CITY OF ROSEVILLE
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2001
<br />NOTE 3- STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY (Continued)
<br />B. Excess of expenditures over appropriations
<br />For the year ended December 31, 2001, expenditures and other fmancing uses exceeded
<br />appropriations in the general fund in the amount of $ 179,571, the recreation fund by $ 241,428, the
<br />telecommunications fund by $ 30,127, the license center fund by $ 107,738 and information
<br />technology by $ 87,577. These over expenditures were funded by greater than anticipated revenues,
<br />available fund balances and future revenues.
<br />C. Deficit fund equity
<br />T'he recreation, general obligation improvement bonds, license center, information technology and
<br />lawful gambling funds had deficit balances of $ 868,015, $ 733,017, $ 40,813, $ 18,013 and
<br />$ 90,358, respectively. These fund deficits are expected to be covered from future fund revenues or
<br />transfers from other funds
<br />NOTE 4- DETAILED NOTES ON ALL FUNDS
<br />A. Deposits and investments
<br />At year end, the City's carrying amount of deposits was $ 299,577 composed of bank balances of
<br />$ 295,325 and $ 4,252 in various petty cash and imprest funds. All balances were covered by federal
<br />depository insurance or by perfected collateral held by the City's agent in the City's name.
<br />Investments are categorized into these three categories of credit risk:
<br />1. Insured or registered, or securities held by the City or its agent in the City's name.
<br />2. Uninsured and unregistered, with securities held by the counter party's trust department or agent
<br />in the City's name.
<br />3. Uninsured and unregistered, with securities held by the counter party, or by its trust department
<br />or agent, but not in the City's name.
<br />At year-end, the City's investment balances were as follows:
<br />U.S. Government securities
<br />Collateralized negotiable
<br />certificates of deposit
<br />Tota1 Investments
<br />Reported
<br />Category Amount
<br />Fair Value
<br />$ 26,812,155 $ 0 $ 0 $ 26,812,155
<br />14,654,000 0 0 14,654,000
<br />$ 41,466,155 $ 0 $ 0 $ 41,466,155
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