AgdaPkt 2007-12-17 - Laserfiche WebLink

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M��G��'r's D�SC�ss�o��A��,�s�s Changes in Ci�'s Net Assets (in Millions) Governmental Business-type Activities Activities Total 2007 2006 2007 2006 2007 2006 Variance Revenues $ $ $ $ $ $ Program revenues: Community development 5.665 3.948 5.665 3.948 43.490% Human Services 0.364 0.342 0.364 0.342 6.433% Public safety 5.264 5.287 5.264 5.287 -0.435% Transportation 7.103 7.690 7.103 7.690 -7.63 3% Environmental support and protection 1.714 2.086 1.714 2.086 -17.833% Leisure,cultural and information services 6.274 5.046 6.274 5.046 24.336% Policy development and implementation 1.252 0.911 1.252 0.911 37.431% Water 20.880 18.705 20.880 18.705 11.628% Sewer 14.104 11.773 14.104 11.773 19.800% Parking 0.862 0.607 0.862 0.607 42.010% Port of Redwood City 5.676 6.255 5.676 6.255 -9.257% General revenues: Taxes/special assessments 76.275 72.530 0.061 0.050 76.336 72.580 5.175% Investment earnings 4.844 3.321 2.509 2.058 7.353 5.379 36.698% Other 1.710 1.751 0.230 1.940 1.751 10.794% Total revenues 110.465 102.912 44.322 39.448 154.787 142.360 8.729% E�penses Community development 13.744 15.65 3 13.744 15.65 3 -12.196% Human services 1.351 1.280 1.351 1.280 5.547% Public safety 42.601 41.264 42.601 41.264 3.240% Transportation 13.303 9.684 13.303 9.684 37.371% Environmental support and protection 2.930 3.715 2.930 3.715 -21.131% Leisure,cultural and information services 19.520 18.880 19.520 18.880 3.390% Policy development and implementation 2.654 2.647 2.654 2.647 0.264% Interest on long term debt 3.450 3.600 3.450 3.600 -4.167% Water 19.342 19.847 19.342 19.847 -2.544% Sewer 16.300 12.785 16.300 12.785 27.493% Parking 1.793 0.596 1.793 0.596 200.839% Port of Redwood City 4.05 3 4.207 4.05 3 4.207 -3.661% Total expenses 99.553 96.723 41.488 37.435 141.041 134.158 5.131% Change in net assets before transfers 10.912 6.189 2.834 2.013 13.746 8.202 67.593% Transfers (0.343) 0.038 0.343 (0.038) Change in net assets 10.569 6.227 3.177 1.975 13.746 8.202 67.593% Net assets-July 1,as restated 263.537 257.310 123.133 121.158 386.670 378.468 2.167% Net assets-June 30 274.106 263.537 126.310 123.133 400.416 386.670 3.555°Io GOVERNMENTAL ACTIV�T�S Governmental activities increased the City's net assets by $10.6 million, thereby accounting for 77% of the total growth in the City's net assets. Key elements of this increase are as follows: Ke�elements of the increase/decrease in re�enues for go�ernmental acti�ities are as follows: General governmental revenues increased about 6.7%, or $5.227 million from FY 2005/06 due primarily to increases in tax revenues. Community development revenues increased due to the various planning and building fees related to developments such as the Stanford Medical, Sequoia Hospital, and Costco projects. 7