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Home My WebLink About1981 Audit Report CITY OF ST. JOSEPH, MINNESOTA TABLE OF CONTENTS December 31, 1981 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 - Budgeted and Actual 6 Statement of Expenditures - Budgeted and Actual 8 Special Revenue Funds: Combining Balance Sheet 11 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 12 Statement of Revenue, Expenditures, and Changes in Fund Balance - Budgeted 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 ì-Jater 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 Statement of General Long-Term Debt 28 Notes to Financial Statements 29 Accountant's Comments on Supplementary Schedules 34 Supplementary Schedules: Combined Schedule of Indebtedness 35 Schedule of Personnel Expenditures 36 Schedule of Fixed Assets, Enterprise Funds 37 General Fixed Assets 38 Combined Statement of Revenues, Expenditures, and Changes in Fund Balance - All Governmental Fund Types 39 CITY OF ST. JOSEPH, MINNESOTA MAYOR, CITY COUNCIL MEMBERS AND CITY CLERK For the Year Ended December 31, 1981 ELECTED OFFICIALS TERM OF OFFICE TERM EXPIRES Mayor Hugo B. Weyrens Two Years 12-31-82 City Council Members Herman Schneider Four Years 12-31-84 Donald Reber Four Years 12-31-82 Steven Dehler Four Years 12-31-82 Michael Husen Four Years 12-31-84 OFFICIAL NOT ELECTED City Clerk Robert G. Johnson -1- MARLIN ]. 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 To the Honorable City Council City of St. Joseph St. Joseph, Minnesota 56374 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, St. Joseph, Minnesota for the year ended December 31, 1981. 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 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. 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 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- 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. Generally accepted accounting principles also require comparison of General Fund and Special Revenue Fund actual revenues and expenditures to a formal budget. A part of the General Fund activity was not formally budgeted, as described in note lF to the Financial Statements. 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 various funds and general long-term debt group of accounts of the City of St. Joseph, St. Joseph, Minnesota, at December 31, 1981 in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Minneapolis, Minnesota ~~~ June 29, 1982 MARLIN J. BOECKMANN, C.P.A. -2- ASSETS Cash Invest Taxes AccoUI Inten Entit] Spec Íé Intraf Amount Due f 1 Due f1 Land Buildj Impro\ Trea tn Ma c h ir Constr TOTAL LIABILITI Liabil Accc Note Bond Intr Due TOTAL Fund E Inve Cont Reta Fund Ap Un TOTAL TOTAL The notes CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND BALANCE SHEET December 31, 1981 ASSETS Cash $ 73,003 Investments 211,381 Taxes Receivable - Delinquent 8,165 Interest Receivable 1,438 Accounts Receivable 5,219 Utilities Receivable - Delinquent 46 Due from 1979 Alley Improvements 4,793 Due from Wastewater Treatment Plant Upgrading 5,567 Due from 1975 Sidewalk Improvement 972 Due from Other Governmental Units 65,654 TOTAL ASSETS $376,238 LIABILITIES AND FUND BALANCE Liabilities: Accounts Payable $ 35,023 Due to Special Assessments 19,252 TOTAL LIABILITIES $ 54,275 Fund Balance: Appropriated: Joint Operating Fire $ 9,428 Street Maintenance 23,607 Police 2,270 35,305 Unappropriated 286,658 TOTAL FUND BALANCE $321,963 TOTAL LIABILITIES AND FUND BALANCE $376,238 The notes to the financial statements are an integral part of this statement. -4- CITY OF ST. ·JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE For the Year Ended December 31, 1981 Revenue $ 439,265 Expenditures and Other Uses 370,944 NET INCREASE IN FUND BALANCE $ 68,321 FUND BALANCE, January 1 253,642 FUND BALANCE, December 31 $ 321,963 The notes to the financial statements are an integral part of this statement. -5- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF REVENUES-BUDGETED AND ACTUAL For the Year Ended December 31, 1981 Actual Over (Under) Budgeted Actual Budget TAXES: General Property Tax $112,500 $ 73,564 $(38,936) LICENSES AND PERMITS: Business Licenses and Permits $ 8,343 Non-Business Licenses and Permits 5,205 TOTAL LICENSES AND PERMITS $ 15,000 $ 13,548 $ (1,452) INTERGOVERNMENTAL REVENUE: State Grants: Local Government Aid $177,721 Homestead Credit 36,298 Operating Fire 7,073 Police 5,510 Mobile Home Homestead Credit 1,038 Machinery Aid 690 TOTAL INTERGOVERNMENTAL REVENUE $178,420 $228,330 $ 49,910 CHARGES FOR SERVICES: Sanitation $ 18,481 Recreation 2,469 Assessment Search 230 Snow Removal 400 Fire Fighting 200 TOTAL CHARGES FOR SERVICES $ 16,000 $ 21,780 $ 5,780 FINES AND FORFEITS: County Court $ 12,391 Police Department 865 TOTAL FINES AND FORFEITS $ 10,000 $ 13,256 $ 3,256 The notes to the financial statements are an integral part of this statement. -6- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF REVENUES - BUDGETED AND ACTUAL For the Year Ended December 31, 1981 (Continued) Actual Over (Under) Budgeted Actual Budget MISCELLANEOUS REVENUES: Interest $ 30,993 Township Share of Joint Fire 19,998 City Hall Improvement Grant 17,000 Rents 8,892 Assessments 3,178 Shade Tree Program 2,200 Refunds 3,581 Miscellaneous 2,945 TOTAL MISCELLANEOUS REVENUES $ 36,230 $ 88,787 $ 52,557 TOTAL REVENUES $368,150 $439,265 $ 71,115 The notes to the financial statements are an integral part of this statement. -7- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES-BUDGETED AND ACTUAL For the Year Ended December 31, 1981 Actual Over (Under) Budgeted Actual Budget GENERAL GOVERNMENT: Mayor and Council - Salaries $ 7,720 $ 7,500 $ (220) Seminars, Travel & Supplies 2,110 1,016 (1,094) Finance-Municipal Clerk - Salaries 31,930 30,901 (1,029) Retirement Contributions 3,840 3,542 (298) Hospitalization Insurance 1,280 1,281 1 Supplies 1,300 1,155 (145 ) Telephone 630 749 119 Repairs and Maintenance 500 275 (225) Seminars 1,000 233 (767) Accounting Services 1,860 2,229 369 Audit 3,540 3,535 (5) Miscellaneous 390 343 (47) Treasurer - Salaries 1,980 1,980 Miscellaneous 160 48 (112) Assessor - Salaries 2,400 2,400 Miscellaneous 300 200 (100) Planning & Zoning 8,520 4,338 (4,182) Legal - Attorney Fees 11 , 000 10,592 (408) Publications 1 , 400 224 (1,176) Engineering Fees 3,390 7,120 3,730 Forester - Shade Tree Programs 2,580 2,580 Emergency Services 160 12 (148) General Government Buildings - City Hall 35,910 27,258 (8,652) City Hall Annex 15,020 10,289 (4,731) Maintenance Shop 5,030 4,721 009 ) TOTAL GENERAL GOVERNMENT $143,950 $124,521 $(19,429) PUBLIC SAFETY: Police Protection - Salaries $ 62,320 $ 59,387 $ (2,933) Hospitalization Insurance 4,060 4,277 217 Insurance General 4,200 2,984 (1,216) Gas, Oil and Service 6,500 4,717 (1, 783) Attorney Fees 7,200 7,332 132 Telephone 1,500 1,355 (145 ) Reservists 1,200 34 (1,166) Clothing Allowance 1,100 1,444 344 The notes to the financial statements are an integral part of this statement. -8- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES-BUDGETED AND ACTUAL For the Year Ended December 31, 1981 (CONTINUED) Actual Over (Under) Budgeted Actual Budget Repairs and Maintenance $ 1,650 $ 2,502 $ 852 Supplies 1,700 2,300 600 Retirement Contributions 7,912 7,912 Capital Outlay 752 752 Continuing Education 310 316 6 Miscellaneous 160 743 583 Fire Protection - Salaries 1,575 1,575 Fires 6,239 6,239 State Aid 7,073 7,073 Insurance 1,658 1,658 Meetings and Drills 3,725 3,725 Pension Contributions 1,200 1,200 Convention and Conferences 981 981 Heat 1,261 1,261 Electricity and Telephone 904 904 Supplies 1,532 1,532 Capital Out lay 5,302 5,302 Repairs and Maintenance 798 798 Miscellaneous 869 869 Animal Control - Supplies 600 123 (477) TOTAL PUBLIC SAFETY $125,617 $129,295 $ 3,678 STREETS AND HIGHWAYS: Streets and Alleys - Salaries $ 36,380 $ 38,609 $ 2,229 Hospitalization Insurance 2,500 2,562 62 Retirement Contributions 4,390 4,171 (219) Insurance - General 4,230 3,325 (905) Supplies 5,440 3,431 (2,009) Repairs and Maintenance 2,280 3,212 932 Capita 1 Outlay 1,176 1,176 Street Sweeping 800 780 (20) Street Lighting - Power and Light 10,000 11,093 1,093 TOTAL STREETS AND HIGHWAYS $ 66,020 $ 68,359 $ 2,339 SANITATION AND WASTE REMOVAL: Refuse Collection & Disposal - Collection Service $ 28,620 $ 28,566 $ (54) Miscellaneous 280 202 (78) The notes to the financial statements are an integral part of this statement. -9- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES-BUDGETED AND ACTUAL For the Year Ended December 31, 1981 (CONTINUED) Actual Over (Under) Budgeted Actual Budget Weed Eradication - Supplies and Repairs $ 205 $ 894 $ 689 Capital Outlay 270 270 Miscellaneous 66 66 TOTAL SANITATION AND WASTE REMOVAL $ 29,105 $ 29,998 $ 893 RECREATION: Recreation Activities and Facilities - Salaries $ 4,890 $ 6,809 $ 1,919 Swim Programs 1,490 346 (1 , 144) Supplies 1,390 401 (989) Ball Park & Skating Rink 810 593 (217) Hockey Rink 650 220 (430) Insurance 840 118 (722 ) Parks and Playground - Supplies 1,200 1,117 (83) '. Maintenance 1,200 1,529 329 Power and Light 230 242 12 Insurance 1,300 911 (389) Seminars 455 455 Miscellaneous 90 238 148 TOTAL RECREATION $ 14,090 $ 12,979 $ (1,111) WASTEWATER TREATMENT PLANT: Repair and Maintenance $ 2,500 $ 3,149 $ 649 TOTAL WASTEWATER TREATMENT PLANT $ 2,500 $ 3,149 $ 649 HISCELLANEOUS: Other $ $ 133 $ 133 TOTAL MISCELLANEOUS $ $ 133 $ 133 TOTAL EXPENDITURES $381,282 $368,434 $(12,848) OTHER USES: Transfers to Other Funds 1970 Water System 2,510 2,510 TOTAL EXPENDITURES AND OTHER USES $381,282 $370,944 $(10,338) The notes to the financial statements are an integral part of this statement. -10- CITY OF ST. 'JOSEPH, MINNESOTA SPECIAL REVENUE FUNDS BALANCE SHEET December 31, 1981 Federal Revenue Sharing ASSETS Cash $ 792 Investments 34,390 Interest Receivable 160 Entitlements Receivable 6,252 TOTAL ASSETS $ 41,594 LIABILITIES AND FUND BALANCE Fund Balance - Unappropriated $ 41,594 TOTAL LIABILITIES AND FUND BALANCE $ 41,594 The notes to the financial statements are an integral part of this statement. -11- CITY OF ST. JOSEPH, HINNESOTA SPECIAL REVENUE FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Year Ended December 31, 1981 Federal Revenue Sharing REVENUES U.S. Treasury $ 24,886 Interest 1,210 TOTAL REVENUES $ 26,096 EXPENDITURES Publication $ 2,442 Debt Redemption 2,100 Interest 1,176 Capital Outlay: Buildings 7,400 Equipment 2,900 Advisory Service 93 Miscellaneous 87 TOTAL EXPENDITURES $ 16,198 NET INCREASE IN FUND BALANCE DURING THIS YEAR $ 9,898 FUND BALANCE, January 1 31,696 FUND BALANCE, December 31 $ 41,594 The notes to the financial statements are an integral part of this statement. -12- CITY OF ST. JOSEPH, MINNESOTA SPECIAL REVENUE FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE- BUDGETED AND ACTUAL For the Year Ended December 31, 1981 Actual Over (Under) Budgeted Actual Budget REVENUES U.S. Treasury $ 24,886 Interest 1,210 TOTAL REVENUES $ 24,000 $ 26,096 $ 2,096 EXPENDITURES Publication $ 2,442 Debt Redemption 2,100 Interest 1,176 Capital Outlay: Buildings 7,400 Equipment 2,900 Advisory Service 93 Miscellaneous 87 TOTAL EXPENDITURES $ 12,500 $ 16,198 $ 3,698 NET INCREASE (DECREASE) IN FUND BALANCE DURING THE YEAR: $ 11, 500 $ 9,898 $ 1,602 FUND BALANCE, January 1 31,696 FUND BALANCE, December 31 $ 41,594 The notes to the financial statements are an integral part of this statement. -13- CITY OF ST. JOSEPH, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET December 31, 1981 Water Treat- Millstream ment Plant Park Upgrading Total ASSETS Cash $ 1,068 $ 2,978 $ 4,046 Investments 7,108 7,108 Interest Receivable 34 34 Due from Other Governmental Units 2,589 2,589 TOTAL ASSETS $ 8,210 $ 5,567 $ 13,777 LIABILITIES AND FUND BALANCE Liabi li ties: Due to Other Funds $ $ 5,567 $ 5,567 TOTAL LIABILITIES $ $ 5,567 $ 5,567 FUND BALANCE 8,210 8,210 TOTAL LIABILITIES AND FUND BALANCE $ 8,210 $ 5,567 $ 13,777 The notes to the financial statements are an integral part of this statement. -14- CITY OF ST. JOSEPH, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Year Ended December 31, 1981 Water Treat- Millstream ment Plant Park Upgrading Total REVENUES State Grant $ 6,800 $ $ 6,800 Donations 250 250 Interest 755 755 TOTAL REVENUES $ 7,805 $ $ 7,805 EXPENDITURES Supplies $ 224 $ $ 224 Miscellaneous 717 717 TOTAL EXPENDITURES $ 941 $ $ 941 NET INCREASE IN FUND BALANCE $ 6,864 $ $ 6,864 FUND BALANCE, January 1 1,346 1,346 FUND BALANCE, December 31 $ 8,210 $ $ 8,210 The notes to the financial statements are an integral part of this statement. -15- ASSETS Cash Investmen Interest Due from I Due from I Special A Current Deferrel Delinqw Intrafund Amoun t Pr, TOTAL ASS] LIABILITIES 1 LiabilitiE Bonds Pi Intrafm Due to ( Total L: Fund Ba lal Debt SeJ TOTAL LIAJ BALANCE The notes to statement. REVENUES Interest Total Reve EXPENDITURES Interest 0 Fees and P Total Expe NET INCREASE BALANCE TRANSFERS (TO FUND BALANCE, FUND BALANCE, The notes to statement. CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING BALANCE SHEET December 31, 1981 Plant Operation Water and Maintenance Total Fund Fund 1981 1980 ASSETS Current Assets: Cash $ 3,436 $ 1,553 $ 4,989 $ 11,436 Investments 27,142 30,002 57,144 28,150 Accounts Receivable 8,987 14,144 23,131 29,284 Interest Receivable 126 139 265 204 Total Current Assets $ 39,691 $ 45,838 $ 85,529 $ 69,074 Fixed Assets: Land $ 2,336 $ 4,941 $ 7,277 $ 7,277 Treatment Plant & Line 280,040 445,922 725,962 723,812 Machinery & Equipment 54,769 16,670 71 , 439 71,007 Construction in Progress 2,417 2,417 2,417 Total Fixed Assets $337,145 $469,950 $807,095 $804,513 TOTAL ASSETS $376,836 $515,788 $892,624 $873,587 LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Current Liabilities: Accounts Payable $ 2,093 $ 2,172 $ 4,265 $ 3,818 Contribution from Special Assessments 219,952 391,610 611,562 611,562 Retained Earnings, Unreserved 154,791 122,006 276,797 258,207 TOTAL LIABILITIES, CONT- RIBUTIONS & RETAINED EARNINGS $376,836 $515,788 $892,624 $873,587 The notes to the financial statements are an integral part of this statement. -18- CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1981 Plant Operation Water and Maintenance Total Fund Fund 1981 1980 REVENUES Sales & Rental Charges $ 33,714 $ 20,453 $ 54,167 $ 49,648 Service & Permits 2,840 70 2,910 4,017 Operation Cost Share 11 , 290 11,290 20,546 Interest 2,848 2,402 5,250 2,699 Miscellaneous 151 211 362 505 TOTAL REVENUES $ 39,553 $ 34,426 $ 73,979 $ 77,415 EXPENSES Salaries $ 13,943 $ 11,418 $ 25,361 $ 23,938 Retirement Contributions 1,635 1,009 2,644 2,483 Hospitalization Insurance 640 1,203 1,843 554 Pumping and Utilities 4,126 5,565 9,691 9,976 Repairs and Maintenance 3,710 665 4,375 3,291 Supplies 2,707 2,019 4,726 5,808 Insurance - General 1,237 824 2,061 4,420 PCA Tests 1,254 1,254 1,100 Filtration 1,260 1,260 978 Inspection Fees 638 638 412 Sales Tax 204 204 159 Miscellaneous 841 491 1,332 1,273 TOTAL EXPENSES $ 30,941 $ 24,448 $ 55,389 $ 54,392 NET INCOME $ 8,612 $ 9,978 $ 18,590 $ 23,023 TRANSFERS FROM (TO) OTHER FUNDS 5,254 RETAINED EARNINGS, January 1 146,179 112,028 258,207 229,930 RETAINED EARNINGS, December 31 $154,791 $122,006 $276,797 $258,207 The notes to the financial statements are an integral part of this statement. -19- CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1981 Plant Operation Water and Maintenance Total Fund Fund 1981 1980 SOURCES OF FINANCIAL RESOURCES Operations Net Income (Loss) for the Year $ 8,612 $ 9,978 $ 18,590 $ 23,023 Add: Items not requiring Current outlay of resources Loss on Disposal of Equipment 355 355 Total Resources Provided by Operations $ 8,967 $ 9,978 $ 18,945 $ 23,023 Transfers from Other Funds 5,254 TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 8,967 $ 9,978 $ 18,945 $ 28,277 USE OF FINANCIAL RESOURCES Aèquisition of Fixed Assets $ 312 $ 2,625 $ 2,937 $ 5,758 TOTAL USES OF FINANCIAL RESOURCES $ 312 $ 2,625 $ 2,937 $ 5,758 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 8,655 $ 7,353 $ 16,008 $ 22,519 COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ (4,752) $ (1,695) $ (6, 447) $ 6,678 Investments 12,782 16,212 28,994 3,310 Accounts Receivable 610 (6,763) (6,153) 11,640 Interest Receivable 22 39 61 64 Accounts Payable (7) (440) (447) 827 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 8,655 $ 7,353 $ 16,008 $ 22,519 The notes to the financial statements are an integral part of this statement. -20- CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPARATIVE BALANCE SHEET December 31, 1981 Year Ended December 31 1981 1980 ASSETS Current Assets: Cash $ 3,436 $ 8,188 Investments 27,142 14,360 Accounts Receivable 8,987 8,377 Interest Receivable 126 104 Total Current Assets $ 39,691 $ 31,029 Fixed Asset!>: Land $ 2,336 $ 2,336 Water Treatment Plant and Lines 280,040 280,190 Machinery and Equipment 54,769 54,662 Total Fixed Assets $337,145 $337,188 TOTAL ASSETS $376,836 $368,217 LIABILITIES, CONTRIBUTIONS & RETAINED EARNINGS Current Liabilities: Accounts Payable $ 2,093 $ 2,086 Contributions from Special Assessments 219,952 219,952 Retained Earnings, Unreserved 154,791 146,179 TOTAL LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS $376,836 $368,217 The notes to the financial statements are an integral part of this statement. -21- CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPARATIVE STATEHENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1981 Year Ended December 31 1981 1980 REVENUES Sales $ 33,714 $ 31,018 Service and Permits 2,840 3,927 Interest 2,848 1,877 Miscellaneous 151 386 TOTAL REVENUES $ 39,553 $ 37,208 EXPENSES Salaries $ 13,943 $ 13,100 Hospitalization Insurance 640 554 Retirement Contributions 1,635 1,561 Pumping and Utilities 4,126 3,850 Repair and Haintenance 3,710 2,845 Supplies 2,707 2,601 Insurance - General 1,237 1,872 Fil tration 1,260 978 Inspection Fee 638 412 Sales Tax 204 159 Hiscellaneous 841 208 TOTAL EXPENSES $ 30,941 $ 28,140 NET INCOME $ 8,612 $ 9,068 RETAINED EARNINGS, January 1 146,179 137,111 RETAINED EARNINGS, December 31 $154,791 $146,179 The notes to the financial statements are an integral part of this statement. -22- CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1981 Year Ended December 31 1981 1980 SOURCES OF FINANCIAL RESOURCES Operations Net Income for the Year $ 8,612 $ 9,068 Add: Items not requiring current outlay of resources Loss on Disposal of Equipment 355 Total Resources Provided by Operations $ 8,967 $ 9,068 TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 8,967 $ 9,068 USE OF FINANCIAL RESOURCES Acquisition of Fixed Assets $ 312 $ 3,469 TOTAL USES OF FINANCIAL RESOURCES $ 312 $ 3,469 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 8,655 $ 5,599 COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ (4,752) $ 4,361 Investments 12,782 (1,770) Accounts Receivable 610 3,057 Interest Receivable 22 13 Accounts Payable (7) (62) NET INCREASE (DECREASE) IN WORKING CAPITAL $ 8,655 $ 5,599 The notes to the financial statements are an integral part of this statement. -23- CITY OF ST. JOSEPH, MINNESOTA PLANT OPERATION AND MAINTENANCE FUND COMPARATIVE BALANCE SHEET December 31, 1981 Year Ended December 31 1981 1980 ASSETS Current Assets: Cash $ 1,553 $ 3,248 Investments 30,002 13, 790 Accounts Receivable 14,144 20,907 Interest Receivable 139 100 Total Current Assets $ 45,838 $ 38,045 Fixed Assets: Land $ 4,941 $ 4,941 Sewer Treatment Plant and Lines 445,922 443,622 Machinery and Equipment 16,670 16,345 Construction in Progress 2,417 2,417 Total Fixed Assets $469,950 $467,325 TOTAL ASSETS $515,788 $505,370 LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Current Liabilities: Accounts Payable $ 2,172 $ 1,732 Contributions from Special Assessments 391,610 391,610 Retained Earnings, Unreserved 122,006 112,028 TOTAL LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS $515,788 $505,370 The notes to the financial statements are an integral part of this statement. -24- CITY OF ST. JOSEPH, MINNESOTA PLANT OPERATION AND MAINTENANCE FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1981 Year Ended December 31 1981 1980 REVENUES Sewer Rental Charges $ 20,453 $ 18,630 Operation Cost Share 11,290 20,546 Interest 2,402 822 Service and Permits 70 90 Miscellaneous 211 119 TOTAL REVENUES $ 34,426 $ 40,207 EXPENSES Salaries $ 11,418 $ 10,838 Hospitalization Insurance 1,203 1,083 Retirement Contributions 1,009 922 Utilities 5,565 6,126 Supplies 2,019 3,207 Repair and Maintenance 665 446 Insurance - General 824 1,465 PCA Tests 1,254 1,100 Miscellaneous 491 1,065 TOTAL EXPENSES $ 24,448 $ 26,252 NET INCOHE $ 9,978 $ 13,955 TRANSFERS FROM OTHER FUNDS 5,254 RETAINED EARNINGS, January 1 112,028 92,819 RETAINED EARNINGS, December 31 $122,006 $112,028 The notes to the financial statements are an integral part of this statement. -25- CITY OF ST. JOSEPH, MINNESOTA PLANT OPERATION AND MAINTENANCE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1981 Year Ended December 31 1981 1980 SOURCES OF FINANCIAL RESOURCES Operations Net Income for the Year $ 9,978 $ 13,955 Add: Items not requiring current Outlay of Resources - Total Resources Provided by Operations $ 9,978 $ 13,955 Transfers from Other Funds 5,254 TOTAL RESO~RCES PROVIDED BY ALL SOURCES $ 9,978 $ 19,209 USE OF FINANCIAL RESOURCES Acquisition of Fixed Assets $ 2,625 $ 2,289 TOTAL USES OF FINANCIAL RESOURCES $ 2,625 $ 2,289 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 7,353 $ 16,920 COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ (1,695) $ 2,317 Investments 16,212 5,080 Accounts Receivable (6,763) 8,583 Interest Receivable 39 51 Accounts Payable (440) 889 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 7,353 $ 16,920 The notes to the financial statements are an integral part of this statement. -26- CITY OF ST. JOSEPH, MINNESOTA STATEMENT OF GENERAL FIXED ASSETS December 31, 1981 GENERAL FIXED ASSETS Land $ 37,163 Buildings 141,055 Improvements other than Buildings 969,716 Equipment 255,660 Construction in Progress 66,853 TOTAL GENERAL FIXED ASSETS $1,470,447 INVESTMENT IN GENERAL FIXED ASSETS FROM: General Fund Revenue $ 347,051 Special Assessments 899,476 Revenue Sharing 155,476 Capital Projects 68,444 TOTAL INVESTMENT IN GENERAL FIXED ASSETS $1,470,447 The notes to the financial statements are an integral part of this statement. -27- CITY OF ST. JOSEPH, MINNESOTA STATEMENT OF GENERAL LONG-TERM DEBT For the Year Ended December 31, 1981 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG-TERM DEBT: NOTE PRINCIPAL Amount to be Provided in Future Years $ 57,434 TOTAL TO BE PROVIDED $ 57, 434 GENERAL LONG-TERH DEBT PAYABLE: GENERAL LONG-TERH DEBT Contract for Deed Notes $ 57,434 TOTAL GENERAL LONG-TERM DEBT PAYABLE $ 57, 434 The notes to the financial statements are an integral part of this statement. -28- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1981 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 indicated in Note lE and lF 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 or Treasury Bills. 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 -29- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1981 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: The 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 1981 the following are the intrafund receivables and (payables). -30- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1981 Schedule of Intrafund receivable and (payables): 1961 1965 1970 1976 Sewer Street Water Street $ 39,489 $ $ (39,489) $ 12,856 (511 ) (12,345) $ 39,489 $ 12,856 $(40,000) $ 12,345 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. D. The city has contracts for deed on certain properties purchased by the city. Note 3 - Retirement Plans 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 in accordance with State Statutes to pay annually the excess of the increase in pension liability for the following year over the pro- jected interest earnings and State contribution 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 1981 contribution requirement of $1,200 was made. The above disclosures are not in accordance with Financial Accounting Standard No. 36. The required information is not available because the Association is not required to report under ERISA. All other 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 1981 was $18,270. The Public Employees Retirement Association is state-wide and an individual city's portion of unfunded reserves is not available because no city is directly liable for any unfunded liability under Minnesota Law. 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 -31- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1981 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: 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 1981. 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 totaling $11,332 to the General Fund which 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 $5,567 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 $972 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 was set up for those expenses paid. The balance at December 31, 1981 is $4,793. 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 1981. The Millstream -32- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1981 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 Mill- stream Park. This project was completed during 1981. An extension State Grant for $6,800 was begun during 1981 to be matched in kind by the city. 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. 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 in 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, General 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, 1981. The entire fund balance at December 31, 1981 is Fund Balance - Debt Service; the part of the Fund Balance that is dedicated to future debt retirement. -33- MARLIN ]. BOECKMANN Certified Public Accountant 4065 82nd Avenue North MEMBER: Minneapolis, Minnesota 55443 American Institute of C. P. A. 's Minnesota Society ofC.P.A. 's COM MEN T S To the Honorable City Council City of St. Joseph St. Joseph, Minnesota 56374 The audited f{nancial statements of the city and its various special fund 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. Hinneapolis, Hinnesota #J,6~ June 29, 1982 MARLIN BOECKMANN, C.P.A. -34- - - - - - - - - - - - - - - - - - - - ""' ~C/1 a ¡--.& ....... ¡-..¡ ....... ....... ....... C/1 I-' t-'. t-'. 0 \0\0\0\0\0\0 '"d CT(JJ 0 ~ '-" >1 (JJ Z -....J-....J-....J-....J0'0' tz: ro 0 ::J 0 (JJ rt 1-3 COCO'¡:"N VI I-' a ::rro >1 rt ro >:0 :J> :J> H 'ö -ro 1-3 1-3 >1 :J> 1-3 H :E:C/1C/1 :J> Q) o..::rro 0 0 C/1(JJ a 0 C/13 C/1Q) rt Q) t-< t-'. 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I-' -....J +:- -....J+:- >-3 0 W 0' 0:> 0'-....JWW'-./ 0 ~ ~ ~ ~ ~ ~ ~ ~ ~ rT -....J \0 -....J 0' \OW+:-N0' 0> \..n -....JO:> \..n N\OW+:-\..n I-' \..n .....+:- W \0+:-+:-0'0 CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS SCHEDULE OF CHANGES IN FIXED ASSETS For the Year Ended December 31, 1981 Jan. 1 Addi- Retire- Dec. 31 Balance tions ments Balance WATER FUND Contributed Assets Land $ 2,336 $ $ $ 2,336 Buildings 280,190 150 280,040 Hachinery and Equipment 54,662 312 205 54,769 TOTAL WATER FUND $337,188 $ 312 $ 355 $337 , 145 PLANT OPERATION AND MAINTENANCE Contributed Assets Land $ 4,941 $ $ $ 4,941 Buildings 443,622 2,300 445,922 Hachinery and Equipment 16,345 325 16,670 Construction Work in Progress 2,417 2,417 TOTAL PLANT OPERATION AND MAINTENANCE $467,325 $ 2,625 $ $469,950 ALL ENTERPRISE FUNDS-TOTAL FIXED ASSETS $804,513 $ 2,937 $ 355 $807,095 -37- CITY OF ST. JOSEPH, MINNESOTA GENERAL FIXED ASSETS SCHEDULE OF CHANGES IN FIXED ASSETS For the Year Ended December 31, 1981 Jan. 1 Addi- Retire- Dec. 31 Balance tions ments Balance Land $ 33,887 $ 3,276 $ $ 37,163 Buildings 102,889 38,166 141,055 Improvements other than Buildings 969,716 969,716 Equipment 243,051 16,694 4,085 255,660 Construction in Progress 66,369 484 66,853 TOTAL GENERAL FIXED ASSETS $1,415,912 $ 58,620 $ 4,085 $1,470,447 -38-- I CITY OF ST. JOSEPH, MINNESOTA I COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES I For the Year Ended December 31, 1981 Governmental Fund Types Total I Special Capital Special Year End December 31 General Revenue Projects Assess. 1981 1980 I REVENUE: Taxes $ 73,564 $ $ $ $ 73,564 $ 62,220 Licenses and Permits 13,548 13 , 548 16,096 Intergovernmental Rev.: I Federal 24,886 6,800 31,686 25,180 State 228,330 228,330 215, 750 Charges for Services 21 , 780 21,780 19,441 I Fines and Forfeits 13,256 13,256 5,976 Other and Interest 88,787 1,210 1,005 98,326 189,328 129,658 TOTAL REVENUES $439,265 $ 26,096 $ 7,805 $ 98,326 $571,492 $474,321 I OTHER SOURCES: Transfers from other I Funds 2,853 2,853 309 TOTAL REVENUES & OTHER I SOURCES $439,265 $ 26,D96 $ 7,805 $101,179 $574,345 $474,630 EXPENDITURES: General Government $124,521 $ $ $ $124,521 $101,792 I Public Safety 129,295 129,295 106,496 Streets & Highways 68,359 68,359 80,316 Sanitation 29,998 29,998 24,802 I Recreation 12,979 12,979 17,284 Wastewater Treatment Plant 3,149 3,149 2,638 I Capital Outlay- Buildings 7,400 7,400 7,400 Equipment 2,900 2,900 9,652 Other and Interest 133 5,898 941 30,707 37,679 44,350 I TOTAL EXPENDITURES $368,434 $ 16,198 $ 941 $ 30,707 $416,280 $394,730 I OTHER USES: Transfers to Other Funds 2,510 2,510 5,563 I TOTAL EXPENDITURES AND OTHER USES $370,944 $ 16,198 $ 941 $ 30,707 $418,790 $400,293 I NET INCREASE (DECREASE) IN FUND- BALANCE DURING THE YEAR $ 68,321 $ 9,898 $ 6,864 $ 70,472 $155,555 $ 74,337 I FUND BALANCE, January 1 253,642 31,696 1 , 346 296,090 582,774 508,437 FUND BALANCE, December 31 $321,963 $ 41,594 $ 8,210 $366,562 $738,329 $582,774 I -39-