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Total Fund Balances - Total Governmental Funds 256,427,933$
<br />Some receivables will not be available to pay for current‐period expenditures and are offset by unavailable
<br />revenues in the governmental funds and thus are not included in fund balance. Certain interest revenues that are
<br />considered unavailable for governmental funds but are recognized as revenue for the government‐wide statements.2,892,246
<br />Capital Assets used in the governmental activities were not financial resources and therefore were not reported in
<br />the Governmental Funds Balance Sheet.
<br />Government-Wide Statement of Net Position 363,509,015
<br />Less: amount reported in Internal Service Funds (17,201,089)
<br />346,307,926
<br />Long-term liabilities are not due and payable in the current period and therefore were not reported in the
<br />Governmental Funds Balance Sheet.
<br />Amount reported in Government-Wide Statement of Net Position
<br />Long-term debt (61,740,114)
<br />Compensated absences (24,616,208)
<br />Less: amount reported in Internal Service Funds:
<br />Long-term debt 592,029
<br />Compensated absences 2,036,957
<br />(83,727,336)
<br />Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not
<br />reported as a liability in the governmental funds.(155,421)
<br />Aggregate net pension liability and total OPEB liability used in the governmental activities were not financial
<br />resources and therefore were not reported in the Governmental Funds Balance Sheet.
<br />Net pension liability (269,332,801)
<br />Net OPEB liability (47,852,904)
<br />Less: amount reported in Internal Service Funds:
<br />Net OPEB liability 4,729,280
<br />Net pension liability 21,241,350
<br />(291,215,075)
<br />Differences between expected and actual experiences, assumption changes and net differences between projected
<br />and actual earnings and contributions subsequent to the measurement date for the post-retirement benefits
<br />(pension and OPEB) are recognized as deferred outflows of resources and deferred inflows of resources on the
<br />statement of net position.
<br />Amount reported in Government-Wide Statement of Net Position
<br />Deferred outflows of resources related to OPEB 20,771,861
<br />Deferred outflows of resources related to pensions 56,611,963
<br />Deferred inflows of resources related to OPEB (3,300,827)
<br />Less: amount reported in Internal Service Funds:
<br />Deferred outflows of resources related to OPEB (2,052,872)
<br />Deferred outflows of resources related to pensions (4,737,462)
<br />Deferred inflows of resources related to OPEB 326,219
<br />Total deferred outflows of resources 67,618,882
<br />Internal service funds are used by management to charge the cost of fleet management, risk management,
<br />information technology, and building maintenance to individual funds. The assets and liabilities of the internal
<br />service funds are included in the governmental activities in the statement of net position.42,292,726
<br />Net Position of Governmental Activities 340,441,881$
<br />Amounts reported for Governmental Activities in the Statement of Net Position were different because:
<br />City of Redwood City
<br />Reconciliation of the Governmental Funds Balance Sheet
<br />to the Government-Wide Statement of Net Position
<br />June 30, 2025
<br />See accompanying Notes to the Basic Financial Statements.
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