AgdaPkt 2011-01-10 - Laserfiche WebLink

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6.1 B Page 80 NOTE ZO — NET ASSETS AND FUND BALANCES �CONTINUED) C. Recontiliation of General Fund Fund ealance to Governmental Attivities Unrestritted Net Assets As of June 30, 2010, unrestricted net assets of governmental activities reconciles with the general fund fund balance as follows: Reconciliation of General Fund Fund Balance to Governmental Activities Unrestricted Net Assets General Fund Fund Balance $ 24,723,971 Add Unrestricted Net Assets of the following funds: Capital Projects Funds Capital Outlay Fund 22,219,720 Internal Service Funds Equipment Services 6,894,970 Self Insurance 1,169,849 Internal Services 702,479 Employee Benefits 2,564,783 Add: Accrued Interest Receivable 113,027 Deferred Revenue 723,197 Unamortized bond issuance costs 1,280,901 Deduct: Compensated Absences (8,759,160) Net OPEB obligation (5,749,379) Debt issued for purposes other than capital assets (8,717,909) Unrestricted Net Assets of Governmental Activities $ 37,166,449 Funds not listed in the above reconciliation had no unrestricted net assets at June 30, 2010. D. Deficit Fund Equity/Net Assets The Redevelopment Agency fund had a deficit fund balance of $348,543 due to the required but unplanned payment to the State of California as the State experienced budget difficulties, and relied on local agencies to provide financial assistance. NOTE 11 FUNDS WITH EXPENDITURES EXCEEDING APPROPRIATIONS The budgetary expenditures exceeded appropriations in the Redevelopment Agency fund due to the unplanned payment to the State of California. Sufficient revenues were not available to fund this payment and therefore, funds were advanced from the Low and Moderate Income Housing fund. The budgetary expenditures exceeded appropriations in the 1997 Tax Allocation Refunding bonds fund due to unbudgeted arbitrage rebate penalty paid to the Federal government. Sufficient revenues were available to fund these expenditures. 57