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6.C. - Page 59 of 196
<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, 2020
<br />TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUNDS 149,832,982
<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 $9,914,088 237,180,209
<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. 12,843,783
<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
<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 ($1,290,597)
<br />Net Pension liability, net of Internal Service Fund of ($20,031,064)
<br />Net OPEB obligation, net of Internal Service Fund of ($4,254,161)
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pension related, net of Internal Service Fund of $2,277,508
<br />OPEB related, net of Internal Service Fund of $827,765
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pension related, net of Internal Service Fund of ($432,735)
<br />OPEB related, net of Internal Service Fund of ($508,979)
<br />NET POSITION OF GOVERNMENTAL ACTIVITIES
<br />See accompanying notes to financial statements
<br />27
<br />1,553,191
<br />(12,323,762)
<br />(212,421,687)
<br />(40,789,053)
<br />34,205,599
<br />7,547,921
<br />(3,743,390)
<br />(4,663,310)
<br />169,222,483
<br />146
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