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6.1.F. - Page 98 , <br /> Notes to the Basic Financial Statements <br /> For the year ended June 30, 2012 <br /> NOTE 16—CONSTRUCTION,OTHER$IGNIFICANT COMMITMENTS AND ENCUMBRANCES <br /> As of June 30, 2012, the City has the following significant commitments: $2,050,235 for consulting <br /> services associated with Saltworks (to be reimbursed by the developer). <br /> Purchase orders are issued throughout the fiscal year to encumber the budgets in the governmental <br /> funds. Following are the outstanding encumbrances as of June 30, 2012: <br /> Major Funds: <br /> General Fund $ 2,580,390 <br /> Capital Outlay Fund 442,647 <br /> Total Major Funds 3,023,037 <br /> Non-Major Funds 628,171 <br /> Total Encumbrances $ 3,651,208 <br /> NOTE 17—$OUTH BAYSIDE WASTE MANAGEMENT AUTHORITY <br /> Redwood City is a member of the South Bayside Waste Management Authority (SBWMA), a joint powers <br /> authority established to purchase the solid waste transfer station located in San Carlos, California from <br /> Browning-Ferris Industries. Currently there are 12 public entities that are members of this organization. <br /> Each of these members also, by individual and separate legislative action, has entered into a franchise <br /> agreement with Recology for solid waste collection within their respective jurisdictions. <br /> The SBWMA issued $20 million in bonds in 1999 to provide funds for the purchase of the transfer <br /> station. The debt issued by the SBWMA is not an obligation of any of the member entities. During FY <br /> 2009/10, SBWMA issued $58.5 million in bonds to finance improvements at the solid waste transfer <br /> station, and the remaining balance of the 1999 bonds were retired. <br /> The SBWMA also serves as a regional forum for member entities to collectively pursue other solid waste <br /> management matters such as rate setting, solid waste reduction, and meeting recycling goals as required <br /> by state law. <br /> Audited financial statements are available from the SBWMA, c/o the City of San Carlos, 600 Elm Street, <br /> San Carlos, CA 94070. The following is SBWMA's condensed unaudited financial results for the year- <br /> ended June 30, 2012. <br /> Total assets $ 86,522,067 <br /> Totalliabilities 63,013,205 <br /> Total equity $ 23,508,862 <br /> 70 <br />