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CITY OF PEQUOT LAKES <br /> Fund Balance Discussion <br /> i III <br /> January 3,2006 <br /> Background <br /> Doug Host,Audit Manager <br /> LarsonAllen <br /> • 14 years government audit experience(cities and <br /> counties). <br /> 2nd year auditing City of Pequot Lakes. <br /> • 2005 is finished so let's consider the City s fund <br /> balance position. <br /> 6wbm.., I <br /> Fund Balance Classifications <br /> • Reserved <br /> - Legally restricted by an outside source. <br /> • Designated <br /> - Internally designated for a particular use. <br /> • Unreserved,Undesignated <br /> - Everything else(legislature and others are <br /> very interested in this portion). <br /> Note: Only applies to governmental funds <br /> 1 <br />