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Home My WebLink About2001-12-18; City Council; 16478; Capital Funds Annual Financial ReportCITY OF CARLSBAD -AGENDA BILL ii AB# tl0!47~ MTG. 12/18/01 DEPT. FIN TITLE: ANNUAL FINANCIAL REPORT ON CAPITAL FUNDS I DEPTHD. (i@- SUBJECT TO GOVERNMENT CODE SECTION 66006 CITY ATTY.& I AND GOVERNMENT CODE SECTION 66001 1 CITY MGR.q RECOMMENDED ACTION: Adopt Resolution No. aool -3 76 making certain findings pursuant to California Government Code Section 66001. ITEM EXPLANATION: The California Government Code Section 66006 requires local agencies to annually report certain financial information related to capital funds, which were established to track fees charged in connection with the approval of a development project. The information which is required by the Government Code includes a description of the fee, the amount of the fee, the beginning and ending balance of the fund, the amount of the fees collected and the interest earned, an identification and amount of each public improvement on which fees were expended, the total percentage of the project funded by that fee, the approximate date by which the construction of the public improvement will commence, a description of each inter-fund transfer or loan including the project to be funded with the loan and the approximate date of repayment, and any refunds made to developers pursuant to the Code. This information must be made available within 180 days of the end of the fiscal year and must be reviewed at the next regularly scheduled meeting not less than 15 days after the information is available. The attached report provides the information required by the Government Code for the development fees which fall under this disclosure requirement. No refunds have been made nor are any required. More information on these funds and all other capital funds is available in the annual Capital Improvement Program, which was adopted by Council in June and in the Comprehensive Annual Financial Report which will be available in December 2001. This report was compiled with the audited City financial records. These audited figures are also available in the City’s Comprehensive Annual Financial Report (CAFR). In addition to the required reporting under Code Section 66006, the California Government Code Section 66001 requires local agencies to make the following findings every five years with respect to that portion of the fund remaining unexpended, whether committed or uncommitted, for the development fee funds: 1. Identification of the purpose to which the fee is to be put. 2. Demonstration of a reasonable relationship between the fee and the purpose for which it is charged. 3. Identification all sources and amounts of funding anticipated to complete financing on incomplete improvements. 4. The approximate dates on which the funding referred to above is expected to be deposited into the appropriate account or fund. The information to make the findings for the four (4) requirements, can be found in the 2001-02 Capital Improvement Program (CIP), on file with the City Clerk. When findings are required by this subdivision, they need to be made in connection with the public information required by Code Section 66006. The attached resolution makes these findings in accordance with Code Section 66001. Since these findings have been made, and the City is in compliance with the code, no refunds are required. I PAGE TWO OF AGENDA BILL NO. 4, Y78 FISCAL IMPACT: There is no fiscal impact. EXHIBITS: 1. Resolution No. &!W I -3 7!7 to make certain findings pursuant to California Government Code Section 66001. 2. Financial Information Report, Capital Funds Subject to Government Code Section 66006. 3. The 2001-02 Capital Improvement Program (CIP) on file with the City Clerk. 3 II EXEIBIT 1 RESOLUTION NO. 2001-376 A RESOLUTtON OF THE CtTY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, TO MAKE CERTAIN FINDINGS PURSUANT TO CALIFORNIA GOVERNMENT CODE SECTION 66001 5 WHEREAS, the City of Carlsbad is’required to make certain findings every five 6 years with respect to the unexpended fund balance of certain development fee funds 7 pursuant to California Government Code Section 66001; and a 9 WHEREAS, the information to make the required findings can be found in’the 10 11 12 13 14 15 16 17 ia 19 20 21 2001-02 Capital Improvement Program on file with the City Clerk; and WHEREAS, these findings need to be made in conjunction with the public information required by Code Section 66006. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as follows: 1. That the above recitations are true and correct. 2. That the following findings are made as required under the Government Code Section 66006: a. That the purpose to which the developer fee is to be put has been identified. b. That a reasonable relationship has been demonstrated between 22 II the fee and the purpose for which it is charged. 23 24 25 26 27 28 C. That all sources and amounts of funding anticipated to complete financing on incomplete improvements have been identified. d. That the approximate dates on which the funding referred to above is expected to be deposited into the appropriate fund has been designated. ill 1 2 3 4 5 6 7 a 9 ,I0 11 12 13 14 15 16 17 ia 19 20 21 22 23 24 25 26 27 28 3. That these findings are based on information provided in the City of Cartsbad Operating Budget and Capital tmprovement Program 2001-2002, which is incorporated herein by reference. PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council held on the 18th day of DECEMBER , 2001 by the following vote, to wit: AYES: Council Members Lewis, Kulchin, Finnila, Nygaard, Hall NOES: None ABSENT: None ATTEST: gi(, 3 J-> -4 J / I LORRAINE M. WOOD, City Clerk KAREN R. KUNDTZ, Assistant City Clerk EXEIIBIT 2 0, z, I: bz Ia I 8% s” z* a: K- iI! it -I A IS, % 22 F&O sg 0 8 ZZ88 Q g ’ 0000000 ’ 0 ’ k 9 9 LD. 0000000 gggg 88 o- o- om o- o- o- o- ’ _ _ _ _ * ’ ’ * OS o- ’ ’ ’ 1 @ ’ ’ s ~g~~~~ *ov)om-0 ~~~z~q:: =pwJ s:R RI ti ti v- WW OW 1 ii> 2; 22 au 0 -g$$$?ge$$$$ 000000000 000000000 ddddddddd 000000000 Y-v---r-F ,z EbW 3, z % 2k +g++gtge+ g$gz$Ez; $ z F$O $5 N~NNPO~~~ so E s 88888 8 P 0 om o- o- OS o- ’ ’ ’ OS ZWF s:ggs3g: 0 22s In w o- aI- Nm G 4b-P P)NN ; SD0 3 “ci s 1 “5 8 W 88 ’ o- ’ 1s ‘OF 1 zks UC d oi ziz3 5: - ~~ 2%; d ,z if % i A! p gi i ! 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