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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2021
<br />
<br />
<br />NOTE 4 – INTERFUND TRANSACTIONS (Continued)
<br />
<br />B. Long-Term Advances
<br />
<br />Long-term advances to be repaid out of future earnings or charges at June 30, 2021, consisted of:
<br />
<br />Receivable Fund Amount
<br />General Fund Shoreline Enterprise Fund 6,276,736$
<br />Water Pollution Control Plant
<br /> Enterprise Fund General Fund 1,705,009
<br />Total 7,981,745$
<br />Payable Fund
<br />
<br />
<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, 2021, was $2,806,676 and $3,470,060 for the Marina and the Golf
<br />Course, respectively, for a total of $6,276,736.
<br />
<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, 2021, the outstanding amount was $1,705,009.
<br />
<br />
<br />C. Transfers
<br />
<br />Transfers during the fiscal year ended June 30, 2021, comprised the following:
<br />
<br />Capital Improvement Water Pollution
<br />General Capital Projects Non-Major Control Plan
<br />Fund Fund Governmental Funds Enterprise Fund Total
<br />General Fund -$ 4,917,823$ -$ -$ 4,917,823$
<br />Capital Improvements
<br /> Capital Projects Fund 3,460,000 - - - 3,460,000
<br />Non-major
<br /> Governmental Funds 50,000 - - - 50,000
<br />Non-major
<br /> Enterprise Funds - - - 132,782 132,782
<br />Internal Service Funds - - 176,512 - 176,512
<br />Total 3,510,000$ 4,917,823$ 176,512$ 132,782$ 8,737,117$
<br />Transfers Out:
<br />Transfers In
<br />
<br />59320
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