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
Net assets for governmental activities at June 30, 2009, are restricted as follows:
Housing Authority $ 2,744,519
Tenant Ownership Rights Charter Amendment 16,095,044
Community Development Block Grant 12,770,280
Citizens Option for Public Safety 248,704
Rent Control 1,843,594
Air Quality Management District 261,849
Asset Seizure 498,740
Streets projects 769,104
Low- and moderate-income housing 45,391,752
Total housing and community development 80,623,586
Clean Beaches and Ocean Parcel Tax 3,883,155
Miscellaneous grants 21,024,279
Debt service 17,932,584
Development projects 42,867,711
Perpetual care - nonexpendable 7,054,258
MTBE Settlement 13,718,258
Total restricted net assets $ 187,103,831
Of the net assets for business-type activities at June 30, 2009 totaling $531,886,681, $1,661,758 is
restricted for construction of a rail system, and $7,083,361 is restricted for Prop 1B.
(13) RESERVED AND DESIGNATED FUND BALANCES
In the fund financial statements, reserves and designations segregate portions of fund balances that are
either not available or have been earmarked for specific purposes. The various reserves and
designations are established by actions of the City Council and Management and can be increased,
reduced or eliminated by similar actions.
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