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6.1 B
<br /> Page 79
<br /> NOTE lO— NET ASSETS AND FUND BALANCES �CONTINUED)
<br /> Street Projects - The City maintains a reserve for unexpended appropriations for capital outlay
<br /> projects within the general fund. Since these projects are funded by transfers from the general
<br /> fund, the City desires to ensure that sufficient resources will be available to transfer to the special
<br /> gas tax fund when capital outlay expenditures are incurred.
<br /> Sandpiper Park - Funds received from the sale of land to the Belmont/Redwood Shores School
<br /> District are held in reserve and will be expended over a 15-year period to supplement funding for ,
<br /> the maintenance of Sandpiper Park.
<br /> Library Bequest — Funds received by the library to be used for specific library-related programs.
<br /> Retiree Medical Benefits - The City has designated funds to be utilized in progressively funding the
<br /> annual required contribution after the City implements GASB Statement No. 45 in fiscal year
<br /> 2007/08.
<br /> General Plan - Funds received from building permits to be set aside for maintenance of the City's
<br /> general plan.
<br /> Geographic Information System (GIS) — Funds received from building permits to be set aside for
<br /> maintenance of the City's GIS computer program.
<br /> Unrealized Gain — This description represents the income recorded to mark the City's investments to
<br /> fair value. As the City intends to hold all investments to maturity, the unrealized gain will not
<br /> materialize, and therefore, it is reflected as designated fund balance.
<br /> Fund balances unreserved at lune 30, 2010 are as follow:
<br /> Schedule of Unreserved Fund Balances
<br /> Capital Redevelopment Low & Moderate
<br /> General Outlay Agency Income Housing Non-Major
<br /> Fund Fund Fund Fund Funds
<br /> Unreserved and designated for: $ $ $ $ $
<br /> Subsequent years' expenditures 17,594,163 606,073
<br /> Capital projects 1,206,498 16,298,816 8,631,198 14,169,738
<br /> Street projects 4,966,482
<br /> Sandpiper Park 807,285
<br /> Library bequest 89,712
<br /> Retiree medical benefits 700,310
<br /> General plan 188,297
<br /> Geographic Information System 33,068
<br /> Unrealized gain 405,171 222,247 205,514
<br /> Total unreserved and designated
<br /> fund balance 20,991,436 16,554,131 0 8,631,198 19,947,807
<br /> Undesignated 52,279 (1,998,401) 8,081,197
<br /> Total unreserved fund balance 20,991,43 16,606,410 (1,998,401) 8,631,198 28,029,004
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