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The Roseville Lutheran Cemetery Fund was established in 1993 to account for the revenue and expenditures associated with the Roseville Lutheran Cemetery. The cemetery came into the city's care when the previous owners would no longer take responsibility. General Fixed Asset Account Groun Generai fixed assets (pubiic domain) consist of roads, bridges, curbs and gutters, streets and sidewalks, lighting systems and equipment necessary to service the general governmental functions of the City. Such assets are not depreciated. General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, ' capital acquisition and construction ue reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets ' aze valued at cost where historical records aze available and at an estimated historical cost where ' no historical records exist. Donated fixed assets aze valued at their estimated fair mazket value on the date received. General Lo�-Term Debt Account Grouo General long-term debt is used to account for general obiigation bonds, general obligation tale increment bonds, general obligation State aid highway bonds, accrued vacation pay and compensatory time off for governmental fund types, and other forms of long-term debt supported by general revenues which are obligations of the City as a whole and not its individual funds. Revenue Limitations Fiscal Dis�arities The State Legislature enacted a Fiscal Dispaziry Law in 1971, which was not implemented until ta�ces payable in 1975, due to a constitutional challenge. The law provides for the pooling of forty percent of all new commercial and industrial property valuations in the seven county metropolitan azea. In turn, valuations from this pool aze to be redistributed to taxing jurisdictions according to specific criteria. Although it is difficult to determine the future impact of the Fiscal Disparity Law on the City, the law had the effect of reducing taxable valuation as follows: Ta�c Capacity Real Estate 1993 $43,087,020 1994 $42,223,857 Personal Property 767.721 787 869 $43.854.741 $43,011.726