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C ITY OF R OSEVILLE, M INNESOTA M ANAGEMENT Ó S D ISCUSSION AND A NALYSIS For Year Ended December 31, 2023 F INANCIAL A NALYSIS OF THE G OVERNMENT Ó S F UNDS Governmental Funds The focus of the City of RosevilleÓs governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of RosevilleÓs financing requirements. In particular, unrestricted fund balance may serve as useful measure of a governmentÓs net resources available for spending at the end of the fiscal year. At the end of the current fiscal year, the City of Roseville's governmental funds reported combined ending fund balances of $51,222,151. Approximately 66.03% of this total amount $33,820,067 constitutes unrestricted fund balance. The remainder of the fund balance is restricted to indicate that it is not available for new spending because it is legally restricted for; 1) various operating purposes - $7,082,958, 2) for tax increment financing activities - $5,506,016, 3) debt service - $2,298,919 4) Public Safety Aid $1,594,625 and 5) housing and economic development - $919,566. The General Fund increased $2,379,118 due to the increase fair value of investments valuation adjustment, intergovernmental revenue in relation to Public Safety Aid, and rental revenue. The Recreation Fund increased by $229,603, due mainly to increased program charges for services as the participation continues to rebound from the pandemic in 2020. The Community Development fund increased by $271,470 due to the increase of fair value of investments valuation adjustment. The Roseville Economic Development Authority fund increased by $432,934 due to the increase in fair value of investments valuation adjustment, and reduction in expenses overall. The Debt Service Fund increased by $74,587 largely due to the increase in fair value of investments valuation adjustment. The Revolving Improvements Fund increased by $2,066,393 mainly due to the increase in fair value of investments valuation adjustment and frugal spending. The Economic Increments Construction Fund accounts for the activities in the CityÓs Tax Increment Financing (TIF) Districts. The FundÓs balance increased by $1,502,177 due to receipt of new district tax increment that began in 2022. The Street Construction Fund increased by $527,743 mainly due to the increase in fair value of investments valuation adjustment and frugal spending. Proprietary Funds The City of RosevilleÓs proprietary funds provide the same type of information found in the government- wide financial statements, but in more detail. The Sanitary Sewer fund net position increased by $2,204,455 in 2023. This was a result of an increase in sanitary sewer fee increases in 2023 to fund future capital investment needs and to offset increased operation costs. The Water fund net position increased by $1,186,288, which was a result of a transfer of ARPA funds to cover capital projects that took place in 2023, water fee increases and the collection of back billed water usage rates. 24 Qbhf!56!pg!494