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CITY OF REDWOOD CITY, CALIFORNIA
<br />RECONCILIATION OF THE
<br />GOVERNMENTAL FUNDS ‐ BALANCE SHEET
<br />WITH THE STATEMENT OF NET POSITION
<br />JUNE 30, 2017
<br />$
<br />TOTAL FUND BALANCES ‐‐ TOTAL GOVERNMENTAL FUNDS 130,618,912
<br />Amounts reported for Governmental Activities in the Statement of
<br />Net Position are different from those reported in the Governmental Funds above because of the following:
<br />CAPITAL ASSETS
<br />Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not
<br />reported in the Governmental Funds.
<br />Capital assets, net of Internal Service Fund of $8,519,713 184,634,733
<br />ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
<br />Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities,
<br />such as insurance and central services and maintenance, to individual governmental funds. The assets and liabilities of the
<br />Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Position.12,160,112
<br />ACCRUAL OF NON‐CURRENT REVENUES AND EXPENSES
<br />The amounts below are revenues in the statement of activities that do not provide current financial resources and therefore
<br />are not reported as revenues in the Governmental Funds:
<br />Interest revenue 1,044,137
<br />LONG TERM ASSETS AND LIABILITIES
<br />The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Governmental Funds:
<br />Long‐term debt (1,034,666)
<br />Interest payable (7,811)
<br />Accrued sick leave and vacation, net of Internal Service Fund of $1,011,176 (10,506,369)
<br />Net OPEB obligation, net of Internal Service Fund of $491,322 (5,997,462)
<br />Net Pension liability, net of Internal Service Fund of $17,596,466 (177,287,900)
<br />DEFERRED OUTFLOWS OF RESOURCES ‐ Deferred employer pension contributions, net of Internal Service Fund of $1,336,335 14,711,816
<br />DEFERRED OUTFLOWS OF RESOURCES ‐ Pension, net of Internal Service Fund of $2,282,989 32,242,568
<br />DEFERRED INFLOWS INFLOWS OF RESOURCES ‐ Pension, net of Internal Service Fund of $416,947 (15,381,612)
<br />NET POSITION OF GOVERNMENTAL ACTIVITIES 165,196,458
<br />See accompanying notes to financial statements
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<br />6.1.E. - Page 49
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