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CCP 06202022
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CCP 06202022
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8/11/2022 12:08:27 PM
Creation date
8/11/2022 12:08:06 PM
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Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
6/20/2022
Meeting Type
Regular
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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />10. Fund balance <br />a. Classification <br />In the fund financial statements, governmental funds report fund classifications that comprise <br />hierarchy based primarily on the extent to which the City is bound to honor constraints on the <br />specific purpose for which amounts in those funds can be spent. <br />Nonspendable Fund Balance These are amounts that cannot be spent because they <br />are not in spendable form. <br />Restricted Fund Balance These are amounts that are restricted to specific purposes <br />either by a) constraints placed on the use of resources by creditors, grantors, <br />contributors, or laws or regulations of other governments or b) imposed by law through <br />enabling legislation. <br />Committed Fund Balance These are amounts that can only be used for specific <br />purposes pursuant to constraints imposed by the City Council (highest level of decision- <br />makingauthority) through resolution. <br />Assigned Fund Balance These are amounts that are constr <br />be used for specific purposes but are neither restricted nor committed. Pursuant to <br />Council resolution, the City Council is authorized to establish assignments of fund <br />balance. <br />Unassigned Fund Balance These are residual amounts in the General Fund not <br />reported in any other classification. The General Fund is the only fund that can report a <br />positive unassigned fund balance. Other funds would report a negative unassigned fund <br />balance should the total of nonspendable, restricted and committed fund balances <br />exceed the total net resources of that fund. <br />use restricted resources, and then use unrestricted resources as they are needed. When <br />resources in the following order: 1) committed, 2) assigned, and 3) unassigned. <br />b. Minimum Fund Balance <br />of each year, the City will maintain the unassigned portion <br />of the fund balance for cash flow in a range equal to 35% to 50% of the General Fund <br />operating expenditures. <br />11. Net position <br />The Statement of Net Position reports restrictions in net position for community development <br />revenues which are used for building code enforcement, development and redevelopment <br />activities. Telecommunication revenues are used for the administration and maintenance of <br />telecommunication activities. Park dedication proceeds are used to create parks or park <br />improvements within a new development area. Law Enforcement is proceeds received from <br />forfeitures generated from driving under the influence (DUI) or drug possession whose proceeds <br />49 <br /> <br />
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