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fiaancial etatemeate, the combiaing and individual fund <br />statemeate, accouat group statemeate and eupplemental <br />information. <br />Section III is the etatietical section which includes the <br />previous yeare' financial and aonfinancial data. i <br />8ectioa IV containe the auditor repozts on compliance and iater- <br />aal controle. <br />The City's finaacial etatemeats include all funde, account <br />groupe, departmente, agencies, boarde, commiesions, and other <br />organizatioae over which City officials exerciee overaight <br />zespoasibillty. <br />Overeight reapoasibility includee such aspects ae appoiatmant of <br />governing body membere, budget appzoval, approval of property tax <br />levies, outstanding debt eecured by City full faith and credit or <br />revenuee, reeponsibility for fuading deficite, and othera. <br />Ae a result of applying the criteria of NCGA Statement 3, the <br />Fire Relief Aseociatioa and Iadependent School Dietricte #621 and <br />�623 have beea excluded from the City'e Financial 6tatements. <br />Sconaaic Comditiam and Outlooi <br />Summarv of Local Economv <br />The economy of the metropolitan Twin City area experieaced eome <br />recovery during 1992. Unemployment ended the year at approxi- <br />mately 4.3$ as compared to the U.S. average of 7.2$. Roeeville, <br />as part of euburban Rameey County, had an unemployment rate of <br />approximately 3.O+k, an decrease from the 3.3+k of 1991. Improve- <br />ment in euch rates contiaue to point to a eignificant etronger <br />economy ia our immediate trade and employment area. <br />The moat recent retail sales data indicates the City of Roeeville <br />ie continuiag to be one of the major retailing centers of the <br />metropolitan area. Retail ealee within the clty have had a 8.8� <br />compounded growth over the paet 5 yeazs. Thie rate comparee to <br />the etate-wide average of 5.3�. <br />Mnior Iaduetries <br />NCR-Comtan Corporatioa, through a buy-out in 1992, became part of <br />AT&T. The effect at the Roseville •ite hae beea poeitive ia that <br />a number of additonal maaufacturing jobe were coneolidated in the <br />City. <br />IInieye, the largest siagle employer within the City has continued ' <br />to experience the softneea of the computer induetry. While their <br />employment wae etable in 1992, it is expected to experience eome <br />decreaee ia 1993. <br />2 <br />