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<br /> CITY OF REDWOOD CITY, CALIFORNIA
<br /> PROPRIETARY FUNDS
<br /> STATEMENT OF NET ASSETS
<br /> JUNE 30, 2005
<br /> Business-Type Activities-Enterprise Funds Governmental
<br /> Water Sewer Activities-
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br /> $ $ $ $ $ $
<br />ASSETS
<br />Current assets:
<br />Cash and investments available for operations 17,204,236 2,089,682 1,000,551 10,974,604 31,269,073 14,742,126
<br />Receivables (net of al1owance for uncol1ectibles):
<br />Accounts 1,277,781 564,620 1,625 513,445 2,357,471 27,370
<br />Accrued interest 160,998 160,998
<br />Due from other governmental agencies 505,915 505,915 83,931
<br />Inventory of supplies at cost 242,733
<br />Deposits 295,603
<br />Prepaid expenses 1,934 191,104 193,038
<br />Total current assets 18,644,949 3,160,217 1,002,176 11,679,153 34,486,495 15,391,763
<br />Noncurrent assets:
<br />Cash and investments, restricted 28,837,227 1,547,022 30,384,249
<br />Capital assets:
<br />Nondepreciable 5,346,043 927,801 23,390,707 29,664,551
<br />Depreciable buildings, property, equipment
<br />and infrastructure, net 28,460,195 11,903,380 4,928,880 10,525,397 55,817,852 5,579,581
<br />Unamortized bond discounts & issuance costs 770,274 524,632 1,294,906
<br />Investment in sewer authority 18,029,631 18,029,631
<br />Investment in sewage capacity rights 2,046,643 400,000 2,446,643
<br />Advances to South Bayside System Authority 4,378,118 4,378,118
<br />Total noncurrent assets 67,791,857 31,979,654 5,856,681 36,387,758 142,015,950 5,579,581
<br />Total assets 86,436,806 35,139,871 6,858,857 48,066,91 I 176,502,445 20,971,344
<br />LIABILITIES
<br />Current liabilities:
<br />Accounts payable 3,031,553 427,828 3,560 644,152 4,107,093 617,994
<br />Deposits payable 90,444 12,112 155,698 258,254
<br />Insurance claims payable 8,953,720
<br />Accrued sick leave and vacation - current portion 168,010 90,284 4,516 104,777 367,587 281,466
<br />Environmental liability 4,217,700 4,217,700
<br />Revenue bonds payable - current portion 830,000 210,000 1,040,000
<br />Loans/leases payable - current portion 23,232 23,232
<br />Deferred revenue 167,082 167,082
<br />Accrued interest payable 477,304 70,81 I 548,115
<br />Total current liabilities 4,597,311 518,112 20,188 5,593,452 10,729,063 9,853,180
<br />Noncurrent liabilities:
<br />Accrued sick leave and vacation 212,879 145,367 11,985 370,231 465,835
<br />Revenue bonds payable 34,960,000 9,815,000 44,775,000
<br />Loans payable 1,300,000 651,910 1,951,910
<br />Total noncurrent liabilities 35,172,879 145,367 1,311,985 10,466,910 47,097,141 465,835
<br />Total liabilities 39,770,190 663,479 1,332,173 16,060,362 57,826,204 10,319,015
<br />NET ASSETS
<br />Invested in capital assets,
<br />net of related debt 2,394,356 11,903,380 4,556,681 19,744,583 38,599,000 5,579,581
<br />Restricted for capital projects 23,925,160 115,824 24,040,984
<br />Restricted for debt service 2,188,373 1,193,304 3,381,677
<br />Unrestricted 18,158,727 22,573,012 970,003 10,952,838 52,654,580 5,072,748
<br />Total net assets 46,666,616 34,476,392 5,526,684 32,006,549 118,676,241 10,652,329
<br /> See accompanying notes to financial statements
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