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<br />June 1, 1989 ���--
<br />Honorable Mayor and City Council
<br />City of Roseville
<br />Roseville, Minnesota 55113
<br />Dear Council Members:
<br />The Comprehensive Annual Financial Report of the City of
<br />Roseville, Minnesota, for the fiscal year ended December 31,
<br />1988, is submitted herewith:
<br />Introduction
<br />The organization, form and contents of this report were prepared
<br />in accordance with the standards prescribed by the Government
<br />' Finance Officers Association of the United States and Canada, the
<br />American Institute of Certified Public Accountants, the
<br />Government Accounting Standards Board, and the Minnesota State
<br />Auditor's Office.
<br />The report is published to provide to the Council, to
<br />representatives of financial institutions, and to our citizens
<br />detailed information concerning the financial condition of the
<br />City. Responsibility for both the accuracy of the presented data
<br />and the completeness and fairness of the presentation, including
<br />all disclosures, rests with the City. We believe the data as
<br />presented are accurate in all material aspects, that it is pre-
<br />sented in a manner designed to fairly set forth the financial
<br />position and results of operations of the City as measured by the
<br />financial activity of its various funds, and that all disclosures
<br />necessary to enable the reader to gain the maximum understanding
<br />of the City's financial activity have been included.
<br />The report was prepared by the City's Finance Department, and
<br />consists of three sections:
<br />Section I is the introductory section and contains the table of
<br />contents, letter of transmittal, and other appropriate material.
<br />Section II is the financial section and contains the auditors'
<br />opinion, the combined financial statements, notes to the
<br />financial statements, the combining and individual fund
<br />statements, account group statements and supplemental
<br />information.
<br />Section III is the statistical section which includes the
<br />previous years' financial and nonfinancial data.
<br />The City's financial statements include all funds, account
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