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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2018 The Street Improvement Project Fund was established to account for the construction costs associated with a systematic plan to reconstruct substandard residential streets and alleys. The Public Utilities Infrastructure Fund was established to account for costs associated with the City’s utilities infrastructure. The City reports the following major proprietary funds: The Liquor Fund is an enterprise fund that is used to account for operations of the City’s off-sale liquor operation. The Water/Sewer/Water Plant Fund accounts for the water and sewer service charges which are used to finance the water and sewer system operating expenses, and the operation and maintenance of the City’s water purification plant. The Stormwater Utility Fund accounts for stormwater service charges which are used to finance the construction and operation of the stormwater and flood protection projects. Additionally, the City reports the following fund types: Internal Service Fund - the Employee Benefit Fund accounts for the liability the City has for employee vacation and severance payments, and is also used to provide pension benefits and other post employment benefits to other departments of the City on a cost reimbursement basis. Agency Fund - the Developers Deposit Fund accounts for costs incurred by the City for the review of various land use permits requested by developers and subsequent owners. The City requires the developer or owner to pay the costs associated with the permitting process. The City collects an initial deposit and bills any overages as needed. As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are transactions that would be treated as revenues, expenditures or expenses if they involved external organizations, such as buying goods and services or payments in lieu of taxes, are similarly treated when they involve other funds of the City. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the liquor, water and sewer enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. When both restricted and unrestricted resources are available for an allowable use, it is the City’s policy to use restricted resources first, then unrestricted resources as they are needed. 43