Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Notes to Basic Financial Statements, Continued
For the fiscal year ended June 30, 2008
Depreciation expense was charged to functions/programs of the primary government as follows:
General government $ 1,189,636
Public safety 2,794,967
General services 12,253,923
Cultural and recreation services 2,743,448
Library 1,341,119
Housing and community development 1,565,011
Capital assets held by the government's internal service funds are
charged to the various functions based on their assets usage 254,249
Total depreciation expense - governmental activities $ 22,142,353
Business-type activities:
Water $ 1,095,289
Solid waste management 9,463
Pier 329,220
Wastewater 6,011,310
Civic auditorium 284,427
Airport 565,300
Stormwater management 284,130
Cemetery 100,525
Big Blue Bus 14,232,445
Special aviation 18,333
Parking authority 32,071
Capital assets held by the government's internal service funds are
charged to the various programs based on their assets usage 2,173,366
Total depreciation expense - business-type activities $ 25,135,879
Note that depreciation expense does not equal amounts shown on enterprise fund statements
because internal service fund amounts relating to business-type activities are included in
functions/programs.
The City’s infrastructure assets are recorded at historical cost in the government-wide statements
as required by GASB 34.
(8) UNEARNED REVENUE
Governmental funds report unearned revenue in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period. Governmental and enterprise
funds also defer revenue recognition in connection with resources that have been received as of yearend,
but not yet earned.
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