AgdaPkt 2005-01-24 - Laserfiche WebLink

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This report includes all funds of Redwood City. The City Council serves in separate session as the governing bodies of the Redwood City Redevelopment Agency, the Redwood City Facilities and Infrastructure Authority, and the Public Financing Authority although these agencies are legal entities apart from the City. Under the City Charter, the City Council appoints the Board of Port Commissioners who oversees the operations of the Port of Redwood City, which is considered a department of the City of Redwood City. The general fund of the Redevelopment Agency and the agency's low and moderate income housing fund are shown as special revenue funds. Debt service paid during the year is shown under debt service funds. The Port of Redwood City is an enterprise activity and is presented as an enterprise fund. Financial information for separate legal entities related to the City including the Redwood City Facilities and Infrastructure Authority, Redwood City Public Financing Authority, and Redwood City Redevelopment Agency is blended in the City's financial statements in accordance with Governmental Accounting Standards Board Statement No. 14. MAJ 0 R INITIATIVE S Redwood City sponsors two initiatives whose sole objective is to engage and connect with the people who live and work here - to build a great community together. First is the ongoing Partnership Academy for Community Teamwork (PACT), which began in September, 2002. This is a free nine-week citizens' academy providing participants with a hands-on overview of the operation, management, and governance of Redwood City. At the same time, this program helps to build relationships between neighbors, residents, and City staff that strengthen our community. Twice a year, once in the spring and once in the fall, 40 participants gather one evening each week to participate in interactive and informative activities and presentations on specific departments. They spend time with staff from those departments offering an opportunity for both group and one-on-one discussion and questions and answers. Each week's session includes dinner during which specially-crafted community-based questions are posed for round-table discussions that are designed to focus on community connections and community action and involvement. This program has met with great success, based on the evaluation comments that each participant provides after each session. These participants become, in effect, ambassadors for the City throughout the community. Second is a program that began as a 'graduate course' for those that completed the PACT program. It has evolved into a wider-reaching program entitled' Community Builders.' This is a free six-session course designed to bring out citizens' community-building ideas and dreams, offer theoretical and pragmatic information on how to effect positive change in our community, present opportunities for people to connect with others of like-mind, and to then move forward with specific actions for enhancing our streets, blocks, neighborhoods, and communities. As presenters, the program features internationally-renowned speakers, authors, and thinkers in the field of community building. The City sponsored this program once in 2004, and will do so again once in 2005. FIN AN C IAL INFO RMA TI ON Accounting System and Budgetary Control The City's accounting records for governmental operations are maintained on a modified accrual basis, with the revenues being recorded when both measurable and available, and expenditures being recorded when the services or goods are received and the liabilities are incurred. Accounting records for the City's enterprises are maintained on the accrual basis. In developing and modifying the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: . The safeguarding of assets against loss from unauthorized use or disposition, and . . 11