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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2013 <br />NOTE 1- SIGNIFICANT ACCOUNTING POLICIES (Continued) <br />Sales taxes, property taxes, licenses, and interest associated within the current period are all considered to <br />be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the <br />portion of special assessment receivable due within the current fiscal period is considered to be <br />susceptible to accrual as revenue of the current period. All other revenue items are considered to be <br />measurable and available only when cash is received by the City. <br />The City reports the following major governmental funds: <br />The General Fund is the government's primary operating fund. It accounts for all financial <br />resources of the general government, except those required to be accounted for in another fund. <br />The Affordable Housing Asset Fund accounts for the low to moderate housing and neighborhood <br />improvement program. <br />The Reconciliation of the Fund Financial Statements to the Government -Wide Financial Statements is <br />provided to explain the differences created by the integrated approach of GASB Statement No. 34. <br />The City also reports the following major proprietary funds: <br />Water Pollution Control Plant Fund accounts for the City's sewers which protect public health <br />and preserve water quality. <br />Shoreline Fund accounts for various recreational facilities which include golf and marina berthing <br />as well as providing food service facilities for the general public in an area connected to the San <br />Francisco Bay. <br />A separate column representing internal service funds is also presented in these statements. However, <br />internal service balances and activities have been combined with the governmental activities in the <br />government -wide financial statements. The City's Internal Service Funds account for Information <br />Systems Management, Building Maintenance, Self -Insurance and Equipment Maintenance which <br />provides service to other departments of the City on a cost reimbursement basis. <br />Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual <br />basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on <br />the Statement of Net Position. The Statement of Revenues, Expenses and Changes in Net Position <br />presents increases (revenues) and decreases (expenses) in total Net Position. Under the accrual basis of <br />accounting, revenues are recognized in the period in which they are earned while expenses are recognized <br />in the period in which the liability is incurred. <br />Operating revenues in the proprietary funds are those revenues that are generated from the primary <br />operations of the fund. All other revenues are reported as non-operating revenues. Operating expenses are <br />those expenses that are essential to the primary operations of the fund. All other expenses are reported as <br />non-operating expenses. <br />47 <br />