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City of Redwood City
<br />Notes to the Basic Financial Statements (Continued)
<br />For the Year Ended June 30, 2025
<br />
<br />
<br />91
<br />Note 7 – Capital Assets (Continued)
<br />
<br />A. Governmental Activities (Continued)
<br />
<br />Depreciation and amortization expense were charged to the functions/funds of the governmental activities as
<br />follows:
<br />
<br />General government 3,196,107$
<br />Public safety 1,498,540
<br />Public ways and facilities 6,332,133
<br />Community development 307,876
<br />Culture and leisure 1,953,011
<br />Internal service funds 2,127,463
<br />Total depreciation/amortization expenses 15,415,130$
<br />
<br />B. Business-Type Activities
<br />
<br />The summary of changes in business-type activities capital assets for the year ended June 30, 2025, is as follows:
<br />
<br />Balance
<br />July 1, 2024, Transfers/ Balance
<br />as restated Additions Deletions Reclassifications June 30, 2025
<br />Capital assets, not being depreciated
<br />Land 3,126,270$ -$ -$ -$ 3,126,270$
<br />Construction in progress 11,323,075 13,313,103 (66,776) (4,198,687) 20,370,715
<br />Total capital assets, not being depreciated 14,449,345 13,313,103 (66,776) (4,198,687) 23,496,985
<br />Capital assets, being depreciated/amortized
<br />Buildings 62,685,408 - (1) - 62,685,407
<br />Improvements other than buildings 294,583,598 5,896,955 - - 300,480,553
<br />Harbor improvements 4,329,000 - (6) - 4,328,994
<br />Machinery and equipment 2,347,669 - (2) - 2,347,667
<br />Lease assets 3,588,572 - - - 3,588,572
<br />Subscription assets - 238,177 - - 238,177
<br />Total capital assets, being depreciated/amortized 367,534,247 6,135,132 (9) - 373,669,370
<br />Accumulated depreciation/amortization:
<br />Buildings (24,945,444) (1,303,455) - - (26,248,899)
<br />Improvements other than buildings (101,750,333) (6,124,577) - - (107,874,910)
<br />Harbor improvements (3,755,702) (36,583) - - (3,792,285)
<br />Machinery and equipment (1,932,709) (43,474) - - (1,976,183)
<br />Lease assets (254,918) (84,973) - - (339,891)
<br />Subscription assets - (39,700) - - (39,700)
<br />Total accumulated depreciation/amortization (132,639,106) (7,632,762) - - (140,271,868)
<br />Total capital assets, being depreciated/amortized, net 234,895,141 (1,497,630) (9) - 233,397,502
<br />Total capital assets, net 249,344,486$ 11,815,473$ (66,785)$ (4,198,687)$ 256,894,487$
<br />
<br />Depreciation and amortization expense were charged to the funds of the business-type activities as follows:
<br />
<br />Water Fund 4,028,151$
<br />Sewer Fund 1,514,841
<br />Port Fund 1,154,116
<br />Parking Fund 932,721
<br />Docktown Marina Fund 2,933
<br />Total depreciation/amortization expenses 7,632,762$
<br />7.C. - Page 123 of 269
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