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6.A. - Page 46 of 191 City of Redwood City Management's Discussion and Analysis For the fiscal year ended June 30, 2019 Business -Type Activities —The decrease in the construction in progress category was due to the following projects being completed during FY 2018-19: the Distribution System Replacement project in the water utility fund, the FY 2015-16 and FY 2016-17 Collection System Replacement project and the Sanitary Sewer Pump Station project in the sewer utility fund, and the Parking Control System project and parking meter project in the parking fund. These completed projects were partially offset by capital expenses in several projects, such as the California Pump House and Generator project in the water utility fund and the FY 2017-18 Collection System Replacement project in the sewer utility fund. The increase in the equipment category was due to the purchase of a portable restroom/shower trailer in the Docktown Marina fund. The improvements category increased due to the completion of the Distribution System Replacement project in the water utility fund, the FY 2015-16 and FY 2016-17 Collection System Replacement project and the Sanitary Sewer Pump Station project in the sewer utility fund, and the Parking Control System project and parking meter project in the parking fund. There were also $2.9 million in developer improvements that were accepted by the City. Long -Term Debt Additional information can be found in Notes 6 and 7 of this report. Outstanding Debt (in Millions) SPECIAL ASSESSMENT DISTRICT DEBT Special assessment districts in different parts of the City have also issued debt to finance infrastructure and facilities construction in their respective districts. At June 30, 2019, a total of $11.9 million in special assessment district debt was outstanding, issued by three special assessment districts. This debt is secured only by special assessments on the real property in the district issuing the debt, and is not the City's responsibility, although the City does act as these Districts' agent in the collection and remittance of assessments. PRIVATE PURPOSE TRUST FUND DEBT On February 1, 2012, the Redevelopment Agency of the City of Redwood City was dissolved pursuant to California State law, and as of that date, the long-term debt associated with the former Redevelopment Agency was transferred to a private purpose trust fund for the Successor Agency. At June 30, 2019, the Successor Agency had tax allocation bonds outstanding in the amount of $49.1 million, including principal and interest. 18 53 Govern mental Business -Type Activities Activities Total 2019 2018 2019 2018 2019 2018 Variance Revenue bonds 60.831 63.886 60.831 63.886 -4.78% Refunding lease 0.348 0.348 -100.00% Accrued sick leave and vacation 12.269 12.020 0.990 0.961 13.259 12.981 2.14% Total long term debt 12.269 12.368 61.821 64.847 74.090 77.215 -4.05% SPECIAL ASSESSMENT DISTRICT DEBT Special assessment districts in different parts of the City have also issued debt to finance infrastructure and facilities construction in their respective districts. At June 30, 2019, a total of $11.9 million in special assessment district debt was outstanding, issued by three special assessment districts. This debt is secured only by special assessments on the real property in the district issuing the debt, and is not the City's responsibility, although the City does act as these Districts' agent in the collection and remittance of assessments. PRIVATE PURPOSE TRUST FUND DEBT On February 1, 2012, the Redevelopment Agency of the City of Redwood City was dissolved pursuant to California State law, and as of that date, the long-term debt associated with the former Redevelopment Agency was transferred to a private purpose trust fund for the Successor Agency. At June 30, 2019, the Successor Agency had tax allocation bonds outstanding in the amount of $49.1 million, including principal and interest. 18 53