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<br />Depreciation expense was charged to functions and programs based on their usage of the related assets. The
<br />amounts allocated to each function or program are as follows:
<br />
<br />Governmental Activities
<br />Community Development
<br />Human Services
<br />Public Safety
<br />Transportation
<br />Leisure, cultural, and information services
<br />Policy development and implementation
<br />Equipment Services
<br />Internal Services
<br />Total Depreciation Expense-Governmental Activities
<br />
<br />NOTE 4 - CAPITAL ASSETS (CONTINUED)
<br />
<br />B.
<br />
<br />Depreciation Allocation
<br />
<br />Business-Type Activities
<br />Water Utility Fund
<br />Sewer Utility fund
<br />Parking Fund
<br />Port of Redwood City
<br />Total Depreciation Expense-Business-Type Activities
<br />
<br />NOTE 5 -INvESTMENT IN SOUTH BA YSIDE SYSTEM AUTHORITY
<br />
<br />$
<br />
<br />12,235
<br />77,853
<br />482,200
<br />3,144,631
<br />1,151,635
<br />288,861
<br />766,290
<br />47,478
<br />5,971,183
<br />
<br />$
<br />
<br />$
<br />
<br />948,179
<br />402,816
<br />97,360
<br />698,867
<br />2,147,222
<br />
<br />$
<br />
<br />Redwood City has an investment of $18,029,631 in a Joint Powers Authority (JP A) with the cities of San
<br />Carlos and Belmont and the West Bay Sanitation District. In addition, the City and the Port of Redwood
<br />City have investments of $2,046,643 and $400,000, respectively, in South Bayside System Authority
<br />(SBSA) capacity rights. This JP A, SBSA, operates and maintains a sewer plant which was jointly
<br />constructed with Environmental Protection Agency federal and state grants and contributions from
<br />participating entities. The JP A is run by its board of directors which is comprised of four members. The
<br />City Councils of each member city and the board of the West Bay Sanitation District each select one of
<br />their own members to serve on this board. No member agency has control of SBSA's budget, finances,
<br />or operations. The board acts autonomously ofthe respective member agencies.
<br />
<br />Audited financial statements are available from South Bayside System Authority, 1400 Radio Road,
<br />Redwood City, CA 94065. The condensed audited financial information of the JPA as ofJune 30, 2005
<br />is as follows:
<br />
<br />Total assets
<br />Total liabilities
<br />Total fund equity
<br />Total operating revenues
<br />Total operating expenses
<br />Total operating income (loss)
<br />Net income (loss)
<br />Cumulative agency
<br />Belmont
<br />San Carlos
<br />Redwood City
<br />West Bay Sanitation District
<br />Fixed assets (net depreciation)
<br />
<br />$
<br />
<br />4,021,426
<br />6,099,581
<br />20,068,187
<br />15,316,594
<br />45,505,788
<br />
<br />42
<br />
<br />$
<br />
<br />58,832,123
<br />7,648,567
<br />51,183,556
<br />11,184,812
<br />14,435,024
<br />(3,250,212)
<br />(1,115,844)
<br />
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