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City of Redwood City 6.1.F. - Page 93 Notes to the Basic Financial Statements For the year ended June 30, 2012 NOTE 12—INTERFUND TRANSFERS AND TRANSACTIONS A. Transfers The following interfund transfers were made during the year: Fund Receiving Transfers Fund Making Transfers Amount Transferred General Fund Non-major Governmental Funds $ 250,000 �1� Capital Outlay Fund 174,258 �Z� Internal Service Funds 14,417 �Z� Capital Outlay Fund General Fund 8,513,853 �3� Non-major Governmental Funds General Fund 4,459,548 �3� �a� �6� Capital Outlay Fund 1,254,000 �3� Redevelopment Agency Fund 3,087,675 �5� Low and Moderate Income Housing Fund 308,600 �5� Parking Fund General Fund 607,867 �4� Total Interfund Transfers $ 18,670,218 The reasons for these transfers are set forth below: �l� Reimburse General Fund for expenditures incurred for maintenance in the Redwood Shores area. �Z� Reimburse General Fund for interest earned by funds supported by the General Fund. �3�Allocation of funds to construct/purchase general capital assets. �4�Allocation of funds to support operations. �5�Transfer of amounts required to fund debt service payments. �6�Transfer of land held for redevelopment. 8. Short-Term Due to/From other Funds At the end of the fiscal year the General Fund had net utility users tax receivable in the amount of $1,173,233. The policy of the City Council dictates the transfer of utility users tax to the Capital Outlay Fund, and once the revenue is received, the General Fund will transfer the cash to the Capital Outlay Fund. Receivable Fund Payable Fund Amount Due to/From Capital Outlay Fund General Fund $ 1,173,233 C. Long-Term Interfund Loans Fund Receiving Advance Fund Making Advance Amount of Advance Successor Agency Fund Capital Outlay Fund $ 2,269,543 Low and Moderate Income Housing asset fund 1,687,703 Total Long-Term Interfund Loans $ 3,957,246 65