1966 Liquor Dispensary
August 7, 1967
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, 1966, and the related state-
ments 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 balance sheet and statements
of income and retained earnings 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, 1966,
and the results of their operations for the year then ended, in conformi-
ty with generally accepted accounting principles applied on a basis
consistent with that of the preceding year.
The examination was conducted jointly by the firm of Broeker
Hendrickson & Co., Certified Public Accountants, and Department of Public
EXaminer, State of Minnesota, in accordance with the request of the
Village Council.
~/~ ~C.
BROEKER HENDRICKSON & CO.
~l~~
Robert A. Whitaker
Public Ex:aminer
Date released:
December 7, 1967
(
.
CURRENT ASSETS:
Cash on hand
Ca sh in bank
Accounts receivable
Due from other funds
Inventory, at cost
Prepaid expenses
Total current assets
INVESTMEl-l'TS
FIXED ASSETS, at cost:
Land
Building
Furniture and fixtures
Leasehold improvements
Less- Accumulated depreciation
~
")
CURRENT LIABILITIES: h>C:P
Accounts payable ?~
Due to other funds ") .
Accrued Public Employees Retirement (p <\<\
Association contributions ~~
"')0 ~
Total current liabilities 0'1 OJ
L -.:x"')Y. ~o
RETAINED EARNnraS (DEFICI T) --per ~v
accompanying statement $107':""0 cf' <'\
$ ,~
111,c..
COM]
-
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
Maintenance and repairs
Cleaning
Other contractual services
Supplies
Insurance
Tax e s
Deprecia tion
Total overhead expenses
COMBINED
OPERATING EXPENSES (CONTINUED):
Administrative and general-
Salaries
Public Employees Retirement
Association contribution
Legal and accounting
Office supplies
Inventory loss
Other
Total administrative and
general expenses
Total operating expenses
Opera ting income
INTEREST EXPENSE (Net)
Net income (loss) for the
BALANCE, DECEMBER 31, 1965
ADD:
Net income for the year, per state
of income
Decrease in reserve for restricted
DEDUCT:
Net loss for the year ended
December 31, 1966
Contribution to . General Fund
BALANCE, DECEMBER 31, 1966 (DEFICIT)