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2012 CAFR
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2012 CAFR
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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2012 <br />NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) <br />C. Measurement focus, basis of accounting, and financial statement presentation (Continued) <br />Additionally, the City reports the following fund types: <br />Internal service funds account for the worker's compensation and general insurance services provided <br />to other departments or agencies of the City. <br />Agency funds account for resources held by the City in a purely custodial capacity for the Grass Lake <br />Water Management Organization, East Metro SWAT, Roseville Islamic Cemetery, and the Roseville <br />Visitors Association. <br />As a rule, the effect of interfund activity has been eliminated from the government -wide financial <br />statements. Exceptions to this rule are other charges between the City's water and sewer function and <br />various other functions of the primary government and its component unit. Elimination of these charges <br />would distort the direct costs and program revenues reported from the various functions concerned. <br />Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, <br />or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, <br />including special assessments. Internally dedicated resources are reported as general revenues rather <br />than as program revenues. Likewise, general revenues include all taxes. <br />Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating <br />revenues and expenses generally result from providing services and producing and delivering goods in <br />connection with a proprietary fund's principal ongoing operations. The principal operating revenue of <br />the City's enterprise funds and internal service funds are charges to customers for sales and services. <br />Operating expenses for enterprise funds and internal service funds include the cost of sales and services, <br />administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this <br />definition are reported as nonoperating revenues and expenses. <br />When both restricted and unrestricted resources are available for use, it is the City's policy to use <br />restricted resources first, and then unrestricted resources as they are needed. <br />D. Assets, liabilities, deferred inflows of resources, and net position/fund balance <br />1. Deposits and investments <br />The enterprise and internal service funds participate in the pooling of City -wide cash and <br />investments. Amounts from the pool are available to these funds on demand. As a result, the cash <br />and investments of the enterprise and internal service funds are considered to be cash and cash <br />equivalents for statement of cash flow purposes. <br />•. <br />
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