|
CITY OF ROSEVILLE, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />For Year Ended December 31, 2016
<br />FINANCIAL ANALYSIS OF THE GOVERNMENT AS A WHOLE
<br />The analysis of the City's financial position begins with a review of the Statement of Net Position
<br />and the Statement of Activities. These two statements report the City's net position and changes
<br />therein. It should be noted that the financial position can also be affected by non-financial
<br />factors, including economic conditions, population growth and new regulations. Net position may
<br />serve over time as a useful indicator of a governmenYs financial position. In the case of the City
<br />of Roseville, assets and deferred outflows exceeded liabilities by $182,746,663 as of December
<br />31, 2016. This represents an increase of $811,397 from the previous year.
<br />By far the largest portion of the City of Roseville's net position (82.5% percent) reflects its investment in
<br />capital assets (e.g. land, buildings, machinery, equipment and infrastructure) less any related debt used
<br />to acquire those assets that is still outstanding. The City of Roseville uses these capital assets to provide
<br />services to citizens; consequently, these assets are not available for future spending. Although the City
<br />of Roseville's investment in its capital assets is reported net of related debt, it should be noted that the
<br />resources needed to repay this debt must be provided from other sources, since the capital assets
<br />themselves cannot be used to liquidate these liabilities.
<br />CONDENSED STATEMENT OF NET POSITION
<br />Governmental Covernmental Business-Type Business-Type
<br />Activities Activities Activities Activities Total Total
<br />2016 2015 2016 2015 2016 2015
<br />Cu�rent and other assets $ 56,560,295 $ 55,905,714 $ 5,902,691 $ 6,278,] 06 $ 62,462,986 $ 62,183,820
<br />Capital assets 146,696,875 145,928,212 30,729,106 28,391,384 177,425,981 174,319,596
<br />Total Assets 203,257,170 201,833,926 36,631,797 34,669,490 239,888,967 236,503,416
<br />Deferred outflows ofresources 19,411,015 2,880,401 670,519 145,138 20,081,534 3,025,539
<br />Long-term liabilities
<br />Outstanding 63,084,377 47,271,067 1,774,658 1,216,284 64,859,035 48,487,351
<br />Other liabilities 5,368,779 4,727,511 3,047,431 2,642,937 8,416,210 7,370,448
<br />Total Liabilities 68,453,156 51,998,578 4,822,089 3,859,221 73,275,245 55,857,799
<br />Deferred inflows of resources 3.791 _067
<br />Net Position
<br />Invested in capital assets
<br />net of related debt
<br />Restricted
<br />Unresh•icted
<br />Total Net Position
<br />173 157.526
<br />067 3.948.593 1.581.240
<br />119,959,369 120,125,324 30,729,106 28,391,384 150,688,475 148,516,708
<br />13,847,317 18,157,ll7 - - 13,847,317 18,157,117
<br />16,617,276 12,948,135 1,593,595 2,467,956 ]8,210,871 15,416,091
<br />$ 150,423,962 $ 151,230,576 $ 32,322,701 $ 30,859,340 $182,746,663 $182,089,916
<br />A portion of the of the City of Roseville's net position represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position -$18,210,871,
<br />may be used to meet the City's ongoing obligations to citizens and creditors.
<br />At the end of the current fiscal year, the City of Roseville is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate governmental
<br />and business-type activities.
<br />
|