Comprehensive Annual Financial Report - City of Santa Monica

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