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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />CITY OF ORONO, MTNNESOTA <br />Notes to Financial Statements (continued) <br />December 31, 1994 <br />NOTE I - SIGNinCANT ACCOUNTING POLICIES (CONTINUED) <br />The expenditure budget amendments in the Special Revenue Funds were tor the following purposes: <br />" Park Fund - The budget was increased to provide for a suA'ey and abstract, baseball <br />improvements at Bederwood Park, wild life blinds and picnic table at the French Creek Preserve, <br />and to provide for a transfer to purchase land at the French Creek Preserve. <br />° Improvement and Equipment Capital Outlay Fund - The budget was increased to provide for <br />two personal computers for the finance department. <br />® Building Capital Outlay Fund - The budget was increased to provide for the demolition of the <br />old Council chambers, clean-up of contaminated soils at the old public works site, and for <br />miscellaneous equipment and construction costs related to the 1991 public facilities capital <br />project. <br />M.Memorandum Only Columns <br />Becau.se the accounting system is organized and operated on a fund basis, the columns on the combined <br />financial statements captioned, "Totals (.Memorandum Only)," are presented for informational purposes <br />only and arc not intended to represent consolidated information Data in these columns does not present <br />financial position, results of operations, or cash flows in conformity with generally accepted accounting <br />principles. Interfund eliminations have not been made in the aggregation of this data. <br />N.Comparative Data <br />Comparative total data for the prior year has been presented in the acciimpanying financial statements in <br />order to provide an understanding of changes in the City's financial position and operations. However, <br />comparative data has not been presented in all statements because its inclusion would make certain <br />statements unduly complex and difficult to understand. <br />O.Statement of Cash Flows <br />For purposes of the Statement of Cash Flows, the City considers all highly liquid debt instruments with <br />an original maturity from the time t)f purcha.se by the City of three months or less to be cash equivalents. <br />The Proprietary Funds' portion in the Citywide cash and investment management pool is considered to <br />be cash equivalent. <br />-38-