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<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />PROPRlETARY FUNDS
<br />COMBINING STATEMENT OF CASH FLOWS
<br />INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
<br />FOR THE FISCAL YEAR ENDED JUNE 30, 2005
<br />
<br /> Governmental
<br /> Water Sewer Activities -
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br />Cash flows from operating activities: $ $ $ $ $ $
<br />Cash received from customers 16,444,233 11,552,272 445,723 5,994,264 34,436,492 13,459,864
<br />Cash payments to suppliers for goods and services (8,482,163) (9,874,479) (139,732) (2,579,058) (21,075,432) (7,159,437)
<br />Cash payments to employees for services (3,728,057) (1,976,486) (147,278) (979,089) (6,830,910) (5,899,152)
<br />Right of way compensation (1,570,950) (1,054,457) (36,527) (2,661,934)
<br />Net cash provided by operating activities 2,663,063 (1,353,150) 122,186 2,436,117 3,868,216 401,275
<br />Cash flows from noncapital financing activities:
<br />Insurance recovery 170,171
<br />Property taxes 34,081 34,081
<br />Transfers in
<br />Transfers out (24,809)
<br />Repayment of advance to capital outlay fund 6,000,000 6,000,000 2,000,000
<br />Net cash provided by noncapital financing activities 6,000,000 34,081 6,034,081 2,145,362
<br />Cash flows ftom capital and related financing activities:
<br />Acquisition and construction of capital assets (3,345,753) (163,364) (777,472) (4,286,589) (1,443,547)
<br />Advances to South Bayside System Authority (4,378,118) (4,378,118)
<br />Legal settlement 3,272 3,272
<br />Principal retirements (222,231) (222,231)
<br />Interest paid (37,128) (555,917) (593,045)
<br />Contributions 96,228
<br />Unamortized issuance cost 3,557 3,557
<br />Proceeds ftom sale of equipment 123,309
<br />Bond proceeds 35,176,339 35,176,339
<br />Payments for costs of issuance (183,174) (183,174)
<br />Net cash used for capital and related financing activities 27,269,294 (163,364) (37,128) (1,548,791) 25,520,011 (1,224,010)
<br />Cash flows from investing activities:
<br />Interest and dividends on investment 518,093 70,033 25,278 197,228 810,632 396,965
<br />Net increase (decrease) in fair value of investments (11,484) (2,600) (938) (5,233) (20,255) (14,047)
<br />Net cash used in investing activities 506,609 67,433 24,340 191,995 790,377 382,918
<br />Net increase (decrease) in cash and cash equivalents 36,438,966 (1,449,081) 143,479 1,079,321 36,212,685 1,705,545
<br />Cash and cash equivalents at beginning of year 9,602,497 3,538,763 857,072 11,442,305 25,440,637 13,036,581
<br />Cash and cash equivalents at end of year 46,041,463 2,089,682 1,000,551 12,521,626 61,653,322 14,742,126
<br />Reconciliation of Net Cash Flow from Operating Activities
<br />Operating income (loss) (57,142) (1,387,253) 25,369 2,084,095 665,069 (2,490,195)
<br />Adjustments to reconcile operating income to net cash
<br />provided by operating activities:
<br />Depreciation 964,769 402,816 97,360 698,867 2,163,812 813,768
<br />Change in assets and liabilities:
<br />Decrease (increase) in accounts receivable 132,869 703,013 42,587 878,469 82,596
<br />Decrease (increase) in due from other governmental agencies (505,915) (505,915) (83,685)
<br />Decrease (increase) in inventory/prepaid expenses/deposit! 40,456 9,627 50,083 19,992
<br />Increase (decrease) in vacation & sick leave payable 79 24,811 1,542 16,304 42,736 4,345
<br />Increase (decrease) in accounts payable 1,582,529 (590,622) (3,149) (385,738) 603,020 229,048
<br />Increase (decrease) in customer deposits (497) 1,064 (30,790) (30,223)
<br />Increase in de felTed revenue 1,165 1,165
<br />Increase in insurance claims payable 1,825,406
<br />Total adjustments 2,720,205 34,103 96,817 352,022 3,203,147 2,891,470
<br />Net cash provided by operating activities 2,663,063 (1,353,150) 122,186 2,436,117 3,868,216 401,275
<br />See accompanying notes to financial statements
<br />Non-cash financing activity: During the fiscal year the water utility fund transfelTed $25,218 and the sewer utility fund transfelTed $9,746 in fixed assets to
<br />internal service funds.
<br />During the fiscal year the equipment services fund received $49,590 and the internal services fund received $42,287 in contributed fixed assets which consisted
<br />of new equipment purchased by governmental funds and enterprise funds.
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