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6.1.B. - Page 51 CITY OF REDWOOD CITY, CALIFORNIA
<br /> PROPRIETARY FUNDS
<br /> STATEMENTOF NETASSETS
<br /> JUNE 30, 2011
<br /> Business-Type Activities-Enterprise Funds Governmental
<br /> Water Sewer Activities-
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br /> $ $ $ $ $ $
<br /> ASSETS
<br /> Current assets:
<br /> Cash and investments available for operations 16,497,691 5,336,968 464,857 17,116,185 39,415,701 23,529,801
<br /> Receivables (net of allowance for uncollectibles):
<br /> Accounts 2,145,681 1,158,374 12,088 751,814 4,067,957 17,269
<br /> Accrued interest 27,222 27,222
<br /> Due from other governmental agencies 375 1,114,743 2,212,229 3,327,347 193,781
<br /> Inventory of supplies at cost 160,828
<br /> Advancesto otherfunds 500,000
<br /> Deposits 250,000
<br /> Prepaid items 5,330 30,870 238,306 274,506 9,347
<br /> Total current assets 18,676,299 7,610,085 507,815 20,318,534 47,112,733 24,661,026
<br /> Noncurrent assets:
<br /> Cash and investments, restricted 7,683,776 900,527 8,584,303
<br /> Capital assets:
<br /> Nondepreciable 18,473,122 1,438,989 822,913 5,329,980 26,065,004
<br /> Depreciable buildings, property, equipment
<br /> and infrastructure, net 93,514,918 15,115,671 24,794,198 12,104,321 145,529,108 8,632,499
<br /> Unamortized bond issuance costs 1,097,079 153,411 1,250,490
<br /> Investment in sewer authority 33,294,052 400,000 33,694,052
<br /> Total noncurrent assets 120,768,895 49,848,712 25,617,111 18,888,239 215,122,957 8,632,499
<br /> Total assets 139,445,194 57,458,797 26,124,926 39,206,773 262,235,690 33,293,525
<br /> LIABILITIES
<br /> Current liabilities:
<br /> Accounts payable 2,587,245 952,933 57,857 1,320,865 4,918,900 560,467
<br /> Deposits payable 680,147 25,044 140,209 845,400
<br /> Insurance claims payable - current portion 2,980,087
<br /> Accrued sick leave and vacation - current portion 163,315 85,689 39,044 160,088 448,136 345,509
<br /> Revenue bonds payable - current portior 1,783,709 265,500 2,049,209
<br /> Loans/leases payable- current portion 30,273 30,273
<br /> Unearned revenue 2,335,750 211,453 2,547,203
<br /> Accrued interest payable 1,195,001 58,737 1,253,738
<br /> Total current liabilities 8,745,167 1,038,622 121,945 2,187,125 12,092,859 3,886,063
<br /> Noncurrent liabilities:
<br /> Insurance claims payable 7,971,873
<br /> Accrued sick leave and vacation 194,108 106,998 83,673 384,779 538,101
<br /> Net OPEB obligation 297,594 111,824 51,076 84,616 545,110 477,633
<br /> Revenue bonds payable 66,155,292 8,061,544 74,216,836
<br /> Loans payable 1,300,000 489,182 1,789,182
<br /> Total noncurrent liabilities 66,646,994 218,822 1,434,749 8,635,342 76,935,907 8,987,607
<br /> Totalliabilities 75,392,161 1,257,444 1,556,694 10,822,467 89,028,766 12,873,670
<br /> NET ASSETS
<br /> Invested in capital assets,
<br /> net of related debt 44,049,039 16,554,660 24,317,111 16,914,846 101,835,656 8,632,499
<br /> Restricted for capital projects 251,217 251,217
<br /> Restricted for debt service 4,861,452 725,963 5,587,415
<br /> Unrestricted 15,142,542 39,646,693 (96) 10,743,497 65,532,636 11,787,356
<br /> Total net assets 64,053,033 56,201,353 24,568,232 28,384,306 173,206,924 20,419,855
<br /> See accompanying notes to financial statements
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