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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2019
<br />NOTE 4 – INTERFUND TRANSACTIONS (Continued)
<br />B.Long-Term Advances
<br />Long-term advances to be repaid out of future earnings or charges at June 30, 2019, consisted of:
<br />Receivable Fund Amount
<br />General Fund Shoreline Enterprise Fund 6,712,486$
<br />Water Pollution Control Plant
<br /> Enterprise Fund General Fund 2,760,552
<br />Total 9,473,038$
<br />Payable Fund
<br />The City Council authorized General Fund loans to the Shoreline Enterprise Fund for capital
<br />improvements at the Marina and Golf Course. The loans are to be paid over 30 years with an annual
<br />interest accrual rate of 5%. Principal payments are made annually provided the fund has sufficient
<br />resources. The balance as of June 30, 2019, was $2,992,728 and $3,719,758 for the Marina and the Golf
<br />Course, respectively, for a total of $6,712,486.
<br />The City Council authorized a loan to the General Fund from the Water Pollution Control Plant in 2011
<br />for the partial payment of the Public Safety Side Fund Obligation. The $6,000,000 loan was to pay-down
<br />the CalPERS Public Safety Side Fund with a long term adjustable rate of 4% or less annually for 13
<br />years. As of June 30, 2019, the outstanding amount was $2,760,552.
<br />C.Loan to Successor Agency
<br />The City Council authorized various loans to the Private Purpose Trust Fund from the General Fund for
<br />operating and capital improvement purposes. The balance as of June 30, 2019, was $1,575,205.
<br />D.Transfers
<br />Transfers during the fiscal year ended June 30, 2019, comprised the following:
<br />Capital Improvements Water Pollution
<br />General Capital Projects Control Plan Non-Major
<br />Fund Fund Enterprise Fund Governmental Funds Total
<br />Capital Improvements
<br /> Capital Projects Funds 7,765,000$ -$ -$ 20,000,000$ 27,765,000$
<br />Non-major
<br /> Governmental Funds 433,333 433,333
<br />Shoreline Enterprise
<br />Fund 476,000 476,000
<br />Non-major
<br /> Enterprise Funds 132,782 132,782
<br />Internal Service Funds 1,000,000 373,327 1,373,327
<br />Total 9,198,333$ 476,000$ 132,782$ 20,373,327$ 30,180,442$
<br />Transfers Out:
<br />Transfers In
<br />59206
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