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1972 Audit/Financial Liquor
1 1 1 1 1 1 1 1 1 Wright County, Ma nrtF~s~rta MUNIC:IPAi. {., f:(I(!OR S`i'OI~r'. '1'ABLr; OF' (:ON'1'L',Nr['S Opinio"t~ A Statement c.>f AsSeis, I...iabil.it.:ic~.:; ar~c:l ~>r~rPl.us B C.omp~,rat.i.ve ('~[:reratn~; ~}_aGemc~.nt:. Eax- 'I't~ree Months Fr~decl M~arcl~ .; 1., i9~? and i9; i. PagE 1 2 3 To the Vi1.lage Council. ' Village of Monticello Wright County, Minnesota In accordance with your request, we have cxami.ned tine statement of assets, liabi.li.ta.es and surplus; of the Monticello Municipal Liquor Store as of Marc.l~ 1, 1.972 and the related operating statement f.or the three months then ended. Our ' examination was made in accordance tiri.tl~ generally accepted auditing standards and accordingly included such tests of the accounting records and such other audi_t:ing procedures ' as we considered necessary in the circumstances. The village has bEen named defendant in two lawsuits, one involving the death of an individual., At this tame, there ' is no :indication as to any i.iabilities whi.c.h may exist. In our opinion, subje.c:.t to the above cotrunent, the ' accompanying statement of assets, liabaliti.es and surplus a.nd ncial fin h l . a y t e the related operating statca~ent present. fair position of the Monticello Municipal. Liquor Stare. at March 31, 1972, and the results of its operati_on;; f-ox~ (-hc~ three months ' then ended, in conformity with geuE~rally ac.ce.pted accounting principles app.l.ied on a ba;i.s consistt:.r~t: wi.tl7. that. of the. preceding year. ' ("R14}' ~ (i!-IIVSON, MOS1~Ok.D A'Ni) AStiOCI.A`PF,S or~rrt:a.at: s ic: Ac~c d 1?ubl i~ ~ . . , ~ ;er.t ' April 13, 1972 1 ~ ,. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 48,690.58 6 842.63 S _187.,085.61_. $ 440.00 1.,303.00 2,289.69 1. 025.28 $ 175,333.42 6,694,22 5,057.97 ~~ 182027.64 18 0 5 61 Exhibit A VIT,,LAGE OF MONTICF.LLO Wri ht Gaunt Minnesota MUNICIPAL LIQUOR STOI~F. STATEMENT OF ASSETS, LIABILITIES AND SURPLUS March 31, 1972 ASSETS Current Assets r Petty cash Change fund Cash in bank. Investments Merchandise inventory Total Current Assets Fixed Assets Parking lot Building and improvement Furniture, fixtures and equipment Total Fixed Assets ether Assets $ 154.96 2,000,06 6,038.21. 79,794.1.3 43 565.04 $ 1.31.,5.52.40 Cost. Reserve Net $ 3,800.00 ~ $ 49,824.73 $ 1.3,043.42 31 900,58 23,791.31 ~_ 85 5 5..31 ~ 36 ~834~_73 Prepaid insurance Deferred maintenance contracts-cash registers Due from distributors Total Other Assets TOTAL ASSETS T,IABILTTIES AND SURPLUS Cux'rent Liabilities Contract payable-liquor store. coi7strl~c.tion Accounts payable Accrued payroll taxes Accrued sales 'tax Total. Current Liabiliti.e.s Su~ rplus Balance .7anuary 1, 1972 Net income for three months ended March 31, 1972 Total Surplus TOTAL LIABTLITI.ES AND SURPLUS ~- 2 - 3,$00.00 36,781.31 8,109.27 6,641.10 164.70 36.83 u'1 Q N ~1 i7l N~-.~ e.~l .7 O M 4~ o~ v1 [T cl O N 4 t r-.. r--I r--I N rl v7 ~ ••-I ~D cr1 N C1 ~ ~ F+ a1 a w U cd a O G4 11 1.~ .~ .~ k (~ r-I n rn ~-I "C7 ro ,7_, N ~ 1~ ro ~ ~ J-~ rs] [s] r-i d 4 f~ E•+ r..d fn O ~ -• .-7 a E-f ~ ~w W ~ Ci] [I] c~'1 U ~ I ••I • pG C7 ,~ E•a ~ O `~ U ~ ~ ~ ~ ~l ~ ~ O ~ ~ F1+ O ~ O 'cJ Cz7 U R+ F: C7 M•I rxJ W ~ .a. o ~: ~ ,~' w F~i V1 w .mil ~ ~ :, ~ ~ ~ ~ O ~• o a v v ~+ }a 4 V) O I-I c.7 ~I-~ a O C] ap 7 r•1 6n n~~ln N rj' OC) ~--1 ~ ~ ~i7 .-~ (~ r- N c0 in N 00 ~ ~ Y--I [-..~. r.. rf'1 Gq c" l CJ N ~? (~ •D CY 1 c`J N C7`~ •~ ~~~ r-i ~p N ~-+ c~ s!} ~</} o~ .--I O I O Ic`i u'1 n op r-I Ch .7 U~ N t~ ~ lfl ~o .7 O r-~I ~ ~ •~ ~l N wwl ~ r~ rn ~ O t!1 r-I .7 rl N N N N i~ a, U !•+ v m 0 I~ C7 i W O J.1 O U p cr1 rr t. 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Months E?r~G9.ec! .?~An~+ 30, 1971 ar;.ei 1.971. 1 2 3 4 1 0 1 fl MEMBER AMl~ICwN INSTITUTE Of CERTIFllO -UlLIC ACCOIINTgMS GRV'Y8, JQWNSON, MOSFORC7 ANb AS8OCrar~s CERYI FIFE] PUE3 LIC ACCC?U NTANTS TELEPHONE BURKLAND E3LDG.. 6UF'FALO. MINN. 55313 ss2-1762 To the Village Council Village of Monticello Wright County, Minnesota In accordance with your request, we have examined the statement of assets, liabilities and surplus of the Monticello Municipal Liquor Store as of June 30, 1972, and the related operating statement for the si.x months 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. The village has been named as defendant in a lawsuit involving the death of an individual. At this time, there is no indication as to any liabilities which may exist, In our opinion, subject to the above comment, the accompanying statement of assets, liabilities and surplus and the related operating statement present fairly the financial position of the Monticello Municipal Liquor Store at June 30, 1972, and the results of its operations .for the six months then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that. of the preceding year. GRUXS, NSUN, MOS1'0 AND ASSOCIATES Certified Public Accountants July lk, 1972 -~ 1. VILLAGE OF MONTICELLO Wri ht Count Minnesota MUNICIPAL LIQUOR STORE BALANCE SHEET June 30, 1972 Current Assets Petty cash Change fund Cash in bank -checking Investments Merchandise inventory Total Current Assets Exhibit A $ 200.14 2,009.09 3,074.85 80,791.56 43,374.55 $ X29,450.19 Accumulated Fixed Assets Cost De reciation Net Parking -lot $ 3,800.00 $ 3,800.00 Building and improvements 49,824.73 $ 13,371,42 36,453.31 Furniture, fixtures and equipment 31,900.58 ___24.1.50.31 7,750.27 Total Fixed Assets $_ 85,525.31 $ X7,521.73 Other Assets Prepaid insurance Deferred maintenance contracts -cash registers Total ether Assets TOTAL ASSETS LIABILITIES AND SURPLUS Current Liabilities Accounts payable Accrued payroll taxes Accrued sales tax Total Current Liabilities Surplus Balance January 1, 1972 Net income for six months ended June 30, 1972 Less: Transfers out Total Surplus TOTAL LIABILITIES AND SURPLUS ASSETS $ 5,448.62 109.80 48,003.58 5,558.42 ,$_..183.012.19 $ 1,068.00 2,524.44 _ 1_,..282.21 $ 4,874.65 $ 175,333.42 17,_804.12 $ 193,137.54 15,000.00 178,137.54 ~~~1 3' Q12,_,19 -2- GYa .,-~ P •,-{ W ro O ~ ,_.7 u) U ~ H ~ [-~ •rl ~~ G4 J.1 Q (~" C7 J a ~ a .~ H cu r7 •rl ~.. 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A o m ~ ~ ro u 5, y, a, ~ .c .-a ~+ v ~ U •~ •• O •~ ~ +~ v cll ~ v F~ 'O i-i U O O O •rl c) v O p,, H O U va Ea +~ v ,~ H H w v p~ N ,••+ ~-•+ •••~ ro U F O -+ ~. va ro ep bn a a ~+ o ••-+ ~ ~ a, a Ci, a 'ti ~ ~ ~ ~ w s~ ro •~ +~ +.~ ro ~ v ro ~ v ~w m w~.a v 3acnv~aaoa~ a~-~+Qwr ~~~ ,~ ~' +~ J O O ~~ F-•1 N .--1 ~ ~ n ~ ~ ~ N w-I u~1 ~ ~ ~D O+ c•"t ~ ~ PD M HI H .-1 ~ ~ H N r-d N o ~ ~ N ~ e-1I .-I ~ ~ M O~ O~ I U ~ N v ~+ a o ~ rl] v ~ .~ a ~ v W U p .S., G o ~ •~ 411 1J w-I y m v ro o v q ++ 1~+ •ri O ran ~ u E U H r-I I 1 ro N v H N U] O v 4-~ O v a v z ro H Vi v w m ~ ~ v 0 A VILLAGE OF MONTICELLO Wri ht Count Minnesota MUNICIPAL LIQUOR STORE TABLE OF CONTENTS P~ Op i.n.ian 1 Exhibits A Balance Sheet 2 B Comparative Operating Statement for Nine Months Ended September 30, 1972 anal 1971 3 C Comparative Operating Statement far Three Months Ended September 30, 1972 and 1971 ~ MEMtlfR AMlRICAN INSTItyYF OF CFRIIFIFG -UlLIC ACCOUNIANFS GRUYS, .,,1QHNSON, MOSFOF2D AND ASSOCIATES CEF2YI FIEO PUF3 UIC ACCOUNTANY$ TELEpH4N6 BUFtKLAND BLDG., BUFFA6O. MINN. 55313 sae-t7s~ To the Village Council Village of Monticello Wright County, Minnesota J i~ In accordance with your request, we have examined the Balance Sheet of the Monticello Municipal Liquor Store as of September 30, 1972, and the related operating statement for the nine months then ended, Our examination. was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records anal such other auditing procedures as we considered necessary in the circumstances. Tn our opinion, the accompanying Balance >heet and the related operating statement present fairly the financial position of the Monticello Municipal Liquor Store at September 30, 1972, and the results of its nperata.ons far the nine months then ended, in conformity with generally accepted accounting principles applied an a basis consistent with that of the preceding year. GRUYS, J NSON, OSFOR ANU ASSOCIATES Certified Public Accoun.tan.ts September 17, 1912 -1- Current Assets Petty cash ' Change fund ~--~- Cash in bank -checking Investments ' Merchandise inventory Total. Current Assets I:x.h a. b ,i t. A $ 201. ~o 2,000.80 21,525.42 81,801.45 38,768.74 $ 144,291,91. Accumulated Fixed Assets Cost T)eprecia_tian_n Net Parking -lot $ 3,800.00 $ Building and improvements 49,824.73 $ 13,699,42 ' Furniture, fixtures and equipment 31,900.58 24,509.31 Total Fixed Assets ~85~52,5,~31 $ 38.208,73 ' Other ASSetS Prepaid insurance $ ' Due from distributors Deferred maintenance contracts Wcash registers ;~' ~'e„ ! '~ s ____ 'T'otal Other Assets I ` TOTAL ASSETS 1 LTABILITIES AND SURPLUS Current. Liabilities ~_~, 4~~ ' Accounts payable -' -~, ,~',, Accrued payx•a11- taxes ' "' Accrued sales tax ' 'Total Current. Liabilities Surplus ' Balance J'arauary 1, 1972 Net income for nine months ended. September 30, 197w? ' Less: Transfers out Total. Surplus TO''TAL 1.1.ABIT.TTTES AND S[JRPLUS VILLAGE OF MONTICELLO Wright County, Minnesota MUNTCTPAL LTQUDR STORE BALANCE SHEET September 30, 1972 ASSETS _2_ 3,800.00 36, 125..31. 7.391,27 3,831.00 10,00 54,90 47,316,58 ____ 3 i$9 5 , 9 0 ~_ L95.510,3.9 $ 2,740,82 2,67406 __._. ~,~ 2~ ~, ~>a 28 532 9~ 03,F~66.3a 1.5,000,00 6,644005 188,86h~34 ~~1,95.51.0.39 W •,~ p •.a .~ W n Cr` O M a) ~ rn G a v ~ U cd C!] F+ a) O Q+ .1.1 N a) V] N ~" ~ O 'O O U U H ~,' roc7H G W ~d O +~ i-i O a w v `~ G, ~+ 'J^ fz, W O G O w o U W ~ H bl ~ •!a cq a.! ~: O aD ~ U ~,' u) w-1 U C/] H W W F W ~ G[. 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