2001 CAFR - Laserfiche WebLink

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The appropriated budget is prepazed by fund, function (e.g., public sa%ty), and department (e.g., police). Department heads may make transfers of appropriations within a department. Transfers of appropriations between funds, however, require the special approval of the city council. Budget-to-actual comparisons aze provided in this report for each individual governmental fund for which an appropriated annual budget has been adopted. For the general fund, this comparison is presented on page 27 as part of the basic financial statements for the govemmental funds. For governmental funds, other than the general fund, with appropriated annual budgets, this comparison is presented in the governmental fund subsection of this report, which starts on page 28. Factors Affecting Financial Condition The information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the City of Roseville operates. Local economy. The City of Roseville currently enjoys a favorable economic environment and local indicators point to continued stability. The region while noted for a strong retail sector, enjoyed considerable re-development in recent years. The re-deve�opment consisted of vazied manufacturing, medical and high-tech base that adds to the relative stability of the unemployment rate. Major industries with headquarters or divisions located within the government's boundaries or in close proximity include computer hardware and software manufacturers, electrical controls and medical services, and several divisions of state government departments which administer the state highway system and the states' educational administration of K-12 operations. The City of Roseville area has an employed labor force of approximately 40,000 which is anticipated to grow at a rate of 3 percent each year for the next several years. Because of the fully developed nature of the community, the opportunity for new and expanded housing is limited. The city's emphasis has been, in recent yeazs, on assisting homeowners to redevelop and remodel the current available housing so that as the change-over from older residents occurs, younger families will continue to be attracted to Roseville. Long-term fmancial planning. The city council is in the planning stages of improving both govemmental service facilities for public safety and general governmental use, and a community center with facilities needed for attracting and retaining a strong resident population. It is anticipated that a bond referendum to fmance the improved community facilities, will be presented to the community in 2002. The city is also working closely with state, federal and neighboring communities to improve the area's state and county transportation network, which includes commuter rail, upgraded highways and well-placed pathways. Funding for most of the transportation improvements will need to come from state, county and federal sources, with some minor portion supported by the local taxpayers.