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