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CITY OF SAN LEANDRO <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />For The Year Ended June 30, 2024 <br />NOTE 5 – INTERFUND TRANSACTIONS <br />A.Interfund Receivables and Payables <br />At June 30, 2024, the City had the following short-term receivables and payables: <br />Receivable Fund Payable Fund Amount <br />General Fund Special Grants Special Revenue Fund 1,552,628$ <br />Non-Major Governmental Funds 2,288,802 <br />Storm Water Utility Enterprise Fund 2,658,319 <br />Total 6,499,749$ <br />The City has recorded due to/due from all funds requiring cash at the end of June 30, 2024. The funds that <br />had deficit year-end balances will be repaid back to the General Fund during the 2024-25 fiscal year. <br />B.Long-Term Advances <br />Long-term advances to be repaid out of future earnings or charges at June 30, 2024 consisted of: <br />Receivable Fund Amount <br />General Fund Shoreline Enterprise Fund 5,534,767$ <br />Total 5,534,767$ <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, 2024 was $2,488,051 and $3,046,716 for the Marina and the Golf <br />Course, respectively, for a total of $5,534,767. <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, 2024, the loan was fully paid off. <br />61