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 />
Statement <strong>of</strong> Revenues, Expenses and<br />
Changes in Fund Net Assets<br />
Proprietary Funds<br />
For the fiscal year ended June 30, 2009<br />
30<br />
Total<br />
Nonmajor Total internal<br />
Big Blue enterprise enterprise service<br />
Wastewater Bus funds funds funds<br />
Operating revenues - charges for services $ 13,751,588 14,391,300 50,933,042 79,075,930 26,073,590<br />
Operating expenses:<br />
Personnel services 1,970,012 34,697,975 18,958,109 55,626,096 3,896,852<br />
Administrative indirect 562,612 3,176,753 3,513,662 7,253,027 507,955<br />
Contractual services 2,426,223 3,434,835 7,334,404 13,195,462 55,490<br />
Repairs and maintenance 1,013,385 1,180,646 3,511,022 5,705,053 1,825,465<br />
Materials and supplies 877,147 6,233,283 8,139,097 15,249,527 2,374,745<br />
Utilities 14,729 423,084 1,131,176 1,568,989 82,708<br />
Water purchases — — 3,501,575 3,501,575 —<br />
Casualty, property and liability costs 168,800 1,880,274 1,093,500 3,142,574 52,700<br />
Claims expense, net <strong>of</strong> claims reserve<br />
adjustments — — — — 11,720,600<br />
Insurance and bonds — — — — 3,058,131<br />
Miscellaneous fees and costs — — — — 1,006,447<br />
Administrative fees and costs — — — — 219,762<br />
Depreciation 6,130,488 17,351,484 2,911,260 26,393,232 2,812,617<br />
Other 5,273,273 532,901 3,571,019 9,377,193 —<br />
Total operating expenses 18,436,669 68,911,235 53,664,824 141,012,728 27,613,472<br />
Operating income (loss) (4,685,081) (54,519,935) (2,731,782) (61,936,798) (1,539,882)<br />
Nonoperating revenues (expenses):<br />
Sales tax proceeds — 34,203,607 — 34,203,607 —<br />
Investment income 862,458 574,709 1,792,082 3,229,249 2,294,526<br />
Interest expense (1,214,959) — (520,474) (1,735,433) —<br />
Gain (loss) on disposal <strong>of</strong> capital assets — (9,203) (312,298) (321,501) 6,902<br />
Other 339,144 2,408,942 1,367,784 4,115,870 73,607<br />
Total nonoperating revenues (expenses) (13,357) 37,178,055 2,327,094 39,491,792 2,375,035<br />
Income(loss) before capital<br />
contributions and transfers (4,698,438) (17,341,880) (404,688) (22,445,006) 835,153<br />
Capital contributions — 53,209,039 — 53,209,039 —<br />
Transfers in (note 11) 7,237,304 538,597 8,244,511 16,020,412 691,800<br />
Transfers out (note 11) (833,700) (387,300) (8,692,395) (9,913,395) (691,800)<br />
Change in net assets 1,705,166 36,018,456 (852,572) 36,871,050 835,153<br />
Net assets at beginning <strong>of</strong> year 186,981,726 180,734,024 89,387,881 457,103,631 53,725,988<br />
Net assets at end <strong>of</strong> year $ 188,686,892 216,752,480 88,535,309 493,974,681 54,561,141<br />
$ 36,871,050 Change in net assets<br />
(974,363) Net adjustment to reflect the consolidation<br />
<strong>of</strong> internal service fund activities related to<br />
See accompanying notes to basic financial statements. enterprise funds<br />
$ 35,896,687 Change in net assets <strong>of</strong> business-type activities