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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2022
<br />NOTE 4 – LEASES ( Continued)
<br />On June 25, 2013, the City began leasing property to the Alameda County Fire Department with monthly
<br />payments ranging from $14,695 to $24,619 through the end of the lease term. Lease payments are to be
<br />increased by 3.5% every year on July 1, until the end of the lease on June 30, 2038. The City recognized
<br />$122,229 in lease revenue and $48,145 in interest revenue in fiscal year 2022 related to this lease. Also,
<br />the City has a deferred inflow of resources associated with this lease that will be recognized as revenue
<br />over the lease term.
<br />On May 16, 2005, the City began leasing property to New Cingular Wireless PCS, LLC with monthly
<br />payments ranging from $4,492 to $5,640 through the end of the lease term. Lease payments are to be
<br />increased by 2% every year on August 1, until the end of the lease on August 31, 2032. The City
<br />recognized $47,823 in lease revenue and $7,425 in interest revenue in fiscal year 2022 related to this
<br />lease. Also, the City has a deferred inflow of resources associated with this lease that will be recognized
<br />as revenue over the lease term.
<br />NOTE 5 – INTERFUND TRANSACTIONS
<br />A.Interfund Receivables and Payables
<br />At June 30, 2022, the City had the following short-term receivables and payables:
<br />Receivable Fund Payable Fund Amount
<br />General Fund Measure BB Special Revenue Fund 9,830,885$
<br />Non-Major Governmental Funds 1,364,821
<br />Storm Water Utility Ente rprise Fund 1,892,989
<br />Total 13,088,695$
<br />The City has recorded due to/due from all funds requiring cash at the end of June 30, 2022. The funds that
<br />had deficit year-end balances will be repaid back to the General Fund during the 2022-23 fiscal year.
<br />B.Long-Term Advances
<br />Long-term advances to be repaid out of future earnings or charges at June 30, 2022 consisted of:
<br />Receivable Fund Amount
<br />General Fund Shoreline Enterprise Fund 6,041,796$
<br />Water Pollution Control Plant
<br /> Enterprise Fund General Fund 1,153,387
<br />Total 7,195,183$
<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, 2022 was $2,706,024 and $3,335,772 for the Marina and the Golf
<br />Course, respectively, for a total of $6,041,796.
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