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CITY OF SAN LEANDRO <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />For The Year Ended June 30, 2015 <br /> <br /> <br />NOTE 10 – NET POSITION AND FUND BALANCES (Continued) <br /> <br />E. Prior Period Adjustments of Entity-Wide Statement of Net Position, Fund Level Statement of Net <br />Position and Beginning Fund Balance <br /> <br />During the fiscal year, the City implemented GASB Statement No. 68 and 71, Accounting and Financial <br />Reporting for Pensions. As a result, the City made prior period adjustments and reduced net position as of <br />July 1, 2014, of the Water Pollution Control Plant Enterprise Fund by $12,694,033. The City also reduced <br />the Governmental activities beginning net position by $123,962,902. <br /> <br />The City also made prior period adjustment in the fund level to change the method of accounting and <br />eliminate deferred inflows of resources related to loans receivable. As a result fund balances as of July 1, <br />2014, of the Affordable Housing Asset Special Revenue were increased by $751,608. In the entity-wide <br />Statement of Net Position, beginning net position was reduced by $12,193,760. <br /> <br /> NOTE 11 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY <br /> <br />A. Fund Deficits <br /> <br />At June 30, 2015, the following funds had fund balance deficit or net position deficit: <br /> <br />Shoreline Enterprise Fund 1,221,842$ <br />Parking Special Revenue Fund 104,136 <br />Special Grants Special Revenue Fund 1,279,532 <br />B. Expenditures in Excess of Appropriations <br /> <br />Excess of expenditures over appropriations approved by the City Council occurred in individual funds <br />during the fiscal year 2014-15 as follows: <br /> <br />Fund/Department Expenditure Appropriation Excess <br />General Fund <br />General Government 11,720,994$ 11,609,646$ (111,348)$ <br />Special Revenue Funds <br />Affordable Housing Asset <br />Community Development 3,933 - (3,933) <br />Cherry Wood Maintenance District <br />Engineering and Transportation 188 - (188) <br />Heron Bay <br />Interest and Fees 3,400 - (3,400) <br />Debt Service Fund <br />Special Assessment District <br />Interest and Fees 252,183 - (252,183) <br />San Leandro Public Financing Authority <br />Interest and Fees 763,754 759,319 (4,435) <br /> <br />68