Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2009
18
Capital projects
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 $ 173,012,780 134,646,791 2,584,251 59,462,011 71,041,321 440,747,154
Receivables (net, where applicable, of allowances for uncollectibles):
Accounts 6,804,986 292,487 — — 2,022,961 9,120,434
Notes 2,876,229 12,627,892 1,923,000 716,669 62,156,012 80,299,802
Property taxes 1,197,298 — 97,373 2,644,537 1,288,317 5,227,525
Interest 1,033,694 340,959 20,223 364,435 397,704 2,157,015
Other governments — — — — 7,232,423 7,232,423
Due from other funds (note 11) 1,376,554 — — — — 1,376,554
Inventory 1,381,715 — — — — 1,381,715
Prepaids 300,046 — 344 6,951 12,731 320,072
Cash with fiscal agent 1,355,138 — — — 25,616,252 26,971,390
Advances to other funds (note 11) 36,409,663 — — — 10,049,958 46,459,621
Total assets $ 225,748,103 147,908,129 4,625,191 63,194,603 179,817,679 621,293,705
Liabilities and Fund Balances
Liabilities:
Accounts payable $ 5,779,880
1,598,668 — 536,380 2,324,783 10,239,711
Accrued liabilities 5,376,913 — — 5,071 209,933 5,591,917
Contracts payable (retained percentage) 515,899 187,579 — 977,981 792,773 2,474,232
Due to other governments 996,991 — — 4,737,157 — 5,734,148
Deferred revenue 15,727,952 94,191,645 — — 12,359,595 122,279,192
Deposits 396,238 — — — 66,966 463,204
Advances from other funds (note 11) — — 19,969,705 3,465,452 10,427,479 33,862,636
Total liabilities 28,793,873 95,977,892 19,969,705 9,722,041 26,181,529 180,645,040
Fund balances (deficit):
Reserved (note 13) 41,432,273 33,153,778 1,923,344 723,620 98,970,123 176,203,138
Unreserved - designated reported in:
General Fund 147,861,391 — — — — 147,861,391
Special revenue funds — 18,776,459 — — 11,814,351 30,590,810
Capital projects funds — — — 45,530,778 32,181,784 77,712,562
Unreserved - undesignated reported in:
General Fund 7,660,566 — — — — 7,660,566
Special revenue funds — — — — 12,311,620 12,311,620
Capital projects funds — — (17,267,858) 7,218,164 (1,641,728) (11,691,422)
Total fund balances (deficit) 196,954,230 51,930,237 (15,344,514) 53,472,562 153,636,150 440,648,665
Total liabilities and fund balances $ 225,748,103 147,908,129 4,625,191 63,194,603 179,817,679 621,293,705
Fund balances - total governmental funds $ 440,648,665
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 722,841,322
(2) Bond issue costs to be amortized over the life of the debt 2,575,274
(3) Long-term liabilities are not due and payable in the current period and therefore are not reported in the balance sheet (280,038,206)
(4) 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 106,337,103
(5) Internal service funds are used by management to charge the costs of vehicle management, information technology and
risk management to individual funds. The assets and liabilities of the information technology and risk
management (excluding 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 16,649,141
Net assets of governmental activities $ 1,009,013,299