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<br />NOTE 11- FuNDs wrm EXPENDITURES EXCEEDING APPROPRIATIONS <br /> <br />The budgetary expenditures did not exceed appropriations in the major funds presented. <br /> <br />NOTE 12 -INTERFUND TRANSFERS AND TRANSACTIONS <br /> <br />A. <br /> <br />Transfers <br /> <br />The following interfund transfers were made during the year: <br /> <br />Fund Receiving Transfers <br /> <br />Fund Making Transfers <br /> <br />Amount <br />Transferred <br />$ <br />150,000 (I) <br />441,431 (2) <br />24,809 (2) <br /> <br />General Fund <br /> <br />Redwood Shores Maintenance Fund <br />Capital Outlay Fund <br />Internal Services Fund <br /> <br />Special Revenue Funds <br />Traffic Safety Fund <br /> <br />Capital Project Funds <br />Capital Outlay Fund <br /> <br />General Fund <br /> <br />841,846 (4) <br /> <br />General Fund <br />Redevelopment Agency Fund <br /> <br />5,883,298 (3) <br />8,500,000 (3) <br /> <br />Debt Service Funds <br />1997 Tax Allocation Refunding Bonds Fund <br /> <br />Redevelopment Agency Fund <br />Redevelopment Agency Low and Moderate <br />Income Housing Fund <br />Redevelopment Agency Fund <br />General Fund <br /> <br />1,145,128 (5) <br /> <br />2003 Tax Allocation Bonds Fund <br />1998 City Hall Lease Revenue COPs Fund <br /> <br />Internal Service Funds <br />Equipment Services Fund <br /> <br />286,281 (5) <br />792,664 (5) <br />665,682 (5) <br /> <br />Water Utility Fund <br />Sewer Utility Fund <br /> <br />25,218 (3) <br />9,746 (3) <br /> <br />18,766,103 <br /> <br />Total Interfund Transfers <br /> <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 general capital assets. <br />(4) Allocation of funds to support operations. <br />(5) Transfer of amounts required to fund debt service payments. <br /> <br />B. <br /> <br />Long- Tenn Interfund Loans <br /> <br />Transportation Grant Special <br />Revenue Fund <br />Redevelopment Agency Fund <br />Total Long-Term Interfund Loans <br /> <br />General Fund <br /> <br />Amount of Advance <br />$ <br />90,700 <br /> <br />Fund Receiving Advance <br /> <br />Fund Making Advance <br /> <br />Capital Outlay Fund <br /> <br />3.051.157 <br />3,141,857 <br /> <br />During 1996/97, the general fund advanced $1,125,700 to the transportation grant special revenue fund. <br />$140,000 was repaid in fiscal year 1998, $820,000 was repaid in fiscal year 2000, $85,000 was advanced <br />in fiscal year 2001, $160,000 was repaid in 2002, and $284,467 was advanced in fiscal year 2003 and <br />repaid in fiscal year 2004 leaving a balance of $90,700 owed to the general fund. <br /> <br />55 <br />