AgdaPkt 2006-01-09 - Laserfiche WebLink

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MANAGEMENT'S DISCUSSION AND ANALYSIS GoVERNMENTAL A CTIVITIE S Governmental activities increased the City's net assets by $17.5 million, thereby accounting for 100% of the total growth in the City's net assets. Key elements of this increase are as follows: Changes in City's Net Assets (in Millions) Governmental Business-type Activities Activities Total 2005 2004 2005 2004 2005 2004 Variance Revenues $ $ $ $ $ $ Program revenues: Community development 12.567 4.703 12.567 4.703 167.212% Human Services 0.370 0.376 0.370 0.376 -1.596% Public safety 5.723 4.991 5.723 4.991 14.666% Transportation 13.256 8.700 13.256 8.700 52.368% Environmental support and protection 2.095 1.809 2.095 1.809 15.810% Leisure, cultural and information services 4.576 6.823 4.576 6.823 -32.933% Policy development and implementation 0.944 1.667 0.944 1.667 -43.371% Water 16.311 16.353 16.311 16.353 -0.257% Sewer 10.274 9.655 10.274 9.655 6.411% Parking 0.551 0.412 0.551 0.412 33.738% Port of Redwood City 5.951 5.559 5.951 5.559 7.052% General revenues: Taxes/special assessments 65.853 61.594 0.034 0.026 65.887 61.620 6.925% Investment earnings 2.432 0.484 0.951 0.215 3.383 0.699 383.977% Other 1.774 1.732 0.003 0.232 1.777 1.964 -9.521% Total revenues 109.590 92.879 34.075 32.452 143.665 125.331 14.628% Expenses Community development 13.922 13.888 13.922 13.888 0.245% Human services 1.261 1.255 1.261 1.255 0.478% Public safety 39.677 34.738 39.677 34.738 14.218% Transportation 10.008 8.626 10.008 8.626 16.021% Environmental support and protection 2.804 1.907 2.804 1.907 47.037% Leisure, cultural and information services 18.186 18.107 18.186 18.107 0.436% Policy development and implementation 2.600 3.381 2.600 3.381 -23.100% Interest on long tenn debt 3.703 3.344 3.703 3.344 10.736% Water 16.692 16.773 16.692 16.773 -0.483% Sewer 12.742 10.786 12.742 10.786 18.135% Parking 0.458 0.449 0.458 0.449 2.004% Port of Redwood City 4.468 4.114 4.468 4.114 8.605% Total expenses 92.161 85.246 34.360 32.122 126.521 117.368 7.799% Change in net assets before transfers 17.429 7.633 (0.285) 0.330 17.144 7.963 115.296% Transfers 0.035 0.040 (0.035) (0.040) Change in net assets 17.464 7.673 (0.320) 0.290 17.144 7.963 115.296% Net assets - July 1 239.159 231.486 118.996 118.706 358.155 350.192 2.274% Net assets - June 30 256.623 239.159 118.676 118.996 375.299 358.155 4.787% Key elements of the increase/decrease in revenues for governmental activities are as follows: General governmental revenues increased about 9.8%, or $6.249 million from FY 2003/04 due primarily to increases in tax revenues and grants received. Community development revenues increased due to the receipt of developer contributions related to the public underground parking garage. 7