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6.C. - Page 65 of 196
<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, 2020
<br />Nonoperating Revenues (Expenses):
<br />Business -Type Activities -Enterprise Funds
<br />Governmental
<br />Water
<br />Sewer
<br />and Transfers
<br />8,937,336
<br />Non -Major
<br />(1,219,074)
<br />Activities -
<br />(211,698)
<br />Utility
<br />Utility
<br />Parking
<br />Portof
<br />Docktown
<br />50,000
<br />Internal Service
<br />Grant revenue
<br />Fund
<br />Fund
<br />Fund
<br />Redwood City
<br />Marina
<br />Totals
<br />Funds
<br />1,536,474
<br />953,296
<br />474,644
<br />292,088
<br />(15,355)
<br />3,241,147 1,475,039
<br />Interest expense
<br />(1,756,626)
<br />Operating Revenues:
<br />(639,010)
<br />(510,405)
<br />(56,595)
<br />(2,323,626)
<br />Increase (decrease) in investment in sewer authority
<br />966,343
<br />2,498,610
<br />Charges for services
<br />47,221,422
<br />42,351,611
<br />1,672,503
<br />8,761,928
<br />18,773
<br />100,026,237
<br />37,553,896
<br />Total Operating Revenues
<br />47,221,422
<br />42,351,611
<br />1,672,503
<br />8,761,928
<br />18,773
<br />100,026,237
<br />37,553,896
<br />Operating Expenses:
<br />(457,739)
<br />Net Nonoperating Revenues (Expenses)
<br />(226,841)
<br />3,448,956
<br />923,844
<br />(632,303)
<br />(283,648)
<br />Employee services
<br />6,051,795
<br />3,073,178
<br />1,335,719
<br />2,156,508
<br />224,490
<br />12,841,690
<br />18,943,583
<br />Maintenance
<br />693,693
<br />313,198
<br />106,481
<br />399,366
<br />18,023
<br />1,530,761
<br />900,519
<br />Water purchases
<br />20,032,749
<br />20,032,749
<br />Utilities
<br />1,099,577
<br />762,351
<br />101,740
<br />270,353
<br />13,191
<br />2,247,212
<br />41,270
<br />Contractual services
<br />1,309,839
<br />23,706,690
<br />936,963
<br />435,375
<br />157,505
<br />26,546,372
<br />1,496,877
<br />Supplies and services
<br />4,418,913
<br />2,876,467
<br />450,910
<br />598,232
<br />117,671
<br />8,462,193
<br />5,136,557
<br />Noncapitalized projects
<br />1,246,402
<br />3,880
<br />107,613
<br />1,357,895
<br />Depreciation and amortization
<br />3,279,479
<br />1,035,464
<br />755,235
<br />1,730,886
<br />19,062
<br />6,820,126
<br />1,503,132
<br />Insurance and claims
<br />1,171,200
<br />517,300
<br />128,373
<br />336,054
<br />35,231
<br />2,188,158
<br />8,173,823
<br />Total Operating Expenses
<br />38,057,245
<br />33,531,050
<br />3,815,421
<br />5,930,654
<br />692,786
<br />82,027,156
<br />36,195,761
<br />Operating Income (Loss)
<br />9,164,177
<br />8,820,561
<br />(2,142,918)
<br />2,831,274
<br />(674,013)
<br />17,999,081
<br />1,358,135
<br />Nonoperating Revenues (Expenses):
<br />Impairment gain (loss) on property
<br />and Transfers
<br />8,937,336
<br />12,269,517
<br />(1,219,074)
<br />(211,698)
<br />(211,698)
<br />Property taxes
<br />2,833,174
<br />Capital contributions
<br />447,594
<br />101,724
<br />50,000
<br />447,594
<br />Grant revenue
<br />738,146
<br />1,606
<br />37,342
<br />38,948
<br />Investment earnings
<br />1,536,474
<br />953,296
<br />474,644
<br />292,088
<br />(15,355)
<br />3,241,147 1,475,039
<br />Interest expense
<br />(1,756,626)
<br />(639,010)
<br />(510,405)
<br />(56,595)
<br />(2,323,626)
<br />Increase (decrease) in investment in sewer authority
<br />966,343
<br />2,498,610
<br />4,366,141
<br />6,159,024
<br />1,388,370
<br />2,498,610
<br />Insurance recovery
<br />(278)
<br />(2,950)
<br />2,198,971
<br />3,408,480
<br />27,388,113
<br />(3,228)
<br />Other
<br />(6,411)
<br />118,928,384
<br />37,933,993
<br />(451,328)
<br />(3,236,534)
<br />(457,739)
<br />Net Nonoperating Revenues (Expenses)
<br />(226,841)
<br />3,448,956
<br />923,844
<br />(632,303)
<br />(283,648)
<br />3,230,008 1,475,039
<br />Net Income (Loss) Before Capital Contributions
<br />and Transfers
<br />8,937,336
<br />12,269,517
<br />(1,219,074)
<br />2,198,971
<br />(957,661)
<br />21,229,089
<br />2,833,174
<br />Capital contributions
<br />586,422
<br />101,724
<br />50,000
<br />738,146
<br />Transfers in
<br />777,404
<br />916,343
<br />4,366,141
<br />6,059,888
<br />1,401,727
<br />Transfers (out)
<br />(50,188)
<br />(588,822)
<br />(639,010)
<br />(13,357)
<br />Total Capital Contributions and Transfers
<br />1,313,638
<br />(487,098)
<br />966,343
<br />4,366,141
<br />6,159,024
<br />1,388,370
<br />Change in net position
<br />10,250,974
<br />11,782,419
<br />(252,731)
<br />2,198,971
<br />3,408,480
<br />27,388,113
<br />4,221,544
<br />Total net position -beginning
<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 />Total net position -ending
<br />101,575,314
<br />130,710,803
<br />37,681,262
<br />41,884,355
<br />171,946
<br />312,023,680
<br />12,843,783
<br />See accompanying notes to financial statements
<br />33
<br />152
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