Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Statement of Activities
For the fiscal year ended June 30, 2008
16
Program revenues
Net (expense) revenue and changes in net assets
Operating Capital
Charges for grants and grants and Governmental Business–type
Functions/programs Expenses services contributions contributions activities activities Total
Governmental activities:
General government $ 38,849,626 17,188,876 56,343 58,902 (21,545,505) — (21,545,505)
Public safety 91,862,403 17,298,741 1,327,128 2,112 (73,234,422) — (73,234,422)
General services 111,168,586 19,650,237 12,309,867 41,667 (79,166,815) — (79,166,815)
Cultural and recreation services 33,776,210 9,492,174 2,278,222 4,759,706 (17,246,108) — (17,246,108)
Library 11,458,259 363,987 160,623 — (10,933,649) — (10,933,649)
Housing and community development 91,966,369 14,430,326 18,671,472 — (58,864,571) — (58,864,571)
Interest on long-term debt 7,628,437 — — — (7,628,437) — (7,628,437)
Total governmental activities $ 386,709,890 78,424,341 34,803,655 4,862,387 (268,619,507) — (268,619,507)
Business–type activities:
Water $ 15,489,230 16,130,044 — — — 640,814 640,814
Solid waste management 16,277,710 18,842,702 — — — 2,564,992 2,564,992
Pier 4,867,415 3,107,349 — — — (1,760,066) (1,760,066)
Wastewater 20,063,420 12,797,786 1,723 — — (7,263,911) (7,263,911)
Civic auditorium 3,718,652 3,117,033 — — — (601,619) (601,619)
Airport 5,199,701 4,279,268 — — — (920,433) (920,433)
Storm water management 474,683 1,301,350 — — — 826,667 826,667
Cemetery 1,715,605 1,080,532 — — — (635,073) (635,073)
Big Blue Bus 65,185,007 13,898,980 32,186,846 20,030,403 — 931,222 931,222
Special aviation 18,333 — — — — (18,333) (18,333)
Parking authority 349,576 145,600 — — — (203,976) (203,976)
Total business–type activities $ 133,359,332 74,700,644 32,188,569 20,030,403 — (6,439,716) (6,439,716)
General revenues:
Taxes:
Business $ 26,211,226
— 26,211,226
Property 101,323,706 — 101,323,706
Sales 32,356,941 — 32,356,941
Transient occupancy 34,969,063 — 34,969,063
Utility users 31,621,621 — 31,621,621
Real property transfer 4,739,502 — 4,739,502
Parking facility tax 7,826,257 — 7,826,257
Other 2,605,760 — 2,605,760
Settlement income 1,012,863 — 1,012,863
Motor vehicle in lieu 390,244 — 390,244
Other income 8,038,022 3,421,837 11,459,859
Investment earnings 22,021,977 4,489,611 26,511,588
Transfers (2,815,040) 2,815,040 —
Total general revenues and transfers 270,302,142 10,726,488 281,028,630
Change in net assets 1,682,635 4,286,772 5,969,407
Net assets, beginning, as restated (note 4) 1,014,008,964 491,703,222 1,505,712,186
Net assets, ending $ 1,015,691,599 495,989,994 1,511,681,593
See accompanying notes to basic financial statements.