HomeMy WebLinkAbout1983 Audit Report
CITY OF ST. JOSEPH, MINNESOTA
AUDITED FINANCIAL STATEMENT
FOR THE YEAR ENDED
DECEMBER 31, 1983
MARLIN J. BOECKMANN
Certified Public Accountant
Minneapolis, Minnesota
I
CITY OF ST. JOSEPH, MINNESOTA
TABLE OF CONTENTS
December 31, 1983
Reference Page
1. INTRODUCTORY SECTION
Ci ty Officials 1
II. FINANCIAL SECTION
A. General Purpose Financial Statements
Auditor's Report 2
Combined Balance Sheet - All Fund Types and Account
Groups Exhibit 1 3
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balance-All Government Fund Types Exhibit 2 4
Combined Statement of Revenue, Expenditures, and
Changes in Fund Balance - Budgeted and Actual -
General and Special Revenue Fund Types Exhibit 3 5
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Proprietary Fund Type Exhibit 4 6
Statement of Changes in Financial Position - Pro-
prietary Fund Type Exhibit 5 7
Notes to the Financial Statements 8
B. Combining and Individual Fund and Account Group
Statements and Schedules
General Fund -
Balance Sheet Exhibit A-I 16
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budgeted and Actual Exhibit A-2 17
Schedule of Revenues - Budgeted and Actual Exhibit A-3 18
Schedule of Expenditures - Budgeted and Actual Exhibit A-4 20
Special Revenue Funds -
Balance Sheet Exhibit B-1 23
Statement of Revenues, Expenditures, and Changes
in Fund Balance Exhibit B-2 24
Statement of Revenues, Expenditures, and Changes
in Fund Balances - Budgeted and Actual Exhibit B-3 25
Combining Projects Funds -
Combining Balance Sheet Exhibit C-l 26
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance Exhibit C-2 27
Special Assessment Funds -
Combining Balance Sheet Exhibit D-l 28
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances Exhibit D-2 29
Enterprise Funds -
Combining Balance Sheet Exhibit E-l 30
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings Exhibit E-2 31
Combining Statement of Changes in Financial
Position Exhibit E-3 32
Schedule of Changes in Fixed Assets Exhibit E-4 33
General Fixed Asset Group of Accounts -
Statement of General Fixed Assets Exhibit F-l 34
Statement of General Fixed Assets by Fund Exhibit F-2 35
General Long-Term Debt Group of Accounts -
Statement of General Long-Term Debt Exhibit G-l 36
Combined Schedule of Indebtedness Exhibit G-2 37
CITY OF ST_ JOSEPH. MINNESOTA
CITY OFFICIALS
For the Year Ended December 31. 1983
ELECTED OFFICIALS TERM OF OFFICE TERM EXPIRES
Mayor Michael Loso Two Years 12-31-84
Councilman Michael Husen Four Years 12-31-84
Councilman Herman Schneider Four Years 12-31-84
Councilman Steven Dehler Four Years 12-31-86
Councilman Donald Reber Four Years 12-31-86
OFFICIALS NOT ELECTED
City Clerk
Robert G- Johnson
Ci ty Treasurer
Leo Sad10
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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
To the Honorable City Mayor and Members
of the City Council
City of St. Joseph
St. Joseph, Minnesota 56374
We have examined the balance sheets 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, 1983, and the re-
lated statement of revenue, expenditures, and changes in fund balances
for the year then ended. Our examination was made in accordance with
generally accepted auditing standards and accordingly included such tests
of the accounting records and such other auditing procedures as we con-
sidered necessary in the circumstances, except that we did not examine the
General Fixed Assets and the Enterprise Fund's 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 General Fixed Assets and the Enterprise
Fund's fixed assets, accordingly, we express no opinion thereon. Also,
under generally accepted accounting principles, depreciation is recorded on
tangible long-lived assets of proprietary funds. Depreciation has not been
taken on the Water Fund's and Plant Operation and Maintenance Fund's tang-
ible long-lived assets. The effects of this departure from generally
accepted accounting principles on the accompanying financial statements
have not been determined.
In our opinion, except for the General Fixed Assets, Enterprise Fund's
fixed assets, and non-depreciation of proprietary fixed assets referred to
above, the aforementioned 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, 1983 in
conformity with generally accepted accounting principles applied on a basis
consistent with that of the preceding year.
Minneapolis, Minnesota ~L~
June 15, 1984 MARLIN J. BOECKMANN, C.P.A.
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EXHIBIT 2
CITY OF ST. JOSEPH, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
ALL GOVERNMENT FUND TYPES
For the Year Ended December 31, 1983
To ta 1
Governmental Fund Types (Memorandum Only)
Special Capital Special Year Ended December
General Revenue Projects Assess. 31, 1983 31, 1982
REVENUES:
Taxes $ 93,580 $ $ $ $ 93,580 $ 89,154
Licenses and Permits 16,253 16,253 18,096
Intergovernmental Revenue:
Federal 36,430 36,430 27,884
State 293,060 293,060 229,239
Charges for Services 26 ,803 26,803 24,987
Fines and Forfeits 15 ,976 15,976 18,531
Assessments 497,918 497,918 0
Other and Interest 42,990 5,869 876 73,108 122,843 166,666
TOTAL RE VENUES $488,662 $ 42,299 $ 876 $571,026 $1,102,863 $574,557
OTHER SOURCES:
Transfers from other Funds 2,979 2,313 5,292 2,412
TOTAL REVENUES & OTHER
SOURCES $488,662 $ 42,299 $ 3,855 $573,339 $1,108,155 $576,969
EXPENDITURES:
General Government $ 95,558 $ $ $ $ 95,558 $121,115
Public Safety 167,353 167,353 164,549
Streets and Highways 91 , 129 91 , 129 79,663
Sanitation 27,448 27 ,448 32,554
Recreation 13 ,869 13 ,869 17,455
Capital Outlay -
Equipmen t 18,179 1,867 20,046 10,633
Other 330,982 330,982 0
Other and Interest 10,769 10,386 3,204 30,853 55,212 32,515
TOTAL EXPENDITURES $406,126 $ 28,565 $ 5,071 $361,835 $ 801,597 $458,484
OTHER USES:
Transfers to Other Funds 2,313 2,313 2,412
TOTAL EXPENDITURES AND
OTHER USES $408,439 $ 28,565 $ 5,071 $361,835 $ 803,910 $460,896
NET INCREASE (DECREASE) IN
FUND BALANCE DURING THE YEAR $ 80,223 $ 13,734 $ (1,216)$211,504 $ 304,245 $116,073
PRIOR PERIOD ADJUSTMENT
(Note 9) 25 ,623 (25,623)
FUND BALANCE, January 1 346,667 62,301 8,921 436,513 854,402 738,329
FUND BALANCE, December 31 ~~~~~~1~ ~=Z~~Q~~ ~=Z~ZQ~ ~~~~~~2~ gl~l~~~~~Z g~~~~~Q~
The notes to the financial statements are an integral part of this statement.
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EXHIBI T 4
CITY OF ST. JOSEPH, MINNESOTA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPE
For the Year Ended December 31, 1983
1983 1982
OPERATING REVENUE:
Water Revenue $ 41,797 $ 35,879
Plant Operation and Maintenance 61,815 40,248
TOTAL $103,612 $ 76,127
OPERATING EXPENSES:
Water Revenue $ 35,590 $ 33,953
Plant Operation and Maintenance 42,602 36,409
TOTAL $ 78,192 $ 70,362
OTHER USES:
Transfers to Other Funds $ 2,979
TOTAL $ 81,171 $ 70,362
OPERATING INCOME $ 22,441 $ 5,765
OTHER INCOME (EXPENSE):
Interes t Income $ 3,700 $ 5,294
TOTAL OTHER INCOME $ 3,700 $ 5,294
NET INCOME $ 26,141 $ 11 ,059
RETAINED EARNINGS, January 1 287,856 276,797
RETAINED EARNINGS, December 31 ~~1~422Z £~~Z4~~~
-
The notes to the financial statements are an integral part of this statement.
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EXHIBIT 5
CITY OF ST. JOSEPH, MINNESOTA
STATEMENT OF CHANGES IN FINANCIAL POSITION-
PROPRIETARY FUND TYPE
For the Year Ended December 31, 1983
1983 1982
FUNDS PROVIDED:
Operations:
Net Income $ 26,141 $ 11 ,059
Add (deduct) Items not Affecting Working
Capital:
Loss on Disposal of Equipment 950
Total Funds Provided by Operations $ 27 ,091 $ 11 ,059
FUNDS APPLIED:
Additions to Plant and Equipment 6,404 $ 7,510
INCREASE IN WORKING CAPITAL £=~Q4~~Z £==~4~~2
REPRESENTED BY CHANGES IN:
Current Assets - increase (decrease):
Cash $ 13,729 $ 22,152
Investments (6,520 ) (18,119)
Accounts Receivable 10,403 3,748 ,
Interest Receivable (231 ) 112
Total Current Assets $ 17,381 $ 7,893
Current Liabilities - increase (decrease)
Accounts Payable $ 3,306 $ (4,344)
Total Current Liabilities $ 3,306 $ (4,344)
INCREASE IN ~ORKING CAPITAL ~=~£4~~Z $ 3 549
====4===
The notes to the financial statements are an integral part of this statement.
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CITY OF ST. JOSEPH, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
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 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,
capital projects, special assessments, 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 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 collect-
ible, 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
available in certificates of deposit or Treasury Bills. Earnings from
such investments are allocated to the funds on the basis of applic-
able 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.
E. Depreciation:
Enterprise Funds -
Generally accepted accounting principles require that depreciation be
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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:
Except for the three activities described in Note 5 to the Statements,
the city utilizes an annual budget for the General Fund and Revenue
Sharing Fund. The three activities - Joint Operating Fire, Special
Police, and Special Street Maintenance - are part of the General Fund,
and their actual results were merged into both the budgeted and actual
columns of the Statements of Revenues and Expenditures - Budgeted and
Ac tual.
Note 2 - Long Term Debt
The city has $836,500 of bonds payable outstanding, as described in the
Special Assessment Fund Balance Sheet. These bonds are the primary
obligation of the benefited assessees, but in the event of their default
are backed by the full faith and credit of the ci ty .
The city does not have any general obligation bonds outstanding, but
does have two Contracts for Deed, as described in the Statement of General
Long-Term Debt, that are backed by the full faith and credit of the city.
See Supplementary Financial Information - Combined Schedule of Indebted-
ness and Note 12 to the Statements for more detailed information on the
long-term debt.
Note 3 - Retirement Plans
The Volunteer Firemen's Relief Fund is a pension plan financed by contri-
butions from the state, city and St. Joseph Township. The city is obli-
gated to contribute to the Fund according to a formula that compares the
growth in the estimated pension liability to the annual estimated state
aid and interest earnings of the pension fund. In 1983, the city con-
tributed $1,200 to the fund and at December 31, 1983, had no additional
payment obligation.
Early in 1984 the city council passed an ordinance that approved the
increase of the volunteer firemen's lump sum pension benefit payment from
$8,000 to $12,000 for retirement after 20 years of service. Though the
action does not affect the 1983 financial statements, it is anticipated
to result in a deficit from full funding of about $40,000 at the end of
1984. Assuming stable membership and state aid in 1984, the city's
obligation for funding this deficit will be roughly $3,500 for 1984, to
be paid in 1985. The city will continue to have an obligation to pay in
later years until the deficit is eliminated.
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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 for 1983 was $14,365. 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 - Reclassification
Various items in the financial statements have been reclassified to
conform with the State of Minnesota's revised Uniform Chart of Accounts.
Though the categories and detail within certain funds changed, the
conversion had no effect on the totals of any of the fund's statements.
Note 5 - Deferred Revenues
The General Fund records as Deferred Revenues money which has been
received for three specific purposes, but which at year end has not yet
been expended for those purposes. These activities 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.
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 Genera 1 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.
In past years these unspent year-end balances were recorded on the General
Fund Balance Sheet as "Appropriated Fund Balance."
Note 6 - Description of the Kinds of Financial Activity Described in the
Various Funds
The General Fund describes the ongoing current financial activities of
the general activities of government. Special activities are described
in separate funds as follows:
A. Special Revenue Funds, like the General Fund, describe
ongoing financial activities, but the money is earmarked by
statute or agencies for certain kinds of spending. Federal
Revenue Sharing is currently the only Special Revenue Fund.
B. Capital Projects Funds record the proceeds and expendi-
tures dedicated to spending on construction projects that
benefit the city and its ci ti zens as a whole. The ci ty had
two capital projects in 1983, one for upgrading Millstream Park
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and the other for upgrading the wastewater treatment plant.
C. Special Assessments Funds record the proceeds and exp-
enditures for construction that benefits certain segments of
the city and its citizens, and only incidentally benefits
the city as a whole. The benefited parties have the primary
obligation to pay for the construction, so the Special Assess-
ment Funds must account for the long-term financing of the
work done as well as for the construction. In 1983, there
were 11 Special Assessments for which financing of past con-
struction is described, and one, Clinton Village Addition, for
which both financing and current construction are described.
D. Proprietary Funds describe the financial activities of
entities owned by the city that are similar to private business.
As quasi businesses, they utilize full accrual accounting,
unlike the modified accrual accounting used by the governmental
funds described above. The city has two Proprietary enterprise
funds, the Water and the Wastewater treatment plants.
Note 7 - Project Cancellation
In past years the city has been involved in a Wastewater Treatment
Plant upgrading project providing for 75% financing by the Federal Govern-
ment, 15% by the State of Minnesota and 10% by the city. In the early
stages of the project, certain expenditures were made and at the end of
1983, the General Fund had paid $5,567 more than its 10% share, so had a
receivable of that amount from the Wastewater Plant Upgrading Capital
Project. The Capital Project, in turn, had a $2,589 anticipated receiv-
able from other governments. During 1983 the project was cancelled by
higher levels of government, and the above described receivables were
cancelled.
Note 8 - Special Assessment Revenues
There is a current controversy concerning whether Special Assessment
Funds should record special assessments revenue when levied or wait until
the assessments installments receivables become due from the assessees.
Both methods are consistent with generally accepted accounting principles.
The city has elected to continue its practice of recording the revenue
when the assessment is levied.
Note 9 - Prior Period Adjustment
In past years the Special Assessments Funds accumulated each year's
excess of property taxes dedicated to Special Assessments over actual
collection of those levies in a "Due from General Fund" account. Corres-
pondingly, the General Fund recorded a liability to Special Assessments.
The General Fund is not responsible for this excess of levies due over
collection, and the amount of the liability at the beginning of 1983,
$25,623 was cancelled, and the General Fund Balance was increased by that
amoun t.
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The writeoff of the receivable from General Fund, totaling $25,623,
was charged against the Fund Balances of the affected Special
Assessment Funds.
Note 10 - Related Agencies
Statement 3 of the National Committee on Governmental Accounting
requires municipalities to apply certain criteria to determine whether
related agencies should be included in the municipalities financial
s ta tements. The City of St. Joseph has considered its oversight
responsibilities to other agencies, financial interdependence with
them, and the other criteria stipulated in Statement 3, and has
concluded that no outside agencies' activity should be included in
the city's financial statements. The city's conclusions are consis-
tent with the interpretations of the Minnesota Society of Certified
Public Accountants' Technical Development's Review Committee, as
described on Pages 6 and 7 of its letter dated November 11, 1983.
Note 11 - Clinton Village Addition Bond Discount
The Clinton Village Addition Special Assessment Bonds, in the face
amount of $485,000, were sold for $476,755. The difference between
these, a discount of $8,245, was written off as an expenditure
in 1983.
Note 12 - Detailed Indebtedness Schedules
Schedule A
CITY OF ST. JOSEPH
SCHEDULE OF INDEBTEDNESS - BONDS PAYABLE
December 31, 1983
Beginning New Retirement Ending
Bond Balance Bond of Bond Balance
1-01-83 Issues Bonds 12-31-83
Special Assessment Bonds:
1961 Sanitary Sewer $ 60,000 $ $ 15,000 $ 45,000
1965 Street Improvement 30,000 5,000 25,000
1972 Water & Sewer Improvement 80,000 10,000 70,000
1974-A Street Improvement 5,000 2,500 2,500
1978 Improvement-East Side 190,000 15,000 175,000
1978-A Street Improvement 37 , 000 3,000 34,000
1983 Improvement 0 485,000 485,000
Total Special Assessment
Bonds £~£~4£££ £~~~4£££ ~=~£4~££ ~~~~4~££
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Note 13 - Subsequent Event
The City Council has agreed to defer collection of a portion of the
May 15, 1984 balance due on special assessments from the developer of
the Clinton Village Addition development sites. Of the $44,696.82
due on that date, $14,365.00 was deferred, without interest charges, to
the next regular assessment installment date, October 15, 1984.
Accordingly, the amount due on that latter date will be the regular
$44,696.82 installment plus the $14,365.00 amount described above.
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EXHIBIT A-I
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
BALANCE SHEET
December 31, 1983
1983 1982
ASSETS
Cash $297,750 $ 82,782
Investments 168 , 1 73 297,385
Taxes Receivable - Delinquent 10,253 7,171
Interest Receivable 731 3,394
Accounts Receivable 6,368 6,408
Due from 1979 Alley Improvements 1,506 3,135
Due from Wastewater Treatment Plant Upgrading 5,567
Due from 1975 Sidewalk Improvement 414 621
Due from Other Governmental Ùnits 1,271 1,477
TOTAL AS SETS £~~~4~~~ ~~£Z42~£
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts Payable $ 33,953 $ 33,524
Due to Special Assessments 25 ,623
Firemen's Relief Pension Fund Payable 2,126
TOTAL LIABILITIES $ 33,953 $ 61,273
Fund Balance:
Appropriated $ 55,428 $ 41,937
Unappropriated 397,085 304,730
TOTAL FUND BALANCE $452,513 $346,667
TOTAL LIABILITIES AND FUND BALANCE ~~~~4~~~ ~~£Z42~£
The notes to the financial statements are an integral part of this statement.
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EXHIBIT A-2
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
1983
Ac tua1
Over
(Under) 1982
Budgeted Actual Budget Actual
REVENUES:
General Property Tax $ 94,000 $ 93,580 $ (420 ) $ 89,154
Licenses and Permits 14,000 16,253 2,253 18,096
Intergovernmental Revenue 243,675 293,060 49,385 229,239
Charges For Services 20,000 26,803 6,803 24,987
Fines and Forfeits 17 ,000 15,976 0,024) 18,531
Other 25,200 42,990 17, 790 67,334
TOTAL REVENUE $413 ,875 $488,662 $ 74,787 $447,341
EXPENDITURES:
General Government $128,820 $ 95,558 $(33,262) $121,115
Public Saf ety 144,091 167,353 23,262 164,549
Streets and Highways 80,036 91,129 11 ,093 79,663
Sanitation and Waste Removal 27,705 27 ,448 ( 25 7 ) 32,554
Recreation 16,375 13,869 (2,506) 17 ,455
Other 10,769 10,769 4,889
TOTAL EXPENDITURES $407,796 $406,126 $ 0,670) $420,225
OTHER USES:
Transfers to Other Funds $ $ 2,313 $ 2,313 $ 2,412
TOTAL EXPENDITURES AND OTHER USES $407,796 $408,439 $ 643 $422,637
NET INCREASE IN FUND BALANCE ~==~42Z2 $ 80,223 ~=Z~41~~ $ 24, 704
PRIOR PERIOD ADJUSTMENT (Note 9) 25,623
FUND BALANCE, January 1 346,667 321,963
FUND BALANCE, December 31 £~~~4~1~ £~~~4~~Z
The notes to the financial statements are an integral part of this statement.
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EXHIBIT A-3
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
SCHEDULE OF REVENUES - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
1983 1982
Ac tual
Over
(Under)
Budgeted Actual Budget Actual
TAXES:
General Property Taxes $ 94,000 $ 93,580 $ (420 ) $ 89,154
LICENSES AND PERMITS:
Business Licenses and Permits $ 9,000 $ 9,158 $ 158 $ 9,016
Non-Business Licenses and Permits 5,000 7,095 2,095 9,080
TOTAL LICENSES AND PERMITS $ 14,000 $ 16,253 $ 2,253 $ 18,096
INTERGOVERNMENTAL REVENUE:
State Grants:
Local Government Aid $192,524 $192,524 $ $168,401
Homestead Credit 50,451 51,156 705 36,149
Operating Fire-State Aid 7,439 7,439 7,496
Operating Fire-Township Share 22,435 22,435 22,168
Police 10,360 10,360 8,981
Reduced Assessment 7,472 7,472 6,720
Mobile Home Homestead Credit 988 988 837
Machinery Aid 700 686 (14) 655
TOTAL INTERGOVERNMENTAL REVENUE $243,675 $293,060 $ 49,385 $251,407
CHARGES FOR SERVICES:
Sanitation $ 20,000 $ 22,205 $ 2,205 $ 21,761
Recreation 3,898 3,898 3,026
Assessment Search 150 150 150
Snow Removal 550 550 50
TOTAL CHARGES FOR SERVICES $ 20,000 $ 26,803 $ 6,803 $ 24,987
FINES AND FORFEITS:
County Court $ 14,000 $ 13 ,833 $ (167) $ 16,736
Police Department 3,000 2,143 ( 85 7 ) 1,795
TOTAL FINES AND FORFEITS $ 17 ,000 $ 15,976 $ (1,024) $ 18,531
The notes to the financial statements are an integral part of this statement.
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EXHIBIT A-3
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
SCHEDULE OF REVENUES - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
(Continued)
1983 1982
Ac tual
Over
(Under)
Budgeted Actual Budget Actual
OTHER REVENUES:
Interest $ 16,000 $ 24,902 $ 8,902 $ 25,684
City Hall Improvement Grant 3,000
Ren ts 7,200 7,232 32 8,560
Assessments 2,027
Shade Tree Program 1,008
Refunds 5,820 5,820 4,530
Other 2,000 5,036 3,036 357
TOTAL OTHER REVENUES $ 25,200 $ 42,990 $ 17, 790 $ 45,166
TOTAL REVENUES £~1~4~Z~ £~~~4~~~ ~=Z~4Z~Z ~~~Z4~~1
The notes to the financial statements are an integral part of this statement.
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EXHIBIT A-4
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
1983 1982
Actual
Over
(Under)
Budge ted Actual Budget Actual
GENERAL GOVERNMENT:
Ma yor and Counc i 1 :
Salaries $ 7,520 $ 7,370 $ 050 ) $ 7,220
Seminars, Travel & Supplies 1,625 2,411 786 1,934
Capi tal Outlay 124 124
Elections-Voter Registration
Salaries 961
Miscellaneous 201
Finance-Municipal Clerk
Salaries 41,230 37,640 (3,590) 34,315
Retirement Contributions 5,070 4,680 (390 ) 4,184
Hospitalization Insurance 2,640 1,827 (813) 1,272
Supplies 1,500 1,077 (423 ) 1,357
Te lephone 1,400 1,178 (222) 1,089
Repairs and Maintenance 370 492 122 325
Seminars 500 89 (411 ) 233
Audit 6,500 6,696 196 2,893
Accounting 1,985 1,985
Miscellaneous 601 519 (82) 899
Treasurer
Salaries 2,395 2,158 ( 23 7 ) 2,158
Miscellaneous 120 80 (40 ) 311
Assessor
Salaries 2,904 2,616 (288 ) 2,606
Miscellaneous 465 277 (188 ) 270
Planning and Zoning 9,844 7,457 (2,387) 7,919
Legal
Attorney Fees 17 ,000 4,228 02,772) 7,724
Publications 850 901 51 1,061
Engineering Fees 6,500 2,695 (3 , 805 ) 4,191
Forester - Shade Tree Program 1,675 (1,675) 456
Emergency Services 50 (50) 53
General Government Buildings
City Hall 3,025 3,849 824 21,714
City Hall Annex 10,731 5,209 (5,522) 11 ,246
Maintenance Shop 4,305 (4,305) 4,523
TOTAL GENERAL GOVERNMENT $128,820 $ 95,558 $(33,262) $121,115
PUBLIC SAFETY:
Police Protection
Salaries $ 78,833 $ 70,046 $ (8,787) $ 75,111
Hospitalization Insurance 5,418 5,744 326 5,086
Insurance General 6,000 3,647 (2,353) 5,020
Gas, Oil and Service 6,400 4,494 0,906) 5,104
Attorney Fees 16,000 11 ,485 (4,515) 13 ,320
Te lephone 1,600 1,736 136 1,726
The notes to the financial statements are an integral part of this statement.
-20-
EXHIBIT A-4
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
1983 1982
Actual
Over
(Under)
Budgeted Actual Budget Actual
Reservists $ 300 $ 56 $ (244 ) $ 113
Clothing Allowance 1,440 1,290 (150) 1,350
Repairs and Maintenance 2,600 2,525 (75 ) 1,623
Supplies 3,200 1,542 0,658) 1,322
Retirement Contributions 10,258 10,258 11 ,034
Capital Outlay 1,669 1,669
Unemployment Compensation 2,784 2,784
Continuing Education 550 550 443
Police Investigation 7,000 12,483 5,483 8,064
Other 100 228 128 76
Fire Protection
Salaries 1,566 1,566 1,520
Fires 6,271 6,271 5,148
State Aid 7,163 7,439 276 7,496
Insurance 3,641 3,641 3,552
Meetings and Drills 4,095 4,095 4,748
Pension Contributions (926 ) (926 ) 3,326
Convention and Conferences 1,084 1,084 722
Heat 988 988 750
Electricity and Telephone 2,083 2,083 1,244
Supplies 1,280 1,280 1,711
Capital Outlay 5,899 5,899 2,609
Repairs and Maintenance 2,682 2,682 1,336
Other 662 662 942
Allimal Control 200 52 ( 148 ) 53
TOTAL PUBLIC SAFETY $144,091 $167,353 $ 23,262 $164,549
STREETS AND HIGHWAYS:
Streets and Alleys
Salaries $ 43,618 $ 48,472 $ 4,854 $ 45,255
Hospitalization Insurance 3,018 3,653 635 2,543
Retirement Contributions 5,700 5,478 (222) 5,038
Insurance General 3,500 3,405 (95 ) 3,934
Suppl ies 4,700 5,860 1,160 4,923
Repairs and Maintenance 4,500 6,188 1,688 4,080
Capital Outlay 3,519 3,519 264
Street. Sweeping 1,000 902 (98 ) 774
Other 91 91 40
Street Lighting
Power and Light 14,000 13,561 ( 43 9 ) 12,812
TOTAL STREETS AND HIGHWAYS $ 80,036 $ 91,129 $ 11 ,093 $ 79,663
SANITATION AND WASTE REMOVAL:
Refuse Collection & Disposal
The notes to the financial statements are an integral part of this statement.
-21-
EXHIBIT A-4
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGETED AND ACTUAL
For the Year Ended December 31, 1983
1983 1982
Ac tual
Over
(Under)
Budgeted Actual Budget Actual
Collection Service $ 27,000 $ 27,020 $ 20 $ 32,160
Other 280 262 (8) 353
Weed Eradication 425 166 ( 259 ) 41
TOTAL SANITATION AND WASTE REMOVAL $ 27,705 $ 27,448 $ ( 25 7 ) $ 32,554
RECREATION:
Recreation Activities and Facilities
Salaries $ 8,000 $ 7,135 $ (865) $ 7,115
Swim Programs 425 98 (327) 360
Supplies 800 1,234 434 739
Ball Park & Skating Rink 575 366 (209 ) 1,070
Hockey Rink 825 230 (595 ) 781
Insurance 500 35 (465 ) 181
Bus Service 200 68 (132) 188
Other 50 30 (20)
Parks and Playgrounds
Salaries 300 240 (60 ) 257
Supplies 1,300 1,671 371 1,608
Maintenance 1,500 1,129 (371) 868
Power and Light 325 294 (31) 261
Insurance 1,000 283 (717) 392
Seminars 450 280 (170) 305
Other 125 580 455 222
Capital Outlay 196 196 3,108
TOTAL RECREATION $ 16,375 $ 13 ,869 $ (2,506) $ 17,455
OTHER:
Other $ 10,769 $ 10,769 $ $ 4,889
TOTAL OTHER $ 10,769 $ 10,769 $ $ 4,889
TOTAL EXPENDITURES $407,796 $406,126 $ (1,670) $420,225
OTHER USES:
Transfers to Other Funds
1970 Water Systems 2,313 2,313 2,412
TOTAL EXPENDITURES AND OTHER USES £~£Z4Z2~ £~£~:!:~~2 £====~~~ ~~~~4~~Z
The notes to the financial statements are an integral part of this statement.
-22-
EXHIBIT B-1
CITY OF ST. JOSEPH, MINNESOTA
SPECIAL REVENUE FUNDS
BALANCE SHEET
December 31, 1983
Federal Revenue
Sharing
1983 1982
ASSETS
Cash $ 11 ,549 $ 1,349
Inves tmen ts 55,000 51,399
Interest Receivable 249 426
Entitlements Receivable 9,237 9,127
TOTAL ASSETS £=Z~42~~ £=~~4~21
LIABILITIES AND FUND BALANCE
Fund Balance - Unappropriated $ 76,035 $ 62,301
TOTAL LIABILITIES AND FUND BALANCE ~=Z~42~~ $ 62 30 1
====4===
The notes to the financial statements are an integral part of this statement.
-23-
EXHIBIT B-2
CITY OF ST. JOSEPH, MINNESOTA
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 1983
Federal Revenue
Sharing
1983 1982
REVENUES
U . S. Treasury $ 36,430 $ 27,884
Interest 5,869 4,355
TOTAL REVENUES $ 42,299 $ 32,239
EXPENDITURES
Publications $ 9,390 $ 1,030
Capital Outlay:
Police Car 8,007
Equipment 18 , 1 79 2,398
Library Study 843
Advisory Service 108 97
Other 45
TOTAL EXPENDITURES $ 28,565 $ 11 ,532
NET INCREASE IN FUND BALANCE DURING
THIS YEAR $ 13,734 $ 20,707
FUND BALANCE, January 1 62,301 41,594
FUND BALANCE, December 31 ~=Z~42~~ ~=~~4~21
The notes to the financial statements are an integral part of this statement.
-24-
EXHIBIT B-3
CITY OF ST. JOSEPH, MINNESOTA
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Year Ended December 31, 1983
1983 1982
Actual
Over
(Under)
Budgeted Actual Budget Actual
REVENUES
U.S. Treasury $ 32,000 $ 36,430 $ 4,430 $ 27,884
Interest 5,600 5,869 269 4,355
TOTAL REVENUES $ 37,600 $ 42,299 $ 4,699 $ 32,239
EXPENDITURES
Publications $ 2,000 $ 9,390 $ 7,390 $ 1,030
Capital Outlay:
Equipment 35,600 18,179 (17,421) 8,007
Library Study 842 842 2,398
Advisory Service 108 108 97
Other 46 46
TOTAL EXPENDITURES $ 37,600 $ 28,565 $ (9,035) $ 11,532
NET INCREASE (DECREASE) IN FUND
BALANCE DURING THE YEAR £======2 $ 13,734 ~=1~4Z~~ $ 20,707
FUND BALANCE, January 1 62,301 41,594
FUND BALANCE, December 31 ~=Z~42~~ ~=~~4~21
The notes to the financial statements are an integral part of this statement.
-25-
EXHIBIT C-l
CITY OF ST. JOSEPH, MINNESOTA
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
December 31, 1983
Water Treat- Total
Mi 11 stream ment Plant December December
Park Upgrading 31, 1983 31, 1982
ASSETS
Cash $ 1,354 $ $ 1,354 $ 3,010
Inves tmen ts 6,322 6,322 8,812
Interest Receivable 29 29 77
Due from Other Governmental Units 2,589
TOTAL ASSETS £==Z4Z2~ £======= ~==Z4Z2~ £=1~4~~~
LIABILITIES AND FUND BALANCE
Liabili ties:
Due to Other Funds $ $ $ $ 5,567
TOTAL LIABILITIES $ $ $ $ 5,567
FUND BALANCE 7,705 7,705 8,921
TOTAL LIABILITIES AND
FUND BALANCE £==Z4Z2~ £======= ~==Z4Z2~ ~=1~4~~~
The notes to the financial statements are an integral part of this statement.
-26-
EXHIBIT C-2
CITY OF ST. JOSEPH, MINNESOTA
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 1983
Water Treat- Total
Millstream ment Plant December December
Park Upgrading 31, 1983 31, 1982
REVENUES
Employee Aid - Township $ 175 $ $ 175 $ 175
Refund 20
Interest 701 701 919
TOTAL REVENUES $ 876 $ $ 876 $ 1,114
OTHER REVENUE
Transfer from Other Funds 2,979 2,979
TOTAL REVENUES AND TRANSFERS $ 876 $ 2,979 $ 3,855 $ 1,114
EXPENDITURES
Write-off Wastewater Upgrade
Engineering $ $ 2,979 $ 2,979 $
Student Work Program 175 175 175
Capital Outlay 1,867 1,867 228
Other 50 50
TOTAL EXPENDITURES $ 2,092 $ 2,979 $ 5,071 $ 403
NET INCREASE (DECREASE) IN FUND
BALANCE $ (1,216) $ $ 0,216) $ 711
FUND BALANCE, January 1 8,921 8,921 8,210
FUND BALANCE, December 31 ~==Z4Z2~ £======= £==Z4Z2~ ~==~42~1
The notes to the financial statements are an integral part of this statement.
-27-
EXHIBIT E-l
CITY OF ST. JOSEPH, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 1983
Plant Operation
Water and Maintenance Total
Fund Fund 1983 1982
ASSETS
Current Assets:
Cash $ 16,980 $ 23,890 $ 40,870 $ 27,141
Investments 22,824 9,680 32,504 39,024
Accounts Receivable 10,456 26,826 37,282 26,879
Interest Receivable 103 44 147 378
Total Current Assets $ 50,363 $ 60,440 $110,803 $ 93,422
Fixed Assets:
Land $ 2,336 $ 4,941 $ 7,277 $ 7,277
Treatment Plant & Line 280,040 445,922 725 ,962 725,962
Machinery & Equipment 57,936 26,467 84,403 78,949
Construction in Progress 2,417 2,417 2,417
Total Fixed Assets $340,312 $479,747 $820,059 $814,605
TOTAL ASSETS ~~2£4~Z~ ~~~241~Z ~2~24~~~ £22~42~Z
LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current Liabilities:
Accounts Payable $ 2,440 $ 2,863 $ 5,303 $ 8,609
Contribution from
Special Assessments 219,952 391,610 611 ,562 611 ,562
Retained Earnings,
Unreserved 168,283 145, 714 313,997 287,856
TOTAL LIABILITIES, CON-
TRIBUTIONS & RETAINED
EARNINGS ~~224~Z~ ~~~241~Z £2~24~~~ ~22~42~Z
The notes to the financial statements are an integral part of this statement.
-30-
EXHIBIT E-2
CITY OF ST. JOSEPH, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1983
Plant Operation
Water and Maintenance Total
Fund Fund 1983 1982
REVENUES
Sales & Rental Charges $ 41,030 $ 25,198 $ 66,228 $ 53,710
Service & Permits 557 100 657 2,369
Operation Cost Share 36,378 36 ,378 19,790
Miscellaneous 210 139 349 258
TOTAL REVENUES $ 41, 797 $ 61,815 $103,612 $ 76,127
EXPENSES
Salaries $ 17,504 $ 15,538 $ 33,042 $ 28, 743
Retirement Contributions 2,125 1,455 3,580 3,112
Hospitalization Insurance 840 1,180 2,020 1,833
Pumping and Utilities 5,307 10,177 15,484 15,142
Repairs and Maintenance 2,467 3,477 5,944 7,560
Supp lies 2,325 4,402 6,727 6,262
Insurance - General 1,117 1,446 2,563 2,896
PCA Tests 1,395 1,395 1,162
Engineering Fee 2,110 2,110
Filtration 2,797 2,797 2,158
Inspec tion Fees 850 850
Sales Tax 230
Miscellaneous 258 1,422 1,680 1,264
TOTAL EXPENSES $ 35,590 $ 42,602 $ 78,192 $ 70,362
OTHER USES
Transfers to Other Funds 2,979 2 ,9 79
TOTAL EXPENSES AND OTHER
USES $ 35,590 $ 45,581 $ 81,171 $ 70,362
OPERATING INCOME $ 6,207 $ 16,234 $ 22,441 $ 5,765
OTHER INCOME (EXPENSE)
Interest Income $ 2,500 $ 1,200 $ 3,700 $ 5,294
OTHER INCOME - NET $ 2,500 $ 1,200 $ 3,700 $ 5,294
NET INCOME $ 8,707 $ 17,434 $ 26,141 $ 11 ,059
RETAINED EARNINGS, Jan. 1 159,576 128,280 287,856 276,797
RETAINED EARNINGS, Dec. 31 ~1~~J:~~~ £1~~4Z1~ £~1~422Z ~~~Z4~~~
The notes to the financial statements are an integral part of this statement.
-31-
EXHIBIT E-3
CITY OF ST. JOSEPH, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1983
Plant Operation
Water and Maintenance Total
Fund Fund 1983 1982
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income (Loss) for the
Year $ 8,707 $ 17 ,434 $ 26,141 $ 11 ,059
Add: Items not requiring
Current Outlay of Resources
Loss on Disposal of Equipment 950 950
Total Resources Provided by
Operations $ 8,707 $ 18,384 $ 27 ,091 $ 11 ,059
TOTAL RESOURCES PROVIDED BY
ALL SOURCES $ 8,707 $ 18,384 $ 27,091 $ 11 ,059
USE OF FINANCIAL RESOURCES
Acquisition of Fixed Assets $ 1,037 $ 5,367 $ 6,404 $ 7,510
TOTAL USES OF FINANCIAL
RESOURCES $ 1,037 $ 5,367 $ 6,404 $ 7,510
NET INCREASE (DECREASE) IN
WORKING CAPITAL ~==Z4~Z£ ~=1~4£1Z ~=~24~~Z ~==~4~~2
COMPONENT ELEMENTS OF INCREASE
(DECREASE) IN WORKING
CAPITAL
Cash $ 6,623 $ 7,106 $ 13,729 $ 22,152
Investments (3,398) 0,122) (6,520 ) (18 ,119)
Accounts Receivable 984 9,419 10,403 3,748
Interest Receivable 028 ) (103) (231) 112
Accounts Payable 3,589 (283 ) 3,306 (4,344)
NET INCREASE (DECREASE) IN
WORKING CAPITAL $ 7 670 $ 13 017 ~=~24~~Z £==~4~~2
====~=== ====4=== The notes to the financial statements are an integral part of this statement.
-32-
EXHIBIT E-4
CITY OF ST. JOSEPH, MINNESOTA
ENTERPRISE FUNDS
SCHEDULE OF CHANGES IN FIXED ASSETS
For the Year Ended December 31, 1983
Jan. 1 Addi- Retire- Dec. 31
Balance tions ments Balance
WATER FUND
Contributed Assets
Land $ 2,336 $ $ $ 2,336
Buildings 280,040 280,040
Machinery & Equipment 56,899 1,037 57,936
TOTAL WATER FUND $339,275 $ 1,037 $ $340,312
PLANT OPERATION AND MAINTENANCE
Contributed Assets
Land $ 4,941 $ $ $ 4,941
Buildings 445,922 445,922
Machinery and Equipment 22,050 5,367 950 26,467
Construction Work in Progress 2,417 2,417
TOTAL PLANT OPERATION AND
MAINTENANCE $475,330 $ 5,367 $ 950 $479,747
ALL ENTERPRISE FUNDS-TOTAL FIXED
ASSETS £~1~4~2~ £==~4~2~ ~====2~£ ~~~242~2
The notes to the financial statements are an integral part of this statement.
-33-
EXHIBIT F-l
CITY OF ST. JOSEPH, MINNESOTA
GENERAL FIXED ASSETS
STATEMENT OF GENERAL FIXED ASSETS
For the Year Ended December 31, 1983
Jan. 1 Addi- Retire- Dec. 31
Balance tions ments Balance
Land $ 40,271 $ $ $ 40,271
Buildings 163,286 5,666 168,952
Improvements other than
Bui 1d ings 970,776 43,278 983 1,013 ,071
Equi pmen t 264,694 14,279 13 ,361 265,612
Construction in Progress 66,853 324,587 24,569 366,871
TOTAL GENERAL FIXED ASSETS £14~2~4~~2 £~~Z4~12 £=~~421~ £14~~~4ZZZ
The notes to the financial statements are an integral part of this statement.
-34-
EXHIBIT F-2
CITY OF ST. JOSEPH, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS BY FUND
December 31, 1983
GENERAL FIXED ASSETS
Land $ 40,271
Buildings 168,952
Improvements other than Buildings 1,013 ,071
Equipment 265,612
Construction in Progress 366,871
TOTAL GENERAL FIXED ASSETS £14~~~4ZZZ
INVESTMENT IN GENERAL FIXED ASSETS FROM:
General Revenue Fund $ 393 ,870
Special Assessments 1,224,063
Revenue Sharing 166,305
Capital Projects 70,539
TOTAL INVESTMENT IN GENERAL FIXED ASSETS ~14~~~4ZZZ
The notes to the financial statements are an integral part of this statement.
-35-
EXHIBIT G-l
CITY OF ST. JOSEPH, MINNESOTA
STATEMENT OF GENERAL LONG-TERM DEBT
December 31, 1983
AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT
OF GENERAL LONG-TERM DEBT: 1983 1982
NOTE PRINCIPAL
Amount to be Provided in Future Years $ 51,601 $ 54,563
TOTAL TO BE PROVIDED $ 51 601 ~=~~4~~~
====4===
GENERAL LONG-TERM DEBT PAYABLE:
GENERAL LONG-TERM DEBT
Contract for Deed Notes $ 51,601 $ 54,563
TOTAL GENERAL LONG-TERM DEBT PAYABLE £=~14~21 £=~~4~~~
The notes to the financial statements are an integral part of this statement.
-36-