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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 19 <br />Affordable Housing Impact Fees <br />Table 11 Affordable Housing Impact Fee Account: Statement of Revenue, Expenditures, <br />and Changes in Account Balance for the Fiscal Year Ending June 30, 2024 <br />De scri ption FY 2023-24 <br />REVENUES <br />Fees $339,071 <br />Interes t [1]$178,543 <br />Deferred Revenue $0 <br />Other Revenue $0 <br />Tota l Re ve nue s $517,614 <br />EXPENDI TURES <br />Capital Improvements $0 <br />Loan Pay ments $0 <br />Other Ex penditures [2]$44,214 <br />Tota l Ex pe nditure s $44,214 <br />REVENUES OVER (UNDER) EXPENDITURES 473,401 <br />Account Ba la nce , Be ginni ng of Ye a r $7,471,249 <br />Adjustment for Res idual Receipt Loans [3]$2,698,905 <br />Adjuste d Account Ba la nce , Be ginni ng of Ye a r [4]$4,772,344 <br />Account Ba la nce , End of Ye a r [5]$5,245,745 <br />[1] Interes t calculated on end of year balance. <br />[2] Other expenditures include profes s ional/ technical cons ulting s ervices and s taff <br />overs ight of the Affordable Hous ing Ord inance update. <br />[3] Reflects res idual recei pt loans for 1512 Stafford – HIP Hous ing $1,099,000; <br />3752-3770 Rolis on Rd (Mos aic Gardens ) – MidPen $1,087,491; and, <br />353 Main Street – ROEM $512,414. <br />[4] FY 2023/24 adjus ted account beginning of year balance is the end of year balance as <br />reported in FY2022/23 AB 1600 Annual Report. <br />[5] Does not account for unrealized gains /los s es on inves tm ents in the am ount o f $30,454 <br /> <br />6.A. - Page 28 of 55 <br />33