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6.1.E. - Page 81 ,
<br /> Notes to the Basic Financial Statements
<br /> For the year ended June 30, 2015
<br /> NOTE 4—CAPITAL ASSETS(CONTINUED)
<br /> Business-Type Activities
<br /> Water Utility Fund $ 2,959,909
<br /> Sewer Utility fund 581,078
<br /> Parking Fund 579,103
<br /> Dock Town 32,258
<br /> Port of Redwood City 1,008,924
<br /> Total Depreciation Expense-Business-Type Activities $ 5,161,272
<br /> NOTE 5—INVESTMENT IN SILICON VALLEY CLEAN WATER AUTHORITY
<br /> Redwood City has an investment of$25,340,631 in a joint powers authority (JPA) with the cities of San
<br /> Carlos, Belmont, and the West Bay Sanitation District. In addition, the City has an investment of
<br /> $3,610,592, in Silicon Valley Clean Water Authority (SVCW) stage II construction. SVCW operates and
<br /> maintains a sewer plant which was jointly constructed with federal and state grants and contributions
<br /> from participating entities. SVCW is run by its board of directors which is comprised of four members.
<br /> The city councils of each member city and the board of the West Bay Sanitation District each select one
<br /> of their own members to serve on this board. No member agency has control of SVCW's budget,
<br /> finances, or operations. The board acts 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, 2015 is as follows:
<br /> $
<br /> Total Assets 264,267,737
<br /> Deferred Outflows of Resources 1,203,805
<br /> Total Liabilities 197,984,545
<br /> Deferred Inflows of Resources 2,073,330
<br /> Total Net Position 65,413,667
<br /> Total Operating Revenues 32,831,465
<br /> Total Operating Expenses 26,236,892
<br /> Total Operating Income (loss) 6,594,573
<br /> Other Income (loss) (4,370,460)
<br /> Net Income (loss) 2,224,113
<br /> $
<br /> Cumulative Agency Balances:
<br /> Belmont 17,268,060
<br /> San Carlos 5,057,548
<br /> Redwood City 28,951,223
<br /> West Bay Sanitation District 14,136,836
<br /> Total Net Position 65,413,667
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