Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2008
18
Capital p projectsp j
funds
Earthquake
Special Revenue Downtown Recovery Nonmajor Total
General Source Redevelopment Redevelopment governmental governmental
Assets Fund Fund Project Fund Project Fund funds funds
Cash and investments $ 124,459,829459 194,407,246407 2,370,121 45,849,132 77,072,704 704 444,159,032
Receivables (net, where h applicable, of f allowances for uncollectibles):
)
Accounts 7,301,931 — 15,073 — 252,367 7,569,371
Notes 2,916,229 10,124,763 1,923,000 716,669 47,022,323 62,702,984
Property taxes 1,038,841 841 — 49,580 3,121,932 1,062,250 250 5,272,603
Interest e t 1,456,881 539,263 29,874 646,866 609,127 3,282,011
Other governments — — — — 14,513,046 14,513,046
Due from other funds 3,402,840 , — — — — 3,402,840
,
Inventory 938,999999 — — — — 938,999999
Prepaids 855,343 — — — 10,556 865,899899
Cash with fiscal agent 2,725,992 — — — 27,329,553 30,055,545055 545
Capitalized lease receivable — — 1,120,000 , — — 1,120,000
,
Advances to other funds (note 11) 35,105,966 — — 6,500,000 9,836,527 51,442,493
Total assets $ 180,202,851
851
205,071,272071 272 5,507,648507 56,834,599 599 177,708,453708 625,324,823
Liabilities i and Fund Balances
Liabilities:
Accounts payable $ 5,829,213
213
320,793 22,985 1,272,100 100 4,297,907 907 11,742,998
Accrued liabilities 6,464,321 — — — 162,247247 6,626,568626 Short-term t loan payable (note 17) — — — — 400,000000 400,000000
Contracts py payable (retained percentage) g)
473,755 66,517 — 571,651 752,687 1,864,610
Due to other funds — — — — 3,402,840 3,402,840
Due to other governments 438,629 — 6,558 3,414,730 — 3,859,917
917
Df Deferred revenue 17,440,343 98,621,383 1,120,000120 000 — 13,702,326 326 130,884,052
052
Deposits 754,711 — — — 45,971 800,682
Advances from other funds (note 11) — — 19,409,014 , 3,465,452 , 16,728,370 , 39,602,836
,
Total liabilities 31,400,972 99,008,693 20,558,557 557 8,723,933 39,492,348 348 199,184,503184 Fund balances (deficit):
Reserved (note 13) 81,056,800 800 43,056,384 384 3,548,399 399 36,839,442 134,444,498444 498 298,945,523945 523
Unreserved - designated g reported in:
General Fund 62,572,543 — — — — 62,572,543
Special revenue funds — 7,806,131 — — 1,764,093 9,570,224
Unreserved - undesignated tdreported tdin:
General Fund 5,172,536 — — — — 5,172,536
Special revenue funds — 55,200,064 — — 2,596,767 57,796,831
Capital projects funds — — (18,599,308) 11,271,224 224 (589,253) (7,917,337)
Total fund balances (deficit) it) 148,801,879801 879 106,062,579062 (15,050,909) 48,110,666 138,216,105 105 426,140,320
Total l liabilities i and d fund d balancesl $ 180,202,851 205,071,272 5,507,648 56,834,599 177,708,453 625,324,823
Fund balances - total governmental funds $
426,140,320
Amounts reported for governmental activities in the statement of net assets are different because (Note 3):
(1) Capital assets used in governmental activities are not current financial resources and therefore are not reported in the balance sheet 724,319,157
,
(2) The interfund capitalized lease receivable is recorded on the balance sheet but eliminated on the statement of net assets (1,120,000) 120 000)
(3) Bond issue costs to be amortized over the life of the debt 2,740,432
432
(4) Long-term liabilities i are not due and d payable in the h current period i d and d therefore h f are not reported d in the h balance l sheet h (178,532,144) 8 144)
(5) Other long-term assets are not available to pay for current period expenditures and, , therefore, , are deferred in the
funds and recognized as revenue in the statement of activities 27,304,208
208
(6) Internal service funds are used by management to charge the costs of vehicle management, information technology and
risk i k management t to individual id l funds. d The assets t and d liabilities of f the information f technology h l and d riski k
management g (excluding g bus) ) internal service funds are included in the governmental activities in the statement of net assets
The assets and liabilities of internal service funds are included in the statement of net assets 14,839,626
Net t assets t of f governmental t l activities iti $ 1,015,691,599
599