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CITY OF ROSEVILLE, MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31, 2016 <br /> <br /> <br /> <br /> <br /> Amounts reported as program revenues include 1) charges to customers or applicants for goods, <br /> services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and <br /> contributions, including special assessments. Internally dedicated resources are reported as general <br /> revenues rather than as program revenues. Likewise, general revenues include all taxes. <br /> <br /> Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating <br /> revenues and expenses generally result from providing services and producing and delivering goods <br /> in connection with a proprietary fund's principal ongoing operations. The principal operating revenue <br /> of the City's enterprise funds and internal service funds are charges to customers for sales and <br /> services. Operating expenses for enterprise funds and internal service funds include the cost of sales <br /> and services, administrative expenses, and depreciation on capital assets. All revenues and expenses <br /> not meeting this definition are reported as nonoperating revenues and expenses. <br /> <br /> When both restricted and unrestricted resources are available for use, it is the City's policy to use <br /> restricted resources first, and then unrestricted resources as they are needed. <br /> <br />D. ASSETS, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION/FUND BALANCE <br /> <br /> 1. Deposits and investments <br /> <br /> The enterprise and internal service funds participate in the pooling of City-wide cash and <br /> investments. Amounts from the pool are available to these funds on demand. As a result, the <br /> cash and investments of the enterprise and internal service funds are considered to be cash and <br /> cash equivalents for statement of cash flow purposes. <br /> <br /> State statutes authorize investments in the following: direct obligations or obligations guaranteed <br /> by the United States or its agencies; shares of investment companies registered under the Federal <br /> Investment Company Act of 1940 which receive the highest credit rating are rated in one of the <br /> two highest rating categories by a statistical rating agency, and all of the investments have a final <br /> maturity of thirteen months or less; municipal general obligations rated "A" or better; municipal <br /> revenue obligations rated "AA" or better, general obligations of the Minnesota Housing Finance <br /> Agency rated "A" or better; bankers acceptances of United States' banks eligible for purchase of <br /> by the Federal Reserve System; commercial paper issued by United States corporations or their <br /> Canadian subsidiaries, of the highest quality category by at least two nationally recognized rating <br /> agencies, and maturing in 270 days or less; Guaranteed Investment Contracts guaranteed by a <br /> United States commercial bank, domestic branch of a foreign bank, or a United States insurance <br /> company, and with a credit quality in one of the top two highest categories, repurchase or reverse <br /> repurchase agreements and securities lending agreements with financial institutions qualifies as a <br /> "depository" by the City entity, with banks that are members of the Federal Reserve System with <br /> capitalization exceeding $10,000,000, a primary reporting dealer in U.S. government securities to <br /> Federal Reserve Bank of New York, or certain Minnesota securities broker-dealers. <br /> <br />Investments for the City, the component unit, and the Roseville Visitor’s Association are reported <br />at fair value. <br /> <br /> <br />44 <br />Item 8: Attachment D