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6.A. - Page 55 of 191
<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />RECONCILIATION OF THE
<br />GOVERNMENTAL FUNDS - BALANCE SHEET
<br />WITH THE STATEMENT OF NET POSITION
<br />JUNE 30, 2019
<br />TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUNDS 154,657,011
<br />Amounts reported for Governmental Activities in the Statement of
<br />Net Position are different from those reported in the Governmental Funds above because of the following:
<br />CAPITAL ASSETS
<br />Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not
<br />reported in the Governmental Funds.
<br />Capital assets, net of Internal Service Fund of $9,948,657 216,017,134
<br />ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
<br />Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain
<br />activities, such as insurance and central services and maintenance, to individual governmental funds. The assets and liabilities
<br />of the Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Position. 8,622,239
<br />ACCRUAL OF NON-CURRENT REVENUES AND EXPENSES
<br />The amounts below are revenues in the statement of activities that do not provide current financial resources and therefore
<br />are not reported as revenues in the Governmental Funds:
<br />Interest revenue 1,371,040
<br />LONG TERM ASSETS AND LIABILITIES
<br />The assets and liabilities below are not due and payable in the current period
<br />and therefore are not reported in the Governmental Funds:
<br />Accrued sick leave and vacation, net of Internal Service Fund of ($1,148,356)
<br />(11,120,265)
<br />Net Pension liability, net of Internal Service Fund of ($19,293,563)
<br />(205,118,865)
<br />Net OPEB obligation, net of Internal Service Fund of ($4,901,075)
<br />(45,984,085)
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pension related, net of Internal Service Fund of $2,815,555
<br />37,585,005
<br />OPEB related, net of Internal Service Fund of $769,830
<br />6,992,631
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pension related, net of Internal Service Fund of ($308,734) (2,118,769)
<br />OPEB related, net of Internal Service Fund of ($57,615) (496,306)
<br />NET POSITION OF GOVERNMENTAL ACTIVITIES 160,406,770
<br />See accompanying notes to financial statements
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