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City of San Leandro <br />Index to Notes to Basic Financial Statements <br />For the year ended June 30, 2012 <br /> <br /> <br />43 <br />NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES ........................................................................................ 47 <br /> <br /> A. Financial Reporting Entity ............................................................................................................................. 47 <br /> B. Government-Wide Financial Statements ....................................................................................................... 48 <br /> C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation ....................................... 48 <br /> D. Recognition of Interest Liability .................................................................................................................... 50 <br /> E. Use of Restricted and Unrestricted Net Assets .............................................................................................. 50 <br /> F. Cash, Cash Equivalents and Investments ....................................................................................................... 50 <br /> G. Inventory ........................................................................................................................................................ 51 <br /> H. Capital Assets ................................................................................................................................................. 51 <br /> I. Long-Term Debt ............................................................................................................................................. 52 <br /> J. Compensated Absences .................................................................................................................................. 52 <br /> K. Property Taxes ............................................................................................................................................... 52 <br /> L. Use of Estimates ............................................................................................................................................. 52 <br /> M. New Funds, Renamed Funds, and Closed Funds ........................................................................................... 52 <br /> N. Implementation of New GASB Pronouncements .......................................................................................... 53 <br /> <br />NOTE 2 - CASH AND INVESTMENTS................................................................................................................. 53 <br /> <br /> A. Cash Deposits ................................................................................................................................................. 53 <br /> B. Investments ..................................................................................................................................................... 54 <br /> C. Summary of Cash and Investments ................................................................................................................ 58 <br /> <br />NOTE 3 – LOANS RECEIVABLE ......................................................................................................................... 59 <br /> <br />NOTE 4 - NOTES RECEIVABLE .......................................................................................................................... 60 <br /> <br />NOTE 5 - INTERFUND TRANSACTIONS ........................................................................................................... 60 <br /> <br /> A. Fund Financial Statements – Interfund Receivables and Payables ................................................................ 60 <br /> B. Fund Financial Statements – Long Term Advances ...................................................................................... 60 <br /> C. Fund Financial Statements – Due from Successor Agency ........................................................................... 61 <br /> D. Fund Financial Statements – Transfers .......................................................................................................... 61 <br /> E. Fund Financial Statements – Internal Balances ............................................................................................. 62 <br /> <br />NOTE 6 – CAPITAL ASSETS ................................................................................................................................. 62 <br /> <br /> A. Government-Wide Financial Statements ....................................................................................................... 62 <br /> B. Fund Financial Statements ............................................................................................................................. 65 <br /> <br />NOTE 7 - LONG-TERM DEBT OBLIGATIONS ................................................................................................. 65 <br /> <br /> A. Governmental Activities Long-Term Debt .................................................................................................... 65 <br /> B. Long-Term Debt of Business-Type and Proprietary Funds ........................................................................... 74 <br /> C. Debt Covenants and Restrictions ................................................................................................................... 75 <br />