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6.G. - Page 54 of 187
<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />RECONCILIATION OF THE
<br />GOVERNMENTAL FUNDS - BALANCE SHEET
<br />WITH THE STATEMENT OF NET POSITION
<br />JUNE 30, 2018
<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 (347,486)
<br />Interest payable (2,624)
<br />Accrued sick leave and vacation, net of Internal Service Fund of $1,011,176 (10,934,502)
<br />Net OPEB obligation, net of Internal Service Fund of $491,322 (47,274,941)
<br />Net Pension liability, net of Internal Service Fund of $17,596,466 (201,602,407)
<br />DEFERRED OUTFLOWS OF RESOURCES - Deferred employer pension and OPEB contributions, net of Internal Service Fund of $1,336,335
<br />DEFERRED OUTFLOWS OF RESOURCES - Pension and OPEB, net of Internal Service Fund of $2,282,989
<br />DEFERRED INFLOWS INFLOWS OF RESOURCES - Pension and OPEB, net of Internal Service Fund of $416,947
<br />NET POSITION OF GOVERNMENTAL ACTIVITIES
<br />See accompanying notes to financial statements
<br />27
<br />20,934,726
<br />28,835,516
<br />(1,653,155)
<br />124,661,490
<br />233
<br />$
<br />TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUNDS
<br />133,439,091
<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
<br />190,541,965
<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
<br />8,945,836
<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 therefor
<br />are not reported as revenues in the Governmental Funds
<br />Interest revenue
<br />3,779,471
<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 (347,486)
<br />Interest payable (2,624)
<br />Accrued sick leave and vacation, net of Internal Service Fund of $1,011,176 (10,934,502)
<br />Net OPEB obligation, net of Internal Service Fund of $491,322 (47,274,941)
<br />Net Pension liability, net of Internal Service Fund of $17,596,466 (201,602,407)
<br />DEFERRED OUTFLOWS OF RESOURCES - Deferred employer pension and OPEB contributions, net of Internal Service Fund of $1,336,335
<br />DEFERRED OUTFLOWS OF RESOURCES - Pension and OPEB, net of Internal Service Fund of $2,282,989
<br />DEFERRED INFLOWS INFLOWS OF RESOURCES - Pension and OPEB, net of Internal Service Fund of $416,947
<br />NET POSITION OF GOVERNMENTAL ACTIVITIES
<br />See accompanying notes to financial statements
<br />27
<br />20,934,726
<br />28,835,516
<br />(1,653,155)
<br />124,661,490
<br />233
<br />
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