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� CITY OF ROSEVIL�E. MINNESOTA <br />� NOTES TO FIMANCIAL SUTEMENiS <br />. . . � � Oeeaiber 31. 1991 <br />.Note t-�Sumierv of Si9nifieent Aeeantins Polities <br />The���City of Roswillq Mimesots, ws incorpontad an May 26, 1948, vd baeame a statuto�y eity on January 1, <br />1976. �Tha City operetes �nder a Caneil-Maneper fors of poverrmmt, ard provides various urviees es authorized <br />.. by:l.3tete.statute, intludinp the followiop: penenl pmerrwimt, pubLie safety, pubtic vorks, perks and <br />r�en�tion, wter ud swer utftity, �nd eam�nity dewlopn�ent. <br />The�.�ceantinp�policin of the City of Roaevill� eonforw to 9���<<Y +«Mtad aeeantinp prineipels appticabte <br />.. .to.�povernirntal units._ The fottawirg ts � sumrry of th� �or� sipnifie�nL polieiea. <br />A. ��:Reportinp Entity <br />Fo�fironeial.reportinp purpoaes the City's finaneid statemmts inelude alt tvds, �eeount groups, departments, <br />apeneies,:'.boerds, tanissioru, and othe� orp�niz�tioru over vhieh City otficials exereise oversight <br />resporaibility. <br />Overaiyht respornibility inoludes sueh aspeen as appointm�nt of poverninp body menbers, bdpet review, epprovet <br />of :property ��t�x �levid, outatardirq debt securad by tbe tity's full f�ith and eradit or reverwes and <br />responsibility for fundinp defieits. <br />CeKain�organixstiau have bem excluded frm the City's ti�ancisl stete�nente sa fotta+s: <br />Exeluded• � �� <br />. . Firemen's.Relief�Assxiation - This essxiation is orpanixed as a �wn-profit organizetion by it's <br />menbers to <br />:provide.pension erd other benefits to their respeetive eenbers in seeordenoe with Minnesots statutes <br />Their <br />�board of direetors �re eleeted by the nw+nbers. Atl fudirq is eondeted ie xeordence rith Ninnesote stacutes, <br />whereby stete:�ida ftow to the esaxistion, erd tex levies �re determined by the essxiation. The association <br />psya bmefits.direetly to their menbera. The aasxi�tion �ry eertffy taa levies to the Canty direetly if the <br />City.ebes not �:urry a+t this funetim. Beesuse the assxi�tim te abte to tvd iNs progrems irWependmtly of <br />the:City, it is exeluded fra� tAe reportirq mtfty. <See Mote 72 for diaclosures relatirp to the pension ptan <br />ope�atcd by the essaci�tia+.) <br />Irdependmt.:5ehool Oistriets No. 621 ard 623 - These Distriets, like elt :chool distriets in Minnesota, are <br />eo�letely indeperdent of eny other 9overmentel entity. Thty hwe tAeir awn elected Boards of Educetion, levy <br />their own taaes +rd prepere their an firrnei�l report�. <br />B. �:Fvd ACCantinp ... . . <br />T�e(�ecants ot �the Cfty �re orv+��=�d w+ the b�sis of fv+ds vd �ccant proi.ps, eech ot yhich is considered <br />• sepante �ceantinp mtity. Tbe opentiau of e�ch fvd �re �ccanted for rith a seperote set of selt- <br />Mleneirq �ceants th�t �caiprise its asseta, lisbilities, f�+d equity, reverxms, snd <br />� <br />� <br />