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CITY OF ANDOVER
ANDOVER, MINNESOTA
AUDIT REPORT
DECEMBER 31, 1978
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CITY OF ANDOVER
ANDOVER, MINNESOTA
CITY OFFICIALS
Mayor -
Gerald Windschitl
Council -
Theodore M Lachinski
Robert E. McClure
Kenneth Orttel
Mary VanderLaan
Clerk - Treasurer -
Patricia K. Lindquist
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Term of
Office Expires
December 31,
December 31,
December 31,
December 31,
December 31,
1978
1980
1978
1980
1978
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OLSEN, THIELEN 8: CO.
223 LIITLE CANADA ROAD AT HIGHWAY 35-E
ST. PAUL, MINNESOTA 1515117
TELEPHONE (612) 483.4521
Honorable Mayor and City Council
City of Andover
1685 Crosstown Blvd. NW
Adnover, Minnesota 55303
We have examined the balance sheets of the various funds and account
groups of the City of Andover as of December 31, 1978, and the related
statements of revenues, 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 considered
necessary in the circumstances.
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The City has not maintained detailed cost records of its general fixed
assets which are shown on the balance sheet and further explained in Note
1.
In our OpiniOn, the basic financial statements listed in the forgoing table
of contents, other than the financial statements of the general fixed
assets, present fairly the financial position of the City of Andover at
December 31, 1978, in conformity with generally accepted accounting
principles.
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January 17, 1979
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o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
BALANCE SHEET
DECEMBER 31, 1978
ASSETS
TOTAL ASSETS
$105,978.81
175.00
6,660.93
2,696.75
28,525.00
72,688.95
11,367.00
$228.092.44
Cash
Imprest Cash
Taxes Receivable, Delinquent
Accounts Receivable
Due from Other Governmental Units
Due from Other Funds
Prepaid Expense
LIABILITIES AND FUND BALANCE
o
LIABILITIES:
Accounts Payable
Planning and Zoning Escrow Deposits
Sewer Availability Charge Escrow Deposits
Deferred Payable - Metropolitan Waste
Control Commission
Due To Other Funds
Total Liabilities
$ 14,829.60
6,561.93
14,700.00
50,681.43
1,644.00
88,416.96
FUND BALANCE:
Designated For Imprest Cash
Designated For Prepaid Expenses
Undesignated
Total Fund Balance
175.00
11,367.00
128,133.48
139,675.48
TOTAL LIABILITIES AND FUND BALANCE
$228.092.44
o
The accompanying notes are an integral part of the financial statements.
5
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Page 1 of 10
Actual
Budget
REVENUES:
Property Taxes:
Current
Delinquent
Area Wide Apportionement
Penalties and Interest
$121,654.66
3,608.28
6,691.71
550.22
$114,909.00
4,500.00
Total Property Taxes
132,504.87
1,500.00
120,909.00
o
"
Licenses and Permits:
Business:
Cigarette
Contractor
Dog Kennel
Junk Yard
Nonintoxicating Malt Liquor
Nonbusiness:
Building
Energy
Reports
Heating
Plumbing
Sewer
Sewer Connection
Sewer Pumping
Well
Certificate of Occupancy
Dog
Dump
Other
Total Licenses and Permits
12.00 12.00
6,725.00 5,000.00
50.00 100.00
1,200.00 450.00
50.00 80.00
34,805.05 27,750.00
555.00 2,250.00
64.00 100.00
2,439.50 2,250.00
5,485.00 5,250.00
4,075.00 3,000.00
1,997.00 2,500.00
630.00 375.00
2,490.00 2,500.00
596.00 600.00
231.00 600.00
1,200.00 2,440.00
64.00 430.00
62,668.55 55,687.00
o
\.
The accompanying notes are an integral part of the financial statements.
6
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Page 2 of 1 0
Actual Budget
REVENUES: - (Continued)
I ntergovernmental Revenue:
Federal Grants:
Comprehensive Employment Act $ 25,180.02 $ 22,491.00
State Grants:
Homestead Credit 42,412.27 50,771.00
State Highway Aid 17,415.00 12,500.00
Local Government Aid 75,415.00 75,415.00
Agricultural Credit 1,600.00
Tennis Court Grant 14,225.00
Roadway Signs 11,790.99 15,000.00
Fire Department 1,500.00
C Other Local Governments:
Planning Grant 4,248.00 4,700.00
Total Intergovernmental Revenue 192,186.28 182,477.00
Charges for Services:
General Government:
Zerox Copies
Assessment Searches
Sale of Maps and Ordinances
Plat Fees
Special Use Variance
p'ublic Safety:
Dog Impounding and Board
San itation:
Administrative Fees - Sewer Project
Total Charges for Services
124.93
1,374.00 1,500.00
135.65 300.00
3,600.95 3,250.00
2,350.00 1,000.00
1,390.00 1,200.00
1 ,215. 00 ,j 1,200.00
10,190.53 8,450.00
6,615.58v 9,000.00
Fines and Forfeits:
County Court Fines
il-~
111;~/
\/~ f. ~
J/'"
o
The accompanying notes are an integral part of the financial statements.
7
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
REVENUES: - (Continued)
Page 3 of 10
Actual Budget
Miscellaneous Revenues:
Interest on Time Deposits $ 8,421.44.~ $ 1,500.00
Contributions - Park Purpose 1,600.00 3,000.00
Employee I nsurance Collections 840.18v 1,390.00
Pop Vending Machine 707.10""
Other 2,135.00v 600.00
Revenue Collected for Other Agencies: ,./
Sewer Availability Charges 40,160.00
Sewer Availability Charges, Surcharge 4,860.00
Planning and Zoning Escrow Deposits 7,125.00 ;I 15,000.00
Refunds and Reimbursements ~yV
County 538.08.l
Total Miscellaneous Revenues 66,386.80 21,490.00
Total Revenues 470,552.61 398,013.00
0 OTHER SOURCES:
Reserve January 1, 1978 ~,) 11,621.00
Iq(- \
Transfers From Other Fund: l/'
77-1 Improvement Fund 10,000.00
Revenue Sharing Fund 45,190.00 32,729.00
Total Other Sources 56,811.00 42,729.00
Total Revenues and Other Sources 527,363.61 440,742.00
o
The accompanying notes are an integral part of the financial statements.
8
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Page 4 of 1 0
Actual Budget
EXPENDITURES:
General Government:
Legislative:
Council:
Salaries $ 8,400.00 $ 8,400.00
Employer Contributions 508.44 300.00
Miscellaneous 1,684.00 200.00
Membership Dues 2,130.00
Insurance 1 ,751 .01 3,000.00
Publication of Ordinance and
Proceedings 209. 15 300.00
Total Council 12,552.60 14,330.00
Legislative Committees 854.78 1,820.00
Executi ve:
0 Mayor:
Salary 2,400.00 2,400.00
Benefits 60.00
Transportation and Conferences 145 . 35 170. 00
Total Mayor 2,545.35 2,630.00
Administration:
Salaries, Clerk Treasurer 16,604.91 15,750.00
Salaries, Other 15,119.30 15,000.00
Employer Contributions:
Pension 1,736.27 1,691.00
Social Security 1 , 915 . 85 1,799.00
Insurance 693.32 801.00
Office Supplies 1,087.22 500.00
Postage 873.34 1,000.00
Transportation 311 .70 300.00
Printing 457.73 1,200.00
Surety Bond Premium 375.00 125.00
Repair and Maintenance 59.50 100.00
Copy Machine Rent 659.79 720.00
School Dues 339.75 390.00
Other 10.80 100.00
Capital Outlay:
Office Equipment 62.50 500.00
Total Administration 40,306.98 39,976.00
o
The accompanying notes are an integral part of the financial statements.
9
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Actual
Page 5 of 10
EXPENDITURES: - (Continued)
General Covernment: (Continued)
Elections:
Salaries
Supplies
Capital Outlay
Voting Machines
Budget
$ 3,045.45 $ 3,300.00
502.04 250.00
1,357.97 200.00
4,905.46 3,750.00
Total Elections
o
Assessing:
Salary
Employer Contributions:
Pension
Social Security
Insurance
Office Supplies
Transportation
School Dues
6,265.44
179.51
149.90
245.98
89.80
399.96
Total Assessing
7,330.59
3,325.00
22,509.81
28,726.50
Auditing
Legal
Engineering
Personnel Administration:
Unemployment Benefits
Workmen's Compensation
Merit Increases
2,109.89
Total Personnel Administration
2,109.89
10,379.00
570.00
607.00
754.00
200.00
450.00
150.00
13,110.00
3,500.00
19,700.00
32,200.00
2,200.00
2,600.00
5,680.00
10,480.00
10
The accompanying notes are an integral part of the financial statements.
o
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Page 6 of 10
Actual Budget
EXPENDITURES: - (Continued)
General Government: (Continued)
Planning and Zoning:
Salaries:
Members $ 2,181.00 $ 3,330.00
Clerical 5,608.19 4,940.00
Employer Contributions:
Pension 308.64 272.00
Social Security 339.45 289.00
Insurance 182 . 80 188.00
Office Supplies 469.81 500.00
Professional Services:
Planners 5,805.00 10,700.00
Miscellaneous 37.50
Printing 603. 15 750.00
0 Refunds 500.00
Postage 300. 14 600.00
Transportation 6.00
Xerox Rental 1,135.33 1,440.00
Capital Outlay:
Equipment 62.50
Total Planning and Zoning 17,039.51 23,509.00
General Government Buildings:
Salary of Custodian
Employer Contributions:
Pension
Social Security
Insurance
Supplies:
Office
Operating
Communication
Insurance
Public Utility Services
Repair and Maintenance
Mi scellaneous
Capital Outlay:
Building Improvements
Total General Government Buildings
o
Total General Government
2,348.08 2,142.00
29.93 118 . 00
142.20 125.00
62.40 75.00
249.12 300.00
1,631.10 1,600.00
1,802.96 $ 1,800.00
2,169.40 5,500.00
2,264.68 2,000.00
404.81 500.00
51.24 100.00
245.00 600.00
11,400.92 14,860.00
153,607.39 179,865.00
The accompanying notes are an integral part of the financial statements.
11
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
EXPENDITURES: - (Continued)
Public Safety:
Police Protection $ 78,065.61 $ 83,656.00
Fire Protection:
Workmen's Compensation 2,113.44 3,500.00
Supplies 1,767.32 1,550.00
Small Tools and Equipment 3,319.30
Insurance 3,957.94 3,500.00
City of Anoka Fire Department 15,474.07 13,000.00
Schools 894.60 1,500.00
Other 1,578.24 950.00
Capital Outlay:
Machinery and Equipment 46,425.84 49,050.00
Total Fire Protection 75,530.75 73,050.00
0 Protective Inspection:
Salaries 22,837.67 25,000.00
Employer Contributions:
Pension 1,241.01 1,300.00
Social Security 1,391.39 1,350.00
Insurance 1,168.17 1,538.00
Supplies:
Office 502.02 500.00
Operating 57.03
Postage 195.01 300.00
Printing 359.05 250.00
Transportation 2,398.11 1,200.00
-
Insurance 414.71 300.00
Membership Dues 396.10 820.00
Xerox Rental 567.67 720.00
Miscellaneous 491.50 1,600.00
Building Permit Surcharge 4,663.67
Sewer Availability Charges 40,154.40
Total Protective Inspection 76,837.51 34,878.00
Page 7 of 10
Actual Budget
o
The accompanying notes are an integral part of the financial statements.
12
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
EXPENDITURES: - (Continued)
Page 8 of 10
Actual Budget
Public Safety:
Animal Control:
Horsemen Clinic
Gopher Control
Operating Supplies
Contractual Services:
Dog Catcher
Total Animal Control
Total Public Safety
$ $ 200.00
484.70 600.00
7.25 150.00
4,294.61 5,000.00
4,786.56 5,950.00
235,220.43 197,534.00
o
Highways and Streets:
Street and Alley:
Salaries
Employer Contributions:
Pension
Social Security
Insurance
Repair and Maintenance
Printing
Insurance
Grading
Grading Projects
Repair Projects
Miscellaneous
Capital Outlay:
Equipment
Culverts
Snow and Ice Removal
Street Lighting
Street Signs
Total Highways and Streets
Sanitation:
Storm Sewers:
Maintenance
Professional Services:
Engineering
Public Utility Services
Contractual Cleaning
9,309.44 6,000.00
282.18 320.00
539.17 345.00
314.62 233.00
4,147.24 7,000.00
16.00
211 .61 280.00
30,319.94 14,000.00
378.00; 10,000.00
6,926.78 19,700.00
339.83 500.00
3,416.73 4,100.00
3,000.00
5,839.95 12,000.00
183.78 310.00
9,423.66 12,000.00
91,648.93 89,788.00
139.48
300.00
2,000.00
500.00
o
The accompanying notes are an integral part of the financial statements.
13
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
EXPENDITURES: - (Continued)
Page 9 of 10
Actual Budget
Sanitation: (Continued)
Diseased Trees:
Salaries
Employer Contributions:
Pension
Social Security
Insurance
Other
Transportation
Total Sanitation
$ 1,240.17 $ 2,471.00
68.14 131.00
80.89 143.00
79.64 221.00
119.49 3,450.00
7.20 1 00 . 00
1 ,735.01 9,316.00
o
Recreation:
Administration:
Commission Salaries
Parks:
Park Areas:
Salaries
Employer Contributions:
Pension
Social Security
Insurance
Supplies:
Offi ce
Repair and Maintenance
Repair and Maintenance
Midwest Planning
Insurance
Postage
Printing
Miscellaneous
Commission Schools
Capital Outlay:
Tennis Courts
Equipment
Other
Total Parks
Total Recreation
385.00 700.00
6,303.87 5,064.00
197.42 277 . 00
333. 17 296.00
295.32 309.00
157. 13
1,094.49 400.00
404.51 700.00
1,391.87 2,000.00
392.16 1,000.00
141.08
41.20
421 .15 760.00
7,855.65 8,500.00
39,445.52 40,000.00
870.36 3,500.00
393.40
59,738.30 62,806.00
60,123.30 63,506.00
o
The accompanying notes are an integral part of the financial statements.
14
o
GENERAL FUND
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Page 10 of 10
Actual
Budget
EXPENDITURES: - (Continued)
Miscellaneous:
Metropolitan Waste Control
Pop for Machine
Special Assessment on Land
676.90
$ 4,300.00
5,168.00
9,468.00
549,477.00
$
Total Miscellaneous
676.90
Total Expenditures
543,011.96
o
OTHER USES:
Transfers Out:
Sewer
Total Expenditures and Other Uses
11,899.71
554,911.67
549,477.00
NET INCREASE (DECREASE) IN FUND
BALANCE
FUND BALANCE, December 31
(27,548.06) $(108.735.00)
167,223.54
$139.675.48
FUND BALANCE, January 1
.
The accompanying notes are an integral part of the financial statements.
15
o
SPECIAL REVENUE FUNDS
CITY OF ANDOVER
ANDOVER, MINNESOTA
COMBINING BALANCE SHEET
DECEMBER 31, 1978
Federal
Revenue
Sharing Antirecession
Sewer
Total
ASSETS
""
Cash
Accounts Receivable
$614.98
$1,731.00
$15,122.32
10,566.75
$25,689.07
$17,468.30
10,566.75
$28.035.05
TOTAL ASSETS
$614.98
$1.731.00
LIABI LITI ES AND FUND BALANCE
LIABILITIES:
Accounts Payable $ $ $ 135.07 $ 135.07
0 FUND BALANCE 614.98 1,731.00 25,554.00 27,899.98
TOTAL LIABiliTIES AND
FUND BALANCE $614.98 $1.731.00 $25.689.07 $28.035.05
:0
The accompanying notes are an integral part of the financial statements.
16
o
SPECIAL REVENUE FUNDS
CITY OF ANDOVER
ANDOVER, MINNESOTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Federal
Revenue
Sharing
Anti-
recession
REVENUES:
Intergovernmental
Revenue:
Federal Grants
Charges for Service:
Sewer
Miscellaneous Revenues
Interest
Total Revenues
$ 28,760.00
$1,731.00 $
1, 193. 94
29,953.94
1,731 .00
o
Other Sources:
Transfer From General
Fund
Total Revenues and
Other Sources 29,953.94
1 ,731 .00
EXPENDITURES:
Sanitary Sewers:
Salaries
Employers Contributions:
Pension
Social Security
Insurance
Postage
Miscellaneous
Sewer Service Charge
Total Expenditures
OTHER USES:
Transfer to General Fund:
Police Protection 45,190.00
Total Expenditures
and Other Uses
45,190.00
NET INCREASE (DECREASE)
IN FUND BALANCE (15,236.06) 1,731.00
FUND BALANCE,
January 1
15,851.04
.
FUND BALANCE,
December 31
$
614.98 $1,731.00 $ 25,554.00 $ 27.899.98
Sewer Total
$ 30,491.00
37,729.73 ~7,729.73
I 1,193.94
37,867.07 69,414.67
11,899.71
49,629.44
5,157.45
231.09
317.61
288.06
141.08
275.07
17,665.08
24,075.44
24,075.44
25,554.00
11,899.71
81,314.38
5,157.45
231.09
317.61
288.06
141.08
275.07
17,665.08
24,075.44
45,190.00
69,265.44
12,048.94
15,851.04
The accompanying notes are an integral part of the financial statements.
17
o
CAPITAL PROJECTS FUNDS
CITY OF ANDOVER
ANDOVER, MINNESOTA
COMBINING BALANCE SHEET
DECEMBER 31, 1978
Prai rie Building
Road Bridges and
Improvement Improvement Equipment Total
ASSETS
Cash $ 1,579.75 $ 44,246.73 $327,290.55 $373,117.03
Investments 95,000.00 95,000.00
Due From Other
Governments 117 , 1 05 . 56 117,105.56
TOT AL ASSETS $118.685.31 $ 44.246.73 $422.290.55 $585.222.59
LIABI LITI ES AND FUND BALANCE
LIABI LITIES:
Accounts Payable $ $ $ 360.00 $ 360.00
0 Contracts Payable 58,856.07 8,496.61 67,352.68
Contracts Payable -
Retained 13,571.46 13,571.46
Easements Payable 2,100.00 2,100.00
Due to Other Funds 57,729.24 4,326.22 62,055.46
Unearned Grant 17,852.44 17,852.44
Total Liabilities 118,685.31 44,246.73 360.00 163,292.04
FUND BALANCE:
Designated For a
Specific Capital
Project 390,141.21 390, 141 . 21
Undesignated 31,789.34 31,789.34
Total Fund
Balance 421,930.55 421,930.55
TOTAL LIABI LITI ES AND
FUND BALANCE $118.685.31 $ 44.246.73 $422.290.55 $585.222.59
o
The accompanying notes are an integral part of the financial statements.
18
o
CAPITAL PROJECTS FUNDS
CITY OF ANDOVER
ANDOVER, MINNESOTA
COMBIN ING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 1978
Prairie Building
Road Bridges and
Improvement Improvement Equipment Total
REVENUES:
Intergovernmental
Revenues
State Aid $114,968.39 $238,474.98 $ $353,443.37
Other Revenues
Miscelaneous 90.00 90.00
Total Revenues 114,968.39 238,474.98 90.00 353,533.37
OTHER SOURCES:
Proceeds of Bonds
Issued 430,000.00 430,000.00
Total Revenues and
Other Sources 114,968.39 238,474.98 430,090.00 783,533.37
0 EXPENDITURES:
Construction:
Contractor 76,361.02 220,680.65 297,041.67
Engineer 6,975.49 13,468.11 20,443.60
Arch itect 2,594.50 2,594.50
Legal 494.50 494.50
Municipal Rating 400.00 400.00
Bond Consultant 4,670.45 4,670.45
Easement 4,200.00 4,200.00
Miscellaneous 1,000.00 126 . 22 1,126.22
Total
Expenditures 84,336.51 238,474.98 8,159.45 330,970.94
NET INCREASE IN
FUND BALANCE 30,631.88 421,930.55 452,562.43
FUND BALANCE,
January 1 (30,631.88) (30,631.88)
FUND BALANCE,
December 31 $ $ $421,930.55 $421,930.55
.
The accompanying notes are an integral part of the financial statements.
19
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CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF GENERAL FIXED ASSETS
DECEMBER 31, 1978
GENERAL FIXED ASSETS:
Land and Improvements
Building and Improvements
Furniture and Equipment
Machinery and Automotive Equipment
Other Improvements
TOTAL GENERAL FIXED ASSETS
INVESTMENT IN GENERAL FIXED ASSETS
.
$ 65,680.47
117 , 340 . 98
19,402.08
76,721.40
4,138,451.98
$4.417.596.91
$4.417.596.91
23
The accompanying notes are an integral part of the financial statements.
8
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
STATEMENT OF GENERAL LONG-TERM DEBT
YEAR ENDED DECEMBER 31, 1978
AMOUNT TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG-TERM DEBT
BOND PRINCIPAL
City Serial Bonds
Amount to be Provided - Note 6
$430.000.00
GENERAL LONG-TERM DEBT PAYABLE
GENERAL LONG-TERM DEBT
City Serial Bonds - Note 4
$430,000.00
o
.
The accompanying notes are an integral part of the financial statements.
24
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting Policies of the City of Andover conform to generally
accepted accounting principles applicable to governmental units. The
following is a summary of the significant policies.
Bases of Accounting
The modified accrual basis, in which expenditures, other than
accrued interest on general long-term debt, are recorded at the time
liabilities are incurred and revenues are recorded when received in
cash, except for material or available revenues which are accrued to
properly reflect earned value, is utilized by the City in recording the
transactions of its funds.
In the past the city has reported the results of operations on the
basis of cash receipts and disbursements.
Recognition of Property Tax Revenue
o
Taxes and special assessment principal and interest are recorded as
revenue when levied.
Investments
Investments in
market value.
received,
all funds are recorded at cost which approximates
I nvestment income is recorded when earned and
Inventories of Materials and Supplies
Purchases of materials and supplies are recorded as expenditures at
the time purchased.
General Fixed Assets
General fixed assets purchases are recorded as expenditures in the
various funds at the time of purchase. Such assets are capitalized at
cost in the general fixed asset group of accounts.
The City does not maintain detailed records of its general fixed
assets. The values of the general fixed assets presented in this
report are stated at the balances presented in December 31, 1976
financial report plus subsequent assets additions at cost.
Amount Available in Debt Service Funds
.
The fund balances of the debt service funds are dedicated for the
retirement of long-term bonded indebtedness of the City and are
recorded as an asset in the general long-term debt group of
accounts.
25
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Amount to be Provided
This represents the bond principal amounts to be provided in future
years for the retirement of the City's long-term bonded indebtedness.
Amounts to be provided in future years will come from the future
revenue sources as explained the Note 6.
Bonds Payable
All long-term debt is recorded in the General Long-Term Debt Group
of Accounts except that which is recorded as a liability in the special
assessment funds. All bonds are backed by the full faith and credit
of the City. Bonds recorded in the special assessment funds are to
be paid primarily from special assessments levied and collected for
local improvements.
.
NOTE 2 - DESCRIPTION OF FUNDS
The accompanying financial statements include the funds administered by
the City Council of the City of Andover.
Due to the diverse nature of governmental operations, the necessity of
complying with various legal provisions and compliance with reporting
requirements the accounts of the City are organized on the basis of funds
or groups of accounts; each of which is considered to be a separate ac-
counting entity. The operations of each fund are accounted for by pro-
viding a separate set of self-balancing accounts which comprise each
Fund's assets, liabilities, fund balance, revenues and expenditures. The
following is a description of the funds included in the accompanying
financial statements:
General Fund
The General Fund accounts for all revenues and expenditures of the
City which are not accounted for in the other funds. Revenues are
primari Iy derived from general property taxes, license permits and
fees and revenues from the State. Expenditures are for general
government services including police and fire protection, parks and
recreation and general administration.
Special Revenue Funds
.
Special Revenue Funds are used to account for the proceeds of
revenues derived from specific taxes or other earmarked revenue
sources. They may also be used to finance specified activities as
required by law or administrative regulation.
26
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
NOTE 2 - DESCRI PTION OF FUNDS (Continued)
Capital Projects Funds
Capital Projects Funds are used to account for all resources used for
the acquisition of major capital facilities or equipment by the City,
except those financed through special assessment or enterprise funds.
Special Assessment Funds
Special Assessment Funds are used to finance and account for the
construction or purchase of improvements which are to be paid
partially or entirely from special assessments levied against the
benefiting properties.
General Fixed Assets Group of Accounts
The general fixed assets group of accounts includes City fixed assets
which are not accounted for in the enterprise funds.
.
General Long-Term Debt Group of Accounts
The general long-term debt group of accounts includes all general
obligation debt of the City.
NOTE 3 - PENSIONS
Employees of the City are covered by the Public Employees Retirement
Association (PERA). Since PERA is managed by the State of Minnesota the
City has no responsibility for its administration and also, any unfunded
past service costs, if any, are not determinable.
PERA participants are enrolled in one of two plans, either the Basic or
Coordinated. The Basic Plan requires an employee contribution of 8% of
annual salary and an employer contribution of 10-1/2%. The Coordinated
Plan, in conjunction with Social Security, requires an employee contri-
bution of 4% of annual salary and an employer contribution of 5-1/2%.
In 1978 the City's contribution for PERA was $4,274 and for Social
Security was $5,911.
.
27
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
NOTE 4 - BONDS PAYABLE
As of December 31, 1978 the bonds payable of the City consisted of the
following:
Total
Due in 1979 Due After 1979
General Obligation Bonds
Special Assessment Bonds
$ 430,000
3,917,200
$
$ 430,000
3,834,800
$4,264.800
Total
$4.347.200
82,400
$ 82.400
NOTE 5 - FUNDS ESTABLISHED DURING THE YEAR
Improvement No. 78-1
.
The City sold the $270,000 General Obligation Improvement Bonds of
1978 to finance the construction of street and storm sewer improve-
ments. The bonds are general obligations of the City for which its
full faith and credit and unlimited taxing power are pledged, in
addition to special assessments in the approximate amount of $258,000
filed against benefiting properties and other future revenue sources
as outlined in Note 6.
Bridges Improvement
The Bridges Improvement Fund was established to account for all
transactions resulting from the improvements to the Prairie Road and
Coon Creek Bridges. The projects are reimbursable by the Municipal
State Aid Street Program and Municipal Bridge Bonding Program.
Building and Equipment
The city sold the $430,000 General Obligation Improvement Bonds of
1978 to finance the construction of a Public Works Building and the
purchase of fire fighting equipment. The following contracts have
been executed but as of December 31, 1978 no work has been started:
Total
$249,761.00
140,380.21
$390.141.21
Public Works Building
Firefighting Equipment
.
28
o
CITY OF ANDOVER
ANDOVER, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1978
NOTE 6 - FUTURE REVENUE SOURCES
In order to provide for the retirement of principal and payment of interest
of Bonds the City has provided for future revenues. The balance sheet
reflects only the deferred special assessments. Revenues to be collected
for future payments are as follows:
Improvement No. 75-1:
1. Deferred Special Assesments.
2. Connection charges for future connections in the areas serviced
by this improvement which at the present time are undeveloped.
The charge will be $1,050 per connection.
3. Future ad valorem tax levies of $509,689.
Improvement No. 75-2 and Improvement No. 75-4:
1. Deferred Special Assessments.
2. Future ad valorem taxes levies of $2,000.
Improvement No. 76:
3.
4.
Deferred Special Assessments
Connection charges for future connections in the areas serviced
by this improvement which at the present time are undeveloped.
The charge wi II be $1,050 per connection.
Sale of aerial maps.
Reimbursements from future projects for savings on engineering
fees from the use of the aerial maps and comprehensive storm
drainage plan developed in connection with and paid for by this
imp rovement.
Future ad valorem tax levies of $259,579.
.
1.
2.
5.
Improvement No. 77:
1. Deferred Special Assessments.
2. Charges for future developments use of ponds constructed in
this improvement.
3. Future ad valorem tax levies.
Improvement No. 78-1:
1 . Deferred Specia I Assessments.
2. Future ad valorem tax levies.
General Long-Term Debt:
1. Future ad valorem tax levies of $580,772.
.
29
Q
OLSEN, THIELEN 8: CO.
223 LIITLE CANADA ROAD AT HIGHWAY 35-E
ST. PAUL, MINNESOTA 1515117
TELEPHONE (612) 483-4521
Honorable Mayor and City Council
City of Andover
Andover, Minnesota
Our examination was made primarily for the purpose of formulating an
opinion on the basic financial statements taken as a whole. The following
supplemental information is not considered necessary for a fair presentation
of the financial statements, but is presented as additional analytical data.
This information pertaining to the year ended December 31, 1978, except
for that information which is statistical in nature, has been subjected to
the audit procedures applied in the examination of the basic financial
statements and is, in our opinion, fairly stated in all material respects in
relation to the basic financial statements, taken as a whole.
.
~~,e:
January 17, 1979
.
Q CITY OF ANDOVER
ANDOVER, MINNESOTA
COMBINED SCHEDULE OF INVESTMENTS
DECEMBER 31, 1978
Identification Interest Maturity Book
Bank Number Rate Date Value
CERTIFICATES OF DEPOSIT:
Fi rst National Bank
in Anoka 351 6.25% 2/03/80 $ 90,000.00
. First National Bank
in Anoka 352 7.00 8/03/81 180,000.00
Fi rst National Bank
in Anoka 354 7.25 8/03/83 130,000.00
Fi rst National Bank
in Anoka 476 8.20 8/07/79 180,000.00
First National Bank
in Anoka 556 8.65 5/01/79 200,000.00
Fi rst National Bank
in Anoka 566 8.65 4/24/79 80,000.00
Fi rst National Bank
in Anoka 643 9.33 5/31/79 285,000.00
0 Total Investments $1 ,145 .000.00
.
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