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6.C. - Page 118 of 196 <br />CITY OF REDWOOD CITY <br />NOTES TO THE BASIC FINANCIAL STATEMENTS <br />For the Fiscal Year Ended June 30, 2020 <br />NOTE 12 — INTERFUND TRANSFERS AND TRANSACTIONS (CONTINUED) <br />B. Short -Term Due to/From other Funds <br />At the end of the fiscal year the general fund had net utility users tax receivable in the amount of $967,342. <br />The policy of the City Council dictates the transfer of utility users tax to the capital outlay fund, and once the <br />revenue is received, the general fund will transfer the cash to the capital outlay fund. The $674,177 owned to <br />the General Fund from the planning cost recovery fund is related to the negative cash in the planning cost <br />recover fund at June 30, 2020. The $300,000 is related to the long-term advance and is the current portion <br />due. <br />Receivable Ftind <br />General Fund <br />Capital Outlay Fund <br />Internal Service Fund <br />C. Long -Term Interfund Loans <br />Payable Fund Amount Due to/From <br />Planning Cost Recovery Fund <br />General Fund <br />Water Utility Fund <br />$ 674,177 <br />967,342 <br />300,000 <br />$ 1,941,519 <br />Fund Receiving Advance Fund Making Advance Amount of Advance <br />Water Utility Fund Equipment Service Fund $ 600,000 <br />Total Long-term Interfund Loans $ 600,000 <br />During FY 2012-13, the equipment services internal service fund advanced $3,000,000 to the water utility <br />enterprise fund for the implementation of the Automated Meter Infrastructure Project to replace water <br />meters. During FY 2019-20 the water utility enterprise fund repaid $300,000 to the equipment services <br />internal service Fund. As of June 30, 2020, $300,000 of this advance is considered current. <br />NOTE 13 — RISK MANAGEMENT AND SELF-INSURANCE FUND <br />A. Workers' Compensation and Property Insurance <br />The City is self-insured for workers' compensation for the first $350,000 per occurrence and has a <br />commercial insurance policy that covers the City's exposure above the retained limits up to the statutory <br />limits required by the State of California. The City paid $562,800 during FY 2019-20 for the coverage. <br />The City's workers' compensation policy includes coverage for the Port of Redwood City. The Port carries <br />property and liability insurance policies with limits of $15,000,000 and $150,000,000, respectively. <br />86 205 <br />