Review Agenda Item
Meeting Date: 11/10/2020 - 7:00 PM
Category: CONSENT ITEMS - RESOLUTIONS
Type: Action
Subject: 12.3 Resolution No. 121-20/21, Regarding Accounting of Developer
Fees for the 2019-2020 Fiscal Year in the Capital Facilities Fund
:
Attachment Summary
File Attachment:
Resolution #121-2021 Regarding Accounting of Developer Fees.pdf
Quick Summary / Abstract:
Background: 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.
Status The financial statement of the Capital Facilities Fund was made
public at the September 15, 2020 Board Meeting. The Developer Fee
Annual Report is made available to the public as Attachment A to
Resolution No. 121-20/21, presented at the November 10, 2020 Board meeting.
Fiscal Impact The audited balance in the Capital Facilities Fund (Fund 25) on June
30, 2020 was $3,291,849. These funds are restricted for facility
construction and improvement projects.
Superintendent's Recommendation: Our Superintendent recommends approval of Resolution No. 121-20/21 Regarding Accounting of Developer Fees for the 2019-2020 Fiscal Year in the Capital Facilities Fund.
Approvals:
Recommended By:
Signed By:
Jodi Robison - Executive Assistant
Signed By:
Susan Kinder - Assistant Superintendent
Signed By:
Kelly Bowers, Ed.D. - Superintendent
Vote Results:

Original Motion
Member Chuck Rogge Moved, Member Emily Prusso seconded to approve the Original motion 'Our Superintendent recommends approval of Resolution No. 121-20/21 Regarding Accounting of Developer Fees for the 2019-2020 Fiscal Year in the Capital Facilities Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 10 Nay: 0.
The motion Carried 10 - 0
   
Craig Bueno     Yes
Chuck Rogge     Yes
Chris Wenzel     Yes
Anne White     Yes
Emily Prusso     Yes
Craig Bueno     Yes
Chuck Rogge     Yes
Chris Wenzel     Yes
Anne White     Yes
Emily Prusso     Yes