Laserfiche WebLink
CITY OF SAN LEANDRO <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />For The Year Ended June 30, 2014 <br />NOTE 4 — DEFERRED OUTFLOWS/INFLOWS OF RESOURCES <br />In addition to assets, the statement of financial position or balance sheet will sometimes report a separate <br />section for deferred outflows of resources. This separate financial statement element, deferred ou flows of <br />resources, represents a consumption of net position or fund balance that applies to a future period(s) and <br />so will not be recognized as an outflow of resources (expense/expenditure) until then. <br />In addition to liabilities, the statement of financial position or balance sheet will sometimes report a <br />separate section for deferred inflows of resources. This separate financial statement element, deferred <br />inflows of resources, represents an acquisition of net position or fund balance that applies to a future <br />period(s) and so will not be recognized as an inflow of resources (revenue) until that time. <br />NOTE 5 - INTERFUND TRANSACTIONS <br />A. Interfund Receivables and Payables <br />At June 30, 2014, the City had the following short-term receivables and payables: <br />Receivable Fund Payable Fund Amount <br />General Fund Non -Major Governmental Funds $ 1,593,152 <br />The City has recorded due to/due from all funds requiring cash at the end of June 30, 2013 to the funds <br />that had deficit year-end balances which will be repaid back to the General Fund during the 2013-14 <br />fiscal year. <br />B. Long -Term Advances <br />Long-term advances to be repaid out of future earnings or charges at June 30, 2014, consisted of- <br />Receivable <br />£ <br />Receivable Fund Payable Fund Amount <br />General Fund Non -Major Governmental Funds $ 1,000,000 <br />Shoreline Enterprise Fund 7,106,392 <br />8,106,392 <br />Internal Service Fund Non -Major Governmental Funds 75,000 <br />Water Pollution Control Plant <br />Enterprise Fund General Fund 5,141,772 <br />Total $ 13,323,164 <br />The City Council authorized a General Fund loan to the Capital Improvement Project fund for the <br />improvement project on Davis Street. The loan accrues interest annually at the pooled cash investment <br />rate. The balance as of June 30, 2014, was $1,000,000. <br />061 <br />