AgdaPkt 2003-01-13 - Laserfiche WebLink

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C5_ Capital Capital Projects Funds Summary Capital projects funds are used to account for the resources dedicated to the construction and acquisition of capital facilities except those capital facilities financed by enterprise funds. During the year ended June 30, 2002, total revenue for the GID 1 -64 facilities fee fund was $3.1 million compared to $4 million for the year ended June 30, 2001. The decrease was due to less building activity in the Redwood Shores area. The City expended over $8.6 million in 2001/02 for general capital projects. Some of the more visible projects on which funds were expended in FY 2001/02 include: the sidewalk replacement program ($1.2 million), medians and entry features ($1.2 million), 5`" Avenue /Bay Front storm drainage system improvements ($1.0 million), and play field renovations ($0.6 million). Enterprise Funds Summanr Water Fund For the fiscal year ended June 30, 2002, the water enterprise fund had net assets available for appropriation of $8.6 million. This amount is in addition to the $2.0 million emergency reserve and $500,000 operating reserve that the Council has directed staff to maintain. In terms of the City Council's adopted policy of total annual revenues and expenses in balance, cash basis revenues ($14.9 million) outpaced cash expenses and capital outlays ($14.1 million) by $0.8 million. Sewer Fund The sewer enterprise fund ended 2001/02 with $1.3 million in net assets available for appropriation, which is consistent with Council's direction to maintain a $1.0 million emergency reserve and a $250,000 operating reserve. The same Council policy of total annual revenues and expenses in balance applies to the sewer fund as well. Cash basis revenues of $9.7 million were in excess of cash expenses and capital outlays of $9.2 million. Parkino Fund Redwood City maintains on- street and off - street parking spaces within the downtown area. The parking fund had net income of $8,000 for the year ending June 30, 2002 while generating $114,000 of cash in 2001/02. The reason behind this apparent contradiction is that the parking fund is required to recognize non -cash expense (primarily depreciation).