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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2015 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 the 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 the year. Individual amendments were not material in relation to the original appropriations which were adjusted. The following is a listing of the General Fund departments and Special Revenue Funds whose expenditures exceed budget appropriations: Final Over Budget Actual Budget Major Fund: General Fund Elections $19,672 $23,187 $3,515 Legal 110,750 135,029 24,279 Civil defense 65,227 66,227 1,000 Protective inspections 81,143 123,254 42,111 Nonmajor Funds: Special Revenue Funds: Police forfeiture 6,500 11,108 4,608 Recycling fund 16,468 18,793 2,325 Fire education/training 2,277 2,463 186 F. CASH AND INVESTMENTS Cash and investment balances from all funds are pooled and invested to the extent available in authorized investments. Investment income is allocated to individual funds on the basis of the fund's equity in the cash and investment pool. The City provides temporary advances to funds that have insufficient cash balances by means of an advance from another fund shown as interfund receivables in the advancing fund, and an interfund payable in the fund with the deficit, until adequate resources are received. These interfund balances are eliminated on the government-wide financial statements. Investments are stated at fair value, based upon quoted market prices, except for investments in 2a7- like external investment pools, which are stated at amortized cost. Investment income is accrued at the balance sheet date. 45