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City of Redwood City <br />Annual Comprehensive Financial Report <br />For the Year Ended June 30, 2025 <br /> <br />Table of Contents <br /> <br />i <br /> <br />Page <br /> <br />INTRODUCTORY SECTION (Unaudited) <br /> <br />Table of Contents ............................................................................................................................................................... i <br />Organizational Chart ......................................................................................................................................................... v <br />List of Elected Officials .................................................................................................................................................. vii <br />List of Other Officials .................................................................................................................................................... viii <br />Letter of Transmittal ........................................................................................................................................................ ix <br />GFOA Certificate of Achievement for Excellence in Financial Reporting ................................................................... xix <br /> <br />FINANCIAL SECTION <br /> <br />Independent Auditor’s Report ...................................................................................................................................... 1 <br /> <br />Management’s Discussion and Analysis (Unaudited).................................................................................................. 5 <br /> <br />Basic Financial Statements: <br /> <br /> Government-Wide Financial Statements: <br /> Statement of Net Position .................................................................................................................................. 24 <br /> Statement of Activities ...................................................................................................................................... 26 <br /> <br /> Fund Financial Statements: <br /> Governmental Funds Financial Statements: <br /> Balance Sheet .............................................................................................................................................. 33 <br /> Reconciliation of the Governmental Funds Balance Sheet <br /> to the Government-Wide Statement of Net Position ............................................................................ 34 <br /> Statement of Revenues, Expenditures, and Changes in Fund Balances ...................................................... 35 <br /> Reconciliation of the Governmental Funds Statement of Revenues, <br /> Expenditures, and Changes in Fund Balances to the Government-Wide <br /> Statement of Activities and Changes in Net Position ........................................................................... 37 <br /> Proprietary Funds Financial Statements: <br /> Statement of Net Position ........................................................................................................................... 40 <br /> Statement of Revenues, Expenses, and Changes in Net Position ............................................................... 44 <br /> Statement of Cash Flows ............................................................................................................................. 46 <br /> Fiduciary Funds Financial Statements: <br /> Statement of Fiduciary Net Position ........................................................................................................... 53 <br /> Statement of Changes in Fiduciary Net Position ........................................................................................ 54 <br /> <br /> Notes to the Basic Financial Statements ............................................................................................................... 61 <br /> <br /> <br />7.C. - Page 13 of 269 <br />32