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Agency Fund'-�.`�-.�. <br />The Youth Service Bureau Fund was established to account for the operation�of the <br />Northwest Youth Service Bureau. The Bureau is a separate non-profit organization� <br />which was established under a joint po�.�ers agreement between the City of Roseville <br />and other governmental units. In accordance with the terms of the agreement, the <br />City pr�vides accounting services tb the Bureau. <br />Generai. Fixed Assets Group of Accounts � <br />General Fixed Assets are those fixed assets used in the performance of general <br />governmental functions and exclude fixed assets of the enterprise funds. <br />Th�z City has ci3osen to report a11 public domain fixed assets such as streets, storm <br />sewe�r and simi�ar assets that are immovable and of value only to the City. <br />GeneraZ Group o£ Accounts <br />General loag-term debt is used to account for general obligation bonds and other <br />forms cs£ long-tecm debt supported by general revenues and are obligations of the <br />City as a whole aad not its individual funds. <br />Investments <br />AII �e�porary cash surpluses during the year are invested in various securities which <br />State s[atutes permit. Investment yields ranged from 7.75% to 13��.75% during the year. ���. <br />Earnings for 1979 were $735,269 and $584,913 for 1978. The earnings were distributed ' <br />to. the £oi3owing fund types. <br />General <br />Special revenue <br />Debt service <br />Capital projects <br />Special assessments <br />Enterprise <br />P en s i cs�as <br />$ 69,557 <br />10,751 <br />7,083 <br />35,046 <br />445,562 <br />167,270 <br />5735 269 <br />Emp�Payees of the City are covered by the following four pension plans, with other <br />agenc.ies being responsible for the administration of each plan. The City is making <br />al.:. pension cor�tributions required by law. <br />1. P.oseville Firemen's Relief Association for Volunteer Firemen <br />2. Pvblic Employees Retirement Association Police and Fire Plan <br />covering full-time Police Officers and the Fire Marshal <br />3. Public Employees Retirement Association Basic Plan which covers <br />a n�rtnber of civilian employees <br />4. PuF�lic Employees Retirement Association Coordinated P1an which <br />covers the balance of the civilian employees. Employees covered <br />by the Coordinated Plan are also covered by Social Security. <br />State �'inaacial Legislation <br />The �938 Minnasota Legislature enacted Chapter 787 to standardize and improve <br />municipal finaacial reporting so that financial reports will accurately present a <br />City`s financial position and conform to generally accepted accounting principles <br />This r�eport camplies with these requirements. <br />