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Water Sewer Port of
<br />Fund Fund Redwood City
<br />OPERATING REVENUES:
<br />Charges for services 52,114,552$ 50,477,963$ 11,655,294$
<br />Total operating revenues 52,114,552 50,477,963 11,655,294
<br />OPERATING EXPENSES:
<br />Employee services 9,632,695 3,712,911 3,068,472
<br />Maintenance 903,765 240,191 2,426,523
<br />Water purchases 23,981,349 - -
<br />Utilities 711,386 396,993 433,169
<br />Contractual services 2,211,593 1,431,044 41,595
<br />Supplies and services 6,621,401 42,003,571 1,430,461
<br />Depreciation and amortization 4,028,151 1,514,841 1,154,116
<br />Insurance and claims 514,944 126,173 636,330
<br />Total operating expenses 48,605,284 49,425,724 9,190,666
<br />OPERATING INCOME (LOSS)3,509,268 1,052,239 2,464,628
<br />NONOPERATING REVENUES (EXPENSES):
<br />Gain (loss) on sale of capital assets - - -
<br />Property taxes - - -
<br />Grant revenue 253,729 - 421,636
<br />Investment income 5,576,278 2,836,447 1,374,126
<br />Interest expense (922,500) - (384,867)
<br />Increase (decrease) in investment in Sewer Authority - 804,554 -
<br />Other income (expense)20,715 - (730,575)
<br />Total nonoperating revenues (expenses)4,928,222 3,641,001 680,320
<br />INCOME (LOSS) BEFORE CAPITAL
<br />CONTRIBUTIONS AND TRANSFERS 8,437,490 4,693,240 3,144,948
<br />CAPITAL CONTRIBUTIONS AND TRANSFERS
<br />Capital contributions 2,085,898 222,527 -
<br />Transfers in 1,444,296 - -
<br />Transfers out - (747,151) -
<br />Total capital contributions and transfers 3,530,194 (524,624) -
<br />Changes in net position 11,967,684 4,168,616 3,144,948
<br />NET POSITION:
<br />Beginning of year, as previously reported 137,356,789 153,364,480 53,683,965
<br />Adjustments (84,826) (64,245) -
<br />Beginning of year, as restated (Note 19)137,271,963 153,300,235 53,683,965
<br />End of year 149,239,647$ 157,468,851$ 56,828,913$
<br />Major Funds
<br />City of Redwood City
<br />Statement of Revenues, Expenses, and Changes in Net Position
<br />Proprietary Funds
<br />For the Year Ended June 30, 2025
<br />See accompanying Notes to the Basic Financial Statements.
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