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CI�s OF RGSEVILLE, MZNNESGTA <br />NOTES TO THE rINANCIAL STATE'rIENTS (CONTINUED) <br />DECEMBER 31, 1985 <br />Note 1- Summary of SiQnificant AccountinQ Policies (Continued) <br />statements in this report into eighi generic fund 'cypes and three broad fund <br />categories as follows: <br />GOVERNMENTHL FtiNDS <br />General rund - The General Fund is the primary operating fund of the City. It is <br />used to account for ali financial resources except ihose required to be accounted <br />for in another iund. <br />Special revenue funds - Special revenue funds are used to account for the proceeds <br />of certain specific revenue sources thac are legaily restricted to expenditures for <br />specified purposes. <br />Debt service funds - Debt service funds are used to account for the accumuiation <br />of resources for, and the payment of, general long-term debt principal, interest, <br />and related costs. <br />Capital projects funds - Gapital projects funds are used to account for financial <br />resources to be used for the acquisition or construction of major capital <br />faciiities and equipment. <br />Special assessment funds - Special assessment funds are used to <br />financing of public improvements or services deemed to benefit <br />against whicn special assessments are levied. <br />PROPRIETARY FUIvTiS <br />account for the <br />the properties <br />r,nterprise funds - Enterprise funds are used to account for operations that are <br />financed and operated in a manner similar to private business enterprises - where <br />the intent is that the costs (expenses, including depreciation) of providing <br />goods or services to the general public on a continuing basis be financed or <br />recovered primarily through user charges. <br />Internal services funds - Internal service funds are used to account for the <br />financing of goods or services provided by one department to other departments of <br />the City. <br />FIDliCIAt�Y FUNDS <br />Agency funds - Agency funds are used to account for the assets held by the City <br />as an agent for a governmental unit. <br />B. Measurement Focus <br />The accounting and reporting treatmeni applied to the fixed assets and long-term <br />iiabilities associated with a fund are determined by its measurement focus. <br />Governmental funds and Expendable Trust funds are accounted for on a spending or <br />"financial flow" measurement focus. This means,that only current assets and current <br />liabilities are generally included on their balance sheets. Their reported iund <br />