2002 Comprehensive Annual Finanical Report (CAFR)

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Financial Analysis of the Government's funds Governmental funds. The focus of the City of Roseville's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of Roseville's financing requirements. In particular, unreserved fund balance may serve as useful measure of a government's net resources available for spending at the end of the fiscal year. At the end of the current fiscal year, the City of Roseville's governmental funds reported combined ending fund balances of $27,354,645. Approximately 46% of this total amount ($12,711,340) constitutes unreserved fund balance. The remainder of the fund balance is reserved to indicate that it is not available for new spending because it has already been committed; 1) for tax reduction ($2,212,715), 2) for future infrastructure replacement ($12,307,901), and 3) for law enforcement activities ($122,689). The General Fund increased by $253,539 in 2002, which was due to slightly lower expenditures than was expected. The Recreation Fund decreased by $271,450; resulting from both lower than expected revenues and higher operating costs. The Community Development fund decreased in 2002 by $307,132 primarily due to less than expected building permit fees. Both the General Improvement Debt Service and Tax Increment Bond Funds decreased substantially in 2002. This resulted from the calling of several bond issues. The City's Revolving Improvements Fund decreased by $638,194. Due to timing differences in project revenues and expenses, a substantial decrease (or increase) can occur. Proprietary funds. The City of Roseville's proprietary funds provide the same type of information found in the government -wide financial statements, but in more detail. The unrestricted net assets in the respective proprietary funds are Sewer -- $5,127,148, Water - $(487,878), Golf - $384,355, Recycling - $89,774 and Storm - $2,2555928. All propriety funds had slight decreases in net assets in 2002, with the exception of the Storm Drainage Fund. Due to timing differences in the user fees and capital improvements, decreases (or increases) can occur. Budgetary Highlights Special Revenue funds There was a small amendment between the original budget and the final budget for the Recreation fund in the amount of $47,000, and the Community Development fund in the amount of $140,000. The budget amendment for the Recreation fund was provided for with an internal loan, whereas the budget amendment for the Community Development fund was provided for with fund reserves. 20