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6.1 B <br /> CITY OF REDWOOD CITY, CALIFORNIA Page 44 <br /> RECONCILIATION OF THE <br /> GOVERNMENTAL FUNDS- BALANCE SHEET � <br /> WITH THE STATEMENT OF NET ASSETS <br /> JUNE 30, 2010 <br /> $ <br /> TOTAL FUND BALANCES -- TOTAL GOVERNMENTAL FUNDS 102,059,385 <br /> Amounts reported for Governmental Activities in the Statement of <br /> Net Assets 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 205,321,248 <br /> reported in the Governmental Funds. <br /> ALLOCATION OF INTERNALSERVICE FUND NETASSETS <br /> Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities, <br /> such as insurance and central services and maintenance, to individual governmental funds. The assets and liabilities of the <br /> Internal Service Funds are therefore included in Governmental Activities in the Statement of Net Assets. 19,743,764 <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 Funds: <br /> Interestrevenue 113,027 <br /> Deferred revenue 723,197 <br /> LONG TERM ASSETS AND LIABILITIES <br /> The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Funds: <br /> Unamortized bond issuance costs 1,280,901 <br /> Long-term debt (53,357,634) <br /> Interest payable (486,881) <br /> Accrued sick leave and vacation (8,759,160) <br /> Net OPEB obligation (5,749,379) <br /> NET ASSETS OF GOVERNMENTAL ACTIVITIES 260,888,468 <br /> See accompanying notes to financial statements <br /> 21 <br />