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4/21/2017 11:10:13 AM
Creation date
4/21/2017 11:09:04 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
4/10/2017
Meeting Type
Regular
Resolution #
11409
Resolution Title
RESOLUTION AMENDING THE FINANCIAL POLICIES FOR THE CITY OF ROSEVILLE
Resolution Date Passed
4/10/2017
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Capital Improvement Plan—A comprehensive 20 year outlook itemizing all capital assets and their <br /> replacement funding requirements. The plan will take into account useful asset lives and salvage <br /> values. <br /> Replacement Cost— In today's dollars, the cost to replace the asset. If it is expected the retired asset <br /> will have a salvage value, the estimated salvage value should be deducted from the expected <br /> replacement cost. <br /> Asset Life—The number of years which is the asset is in use, also known as the useful life of a capital <br /> asset. <br /> Bonding—The amount of debt incurred to obtain capital assets. <br /> Capital Asset Maintenance— Expenditures which protect the City's investment in capital assets and <br /> provide for ongoing upkeep. <br /> Equipment — A tangible capital asset which does not qualify as a vehicle, building, street, or park <br /> asset. Examples are mowers, tools, etc. <br /> MSA Capital Allocation—Municipal State Aid is money the City receives from the State to help pay <br /> for maintenance of MSA-designated streets. MSA streets are collector or arterial streets that <br /> interconnect to other cities or major thoroughfares. <br /> Enterprise Fund — A separate accounting and financial reporting mechanism for municipal services <br /> for which is 100% fee supported. Examples are Water, Sewer, and Golf Course. <br /> General Governmental Fund—A separate accounting and financial reporting mechanism for spending <br /> in which a property tax is generally levied. Examples are police, fire, streets, parks and recreation. <br /> Enterprise Fund System Asset—Assets which support enterprise services such as water, sewer, and <br /> golf course. <br /> Park System Asset — All assets within city parks excluding buildings. Examples would be trails, <br /> equipment, and courts. <br /> Implementation <br /> The City shall use replacement funds to assist in the replacement of equipment, vehicles, and capital <br /> building maintenance. New equipment or buildings are to be funded from new dollars, unless they are <br /> designated to replace currently owned assets. Funds may be used up to the amount of the replacement <br /> funds set aside for that particular asset. Any additional funding shall be from new sources. <br /> Page 9 of 15 <br />
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