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Governmental Business-Type
<br />Activities Activities Total
<br />LIABILITIES
<br />Current liabilities:
<br />Accounts payable 11,564,586 9,058,286 20,622,872
<br />Retention payable 986,973 528,385 1,515,358
<br />Accrued payroll 9,137,155 68,477 9,205,632
<br />Deposits payable 10,625,030 2,410,527 13,035,557
<br />Interest payable 156,980 535,437 692,417
<br />Unearned revenue 14,292,561 2,136,992 16,429,553
<br />Compensated absences - due within one year 9,195,988 954,537 10,150,525
<br />Claims payable - due within one year 5,720,879 - 5,720,879
<br />Long-term debt - due within one year 1,795,953 3,740,008 5,535,961
<br />Total current liabilities 63,476,105 19,432,649 82,908,754
<br />Noncurrent liabilities:
<br />Net OPEB liability 47,852,904 5,575,549 53,428,453
<br />Net pension liability 269,332,801 26,734,817 296,067,618
<br />Compensated absences - due in more than one year 15,420,220 1,196,318 16,616,538
<br />Claims payable - due in more than one year 24,797,849 - 24,797,849
<br />Long-term debt - due in more than one year 59,944,161 38,458,399 98,402,560
<br />Total noncurrent liabilities 417,347,935 71,965,083 489,313,018
<br />Total liabilities 480,824,040 91,397,732 572,221,772
<br />
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred amount on refunding - 708,513 708,513
<br />Related to leases 1,756,670 10,932,756 12,689,426
<br />Related to OPEB 3,300,827 349,658 3,650,485
<br />Total deferred inflows of resources 5,057,497 11,990,927 17,048,424
<br />NET POSITION
<br />Net investment in capital assets 306,529,564 213,598,348 520,127,912
<br />Restricted:
<br />Section 115 pension trust 31,580,588 - 31,580,588
<br />Capital projects 13,089,934 10,149,345 23,239,279
<br />Debt service 95,872 1,109,134 1,205,006
<br />Public safety 1,341,480 - 1,341,480
<br />Transportation 32,548,786 - 32,548,786
<br />Community development 53,275,991 - 53,275,991
<br />Culture and leisure 158,646 - 158,646
<br />Other purposes 6,054,118 - 6,054,118
<br />Total restricted 138,145,415 11,258,479 149,403,894
<br />Unrestricted (deficit)(104,233,098) 175,852,359 71,619,261
<br />340,441,881$ 400,709,186$ 741,151,067$ Total net position
<br />Primary Government
<br />City of Redwood City
<br />Statement of Net Position (Continued)
<br />June 30, 2025
<br />See accompanying Notes to the Basic Financial Statements.
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