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<br /> CITY OF REDWOOD CITY, CALIFORNIA
<br /> PROPRIETARY FUNDS
<br /> STATEMENT OF REVENUES, EXPENSES
<br /> AND CHANGES IN FUND NET ASSETS
<br /> FOR THE YEAR ENDED 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 />Operating Revenues:
<br />Charges for services 16,311,364 11,355,174 445,723 5,950,512 34,062,773 13,460,953
<br />Total Operating Revenues 16,311,364 11,355,174 445,723 5,950,512 34,062,773 13,460,953
<br />Operating Expenses:
<br />Employee services 3,728,136 2,001,297 149,884 995,393 6,874,710 5,903,497
<br />Maintenance 725,714 497,507 45,788 160,514 1,429,523 1,775,538
<br />Water purchases 6,252,865 6,252,865
<br />Utilities 212,175 136,677 21,172 176,493 546,517 56,055
<br />Contractual services 437,927 6,121,164 7,139 932,144 7,498,374 819,345
<br />Supplies and services 4,046,920 3,582,966 99,011 903,006 8,631,903 1,516,880
<br />Depreciation and amortization 964,769 402,816 97,360 698,867 2,163,812 813,768
<br />Insurance and claims 5,066,065
<br />Total Operating Expenses 16,368,506 12,742,427 420,354 3,866,417 33,397,704 15,951,148
<br />Operating Income (Loss) (57,142) (1,387,253) 25,369 2,084,095 665,069 (2,490,195)
<br />Nonoperating Revenues (Expenses):
<br />Gain (loss) on disposal of equipment (40,790) (40,790) 60,846
<br />Property taxes 34,081 34,081
<br />Contributions 96,228
<br />Capital contributions 267,294 104,888 372,182 91,877
<br />Interest income 679,091 70,033 25,278 197,228 971,630 396,965
<br />Net increase (decrease) in fair value of investments (11,484) (2,600) (938) (5,233) (20,255) (14,047)
<br />Interest expense (324,184) (37,128) (561,159) (922,471)
<br />Legal settlements 3,272 3,272
<br />Increase (decrease) in investment in sewer authority (1,347,516) (1,347,516)
<br />Insurance recovery 170,171
<br />Net Nonoperating Revenues (Expenses) 343,423 (1,012,789) 126,181 (406,682) (949,867) 802,040
<br />Net Income (Loss) Before Operating Transfers 286,281 (2,400,042) 151,550 1,677,413 (284,798) (1,688,155)
<br />Transfers in 34,964
<br />Transfers (out) (25,218) (9,746) (34,964) (24,809)
<br />Net Transfers in (out) (25,218) (9,746) (34,964) 10,155
<br />Change in net assets 261,063 (2,409,788) 151,550 1,677,413 (319,762) (1,678,000)
<br />Total net assets-beginning, restated 46,405,553 36,886,180 5,375,134 30,329,136 118,996,003 12,330,329
<br />Total net assets-ending 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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