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6.A. - Page 45 of 191 City of Redwood City Management's Discussion and Analysis For the fiscal year ended June 30, 2019 Overall, expenditures were $11.3 million less than budgeted primarily due to cost savings and vacancies in a majority of departments. Unexpected shortfalls in general engineering, street cleaning/storm water collection and disposal, and other administrative support services were offset by budget savings in all other programs. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets At the end of FY 2018-19, the City had $449.3 million, net of depreciation, invested in a broad range of capital assets used in governmental and business -type activities, as shown in the table below. Additional information on the City's capital assets can be found in Note 4 of this report. Capital Assets at fiscal Year-end (in Millions) Governmental Activities -The increase in construction in progress was due to significant expenditures in several ongoing projects, such as the Highway 101/84 Interchange, the Magical Bridge Playground, the YMCA Veterans Memorial Senior Center, and the Middlefield Road utility undergrounding. The increase in the streets category was due to the completion of a safe routes to school project and approximately $8.0 million in developer improvements that were accepted by the City. The increase in the equipment category was a result of the replacement of 7 police vehicles in the Police Department and 3 large water tender fire trucks in the Fire Department. The increase in the improvements category was due to the completion of the Hudson Street Bike/Pedestrian project, the National Guard Armory ADA improvement project, and approximately $1.6 million in developer improvements that were accepted by the City. Parks and bridges increased due to the completion of several tennis court replacement projects. The increase in the traffic signals category was due to the acceptance of approximately $3.0 million in developer improvements by the City. The increase in the storm drains category was due to the completion of the Redwood Creek/storm drain collection system rehabilitation/improvements and approximately $1.8 million in developer improvements that were accepted by the City. 17 52 Governmental Business -Type Activities Activities Tota 1 2019 2018 2019 2018 2019 2018 Variance Land 31.963 31.963 3.126 3.180 35.089 35.143 -0.15% Streets 128.121 118.154 128.121 118.154 8.44% Construction in progress 38.502 26.171 10.026 18.338 48.528 44.509 9.03% Buildings 83.309 83.309 62.686 62.467 145.995 145.776 0.15% Equipment 28.578 26.278 2.111 1.928 30.689 28.206 8.80% 1 mprovements 14.137 9.946 237.254 217.961 251.391 227.907 10.30% Harbor improvements 4.828 4.774 4.828 4.774 1.13% Parks and bridges 42.213 41.521 42.213 41.521 1.67% Traffic signals 6.333 3.371 6.333 3.371 87.87% Storm drains 20.331 16.408 20.331 16.408 23.91% Less accumulated depreciation (167.521) (157.509) (96.676) (90.188) (264.197) (247.697) 6.66% Total capital assets 225.966 199.612 223.355 218.460 449.321 418.072 7.47% Governmental Activities -The increase in construction in progress was due to significant expenditures in several ongoing projects, such as the Highway 101/84 Interchange, the Magical Bridge Playground, the YMCA Veterans Memorial Senior Center, and the Middlefield Road utility undergrounding. The increase in the streets category was due to the completion of a safe routes to school project and approximately $8.0 million in developer improvements that were accepted by the City. The increase in the equipment category was a result of the replacement of 7 police vehicles in the Police Department and 3 large water tender fire trucks in the Fire Department. The increase in the improvements category was due to the completion of the Hudson Street Bike/Pedestrian project, the National Guard Armory ADA improvement project, and approximately $1.6 million in developer improvements that were accepted by the City. Parks and bridges increased due to the completion of several tennis court replacement projects. The increase in the traffic signals category was due to the acceptance of approximately $3.0 million in developer improvements by the City. The increase in the storm drains category was due to the completion of the Redwood Creek/storm drain collection system rehabilitation/improvements and approximately $1.8 million in developer improvements that were accepted by the City. 17 52