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6.C. - Page 117 of 196 CITY OF REDWOOD CITY NOTES TO THE BASIC FINANCIAL STATEMENTS For the Fiscal Year Ended June 30, 2020 NOTE 10 — NET POSITION AND FUND BALANCES (CONTINUED) C. Deficit Fund Equity/1Vet Position The Successor Agency Private Purpose Trust Fund had negative net position of $13,672,633 due to long- term debt outstanding for bonds used to finance various downtown improvements. The Planning Cost Recovery Fund had a negative fund balance of $51,277. The Internal Services Fund had a negative net position of $17,844,676 due to the recording of the net pension liability. NOTE 11— FUNDS WITH EXPENDITURES EXCEEDING APPROPRIATIONS Redwood Shores Landscape Maintenance Fund and Supplemental Law Enforcement Services Fund expenditures exceeded appropriations due to unbudgeted expenditures for which there were sufficient revenue and/or fund balance available. NOTE 12 — INTERFUND TRANSFERS AND TRANSACTIONS A. Transfers The following interfund transfers were made during the year: Fund/Fund Type Receiving Transfers Fund/Fund Type Making Transfers General Fund Non Major Governmental Funds Internal Service Fund Capital Outlay Fund Non Major Governmental Funds Water Utility Fund Parking Fund Docktown Internal Service Funds Total Interfund Transfers General Fund General Funds Capital Outlay Fund General Fund Sewer Utility Fund General Fund General Fund General Fund Water Utility Fund Sewer Utility Fund Non Major Governmental Funds Internal Services Fund The reasons for these transfers are set forth below: (')Allocation of funds to support operations. (2)Reimburse General Fund for interest earned by funds supported by the General Fund. (3) Allocation of funds to construct/purchase general capital assets Amount Transferred $ 480,212 (1) 7,233 (2) 9,498,342 (3) 2,366,018 (1) 1,251,792 (1) 193,298 (1) 584,106 (1) 916,343 (1) 4,366,141 (1) 1,333,298 (1) 50,188 (1) 4,716 (1) 7,401 (1) 6,124 (1) $ 21,065,212 85 204