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Accountin� System and Budgetar Control (Continued) A11 internal control evaluations occur within the above framework. We believe that the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transacti.ons. A budgetary system of accounts is maintained for the general and special revenue funds. Control is maintained by the use of a purchase order system and the conti.nu- ing review of actual expenditures compared tu budgeted amounts. Budget revisions are done upon approval of a resolution by the City Council. The financial statements of revenue and expenditures compared with the budget in this report would reflect these revisions. Reserve for encumbrances is reported as part of the fund balance at the end of the fiscal year. The Citv and Its Services The funds included in this comprehensive annual financial report are controlled by or dependent on the City of Roseville. Determination of "controlled by or dependent on" is based on criteria developed by the Federal Bureau of the Census. The criteria deal with existence as an organized entity, governmental character, and substantial autonomy. Based on these criteria the various funds and account groups, which are a11 the fund and account,groups of the City shown in the table of contents, are included in this report. � The City provides a full range of municipal services. This includes police, fire, parks and recreation, public improvements, street maintenance, sanitary sewer and water utilities, planning and general administrative services. City Financial Ac�Giv-iE�y�Highlights During 1980 1) General Improvement Bonds, Series 10 were sold at a net interest rate of 7.63% 2)'` Bond principal of $1,315,000 was retired during the year 3)-" The Workmens° Compensation Self Insurance Fund was established on January 1, 1980 4. Interest earnings for the year were $861,283 5) The Muncipal Finance Officers Association of the United States and Canada awarded a Certificate of Conformance in Financial Reporting to the City for its comprehensive annual financial report for the fiscal year 1979 Debt Administration Net bonded debt per capita, and the percentages of net debt to assessed value and to market value are useful indicators of the City's d.ebt Pesition. Debt statistics for the City as of December 31, 1980 are as follows: Net direct debt Net overlapping debt Tota1 1980 Total 1979 Percent of Percenl of Debt Per Amount Assessed Va1ue Plarket Value Capita $ 7,066,942 3.29 11,902,898 5.54 18,969,540 8.83 23,354,034 12.42 2 .76 $200.57 1.29 337.81 2.05 538.38 3.01 612.65