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CITY OF SAN LEANDRO <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />For The Year Ended June 30, 2019 <br />NOTE 3 – LOANS RECEIVABLE (Continued) <br />During fiscal year 2019, the City was owed in its Low/Moderate Asset Housing Fund, $7,303,092 which <br />includes (1) loans made to the City property owners who meet the HUD requirements for financial <br />assistance for property improvements and first time home buyer loans; (2) a loan made to Ruth Rogers <br />and Sara Bagwell; (3) a loan made to Eden Housing, Inc.; (4) a loan made to San Leandro Senior <br />Housing; (5) a loan made to Citizens’ Housing Corporation for property improvements; and (6) a loan <br />made to Mercy Housing for the construction of the Casa Verde. The total loan receivable amount was <br />reduced by an allowance for uncollectible loans in the amount of $7,005,583 leaving a balance of <br />$297,509 as of June 30, 2019. <br />At June 30, 2019, the City was owed in its Community Development Block Grant Special Revenue Fund, <br />$240,753 for various housing assistance loans made by the City. The terms of repayment vary. All of the <br />loans receivable was reduced by allowance for uncollectible loans. <br />At June 30, 2019, the City was owed in its HOME Special Revenue Fund, $3,335,000 which includes (1) <br />two housing assistance loans made by the City to Citizens’ Housing Corporation; (2) a loan made to <br />Estabrook Senior Housing for construction of senior housing facility; (3) a loan made to Hello Housing <br />for the rehabilitation of a single family home; (4) a housing assistance loan made to Allied Housing. The <br />terms of repayment vary. All of the loans receivable were reduced by allowance for uncollectible loans. <br />At June 30, 2019, the City was owed in its Housing In-Lieu Special Revenue Fund, $637,000 for a <br />housing assistance loan made by the City to the Estabrook Senior Housing for low-moderate housing <br />construction. The terms of repayment vary. The entire loan receivable was reduced by allowance for <br />uncollectible loans. <br />NOTE 4 – INTERFUND TRANSACTIONS <br />A.Interfund Receivables and Payables <br />At June 30, 2019, the City had the following short-term receivables and payables: <br />Receivable Fund Payable Fund Amount <br />General Fund Storm Water Utility Fund 590,449$ <br />Non-Major Governmental Funds 939,937 <br />Total 1,530,386$ <br />The City has recorded due to/due from all funds requiring cash at the end of June 30, 2019. The funds that <br />had deficit year-end balances will be repaid back to the General Fund during the 2019-20 fiscal year. <br />58205