AgdaPkt 2005-01-24 - Laserfiche WebLink

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MANAGEMENT'S DISCUSSION AND ANALYSIS GOVERNMENT AL ACTIVITIES Governmental activities increased the City's net assets by $7.7 million, thereby accounting for 96% of the total growth in the City's net assets. Key elements of this increase are as follows: Changes in City's Net Assets (in Millions) Governmental Busin ess- type Activities Activities Total 2004 2003 2004 2003 2004 2003 Variance Revenues $ $ $ $ $ $ Program revenues: Community development 4.703 3.953 4.703 3.953 18.973% Human Services 0.376 0.382 0.376 0.382 -1.571% Public safety 4.991 5.698 4.991 5.698 -12.408% Transportation 8.700 7.116 8.700 7.116 22.260% Environmental support and protection 1.809 2.262 1.809 2.262 -20.027% Leisure, cultural and information service 6.823 5.141 6.823 5.141 32.717% Policy development and implementation 1.667 0.599 1.667 0.599 178.297% Water 16.353 13.870 16.353 13.870 17.902% Sewer 10.306 9.391 10.306 9.391 9.743% Parking 0.412 0.457 0.412 0.457 -9.847% Port of Redwood City 5.559 4.862 5.559 4.862 14.336% General revenues: T axes/ special assessments 61.594 58.951 0.026 0.026 61.620 58.977 4.481 % Investment earnings 0.484 4.200 0.215 0.921 0.699 5.121 -86.350% Other 1.732 1.454 (0.419) 0.297 1.313 1.751 -25.014% Total revenues 92.879 89.756 32.452 29.824 125.331 119.580 4.809% Expenses Community development 13.888 12.831 13.888 12.831 8.238% Human services 1.255 1.336 1.255 1.336 -6.063% Public safety 34.738 32.508 34.738 32.508 6.860% Transportation 8.626 9.981 8.626 9.981 -13.576% Environmental support and protection 1.907 1.817 1.907 1.817 4.953% Leisure, cultural and information services 18.107 18.899 18.107 18.899 -4.191 % Policy development and implementation 3.381 4.151 3.381 4.151 -18.550% Interest on long term debt 3.344 2.381 3.344 2.381 40.445% Water 16.773 15.001 16.773 15.001 11.813% Sewer 10.786 10.653 10.786 10.653 1.248% Parking 0.449 0.493 0.449 0.493 -8.925% Port of Redwood City 4.114 2.803 4.114 2.803 46.771 % Total expenses 85.246 83.904 32.122 28.950 117.368 112.854 4.000% Change in net assets before transfers 7.633 5.852 0.330 0.874 7.963 6.726 18.391 % Transfers 0.040 0.293 (0.040) (0.293) Change in net assets 7.673 6.145 0.290 0.581 7.963 6.726 18.391 % Net assets - July 1 231.486 225.341 118.706 118.125 350.192 343.466 1.958% Net assets - June 30 239.159 231.486 118.996 118.706 358.155 350.192 2.2740/0 Key elements of the increase/decrease in revenues for governmental activities are as follows: General governmental revenues increased about 3.5%, or $3.123 million from FY 2002/03 due primarily to increases in tax revenues and grants received. Community development revenues were higher in FY 2003/04 due to an increase in development-related grant revenue. Transportation revenues increased due to contributions from property owners for street improvements. 7