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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 3 – LOANS RECEIVABLE (Continued) <br /> <br />At June 30, 2015, the City was owed, in its Housing In-Lieu Special Revenue Fund, $637,000 for a <br />housing assistance loan made by the City to the Estabrook Senior Housing for low-moderate housing <br />construction. The terms of repayment vary. All of the loans receivable was reduced by allowance for <br />uncollectible loans. <br /> <br />NOTE 4 – DEFERRED OUTFLOWS/INFLOWS OF RESOURCES <br /> <br />In addition to assets, the statement of financial position or balance sheets reports a separate section for <br />deferred outflows of resources. This separate financial statement element, deferred outflows of resources, <br />represents a consumption of net position or fund balance that applies to a future period(s) and so will not <br />be recognized as an outflow of resources (expense/expenditure) until then. <br /> <br />In addition to liabilities, the statement of financial position or balance sheet reports a separate section for <br />deferred inflows of resources. This separate financial statement element, deferred inflows of resources, <br />represents an acquisition of net position or fund balance that applies to a future period(s) and so will not <br />be recognized as an inflow of resources (revenue) until that time. <br /> <br />NOTE 5 - INTERFUND TRANSACTIONS <br /> <br />A. Interfund Receivables and Payables <br /> <br />At June 30, 2015, the City had the following short-term receivables and payables: <br /> <br />Receivable Fund Payable Fund Amount <br />General Fund Non-Major Governmental Funds 1,545,220$ <br /> The City has recorded due to/due from all funds requiring cash at the end of June 30, 2015 to the funds <br />that had deficit year-end balances which will be repaid back to the General Fund during the 2015-16 <br />fiscal year. <br /> <br />B. Long-Term Advances <br /> <br />Long-term advances to be repaid out of future earnings or charges at June 30, 2015, consisted of: <br /> <br />Receivable 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 4,693,253 <br />Total 12,874,645$ <br />Payable Fund <br /> <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, 2015, was $1,000,000. <br />54