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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2009 4) The budget and tax levy is legally enacted through the passage of a resolution on a department basis for the General Fund and on a fund basis for Special Revenue and Enterprise Funds that can be expended by each department based upon detailed budget estimates. 5) The City Manager and Finance Director are authorized to transfer appropriations within any department budget. Interdepartmental or interfund appropriations and deletions are authorized by the City Council with fund contingency reserves or additional revenues. 6) Formal budgetary integration is employed as a management control device during the year for the General Fund, Special Revenue, Capital Equipment and Enterprise Funds. The General Fund, Special Revenue Funds and Enterprise Funds all have Council adopted annual budgets. 7) Legal debt obligation indentures determine the appropriation level of debt service tax levies for the Debt Service Funds. Supplementary budgets are adopted for the Proprietary Funds to determine and calculate user charges. These debt service and budget amounts represent general obligation bond indenture provisions and net income for operation and capital maintenance and are not reflected in the financial statements. 8) A capital improvement program is reviewed annually by the City Council for the Capital Project Funds. However, appropriations for major projects are not adopted until the actual bid award of the improvement. The appropriations are not reflected in lire financial statements. 9) The legal level of budgetary control is at the department level for the General Fund and the fund level for the Special Revenue Funds. Monitoring of budgets is maintained at the expenditure category level (i.e., personal services; materials and supplies; contractual services; and capital outlay) within each program. All amounts over budget have been approved by the City Council through the disbursement process. 10) The City Council may authorize transfer of budgeted amounts between City funds. The City Council made supplemental budgetary appropriations throughout fire year. Individual amendments were not material in relation to the original appropriations which were adjusted. The following is a listing of the Special Revenue Fund whose expenditures exceed budget appropriations: Final Ove' I3udget Actual Budget Nonmajor Fund: Special Revenue Fund: Recycling Fund $19,400 $22,303 $2,903 1IRA Fund 162,100 191,608 29,508 F. CASFI AND INVESTMENTS Cash and investment balances from all funds, except the Liquor Fund, are pooled and invested to the extent available in authorized investments. Investment income is allocated to individual funds oil tine basis of the fund's equity in the cash and investment pool. The City provides temporary advances to finds that have insufficient cash balances by means of an advance from another find shown as interfund receivables in tine advancing fund, and an intefund payable in the fund with the deficit, Until adequate resources are received. These interfund balances are eliminated on the government -wide financial statements. U