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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 /> <br />NOTE 7 - LONG-TERM DEBT (Continued) <br /> <br />C. Debt Covenants and Restrictions <br /> <br />For June 30, 2015, 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 <br />adequate reserves for all debt issues. <br /> <br />NOTE 8 – COMPENSATED ABSENCES <br /> <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 /> <br />Summary of changes in compensated absences for the year ended June 30, 2015, follows: <br /> <br />Balance Balance Due within Due in more <br />July 1, 2014 Additions Retirements June 30, 2015 one year than one year <br />Governmental Activities 3,216,062 $ 597,611 $ (598,959) $ 3,214,714$ 620,274 $ 2,594,440$ <br />Business-type Activities 485,545 102,519 (10,436) 577,628 51,986 525,642 <br />Total 3,701,607 $ 700,130 $ (609,395) $ 3,792,342$ 672,260 $ 3,120,082$ <br /> <br />NOTE 9 – UNEARNED REVENUE <br /> <br />A. Governmental-Wide Financial Statements <br /> <br />Unearned revenue in the Government-Wide Financial Statements represents amounts for which revenues <br />have not been earned. At June 30, 2015, unearned revenue in the Government-Wide Financial Statements <br />was $2,039,764. <br /> <br /> <br /> <br />64