1968 Liquor Dispensary
BROEKER HENDRICKSON g CO.
e ertified 'Public Accountants
NORTHWESTERN BANK BUILDING
MINNEAPOLIS, MINNESOTA 55402
To the Village Council
Village of New Hope
Hennepin County, Minnesota
We have examined the balance sheet of' the VILLAGE OF NEW
HOPE LIQUOR DISPENSARY FUl'ID, VILLAGE OF NEW HOPE LIQUOR STORE FUND and
the CENTER LIQUOR STORE FUND as of December 31, 1968, and the related
statements of income and retained earnings 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.
In our opinion, the accompanying financial statements present
fairly the financial position of the Village of New Hope Liquor Dispensary
Fund, Village of New Hope Liquor Store Fund and the Center Liquor Store
Fund at December 31, 1968, and the results of their operations for the
year then ended, in conformity with generally accepted accounting principles
applied on a basis consistent with that of the preceding year.
Minneapolis, Minnesota 4 /~ 'V-~
March 21, 1969
COli
CURRENT ASSETS:
Ca sh on hand
Cash in bank
Investments
Accounts receivable
Due from other funds
Inventory, at cost
Prepaid expenses
Tbtal current assets
FIXED ASSETS, at cost~
Land
Building
Furniture and fixtures
Leasehold improvements
Less- Accumulated depreciation
CURRENT LIABILITIES:
Accounts payable
Due to other funds
Due to other funds for accrued
Public Employees Retirement Associat
contributions
Tbtal current liabilities
RETAINED EARNINGS--per acco~panying statemel
COMB:
SALES:
On sale
Off sale
Total sales
COST OF SALES
Gross profit on sales
Per cent to sales
OPERATING EXPENSES:
Selling-
Salaries
Public Employees Retirement
Association contribution and FI
Supplies
Laundry
Licenses and taxes
Cash short
Total selling expenses
Overhead-
utilities
Rent
Maintenance and repairs
Cleaning
Other contractual services
Supplies
Insurance
Depreciation
Total overhead expense.s
COMBINED STl
OPERATING EXPENSES (CONTINUED):
Administrative and general-
Salaries
Public Employees Retirement
Association contribution
Legal and accounting
Office supplies
Other
Tbtal administrative and
general expenses
Tbtal operating expenses
Operating income
INTEREST INCOME
Net income for the year
BALANCE, DECEMBER 31, 1967
ADD- Net income for the year, per
statement of income
DEDUCT- Contribution to General Fund
BALANCE, DECEMBER 31, 1968