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1 <br /> ' CITY OF ST. ANTHONY <br /> NOTES TO FINANCIAL STATEMENTS <br /> ' DECEMBER 31 , 1999 <br /> Note 1 . Significant Accounting Policies, continued <br /> B. Fund Accounting, continued <br /> Governmental * Funds <br /> General 'Fund - The General Fund is the primary operating fund of the City. <br /> It is used'to account for all financial resources except those required to <br /> be accounted for in another fund. <br /> Special Revenue Funds - Special Revenue Funds are used to account for the <br /> proceeds of specific revenue sources that are restricted to expenditures <br /> for specified purposes. <br /> 1 Debt Service Funds -. Debt Service Funds are used to account for the accumu- <br /> lation of resources for, and payment of, general long-term debt principal , <br /> interest and related costs. <br /> Capital Project Funds - Capital Project Funds are used to account for the <br /> acquisition or construction of capital facilities and equipment other than <br /> those financed by Proprietary Funds. <br /> Proprietary Funds <br /> ' Enterprise Funds - Enterprise Funds are used to account for operations that <br /> (a) are financed and operated in a manner similar to private business enter- <br /> prises, where the intent is that the costs (expenses,. including depreciation) <br /> of providing goods or services to the general public on-, a continuing basis <br /> ' be financed or recovered primarily through user charges; or (b) where the <br /> governing body has decided that determination of net income (revenues less <br /> expenses) is necessary or useful for financial management, capital mainte- <br /> nance, public policy or other purposes. <br /> Internal Service Fund - The Internal Service Fund accounts for the financing <br /> of goods or services provided by one department to other departments of the <br /> ' City on a cost reimbursement basis. <br /> An account group, is a financial reporting device designed to provide accountability <br /> ' for certain assets and liabilities that are not recorded in funds because they do <br /> not directly affect net expendable available financial' resources. <br /> C. Measurement Focus <br /> All governmental funds are accounted for on a spending or current financial , resources <br /> measurement focus. With this measurement focus, only current assets and current lia- <br /> bilities are generally included on the balance sheet of each fund. Reported fund bal- <br /> ance (net current assets) is considered a measure of "available spendable resources. <br /> Operating statements of these funds present increases (revenues and other financing <br /> ' sources) and decreases (expenditures and other financing uses) in net current assets. <br /> -13- <br />