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Both of the government-wide financial statements distinguish functions of the City of St. Anthony, Minnesota that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City of St. Anthony, Minnesota include general government, public safety, public works, parks and recreation, services to other cities and HRA activities. The business- type activities of the City of St. Anthony, Minnesota include the operation of water and sewer utilities and the municipal off-sale liquor stores. The government-wide financial statements include not only the City of St. Anthony, Minnesota itself (known as the primary government), but also a legally separate Housing and Redevelopment Authority (HRA) for which the City of St. Anthony, Minnesota is financially accountable. The HRA functions for all practical purposes as a department of the City of St. Anthony, Minnesota, and therefore has been included as an integral part of the primary government. The government-wide financial statements can be found on Statements 1 and 2 of this report. Fund financial statements. A fund is a grouping of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The City of St. Anthony, Minnesota, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City of St. Anthony, Minnesota can be divided into two categories: governmental funds and proprietary funds. Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a City’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City of St. Anthony, Minnesota maintains 18 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balance for the General, Street Improvement Debt Service, HRA TIF Debt Service, HRA TIF Improvements, Street Improvement Projects and Public Utilities Infrastructure, all of which are considered to be major funds. Data from the other 18 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining and sub-combining statements and schedules elsewhere in this report. 16