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, 2009
A net deficit in the amount of $319,048 exists in the Airport Fund due to reductions in revenue and
increased expenses compared to previous years. The deficit is expected to be funded by increased future
fees.
Internal Service Fund. A fund deficit balance in the amount of $914,648 exists in the Self-Insurance
Bus Fund due to an increase in claims expense. The deficit is expected to be funded by increased
contributions.
(11) INTERFUND TRANSACTIONS
The following tables summarize the due to/from other funds, inter-fund advances to/from, and transfers
in/out at June 30, 2009.
Due to/from
Due to/from other funds at June 30, 2009 are as follows:
Due from
Due to
(receivable fund) (payable fund) Amount
General Fund Non-major enterprise funds $ 1,376,554
Total due to/from $ 1,376,554
Due to/from other funds are short term loans made to eliminate negative cash balances at year end. The
balances are expected to be repaid within one year.
Advances to/from
Advances to/from other funds at June 30, 2009 are as follows:
Advances to
Advances from
(receivable fund) (payable fund) Amount
General Fund Downtown Redevelopment Project Fund $ 19,969,705
Non-major governmental funds 3,842,973
Non-major enterprise funds 12,596,985
Total General Fund 36,409,663
Non-major governmental funds Earthquake Redevelopment Fund 3,465,452
Non-major governmental funds Non-major governmental funds 6,584,506
Wastewater Fund Non-major enterprise funds 88,875
Total advances to/from $ 46,548,496
Advances represent loans made to provide financing resources for capital projects. These amounts are
expected to be repaid in future years, subject to the various loan terms. None of the above balances are
expected to be repaid within one year.
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