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CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2011 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) C. Measurement focus, basis of accounting, and financial statement presentation (Continued) The City reports the following major governmental funds: C len era l The general fund is the City's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. Special Revenue The recreation fund accounts for resources and payments related to the parks and recreation functions, the license center fund accounts for resources and payments related to licensing vehicles, driver license renewals, DNR licenses, and passport acceptance activities. Deht S'Servi (',e The debt service fund accounts for resources accumulated and payments for principal and interest on long term general obligation debt. C a ital The revolving improvements fund accounts for revenues and expenditures from replacement funds set aside for equipment and building replacement, and general land improvements. The economic increments construction fund accounts for tax increment payments to various developers as part of Pay -as- you -go TIF agreements and infrastructure improvements. The street construction fund accounts for revenues and expenditures related to street construction and improvements. The City reports the following major proprietary funds: The sanitary sewer fund and the water fund account for the activities related to the operation of a sanitary collection system and a water distribution system, respectively. The golf course fund, accounts for resources and payments related to the operation and maintenance of a municipal golf course. The recycling fund accounts for the resources and expenditures related to the operation of a solid waste recycling collection system. The storm drainage fund accounts for activities related to the operation of a surface water collection system. 45