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MA,v,6.1.F. - Page 36 �D ANALYSIS Changes in City's Net Assets(in Millions) Governmental Business-type Activities Activities Total 2012 2011 2012 2011 2012 2011 Variance Revenues $ $ $ $ $ $ Program revenues: Community development 6.493 8.318 6.493 8.318 -21.940% Human Services 0.478 0.530 0.478 0.530 -9.811% Publicsafety 5.324 5.507 5.324 5.507 -3.323% Transportation 7.326 5.064 7.326 5.064 44.668% Environmental support and protection 2.146 1.402 2.146 1.402 53.067% Leisure,cultural and information services 5.486 4.430 5.486 4.430 23.837% Policy development and implementation 1.891 1.877 1.891 1.877 0.746% Water 28.465 26.038 28.465 26.038 9.321% Sewer 26.898 24.158 26.898 24.158 11.342% Pa rk i ng 1.268 1.100 1.268 1.100 15.273% Port of Redwood City 7.638 7.674 7.638 7.674 -0.469% General revenues: Taxes/special assessments 79.027 80.725 0.077 0.028 79.104 80.753 -2.042% Investmentearnings 0.579 1.042 0.282 0.327 0.861 1.369 -37.107% Other 1.261 1.598 0.015 0.017 1.276 1.615 -20.991% Totalrevenues 110.011 110.493 64.643 59.342 174.654 169.835 2.837% Expenses Community development 22.954 17.702 22.954 17.702 29.669% Human services 1.496 1.582 1.496 1.582 -5.436% Publicsafety 50.621 46.023 50.621 46.023 9.991% Transportation 11.353 11.650 11.353 11.650 -2.549% Environmental support and protection 2.328 2.920 2.328 2.920 -20.274% Leisure,cultural and information services 21.682 21.547 21.682 21.547 0.627% Policy development and implementation 4.774 5.529 4.774 5.529 -13.655% Interest on long term debt 1.615 2.551 1.615 2.551 -36.691% Water 28.681 21.889 28.681 21.889 31.029% Sewer 20.017 19.900 20.017 19.900 0.588% Parking 2.420 2.421 2.420 2.421 -0.041% Port of Redwood City 4.739 4.252 4.739 4.252 11.453% Total expenses 116.823 109.504 55.857 48.462 172.680 157.966 9.315% Change in net assets before transfers and extraordinary item (6.812) 0.989 8.786 10.880 1.974 11.869 -83.368% Transfers (0.608) (0.729) 0.608 0.729 Extraordinary item-RDA dissolution 19.162 19.162 100.000% Change in net assets 11.742 0.260 9.394 11.609 21.136 11.869 78.077% Netassets-July1 261.148 260.888 173.207 161.598 434.355 422.486 2.809% Netassets-June30 272.890 261.148 182.601 173.207 455.491 434.355 4.866% GOVERNMENTAL ACTIVITIES Governmental activities prior to transfers and extraordinary items decreased the City's net assets by $6.8 million. Including transfers and extraordinary items, governmental activities increased $11.7 million. Transfers in FY 2011/12 consisted of the transfer out of the general fund to the parking fund to cover parking operations. Key elements of the increase/decrease in revenues for governmental activities are as follows: General governmental revenues decreased by 3%, or $2.5 million from FY 2010/11 as all broad categories of general revenues decreased. 8