2002 Comprehensive Annual Finanical Report (CAFR)

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CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2002 NOTE 3 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY (Continued) B. Excess of expenditures over appropriations For the year ended December 31, 2002, expenditures and other financing uses exceeded- appropriations in the recreation fund by $ 123,255, the community development fund by $ 25,046, and the license center fund by $ 39,525. These over expenditures were funded by greater than anticipated revenues, available fund balances and future revenues. C. Deficit fund equity The recreation, general obligation improvement bonds, general obligation tax increment bonds, and lawful gambling funds had deficit balances of $ 1,139,465, $ 1,365,979, $ 2,129,895, and $ 104,154, respectively. These fund deficits are expected to be covered from future fund revenues or transfers from other funds NOTE 4 - DETAILED NOTES ON ALL FUNDS A. Deposits and investments At year end, the City's carrying amount of deposits was $ 599,961 composed of bank balances of $ 152525520. All balances were covered by federal depository insurance or by perfected collateral held by the City's agent in the City's name. Investments are categorized into these three categories of credit risk: 1. Insured or registered, or securities held by the City or its agent in the City's name. 2. Uninsured and unregistered, with securities held by the counter party's trust department or agent in the City's name. I Uninsured and unregistered, with securities held by the counter party, or by its trust department or agent, but not in the City's name. At year -end, the City's investment balances were as follows: Reported Category Categgry Amount 1 2 3 Fair Value U.S. Government securities $ 31,386,563 $ 0 $ o $ 31,386,563 Collateralized negotiable certificates of deposit 8,616,9$7 0 0 89616,957 Total Investments $ 40,003,550 $ 0 $ 0 $ 40,0033550 Deposits 5999961 Total Cash and Investments $ 409603,511 55