivable/payable was
set up for those expenses paid.
B. Special Revenue Funds
The City received special revenues from "Federal Revenue Sharing" of
significant amounts that are recorded outside of the general fund.
C. Capital Projects
The city had two capital projects in progress during 1979. In 1978, the
Millstream Park Fund received a $26,000 State Grant to be matched by city
funds, labor, or donations. The funds were spent to construct and develop
Millstream Park.
-31-
CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1979
The Wastewater Treatment Plant Upgrading is a three step project to improve
the sewer plant and lines. This fund is reimbursed for its expenses 75%
from the Federal Government, 15% from the State Government, and 10% from
the City. The project is currently in the second step with most of these
expenditures being engineering costs.
D. Special Assessments
Special Assessment Funds utilize the accrual basis of accounting except
for the interest income on assessments receivable that have not yet been
received in cash or the offsetting interest expenses on bonds payable
that have not yet been paid ~n cash.
Special Assessment funds record their respective long-term debt, but do not
record capital improvements. Such improvements are recorded in the General
Fixed Asset Group of Accounts or in the Enterprise Funds.
Revenues for the separate special assessment funds are derived from special
assessment taxes levied against the benefitted property owners, Gen~ral
Fund Contributions, revenues from other governments and investment revenues.
Expenditures are for construction and repayment of principle and interest
on outstanding debt.
Special Assessment fund balances are classified according to that portion
which is held for construction and that which is held to retire the debt.
There was no construction in progress at December 31, 1979. The entire
fund balance at December 31, 1979 is Fund Balance - Debt Service; the part
of the Fund Balance that is dedicated to future debt retirement.
-32-
MARLIN J. BOECKMANN
Certified Public Accountant
4065 82nd Avenue North MEMBER:
Minneapolis, Minnesota 55443 American Institute
o{C.P.A. 's
Minnesota Society
o {C.P.A. 's
COM MEN T S
City of St. Joseph
St. Joseph, Minnesota
The audited financial statements of the city and its various special funds
and our report thereon are presented in the preceding section of this report.
The financial information presented hereinafter was derived from the accounting
records tested by us as part of the auditing procedures followed in our
examination of the aforementioned financial statements and, in our opinion,
it is fairly presented in all material respects in relation to the financial
statements taken as a whole; however, it is not necessary for a fair presentation
of the financial position and results of operations of the city.
Minneapolis, Minnesota
June 25, 1980 MARLIN J. BOECIO'lANN, C. P . A .
-33-
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I
I CITY OF ST. JOSEPH
ENTERPRISE FUNDS
SCHEDULE OF FIXED ASSETS
For the Year Ended December 31, 1979
I
I Jan. 1 Addi- Deduc- Dec. 31
Balance tions tions Balance
WATER FUND
I Contributed Assets
Land $ 2,336 $ $ $ 2,336
Buildings 280,190 280,190
I Machinery and Equipment 41,201 11,595 1,603 51,193
$323,727 $ 11,595 $ 1,603 $333,719
TOTAL WATER FUND
I PLANT OPERATION AND MAINTENANCE
Contributed Assets
I Land $ 4,941 $ $ $ 4,941
Buildings 443,622 443,622
Machinery and Equipment 13,236 820 14,056
I Construction Work in Progress 2,417 2,417
TOTAL PLANT OPERATION AND
MAINTENANCE $464,216 $ 820 $ 0 $465,036
I ALL ENTERPRISE FUNDS-TOTAL FIXED
ASSETS $787,943 $ 12,415 $ 1,603 $798,755
I
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I -36-
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