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6.A. - Page 61 of 191
<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />PROPRIETARY FUNDS
<br />STATEMENT OF REVENUES, EXPENSES
<br />AND CHANGES IN FUND NET POSITION
<br />FOR THE FISCAL YEAR ENDED JUNE 30, 2019
<br />Nonoperating Revenues (Expenses):
<br />Business -Type Activities -Enterprise Funds
<br />Governmental
<br />Water
<br />Sewer
<br />Impairment gain (loss) on property
<br />Non -Major
<br />Activities -
<br />(1,054,510)
<br />Utility
<br />Utility
<br />Parking
<br />Port of
<br />Docktown
<br />409,989
<br />Internal Service
<br />Fund
<br />Fund
<br />Fund
<br />Redwood City
<br />Marina
<br />Totals
<br />Funds
<br />68,958
<br />Investment earnings
<br />1,707,352
<br />1,272,930
<br />666,481
<br />347,354
<br />Operating Revenues:
<br />4,023,177
<br />1,862,943
<br />Interest expense
<br />(1,804,615)
<br />(538,926)
<br />Charges for services
<br />45,001,193
<br />38,104,406
<br />2,635,409
<br />9,335,548
<br />37,555
<br />95,114,111
<br />35,367,010
<br />Total Operating Revenues
<br />45,001,193
<br />38,104,406
<br />2,635,409
<br />9,335,548
<br />37,555
<br />95,114,111
<br />35,367,010
<br />Operating Expenses:
<br />(7,530)
<br />12,501
<br />Contributions
<br />Employee services
<br />5,522,953
<br />3,134,979
<br />1,117,139
<br />2,077,582
<br />265,404
<br />12,118,057
<br />19,331,505
<br />Maintenance
<br />685,148
<br />288,842
<br />99,188
<br />1,412,816
<br />3,798
<br />2,489,792
<br />972,587
<br />Water purchases
<br />18,024,868
<br />1,964,887
<br />Net Income (Loss) Before Capital Contributions
<br />18,024,868
<br />Utilities
<br />1,116,505
<br />847,299
<br />115,945
<br />253,844
<br />26,449
<br />2,360,042
<br />42,581
<br />Contractual services
<br />1,187,202
<br />23,331,463
<br />811,881
<br />396,034
<br />818,096
<br />26,544,676
<br />1,395,749
<br />Supplies and services
<br />4,515,018
<br />2,770,279
<br />444,099
<br />839,168
<br />128,539
<br />8,697,103
<br />4,805,358
<br />Noncapitalized projects
<br />5,266,580
<br />979,161
<br />Transfers (out)
<br />7,307
<br />515,393
<br />1,501,861
<br />Depreciation and amortization
<br />3,217,307
<br />871,386
<br />651,817
<br />1,714,105
<br />33,725
<br />6,488,340
<br />1,500,905
<br />Insurance and claims
<br />1,674,025
<br />560,444
<br />115,710
<br />265,490
<br />54,428
<br />2,670,097
<br />10,498,662
<br />Total Operating Expenses
<br />35,943,026
<br />32,783,853
<br />3,355,779
<br />6,966,346
<br />1,845,832
<br />80,894,836
<br />38,547,347
<br />Operating Income (Loss)
<br />9,058,167
<br />5,320,553
<br />(720,370)
<br />2,369,202
<br />(1,808,277)
<br />14,219,275
<br />(3,180,337)
<br />Nonoperating Revenues (Expenses):
<br />Impairment gain (loss) on property
<br />(1,054,510)
<br />(1,054,510)
<br />89,443
<br />Property taxes
<br />409,989
<br />409,989
<br />Grant revenue
<br />35,824
<br />1,377
<br />31,757
<br />68,958
<br />Investment earnings
<br />1,707,352
<br />1,272,930
<br />666,481
<br />347,354
<br />29,060
<br />4,023,177
<br />1,862,943
<br />Interest expense
<br />(1,804,615)
<br />(538,926)
<br />(141,873)
<br />(2,485,414)
<br />authority
<br />4,737,591
<br />4,737,591
<br />Insurance recovery
<br />(7,530)
<br />(7,530)
<br />12,501
<br />Contributions
<br />Other
<br />(556,423)
<br />(556,423)
<br />Net Nonoperating Revenues (Expenses)
<br />(68,969)
<br />6,010,521
<br />1,077,847
<br />(716,238)
<br />(1,167,323)
<br />5,135,838
<br />1,964,887
<br />Net Income (Loss) Before Capital Contributions
<br />and Transfers
<br />8,989,198
<br />11,331,074
<br />357,477
<br />1,652,964
<br />(2,975,600)
<br />19,355,113
<br />(1,215,450)
<br />Capital contributions
<br />2,592,051
<br />500,082
<br />3,092,133
<br />45,853
<br />Transfers in
<br />749,637
<br />46,424
<br />4,470,519
<br />5,266,580
<br />850,000
<br />Transfers (out)
<br />(561,263)
<br />(561,263)
<br />(4,000)
<br />Total Capital Contributions and Transfers
<br />3,341,688
<br />(61,181)
<br />46,424
<br />4,470,519
<br />7,797,450
<br />891,853
<br />Change in net position
<br />12,330,886
<br />11,269,893
<br />403,901
<br />1,652,964
<br />1,494,919
<br />27,152,563
<br />(323,597)
<br />Total net position -beginning
<br />78,993,454
<br />107,658,491
<br />37,530,092
<br />38,032,420
<br />(4,731,453)
<br />257,483,004
<br />8,945,836
<br />Total net position -ending
<br />91,324,340
<br />118,928,384
<br />37,933,993
<br />39,685,384
<br />(3,236,534)
<br />284,635,567
<br />8,622,239
<br />See accompanying notes to financial statements
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