HomeMy WebLinkAbout1978 Audit Report
ClTYOFST. JOSEPH
ST. JOSEPH, MINNESOTA
AUDITED FINANCIAL STATEMENT
AS OF
DECEMBER 31, 1978
~
MARLIN J.BOECKMANN
Certified Public Accountant
Minneapolis, Minnesota
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CITY OF ST. JOSEPH
TABLE OF CONTENTS
December 31, 1978
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Mayor, City Council Members, and City Clerk
Accountant's Report
Combined Balance Sheet - All Fund Types and
Account Groups
General Fund:
Balance Sheet
Statement of Changes in Fund Balances
Statement of Revenues - Estimated and Actual
Statement of Expenditures - Estimated and Actual
Special Revenue Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Federal Revenue Sharing:
Balance Sheet
Statement of Revenue, Expenditures, and Changes
in Fund Balance - Estimated and Actual
Capital Projects Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balance
Special Assessment Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Enterprise Funds:
Combining Balance Sheet
Combi~ing Statement of Revenues, Expenses, and
Changes in Retained Earnings
Combining Statement of Changes in Financial Position
Water Fund:
Comparative Balance Sheet
Comparative Statement of Revenues, Expenses, and
Changes in Retained Earnings
Comparative Statement of Changes in Financial Position
Plant Operation and Maintenance Fund:
Comparative Balance Sheet
Comparative Statement of Revenues, Expenses, and
Changes in Retained Earnings
Comparative Statement of Changes in Financial Position
Statement of General Fixed Assets
Notes to Financial Statements
Accountant's Comments on Supplementary Schedules
Supplementary Schedules:
Combined Schedule of Tndebtedness
Schedule of Personnel Expenditures
Schedule of Fixed Assets
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CITY OF ST. JOSEPH
MAYOR, CITY COUNCIL MEMBERS AND CITY CLERK
For the Year Ended December 31, 1978
Mayor
Hugo B. Weyrens
City Council Members
Herman Schneider
Donald Reber
Steven Dehler
Michael Husen
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City Clerk
Robert G. Johnson
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MARLIN J. BOECKMANN
Certified Public Accountant
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4065 82nd Avenue North
Minneapolis, Minnesota 55443
MEMBER:
American Institute
ofC.P.A.'s
Minnesota Society
ofC.P.A. 's
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To the Honorable City Council
City of St. Joseph
St. Joseph, Minnesota
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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. Jospeh, Minnesota for the year ended December 31, 1978. 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.
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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 priciples on the accompanying financial
statements have not been determined.
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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 IF to the Financial Statements.
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In our opinion, except for the Statement of General 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,
1978 in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
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August 3, 1979
~<~<~a-J -
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CITY OF ST. JOSEPH
GENERA L FUND
BA LANCE SHEET
December 31, 1978
ASSETS
Cash $ 152,765
Investments 22,000
Interest Receivable on Investments 364
Accounts Receivable 5,357
Taxes Receivable-Delinquent 3,267
Due from 1978-A Street Improvement 2,780
Due from Wastewater Treatment Plant Upgrading 4,265
Due from 1975 Sidewalk Improvement 1,448
TOTAL ASSETS $ 192,246
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts Payable $ 13,897
Due to Special Assessments 4,364
TOTAL LIABILITIES $ 18,261
Fund Ba lance:
Appropriated:
Joint Operating Fire $ 10,761
Street Maintenance 8,475
Po li ce 4,734
Anti-Recession 241 24,211
Unappropriated 149 ,774
TOTA L FUND BA LANCE $ 173,985
TOTAL LIABILITIES AND FUND BALANCE $ 192 ,246
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The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended December 31, 1978
Revenue and Other Sources $ 292,243
Expenditures and Other Uses 230.092
NET INCREASE (DECREASE) IN FUND BALANCE $ 62 , 151
FUND BALANCE, January 1 111.834
FUND BALANCE, DECEMBER 31 $ 173.985
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
GENERA L FUND
STATEMENT OF REVENUES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1978
Budgeted
Actua 1
Difference
TAXES:
General Property Tax
$ 79,924
S 63, 124
$ (16 ,800)
LICENSES AND PERMITS:
Business Licenses and
Permits
Non-Business Licenses and
Permits
S 8,970
TOTAL LICENSES AND PERMITS
11 ,000
4,070
$ 13 ,040
2,040
INTERGOVERNMENTA L REVENUE:
Federal Grants:
Anit-Recession
State Grants:
Local Government Aid
Machinery Aid
Homestead Credit
Operating Fire
Po lice
$ 1,504
104,232
726
21,796
4,487
5,599
TOTA L INTERGOVERNMENTA L
REVENUE
114,590
$138,344
23,754
CHARGES FOR SERVICES:
Sanitation
Recreation
Assessment Search
Fire Fighting
Snow Removal
TOTAL CHARGES FOR SERVICES
13 ,609
$ 12 ,918
2,721
105
209
1,100
$ 17 ,053
3,444
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FINES AND FORFEITS:
County Court
Police Department
TOTAL FINES AND FORFEITS
8,000
$ 4,530
I, 161
$ 5,691
(2,309)
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
GENERA L FUND
STATEMENT OF REVENUES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1978
(CONTINUED)
Budgeted Actual Difference
MISCELlANEOUS REVENUES:
Interest $ 4,370
Rents 650
Assessments 2 , 141
CETA 26,882
Shade Tree Program 1,536
Refunds 594
Township Papers 1,788
Miscellaneous 1.056
TOTAL MISCELlANEOUS REVENUES $ 9.789 $ 39.017 $ 29.228
TOTAL REVENUES $236.912 $276.269 $ 39.357
OTHER SOURCES:
Transfers from Other Funds:
Millstream Park 288
1978 Bond Improvement Fund 11 , 943
Revenue Sharing 963
1978-A Street Impfovemfnt 2.780
rans er
TOTAL OTHER SOURCES $ $ 15.974 $ 15.974
TOTAL REVENUE AND OTHER SOURCES $236.912 $292.243 $ 55 .331
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF EXPENDITURES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1978
GENERAL GOVERNMENT:
Mayor and Council
Salaries $
School, Travel, Supplies,
and Other
Elections & Voter Registration
Salaries
Supp lies
Finance
Municipal Clerk
Sa 1aries
Retirement Contributions
Insurance
Supp lies
Telephone
Repairs
School
Other
Capital Outlay
Treasurer
Salaries & Other
Assessor
Salaries
Other
Planning & Zoning Current
Expenditures
Legal
Attorney Fees
Pub lica tions
Engineering Fees
Forester-Shade Tree Programs
Emergency Services
General Government Buildings
City Hall
Maintenance Shop
TOTA L GENERA L GOVERNMENT
PUBLIC SAFETY:
Police Protection
Salaries
Insurance
Gas, Oil, Service
Bud~eted
'5,765
285
750
175
21,385
2,267
1,476
1 ,050
383
210
1,602
984
2,400
238
2,790
6,500
750
3,500
100
300
1,094
1,444
$ 55,448
$ 33,857
6,562
3,303
Actual
Difference
$ 5 , 74 5
$
20
217
68
735
93
15
82
20,685
2,310
1,029
799
407
156
376
127
150
700
(43)
447
251
(24)
(156)
(166)
1,475
( 150)
861
123
1,800
290
600
(52)
6,119
(3,329)
5,470
1,064
949
896
66
1,030
(314 )
2,551
(796)
234
783
1,691
$ 52,818
311
(247)
$ 2,630
$35,688
5,854
3,330
$ (1,831)
708
(27)
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
GENERAL FUND
STATEMENT OF EXPENDITURES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1978
( CONTINUED)
Attorney Fees
Telephone
Reservists
Clothing Allowance
Repairs
Supp lies
Retirement Contributions
Other
Fire Protection
State Aid
Insurance
Meetings, Drills
Pension Contributions
Convention, Conference
Salaries
Fires
Heat
Supp lies
Other
Anima 1 Contro 1
Supp lies
TOTAL PUBLIC SAFETY
STREETS AND HIGHWAYS:
Streets and Alleys
Salaries
Insurance
Retirement Contributions
Supp lies
Maintenance
Capital Outlay
Other
Street Lighting
Power and Light
Budgeted
$ 5,400
1,593
1,300
660
600
1,440
3,800
365
4,487
2,658
2,475
1,200
1,168
1,100
1 ,044
1,036
1,375
1,554
50
$ 77 .027
$ 35,840
7,140
4,172
3,200
4,100
90
TOTAL STREETS AND HIGHWAYS $ 63.142
8.600
SANITATION AND WASTE REMOVAL:
Refuse Collection & Disposal
Collection Service
Supplies, Fees and Other
$ 20,304
225
Actua 1
Difference
$ 2,707
1,343
1,179
1,081
892
653
3,910
532
$ 2,693
250
121
( 42 1)
(292 )
787
(110)
(167)
4,487
2,658
2,475
1,200
1,168
1,100
1 ,044
1,036
1,375
1,554
25
25
$ 75.291
$ 1. 736
$ 26,337
5,155
3,001
2,489
1,109
339
$ 9,503
1,985
1,171
711
2 , 99 1
(339)
90
7.674
$ 46.104
926
$ 17.038
$ 19,807
179
$
497
46
The notes to the financial statements are an integral part of this
statement.
-9-
I
CITY OF ST. JOSEPH
I GENERAL FUND
STATEMENT OF EXPENDITURES-ESTIMATED AND ACTUAL
For the Year Ended December 31, 1978
I (CONTINUED)
Budgeted Actual Difference
I Weed Eradication
Chemicals, Supplies, Labor $ 100 $ 139 $ (39)
I TOTAL SANITATION AND
WASTE REMOVAL $ 20.629 $ 20.125 $ 504
I RECREATION:
Recreation Activities and
Facilities
I Swim Program $ 1,020 $ 3,300 $ (2,280)
Salaries 3,980 2 ,516 1,464
Supplies, Insurance, Fees 868 691 177
I Ball Park ~ Skating Rink 375 562 ( 187)
Hockey Rink 845 392 453
Capital Outlay 57 (57)
Parks and Playground
I Insurance 823 1,757 (934)
Supplies & Maintenance 708 837 ( 129)
Millstream Park 458 (458)
I Capital Outlay 227 (227)
TOTAL RECREATION $ 8.619 $ 10.797 $ (2.178)
I MISCELIANEOUS:
East End Project
I Kenko, Inc. $ 7,718
Printing 399
Milner Carley-Projects 5,343
Financial Schedule 850
I Refund 500
Anti-Recession Fund Insurance 1,263
Capital Outlay (papers) 2,901
I Other 660
TOTAL MISCELIANEOUS $ 10.381 $ 19.634 $ (9.253)
I TOTAL EXPENDITURES $235.246 $224,769 $ 10.477
OTHER USES:
I Transfers to other funds
1970 Water System 2,850 (2,850)
Wastewater Treatment Plant
I Upgrading 2.473 (2.473)
TOTAL EXPENDITURES AND
OTHER USES $235.246 $230.092 $ 5. 154
I The notes to the financial statements are an integral part of this
statement. .
I -10-
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CITY OF ST. JOSEPH
SPEC IA L REVENUE FUNDS
COMBINING BALANCE SHEET
December 31, 1978
Community
Development
Block Grant
Federal
Revenue
Sharing
ASSETS
Cash
Investments
Interest Receivable on Investments
Entitlements Receivable
(See 1978
Special
Assessment
for detail)
$ 1,738
14,500
172
4.864
$ 21.274
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
Fund Balance - Unappropriated
$ 21.274
TOTAL LIABILITIES AND FUND BALANCE
$ 21.274
The notes to the financial statements are an integral part of this
statement.
-11-
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CITY OF ST. JOSEPH
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 1978
REVENUES
U.S. Treasury
Interest
TOTAL REVENUES
EXPENDITURES
Advisory Service
Publication .
Capital Outlay:
Land
Equipment
TOTAL EXPENDITURES
TRANSFER TO:
General Fund
Water Fund
Plant Operation & Maintenance
TOTAL EXPENDITURES & TRANSFERS
NET INCREASE (DECREASE) IN FUND
BALANCE DURING THE YEAR
FUND BALANCE, JANUARY 1
FUND BALANCE, DECEMBER 31
COOIJ1unity
Deve lopmEmt
B lock Grant
(See 1978
Special
Assessment
For Detai 1)
Federal
Revenue
SharinS?;
$ 20,530
809
$ 21.339
$ 65
62
3,780
15.944
$ 19,851
963
633
1.483
$ 22.930
(1,591)
22.865
$ 21.274
The notes to the financial statements are an integral part of this
statement.
-12-
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The notes to the financial statements are an integral part of this
statement.
-13-
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CITY OF ST. JOSEPH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
December 31, 1978
Water Treat-
Millstream ment Plant
Park Up~rading Tota 1
ASSETS
Cash $ 21,577 $ 3,973 $ 25,550
Investments
Interest Receivable on Invest-
ments
Accounts Receivable
Due from Other Funds
Due from Other Governments 14.907 14.907
TOTAL ASSETS $ 21.577 $ 18.880 $ 40.457
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable $ 2,031 $ 12 , 912 $ 14,943
Contracts Payable
Due to Other Funds-General 4.265 4.265
TOTAL LIABILITIES $ 2,031 $ 17,177 $ 19,208
Fund Balance 19.546 1.703 21.249
TOTAL LIABILITIES AND
FUND BALANCE $ 21.577 $ 18.880 $ 40.457
The notes to the financial statements are an integral part of this
statement.
-14-
I
I CITY OF ST. JOSEPH
CAPITAL PROJECTS FUND
I COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BAlANCE
For the Year Ended December 31, 1978
I Water Treat-
Millstream ment Plant
I Park Upgrading Tota 1
REVENUES
I Intergovernmental Revenues
U.S. Grant $ $ 11,005 $ 11,005
State Grant 26.000 3,902 29,902
I Total Intergovernmental
Revenue $ 26,000 $ 14,907 $ 40,907
Other Revenues
I Interest on Investments $ 605 $ 139 $ 744
Plan Deposit 70 70
Total Other Revenue $ 675 $ 139 $ 814
I TOTAL REVENUES $ 26,675 $ 15,046 $ 41,721
I OTHER SOURCE S
Transfers from General Revenue 2.473 2,473
I TOTAL REVENUES AND OTHER SOURCES $ 26.675 $ 17,519 $ 44, 194
EXPENDITURES
I Construction Cost
Engineering $ $ 13,62 1 $ 13,621
Equipment Rental 2,032 2,032
I Lighting 2,013 2,013
Supplies 1,099 1 ,099
Insurance 950 950
Service - Interest 747 1.250 1.997
I
TOTAL EXPENDITURES $ 6,841 $ 14,871 $ 21,712
I OTHER USES
Transfers to General Revenue 288 288
I TOTAL EXPENDITURES AND OIBER
USES $ 7 .129 $ 14 . 87 1 $ 22.000
NET INCREASE (DECREASE) IN FUND
I BA LA NCE $ 19,546 $ 2,648 $ 22,194
FUND BA lANCE, JANUARY 1 (945) ( 94 5 )
I FUND BAlANCE, DECEMBER 31 $ 19,546 $ 1,703 $ 21,249
I The notes to the financia 1 statements are an integra 1 part of this
statement.
-15-
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-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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CITY OF ST. JOSEPH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 1978
Water
Fund
Plant Operation
and Maintenance
Fund
Tota 1
1978 1977
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ASSETS
Current Assets:
Cash $ 17,278 $ 12 ,914 $ 30,192 $ 23,095
Accounts Receivable 6,381 9,969 16,350 14 ,492
Interest Receivable on
Investment 172 172 172
Delinquent Taxes Receiv-
able 53
Investment in Certificates
of Depos it 14.000 14.000 14,000
Total Current Assets $ 37 . 83 1 $ 22,883 $ 60,714 $51,812
Fixed Assets:
Land $ 2,336 $ 4 , 94 1 $ 7,277 $ 7,277
Treatment Plant & Lines 280.190 443,622 723,812 72 3,812
Machinery and Equipment 41,201 13,236 54,437 52,987
Construction in Progress 2,417 2.417 2 ,417
Total Fixed Assets $323.727 $464.216 $787.943 $786,493
TOTAL ASSETS $361.558 $487,099 $848,657 $838,305
LIABILITIES, CONTRIBUTIONS AND
RETAINED EARNINGS
Current Liabilities:
Accounts Payable $ 4,495 $ 1,556 $ 6,051 $ 2,604
Contribution from Spec-
ia 1 Assessments 219,952 391,610 611,562 611 , 562
Retained Earnings,
Unreserved 137 , III 93,933 231.044 224,139
TOTAL LIABILITIES, CON-
TRIBUTIONS & RETA INED
EARNINGS $361,558 $487,099 $848,657 $838,305
The notes to the financial statements are an integral part of this
s ta tement.
-18-
I
I CITY OF ST. JOSEPH
I COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1978
I Plant Operation Tota 1
Water and Maintenance
I Fund Fund 1978 1977
REVENUES
Sales & Rental Charges $ 21,771 $ 12,329 $ 34,100 $ 30,906
I Service and Permits 6,515 370 6,885 1,177
Taxes and Assessments 148 148 221
Operation Cost Share 11,352 11,352 9,763
I Interest 1,099 206 1,305 767
Other Miscellaneous 407 407
TOTA L REVENUE S $ 29.792 $ 24.405 $ 54.197 $ 42.834
I
EXPENSES
Salaries $ 9,999 $ 7,580 $ 17,579 $ 14,182
I Power, Pumping, Heat &
Light 3 , 143 3,356 6,499 6,639
Repair & Maintenance 2,574 1,781 4,355 1 ,448
I Sales Tax 760 760 728
Supp lies 3 , 6 13 3,386 6,999 4,621
Hospita lization 451 451 450
Insurance 1,543 3,583 5,126 3,636
I PCA Tes ts 700 700 746
Filtration 781 781 713
Retirement Contributions 1,100 701 1,801 1,704
I Water Thaw 575 575 166
Inspection Fees 1 , 3 14 180 1,494
Other Miscellaneous 564 1. 724 2.288 1.457
I TOTAL EXPENSES $ 26.417 $ 22.991 $ 49.408 $ 36.490
NET TNCOME TO RETA INED
I EARNINGS $ 3,375 $ 1 ,414 $ 4.789 $ 6,344
TRANSFERS FROM (TO) OTHER
I FUNDS 633 1,483 2, 116
RETA INED EARNINGS, JANUARY 1 133. 103 91.036 224.139 217,795
I RETAINED EARNINGS, DECEMBER 31 137 .111 $ 93.933 $231.044 $224 , 139
I
I The notes to the financial statements are an integral part of this
statement.
-19-
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CITY OF ST. JOSEPH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1978
Water
Fund
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income for the Year $ 3,375
Add: Items not requiring
Current outlay of re-
sources
Loss on Disposal of Equip-
ment 333
Total Resources Provided by
Operations $ 3,708
Contributed Capital
Sale of Fixed Assets
Transfers from Other Funds
Other
633
TOTAL RESOURCES PROVIDED BY
ALL SOURCES $ 4.341
USE OF FINANCIAL RESOURCES
Acquisition of Fixed Assets$
Retirement of Long-te~ebt
Transfers to Other Funds
Other
633
TOTAL USES OF FINANCIAL
RESOURCES $
633
NET INCREASE (DECREASE) IN
WORKING CAPITAL $
3.708
COMPONENT ELEMENTS OF INCREASE
(DECREASE) IN WORKING CAPITAL
Cash $
Accounts Receivable (net)
Delinquent Taxes Receivable
Interest Receivable on
Investments
Tnvestment in Certificates
of Depos it
Accounts Payable
7,692
(897)
(3 . 087)
NET INCREASE (DECREASE) IN
WORKING CAPITAL $
3,708
Plant Operation
and Maintenance
Fund
$ 1 ,414
333
$ 1,747
1 , 4 83
$ 3.230
$ 1,483
$
1,483
Tota 1
1978 1977
$ 4,789 $ 6,344
666 250
$ 5,455 $ 6,594
2, 116
$ 7.571 $ 6.594
$ 2,116 $ 1,028
$ 2 ,116
$
1,028
$
1.747
$ 5 .455
$
5,566
$
( 595)
2,755
(53)
$ 7,097
1,858
( 53)
$
(215)
0,710)
53
( 360)
$
1,747
93
(3,447)
7,000
345
$ 5 .455
$
5,566
The notes to the financial statements are an integral part of this statement.
-20-
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CITY OF ST. JOSEPH
WA TER FUND
COMPARA TIVE BALANCE SHEET
December 31, 1978
ASSETS
Current Assets:
Cash
Accounts Receivable
lnterest Receivable on lnvestments
Delinquent Taxes Receivable
Investment in Certificates of Deposit
Total Current Assets
Fixed Assets:
Land
Water Treatment Plant and Lines
Machinery and Equipment
Total Fixed Assets
TOTAL ASSETS
LIABILITIES, CONTRIBUTIONS & RETAINED EARNINGS
Current Liabilities:
Accounts Payable
Contributions from Special Assessments
Retained Earnings, Unreserved
TOTAT_ LIABILITIES, CONTRIBUTIONS AND
RETAINED EARNINGS
I
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Year Ended December 31
1978
1977
$ 17,278 $ 9,586
6,381 7,278
172 172
14,000 14,000
$ 37 , 83 1 $ 31,036
$ 2,336 $ 2,336
280,190 280, 190
41,201 40,901
$323,727 $323,427
$361,558 $354,463
$ 4,495
219,952
137,111
$ 1,408
219,952
133,103
$361,558
$354,463
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
WATER FUND
C<J.tPARA TIVE STATEMENT OF REVENUES, EXPENSE S,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1978
1978
Year Ended December 31
1977
REVENUES
Sales
Service and Permits
Interest
Other Miscellaneous
$ 21,771
6,515
1,099
407
TOTA L REVENUE S
$ 29,792
EXPENSES
Salaries
Retirement Contributions
Power, Pumping, and Heating for Wells
Repair and Maintenance
Sales Tax
Supplies
Hospita lizat ion
Insurance
Filtration
Water Thaw
Inspection Fee
Other Miscellaneous
$ 9 , 999
1,100
3 , 143
2,574
760
3,613
451
1 , 543
781
575
1,314
564
TOTA L EXPENSES
$ 26,417
$ 3,375
NET INCOME TO RETA INED EARNINGS
TRANSFERS FROM (TO) OTHER FUNDS
633
RETAINED EARNINGS, JANUARY 1
133 ,103
$137 , III
RETAINED EARNINGS, DECEMBER 31
$ 20,514
1,097
767
$ 22,378
$ 8,193
973
2,865
1,092
728
2,376
450
1,152
713
166
618
$ 19,326
$ 3,052
130,051
$ 133 , 103
The notes to the financial statements are an integral part of this
statement.
-22-
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CITY OF ST. JOSEPH
WA TER FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1978
1978
Year Ended December 31
1977
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income for the Year
Add: Items not requiring current
Outlay of Resources
Loss on Disposal of Equipment
$ 3,375
333
$ 3,708
Total Resources Provided by Operations
Contributed Capital
Sale of Fixed Assets
Transfers from Other Funds
Other
633
TOTAL RESOURCES PROVIDED BY ALL SOURCES
$ 4 .34 1
USE OF FINANCIAL RESOURCES
Acquisition of Fixed Assets
Retirement of Long-Term Debt
Transfers to Other Funds
Other
$ 633
TOTAL USES OF FINANCIAL RESOURCES
$ 633
NET INCREASE (DECREASE) IN WORKING CAPITAL
$ 3.708
COMPONENT ELEMENTS OF INCREASE (DECREASE)
IN WORKING CAPITAL
Cash
Accounts Receivable (net)
Interest Receivable on Investments
Investment in Certificates of Deposit
Accounts Payable
$ 7,692
(897)
(3,087)
$ 3,708
NET INCREASE (DECREASE) IN WORKING CAPITAL
$ 3,052
250
$ 3,302
$ 3,302
$ 1,028
$ 1 ,028
$ 2,274
$ (4,879)
(312 )
93
7,000
372
$ 2,274
The notes to the financial statements are an integral part of this
statement.
-23-
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CITY OF ST. JOSEPH
PLANT OPERATION AND MAINTENANCE FUND
CCMPARATIVE BALANCE SHEET
December 31, 1978
Year Ended December 31
1978
1977
ASSETS
Current Assets:
Cash
Accounts Receivable
Delinquent Taxes Receivable
Total Fixed Assets
$ 12 ,914 $ 13 ,509
9,969 7,214
53
$ 22.883 $ 20.776
$ 4,941 $ 4 , 94 1
443,622 443,622
13,236 12 ,086
2.417 2.417
$464.216 $463.066
$487.099 $483.842
Total Current Assets
Fixed Assets:
Land
Sewer Treatment Plant and Lines
Machinery and Equipment
Construction in Progress
TOTAL ASSETS
LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS
Current Liabilities:
Accounts Payable $ 1,556
$ 1, 196
Contributions from Special Assessments
391,610
391,610
Retained Earnings, Unreserved
93.933
91.036
TOTAL LIABILITIES, CONTRIBUTIONS AND
RETA INED EARNINGS
$487.099
$483.842
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
PIANT OPERATION AND MAINTENANCE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS
For the Year Ended December 31, 1978
Year Ended December 31
1978 1977
REVENUES
Sewer Rental Charges $ 12,329 $ 10,392
Operation Cost Share 11,352 9,763
Service and Permits 370 80
Taxes and Assessments 148 221
Interest 206
TOTA l. REVENUES $ 24,405 $ 20,456
EXPENSES
Salaries $ 7,580 $ 5,989
Power, Hea t, and l.ight 3,356 3,774
Supp lies 3,386 2,245
Maintenance and Repair 1,781 356
Insurance 3,583 2,484
PCA Tests 700 746
Retirement Contributions 701 731
Inspection Fee 180
Other Miscellaneous 1,724 839
TOTAl. EXPENSES $ 22 , 991 $ 17,164
NET INCOME TO RETAINED EARNINGS $ 1,414 $ 3,292
TRANSFERS FROM (TO) OTHER FUNDS 1,483
RETAINED EARNINGS, JANUARY 1 91,036 87,744
RETAINED EARNINGS, DECEMBER 31 $ 93,933 $ 91 , 036
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
PLANT OPERATION AND MAINTENANCE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
For the Year Ended December 31, 1978
1978
Year Ended December 31
1977
SOURCES OF FINANCIAL RESOURCES
Operations
Net Income for the Year
Add: Items not requiring current
Outlay of Resources -
Loss on Disposal of Equipment
$ 1,414
333
Total Resources Provided by Operations
S 1,747
Contributed Capital
Sale of Fixed Assets
Transfers from Other Funds
Other
1,483
TOTAL RESOURCES PROVIDED BY ALL SOURCES
$ 3,230
USE OF FINANCIAL RESOURCES
Acquisition of Fixed Assets
Retirement of Long-term Debt
Transfers to Other Funds
Other
$ 1,483
TOTAL USES OF FINANCIAL RESOURCES
$ 1,483
$ 1,747
NET INCREASE (DECREASE) IN WORKING CAPITAL
COMPONENT ELEMENTS OF INCREASE (DECREASE)
IN WORKING CAPITAL
Cash
Accounts Receivable (net)
Delinquent Taxes Receivable
Accounts Payable
$ (595)
2,755
(53)
(360)
NET INCREASE (DECREASE) IN WORKING CAPITAL
$ 1. 747
$ 3,292
$ 3,292
$ 3,292
$
$ 3 ,292
$ 4,664
(l,398)
53
( 2 7)
$ 3 ,292
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
STATEMENT OF GENERAL FIXED ASSETS
December 31, 1978
GENERAL FIXED ASSETS
TOTAL GENERAL FIXED ASSETS
$ 26,831
28,240
836,667
226,580
26,947
$1,145,265
Land
Bui 1dings
Improvements other than Buildings
Equipment
Construction in Progress
INVESTMENT TN GENERAL FIXED ASSETS FROM:
TOTAL INVESTMENT IN GENERAL FIXED ASSETS
$ 194,919
800,088
123,311
26,947
$1,145,265
General Fund Revenue
Special Assessments
Revenue Sharing
Capital Projects
The notes to the financial statements are an integral part of this
statement.
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CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1978
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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.
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A. Bases of Accounting:
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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.
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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.
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B. Recognition of Property Taxes:
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The amount of uncollected property taxes for the City are immaterial.
The delinquent amounts, except for an immaterial amount, are collected,
so all delinquents are accrued at the end of each year.
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C. Cash and Temporary Investment:
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Cash balances from all funds are pooled and invested to the extent avail-
able in certificates of deposit. Earnings from such investments were
allocated to the funds on the basis of applicable cash balance participatbn
by each of the funds. Additional certificates of deposit, besides the
amounts shown on the balance sheets, were purchased January 4, 1979 in
the amount of $238,500.
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D.
General Fixed Assets:
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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 Accountant's Report for non audit status
of General Fixed Assets.
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E. Depreciation:
Enterprise Funds -
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Generally accepted accounting principles require that depreciation be
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CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1978
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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.
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General Fixed Assets -
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No depreciation has been provided on general fixed assets.
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F. Budgetary Data:
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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.
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Note 2 - Long-Term Debt
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The long-term debt obligations outstanding and related maturities and interest
rates are described in Supplementary Financial Information - Combined Schedule
of Indebtedness.
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A. Special Assessment Bonds:
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Those bonds are recorded as a liability in the Special Assessment funds.
The bonds are payable primarily from special assessments to be levied and
collected for local improvements, and are backed by the full faith of the
city.
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B. Intrafund Payables:
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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 1978 the following are the intrafund receivables and
(payables):
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CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1978
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1961 1965 1970
Sewer Street Water
$ 47,502 $(47,502)
$ 22,498 (22,498)
16,452
2,235
$ 63,954 $ 22,498 $ 2,235
$(70,000)
1973
Water
1976
Street
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$(16,452)
$ (2,235)
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$ (2,235)
$(16,452)
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C. The city has no general obligation bonds outstanding. The special
assessment bonds described above are a primary obligation on the special
assessment funds, but are backed by the full faith of the city.
Note 3 - Pension Plans
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City employees, with some minor exceptions such as students, must belong to
the Public Employees Retirement Association (PERA). Tax levies for the city
contribution to PERA included an amount to retire prior years' unfunded
liabilities with full funding required by the year 1977. The total contribution
to PERA and Social Security for 1978 were $10,871. The Public Employees
Retirement Association is state-wide and an individual city's portion of
unfunded reserves is not available.
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The volunteer Firemen's Relief Fund is a pension plan financed by contributions
from the State, City and St. Joseph Township. The city and Township are
required to pay annually the excess of the increase in pension liability for
the following year over the projected interest earnings and State 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. During the year the firemen's lump sum pension benefit was increased
to $6,000, thus increasing the required contributions described above. The
City's $1,200 1978 contribution did not meet these requirements. No liability
was recorded for the deficiency, but the amount is not expected to be material.
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Note 4 - Other Accounting Policies Applicable to the Various Funds
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The following notes explain accounting policies that relate to each fund
individually and are not necessarily accounting policies for the whole city.
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A. General Fund
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There are five areas of activity within the General Fund for which special
financing is provided on an ongoing basis. The spending from such special
financing is restricted to those designated activities. These activities
may have asset balances at year-end and the year-end balances so restricted
for spending purposes are described in the General Fund Balance sheet as
'~ppropriated Fund Balance." These five areas of activity are:
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CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1978
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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.
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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 1978.
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Special Police - This fund's revenues come only from state aid and
must be spent on policeman's retirement contributions (PERA).
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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.
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Anti-Recession - This fund received funds from the Federal government,
but this program has now been completely phased out.
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The amount in the five 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.
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There are three funds that owe monies to the General Fund and are listed as
"Due from..."; the three funds are "Wastewater Treatment Plant Upgrading,"
"1975 Sidewalk Improvements," and "1978-A Street 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 $4,265 more than its
ten percent share of accumulated costs at year end. The City also financed
the "1975 Sidewalk Improvement" and still has special assessments of $1,448
due to it. The General Fund paid the beginning expenses of the "1978-A Street
Improvements" before the latter fund was set up, and a receivable/payable was
set up for those expenses paid.
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B. Special Revenue Funds
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The city received two special revenues of significant amounts that are
recorded outside of the general fund. These are "Federal Revenue Sharing"
and "Corrnnunity Development Block Grant." The "Corrnnunity Development Block
Grant" financed $225,000 of the East End Development Project with the
remaining $310,000 coming from "1978 Bond Improvement" assessments. There-
fore, the detai 1 of the "Corrnnunity Deve lopment B lock Grant" is recorded
together with this larger special assessment in Special Assessment Funds.
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CITY OF ST. JOSEPH
NOTES TO FINANCIAL STATEMENTS
As of December 31, 1978
C.
Capital Pro;ects
The city had two capital projects in progress during 1978. The Millstream
Park Fund received a $26,000 State Grant to be matched by city funds,
labor, or donations. The funds were spent to construct and develop Mill-
stream Park.
The Wastewater Treatment Plant Upgrading is a three step project to improve
the sewer plant and lines. This fund is reimbursed for its expenses 75%
from the Federal government, 15% from the State government and 10% from
the City. The project is currently in the second step with most of these
expenditures being engineering costs.
D. Special Assessments
Special Assessment Funds utilize the accrual basis of accounting except
for the interest income on assessments receivable that have not yet been
received in cash or the offsetting interest expenses on bonds payable
that have not yet been paid in cash.
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 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.
The 1978 Bond Improvement has three areas that require further explanations.
First, cash proceeds of the $310,000 bonds was $304,777 plus $312
of accrued interest. The difference of $5,223 between the $310,000 and
$304,777 is a finance charge which has been expensed completely this year
as a part of interest expense.
Second, the fund balance is broken out between that portion which is held
for construction and that which is held to retire the debt. Fund balance
construction was figured by taking the total estimated construction cost
of $535,000 less the amount of $485,456 already spent on construction.
The remaining fund balance of $32,663 is considered fund balance - Debt
Service, that is, the part of the Fund Balance that is dedicated to future
debt retirement.
Third, the total amount assessed to individual property holders was
$341,400 more than their share of the Eastside Development Project. The
extra assessment is an additional charge to benefitting property holders
for construction and services paid by other funds. ft is anticipated that
this balance will ultimately be transferred to those funds that initially
paid these costs.
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MARLIN J. BOECKMANN
Certified Public Accountant
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4065 82nd Avenue North
Minneapolis, Minnesota 55443
MEMBER:
American Institute
o[C.P.A. 's
Minnesota Society
o[C.P.A. 's
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August 3, 1979
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COM MEN T S
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City of St. Joseph
St. Joseph, Minnesota
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The audited financial statements of the city and its various special
funds and our report thereon are presented in the preceding section of
this report. The financial information presented hereinafter was derived
from the accounting records tested by us as part of the auditing pro-
cedures followed in our examination of the aforementioned financial state-
ments 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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CITY OF ST. JOSEPH
ENTERPRISE FUNDS
SCHEDULE OF FIXED ASSETS
For the Year Ended December 31, 1978
Jan. 1 Addi- Deduc- Dec. 31
Ba 1a nce tions tions Balance
WA TER FUND
Contributed Assets
Land $ 2,336 $ $ $ 2,336
Buildings 280,190 280,190
Machinery and Equipment 40,901 633 333 41,201
Construction Work in Progress
TOTAL WATER FUND $323.427 $ 633 $ 333 $323.727
PlANT OPERATION AND MA INTENANCE
Contributed Assets
Land $ 4 , 94 1 $ $ $ 4,941
Buildings 443,622 443,622
Machinery and Equipment 12 ,086 1,483 333 13,236
Construction Work in Progress 2.417 2,417
TOTA L PlANT OPERATION & MAINTEN-
ANCE $463.066 $ 1.483 $ 333 $464.216
ALL ENTERPRISE FUNDS - TOTAL FIXED
ASSETS $786.493 $ 2 . 116 $ 666 $787,943
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