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Government Finance Officers Association
Certificate of
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City of Redondo Beach
California
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Financial Report
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June 30, 2021
Executive Director/CEO
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CITY OF REDONDO BEACH

MAYOR AND CITY COUNCIL
Bill Brand
Mayor

CITY OFFICIALS
Joseph Hoefgen
City Manager
Michael Witzansky
Assistant City Manager
Stephen Proud
Waterfront and Economic Development Director
Chris Benson
Information Technology Director
Jennifer Paul
Finance Director
Nils Nehrenheim
Councilmember
District 1
Todd Loewenstein
Councilmember
District 2
Christian Horvath
Councilmember
District 3
Zein Obagi, Jr.

Councilmember
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Laura Emdee
Councilmember
District 5
Michael Webb
City Attorney
Cameron Harding
Community Services Director
Eleanor Manzano
City Clerk
Steven Diels
City Treasurer
Brandy Forbes
Community Development Director
Susan Anderson
Library Director
Ted Semaan
Public Works Director
Diane Strickfaden
Human Resources Director
Keith Kauffman
Interim Fire Chief
Keith Kauffman
Chief of Police
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Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements


CITY OF REDONDO BEACH

BALANCE SHEET

GOVERNMENTAL FUNDS
JUNE 30, 2022
General
Assets:

Pooled cash and investments 15,469,649 $ - $ 1,373,280 $ Receivables:

Accounts 3,192,800 429,000 -
Taxes 6,555,813 - -
Accrued interest 210,047 - -
Notes and loans 18,605 - 2,647,951
Leases 4,137,426 - -
Prepaid costs 52,821 57,000 -
Due from other governments 5,136,813 7,016,518 -
Due from other funds 6,809,022 - -
Advances to Successor Agency - - 535,731
Restricted assets:

Cash and investments with fiscal agents 701,717 - -
Total Assets 42,284,713 $ $ 4,556,962 7,502,518 $
Liabilities, Deferred Inflows of Resources,
and Fund Balances:

Liabilities:

Accounts payable 2,121,704 $ 1,393,487 $ 22,102 $
Accrued liabilities 3,196,699 - -
Unearned revenues 94,673 261,616 -
Deposits payable 3,206,981 - -
Due to other funds - 5,828,029 303,213
Pollution remediation liability 150,000 - -
Total Liabilities 8,770,057 7,483,132 325,315
Deferred Inflows of Resources:

Unavailable revenues 31,075 6,878,141 389,992
Deferred leases related items 4,114,583 - -
Total Deferred Inflows of Resources 4,145,658 6,878,141 389,992 Fund Balances:

Nonspendable:

Prepaid costs 52,821 - -
Notes and loans 18,605 - -
Restricted for:

Housing and community development - - -
Public safety -- -
Public works -- -
Debt service -- -
Low and moderate income housing -- 3,841,655
Committed to:

Contingency 8,599,208 - -
Assigned to:

Capital projects -- -
Compensated absences 785,832 - -
Future pension payments 7,975,721 - -
Continuing operations 11,660,275 - -
Unassigned 276,536 (6,858,755) -
Total Fund Balances 29,368,998 (6,858,755) 3,841,655
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 42,284,713 $ $ 4,556,962 7,502,518 $ Special Revenue Funds
Other
Intergovernmental
Grants
Low-Mod Income
Housing
See Notes to Financial Statements. 34

CITY OF REDONDO BEACH

BALANCE SHEET

GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments
Receivables:

Accounts
Taxes
Accrued interest
Notes and loans
Leases
Prepaid costs
Due from other governments
Due from other funds
Advances to Successor Agency
Restricted assets:

Cash and investments with fiscal agents
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances:

Liabilities:

Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Pollution remediation liability
Total Liabilities
Deferred Inflows of Resources:

Unavailable revenues
Deferred leases related items
Total Deferred Inflows of Resources
Fund Balances:

Nonspendable:

Prepaid costs
Notes and loans
Restricted for:

Housing and community development
Public safety
Public works
Debt service
Low and moderate income housing
Committed to:

Contingency
Assigned to:

Capital projects
Compensated absences
Future pension payments
Continuing operations
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Debt Service
Funds
Other Total
Governmental Governmental
Funds Funds
$ 35,546,532 2,976,655 $ $ 55,366,116
4,856 124,616 3,751,272
- 445,473 7,001,286
334 44,695 255,076
- 326,229 2,992,785
1,545,495 - 5,682,921
- - 109,821
4,891,240 313,095 17,357,666
544,986 3,054,145 10,408,153
- - 535,731
7,324 - 709,041
$ 39,854,785 9,970,890 $ $ 104,169,868
$ 476 $ 4,688,163 1,150,394 $
- - 3,196,699
- - 356,289
- - 3,206,981
3,399,779 528,688 10,059,709
- - 150,000
3,400,255 1,679,082 21,657,841
- 538,428 7,837,636
1,535,683 - 5,650,266
1,535,683 538,428 13,487,902
- - 52,821
- - 18,605
- 13,095,608 13,095,608
- 580,712 580,712
- 7,234,872 7,234,872
5,034,952 6,061 5,041,013
- 1,581,064 5,422,719
- - 8,599,208
- 15,208,719 15,208,719
- - 785,832
-- 7,975,721
- - 11,660,275
- (69,761) (6,651,980)
5,034,952 37,637,275 69,024,125
$ 39,854,785 9,970,890 $ $ 104,169,868
Public Financing
Authority
See Notes to Financial Statements. 35
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