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City of Redwood City
<br />Notes to the Basic Financial Statements (Continued)
<br />For the Year Ended June 30, 2025
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<br />Note 5 – Interfund Receivables, Payables, and Transfers (Continued)
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<br />B. Transfers
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<br />Interfund transfers during the year ended June 30, 2025, consisted of the following:
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<br />Transfers In Transfers Out Amount
<br />Redwood Shores Landscape
<br />Maintenance Special Revenue Fund General Fund 79,829$ (1)
<br />Grants Special Revenue Fund General Fund 384,302 (1)
<br />Traffic Safety Special Revenue Fund General Fund 2,864,887 (1)
<br />Low and Moderate Income Housing
<br />Asset Special Revenue Fund General Fund 100,000 (1)
<br />Public Financing Authority 2021 Veterans Memorial
<br />Lease Revenue Bond Debt Service Fund General Fund 3,089,050 (1)
<br />Capital Outlay Capital Projects Fund General Fund 19,171,064 (3)
<br />Art in Public Places Capital Projects Fund General Fund 47,000 (1)
<br />Water Enterprise Fund General Fund 697,145 (4)
<br />Parking Enterprise Fund General Fund 1,233,335 (1)
<br />Docktown Enterprise Fund General Fund 847,482 (1)
<br />Internal Services Internal Service Fund General Fund 3,000 (2)
<br />Subtotal 28,517,094
<br />Redwood Shores Maintenance
<br />General Fund Special Revenue Fund 678,285 (1)
<br />General Fund Self Insurance Internal Service Fund 2,000,000 (1)
<br />Subtotal 2,678,285
<br />Parking Enterprise Fund Transportation Grants Special Revenue Fund 300,000 (1)
<br />Special Gas Tax Street Improvement
<br />Special Revenue Fund Capital Outlay Capital Projects Fund 1,444,013 (1)
<br />Water Enterprise Fund Sewer Enterprise Fund 747,151 (4)
<br />Total 33,686,543$
<br />The reasons for these transfers are set forth below:
<br />(1) Allocation of funds to support operations.
<br />(2) To cover for activities supported by the General Fund.
<br />(3) Allocation of funds to construct/purchase general capital assets
<br />(4) To cover for costs of revenue services staff
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<br />Note 6 – Investment in Silicon Valley Clean Water Authority
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<br />The City has an investment of $30,775,079 in Silicon Valley Clean Water Authority (SVCW), a California Joint Powers
<br />Authority (JPA) with the cities of San Carlos, Belmont, and the West Bay Sanitation District. In addition, it has an
<br />additional investment of $12,576,254, in SVCW stage II construction. The City’s investment in SVCW was adjusted
<br />to reflect a net increase in the investment of $804,554. Every fiscal year the City adjusts the investment based on the
<br />City’s proportion of financial activity at SVCW. As of June 30, 2025, investment in SVCW totaled $43,351,333.
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<br />SVCW operates and maintains a sewer plant, which was jointly constructed with federal and state grants and
<br />contributions from participating entities. SVCW is run by its board of directors, which is comprised of four members.
<br />The city councils of each member city and the board of the West Bay Sanitation District each select one of their own
<br />members to serve on this board. No member agency has control of SVCW’s budget, finances, or operations. The board
<br />acts autonomously of the respective member agencies.
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