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CITY OF REDWOOD CITY <br />FIDUCIARY FUNDS <br />STATEMENT OF CHANGES IN NET POSITION <br />FOR THE FISCAL YEAR ENDED JUNE 30, 2017 <br />Successor Agency <br />Private Purpose <br />Trust Fund <br />$ <br />ADDITIONS <br />Property taxes 6,109,943         <br />Investment earnings 72,566 <br />Total additions 6,182,509 <br />DEDUCTIONS <br />Community development 758,584 <br />Depreciation 515,979 <br />Interest and fiscal agency expenses of former redevelopment agency 2,797,941 <br />Total deductions 4,072,504 <br />Change in net position 2,110,005 <br />Net position ‐ beginning, as restated (18,467,683) <br />Net position ‐ ending (16,357,678) <br />See accompanying notes to financial statements <br />34 <br />6.1.E. - Page 57