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C ITY OF R OSEVILLE, M INNESOTA
<br />M ANAGEMENT Ó S D ISCUSSION AND A NALYSIS
<br />For Year Ended December 31, 2023
<br />F INANCIAL A NALYSIS OF THE G OVERNMENT Ó S F UNDS
<br />The analysis of the CityÓs financial position begins with a review of the Statement of Net Position
<br />and the Statement of Activities. These two statements report the CityÓs net position and changes
<br />therein. It should be noted that the financial position can also be affected by non-financial factors,
<br />including economic conditions, population growth and new regulations. Net position may serve
<br />over time as a useful indicator of a governmentÓs financial position. In the case of the City of
<br />Roseville, assets and deferred outflows exceeded liabilities by $218,301,920 as of December 31,
<br />2023. This represents an increase of $10,224,249 from the previous year.
<br />By far the largest portion of the City of Roseville's net position (79.37% percent) reflects its investment in
<br />capital assets (e.g. land, buildings, machinery, equipment and infrastructure) less any related debt used to
<br />acquire those assets that is still outstanding. The City of Roseville uses these capital assets to provide
<br />services to citizens; consequently, these assets are not available for future spending. Although the City of
<br />Roseville's investment in its capital assets is reported net of related debt, it should be noted that the
<br />resources needed to repay this debt must be provided from other sources, since the capital assets
<br />themselves cannot be used to liquidate these liabilities.
<br />CONDENSED STATEMENT OF NET POSITION
<br />GovernmentalGovernmentalBusiness-TypeBusiness-Type
<br />ActivitiesActivitiesActivitiesActivitiesTotalTotal
<br />202320222023202220232022
<br />Current and other assets$69,610,348$60,956,675$12,715,985$7,545,169$82,326,333$68,501,844
<br />Capital assets139,376,004 141,097,883 48,619,899 49,380,866 187,995,903 190,478,749
<br />Total Assets208,986,352 202,054,558 61,335,884 56,926,035 270,322,236 258,980,593
<br />Deferred outflows of resources 24,944,81818,381,687 250,093 515,589 18,631,780 25,460,407
<br />Long-term liabilities
<br />Outstanding 33,964,503 56,190,781 3 ,495,125 4,430,081 37,459,628 60,620,862
<br />Other liabilities 7,278,855 10,717,748 3 ,402,599 3,314,815 10,681,454 14,032,563
<br />Total Liabilities41,243,358 66,908,529 6 ,897,724 7,744,896 48,141,082 74,653,425
<br />Deferred inflows of resources22,074,727 1,623,211 436,287 90,535 22,511,014 1,713,746
<br />Net Position
<br />Net investment in
<br />capital assets 126,897,771 126,195,186 46,378,287 47,163,517 173,276,058 173,358,703
<br />Restricted 22,378,993 13,709,941 - - 22,378,993 13,709,941
<br />Unrestricted 14,773,190 18,562,509 7 ,873,679 2,446,518 22,646,869 21,009,027
<br />Total Net Position$164,049,954$158,467,636$54,251,966$49,610,035$218,301,920$208,077,671
<br />A portion of the of the City of Roseville's net position represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position totaling
<br />$22,646,869 may be used to meet the City's ongoing obligations to citizens and creditors.
<br />At the end of the current fiscal year, the City of Roseville is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate governmental and
<br />business-type activities. The only exception to this is the charitable gambling fund, which was negative as
<br />a result of the fair value adjustment for investments and timing as to when funds were reimbursed to
<br />charities.
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