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6.C. - Page 5 of 196 Redwood Shores Landscape Maintenance Fund 39,815 Reimburse operating costs Total $18,673,440 Fund Balance As of June 30, 2020, there was $42.9 million in unassigned fund balance. This is an increase of $1.6 million from June 30, 2019. Although the total increase in the fund balance of the General Fund was $4.5 million, the available (unassigned) fund balance only increased by $1.6 million. The other fund balance categories that increased were the restricted category (increase of $600,000), the committed category (increase of $1.3 million), and the assigned category (increase of $1.3 million), all of which are unavailable to pay ongoing costs. These increases were partially offset by a decrease of $300,000 in the non -spendable category. The Capital Outlay Fund, Enterprise Funds, Special Revenue Funds, Debt Service Fund, Internal Service Fund, and Capital Project Funds are also included in the CAFR and are highlighted in the Management's Discussion and Analysis section of the CAFR. Self -Insurance Fund Highlights The Self -Insurance Internal Service Fund (liability and workers' compensation) had a positive change in net position of $3.4 million. The City maintains funding at a confidence level of 80% as recommended by Bickmore, the City's risk administrator. The Self -Insurance Fund ended up with a net position of $5.6 million as of June 30, 2020. It is anticipated that this net position will be used to fund liabilities that have not been recorded yet. New Accounting Standards There were no new accounting standards issued by the Governmental Accounting Standards Board (GASB) that were required to be implemented in FY 2019-20. FISCAL IMPACT There is no fiscal impact to the City as a result of this action. ENVIRONMENTAL REVIEW This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. PUBLIC NOTICE Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 hours prior to the meeting. Page 5 of 6 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 92