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CITY OF REDWOOD CITY,CALIFORNIA
<br /> STATEMENT OF NET ASSETS
<br /> JUNE 3 0,2007
<br /> Governmental Business-Type
<br /> Activities Activities Total
<br /> $ $ $
<br /> ASSETS
<br /> Cash and investments available for operations 103,409,131 32,165,488 135,574,619
<br /> Cash and investments,restricted 21,467,692 30,793,347 52,261,039
<br /> Receivables(net of allowance for uncollectibles):
<br /> Taxes and assessments-current 6,245,413 6,245,413
<br /> Accounts 1,317,069 3,125,204 4,442,273
<br /> Loans 14,735,939 14,735,939
<br /> Accrued interest 1,707,277 204,139 1,911,416
<br /> Due from other governmental agencies 3,136,083 857,937 3,994,020
<br /> Inventory of supplies at cost 236,398 236,398
<br /> Deposits 658,103 2,291 660,394
<br /> Prepaid items 952,657 287,423 1,240,080
<br /> Investment in land held for redevelopment 3,471,895 3,471,895
<br /> Capital assets:
<br /> Nondepreciable 99,836,139 51,137,409 150,973,548
<br /> Depreciable buildings,property,equipment and infrastructure,net 120,045,642 57,599,987 177,645,629
<br /> Unamortized bond discounts&issuance costs 1,484,829 2,108,927 3,593,756
<br /> Investment in sewer authority 16,113,218 16,113,218
<br /> Investment in sewage capacity rights 2,659,091 2,659,091
<br /> Advances to South Bayside System Authority 24,099,314 24,099,314
<br /> Total assets 378,704,267 221,153,775 599,858,042
<br /> LIABILITIES
<br /> Accounts payable 7,741,611 5,559,675 13,301,286
<br /> Accrued interest payable 730,576 1,150,900 1,881,476
<br /> Accrued payroll 1,470,849 1,470,849
<br /> Deposits payable 4,830,803 431,923 5,262,726
<br /> Insurance claims payable:
<br /> Due in one year 2,410,690 2,410,690
<br /> Due in more than one year 7,246,150 7,246,150
<br /> Unearned revenue 613,415 300,701 914,116
<br /> Environmental liability 287,000 287,000
<br /> Accrued sick leave and vacation:
<br /> Due in one year 283,599 397,031 680,630
<br /> Due in more than one year 7,659,819 385,938 8,045,757
<br /> Long-Term Debt:
<br /> Due in one year 4,098,378 1,811,015 5,909,393
<br /> Due in more than one year 67,512,286 84,519,692 152,031,978
<br /> Total liabilities 104,598,176 94,843,875 199,442,051
<br /> NET ASSETS
<br /> Invested in capital assets,net of related debt 156,907,578 70,506,885 227,414,463
<br /> Restricted for:
<br /> Capital projects 27,963,512 40,772 28,004,284
<br /> Debt service 5,571,170 6,098,405 11,669,575
<br /> Community development projects 17,885,347 17,885,347
<br /> Other purposes 3,336,958 3,336,958
<br /> Total restricted net assets 54,756,987 6,139,177 60,896,164
<br /> Unrestricted net assets 62,441,526 49,663,838 112,105,364
<br /> Total net assets 274,106,091 126,309,900 400,415,991
<br /> See accompanying notes to financial statements
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