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Net Change in Fund Balances - Total Governmental Funds 4,932,749$
<br />Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement of Activities
<br />and Changes in Net Position, the cost of those assets was allocated over their estimated useful lives as depreciation
<br />expenses. This is the amount of capital assets recorded in the current period (net of $2,062,719 added in internal
<br />service funds) ($368,510 of the governmental fund capital outlay balance were for repairs and maintenance
<br />expenditures).24,291,270
<br />In the Government-Wide Statement of Activities, donated assets are reported as a capital contribution.9,059,875
<br />Depreciation and amortization expense on capital assets was reported in the Government-Wide Statement of Activities
<br />and Changes in Net Position, but they did not require the use of current financial resources. Therefore, depreciation
<br />and amortization expense, net of internal service funds of $7,593,062, was not reported as expenditures in the
<br />Governmental Funds.(13,287,667)
<br />Repayment of long-term liabilities was an expenditure in governmental funds, but the repayment reduced long-term
<br />liabilities in the Government-Wide Statement of Net Position.
<br />Principal payment of long-term debt 1,430,445
<br />Amortization of bond premium 241,060
<br />Interest expense on long-term debt was reported in the Government-Wide Statement of Activities,but it did not require
<br />the use of current financial resources. This amount represented the changes in accrued interest from prior year.(155,421)
<br />Compensated absences expenses reported in the Government-Wide Statement of Activities do not require the use of
<br />current financial resources and, therefore, are not reported as expenditures in the governmental funds.(6,052,704)
<br />Revenues that are not considered to be available are reported as unavailable revenues in the governmental funds,
<br />however, these amounts are recognized in the Government-Wide Statement of Activities. This amount represents the
<br />change in unavailable revenues.412,756
<br />Certain pension expenses reported in the Government-Wide Statement of Activities do not require the use of current
<br />financial resources and therefore, are not reported as expenditures in governmental funds.
<br />Changes in pension related deferred outflows of resources (13,600,195)
<br />Changes in net pension liabilities 4,746,178
<br />Changes in pension related deferred inflows of resources 530,979
<br />Certain OPEB expenses reported in the Government-Wide Statement of Activities do not require the use of current
<br />financial resources and therefore, are not reported as expenditures in governmental funds.
<br />Changes in OPEB related deferred outflows of resources (1,552,655)
<br />Changes in total OPEB liabilities (140,477)
<br />Changes in OPEB related deferred inflows of resources 2,271,465
<br />The internal service funds are used by management to charge the costs of fleet maintenance, facilities maintenance, and
<br />technology to individual funds. The net revenue of certain activities of internal service funds is reported with
<br />governmental activities.245,860
<br />Change in Net Position of Governmental Activities 13,128,182$
<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 Statement of Revenues, Expenditures, and Changes
<br />in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Position
<br />For the Year Ended June 30, 2025
<br />See accompanying Notes to the Basic Financial Statements.
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