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Meeting Date:
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11/16/2021 - 7:00 PM
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Category:
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CONSENT ITEMS - RESOLUTIONS
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Type:
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Action
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Subject:
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12.2 Resolution No. 023-21/22, Regarding Accounting of Developer
Fees for the 2020-2021 Fiscal Year in the Capital Facilities Fund
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Attachment Summary
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File Attachment:
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Quick Summary / Abstract:
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Background:
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By California statute, local public agencies are required to make a public report on their use of developer fees each year. By law, all developer fees collected must be placed in a separate Capital Facilities fund. Interest accruing to the fund must also be used for capital facilities expenses. Local agencies are required to make available to the public an annual accounting for the Developer Fee Fund per SB 201 and AB 2926. The report must include the beginning and ending balances for the fiscal year and all income to the fund and expenditures out of the fund. In addition, Government Code Section 66006 requires the local agency to review the balance for the fund not less than 15 days after the information is made available for public inspection.
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Status
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The financial statement of the Capital Facilities Fund was made
public at the September 7, 2021 Board Meeting. The Developer Fee
Annual Report is made available to the public as Attachment A to
Resolution No. 023-20/21, presented at the November 16, 2021 Board meeting.
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Fiscal Impact
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The audited balance in the Capital Facilities Fund (Fund 25) on June
30, 2021 was $2,372,996. These funds are restricted for facility
construction and improvement projects.
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Superintendent's Recommendation:
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Our Superintendent recommends approval of Resolution No. 023-21/22 Regarding Accounting of Developer Fees for the 2020-2021 Fiscal Year in the Capital Facilities Fund.
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Approvals:
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Recommended By:
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Signed By:
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Jodi Robison - Executive Assistant
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Signed By:
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Susan Kinder - Assistant Superintendent
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Signed By:
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Kelly Bowers, Ed.D. - Superintendent
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