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CITY OF REDWOOD CITY, CALIFORNIA
<br />PROPRIETARY FUNDS
<br />STATEMENT OF NET POSITION
<br />JUNE 30, 2017
<br />Business‐Type Activities‐Enterprise Funds Governmental
<br />Water Sewer Non‐Major Activities‐
<br />Utility Utility Parking Port of Docktown Internal Service
<br />Fund Fund Fund Redwood City Marina Totals Funds
<br />$$$$$$$
<br />ASSETS
<br />Current assets:
<br />Cash and investments available for operations 30,824,060 31,507,972 9,171,661 16,844,610 4,739,907 93,088,210 41,022,719
<br />Receivables (net of allowance for uncollectibles):
<br />Accounts 3,406,402 1,866,852 103,012 792,107 69,153 6,237,526 61,658
<br />Accrued interest 7 7 8,212
<br />Due from other governmental agencies 732,858 1,753,227 2,486,085 281,853
<br />Due from other funds 300,000
<br />Inventory of supplies at cost 120,852
<br />Deposits 10,360 10,360 535,000
<br />Prepaid items and other assets 48,801 12,591 273,920 335,312 71,724
<br />Total current assets 35,022,488 35,140,642 9,274,673 17,910,637 4,809,060 102,157,500 42,402,018
<br />Noncurrent assets:
<br />Cash and investments, restricted 47,112 5,400,889 1,060,764 6,508,765
<br />Advances to other funds 1,500,000
<br />Investment in sewer authority 39,863,182 39,863,182
<br />Investment in sewer capacity rights 400,000 400,000
<br />Capital assets:
<br />Nondepreciable 2,119,490 7,133,355 1,945,331 6,098,188 17,296,364 199,647
<br />Depreciable buildings, property, equipment
<br /> and infrastructure, net 108,857,308 26,748,546 22,082,145 28,483,997 80,646 186,252,642 8,320,066
<br />Total noncurrent assets 111,023,910 73,745,083 29,428,365 36,042,949 80,646 250,320,953 10,019,713
<br />Total assets 146,046,398 108,885,725 38,703,038 53,953,586 4,889,706 352,478,453 52,421,731
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred charge on refundings 1,458,736 232,189 1,690,925
<br />Deferred outflows ‐ pension 1,327,590 699,047 323,447 341,751 71,066 2,762,901 2,282,989
<br />Deferred employer pension contributions 793,923 404,423 243,573 198,395 33,087 1,673,401 1,336,335
<br />Total deferred outflows of resources 3,580,249 1,103,470 567,020 772,335 104,153 6,127,227 3,619,324
<br />LIABILITIES
<br />Current liabilities:
<br />Accounts payable 3,363,529 1,347,016 972,172 724,245 135,460 6,542,422 594,539
<br />Deposits payable 978,375 15,000 164,586 43,172 1,201,133
<br />Due to other funds 300,000 300,000
<br />Insurance claims payable ‐ current portion 4,674,166
<br />Accrued sick leave and vacation ‐ current portion 239,283 87,387 43,543 81,726 451,939 407,370
<br />Revenue bonds payable ‐ current portion 1,975,000 798,483 2,773,483
<br />Unearned revenue 1,956,324 81,886 175,332 2,213,542
<br />Accrued interest payable 829,088 46,464 875,552
<br />Total current liabilities 9,641,599 1,434,403 1,112,601 1,990,836 178,632 14,358,071 5,676,075
<br />Noncurrent liabilities:
<br />Insurance claims payable 19,096,327
<br />Accrued sick leave and vacation 251,580 109,635 102,339 463,554 603,806
<br />Advances from other funds 1,500,000 1,500,000
<br />Net OPEB obligation 306,124 115,029 52,540 262,219 735,912 491,322
<br />Net Pension liability 9,977,468 4,833,988 2,825,028 2,282,704 398,637 20,317,825 17,596,466
<br />Revenue bonds payable 50,493,510 13,622,598 64,116,108
<br />Total noncurrent liabilities 62,528,682 5,058,652 2,979,907 16,167,521 398,637 87,133,399 37,787,921
<br />Total liabilities 72,170,281 6,493,055 4,092,508 18,158,357 577,269 101,491,470 43,463,996
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows ‐ pension 144,642 65,198 56,300 29,186 5,096 300,422 416,947
<br />NET POSITION
<br />Net investment in capital assets 58,508,288 33,881,901 24,027,476 26,331,731 80,646 142,830,042 8,519,713
<br />Restricted for capital projects 5,400,889 5,400,889
<br />Restricted for debt service 826,308 826,308
<br />Unrestricted 18,803,436 69,549,041 5,692,885 9,380,339 4,330,848 107,756,549 3,640,399
<br />Total net position 77,311,724 103,430,942 35,121,250 36,538,378 4,411,494 256,813,788 12,160,112
<br />See accompanying notes to financial statements
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<br />6.1.E. - Page 53
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