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NOTE 11 —FUNDS WITH EXPENDITURES EXCEEDING APPROPRIATIONS <br /> The budgetary expenditures exceeded appropriations in the transportation grants fund, traffic safety fund, <br /> transportation fund, Redwood Shores landscape maintenance fund, 1997 tax allocation refunding bonds <br /> fund, and the 1998 lease revenue refunding bonds fund. Sufficient revenues were available to fund these <br /> expenditures. <br /> NOTE 12—INTERFUND TRANSFERS AND TRANSACTIONS <br /> A. Trarlsfers <br /> The following interfund transfers were made during the year: <br /> Amount <br /> Fund Receiving Transfers Fund Making Transfers Transferred <br /> $ <br /> General Fund Non-major Governmental Funds 250,000 (1> <br /> Capital Outlay Fund 1,067,953 �2> <br /> Internal Service Funds 33,209 (2) <br /> Capital Outlay Fund General Fund 8,851,852 (3) <br /> Non-major Governmental Funds General Fund 1,929,735 (3> (4> �s� <br /> Capital Outlay Fund 320,781 �3� <br /> Redevelopment Agency Fund 1,3 89,7 8 5 (3) �s� <br /> Non-major Governmental Funds 976,253 (3) �s� <br /> Parking Fund General Fund 350,000 (4) <br /> Internal Service Funds General Fund 1,100,000 (4) <br /> Water Utility Fund 6,862 �3� <br /> Total Interfund Transfers 16,276,430 <br /> The reasons for these transfers are set forth below: <br /> (1> Reimburse General Fund for expenditures incurred for maintenance in the Redwood Shores area. <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 /> (4> Allocation of funds to support operations. <br /> �s� Transfer of amounts required to fund debt service payments. <br /> B. Long-Term Interfi�rld Loarls <br /> Fund Receiving Advance Fund Making Advance Amount of Advance <br /> $ <br /> Redevelopment Agency Fund Capital Outlay Fund 3,000,000 <br /> Sewer Utility Fund Water Utility Fund 2,500,000 <br /> Total Long-Term Interfund Loans 5,500,000 <br /> During FY 2004/O5, the capital outlay fund advanced $3,000,000 to the redevelopment agency fund to <br /> finance various downtown improvements. During FY 2006/07 the water utility fund advanced <br /> $2,500,000 to the sewer utility fund to cover the unanticipated increase in the capital replacement fund <br /> needs of the South Bayside System Authority. <br /> 56 <br />