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Home My WebLink About1982 Audit Report "o:i~:1f;Y'9""&':':T .-. - ". ~-~,,-,:, ~I 0'1 I CITY OF ST. JOSEPH,. MINNESOTA *1 AUDITED fINANCIAL STATEMENT -. FOR THE YEAR ENDED I DECEMBER 31, 1982 'I I I I I I I I I I I MARLIN J.BOECKMANN Certified Public Accountant I MinneApoli~ Minne~otA ) ~ I I CITY OF ST. JOSEPH, MINNESOTA TABLE OF CONTENTS December 31, 1982 I Page I Mayor, City Council Members, and City Clerk 1 Auditor's Report 2 Combined Balance Sheet - All Fund Types and Account I Groups 3 Combined Statement of Revenues, Expenditures, and Changes in Fund Balance - All Governmental Fund Types 4 General Fund: I Balance Sheet 5 Statement of Changes in Fund Balances 6 Statement of Revenues - Budgeted and Actual 7 I Statement of Expenditures - Budgeted and Actual 9 Special Revenue Funds: Combining Balance Sheet . 12 I Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 13 Statement of Revenue, Expenditures, and Change s in Fund Balance - Budgeted and Actual 14 I Capital Projects Funds: Combining Balance Sheet 15 Combining Statement of Revenues, Expenditures, and I Changes in Fund Balance 16 Special Assessment Funds: Combining Balance Sheet 17 Combining Statement of Revenues, Expenditures, and I Changes in Fund Balances 18 Enterprise Funds: Combining Balance Sheet 19 I Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 20 Combining Statement of Changes in Financial Position 21 I Water Fund: Comparative Balance Sheet 22 Comparative Statement of Revenues, Expenses, and Changes in Retained Earnings 23 I Comparative Statement of Changes in Financial Position 24 Plant Operation and Maintenance Fund: Comparative Balance Sheet 25 I Comparative Statement of Revenues, Expenses and Changes in Retained Earnings 26 Comparative Statement of Changes in Financial Position 27 I Statement of General Fixed Assets 28 Statement of General Long-Term Debt 29 Notes to Financial Statements 30 Accountant's Comments on Supplementary Schedules 35 I Supplementary Schedules: Combined Schedule of Indebtedness 36 Schedule of Personnel Expenditures 37 I Schedule of Fixed Assets, Enterprise Funds 38 General Fixed Assets 39 I CITY OF ST. JOSEPH, MINNESOTA MAYOR, CITY COUNCIL MEMBERS AND CITY CLERK For the Year Ended December 31, 1982 ELECTED OFFICIALS TERM OF OFFICE TERM EXP IRES 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- I MARLIN J. BOECKMANN I Certified Public Accountant I 4065 82nd Avenue North MEMBER: Minneapolis, Minnesota 55443 American Institute ofC.P.A. 's I Minnesota Society of C.P.A. 's I To the Honorable City Council City of St. Joseph St. Joseph, Minnesota 56374 I I 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, 1982, and the re- lated statement of revenue, expenditures, and changes in fund balances I 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- I 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. 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 General Fixed Assets and the Enterprise I 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 I 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. I In our opinion, except for the General Fixed Assets, Enterprise Fund's fixed assets, and non-depreciation of proprietary fixed assets referred to I 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, 1982 in I conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. I ~~~- Minneapolis, Minnesota I July 20, 1983 MARLIN J. BOECKMANN, C.P.A. I -2- I .II 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, 1982 Governmental Fund Types Total Special Capital Special Year End December 31 General Revenue Projects Assess. 1982 1981 REVENUE: Taxes $ 89,154 $ $ $ $ 89,154 $ 73,564 Licenses and Permits 18,096 18,096 13 , 548 Intergovernmental Rev.: Federal 27 ,884 27,884 31,686 State 229,239 229,239 228,330 Charges for Services 24,987 24,987 21,780 Fines and Forfeits 18,531 18,531 13,256 Other and Interest 67,334 4,355 1,114 93 ,863 166,666 189,328 TOTAL REVENUES $447,341 $ 32,239 $ 1,114 $ 93,863 $574,557 $571,492 OTHER SOURCES: Transfers from other Funds 2,412 2,412 2,853 TOTAL REVENUES & OTHER SOURCES $447,341 $ 32,239 $ 1,114 $ 96,275 $576,969 $574,345 EXPENDITURES: General Government $121, 115 $ $ $ $121,115 $124,521 Public Safety 164,549 164,549 129,295 Streets & Highways 79,663 79,663 68,359 Sanitation 32,554 32,554 29,998 Recreation 17,455 17,455 12,979 Wastewater Treatment Plant 3,149 Capital Outlay - Buildings 7,400 Equipment 10,405 228 10,633 2,900 Other and Interest 4,889 1,127 175 26,324 32,515 37,679 TOTAL EXPENDITURES $420,225 $ 11,532 $ 403 $ 26,324 $458,484 $416,280 OTHER USES: Transfers to Other Funds 2,412 2,412 2,510 TOTAL EXPENDITURES AND OTHER USES $422,637 $ 11,532 $ 403 $ 26,324 $460,896 $418,790 NET INCREASE (DECREASE) IN FUND BALANCE DURING THE YEAR $ 24,704 $ 20,707 $ 711 $ 69,951 $116,073 $155,555 FUND BALANCE, January 1 321,963 41,594 8,210 366,562 738,329 582,774 FUND BALANCE, December 31 $346,667 $ 62r301 $ 8 921 $436,513 ~~~~~~2~ ~Z~~~~~2 ======== ======== ====~=== ======== -4- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND BALANCE SHEET December 31, 1982 ASSETS Cash $ 82,782 Investments 297,385 Taxes Receivable - Delinquent 7,171 Interest Receivable 3,394 Accounts Receivable 6,408 Utilities Receivable - Delinquent 0 Due from 1979 Alley Improvements 3,135 Due from Wastewater Treatment Plant Upgrading 5,567 Due from 1975 Sidewalk Improvement 621 Due from Other Governmental Units 1,477 TOTAL ASSETS ~~2Z~2~2 LIABILITIES AND FUND BALANCE Liabi 1i ties: Accounts Payable $ 33,524 Due to Special Assessments 25,623 Firemen's Relief Pension Fund Payable 2,126 TOTAL LIABILITIES $ 61,273 Fund Balance: Appropriated: Joint Operating Fire $ 13,960 Street Maintenance 27,977 41,937 Unappropriated 304, 730 TOTAL FUND BALANCE $346,667 TOTAL LIABILITIES AND FUND BALANCE ~~2Z~2~2 The notes to the financial statements are an integral part of this statement. -5- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCES For the Year Ended December 31, 1982 Revenue $447,341 Expenditures and Other Uses 422,637 NET INCREASE IN FUND BALANCE $ 24,704 FUND BALANCE, January 1 321,963 FUND BALANCE, December 31 ~~~~~~~Z , The notes to the financial statements are an integral part of this statement. -6- -- CITV CF ST. JOSEPH, MINNESOTA GJ;NERAL FUND STATEMENT OF REVENUES-BUDGETED AND ACTUAL For the Year Ended December 31, 1982 Actual Over (Under) Budgeted Actual Budget TAXE S : General Property Tax $ 90,000 $ 89,154 $ (846) LICENSES AND PERMITS: Business Licenses and Permits $ 8,000 $ 9,016 $ 1,016 Non-Business Licenses and Permits 5,000 9,080 4,080 TOTAL LICENSES AND PERMITS $ 13 ,000 $ 18,096 $ 5,096 INTERGOVERNMENTAL REVENUE: State Grants: Local Government Aid $180,337 $168,401 $(11,936) Homestead Credit 47,249 36 ,149 (11,100) Operating Fire 7,496 7,496 Pol ice 8,981 8,981 Reduced Assessment 6,720 6,720 Mobile Home Homestead Credit 837 837 Machinery Aid 655 655 0 TOTAL INTERGOVERNMENTAL REVENUE $228,241 $229,239 $ 998 CHARGES FOR SERVICES: Sanitation $ 15,000 $ 21,761 $ 6,761 Recreation 2,000 3,026 1,026 Assessment Search 150 150 Snow Removal 50 50 TOTAL CHARGES FOR SERVICES $ 17,000 $ 24,987 $ 7,987 FINES AND FORFEITS: County Court $ 12,000 $ 16,736 $ 4,736 Police Department 1,795 1,795 TOTAL FINES AND FORFEITS $ 12,000 $ 18,531 $ 6,531 The notes to the financial statements are an integral part of this statement. -7- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF REVENUES - BUDGETED AND ACTUAL For the Year Ended December 31, 1982 (Continued) Actual Over (Under) Budgeted Actual Budget MISCELLANEOUS REVENUES: Interest $ 16,000 $ 25,684 $ 9,684 Township Share of Joint Fire 23,635 22,168 ( 1 , 46 7 ) City Hall Improvement Grant 3,000 3,000 Ren ts 8,000 8,560 560 Assessments 2,000 2,027 27 Shade Tree Program 1,008 1,008 Refunds 4,530 4,530 Miscellaneous 357 357 TOTAL MISCELLANEOUS REVENUES $ 49,635 $ 67,334 $ 17,699 TOTAL REVENUES ~~22~~Z~ ~~~Z~~~1 ~==~Z~~~~ 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, 1982 Actual Over (Under) Budgeted Actual Budget GENERAL GOVERNMENT: Mayor and Council - Salaries $ 7,320 $ 7,220 $ (100 ) Seminars, Travel & Supplies 1,467 1,934 467 Elections-Voter Registration Salaries 1,300 961 039 ) Miscellaneous 100 201 101 Finance-Municipal Clerk - Salaries 37 , 83 7 34,315 0,522) Retirement Contributions 4,658 4,184 (474) Hospitalization Insurance 2,184 1,272 (912) Supplies 1,200 1,357 157 Telephone 950 1,089 139 Repairs and Maintenance 300 325 25 Seminars 500 233 (267) Audit 6,500 2,893 0,607) Miscellaneous 710 899 189 Treasurer - Salaries 2,178 2,158 (20 ) Miscellaneous 215 311 96 Assessor - Salaries 2,640 2,606 (4) Miscellaneous 365 270 (95) Planning & Zoning 7,890 7,919 29 Legal - Attorney Fees 14,000 7,724 (6,276) Publica tions 850 1,061 211 Engineering Fees 4,200 4,191 (9) Forester - Shade Tree Program 2,125 456 (1,669) Emergency Services 50 53 3 General Government Buildings - City Hall 2,750 21,714 18,964 Ci ty Hall Annex 10,801 11 , 246 445 Maintenance Shop 5,305 4,523 (782 ) TOTAL GENERAL GOVERNMENT $118,395 $121,115 $ 2,720 PUBLIC SAFETY: Police Protection - Salaries $ 73, 430 $ 75,111 $ 1,681 Hospitalization Insurance 4,547 5,086 539 Insurance General 4,200 5,020 820 Gas, Oil and Service 5,500 5,104 (396 ) Attorney Fees 9,000 13,320 4,320 Telephone 1,600 1,726 126 Reservists 300 113 (187) Clothing Allowance 1,200 1,350 150 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, 1982 (Continued) Actual Over (Under) Budgeted Actual Budget Repairs and Maintenance $ 2,500 $ 1,623 $ (877) Supplies 1,400 1,322 (78) Retirement Contributions 11 ,034 11,034 Capital Outlay 800 0 (800) Continuing Education 60 443 383 Miscellaneous 40 76 36 Police Investigation 0 8,064 8,064 Fire Protection - Salaries 1,520 1,520 Fires 8,983 5,148 (3 , 835 ) State Aid 7,496 7,496 Insurance 3,552 3,552 Meetings and Drills 4,748 4,748 Pension Contributions 3,326 3,326 Convention and Conferences 722 722 Heat 750 750 Electricity and Telephone 1,244 1,244 Supplies 1,711 1,711 Capital Outlay 2,250 2,609 359 Repairs and Maintenance 1,336 1,336 Miscellaneous 942 942 Animal Control - Suppl ies 200 53 ( 147 ) TOTAL PUBLIC SAFETY $143,357 $164,549 $ 21,192 STREETS AND HIGHWAYS: Streets and Alleys - Salaries $ 40,207 $ 45,255 $ 5,048 Hospitalization Insurance 2,693 2,543 (150 ) Retirement Contributions 4,750 5,038 288 Insurance - General 3,500 3,934 434 Supplies 4,500 4,923 423 Repairs and Maintenance 1,500 4,080 2,580 Capital Outlay 300 264 (36) Street Sweeping 980 774 (206) Clothing Allowance 0 40 40 Street Lighting - Power and Ligh t 12,000 12 , 812 812 TOTAL STREETS AND HIGHWAYS $ 70,430 $ 79,663 $ 9,233 SANITATION AND WASTE REMOVAL: Refuse Collection & Disposal - Collection Service $ 33,600 $ 32,160 $ C1, 440 ) Miscellaneous 270 353 83 The notes to the financial statements are an integral part of this statement. -10- CITY OF ST. JOSEPH, MINNESOTA GENERAL FUND STATEMENT OF EXPENDITURES-BUDGETED AND ACTUAL For the Year Ended December 31, 1982 (Continued) Actual Over (Under) Budge ted Actual Budget Weed Eradication - Supplies and Repairs $ 1,125 $ 41 $ (1,084) Capital Outlay 300 0 (300) Miscellaneous TOTAL SANITATION AND WASTE REMOVAL $ 35,295 $ 32,554 $ (2,741) RECREATION: Recreation Activities and Facili ties - Salaries $ 3,600 $ 7,115 $ 3,515 Swim Programs 3,800 360 (3,440) Supplies 800 739 (61) Ball Park & Skating Rink 1,000 1,070 70 Hockey Rink 750 781 31 Insurance 500 181 (319) Bus Service 90 188 98 Parks and Playground - Salary 257 257 Supplies 800 1,608 808 Maintenance 1,400 868 (532) Power and Light 250 261 11 Insurance 1,200 392 (808) Seminars 380 305 (75 ) Miscellaneous 230 222 (8) Capital Outlay 4,000 3,108 (892) TOTAL RECREATION $ 18,800 $ 17,455 $ (1,345) MISCELLANEOUS: Other $ 2,425 $ 4,889 $ 2,464 TOTAL MISCELLANEOUS $ 2,425 $ 4,889 $ 2,464 TOTAL EXPENDITURES $388,702 $420,225 $ 31,523 OTHER USES: Transfers to Other Funds 1970 Water System 2,412 2,412 TOTAL EXPENDITURES AND OTHER USES ~~~~~Z2~ ~~~~~~~Z ~=~~~2~~ The notes to the financial statements are an integral part of this statement. -11- CITY OF ST. JOSEPH, MINNESOTA SPECIAL REVENUE FUNDS BALANCE SHEET December 31, 1982 Federal Revenue Sharing ASSETS Cash $ 1,349 Investments 51,399 Interest Receivable 426 Entitlements Receivable 9,127 TOTAL ASSETS ~==~~~~21 LIABILITIES AND FUND BALANCE Fund Balance - Unappropriated $ 62,301 TOTAL LIABILITIES AND FUND BALANCE ~=~~~~21 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 For the Year Ended December 31, 1982 Federal Revenue Sharing REVENUES U.S. Treasury $ 27,884 Interest 4,355 TOTAL REVENUES $ 32,239 EXPENDITURES Publications $ 1,030 Capital Outlay: Police Car 8,007 Equipment 2,398 Advisory Service 97 TOTAL EXPENDITURES $ 11 ,532 NET INCREASE IN FUND BALANCE DURING THIS YEAR $ 20,707 FUND BALANCE, January 1 41 ,594 FUND BALANCE, December 31 ~=~~~~21 The notes to the financial statements are an integral part of this statement. -13- 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, 1982 Actual Over (Under) Budgeted Actual Budget REVENUES U.S. Treasury $ 27,884 Interest 4,355 TOTAL REVENUES $ 25,000 $ 32,239 $ 7,239 EXPENDITURES Publication $ 1,030 Capital Outlay: Police Car 8,007 Equipment 2,398 Advisory Service 97 TOTAL EXPENDITURES $ 25,000 $ 11 ,532 $ 03,468) NET INCREASE (DECREASE) IN FUND BALANCE DURING THE YEAR: ~=====~2~ $ 20,707 ~==~2~Z2Z FUND BALANCE, January 1 41,594 FUND BALANCE, December 31 ~=~~~~21 The notes to the financial statements are an integral part of this statement. -14- CITY OF ST. JOSEPH, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET December 31, 1982 Water Treat- Millstream ment Plant Park Upgrading Total ASSETS Cash $ 32 $ 2,978 $ 3,010 Investments 8,812 8,812 Interest Receivable 77 77 Due from Other Governmental Units 2,589 2,589 TOTAL ASSETS ~==~~2~1 ~==~~~~Z ~=1~~~~~ LIABILITIES AND FUND BALANCE Liabi li ties: Due to Other Funds $ -0- $ 5,567 $ 5,567 TOTAL LIABILITIES $ -0- $ 5,567 $ 5,567 FUND BALANCE 8,921 -0- 8,921 TOTAL LIABILITIES AND FUND BALANCE ~==~~2~1 £==~~~~Z £=1~~~~~ The notes to the financial statements are an integral part of this statemen t. -15- CITY OF ST. JOSEPH, MINNESOTA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Year Ended December 31, 1982 Water Treat- Millstream ment Plant Park Upgrading Total REVENUES Employee Aid - Township $ 175 $ $ 175 Refund 20 20 Interest 919 919 TOTAL REVENUES $ 1,114 $ $ 1,114 EXPENDITURES Student Work Program $ 175 $ $ 175 Capital Outlay 228 228 TOTAL EXPENDITURES $ 403 $ $ 403 NET INCREASE IN FUND BALANCE $ 711 $ $ 711 FUND BALANCE, January 1 8,210 8,210 FUND BALANCE, December 31 L=~~2~1 ~======= $ 8 921 ====~=== The notes to the financial statements are an integral part of this statement. -16- CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING BALANCE SHEET December 31, 1982 Plant Operation Water and Maintenance To ta 1 Fund Fund 1982 1981 ASSETS Current Assets: Cash $ 10,357 $ 16,784 $ 27, 141 $ 4,989 Inves tmen ts 26,222 12,802 39,024 57,144 Accounts Receivable 9,472 17,407 26,879 23, 131 Interest Receivable 231 147 378 265 Total Current Assets $ 46,282 $ 47,140 $ 93,422 $ 85,529 Fixed Assets: Land $ 2,336 $ 4,941 $ 7,277 $ 7,277 Treatment Plant & Line 280,040 445 ,922 725,962 725,962 Machinery & Equipment 56,899 22,050 78,949 71 , 439 Construction in Progress 2,417 2,417 2,417 Total Fixed Assets $339,275 $475,330 $814,605 $807,095 TOTAL ASSETS £~~~~~~Z ~~~~~~Z2 £22~~2~Z ~~2~~~~~ LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Current Liabilities: Accounts Payable $ 6,029 $ 2,580 $ 8,609 $ 4,265 Contribution from Special Assessments 219,952 391,610 611,562 611,562 Retained Earnings, Unreserved 159,576 128,280 287,856 276,797 TOTAL LIABILITIES, CON- TRIBUTIONS & RETAINED EARNINGS £~~~~~~Z ~~~~~~Z2 ~22~~2~Z ~~2~~~~~ The notes to the financial statements are an integral part of this statement. -19- CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1982 Plant Operation Water and Maintenance Total Fund Fund 1982 1981 REVENUES Sales & Rental Charges $ 33,596 $ 20,114 $ 53,710 $ 54,167 Service & Permits 2,069 300 2,369 2,910 Operation Cost Share 19,790 19,790 11,290 Interest 2,859 2,435 5,294 5,250 Miscellaneous 214 44 258 362 TOTAL REVENUES $ 38,738 $ 42,683 $ 81, 42 1 $ 73, 979 EXPENSES Salaries $ 15,980 $ 12, 763 $ 28, 743 $ 25,361 Retirement Contributions 1,949 1,163 3,112 2,644 Hospitalization Insurance 635 1,198 1,833 1,843 Pumping and Utilities 4,884 10,258 15,142 9,691 Repairs and Maintenance 4,500 3,060 7,560 4,375 Supplies 1,973 4,289 6,262 4,726 Insurance - General 1,114 1,782 2,896 2,061 PCA Tests 1,162 1,162 1,254 Fil tration 2,158 2,158 1,260 Inspection Fees 638 Sales Tax 230 230 204 Miscellaneous 530 734 1,264 1,332 TOTAL EXPENSES $ 33,953 $ 36,409 $ 70,362 $ 55,389 NET INCOME $ 4,785 $ 6,274 $ 11,059 $ 18,590 RETAINED EARNINGS, January 1 154,791 122,006 276, 79 7 258,207 RETAINED EARNINGS, December 31 ~1~2~~Z~ ~1~~~~~2 ~~~Z~~~~ ~~Z~~Z2Z The notes to the financial statements are an integral part of this statement. -20- CITY OF ST. JOSEPH, MINNESOTA ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1982 Plant Operation Water and Maintenance Tota 1 Fund Fund 1982 1981 SOURCES OF FINANCIAL RESOURCES Operations Net Income (Loss) for the Year $ 4,785 $ 6,274 $ 11,059 $ 18,590 Add: Items not requiring Current outlay of resources Loss on Disposal of Equipment 355 Total Resources Provided by Operations $ 4,785 $ 6,274 $ 11,059 $ 18,945 TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 4,785 $ 6,274 $ 11 ,059 $ 18,945 USE OF FINANCIAL RESOURCES Acquisition of Fixed Assets $ 2,130 $ 5,380 $ 7,510 $ 2,937 TOTAL USES OF FINANCIAL RESOURCES $ 2,130 $ 5,380 $ 7,510 $ 2,937 NET INCREASE (DECREASE) IN WORKING CAPITAL ~==~~~~~ ~====~2~ $ 3 549 ~=1~~22~ ====~=== COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ 6,921 $ 15,231 $ 22,152 $ (6,447) Inves tmen ts (919 ) (17 , 200 ) (18,119) 28,994 Accounts Receivable 485 3,263 3,748 (6,153) Interest Receivable 105 7 112 61 Accounts Payable (3,937) (407) (4,344) (447) NET INCREASE (DECREASE) IN WORKING CAPITAL ~==~~~~~ ~====~2~ ~==~~~~~ ~=1~~22~ The notes to the financial statements are an integral part of this statement. -21- CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPARATIVE BALANCE SHEET December 31, 1982 Year Ended December 31 1982 1981 ASSETS Current Assets: Cash $ 10,357 $ 3,436 Investments 26,222 27, 142 Accounts Receivable 9,472 8,987 Interest Receivable 231 126 Total Current Assets $ 46,282 $ 39,691 Fixed Assets: Land $ 2,336 $ 2,336 Water Treatment Plant and Lines 280,040 280,040 Machinery and Equipment 56,899 54,769 Total Fixed Assets $339,275 $337,145 TOTAL ASSETS ~~~~~~~Z ~~Z~~~~~ LIABILITIES, CONTRIBUTIONS & RETAINED EARNINGS Current Liabilities: Accounts Payable $ 6,029 $ 2,093 Contributions from Special Assessments 219,952 219,952 Retained Earnings, Unreserved 159,576 154,791 TOTAL LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS ~~~~~~~Z ~~Z~~~~~ The notes to the financial statements are an integral part of this statement. -22- - . CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPARATIVE STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1982 Year Ended December 31 1982 1981 REVENUES Sales $ 33,596 $ 33,714 Service and Permits. 2,069 2,840 Interest 2,859 2,848 Miscellaneous 214 151 TOTAL REVENUES $ 38,738 $ 39,553 EXPENS ES Salaries $ 15,980 $ 13,943 Hospitalization Insurance 635 640 Retirement Contributions 1,949 1,635 Pumping and Utilities 4,884 4,126 Repair and Maintenance 4,500 3,710 Supplies 1,973 2,707 Insurance - General 1,114 1,237 Fil tration 2,158 1,260 Inspection Fee 638 Sales Tax 230 204 Miscellaneous 530 841 TOTAL EXPENSES $ 33,953 $ 30,941 NET INCOME $ 4,785 $ 8,612 RETAINED EARNINGS, January 1 154,791 146,179 RETAINED EARNINGS, December 31 ~1~2~~Z~ ~1~~~Z21 The notes to the financial statements are an integral part of this statement. -23- CITY OF ST. JOSEPH, MINNESOTA WATER FUND COMPÆêATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1982 Year Ended December 31 1982 1981 SOURCES OF FINANCIAL RESOURCES Operations Net Income for the Year $ 4,785 $ 8,612 Add: Items not requiring current outlay of resources - Loss on Disposal of Equipment 355 Total Resources Provided by Operations $ 4,785 $ 8,967 TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 4,785 $ 8,967 USE OF FINANCIAL RESOURCES Acquisition of Fixed Assets $ 2,130 $ 312 TOTAL USES OF FINANCIAL RESOURCES $ 2,130 $ 312 NET INCREASE (DECREASE) IN WORKING CAPITAL ~==~~~~~ ~==~~~~~ COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ 6,921 $ (4,752) Investments (919 ) 12,782 Accounts Receivable 485 610 Interest Receivable 105 22 Accounts Payable (3,937) (7) NET INCREASE (DECREASE) IN WORKING CAPITAL $ 2 655 $ 8 655 ====~=== ====~=== 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 BALANCE SHEET December 31, 1982 Year Ended December 31 1982 1981 ASSETS Current Assets: Cash $ 16,784 $ l,553 Investments 12,802 30,002 Accounts Receivable 17,407 14,144 Interest Receivable 147 139 Total Current Assets $ 47,140 $ 45,838 Fixed Assets: Land $ 4,941 $ 4,941 Sewer Treatment Plant and Lines 445,922 445,922 Machinery and Equipment 22,050 16,670 Construction in Progress 2,417 2,417 Total Fixed Assets $475,330 $469,950 TOTAL ASSETS ~~~~~~Z2 ~~l~~Z~~ LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS Current Liabilities: Accounts Payable $ 2,580 $ 2,172 Contributions from Special Assessments 391,610 391,610 Retained Earnings, Unreserved 128,280 122,006 TOTAL LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS ~~~~~~Z2 ~~l~~Z~~ 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 REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Year Ended December 31, 1982 Year Ended December 31 1982 1981 REVENUES Sewer Rental Charges $ 20, 114 $ 20,453 Operation Cost Share 19, 790 11 ,290 Interest 2,435 2,402 Service and Permits 300 70 Miscellaneous 44 211 TOTAL REVENUES $ 42,683 $ 34,426 EXPENSES Salaries $ 12, 763 $ 11 ,418 Hospitalization Insurance 1,l98 1,203 Retirement Contributions 1,163 1,009 Uti li ties 10,258 5,565 Supplies 4,289 2,019 Repair and Maintenance 3,060 665 Insurance - General 1,782 824 PCA Tests. 1,162 1,254 Miscellaneous 734 491 TOTAL EXPENSES $ 36,409 $ 24,448 NET INCOME $ 6,274 $ 9,978 RETAINED EARNINGS, January 1 122,006 112,028 RETAINED EARNINGS, December 3l £1~~~~~2 ~1~~~22~ The notes to the financial statements are an integral part of this statement. -26- CITY OF ST. JOSEPH, MINNESOTA PLANT OPERATION AND MAINTENANCE FUND COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION For the Year Ended December 31, 1982 Year Ended Decemb~r 31 1982 1981 SOURCES OF FINANCIAL RESOURCES Operations Net Income for the Year $ 6,274 $ 9,978 Add: Items not requiring current Outlay of Resources - Total Resources Provided by Operations $ 6,274 $ 9,978 TOTAL RESOURCES PROVIDED BY ALL SOURCES $ 6,274 $ 9,978 USE OF FINANCIAL RESOURCES Acquisition of Fixed Assets $ 5,380 $ 2,625 TOTAL USES OF FINANCIAL RESOURCES $ 5,380 $ 2,625 NET INCREASE (DECREASE) IN WORKING CAPITAL ~====~2~ ~==Z~~~~ COMPONENT ELEMENTS OF INCREASE (DECREASE) IN WORKING CAPITAL Cash $ 15,231 $ (1,695) Investments (17,200) 16,212 Accounts Receivable 3,263 (6,763) Interest Receivable 7 39 Accounts Payable (407) (440) NET INCREASE (DECREASE) IN WORKING CAPITAL ~====~2~ ~==Z~~~~ The notes to the financial statements are an integral part of this statement. -27- I CITY OF ST. JOSEPH, MINNESOTA STATEMENT OF GENERAL FIXED ASSETS December 31, 1982 GENERAL FIXED ASSETS Land $ 40 , 271 Buildings 163,286 Improvements other than Buildings 970, 776 Equipment 264,694 Construction in Progress 66,853 TOTAL GENERAL FIXED ASSETS ~1~~2~~~~2 INVESTMENT IN GENERAL FIXED ASSETS FROM: General Revenue Fund $ 389 , 60 7 Special Assessments 899,476 Revenue Sharing 148,126 Capital Projects 68,671 TOTAL INVESTMENT IN GENERAL FIXED ASSETS ~1~~2~~~~2 The notes to the financial statements are an integral part of this statement. -28- CITY OF ST. JOSEPH, MINNESOTA STATEMENT OF GENERAL LONG-TERM DEBT December 31, 1982 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG-TERM DEBT: NOTE PRINCIPAL Amount to be Provided in Future Years $ 54,563 TOTAL TO BE PROVIDED ~==~~~~~~ GENERAL LONG-TERM DEBT PAYABLE: GENERAL LONG-TERM DEBT Contract for Deed Notes $ 54,563 TOTAL GENERAL LONG-TERM DEBT PAYABLE ~==~~~~~~ The notes to the financial statements are an integral part of this statement. -29- I CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1982 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 1E and 1F 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 were 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. See Auditor's Report for non audit status of General Fixed Assets. E. Depreciation: Enterprise Funds - Generally accepted accounting principles require that depreciation be -30- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1982 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 appropri- ated 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 Refer to page 30 of this report for a Statement of General Long-Term Debt at December 31, 1982 and page 3 for balances at December 31, 1982. The long-term debt obligations outstanding and related maturities and interest rates are described in Supplementary Financial Information - Combined Schedule of Indebtedness. The City has contracts for deeds on certain properties purchased by the City. 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 Payab1es These are Special Assessment bonds that were purchased by other City of St. Joseph special assessment funds instead of by an outside sour ce . At the end of 1982 the following are the intrafund receiv- ables and (payab1es) . -31- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1982 Schedule of Intrafund receivable and (payables): 1961 1965 1970 1976 Sewer Street Water Street $ 31,509 $ $(30,000) $ (1,509) 9,642 (9,642) ~=~1~~2~ ~==2~~~~ ~i~2~222) ~ill~l~l) 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 - 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 and town- ship are required in accordance with State Statutues to pay annually the excess of the increase in pension liability for the following year (and a portion of the Fund deficit at December 31, 1982) over the projected 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 1982 contribution requirement of $3,326 was made. The above disclosures are not in accordance with Financial Accounting Standard No. 36. The req- uired 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 1982 was $23,368. 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 three areas of activity within the General Fund for which -32- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1982 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 three 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. 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 three 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 $9,322 to the General Fund which are listed as "Due from...,"; the three funds are "Wastewater Treat- ment Plant Upgrading," "1975 Sidewalk Improvements," and "1979 Alley Improvements." The city's share of the "Wastewater Treatment Plant Upgrad- ing" 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 $620 due to it. The General Fund paid the begin- ning 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, 1982 is $3,135. B. Special Revenue Funds The City receives special revenues from "Federal Revenue Sharing" of significant amounts that are recorded outside of the general fund. C. Capital Projects The city had one capital project in progress during 1982. An extension State Grant for $6,800 was begun during 1981 to be matched in kind by the Ci ty . -33- CITY OF ST. JOSEPH, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1982 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 modified 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 improvemen ts . Such improvements are recorded in the General Fixed Asset Group of Accounts or in the Enterprise Fund. 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. Expendit~res 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, 1982. The entire fund balance at December 31, 1982 is Fund Balance - Debt Service; the part of the Fund Balance that is dedicated to future debt retirement. Note 5 - Subsequent Events The city is preparing to issue a $531,200 bond for certain improvements for the proposed Clinton Village Addition. The Special Assessments Bond would finance streets, curb and gutter, water, and sewer for the proposed addition. -34- MARLIN J. BOECKMANN Certified PublicAccountant 4065 82nd Avenue North MEMBER: Minneapolis, Minnesota 55443 American Institute o{C.P.A. 's Minnesota Society of C.P.A. 's COM MEN T S To the Honorable City Council City of St. Joseph St. Joseph, Minnesota 56374 The audited financial 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 de- rived 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. 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JOSEPH, MINNESOTA ENTERPRISE FUNDS SCHEDULE OF CHANGES IN FIXED ASSETS For the Year Ended December 31, 1982 Jan. 1 Addi- Retire- Dec. 31 Balance tions men ts Balance WATER FUND Contributed Assets Land $ 2,336 $ $ $ 2,336 Buildings 280,040 280,040 Machinery and Equipment 54,769 2,130 56,899 TOTAL WATER FUND $337,145 $ 2,130 $ $339,275 PLANT OPERATION AND MAINTENANCE Contributed Assets Land $ 4,941 $ $ $ 4,941 Buildings 445,922 445,922 Machinery and Equipment 16,670 5,380 22,050 Construction Work in Progress 2,417 2,417 TOTAL PLANT OPERATION AND MAINTENANCE $469,950 $ 5,380 $ $475,330 ALL ENTERPRISE FUNDS-TOTAL FIXED ASSETS ~~2Z~22~ ~==Z~~12 ~======= ~~1~~~2~ -38- CITY OF ST. JOSEPH, MINNESOTA GENERAL FIXED ASSETS SCHEDULE OF CHANGES IN FIXED ASSETS For the Year Ended December 31, 1982 J an . 1 Ad di- Retire- De c. 3 1 Balance tions ments Balance Land $ 37,163 $ 3,108 $ $ 40,271 Buildings 141,055 22,804 573 163,286 Improvements other than Build ings 969, 716 1,060 970,776 Equipment 255,660 16,921 7,887 264,694 Construction in Progress 66,853 66,853 TOTAL GENERAL FIXED ASSETS ~1~~Z2~~~Z ~=~~~~~~ ~==~~~~2 ~1~~2~~~~2 -39-