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City of Redwood City 7.1.G. - Page 102 <br /> Notes to the Basic Financial Statements <br /> For the year ended June 30, 2013 <br /> NOTE 16 — CONSTRUCTION, OTHER SIGNIFICANT COMMITMENTS AND ENCUMBRANCES <br /> As of June 30, 2013, the City has the following significant commitments: <br /> $994,155 - to purchase of 7,400 new Smart Meters <br /> $555,829 - for modification of City Hall Second Floor <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, 2013: <br /> Major Funds: <br /> General Fund $ 489,127 <br /> Capital Outlay Fund 1,303,541 <br /> Total Major Funds 1,792,668 <br /> Non -Major Funds 1,267,099 <br /> Total Encumbrances $ 3,059,767 <br /> NOTE 17 — SOUTH BAYSIDE WASTE MANAGEMENT AUTHORITY <br /> The 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 <br /> required 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, 2013. <br /> Total assets $ 83,155,658 <br /> Total liabilities 60,814,766 <br /> Total net position $ 22,340,892 <br /> 74 <br />