Laserfiche WebLink
CITY OF PLEASANTON <br /> <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2022 <br /> <br />  <br />Note 1: Summary of Significant Accounting Policies (Continued) <br /> <br />For purposes of the statement of cash flows of the proprietary funds types, cash and cash <br />equivalents include all investments, as the City operates an internal cash management pool <br />which maintains the general characteristics of a demand deposit account. <br /> <br />d. Restricted Cash and Investments <br /> <br />Restricted cash and investments include amounts held by fiscal agents for the redemption <br />of bonded debt and for acquisition and construction of capital projects, for deposits held <br />for others within the enterprise funds, and for amounts held in an irrevocable trust for <br />pension activities. <br /> <br />e. Receivables <br /> <br />During the course of normal operations, the City carries various receivable balances that <br />are shown net of allowances for doubtful accounts for taxes, interest, services, utilities <br />and special assessments. The City maintains allowances for doubtful accounts of $30,000 <br />in the Water Fund and $20,000 in the Sewer Fund. <br /> <br />f. Notes Receivable <br /> <br />For the purposes of the governmental fund financial statements, expenditures related <br />to long-term notes arising from subsidy programs are charges to operations upon funding <br />and the notes are recorded with an offset to an unavailable revenue account under the <br />deferred inflows of resources section. For the purposes of the government-wide financial <br />statements, long-term loans are not offset by unavailable revenue accounts. <br /> <br />g. Deferred Inflows/Outflows of Resources <br /> <br />In addition to assets, the statement of net position or balance sheet will report a separate <br />section for deferred outflows of resources. This separate financial statement element, <br />deferred outflows of resources, represents a consumption of net assets that applies to future <br />periods and so will not be recognized as an outflow of resources (expense/expenditure) <br />until then. In addition to liabilities, the statement of net position or balance sheet will <br />report a separate section for deferred inflows of resources. This separate financial <br />statement element, deferred inflows of resources, represents an acquisition of net assets <br />that applies to future periods and so will not be recognized as an inflow of resources <br />(revenue) until that time. <br /> <br />h. Interfund Transactions <br /> <br />Interfund transactions are reflected as either loans, services provided, reimbursements or <br />transfers. Activity between funds that are representative of lending/borrowing <br />arrangements outstanding at the end of the fiscal year are referred to as either “due to/from <br />funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., <br />the noncurrent portion of interfund loans). <br /> <br /> <br />60