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City of Redwood City 7.1.A. - Page 97 <br /> Notes to the Basic Financial Statements <br /> For the year ended June 30, 2014 <br /> NOTE 12 — INTERFUND TRANSFERS AND TRANSACTIONS <br /> A. Transfers <br /> The following interfund transfers were made during the year: <br /> Fund Receiving Transfers Fund Making Transfers Amount Transferred <br /> General Fund Non -major Governmental Funds 260,000 (1) <br /> Capital Outlay Fund 150,503 (2) <br /> Internal Service Funds 15,976 (2) <br /> Capital Outlay Fund General Fund 9,166,504 (3) <br /> Parking Fund 2,717,764 I5i <br /> Non -major Governmental Funds General Fund 1,294,355 ( (4) <br /> Non -major Governmental Funds 27,684 I5i <br /> Parking Fund General Fund 426,461 I4i <br /> Internal Service Funds General Fund 6,000,000 I4i <br /> Sewer Fund 23,047 (3) <br /> Total Interfund Transfers 20,082,294 <br /> The reasons for these transfers are set forth below: <br /> (1) Reimburse General Fund for expenditures incurred for maintenance in the Redwood Shores area. <br /> (2) Reimburse General Fund for interest earned by funds supported by the General Fund. <br /> (3) Allocation of funds to construct /purchase general capital assets. <br /> I4i Allocation of funds to support operations. <br /> (5) Reimburse for expenditures /expenses incurred. <br /> 8. Short -Term Due to /From other Funds <br /> At the end of the fiscal year the general fund had net utility users tax receivable in the amount of <br /> $833,946. The policy of the City Council dictates the transfer of utility users tax to the capital outlay <br /> fund, and once the revenue is received, the general fund will transfer the cash to the capital outlay <br /> fund. <br /> Receivable Fund Payable Fund Amount Due to /From <br /> Capital Outlay Fund General Fund 833,946 <br /> Internal Service Funds Water Utility Fund 300,000 <br /> 1,133,946 <br /> 69 <br />