AgdaPkt 2018-12-17 Joint Special

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6.G. - Page 41 of 187 City of Redwood City Management's Discussion and Analysis For the fiscal year ended June 30, 2018 Sales and other taxes increased by $929 thousand, primarily due to an increase of $1.0 million in transient occupancy taxes. Licenses and permits increased by $3.5 million, an increase of 123% increase, primarily due to an increase in building permit revenue related to increases in building activity, the implementation of fee increases, and the implementation of new development related fees. Fines, forfeitures, and penalties increased by $81 thousand, due to an increase in parking citations. Use of money and property increased by $212 thousand, due to an increase in right-of-way- rent charged to the water and sewer enterprise funds and rent and concession revenues, offset by a decrease in interest income and a decrease in the change in the fair value of the City's investments. Intergovernmental revenues increased by $372 thousand primarily due to the increase in federal, state and county grants. Charges for current services increased $3.0 million due to an increase in revenue received from the City of San Carlos for fire services provided, a large increase in the general plan maintenance fee, and implementation of the new geographic information system fee in the general fund. General fund expenditures increased $13.7 million over the prior fiscal year. The increase primarily resulted from programmatic changes, including increases in required CalPERS contributions, and the $8.8 million contribution to the Section 115 pension trust investment account. All expenditure categories had increases from the prior fiscal year, except for transportation, capital outlay, and interest and fiscal charges. The amounts of the increases were as follows: community development ($1.3 million), human services ($166 thousand), public safety ($2.1 million), environmental support and protection ($135 thousand), leisure, cultural, and information services ($513 thousand), and policy development and implementation ($9.7 million). The contribution of $8.8 million to the Section 115 pension trust investment account was recorded in the policy development and implementation category. Transfers out of the general fund increased by $6.0 million in FY 2017-18 primarily due to an increase of $3.8 million in the transfer to the Docktown Marina fund and $2.0 million in the transfer to the self- insurance internal service fund to cover increased workers' compensation costs. Capital Outlay Fund — This fund accounts for resources provided to finance general governmental capital projects. In FY 2017-18, the capital outlay fund generated $2.6 million in revenue, most of which was from contributions for the Magical Bridge playground and use of money and property (investment income). This fund was also the recipient of $8.8 million of transfers from the general fund from the Utility Users' Tax, which has been allocated to support the City's infrastructure. Total outlays were $7.9 million, of which $3.6 million met the City's criteria for capitalization. The balance ($4.3 million) was expended on non -capitalized projects in FY 2017-18. Total outlays in the prior fiscal year (FY 2016-17) were $8.7 million. Of the capital outlay fund's $32.1 million fund balance, almost all of it was assigned to capital projects. Proprietary Funds — Enterprise fund net position totaled $257.5 million at the end of the fiscal year, an increase of $5.3 million over the prior fiscal year's restated balance of $252.2 million. Enterprise operating 14 220