AgdaPkt 2019-12-16 Joint SA PFA - Laserfiche WebLink

Browse Search

6.A. - Page 40 of 191 City of Redwood City Management's Discussion and Analysis For the fiscal year ended June 30, 2019 Community development expenses increased $4.6 million primarily due to the $2.6 million disposition of property at 707 and 777 Bradford Street and increases in the community development administration and community planning programs. Human services expenses increased slightly ($124 thousand) due to increased services provided through the social services center program. Public safety expenses increased by $460 thousand primarily due to an increase in the police administration and fire operations programs, including the City of San Carlos fire costs. Transportation expenses increased $1.0 million due to an increase of capital related expenditures in the Special Gas Tax and Transportation Grants funds that were not capitalized as fixed assets (for non -capitalized transportation project expenditures). Environmental support and protection decreased slightly ($70 thousand), primarily due to reduced costs in the Redwood Shores Maintenance fund. Leisure, cultural, and information services decreased $1.5 million due to a decrease of $780 thousand in pension and depreciation costs, $173 thousand in library related expenditures and $445 thousand in Parks, Recreation, and Community Services expenditures. Policy development and implementation decreased $6.9 million primarily due to the $9.7 million contribution to the Section 115 pension trust investment account that occurred in FY 2017-18, which was offset by a contribution of $1.7 million to the Section 115 pension trust investment account in FY 2018-19 and a $1.1 million increase in the other administrative support services program. Due to the City paying off the 2013 Public Financing Authority Refunding Lease in full in July 2018, the City reported $0 in interest expense in FY 2018-19, as the interest paid was accrued as interest payable as of June 30, 2018. BUSINESS -TYPE ACTIVITIES Business -type activities prior to transfers increased the City's net position by $22.4 million in FY 2018-19. Key elements accounting for increases or decreases in revenues and expenses are as follows: Business -type revenues increased by $12.1 million, or 12.7 percent, from FY 2017-18. The increase is primarily due to the increase in utility rates, an increase in user fee revenues collected at the Port of Redwood City, and an increase in the City's investment in Silicon Valley Clean Water Authority (SVCWA). These increases were offset by a reduction of $3.3 million in parking in -lieu fees collected. The water utility's expenses decreased by $3.7 million, primarily due to a decrease of $2.0 million in the cost to purchase water from the San Francisco Public Utilities Commission. In addition, there was a decrease in employee services, maintenance, contractual services, supplies and services, and insurance and claims expenses, offset by increases in utilities and depreciation. Sewer utility expenses increased by $3.7 million, primarily due to an increase in payments to SVCWA for wastewater treatment, and debt service reimbursement for SVCWA debt issued for wastewater system capital improvements, as well as an increase in employee costs, utility costs, and depreciation, offset by decreases in maintenance, supplies and services, and non -capitalized project costs. The expenses of the parking fund decreased slightly, by $31 thousand, primarily due to a decrease in contractual services, offset by an increase in supplies and services. The expenses of the Port of Redwood City increased by $1.2 million due to an increase in maintenance costs, utility costs, contractual services, supplies and services, and depreciation, offset by decreases in employee costs, non -capitalized project costs and insurance and claims expenses. 12 47