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6.G. - Pagf Redwood 187 <br />City <br />Notes to the Basic Financial Statements <br />For the fiscal year ended June 30, 2018 <br />NOTE 12 - INTERFUND TRANSFERS AND TRANSACTIONS <br />A. Transfers <br />The following interfund transfers were made during the year: <br />Fund Receiving Transfers <br />Fund Making Transfers <br />Amount Transferred <br />General Fund <br />Non -major Governmental Funds <br />391,242 (1) <br />General Fund <br />Capital Outlay <br />318,358 (2) <br />Capital Outlay Fund <br />Internal Service Funds <br />2,491 (2) <br />Capital Outlay Fund <br />General Fund <br />8,837,177 (3) <br />Non -major Governmental Funds <br />General Fund <br />1,698,275 (1) <br />Capital Outlay Fund <br />598,016 (1) <br />Water <br />General <br />180,383 (1) <br />Sewer <br />537,454 (1) <br />Docktown <br />General <br />6,210,465 (1) <br />Internal Service Funds <br />General Fund <br />3,352,690 (1) <br />Total Interfund Transfers <br />22,126,551 <br />The reasons for these transfers are set forth below <br />MAllocation of funds to support operations. <br />(2)Reimburse General Fund for interest earned by funds supported by the General Fund. <br />(3)Allocation of funds to construct/purchase general capital assets <br />B. Short -Term Due to/From other Funds <br />At the end of the fiscal year the general fund had net utility users tax receivable in the amount of <br />$967,343. The policy of the City Council dictates the transfer of utility users tax to the capital outlay <br />fund, and once the revenue is received, the general fund will transfer the cash to the capital outlay fund. <br />During FY 2017-18, the affordable housing fund borrowed $910,000 from the general fund as a short- <br />term borrowing related to a housing project. The $300,000 is related to the long-term advance and is <br />the current portion due. <br />Receivable Fund <br />Payable Fund <br />Amount Due to/From <br />General Fund <br />Non Major Governmental Funds <br />910,000 <br />Capital Outlay Fund <br />General Fund <br />967,343 <br />Internal Service Fund <br />Water Utility Fund <br />300,000 <br />2,177, 343 <br />84 290 <br />