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Ths Grasa Lake watar Kanaqaaant Orqanisation is a eeparate <br />nonprofit orqaaisation Mhich ras •stabliahod und�r a joiat poM�re <br />agr�}m�nt b�tM��n ths City of Roa�vill• and th• City o! <br />Bhor�vi�N. Zn accordanc• rith th• t�raa of tha aqr�emant, th• <br />City provid�s accountiaq s�rvic�s to th� orqanisation. <br />Th� D�f�rred Comp�naation fuad is to aocount for thoaa fuade <br />which ar• h�ld in trust by trust�os for futura r�tir�mant <br />b�n�lits foz City �mplop��a. <br />Th� Coaaunitp,D�v�lopment Hloek Grsnt Fund accounta for th• reve- <br />nu�s and �zp�nditur�a aaaocist�d Mith th� block qranta awardad <br />to th� City throuqh Rams�y County. <br />Th• Loca1 D�v�lopment Corporation accounts for funda r�c�iv�d <br />froa block grants and othor sourc�s for th� ap�cial housinq naods <br />r�lat�d to loM and aoderat• incom� p�opU. <br />Th• 1lunicipal L�gislativ� Comaission is a s�paxat� aon-profit <br />organisation rhioh providss l�gislativ� support and lobbyinq <br />•fforts !or a qroup o! metro citi�a vhich includes Roseville. <br />Citi�s:rotat� on a p�riodic basis in th� provision of accountinq <br />snd liscal s�rvic�a. Ros�vill• Mill b� th� aurrent provider of <br />thoe� s�rvia�s !or th� n�zt s�v�ral p�ars. <br />General Fiaad J►aaet account GrouD <br />G�n�ra1 Piz�d 7►as�ts ar• thos� liz�d ass�ts us�d in th• <br />p�rformanc• of,q�n�ral qov�rnm�ntal functions and �zciud� fixod <br />asa�ts ot th� �nt�rprisa lunda. The Citp has chos�n to report <br />all publia domaia lized assats, suah as str��ts, traffic aontrol, <br />ind similar aas�ts that are immovabl• and of valu• onlp to tha <br />Citp. Th� Citg haa startad a proqram of raviavinq th• machinery <br />aad •quipm�nt inv�atory. I►djusta�ats hav• b��n sad• to tho <br />inventory records, and ar• r�fl�cted in the addition and <br />diduction'columna of th• Geaeral Yiz�d Asaeta recorda. <br />Genaral'Lonc-Term Debt Account Grouu <br />aon�zal loaq-t�ra dabt 3a usad to account for q�neral obliqation <br />banda, qeneral obliqation taz iacrement bonda, qenaral obligation <br />8tat• aid hiqhrap bonds, accruad vacatioa pap and componeatory <br />time o!f'!or gov�rnmontal fund typ�a, aad othar forma of lonq- <br />t�ra dobt support�d bp q�neral rovanuea rhich ar� obliqationa of <br />th� Citp-,as s rhol� and not its individual funds. <br />�aaa� Liaitatioas <br />Fiacal'Diaoariti�a <br />Th• etat• L�qislatur• �nact�d a Piscal Disparity Lar in 1971, <br />Mhich waa not implamented until tazos payabl� ia 1975, due to a <br />coaatitutioaal chall�nqo. Th• laM provid�s for th� poolinq o! <br />lorty p�rc�nt ot all now comaercial aad induetrial proparty <br />valuatioas'in th� s�v�n couatp a�tropolitan ar�a. Zn turn, <br />9 <br />