1967 Liquor Dispensary
BROEKER HENDRICKSON g CO.
Certified '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 FUND, VILLAGE OF NEW HOPE LIQUOR STORE FUND and
the CENTER LIQUOR STORE FUND as of December 31, 1967~ 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 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 3l~ 1967~ 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.
Minneapo1is~ Minnesota ~;f~ ~~
June l3~ 1968 .
COM
CURRENT ASSETS:
Cash on hand
Cash in bank
Accounts receivable
Due from other funds
Inventory, at cost
Prepaid expenses
Total current assets
FIXED ASSETS, at cost:
Land
Building
Furniture and fixtures
Leasehold improvements
Less- Accumulated depreciation
CURRENT LIABILITIES:
Accounts payable
Due to other funds
Accrued Public Employees Retirement
Association contributions
Total current liabilities
RETAINED EARNINGS--per accompanying ~
statement
~
-'7
COMBINE
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
Supplies
Laundry
Licenses and taxes
Cash short
Total selling expenses
Overhead-
Utilities
Rent
I1Iainten",ncE repairs
Clean~ng
Otner contractual services
Supplies
Insurance
Depreciation
Total overhead expenses
COMBINED STAT}
J
OPERATING EXPENSES (CONTINUED):
Administrative and general-
Salaries
Public Employees Retirement
Association contribution
Legal and accounting
Office supplies
Other
Total administrative and
general expenses
Total. operating expenses
Operating income
INTEREST INCOlViE
Net income for the year
BALANCE~ DECEMBER 31, 1966 (DEFICIT)
ADD- Net income for the year, per state
ment of income
DEDUCT- Contribution to General Fund
BALANCE, DECEMBER 31, 1967