2016 CAFR - Laserfiche WebLink

Home Browse Search

The City of St. Anthony, Minnesota adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on Statements 3 through 5 of this report. Proprietary funds. The City of St. Anthony, Minnesota maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business- type activities in the government-wide financial statements. The City of St. Anthony, Minnesota uses enterprise funds to account for its water and sewer and municipal liquor operations. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City of St. Anthony, Minnesota’s various functions. The City of St. Anthony, Minnesota uses an internal service fund to account for its compensated absences and pension benefits. Because these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the water and sewer and municipal liquor operations, which are considered to be major funds of the City of St. Anthony, Minnesota. The basic proprietary fund financial statements can be found on Statements 6 through 8 of this report. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found following Statement 9 of this report. The combining statements referred to earlier in connection with non-major governmental funds are presented immediately following the required supplementary information on budgetary comparisons. Combining and individual fund statements and schedules can be found on Statements 18 through 25 of this report. Government-wide Financial Analysis As noted earlier, net position may serve over time as a useful indicator of a City’s financial position. In the case of the City of St. Anthony, Minnesota, assets exceeded liabilities by $35,402,281 at the close of the most recent fiscal year. 17