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CITY OF REDWOOD CITY,CALIFORNIA
<br /> PROPRIETARY FUNDS
<br /> STATEMENT OF NET ASSETS
<br /> JUNE 3 0,2007
<br /> Business-Type Activities-Enterprise Funds Governmental
<br /> Water Sewer Activities-
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br /> $ $ $ $ $ $
<br /> ASSETS
<br /> Current assets:
<br /> Cash and investments available for operations 15,724,794 2,947,738 310,840 13,182,116 32,165,488 17,621,832
<br /> Receivables(net of allowance for uncollectibles):
<br /> Accounts 1,825,297 785,755 26,758 487,394 3,125,204 2,500
<br /> Accrued interest 204,139 204,139
<br /> Due from other governmental agencies 857,837 100 857,937 126,635
<br /> Inventory of supplies at cost 234,756
<br /> Advances to other funds 2,500,000 2,500,000
<br /> Deposits 2,291 2,291 295,603
<br /> Prepaid items 39,797 247,626 287,423 502,778
<br /> Total current assets 20,296,318 4,591,330 337,698 13,917,136 39,142,482 18,784,104
<br /> Noncurrent assets:
<br /> Cash and investments,restricted 29,238,045 1,555,302 30,793,347
<br /> Capital assets:
<br /> Nondepreciable 26,926,598 853,132 822,913 22,534,766 51,137,409
<br /> Depreciable buildings,property,equipment
<br /> and infrastructure,net 29,990,611 11,973,843 5,414,211 10,221,322 57,599,987 6,181,696
<br /> Unamortized bond discounts&issuance costs 1,606,536 502,391 2,108,927
<br /> Investment in sewer authority 16,113,218 16,113,218
<br /> Investment in sewage capacity rights 2,259,091 400,000 2,659,091
<br /> Advances to South Bayside System Authority 24,099,314 24,099,314
<br /> Total noncurrent assets 111,861,104 31,199,284 6,237,124 35,213,781 184,511,293 6,181,696
<br /> Total assets 132,157,422 35,790,614 6,574,822 49,130,917 223,653,775 24,965,800
<br /> LIABILITIES
<br /> Current liabilities:
<br /> Accounts payable 3,665,201 876,298 89,673 928,503 5,559,675 801,859
<br /> Deposits payable 237,025 15,976 178,922 431,923
<br /> Insurance claims payable-current portion 2,410,690
<br /> Advances from other funds 2,500,000 2,500,000
<br /> Accrued sick leave and vacation-current portion 173,362 85,972 14,855 122,842 397,031 282,046
<br /> Environmental liability 287,000 287,000
<br /> Revenue bonds payable-current portion 1,560,630 225,000 1,785,630
<br /> Loans/leases payable-current portion 25,385 25,385
<br /> Unearned revenue 300,701 300,701
<br /> Accrued interest payable 1,072,782 10,896 67,222 1,150,900
<br /> Total current liabilities 6,709,000 3,473,166 120,504 2,135,575 12,438,245 3,494,595
<br /> Noncurrent liabilities:
<br /> Insurance claims payable 7,246,150
<br /> Accrued sick leave and vacation 231,486 120,053 34,399 385,938 419,304
<br /> Revenue bonds payable 73,242,018 9,375,000 82,617,018
<br /> Loans payable 1,300,000 602,674 1,902,674
<br /> Total noncurrent liabilities 73,473,504 120,053 1,334,399 9,977,674 84,905,630 7,665,454
<br /> Total liabilities 80,182,504 3,593,219 1,454,903 12,113,249 97,343,875 11,160,049
<br /> NET ASSETS
<br /> Invested in capital assets,
<br /> net of related debt 30,903,376 12,826,975 4,937,124 21,839,410 70,506,885 6,181,696
<br /> Restricted for capital projects 40,772 40,772
<br /> Restricted for debt service 4,779,914 1,318,491 6,098,405
<br /> Unrestricted 16,291,628 19,370,420 142,023 13,859,767 49,663,838 7,624,055
<br /> Total net assets 51,974,918 32,197,395 5,119,919 37,017,668 126,309,900 13,805,751
<br /> See accompanying notes to�nancial statements
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