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6.G. - Raiff R8dwood $i7 <br />City <br />Notes to the Basic Financial Statements <br />For the fiscal year ended June 30, 2018 <br />NOTE 4 — CAPITAL ASSETS (CONTINUED) <br />B. Depreciation Allocation, Continued <br />Governmental Activities <br />Community Development <br />Human Services <br />Public Safety <br />Transportation <br />Leisure, cultural, and information services <br />Policy development and implementation <br />Environmental support and protection <br />Total Depreciation Expense -Governmental Activities <br />Business -Type Activities <br />Water Utility Fund <br />Sewer Utilityfund <br />Parking Fund <br />Dock Town <br />Port of Redwood City <br />Total Depreciation Expense -Business -Type Activities <br />NOTE 5 - INVESTMENT IN SILICON VALLEY CLEAN WATER AUTHORITY <br />$ 202,518 <br />87,333 <br />1,045,643 <br />4,113, 740 <br />2,909,669 <br />827,943 <br />401,223 <br />$ 9,588,069 <br />$ 3,105,436 <br />720,872 <br />549,499 <br />32,258 <br />1,566,788 <br />$ 5,974,853 <br />Redwood City has an investment of $30,120,726 in Silicon Valley Clean Water Authority (SVCW), a <br />California joint powers authority (JPA) with the cities of San Carlos, Belmont, and the West Bay <br />Sanitation District. In addition, it has an additional investment of $7,154,350, in SVCW stage II <br />construction. The City's investment in SVCW was adjusted to reflect a net decrease in the investment of <br />$2,588,106. Every fiscal year the City adjusts the investment based on the City's proportion of financial <br />activity at SVCW. <br />SVCW operates and maintains a sewer plant, which was jointly constructed with federal and state grants <br />and contributions from participating entities. SVCW is run by its board of directors, which is comprised <br />of four members. The city councils of each member city and the board of the West Bay Sanitation <br />District each select one of their own members to serve on this board. No member agency has control of <br />SVCW's budget, finances, or operations. The board acts autonomously of the respective member <br />agencies. <br />During the fiscal year ended June 30, 2018, the City contributed $10,780,992 toward the cost of <br />operating and maintaining the facility and paid debt principal and interest of $6,592,815 that included <br />the state revolving fund loan and the financing agreements to finance the construction and <br />rehabilitation of the SVCW's wastewater system. <br />59 265 <br />