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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 27 <br />Water Capacity Fee <br />Table 19 Water Capacity Account: Statement of Revenue, Expenditures, and Changes in <br />Account Balance for the Fiscal Year Ending June 30, 2024 <br />De scription FY 2023-24 <br />REVENUES <br />Fees [1]2,909,806.14 <br />Interes t [2]$262,070 <br />Deferred Revenue $0 <br />Other Revenue $0 <br />Tota l Re ve nue s $3,171,876 <br />EXPENDITURES <br />Capital Improvements $992,466 <br />Loan Pay ments $0 <br />Other Expendit ures $0 <br />Tota l Ex pe nditure s $992,466 <br />REVENUES OVER (UNDER) EXPENDI TURES $2,179,410 <br />Account Ba la nce , Be ginning of Ye a r [3] [4]$5,520,412 <br />Account Ba la nce , End of Ye a r [5]$7,699,822 <br />[1] Includes revenues rec eived under t he former water capac it y fee and wat er <br />fac ilities fee and the new wat er capacity fee, whic h replaced and c onsolidated <br />the former fees and bec ame effec tive on Marc h 22, 2024. <br />[2] Interes t ca lculated on end of year balance. <br />[3] FY 2023/24 beginning of year balance is the end of year balance as reported in <br />FY 2022/23 AB 1 600 Annua l Report for the form er water capacity fee and form er <br />water facilities fees . Balance includes $5,051,773 in water tank fair s hare fees . <br />[4] The balance was adjus ted to exclude $3,322,475 in revenues that were incorrectly <br />included in th e form er water facilities fee FY 22-23 fund balance. Thes e revenues w ere <br />as s ociated w ith fees that were im pos ed, but not yet received, by the City. <br />[5] Includes a ll balances and revenues re ceived for form er water capacity fee and <br />water facilities fee and the new water capacity fee, which replaced and cons olidated <br />the form er fees and becam e effective on March 22, 2024. <br />6.A. - Page 36 of 55 <br />41