2015_0511_CCPacket - Laserfiche WebLink

Home

City of Roseville,Minnesota NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (Page 1 of 1) For the Fiscal Year Ended December 31,2014 Budgetary Information Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for the governmental funds classified as the general fund and special revenue funds. No budgets are prepared for other governmental funds which include the debt service and capital projects. All annual appropriations lapse at fiscal year-end. On or before mid-May of each year,all departments and agencies of the City submit requests for appropriations to the City's manager so that a budget may be prepared. Before September 15,the proposed budget is presented to the city council for review and approval. By September 15, the proposed budget and tax levy must be submitted to the county auditor. The Council holds public hearings and a final budget and tax levy must be prepared, adopted and submitted to the county auditor,no later than December 28. The appropriated budget is prepared by fund, function and department. The City's department heads may make transfers of appropriations within a fund with approval of the City's manager,without Council approval. Transfers of appropriations between funds require the approval of the Council. The legal level of budgetary control(i.e. the level at which expenditures may not legally exceed appropriations)is at the fund level. The Council made a supplementary budgetary appropriation for the two special revenue funds in 2014. The supplementary budgetary appropriation expenditures in the Community Development fund by$99,000,and expenditures in the Telecommunications Fund by$4,000. 76