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PROPRIETARY FUND FINANCIAL STATEMENTS <br />ENTERPRISE FUNDS <br />6.1.D. - Page 55 <br />WATER UTILITY FUND <br />This fund is used to account for the provision of water services to the residents of Redwood City and <br />some residents of areas adjacent to the City. All activities necessary to provide such services are <br />accounted for in these funds, including, but not limited to, administration, operations, maintenance, <br />capital improvements, financing, and billing/collections. <br />SEWER UTILITY FUND <br />This fund is used to account for the provision of sewer services to the residents of Redwood City and <br />some residents of areas adjacent to the City. All activities necessary to provide such services are <br />accounted for in these funds, including, but not limited to, administration, operations, maintenance, <br />capital improvements, financing, and billing/collections. <br />PARKING FUND <br />This fund is used to account for on -street and off-street parking operations within the boundaries of the <br />central business district of the City. All activities necessary to provide metered parking within the <br />district are accounted for in these funds, including, but not limited to, administration, operations and <br />maintenance, capital improvements, meter collection, and financing including related debt service. The <br />authority for the formation of the district and the issuance of revenue bonds are contained in the State <br />of California's Streets and Highway Code. <br />PORT OF REDWOOD CITY PORT FUND) <br />This fund is used to account for Port activities within the Port Department as defined in the City Charter. <br />These activities include, but are not limited to, administration, maintenance and operations, and Port <br />improvements. Management of the Port of Redwood City is provided by the Port Commission, whose <br />members are appointed for four-year terms by the City Council. The only limitation to the <br />commissioner's authority is the power to levy taxes, which must be approved by the City Council. Also, <br />the City Charter provides that the City Treasurer is the Port Treasurer and the City Attorney is the Port <br />Attorney. This fund is included in this report because both the Bureau of Census and the State of <br />California require the City to include a summary of the Port's financial transactions in the respective <br />reports. <br />DOCKTOWN MARINA <br />This fund is used to account for the operation of the Docktown Marina including administration, <br />operations, maintenance and billing/collections. <br />INTERNAL SERVICE FUNDS <br />These funds are used to account for the financing of goods and services provided by one City <br />department to others on a cost reimbursement basis. Internal service funds are included with <br />enterprise funds as both use the same accounting and financial reporting. <br />28 <br />