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<br />Water Customers and Revenues. The following table sets forth a breakdown of
<br />revenues of the Enterprise by customer type for Fiscal Year 2003-04 (excluding revenues
<br />derived from connection fees, late payment penalties and shut-off fees).
<br />
<br />Table 14
<br />Revenues by Customer Type
<br />2003-04
<br />
<br /> Number of Consumption Percent of Total Total Percent of
<br /> Accounts (cubic feet) Consumption Revenues Total Revenue
<br />Residential
<br />Single-family 18,872 3,159,649 56% $7,536,871 48%
<br />Multi-family 1,582 903,919 16 3,431,037 22
<br />Sub-total 20,454 4,063,568 72 10,967,908 70
<br />Non-Residential
<br />Commercial 2,374 1 ,495,228 27 4,527,429 29
<br />Industrial 90 75,207 1 162,408 1
<br />Sub-total 2,464 1 ,570,435 28 4,689,837 30
<br />Total 22,91 8 5,634,003 100% $15,657,745 1 00%
<br />Source: City of Redwood City.
<br />
<br />The following table sets forth the revenues of the Enterprise derived from water
<br />connection and facilities fees since Fiscal Year 1998-99.
<br />
<br />Table 15
<br />Revenues from Connection and Facilities Fees
<br />
<br /> FY 1998-99 FY 1999-00 FY 2000-01 FY 2001-02 FY 2002-03 FY2003-04 *
<br />Connection Fees $345,654 $193,729 $225,495 $111,329 $48,826 $125,097
<br />Facilities Fees 518,724 452,762 475,699 267,446 239,378 345,097
<br />Total $864,378 $646,491 $701,940 $378,775 $288,040 $470,194
<br />
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<br />
<br />Source: City of Redwood City.
<br />*Unaudited.
<br />
<br />ENTERPRISE FINANCIAL INFORMATION
<br />
<br />Budgetary Process
<br />
<br />The fiscal year of the City begins on the first day of July of each year and ends on the
<br />thirtieth day of June the following year. Formal budgetary integration is employed as a
<br />management control device during the year for the general fund, special revenue funds, debt
<br />service funds and capital project funds. Budgets for the general, special revenue, debt service
<br />and capital projects funds (except the General Improvement District 1-64 construction fund) are
<br />adopted on a basis consistent with generally accepted accounting principles, except for capital
<br />outlay in special revenue and capital projects funds which is budgeted on a project length basis.
<br />Budget requests are submitted by departmental managers to the City Manager for review. The
<br />City Manager and the Finance Director meet with department heads to review the requests and
<br />establish program objectives for the coming year. The City Manager then prepares his
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