Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
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CITY OF SANTA MONICA, CALIFORNIA<br />
Management’s Discussion and Analysis, Continued<br />
Year ended June 30, 2009<br />
A summary <strong>of</strong> the government-wide statement <strong>of</strong> changes in net assets follows:<br />
CITY OF SANTA MONICA<br />
Changes in Net Assets<br />
(in millions)<br />
Governmental activities Business-type activities Total<br />
2008-09 2007-08 2008-09 2007-08 2008-09 2007-08<br />
Revenues<br />
Program revenues:<br />
Charges for services $ 80.0 78.4 79.1 74.7 159.1 153.1<br />
Operating grants and contributions 30.2 34.8 34.2 32.2 64.4 67.0<br />
Capital grants and contributions 20.4 4.9 53.2 20.0 73.6 24.9<br />
General revenues:<br />
Sales tax 28.3 32.4 - - 28.3 32.4<br />
Property tax 107.3 101.3 - - 107.3 101.3<br />
Other taxes 105.0 108.4 - - 105.0 108.4<br />
Settlement income 89.9 1.0 - - 89.9 1.0<br />
Investment earnings 16.2 22.0 4.2 4.5 20.4 26.5<br />
Other general revenues 8.9 8.0 4.2 3.4 13.1 11.4<br />
Total revenues 486.2 391.2 174.9 134.8 661.1 526.0<br />
Expenses<br />
General government 46.7 38.8 - - 46.7 38.8<br />
Public safety 100.7 91.9 - - 100.7 91.9<br />
General services 161.2 111.2 - - 161.2 111.2<br />
Cultural and recreation 44.0 33.8 - - 44.0 33.8<br />
Library 11.4 11.4 - - 11.4 11.4<br />
Housing and community<br />
development 115.8 92.0 - - 115.8 92.0<br />
Interest on long term debt 7.3 7.6 - - 7.3 7.6<br />
Water - - 16.0 15.5 16.0 15.5<br />
Solid waste management - - 19.2 16.3 19.2 16.3<br />
Pier - - 5.2 4.9 5.2 4.9<br />
Wastewater - - 19.6 20.1 19.6 20.1<br />
Civic auditorium - - 3.9 3.7 3.9 3.7<br />
Airport - - 5.7 5.2 5.7 5.2<br />
Storm water management - - 0.7 0.4 0.7 0.4<br />
Cemetery - - 2.0 1.7 2.0 1.7<br />
Big Blue Bus - - 70.9 65.2 70.9 65.2<br />
Parking authority - - 1.6 0.3 1.6 0.3<br />
Total expenses 487.1 386.7 144.8 133.3 631.9 520.0<br />
Excess (deficiency) <strong>of</strong> revenues<br />
over expenses before transfers (0.9) 4.5 30.1 1.5 29.2 6.0<br />
Transfers (5.8) (2.8) 5.8 2.8 - -<br />
Increase (decrease) in net assets (6.7) 1.7 35.9 4.3 29.2 6.0<br />
Beginning net assets as restated 1,015.7 1,014.0 496.0 491.7 1,511.7 1,505.7<br />
Ending net assets $ 1,009.0 1,015.7 531.9 496.0 1,540.9 1,511.7<br />
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