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2008 CAFR
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2008 CAFR
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The appropriated budget is prepared by fund, function (e.g., public safety), and department (e.g., <br />police). Department heads may make transfers of appropriations within a department. Transfers <br />of appropriations between funds, however, require the special approval of the city council. <br />Budget -to- actual comparisons are provided in this report for each individual governmental fund <br />for which an appropriated annual budget has been adopted. For the general fund, this <br />comparison is presented on page 33 as part of the basic financial statements for the governmental <br />funds. For governmental funds other than the general fund, and with appropriated annual <br />budgets, this comparison is presented in the governmental fund subsection of this report, shown <br />on pages 34 -35, and 90 -93. <br />Factors Affecting Financial Condition <br />The information presented in the financial statements is perhaps best understood when it is <br />considered from the broader perspective of the specific environment within which the City of <br />Roseville operates. <br />Local economy. The nationwide economic downturn has had some effects on the City of <br />Roseville including a slight decline in jobs and overall tax base. However, the City of Roseville <br />expects these local indicators to improve in the near future. The region while noted for a strong <br />retail sector, enjoyed modest re- development in recent years. The re- development consisted of <br />varied retail that added to the relative stability of the unemployment rate. Major industries with <br />headquarters or divisions located within the government's boundaries or in close proximity <br />include computer hardware and software manufacturers, electrical controls and medical services, <br />and several divisions of state government departments which administer the state highway <br />system and the State's educational administration of K -12 operations. <br />The City of Roseville area has an employed labor force of approximately 40,000 which is <br />anticipated to remain mostly steady for the foreseeable future. <br />Because of the fully developed nature of the community, the opportunity for new and expanded <br />housing is limited. The city's emphasis has been, in recent years, on assisting homeowners to <br />redevelop and remodel the current available housing so that as the change -over from older <br />residents occurs, younger families will continue to be attracted to Roseville. <br />Long -term financial planning. The city council is in the planning stages of establishing the <br />City's long -term goals and objectives. Plans include; establishing adequate funding mechanisms <br />for infrastructure replacement, replenishing the City's housing stock, and securing funds for <br />recreational facilities. <br />The city is also working closely with state, federal and neighboring communities to improve the <br />area's state and county transportation network, which includes upgraded highways and well - <br />placed pathways. Funding for most of the transportation improvements will need to come from <br />state, county and federal sources, with some minor portion supported by the local taxpayers. <br />3 <br />
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