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 />
Notes to Basic <strong>Financial</strong> Statements, Continued<br />
For the fiscal year ended June 30, 2009<br />
In governmental funds, fund reservations are presented as a component <strong>of</strong> fund balances as follows:<br />
Special revenue<br />
fund<br />
Special Revenue<br />
Source Fund<br />
Capital projects funds<br />
Downtown<br />
Redevelopment<br />
Project Fund<br />
Earthquake<br />
Recovery<br />
Redevelopment<br />
Fund<br />
Other<br />
governmental<br />
funds<br />
Total<br />
governmental<br />
funds<br />
General Fund<br />
Reserved fund balances<br />
Prepaids and inventory $ 1,681,761 — 344 6,951 12,731 1,701,787<br />
Advances to other funds 21,287,264 — — — 4,989,556 26,276,820<br />
Encumbrances 6,029,153 4,453,081 — — 332,434 10,814,668<br />
Cash liquidity 3,546,996 — — — — 3,546,996<br />
Civic center bonds 1,355,138 — — — — 1,355,138<br />
Notes receivable 2,876,229 12,627,892 1,923,000 716,669 62,156,012 80,299,802<br />
Edison School development fees — 391,800 — — — 391,800<br />
Traffic mitigation 4,655,732 — — — — 4,655,732<br />
Long-term receivable from state — — — — 1,125 1,125<br />
Long-term receivable from FEMA — — — — 10,958 10,958<br />
Rail construction — — — — 3,901,497 3,901,497<br />
Prop A local return capital reserve — — — — 1,546,791 1,546,791<br />
Prop C local return capital reserve — — — — 1,032,177 1,032,177<br />
Low- and moderate-income housing — 1,364,886 — — — 1,364,886<br />
Childcare center — 634,403 — — — 634,403<br />
Parks — 434,454 — — — 434,454<br />
Traffic — 3,164,872 — — — 3,164,872<br />
Arts — 150,000 — — — 150,000<br />
Third Street mall/downtown parking — 6,312,069 — — — 6,312,069<br />
Animal shelter — 21,456 — — — 21,456<br />
Homeless contributions — 11,581 — — — 11,581<br />
Roads — 3,559,299 — — — 3,559,299<br />
<strong>Santa</strong> <strong>Monica</strong> Place redevelopment — 27,985 — — — 27,985<br />
Debt service — — — — 17,932,584 17,932,584<br />
Perpetual care — — — — 7,054,258 7,054,258<br />
Total reserved fund balances $ 41,432,273 33,153,778 1,923,344 723,620 98,970,123 176,203,138<br />
Prepaids and Inventory<br />
Reflects the carrying value <strong>of</strong> these assets. Since these assets are goods or services already purchased,<br />
they do not represent available expendable resources.<br />
Advances to Other Funds<br />
Reflects the balances due, net <strong>of</strong> deferred interest revenues, from other funds that are long-term in<br />
nature and do not represent available expendable resources <strong>of</strong> the <strong>City</strong>.<br />
Encumbrances<br />
Encumbrances outstanding at year-end are reported as reservations <strong>of</strong> fund balances since they do not<br />
constitute expenditures or liabilities.<br />
Cash Liquidity<br />
The <strong>City</strong>’s Charter provides for a cash liquidity reserve to assure the payment <strong>of</strong> the operating expenses<br />
<strong>of</strong> the <strong>City</strong> on a cash basis.<br />
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