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6.1 B
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<br /> NOTE 4 — CAPITAL ASSETS (CONTINUED�
<br /> Governmental Activities
<br /> Community Development $ 213,048
<br /> Human Services 77,988
<br /> Public Safety 1,146,961
<br /> Transportation 4,892,719
<br /> Leisure, cultural, and information services 1,897,951
<br /> Policy development and implementation 808,840
<br /> Environmental support and protection 182,323
<br /> Total Depreciation Expense-Governmental Activities $ 9,219,830
<br /> Business-Type Activities
<br /> Water Utility Fund $ 2,056,252
<br /> Sewer Utility fund 462,046
<br /> Parking Fund 580,047
<br /> Port of Redwood City 606,616
<br /> Total Depreciation Expense-Business-Type Activities $ 3,704,961
<br /> NOTE S— INVESTMENT IN SOUTH BAYSIDE SYSTEM AUTHORITY
<br /> Redwood City has an investment of $28,555,063 in a joint powers authority (JPA) with the cities of San
<br /> Carlos and Belmont and the West Bay Sanitation District. In addition, the City and the Port of Redwood
<br /> City have investments of $2,461,885 and $400,000, respectively, in South Bayside System Authority
<br /> (SBSA) stage II construction. SBSA operates and maintains a sewer plant which was jointly constructed
<br /> with federal and state grants and contributions from participating entities. The SBSA is run by its board
<br /> of directors which is comprised of four members. The City Councils of each member city and the board
<br /> of the West Bay Sanitation District each select one of their own members to serve on this board. No
<br /> member agency has control of SBSA's budget, finances, or operations. The board acts autonomously of
<br /> the respective member agencies.
<br /> Audited financial statements are available from South Bayside System Authority, 1400 Radio Road,
<br /> Redwood City, CA 94065. The condensed financial information of the JPA as of June 30, 2010 is as
<br /> follows:
<br /> Total Assets $ 142,492,790
<br /> Total Liability 72,564,790
<br /> Total Fund Equity $ 69,928,000
<br /> Total Operating Revenues $ 25,923,456
<br /> Total Operating Expenses 19,496,544
<br /> Total Operating Income (loss) 6,426,912
<br /> Other Income (loss) 1,321,871
<br /> Net Income (loss) $ 7,748,783
<br /> Cumulative Agency Balances:
<br /> Belmont $ 12,814,028
<br /> San Carlos 8,612,707
<br /> Redwood City 31,016,948
<br /> West Bay Sanitation District 17,484,317
<br /> Capital Assets (net depreciation) $ 69,928,000
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