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<br />Management Discussion and Analysis - Continued <br />May 4, 2006 <br /> <br />The government-wide financial statements can be found on pages 4 - 6 of this report. <br />Fund Financial Statements <br /> <br />Afund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific <br />activities or objectives. The City, like other State and local governments, uses fund accounting to ensure and demonstrate <br />compliance with finance-related legal requirements. All of the funds of the City can be divided into two categories: <br />governmental funds and proprietary funds. <br /> <br />Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental <br />activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental <br />fund fmancial statements focus on near-term injZows and outflows of spendable resources, as well as on balances of spendable <br />resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term <br />financing requirements. <br /> <br />Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to <br />compare the information presented for governmental funds with similar information presented for governmental activities in the <br />government-wide fmancial statements. By doing so, readers may better understand the long-term impact by the government's <br />near-term fmancing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, <br />expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and <br />governmental activities. <br /> <br />The City maintains 30 individual governmental funds. Information is presented separately in the governmental fund balance <br />sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the General and Debt <br />Service funds, 11 of which are Debt Service funds. Data from the other 18 governmental funds are combined into a single, <br />aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of <br />combining statements or schedules elsewhere in this report. <br /> <br />The City adopts an annual appropriated budget for its General fund. A budgetary comparison statement has been provided for the <br />General fund to demonstrate compliance with this budget. <br /> <br />The basic governmental fund fmancial statements can be found on pages 7 - 11 of this report. <br /> <br />Proprietary fund. The City maintains one type of proprietary fund. Enterprise funds are used to report the same functions <br />presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for <br />its water and sewer. <br /> <br />The proprietary fund provides the same type of information as the government-wide fmancial statements, only in more detail. <br />The proprietary fund financial statements provide separate information for each of the enterprise funds. <br /> <br />The basic proprietary fund fmancial statements can be found on pages 12 - 19 of this report. <br /> <br />Notes to the Financial Statements <br /> <br />The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and <br />fund fmancial statements. The notes to the financial statements can be found on pages 20 - 36 of this report. <br /> <br />Other Information <br /> <br />The combining statements referred to earlier in connection with non-major governmental funds are presented following the notes <br />to financial statements. Combining and individual fund statements and schedules can be found on pages 37 - 54 of this report. <br /> <br />-N- <br />