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6.A. - Page 114 of 191 CITY OF REDWOOD CITY NOTES TO THE BASIC FINANCIAL STATEMENTS For the Fiscal Year Ended June 30, 2019 NOTE 12 — INTERFUND TRANSFERS AND TRANSACTIONS (CONTINUED) B. Short -Term Due to/From other Funds At the end of the fiscal year the general fund had net utility users tax receivable in the amount of $967,342. The policy of the City Council dictates the transfer of utility users tax to the capital outlay fund, and once the revenue is received, the general fund will transfer the cash to the capital outlay fund. The $300,000 is related to the long-term advance and is the current portion due. Receivable Fund Payable Fund Amount Due to/From Capital Outlay Fund General Fund $ 967,342 Internal Service Fund Water Utility Fund 300,000 $ 1,267,342 C. Long -Term Interfund Loans Fund Receiving Advance Fund Making Advance Amount of Advance Water Utility Fund Equipment Service Fund Docktown Marina Parking Fund 900,000 850,000 Equipment Service Fund 3,000,000 Total Long-terminterfund Loans $ 4,750,000 During FY 2012-13, the equipment services internal service fund advanced $3,000,000 to the water utility enterprise fund for the implementation of the Automated Meter Infrastructure Project to replace water meters. During FY 2013-14 the water utility enterprise fund repaid $300,000 to the equipment services internal service fund. During FY 2016-17 the water utility enterprise fund repaid $300,000 to the equipment services internal service Fund. During FY 2017-18 the water utility enterprise fund repaid $300,000 to the equipment services internal service Fund. During FY 2018-19 the water utility enterprise fund repaid $300,000 to the equipment services internal service Fund. As of June 30, 2019, $300,000 of this advance is considered current. During FY 2017-18, the parking fund and equipment services internal service fund advanced $7,700,000 to the Docktown Marina Fund for costs associated with the Docktown Plan. During FY 2018-19, the Docktown Marina Fund repaid $3,850,000, plus interest, to the parking fund and equipment services internal service fund. NOTE 13 — RISK MANAGEMENT AND SELF-INSURANCE FUND A. Workers' Compensation and Property Insurance The City is self-insured for workers' compensation for the first $350,000 per occurrence and has a commercial insurance policy that covers the City's exposure above the retained limits up to the statutory limits required by the State of California. The City paid $675,092 during FY 2018-19 for the coverage. The City's workers' compensation policy includes coverage for the Port of Redwood City. The Port carries property and liability insurance policies with limits of $15,000,000 and $150,000,000, respectively. 86 121