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7.1.G. - Page 97 <br /> Notes to the Basic Financial Statements <br /> For the year ended June 30, 2013 <br /> NOTE 12 — INTERFUND TRANSFERS AND TRANSACTIONS <br /> A. Transfers <br /> The following interfund transfers were made during the year: <br /> Fund Receiving Transfers Fund Making Transfers Amount Transferred <br /> General Fund Non -major Governmental Funds $ 250,000 (1) <br /> Capital Outlay Fund 120,521 (2) <br /> Internal Service Funds 14,116 (2) <br /> Capital Outlay Fund General Fund 7,593,315 (3) <br /> Non -major Governmental Funds General Fund 1,325,565 ( (4) <br /> Capital Outlay Fund 627,352 (3) <br /> Non -major Governmental Funds 3,292,748 (6) <br /> Sewer Fund Non -major Governmental Funds 31,323 (') <br /> Parking Fund General Fund 441,572 (4) <br /> Internal Services Fund General Fund 100,000 (4) <br /> Internal Services Fund 1,465,345 (4) <br /> Total Interfund Transfers $ 15,261,857 <br /> The reasons for these transfers are set forth below: <br /> (1) Reimburse General Fund for expenditures incurred for maintenance in the Redwood Shores area. <br /> (2) Reimburse General Fund for interest earned by funds supported by the General Fund. <br /> (3) Allocation of funds to construct /purchase general capital assets. <br /> (4) Allocation of funds to support operations. <br /> (5) Transfer of amounts required to fund debt service payments. <br /> (6) Transfer of refunding lease proceeds to refund bonds. <br /> (7) Reimburse for expenses incurred. <br /> 8. Short -Term Due to /From other Funds <br /> At the end of the fiscal year the General Fund had net utility users tax receivable in the amount of <br /> $811,980. The policy of the City Council dictates the transfer of utility users tax to the Capital Outlay <br /> Fund, and once the revenue is received, the General Fund will transfer the cash to the Capital Outlay <br /> Fund. <br /> Receivable Fund Payable Fund Amount Due to /From <br /> Capital Outlay Fund General Fund $ 811,980 <br /> 69 <br />