Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Changes in Fund Balance of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
TABLE 4
(continues from previous page)
2007-08 2006-07 2005-06 2004-05 2003-04 2002-03 2001-02 2000-01 1999-00 1998-99
Excess (deficiency) of revenues
over (under) expenditures (44,503,339) 109,672,330 10,215,325 (14,504,895) 65,529,179 (6,791,975) 7,867,496 34,348,560 (37,179,383) 31,879,749
140
Other financing sources (uses)
Transfers in 46,495,411 24,721,684 24,782,699 30,368,084 23,047,929 22,831,619 23,170,931 16,055,582 13,218,417 9,275,348
Transfers out (49,574,857) (33,998,086) (33,501,106) (35,493,072) (32,456,665) (25,790,988) (50,768,690) (18,775,559) (16,643,144) (11,956,570)
Refunding bonds issued — — 64,720,000 — — — 25,350,000 — — —
Bonds issued — — — 38,930,000 — 25,000,000 27,395,000 — 76,438,433 —
Premium on bonds issued — — 55,653 163,064 — 80,000 45,805 — 1,184,815 —
Discount on bonds issued — — (187,264) — — — (405,760) — — —
Payments to refunded bond escrow agent — — (63,213,909) — — — (27,883,554) — — —
Capital leases — — — — — — — 2,231,362 — 589,143
Total other financing sources (uses) (3,079,446) (9,276,402) (7,343,927) 33,968,076 (9,408,736) 22,120,631 (3,096,268) (488,615) 74,198,521 (2,092,079)
Adjustment to reclassify LT advances from the city — — — — — — — — — (20,878,524)
Residual equity transfer in — — — — — — — 6,622,229 255,393 7,386,798
Residual equity transfer out — — — — — — — (7,022,229) (5,722,660) (3,299,943)
Net change in fund balance $ (47,582,785) 100,395,928 2,871,398 19,463,181 56,120,443 15,328,656 4,771,228 33,459,945 31,551,871 12,996,001
Debt service as a percentage of noncapital
expenditures 4.52% 5.51% 6.59% 6.50% 6.27% 4.37% 5.16% 4.31% 1.72% 2.73%
(1) Retirement costs allocated to program areas beginning in FY 2004-05.
(2) Statutory pass throughs included in housing and community development beginning FY 2003-04.
(3) Capital outlay included in expenditures beginning in FY 2004-05.
(4) Rental income included in investment income for FY 2001-02.