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1956 liquor report ~~GE aF ~S.CTU P~~ ~.iNI'tESf~T.A ~~' AND ©FF sALE LIQ,II®R` FUND FI~A~fi~ ILL ~TAT:~ENTS SIX ~d~t"~HS ENDED ~'UI 30, 1956 l17 V a. C-C~L~ 1.GYlJ ,~< I ROBERT A. KRATT CERTIFIEp PUBLIC ACCOUNTANT MINNEAPOLIS +~8pte~9.bex' ~.~, 195b ~'he ~one~rable ~ayc~r and Village ~Caunai3. Village of Ielan.d Park, ~inneec~ta aentlemens T'reeented here~rith are the fe~].lawing described fin.enc~ial ~ttat®~teb.tra cif the 4n and Off Sale Liquor Fund Of the 'pillage ~~` eland Parr, P~inne~ota fcx~ the six menthe ended ~'une 3D, 195b: EI13IT ~: - BALA.~'C~' S~igF'~ AS AT .'fU3d'E ~t~, 19~ib E~7GT131`I' B -AN'ALY'SIS ~F 3URs Lt~~, ~S~ ~pN~i'H.S E..NT~ET~ ~~ ~Q, 1956 E~ILIT C - C~Jn~AI~TTED STA'~~~.EN~' t~F' fli'FtATI4NS, SIX ~iC7NTHS ENU JUNE 3Q, 196 No audit e-r verification has been made ae Qf June ?~Q, 196 eac+~ept ~roertain prei.iminarp wcark in cQnnecatican with a I3et~ember 31, 196 audit. ~'he accawate caf the 4ri and Off >~ale Liquor F~xnd and the Municipal. ~3uilding Fund are intermingled and are ~heref are treat+~d in that ~.anner in the a~tateamente ~re~ented herein. In e,ccmrdanae Frith previous prectice, diea4unte Qn puraha~es aggregating X3,845.93 for the ei~c-xnanth period have been alleace.ted to the ~sff-sale mperations. ,~,, C ~ i'. A. -~; r _ _ _ ,_ V'iLLAC#E nF ZSLAI a~ ~ aFF s~.z B~L.~c~ sx~T ~s E~c~T A3 .~.s Current A~eete ~Lan~ and in B~,nke t Caa~h on Hand pemand I~epo~it, State Bank of Abound S~avin~~ Aaaou~nt, A~i,nne~ota Federal. ~av~a and Loan A~soaiation (Equ3pm~e-nt pepreei~tis~n Fund SavinSe .~®~ount, ~'ir~t Federal Bavin~a and Loan As~ooiation (A~txnicpal Buildin.~ Fund R®~cer4Q Ac~aount ) Merohandi~e lnver~torlr, on the ba~i~ of phgait~al in~entor~- a~ at ~eaembeor 5l X955 ad~ugted by puraha~e and gales tran.~ac~~~.on~ to ~'une 30, 1956 4groaa profit rnethod3t fan Sale tiff dale ~uppl~ lnventor~ Total Current Assets A~unit~~.x~al BuilQ.in~z Fund. Capital Ea~penditures x,6.$6 55,4 •61 6,199•x.5 2,©~1.8'~ Via., "sta.9.c~~, 26, 55a~ 91 15.0 99, ~.©~ • 88 d and u d ngs ~6,4Qm.C30 IInmprov®d lots 1, ~4.~C Pa~ent~s relating to gro,~eat abandoned 3,888.v ~'i~ctures, off-gale liquor ~,4x.3.b ©ther exgendit~ures ~4t7.21~. -,331.86 _._._._ Furr~tture and Fiaturea I~ur~i3.ture~ and ~P3xtures, an salsr ~lx., 549.21 Lena allowar~ae for degreaiation ......a~,~,„6a Furniture and fiXtures, off ~ala~ ~, 912.97 Lees allo~ranoe f©r de-greciati©n 1.L3c~2.~.1. ltblt~.56 8e~?.~~? Total ~>1b2. ~.~.91 ~w~r~w ~ ~',A.RK, 1t~IN~i'E~ QT.A ~~ LZ ~,Uflld F~~ ~-I~'E~ ) LIABILITIES Current Ls~b~.lltes Aaaounts ~'a~r~b3e, trade- ~nplag+ae~s + alar~ ~eduatian~ ~ Federal Income Tastes ~ithh~3d 289•$4 ~'ub13.c]~mmplc~yese Retire~mant tNithholding 62.47 Res®rve fare Publics ~nplogeest Retirement Taa ~[unicipal Building Fund ~ Ree®rv® far Sntere~t and Principal Sinking Fund Total Current Liabilities ~Iuniai 3 Bu9.3din Regenue Bonds Fated 5' ~ lnter®st at p3u e ~; ~,.~ 55; a4 ~y~y ~ ry .A. 1 dm 33 ~'.L ~ / 1 1+i ~ ~ 3'r" r1..' ~ 9 ~ ~ ~~Q~.k+. ~ta~r 3st of e-ac~h year as PQl.3o~rss 2,~t34.4D 39 6 ~'ough 39 9s B a ~ ,~Q®. C+ 39 o through 193, and '=].C~,Q4fl.t~4 396, through 3969; bands maturing after ~-1~6tJ rede~m.able~ then or on interest dates thereafter at ~.~ prc~miu~,t Am©z.axa,t authorized and issued ;3aa,aQO.Q~ Amount redeemed on A~ag ~., 3956 2~~p4.Od Reserves ~""~"u~~'~'pa3 Bu~.3d~.ng Furac~, Reserve .~~ccaunt 5,,~.3b.76 Far I)epre,oiation an ffiuniaipa3 Building Fund, Capital expenditures 7'52.5© Surp3us, r~thibit B EXHIBIT A 9s839•g7 351.87 2, D~C1.66 ,3~,b~9.37 35,881.5? 98,ov©.oa 6,1.9.26 ~, 319• ©8 a6~. ~~.~.,~?, 4,£ ~r ~~~ ,.. n _ _ .. _.... ___... _~ ._._.... .._~........ ._,....__ .....-~.. ,.gin--_,,.... - -~ ..,~ V'I~LA~F C3F T~T,A~ P,AR~ ~dTNN~S~~A r r rrirr~~ r rr r..~..r I rrrr (~N .+~ 4F~' ~~ L~~QOR F A1~~3~~ CAF S~3R~''Li 3IX _D~tT~, ~ ~E 34, 195$ tP3E3T A[l~2`L'~D) Balan~aa, Januarg 1, 196 ~d8: Pay~ent~ fear arehitact~ ~ 1'+~®a and ©thar e3cpan$~a~ relating to building pra ect abandan~+d w transferred to un3.a3.pa1 Buildixag Fund, Gap3.tal Lxpenditureas on ambit A T3eduet s ~+a!$ ~C38si Vii][ ~lEant~ 919,E~E!$ +~'ut31b 3~s 1~~j6s FrZhib i $ S ~ranePers to C~erieral Fund Ba~.anee, Juxae ~ s 1956, to ~a~hibit A ZBIT B X39,3©8.5~ ~.$8~.42 ~-3.196.60 ~6.1~ $21.,:x, $?'T. ~~~~ ~~~ VILLAGE C3F ~~LA.ND PARK ~INT+T~St~A LXkiIBIT C F Ct~A~BTNEp STATF."~'~ ~` 4PERATIO~fS SAX ~tt31~TH,5 EDTAED J~3NE ~ 1 ~6 f NoT A'~3IT~ ) 3a1se Cget qr sa3e~at In~ntgryr January 3 ~ 19 56 Purcahaee s Tranefexe tq on Sale ~nventgry, Jane 34, 1956 ~iq~t of 8818 Grgea prgYit qn sa1,..ee Selling, administrative and gen+dral eapen~em ~ tNage e Bar Supplies other Supplies ~Ze c trig ~.ty Teleghgne Inauranne Interest qn Warranty Laundry guar. Repairs and 1~aintenanQe Liaenffiee~ off ise Supplies Advertising ~i~tt~ellamequs Pr+avision for Publia Erap3oyees Retirement Pravisign for 0epreaiatign ~xgta3 Facpenses ~'et gperating ~arof it Adds other lnogmet Interest Inaq~ne Tgta1, Carried fgrward one of C~gmb~~.n d a9, 088 • ~. 5 ~? ~ 830.59 X71, 918.74 1, 5#x..0.53 2,3$0.48 .. i ~,~ ~,~2.66 17s193.25 ~,4t?l. ~ }~,~ ~©,590.47 51,120.7 t33.2't2. b~) 5~s~1- 8.56 p . {# '33, 889 • ~?. x,130.98 53,500 • $3 ~-{ ~, 631.81 f (2 : 5 (~ ~~C y ? .. (9 J ~ ~1 13.896.77 8, ~.'~.13 392.28 18.67 363.7a 51.25 538.17 27.50 221.22 276.57 1b3.2o 3Q.7© 9.15 123,.07 18Q.64 ~6 x1,923.02 8, 9~,t.~. • 07 22, 837.84 3,366.1b .. 233 • 59.59 358•?8 27~ 50 138.255 194.68 29.$0 22.6 321.0 185.56 13,783.2? 392.28 397.20 110.84 896.95 55.00 221.22 41~.. 82 357.88 ~.. o 3 4.~a 67.33 ....~ . o _,r~,13 ~. 68 3.9'75.'75 3.$5.39 235.67 ~. ~, ~' . o _„l~, a 6~, . Zo 5, 8x1.34 676.92 6,478.06 i V~LI~A(~E _oF I~LA~ PARS. BfIN'N'ES©TA QPt AND pFI~ SALE LZ 0R ~O1~BTA ~TATENT QF' CIPERATION sz~ ~orr=rxs ~rm~ E ~o t i~ ~6 CN'UT AU4ZTE~ ) ~'otal, brought Porarard 0e+ due t s Net Lome Prom rental of gars~ge and. 1"illing atations Fuel Repairs Insurane® Depreciation of Buil.d.ing Less Rent Ret~eieed het inctome before rnurzimipal building Pond deductions DeduQtions applicable to municipal building i'unds Interest Expense on municipal building r+~venue bonds Pro4i~ion Por sinking fund principal payments 4bal~~e needed to arctsrue on.e year r ~ ~2, 004.40 ps-yment ~ Provision for Reserve Aocouaxt EXFiI~~T C ~i~}tt3.46 ~?9.16 .~« 54 152. ~$ 3TQ•4D 9~.2.4~. ll~.4.. Qp ~D 2.4~ 2,982.15 5s~?ta.t32 b66.6~. 2, cJ83.3 5 _, 5. 32..~.~r, ~~., Idet lm~ss, siz mflnths ended ,June ~Qa 195~s to E~chibit B ~..~.~)