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CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2005 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: (Continued) 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. The street construction fund accounts for revenues and expenditures related to street construction and improvements. Permanent The funds for tax reduction provide resources for maintaining a reduced property tax levy. The infrastructure replacement fund provides for the street paving management program of the City. 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 systems. The storm drainage fund accounts for activities related to the operation of a surface water collection system. Additionally, the City reports the following fund types: Internal service funds account for the worker's compensation and general insurance services provided to other departments or agencies of the City. The trust fund accounts for the investment activities for a not - for - profit organization devoted to providing cable television oversight for a group of communities of which the City is a member. 47