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City of Redwood City 7.1.A. - Page 79
<br /> Notes to the Basic Financial Statements
<br /> For the year ended June 30, 2014
<br /> NOTE 4 — CAPITAL ASSETS (CONTINUED)
<br /> Governmental Activities
<br /> $
<br /> Community Development 216,438
<br /> Human Services 82,959
<br /> Public Safety 1,196,420
<br /> Transportation 4,364,062
<br /> Leisure, cultural, and information services 1,950,916
<br /> Policy development and implementation 805,681
<br /> Environmental support and protection 345,257
<br /> Total Depreciation Expense - Governmental Activities 8,961,733
<br /> Business -Type Activities
<br /> Water Utility Fund 2,918,486
<br /> Sewer Utility fund 523,563
<br /> Parking Fund 579,103
<br /> Dock Town 32,258
<br /> Port of Redwood City 1,085,224
<br /> Total Depreciation Expense- Business -Type Activities 5,138,634
<br /> NOTE 5 — INVESTMENT IN SILICON VALLEY CLEAN WATER AUTHORITY
<br /> Redwood City has an investment of $27,309,412 in a joint powers authority (JPA) with the cities of San
<br /> Carlos, Belmont, and the West Bay Sanitation District. In addition, the City and the Port of Redwood
<br /> City have investments of $4,801,729 and $400,000, respectively, in Silicon Valley Clean Water Authority
<br /> (SVCW) stage 11 construction. SVCW operates and maintains a sewer plant which was jointly
<br /> constructed with federal and state grants and contributions from participating entities. SVCW is run by
<br /> its board of directors which is comprised of four members. The city councils of each member city and
<br /> the board of the West Bay Sanitation District each select one of their own members to serve on this
<br /> board. No member agency has control of SVCW's budget, finances, or operations. The board acts
<br /> autonomously of the respective member agencies.
<br /> Audited financial statements are available from Silicon Valley Clean Water Authority, 1400 Radio Road,
<br /> Redwood City, CA 94065.
<br /> The condensed unaudited financial information of the JPA as of June 30, 2014 is as follows:
<br /> $
<br /> Total Assets 230,094,531
<br /> Total Liability 155,718,113
<br /> Total Net Position 74,376,418
<br /> Total Operating Revenues 33,530,273
<br /> Total Operating Expenses 26,912,311
<br /> Total Operating Income (loss) 6,617,962
<br /> Other Income (loss) (3,590,727)
<br /> Net Income (loss) 3,027,235
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