City of Santa Cruz
Comprehensive Annual Financial ReportFor the year ended June 30, 2008Table of Contents
PageINTRODUCTORY SECTION
Transmittal Letter......................................................................................................................................................iGFOA Certificate of Achievement for Excellence in Financial Reporting.........................................................ixMap of Santa Cruz.....................................................................................................................................................xOrganization Chart ...................................................................................................................................................xiDirectory of City Officials of the City of Santa Cruz............................................................................................xii
FINANCIAL SECTIONIndependent Auditors’ Report
...............................................................................................................................1
Management’s Discussion and Analysis
.............................................................................................................3
Basic Financial Statements:
Government-Wide Financial Statements:Statement of Net Assets...............................................................................................................................20Statement of Activities and Changes in Net Assets ................................................................................22Fund Financial Statements:
Government Fund Financial Statements
:Balance Sheet..........................................................................................................................................28Reconciliation of the Governmental Funds Balance Sheetto the Government-Wide Statement of Net Assets.....................................................................29Statement of Revenues, Expenditures and Changes in Fund Balances.........................................30Reconciliation of the Governmental Funds Statement of Revenues,Expenditures and Changes in Fund Balances to the Government-WideStatement of Activities and Changes in Net Assets ...................................................................31
Proprietary Fund Financial Statements:
Statement of Net Assets........................................................................................................................34Statement of Revenues, Expenses and Changes in Net Assets.......................................................38Statement of Cash Flows.......................................................................................................................40
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Assets......................................................................................................46Statement of Changes in Fiduciary Net Assets..................................................................................47Index to Notes to Basic Financial Statements .................................................................................................49Notes to Basic Financial Statements.................................................................................................................51