TO: Honorable Mayor and Members of the City Council
THRU: Rick Otto, City Manager
FROM: Will Kolbow, Assistant City Manager/Administrative Services Director
1. SUBJECT
title
Submittal of annual financial reports for development impact fees for Fiscal Year 2019-2020.
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2. SUMMARY
In accordance with Section 66006 of California Government Code the City is required to annually report on the status of Development Impact Fees, including the collection of revenue and expenditures of these funds. This report summarizes the required financial information for Fiscal Year 2019-2020.
3. RECOMMENDED ACTION
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Receive and file the annual financial reports relating to Transportation System Improvement Program Fees, Park Infill Fees, Fire Protection Facilities Fees, Police Facility Development Fees, and Library Facilities Development Fees.
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4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
d: Effectively manage and develop City assets.
6. DISCUSSION AND BACKGROUND
The California Government Code Sections 66000 through 66006 contain certain procedural requirements that apply to the collection of development impact fees and the expenditure of these revenues. Section 66006 of the California Government Code specifies accountability and annual reporting requirements pertaining to development impact fees. SB 1693 modified this government code section as of January 1, 1997. The report must include a description of the fee type in the account, the amount of the fee, beginning and ending balances, fee and interest income, expenditures by improvement, a description of interfund loans or transfers, including purpose, interest rate and term, and any refunds. The report must also determine whether funds are available to construct improvements while also identifying construction dates for projects with adequate funding.
This report presents a review only of the development impact fee activity, by account, for th...
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