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Redevelopment Agency of the City of Redwood City
<br /> Statement of Net Assets
<br /> For the year ended June 30, 2007
<br /> ASSETS
<br /> Current assets:
<br /> Cash and investment $ 5,647,814
<br /> Accounts receivable 6,360
<br /> Accrued interest receivable 128,319
<br /> Total current assets 5,782,493
<br /> Noncurrent assets:
<br /> Restricted cash and investment 4,422,611
<br /> Loans receivable 6,387,659
<br /> Investment in land held for redevelopment 2,981,766
<br /> Deferred charges 1,242,652
<br /> Capital assets:
<br /> Non-depreciable 30,798,605
<br /> Depreciable,net 10,605,718
<br /> Total capital assets,net 41,404,323
<br /> Total noncurrent assets 56,439,011
<br /> Total assets 62,221,504
<br /> LIABILITIES
<br /> Current liabilities:
<br /> Accounts payable 1,982,355
<br /> Accrued interest payable 453,251
<br /> Deposits payable 71,270
<br /> Advances from the City 3,000,000
<br /> Long-term debt-due in one year 1,283,092
<br /> Total current liabilities 6,789,968
<br /> Noncurrent liabilities:
<br /> Long-term debt-due in more than one year 44,849,143
<br /> Total noncurrent liabilities 44,849,143
<br /> Total liabilities 51,639,111
<br /> NET ASSETS
<br /> Investment in capital assets,net of related debt 3,143,697
<br /> Restricted for:
<br /> Debt service 1,718,690
<br /> Community development projects 1,040,310
<br /> Low and moderate income housing 11,761,904
<br /> Total restricted net assets 14,520,904
<br /> Unrestricted (7,082,208)
<br /> Total net assets $ 10,582,393
<br /> See accompanying Notes to Basic Financial Statements.
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