1985 Adopted Budget - Laserfiche WebLink

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The City provides a variety of municipal services. These include police protection, street maintenance, animal control, public improvements, building inspection, planning and zoning, and general administrative services. The City contracts for fire protection from the neighboring cities of Anoka, on the southern border, and Elk River, on the western border, OLODizatio The City is run by a Mayor/Council form of government. The Council, which consists of the Mayor and four Councilmembers, is elected at large and on a non -partisan basis. Elections are held in November of each even -numbered year. The terms of office are two years for the Mayor, and four years for Councilmembers, but not more than two Councilmember's terms expire in any one year. The City Council is responsible for enacting ordinances, resolutions; and regulations governing the City, and appointing the City Administrator, City Engineer, City Attorney and members of various advisory boards. ;,k4 P.- 440 The city's accounting system is organized and operated on a fund basis. Each fund (or account group) is a distinct self -balancing accounting entity. The various funds and account groups utilized by the City are described below. The modified accrual basis of accounting is followed for the governmental and expendable trust funds. Under this method of accounting, revenues are recognized when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay current liabilities. Expenditures, other than interest on long-term debt, are recorded as liabilities when incurred. GOVERNMENTAL FUNDS: The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes including current operating expenses and/or capital outlay. The Revenue Sharing Fund accounts for all revenue sharing entitlements received and any interest earned. As these funds are used a transfer is made to the fund showing the expenditure. Council policy has been to use federal revenue sharing entitlements for capital outlay expenditures only, and not rely on this revenue source for current operating expenditures. In the past this fund has provided financing support for capital improvement expenditures in the General and Parks funds. -5-