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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2024 <br />8. Long-term obligations <br /> <br />In the government-wide financial statements, and proprietary fund types in the fund financial <br />statements, long-term debt and other long-term obligations are reported as liabilities in the <br />applicable governmental activities, business-type activities, and proprietary fund type statement of <br />net position. Bond premiums and discounts, if material, are deferred and amortized over the life of <br />the bonds using the effective interest method. In the fund financial statements, governmental fund <br />types recognize bond premiums and discounts, as well as bond issuance costs, during the current <br />period. The face amount of debt issued is reported as other financing sources. Premiums received <br />on debt issuances are reported as other financing sources while discounts on debt issuances are <br />reported as other financing uses. Issuance costs, whether or not withheld from the actual debt <br />proceeds received, are reported as debt service expenditures. <br />49 <br />Qbhf!68!pg!334 <br /> <br />