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<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />PROPRIETARY FUNDS
<br />STATEMENT OF REVENUES, EXPENSES
<br />AND CHANGES IN FUND NET ASSETS
<br />FOR THE YEAR ENDED JUNE 30, 2004
<br />
<br /> Business- Type Activities-Enterprise Funds Governmental
<br /> Water Sewer Activities-
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br /> $ $ $ $ $ $
<br />Operating Revenues:
<br />Charges for services 16,352,876 10,223,204 412,521 5,341,727 32,330,328 11,981,485
<br />Total Operating Revenues 16,352,876 10,223,204 412,521 5,341,727 32,330,328 11,981,485
<br />Operating Expenses:
<br />Employee services 3,522,820 1,726,235 148,596 933,142 6,330,793 5,814,479
<br />Maintenance 779,829 455,862 59,920 92,781 1,388,392 1,531,320
<br />Water purchases 6,815,529 6,815,529
<br />Utilities 222,070 162,910 23,401 178,816 587,197 53,030
<br />Contractual services 467,018 5,789,598 12,956 902,462 7,172,034 819,558
<br />Supplies and services 3,944,043 2,254,415 87,827 654,338 6,940,623 1,111,791
<br />Depreciation and amortization 946,954 397,313 97,360 506,322 1,947,949 737,223
<br />Insurance and claims 3,212,486
<br />Total Operating Expenses 16,698,263 10,786,333 430,060 3,267,861 31,182,517 13,279,887
<br />Operating Income (Loss) (345,387) (563,129) (17,539) 2,073,866 1,147,811 (1,298,402)
<br />Nonoperating Revenues (Expenses):
<br />Gain (loss) on disposal of equipment (275,898) (275,898) 4,908
<br />Property taxes 26,095 26,095
<br />Contributions 83,009 216,870 299,879 96,301
<br />Interest income 378,183 108,377 23,093 103,241 612,894 427,848
<br />Net increase (decrease) in fair value of investments (258,382) (97,771) (20,833) (20,596) (397,582) (358,382)
<br />Interest expense (74,853) (18,538) (570,137) (663,528)
<br />Legal settlements 231,730 231,730
<br />Increase (decrease) in investment in sewer authorit~ (651,467) (651,467)
<br />Insurance recovery 49,892
<br />Net Nonoperating Revenues (Expenses) 44,948 (557,852) 9,817 (314,790) (817,877) 220,567
<br />Net Income (Loss) Before Operating Transfers (300,439) (1,120,981) (7,722) 1,759,076 329,934 (1,077,835)
<br />Transfers in 1,450,000
<br />Transfers (out) (24,389) ( 15 , 147) (39,536) (1,515,695)
<br />Net Transfers in (out) (24,389) ( 15 , 147) (39,536) (65,695)
<br />Change in net assets (324,828) (1,136,128) (7,722) 1,759,076 290,398 (1,143,530)
<br />Total net assets-beginning, restated 46,730,381 38,022,308 5,382,856 28,570,060 118,705,605 13,473,859
<br />Total net assets-ending 46,405,553 36,886,180 5,375,134 30,329,136 118,996,003 12,330,329
<br /> See accompanying notes to financial statements
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