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<br />Redevelopment Agency of the City of Redwood City
<br />Statement of Net Assets
<br />June 30, 2006
<br />
<br /> ASSETS
<br />Current assets:
<br />Cash and investment $ 5,314,508
<br />Accounts receivable 1,105
<br />Due from other governments 500,000
<br />Accrued interest receivable 152,259
<br />Deposits 15,000
<br />Total current assets 5,982,872
<br />Noncurrent assets:
<br />Restricted cash and investment 7,101,689
<br />Loans receivable 5,943,464
<br />Investment in land held for redevelopment 1,781,342
<br />Deferred charges 1,290,447
<br />Capital assets:
<br />Non-depreciable 32,907,428
<br />Depreciable, net 3,846,735
<br />Total capital assets, net 36,754,163
<br />Total noncurrent assets 52,871,105
<br />Total assets 58,853,977
<br /> LIABILITIES
<br />Current liabilities:
<br />Accounts payable 1,560,832
<br />Accrued interest payable 478,518
<br />Deposits payable 66,886
<br />Advances from other funds 3,176,887
<br />Long-term debt - due in one year 1,233,092
<br />Total current liabilities 6,516,215
<br />Noncurrent liabilities:
<br />Long-term debt - due in more than one year 44,843,061
<br />Total noncurrent liabilities 44,843,061
<br />Total liabilities 51,359,276
<br /> NET ASSETS
<br />Investment in capital assets, net of related debt 99,704
<br />Restricted for:
<br />Debt service 2,254,217
<br />Capital projects 162,756
<br />Community development projects (2,960,682)
<br />Low and moderate income housing 9,638,744
<br />Total restricted net assets 9,095,035
<br />Unrestricted (1,700,038)
<br />Total net assets $ 7,494,701
<br />See accompanying Notes to Basic Financial Statements.
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