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CITY OF ROSEVILLE MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (CONTINUEO) <br />DECEMBER 31. 1989 <br />Note 1- SummarY of Siq ific t Accountinq Policies (Cantinued) <br />of employment, except upon retirement, at uhich time empLoyees are entitled to one-half of their <br />accumutated teave up to one month's pay. Vacation and compensatory time off are accrued when earned and <br />sick pay is expensed ahen payment is made in the proprietary funds. Yacation, compensatory time off, and <br />sick pay are recognized uhen payment is made in the governmental funds. Lia6iLity for the governmentat <br />funds is reflected i❑ the General Long-Term Debt Acrount Group represeniing the City's commitment to fiund <br />such costs from future operations. <br />Cash FLows - The City has adopted the provisions of Staiemeni No. 9 of the Governmental Attounting Standards <br />Board, 'fteporting Cash Ftows of Proprietary and NonexpendabLe Trust Funds and Governmentat Entities That Use <br />Proprietary Fund Accounting,' in 1989. The Statements of Changes in Financial Position for 1988 have heen <br />restated to contorm to the 1989 Statements of Cash Flows format. For purposes of this statement, aLt highly <br />Liquid investments (including restricted assets) with a maturity of three months or less uhen purchased are <br />considered to be cash equivalents. <br />Claims - There are a number of ctaims for worker's compensation and tiability damage in the internaL <br />service funds which have occurred hut have not yet been conveyed to the City on Decem6er 31 of each year. <br />The City prepares an estimate of those ctaims based on historical information and subsequent events. The <br />amount of the estimate is expensed and shown as a current tiabiLity for the reporting year. <br />Post-Retirement 6enefits - The City does not provide for employee post retirement 6enefits. <br />Comparative Data - Comparetive data for the prior year have heen presented to provide an understanding of <br />changes in the City's financiat position and operations. _ <br />Total Columns on Combined Statements - Total columns on the combined statements are captioned 'Memorandum <br />Only' to indiwte they are presented only to facilitate financial anatysis. Data in these columns do <br />not present fiinantiaL position, resutts of operations, or changes in financial position in conformity <br />witb genereLly accep[ed accounting principles. Neither is such data comparabte to a consolidation. <br />Interfund eliminations have not heen made in the aggregation ot this data. <br />N te 2 Pri Peri d Adi tm ts - Speci l Rev ue and Capital Proiects Punds <br />The remaining Revenue Sharing dolLars had 6een reserved in 1988 for a specitic construction project. In <br />�989, the remainder of the funding for the project was approved. As a resuLt the Special Revenue fund for <br />Revenue Sharing uas re-estahtished as a construction fund and the fund placed uith the permanent improvemen[ <br />funds. Certain adjustments have been made to 1988 comparative totaLs. — <br />Fund ealances <br />as of January 1/1/89 <br />Adjustments due to <br />re-establishiog Federal <br />Revenue Sharing as a <br />CapitaL Improvement Fund <br />January 1/'I/89 as restated <br />Special Revenue <br />Funds <br />5693,999 <br />(149 927) <br />5544 072 <br />34 <br />CapitaL Projects <br />Funds <br />811,146,666 <br />149.927 <br />S'11 296 593 <br />