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
(13) RESERVED AND DESIGNATED FUND BALANCES
In the fund financial statements, reserves and designations segregate portions of fund balances that are
either not available or have been earmarked for specific purposes. The various reserves and
designations are established by actions of the City Council and Management and can be increased,
reduced or eliminated by similar actions.
In governmental funds, fund reservations are presented as a component of fund balances as follows:
Special revenue
fund
Special Revenue
Source Fund
Capital projects funds
Downtown
Redevelopment
Project Fund
Earthquake
Recovery
Redevelopment
Fund
Other
governmental
funds
Total
governmental
funds
General Fund
Reserved fund balances
Prepaids and inventory $ 1,794,342 — — — 10,556 1,804,898
Advances to other funds 20,712,556 — — 6,500,000 4,989,556 32,202,112
Encumbrances 3,560,777 18,946 — — 227,801 3,807,524
Cash liquidity 3,546,996 — — — — 3,546,996
Civic center bonds 2,725,992 — — — — 2,725,992
Notes receivable 2,916,229 10,124,763 1,923,000 716,669 47,022,324 62,702,985
Specific continuing capital projects 41,242,835 19,727,496 1,625,399 29,622,773 47,855,645 140,074,148
Mall assessment district 42,931 — — — — 42,931
Traffic mitigation 4,514,142 — — — — 4,514,142
Long-term receivable from state — — — — 1,125 1,125
Long-term receivable from FEMA — — — — 4,133,189 4,133,189
Rail construction — — — — 3,524,899 3,524,899
Low- and moderate-income housing — 1,886,182 — — — 1,886,182
Childcare center — 614,300 — — — 614,300
Parks — 424,801 — — — 424,801
Traffic — 2,263,740 — — — 2,263,740
Arts — 60,000 — — — 60,000
Third Street mall/downtown parking — 5,763,191 — — — 5,763,191
Animal shelter — 21,456 — — — 21,456
Homeless contributions — 71,118 — — — 71,118
Roads — 2,052,406 — — — 2,052,406
Santa Monica Place redevelopment — 27,985 — — — 27,985
Debt service — — — — 18,953,165 18,953,165
Perpetual care — — — — 7,726,238 7,726,238
Total reserved fund balances $ 81,056,800 43,056,384 3,548,399 36,839,442 134,444,498 298,945,523
Prepaids and Inventory
Reflects the carrying value of these assets. Since these assets are goods or services already purchased,
they do not represent available expendable resources.
Advances to Other Funds
Reflects the balances due, net of deferred interest revenues, from other funds that are long-term in
nature and do not represent available expendable resources of the City.
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