Laserfiche WebLink
<br />Attachment I <br /> <br />Enterprise Funds Hiohliohts <br /> <br />Water Fund <br />For the fiscal year ended June 30, 2006, the water enterprise fund had retained earnings <br />available for appropriation of $11.3 million (including $8.3 million in the water rate <br />stabilization fund). This amount includes the $2.0 million emergency reserve and $500,000 <br />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 $18.5 million were more than cash operating expenses <br />of $16.4 million. <br /> <br />Sewer Fund <br />The sewer enterprise fund ended FY 2005/06 with $.5 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 fu nd as well. Cash basis revenues of $12 million were less than cash operating and <br />capital outlays of $12.7 million due primarily to the unanticipated increase in contribution to <br />South Bayside System Authority to replace the damaged outfall pipe into the San <br />Francisco Bay. <br /> <br />Parkino Fund <br />Redwood City maintains on-street and off-street parking spaces within the downtown area. <br />In FY 2005/06 the City began operations of the new downtown underground parking <br />garage. The result is an increase in expenses in the parking fund and a net loss for the <br />year ending June 30, 2006 of $(80,600). <br /> <br />Port <br />The net assets for the Port increased by $2.5 million for the fiscal year ended June 30, <br />2006. Operating revenues increased from $5.9 million in FY 2004/05 to $6.2 million in FY <br />2005/06 while operating expenses decreased from $3.9 million in FY 2004/05 to $3.6 <br />million in FY 2005/06. <br /> <br />5 <br />