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CITY OF ROSEVILLE. MINNESOTA
<br />NOTES TO FINANLIAL STATEMENTS - (CONTINUEDI
<br />QECEMeER 3�, 1987
<br />Note 2 - Accountina Chanqe
<br />The City has imptemented the provisions of Statement No. 6 of the Governmental 0.ccounting Standards
<br />Board, Accounting and FinanciaL Reporting for Special Assessments. In the past, speciaL assessment
<br />(improvements) projects and retated debt were accounted tor in the speciaL assessment fund in a
<br />separate fund type. Statement No. 6 provides that such projects are to be accounted for in capitaL
<br />projects funds, and the general obLigation debt is to be accounted for in the generaL Long-term debt
<br />account group and related debt service funds.
<br />The change in accounting for special assessments has been applied retroactiveLy in the accompany9ng
<br />financiaL statements. The effect of the change uas to etiminate the speciat assessment fund, increase
<br />the January 1, 1987 fund baLance in the de6t service fund type by 88,754,949, increase the January 1,
<br />7987 fund 6aLance in the capital projects fund type hy 82,035,920 a�d tra�sfer the speciaL assessment
<br />(improvement) bonds outstanding of 813,845,000 at January 7, 1987, to the generat Long-term debt account
<br />group.
<br />Individuat fund balances (deficits) at January 1, 1987 were restated as foLLows:
<br />Fund
<br />Special Assessments Fund:
<br />Debt Service Funds:
<br />City General Obligation
<br />9onds
<br />Tax Increment District
<br />Bonds
<br />State MSA Bonds
<br />SpeciaL Assess. G.O.
<br />Bonds
<br />CapitaL Projects Funds:
<br />Equipment
<br />Permanent Improvement
<br />State Recreation Grant
<br />Speciat Assessment
<br />Tax Increment
<br />As Previously
<br />Reported
<br />(2,459,130)
<br />S 3,039
<br />327,429
<br />83,557
<br />S 414,025
<br />950,223
<br />902,221
<br />27,525
<br />13,524,576
<br />75.404,545
<br />As Resiated
<br />-0-
<br />S 3,039
<br />327,429
<br />83,557
<br />8,154,949
<br />58,568,974
<br />950,223
<br />902,221
<br />27,525
<br />2,035,920
<br />13,524,576
<br />17,440,465
<br />Additionally, as a resutt of this change, the excess of revenues and other sources over ezpenditures and
<br />other uses for the debt service fund type increased (decreased) 8191,435 and 8223,489, respectively, and
<br />for the capital projects fund type (decreased) S(10,334,056) and S(71,279,642) in 1987 and 1986,
<br />respectiveLy. Individual funds were affected as fottows:
<br />-33-
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