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General Lonry-Term Debt Group of Accounts <br />General long-term deUt is used to account for general obligation bonds and <br />other forms of long-term debt supported by general revenues, and are obli�ations <br />of t]ie City as a �ahole and not its individual funds. <br />Indenendent Audit <br />State law provides that the City may arrange for examination of its bool<s by a <br />Certified Public Accountant or the State Auditor. It has been a long-standing <br />practice of the City to provide for an annual audit of City records by a <br />Certified Public Accountant. Tlie accountant's opi�iion has been included in <br />tliis report. <br />Certificate of Conformance <br />"Tlie Municipal Pinance 0£ficers Association of the United States and Canada (D1FOA) <br />awarded a Certificate of Conformance in Financial Reporting to the City of Roseville, <br />Miimesota, for its comprehensive annual financial report for the fiscal year ended <br />December 31, 1980. <br />In order to be awarded a Certificate of Conformance, a governmental unit must <br />publish an easily readable and efficiently organized comprehensive annual <br />financial rcport, iahose contents conform to program standards. Such reports <br />must satisfy both generally accepted accounting principles and applicable legal <br />requirements. A Certificate of Conformance is valid for a period of one year <br />only. We believe our current report continues to conform to Certificate of <br />Conformance Program requirements, and vae are submitting it to MFOA to determine <br />its eligibility for another certificate." <br />Acknowledgments <br />The preparation of this report on a timely basis could not be accomplished <br />without the efficient and dedicated services of the entire staff of tlle <br />Pinance Department. We should like to express our appreciation to all memUers <br />of the department who assisted and contriUuted to its preparation, iVe should <br />also like to thank the me�nbers of the City Council for their interest and <br />support in planning and conducting the financial operations of the City in a <br />responsible and progressive manner. <br />Respectfully submitted, <br />) <br />��/I��'�C�� � -'L <br />i James F. A�tdre, <br />/ City Manager <br />� Gi'�L�-ti2�_�-� CC�t� <br />Donald Sholund, <br />Finance Director <br />-13- <br />