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<br />Attachment I <br /> <br />Enterprise Funds Hiahliahts <br /> <br />Water Fund <br />For the fiscal year ended June 30, 2005, the water enterprise fund had retained earnings <br />available for appropriation of $11 million (including $8.3 million in the water rate <br />stabilization fund). This amount is in addition to the $2.0 million emergency reserve and <br />$500,000 operating reserve that the Council has directed staff to maintain. <br /> <br />In terms of the City Council's adopted policy to keep total annual revenues and expenses <br />in balance, cash basis revenues of $16.4 million were more than cash operating expenses <br />of $13.8 million. <br /> <br />Sewer Fund <br />The sewer enterprise fund ended FY 2004/05 with $.7 million in retained earnings available <br />for appropriation. <br /> <br />The same Council policy of total annual revenues and expenses in balance applies to the <br />sewer fund as well. Cash basis revenues of $11.6 million were less than cash operating <br />and capital outlays of $13 million due primarily to the unanticipated increase in contribution <br />to SBSA to replace the damaged outfall pipe into the San Francisco Bay. <br /> <br />Parkinq Fund <br />Redwood City maintains on-street and off-street parking spaces within the downtown area. <br />The parking fund had net income for the year ending June 30, 2005 of $151 ,550. <br /> <br />Port <br />The net assets for the Port increased by $1.7 million for the fiscal year ended June 30, <br />2005. Operating revenues increased from $5.3 million in FY 2003/04 to $5.9 million in FY <br />2004/05 while operating expenses increased from $3.3 million in FY 2003/04 to $3.9 million <br />in FY 2004/05. <br /> <br />5 <br />