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0 A EN HILLS <br /> CITY OF ARDEN HILLS <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> FINANCIAL POLICIES- <br /> FUND BALANCE <br /> Fund Balance and Net Asset Guidelines (Fiscal Year-End) <br /> Reserved Fund Balance and Restricted Net Assets—Portion of fund balance that is not <br /> appropriable for expenditure or is legally segregated(restricted net assets) for specific future <br /> uses. <br /> The City has several items that are legally restricted to a certain use such as: police forfeiture <br /> funds, federal and state economic development revolving loans,park dedication fees, and bond <br /> proceeds. The City has several amounts unavailable for appropriation such as: advances and <br /> deposits, inventories, etc. These types of items will be reported as reserved fund balance and/or <br /> ID <br /> restricted net assets as required. <br /> Designated Fund Balance—Designations represent management's intended use of resources. <br /> Designation for cash flows—This designation will be established for the General Fund which is <br /> funded largely from local government aid,property taxes, and market value credit. <br /> Designation for special revenue funds—All amounts in the TCAAP Fund, Cable Fund, Risk <br /> Management Fund, Park Fund, and Community Services Fund are used for special or specific <br /> purposes and will be designated for such. <br /> Designation for capital projects—All amounts in the Equipment, Building &Replacement Fund, <br /> Public Safety Capital Fund, and the Capital Improvement Fund(PIR) are used to fund the capital <br /> improvement program. The fund balances in these funds will all be designated for capital. <br /> Designation for economic development—The City has grants and property tax monies (TIF) <br /> dedicated for economic development. These funds will be designated for economic <br /> development. <br /> Designation for revenue stabilization—Revenues can fluctuate greatly from year to year, <br /> especially interest earnings, and, in previous years, local government aid. This designation will <br /> be used if determined to be needed by the City Administrator and Finance Director. <br /> 1110 <br /> \\Metro-inet\ArdenHills\Finance\Policies and Prdcedures\Policies\Fund Balance Policy.doc <br /> Last printed 1/4/2008 3:03 PM <br />