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� CITY OF ROSEVILLE, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31. 1983 Note 1- Summary of Significant Accounting Policies The City of Roseville, Minnesota, was incorporated on May 28, 1948, and became a statutory city on January l, 1974. The City operates under a Council-Manager form of government, and provides for all the services as authorized by State statute, including the following: general government, public safety, public works, and parks and recreation. The accounting policies of the City of Roseville conform to generally accepted accounting principles applicable to governmental units. The following is a summary of the more significant policies. Reporting Entity For the year ended December 31, 1983, the City has implemented National Council on Governmental Accounting Statement 3, Defining the Governmental Reporting Entity. In accordance with Statement 3, for financial reporting purposes the City's financial statements include all funds, account groups, departments, agencies, boards, commissions, and other organizations over which City officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by City full faith and credit or revenues, responsibility for funding deficits, and others. As a result of applying the criteria of Statement 3, the following organization has been excluded from the City's financial statements as follows: Fire Relief Association - This association is organized as a non-profit organization by their members to provide pension and other benefits to such members in accordance with Minnesota statutes. Their boards of directors are appointed by the membership of the organization. A11 funding is conducted in accordance with Minnesota statutes, whereby state aids flow to the associations, tax levies are determined by the association and are only reviewed by the City, and the associations pay benefits directly to their members. (See Note 7 for disclosures relating to the pension plan operated by the association,) � A. Fund Accounting The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self- balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into eight generic fund types and three broad fund categories as follows: -31-