HomeMy WebLinkAbout1991-03-13 - AGENDA REPORTS - RPT CAPITAL FACILITY FEE (2)CONSENT CALENDAR
DATE: March 13, 1991
AGENDA REPORT
City Manager Approval
Item to be presented b
Andrea Daroca
SUBJECT: Report on Capital Facility Fee Accounts
DEPARTMENT: Finance
Sections 66006 e.t. seq. of the Government Code invoke a city's right to charge
or increase an existing facilities fee or impose new capital facilities fees on
development projects. Existing law requires that all capital facilities fees
collected for a development project must be deposited in a separate fund or
account by the city.
Section 66006 .amends the above sections and requires that, for each separate
account established for such fees, the city must make available to the public at
the close of each fiscal year information regarding the beginning. and ending
balance in the account, all income deposited into the account, all expenditures
made for public facilities, and all refunds issued during the fiscal year.
Accounts which fall under this requirement include: city Quimby funds; bridge
and thoroughfare -districts; and developer fee and park improvement funds.
Normally, this information will be presented within 60 days of the fiscal year-
end, but availability of this information had not yet been. established because
the annual audit had not been completed by the city's auditors, thus preventing
initial compliance with this statute. At this time, staff is now in possession
of such information and Council may proceed with the requirements of this
statute.
RECOMMENDATION
That City Council review and file information.
Exhibit A APP
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Agenda Item:
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Exhibit A
CITY OF SANTA CLARITA
Recap of Fund Activity
Fiscal Year 1989-90
Summary
PARK IMPROVEMENT FUND (06)s
Beginning Fund Balance 689,101.72
Cash Disbursements - Canyon Country Park (818,866.61)
Cash Receipts - Park In-Liue (Quimby) Fees 201,711.43
Accrued Interest 39,569.00
Y/E Fund Balance 111,515.54
BOUQUET CANYON B&T DISTRICT (41)
Beginning Fund Balance 23,178.82
Cash Receipts - Landmark Associates 697,480.00
Cash Disbursements - Bouquet District Formation (5,964.77)
Interest Allocation 41,152.00
Interest Accrued 15,753.00
Accounts Payable (5,964.77)
Y/E Fund Balance 765,634.28
ROUTE 126 B&T DISTRICT (42)
Beginning Fund Balance 147,050.77
Checks - Route 126 District Formation (3,042.62)
Cash Receipts - Developer Assessments 32,718.15
Interest Allocation 7,914.00
Interest Accrued 3,848.00
Accounts Payable (2,761.97)
Ending Balance 185,726.33
OTHER BRIDGE & THOROUGHFARE DISTRICTS (43)
Valencia B&T District, Via Princessa B&T District
Beginning Fund Balance
35,495.64
Cash Receipts - Developer Assessments
369,835.16
Cash Disbursements - Via Princessa
(26,242.90)
Cash Disbursements - Rio Vista
(231,784.28)
Interest Allocation
20,576.00
Interest Accrued
4,197.00
Accounts Payable
(7,928.30)
Ending Balance
164,148.32