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City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2013
<br />NOTE 7 - LONG-TERM DEBT (Continued)
<br />At June 30, 2013, future debt service requirements for the Marina Cal Boating Notes Payable follows:
<br />For The Year
<br />Ending June 30
<br />Principal
<br />Interest
<br />Total
<br />2014
<br />$198,843
<br />$94,167
<br />$293,010
<br />2015
<br />207,791
<br />85,219
<br />293,010
<br />2016
<br />217,141
<br />75,868
<br />293,009
<br />2017
<br />226,911
<br />66,098
<br />293,009
<br />2018
<br />237,124
<br />55,887
<br />293,011
<br />2019-2023
<br />915,930
<br />117,969
<br />1,033,899
<br />2024-2027
<br />86,856
<br />10,217
<br />97,073
<br />$2,090,596
<br />$505,425
<br />$2,596,021
<br />C. Debt Covenants and Restrictions
<br />For June 30, 2013, the City complied with all general and specific covenants regarding debt proceeds
<br />usage and debt repayment. In accordance with bond official statements, the City also maintained adequate
<br />reserves for all debt issues.
<br />NOTE 8 — COMPENSATED ABSENCES
<br />The City's compensated absences consist of accrued vacation pay, sick leave, and accrued compensatory
<br />time. The total amount of the accrued liability is recorded in the Government -wide Financial Statements
<br />and charges for compensated absences expense is charged to the various program activities in the
<br />Governmental funds, primarily General fund and Internal Service funds, and all Proprietary funds.
<br />Summary of changes in compensated absences for the year ended June 30, 2013, follows:
<br />Balance
<br />Balance Due within Due in more
<br />July 1, 2012 Additions Retirements June 30, 2013 one year than one year
<br />Governmental Activities $4,221,546 $530,507 ($1,295,989) $3,456,064 $487,478 $2,968,586
<br />Business -type Activities 531,098 56,933 (82,104) 505,927 45,533 460,394
<br />Total $4,752,644 $587,440 ($1,378,093) $3,961,991 $533,011 $3,428,980
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