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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2 0 0 4 <br />NOTE 7 - SUBSEQUENT EVENT <br />In early 2005, the City entered into binding arbitration with a developer to settle a dispute over amounts <br />owed on a contract. The contract was for improvements made by the developer to be reimbursed in part by <br />the City. The City expects a final decision on the arbitration to be made by mid 2005. Settlement amounts, <br />if any, will be paid out of the City's Economic Increments Fund, and will have minimal impact on the Fund's <br />overall financial position. <br />IT) <br />