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<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />STATEMENT OF NET ASSETS
<br />JUNE 30, 2004
<br />
<br />Governmental Business- Type
<br />Activities Activities Total
<br />$ $ $
<br />118,707,579 23,637,138 142,344,717
<br />27,245,998 1,803,499 29,049,497
<br />
<br />ASSETS
<br />Cash and investments available for operations
<br />Cash and investments, restricted
<br />Receivables (net of allowance for uncollectibles):
<br />Taxes and assessments - current
<br />
<br />Accounts
<br />Loans
<br />
<br />4,951,871 4,951,871
<br />1,230,022 3,235,940 4,465,962
<br />12,447,435 12,447,435
<br />1,111,917 1,111,917
<br />5,508,951 5,508,951
<br />514,042 42,390 556,432
<br />(6,000,000) 6,000,000
<br />1,348,784 1,348,784
<br />11,128 200,731 211,859
<br />15,592,818 15,592,818
<br />
<br />Accrued interest
<br />Due from other governmental agencies
<br />Inventory of supplies at cost
<br />Internal balances
<br />
<br />Deposits
<br />Prepaid expenses
<br />Investment in land held for redevelopment
<br />Capital assets:
<br />Nondepreciable
<br />Depreciable buildings, property, equipment and infrastructure, net
<br />Unamortized bond discounts & issuance costs
<br />Investment in sewer authority
<br />Investment in sewage capacity rights
<br />
<br />60,044,826
<br />107,196,588
<br />1,688,756
<br />
<br />27,298,958
<br />55,277,653
<br />535,098
<br />19,716,828
<br />1,839,668
<br />
<br />139,587,903
<br />
<br />87,343,784
<br />162,474,241
<br />2,223,854
<br />19,716,828
<br />1,839,668
<br />
<br />491,188,618
<br />
<br />Total assets
<br />
<br />351,600,715
<br />
<br />LIABILITIES
<br />
<br />Accounts payable
<br />Accrued interest payable
<br />Accrued payroll
<br />Deposits payable
<br />Insurance claims payable
<br />Deferred revenue
<br />Accrued sick leave and vacation
<br />
<br />7,413,069
<br />1,781,153
<br />2,695,501
<br />3,487,712
<br />7,128,314
<br />828,755
<br />7,437,603
<br />
<br />3,504,073
<br />72,478
<br />
<br />288,477
<br />
<br />10,917,142
<br />1,853,631
<br />2,695,501
<br />3,776,189
<br />7,128,314
<br />994,672
<br />8,132,685
<br />3,643,500
<br />
<br />Environmental liability
<br />Long- Term Debt:
<br />Due in one year
<br />Due in more than one year
<br />
<br />165,917
<br />695,082
<br />3,643,500
<br />
<br />Total liabilities
<br />
<br />4,693,378
<br />76,976,615
<br />
<br />112,442,100
<br />
<br />222,231
<br />12,000,142
<br />
<br />20,591,900
<br />
<br />4,915,609
<br />88,976,757
<br />
<br />133,034,000
<br />
<br />NET ASSETS
<br />Invested in capital assets, net of related debt
<br />Restricted for:
<br />Capital projects
<br />Debt service
<br />
<br />113,368,966
<br />
<br />67,463,967
<br />
<br />180,832,933
<br />
<br />Community development projects
<br />Other purposes
<br />
<br />47,395,866
<br />7,245,659
<br />41,342,992
<br />3,330,068
<br />
<br />394,578
<br />1,170,526
<br />
<br />47,790,444
<br />8,416,185
<br />41,342,992
<br />3,330,068
<br />
<br />Total restricted net assets
<br />
<br />99,314,585
<br />
<br />1,565,104
<br />
<br />100,879,689
<br />
<br />Unrestricted net assets
<br />
<br />Total unrestricted net assets
<br />
<br />26,475,064
<br />26,475,064
<br />
<br />49,966,932
<br />49,966,932
<br />
<br />76,441,996
<br />76,441,996
<br />
<br />Total net assets
<br />
<br />239,158,615
<br />
<br />118,996,003
<br />
<br />358,154,618
<br />
<br />See accompanying notes to financial statements
<br />
<br />14
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