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7.1.A. - Page 102 <br /> Notes to the Basic Financial Statements <br /> For the year ended June 30, 2014 <br /> NOTE 16 — CONSTRUCTION, OTHER SIGNIFICANT COMMITMENTS AND ENCUMBRANCES <br /> As of June 30, 2014, the City has the following significant commitments: <br /> $2,775,211 — Professional services related to 101/84 Highway Interchange <br /> $1,913,000 — Construction services related to Blomquist Avenue extension <br /> $520,921 — Professional services related to Inner Harbor Community Engagement Framework <br /> Purchase orders are issued throughout the fiscal year to encumber the budgets in the governmental <br /> funds. Following are the outstanding encumbrances as of June 30, 2014: <br /> Major Funds: $ <br /> General Fund 523,558 <br /> Capital Outlay Fund 1,354,040 <br /> Total Major Funds 1,877,598 <br /> Non -Major Funds 6,065,607 <br /> Total Encumbrances 7,943,205 <br /> NOTE 17 — SOUTH BAYSIDE WASTE MANAGEMENT AUTHORITY <br /> The City is a member of the South Bayside Waste Management Authority (SBWMA), a joint powers <br /> authority established to purchase the solid waste transfer station located in San Carlos, California from <br /> Browning- Ferris Industries. Currently there are 12 public entities that are members of this organization. <br /> Each of these members also, by individual and separate legislative action, has entered into a franchise <br /> agreement with Recology for solid waste collection within their respective jurisdictions. <br /> The SBWMA issued $20 million in bonds in 1999 to provide funds for the purchase of the transfer <br /> station. The debt issued by the SBWMA is not an obligation of any of the member entities. During FY <br /> 2009 -10, SBWMA issued $58.5 million in bonds to finance improvements at the solid waste transfer <br /> station, and the remaining balance of the 1999 bonds were retired. <br /> The SBWMA also serves as a regional forum for member entities to collectively pursue other solid waste <br /> management matters such as rate setting, solid waste reduction, and meeting recycling goals as <br /> required by state law. <br /> Audited financial statements are available from the SBWMA, c/o the City of San Carlos, 600 Elm Street, <br /> San Carlos, CA 94070. The following is SBWMA's condensed unaudited financial results for the year - <br /> ended June 30, 2014. <br /> Total assets 80, 505,928 <br /> Total liabilities 58,152,387 <br /> Total net position 22,353,541 <br /> 74 <br />