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CITY OF REDWOOD CITY, CALIFORNIA
<br />STATEMENT OF NET POSITION
<br />JUNE 30, 2017
<br />Governmental Business‐Type
<br />Activities Activities Total
<br />$$ $
<br />ASSETS
<br />Cash and investments available for operations 160,367,657 93,088,210 253,455,867
<br />Cash and investments, restricted 4,180,968 6,508,765 10,689,733
<br />Receivables (net of allowance for uncollectibles):
<br />Taxes and assessments ‐ current 6,541,184 6,541,184
<br />Accounts 1,954,240 6,237,526 8,191,766
<br />Loans 9,399,022 9,399,022
<br />Accrued interest 2,068,832 7 2,068,839
<br />Due from other governmental agencies 5,458,339 2,486,085 7,944,424
<br />Internal balances 1,800,000 (1,800,000)
<br />Advances to RDA successor agency 1,441,204 1,441,204
<br />Inventory of supplies at cost 120,852 120,852
<br />Deposits 535,000 10,360 545,360
<br />Prepaid items and other assets 291,984 335,312 627,296
<br />Land held for redevelopment 5,741,208 5,741,208
<br />Investment in sewer authority 39,863,182 39,863,182
<br />Investment in sewer capacity rights 400,000 400,000
<br />Capital assets:
<br />Nondepreciable 53,012,815 17,296,364 70,309,179
<br />Depreciable buildings, property, equipment and infrastructure, net 140,141,631 186,252,642 326,394,273
<br />Total assets 393,054,936 350,678,453 743,733,389
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred charge on refundings 1,690,925 1,690,925
<br />Deferred outflows ‐ pension 22,505,712 2,762,901 25,268,613
<br />Deferred pension contributions 16,048,151 1,673,401 17,721,552
<br />Total deferred outflows of resources 38,553,863 6,127,227 44,681,090
<br />LIABILITIES
<br />Accounts payable 7,011,429 6,542,422 13,553,851
<br />Accrued interest payable 7,811 875,552 883,363
<br />Accrued payroll 2,374,210 2,374,210
<br />Deposits payable 9,445,040 1,201,133 10,646,173
<br />Unearned revenue 6,060,384 2,213,542 8,273,926
<br />Insurance claims payable:
<br />Due in one year 4,674,166 4,674,166
<br />Due in more than one year 19,096,327 19,096,327
<br />Accrued sick leave and vacation:
<br />Due in one year 446,269 451,939 898,208
<br />Due in more than one year 11,110,175 463,554 11,573,729
<br />Net OPEB obligation due in more than one year 6,488,784 735,912 7,224,696
<br />Net Pension liability 194,884,366 20,317,825 215,202,191
<br />Long‐Term Debt:
<br />Due in one year 687,180 2,773,483 3,460,663
<br />Due in more than one year 347,486 64,116,108 64,463,594
<br />Total liabilities 262,633,627 99,691,470 362,325,097
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows ‐ pension 3,778,714 300,422 4,079,136
<br />Total deferred inflows of resources 3,778,714 300,422 4,079,136
<br />NET POSITION
<br />Net investment in capital assets 192,119,780 142,830,042 334,949,822
<br />Restricted for:
<br />Capital projects 10,571,067 5,400,889 15,971,956
<br />Transportation 10,061,476 10,061,476
<br />Environmental support 2,638,226 2,638,226
<br />Leisure, cultural, and information services 18,146,734 18,146,734
<br />Debt service 826,308 826,308
<br />Community development projects 16,788,633 16,788,633
<br />Public safety 314,484 314,484
<br />Housing purposes 844,008 844,008
<br />Other purposes 450,389 450,389
<br />Total restricted 59,815,017 6,227,197 66,042,214
<br />Unrestricted (86,738,339)107,756,549 21,018,210
<br />Total net position 165,196,458 256,813,788 422,010,246
<br />See accompanying notes to financial statements
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<br />6.1.E. - Page 44
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