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2015_Approved Budget and CIP.pdf
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2015_Approved Budget and CIP.pdf
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City of Roseville — 2015 Budget <br />Government resources are allocated to and accounted for in individual funds based upon the purposes <br />for which they are to be spent and the means by which spending activities are controlled. The various <br />funds are grouped in the Comprehensive Annual Financial Report (CAFR) into three broad fund <br />categories and six generic fund types as follows: <br />Governmental Funds Subject to Financial Planning and Appropriation <br />General Fund - the General fund is the primary operating fund of the City. It is used to account for all <br />financial resources except those required to be accounted for in another fund. <br />Special Revenue Funds - Special revenue funds are used to account for the proceeds of certain specific <br />revenue sources that are legally restricted to expenditures for specified purposes. <br />Governmental Funds Subject to Financial Planning, but not Subject to Appropriation <br />Debt Service Funds - Debt service funds are used to account for the accumulation of resources for, and <br />the payment of general long-term debt principal, interest, and related costs. <br />Capital Projects Funds - Capital projects funds are used to account for financial resources to be used for <br />the acquisition or construction of major capital facilities other than those financed by proprietary funds. <br />Other Funds Subject to Financial Planning but not Subject to Appropriation (Proprietary Funds) <br />Enterprise Funds - Enterprise Funds are used to account far operations that are financed and operated in <br />a manner similar to private business enterprises. With these, the intent of the governing body is that the <br />costs (expenses, including depreciation) of providing goods or services to the general public on a <br />continuing basis be financed or recovered primarily through user charges. The City has five Enterprise <br />Funds: Water Utility Fund, Sewer Utility Fund, Storm Drainage Fund, Golf Course Fund, and Solid <br />Waste Recycling. <br />Internal Service funds - Internal Service Funds are used to account for the iinancing of goods or services <br />provided by one department or agency to other departments or agencies of the City. The City has two <br />Internal Service Funds, they are: Workers' Compensation Self-Insurance Fund which accounts for the <br />City's Workers' compensation claims, and the Risk Management Fund which accounts for all of the <br />City's general insurance costs. <br />Basis of Accounting <br />The modified accrual basis of accounting is used by governmental fund types. Under the modified <br />accrual basis of accounting, revenues are recognized when they become both measurable and available. <br />"Measurable" means the amount of the transaction can be determined and "available" means collectible <br />within the current period or soon enough thereafter to be used to pay liabilities of the current period. <br />The city considers property taXes as available if they are collected within 60 days after year-end. <br />Expenditures are recorded when the related fund liability is incurred. Principal and interest on general <br />long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the <br />debt service fund for payments to be made early in the following year. <br />Those revenues susceptible to accrual are property taxes, special assessments, licenses, interest revenue <br />and charges for services. State aids held by the state at year-end on behalf of the government also are <br />recognized as revenue. Fines and permits are not susceptible to accrual because generally they are not <br />measurable until received in cash. <br />114 <br />
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