|
City of Redwood City
<br />Management’s Discussion and Analysis (Unaudited) (Continued)
<br />For the Year Ended June 30, 2025
<br />
<br />
<br />11
<br />Changes in Net Position
<br />
<br />The City’s total net position increased by $32.7 million, or 4.61 percent, during the current fiscal year. This net
<br />increase is comprised of a $13.1 million increase in governmental activities net position and a $19.5 million increase in
<br />business-type activities net position. Further details on the increases in net position are described below.
<br />
<br />2025 2024 2025 2024 2025 2024 Variance
<br />Program Revenues $$$$$$
<br /> Charges for services:
<br /> General government 8,939 6,440 8,939 6,440 38.80%
<br /> Public safety 13,369 19,463 13,369 19,463 -31.31%
<br /> Public ways and facilities 4,755 47 4,755 47 10017.02%
<br /> Community development 11,888 14,193 11,888 14,193 -16.24%
<br /> Culture and leisure 5,019 4,469 5,019 4,469 12.31%
<br /> Water 52,114 48,279 52,114 48,279 7.94%
<br /> Sewer 50,478 47,278 50,478 47,278 6.77%
<br /> Parking 1,859 1,765 1,859 1,765 5.33%
<br /> Port of Redwood City 11,655 10,206 11,655 10,206 14.20%
<br /> Docktown Marina - 49 - 49 -100.00%
<br /> Operating grants and contributions:
<br /> General government 10,380 1,391 10,380 1,391 646.23%
<br /> Public safety 232 1,050 232 1,050 -77.90%
<br /> Public ways and facilities 6,446 - 6,446 - 100.00%
<br /> Community development 2,742 3,126 2,742 3,126 -12.28%
<br /> Culture and leisure 278 3,207 278 3,207 -91.33%
<br /> Water 254 - 254 - 100.00%
<br /> Port of Redwood City 422 314 422 314 34.39%
<br /> Parking 1 2 1 2 -50.00%
<br /> Capital grants and contributions:
<br /> General government 1,085 - 1,085 - 100.00%
<br /> Public ways and facilities 9,060 13,362 9,060 13,362 -32.20%
<br /> Community development 2,470 5,310 2,470 5,310 -53.48%
<br /> Culture and leisure 223 937 223 937 -76.20%
<br /> Water 2,085 147 2,085 147 1318.37%
<br /> Sewer 223 55 223 55 305.45%
<br /> General revenues:
<br /> Taxes/special assessments 151,855 157,138 464 514 152,319 157,652 -3.38%
<br /> Investment earnings 17,776 5,416 10,921 7,985 28,697 13,401 114.14%
<br /> Increase (decrease) in inv. in sewer auth.- - 805 (1,870) 805 (1,870) -143.05%
<br /> Other 5,729 121 21 - 5,750 121 4652.07%
<br /> Total revenues 252,246 235,670 131,302 114,724 383,548 350,394 9.46%
<br />Ex penses
<br /> General government 26,035 21,028 26,035 21,028 23.81%
<br /> Public safety 114,939 113,494 114,939 113,494 1.27%
<br /> Public ways and facilities 34,029 31,912 34,029 31,912 6.63%
<br /> Community development 15,517 25,005 15,517 25,005 -37.94%
<br /> Cultue and leisure 43,762 36,255 43,762 36,255 20.71%
<br /> Interest on long term debt 1,758 3,800 1,758 3,800 100.00%
<br /> Water 49,528 45,891 49,528 45,891 7.93%
<br /> Sewer 49,426 42,502 49,426 42,502 16.29%
<br /> Parking 4,841 4,552 4,841 4,552 6.35%
<br /> Port of Redwood City 10,306 8,039 10,306 8,039 28.20%
<br /> Docktown Marina 738 1,157 738 1,157 -36.21%
<br /> Total expenses 236,040 231,494 114,839 102,141 350,879 333,635 5.17%
<br />Change in net position before transfers 16,206 4,176 16,463 12,583 32,669 16,759 94.93%
<br />Transfers (3,078) (3,044) 3,078 3,044 - -
<br />Change in net position 13,128 1,132 19,541 15,627 32,669 16,759 94.93%
<br />Net position - June 30, 2024, as previously stated 292,569 291,437 381,384 365,757 673,953 657,194 2.55%
<br />Net position - June 30, 2024, restatements 34,745 - (216) - 34,529 - 100.00%
<br />Net position - June 30, 2024, as restated 327,314 291,437 381,168 365,757 708,482 657,194 7.80%
<br />Net position - June 30, 2025 340,442 292,569 400,709 381,384 741,151 673,953 9.97%
<br />(Amounts in thousands)
<br />Changes in Net Position
<br />Governmental
<br /> Activities
<br />Business-type
<br />Activities Total
<br />7.C. - Page 43 of 269
<br />62
|