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Management's Discussion and Analysis As management of the City of Roseville, we offer readers of the City of Roseville's financial statements this narrative overview and analysis of the financial activities of the City of Roseville for the fiscal year ended December 31, 2013. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found on pages 1-4 of this report. Financial Highlights • The net position of the City of Roseville exceeded its liabilities at the close of the most recent �iscal year by $179,588,823 (Net position). Of this amount, $29,696,870 (unrestricted net position) may be used to meet the government's ongoing obligations to citizens and creditors in accordance with the City's fund designations and fiscal policies. • The Ciry's total net position from operations increased by $3,729,676. • As of the close of the current fiscal year, the City of Roseville's governmental activities reported combined ending unrestricted net position of $23,751,419. • At the end of the current fiscal year, unassigned fund balance for the general fund was $5,151,271 or 39% of total general fund expenditures. � The City of Roseville total bonded debt and certificates of indebtedness increased by $2,750,000 during the current fiscal year. Overview of the Financial Statements The discussion and analysis are intended to serve as an introduction to the City of Roseville's basic financial statements. The Ciry of Roseville's basic financial statements comprise three components: 1) government-wide �inancial statements, 2) fund �inancial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government-wide Financial Statements. The government-wide financial statements are designed to provide readers with a broad overview of the City of Roseville's finances, in a manner similar to a private-sector business. The statement of net position presents information on all of the City of Roseville's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the City of Roseville is improving or deteriorating. The statement of activities presents infarmation showing how the Ciry's net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g. uncollected taxes and earned but unused vacation leave). 15