HomeMy WebLinkAbout2014-12-09; City Council; 21797; Annual Financial Report Capital Project Funds, Special Taxes, Code Sections 50075 66001 66006CITY OF CARLSBAD - AGENDA BILL
AB#
MTG.
DEPT.
21.797
12/09/14
ASD/FIN
ANNUAL FINANCIAL REPORT ON CAPITAL
PROJECT FUNDS AND SPECIAL TAXES
PURSUANT TO GOVERNMENT CODE
SECTIONS 50075, 66001 AND 66006
DEPT.DIRECTDR
CITY ATTY.
CITY MGR.
RECOMMENDED ACTION:
Adopt Resolution No. 2014-273 accepting the annual financial report on Capital Project
Funds and Special Taxes pursuant to California Government Code Sections 50075, 66001 and 66006.
ITEM EXPLANATION:
California Govemnnent Code requires the city to annually report the status of certain fees and special
taxes. IVIore specifically, the city must annually make findings regarding any local special tax measure
and any fee established, increased, or imposed after January 1,1989.
Government Code Sections 50075.1 & 50075.3:
California Government Code Sections 50075 - 50077.5, inclusive, were enacted to earn the voter's
confidence and support of special taxes by demonstrating to the voters that local agencies spend these
funds on the intended facilities and services. To accomplish this goal, California Government Code
Section 50075.1 requires that any local special tax/local bond measure subject to voter approval:
1. contain a statement indicating the specific purposes of the special tax,
2. have a requirement that the proceeds ofthe special tax be applied to those purposes,
3. utilize a separate account into which the proceeds shall be deposited, and
4. have an annual report containing information regarding the use of proceeds.
The first three requirements of Government Code Section 50075.1 are met through the formation ofthe
Special Tax District. Requirement four is satisfied annually via Government Code Section 50075.3.
Government Code Section 50075.3 requires "the chief fiscal officer of the local agency to file a report
with its governing body no later than January 1, 2002, and at least once a year thereafter," which
contains the foilowing information:
1. the amount of funds collected and expended, and
2. the status of any project required or authorized to be funded as identified in subdivision (a) of
Section 50075.1.
The cit/s Community Facilities District No. 1 and Community Facilities District No. 3 (Improvement
Area 1 and Improvement Area 2) are included under this code section because they are local special
tax measures subject to voter approval. The information to make the findings can be found in the
DEPARTMENT CONTACT: Roxanne Muhlmeister 760-602-2417 roxanne.muhlmeister@carlsbadca.gov
FOR CLERK USE.
COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC •
DENIED • CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDRAWN • OTHER - SEE MINUTES •
AMENDED • REPORT RECEIVED •
Financial Report on Special Taxes
12/9/14
Page 2 of 3
Fiscal Year 2014-15 Capital Improvement Program 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 Sections 50075 - 50077.5, inclusive. The attached resolution makes these findings in
accordance with Code Section 50075.1. Since these findings have been made, and the city is in
compliance with the Code, no action is required.
Government Code Sections 66001 & 66006:
California Government Code Section 66006 requires local agencies to annually report certain financial
information related to capital funds established to track fees charged in connection with the approval
ofa development project. The information required bythe Government Code includes:
1. a description ofthe fee,
2. the amount of the fee,
3. the beginning and ending balance of the fund,
4. the amount of the fees collected and the interest earned,
5. an identification and amount of each public improvement on which fees were expended,
6. the total percentage of the project funded by that fee,
7. the approximate date by which the construction of the public improvement will commence,
8. a description of each inter-fund transfer or loan, including the project to be funded with the
loan, the approximate date of repayment, and rate of interest, and
9. 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 that fall under this disclosure requirement. In some instances, the ending fund balance amount is
less than the remaining appropriation because outstanding advances and loans are not included in the
fund balance. Cash balances are sufficient for the remaining appropriations. No refunds have been
made nor are any required. More information on these funds, and all other capital funds, is available
in the Fiscal Year 2014-15 Capital Improvement Program that was adopted by City Council in June 2014
and in the Fiscal Year 2013-14 Comprehensive Annual Financial Report that will be available in
December 2014.
In addition to the required annual reporting under Code Section 66006, 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 of all sources and amounts of funding anticipated to complete financing on
incomplete improvements, and
Financial Report on Special Taxes
12/9/14
Page 3 of 3
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 requirements can be found in the Fiscal Year 2014-
15 Capital Improvement Program 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.
This report, including all the above code sections, was compiled with the audited city financial records.
These audited figures are also available in the city's Fiscal Year 2013-14 Comprehensive Annual
Financial Report that will be available in December 2014.
FISCAL IMPACT:
There is no fiscal impact in making these findings pursuant to California Government Code Sections
50075 and 66001.
ENVIRONMENTAL IMPACT:
Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the
meaning of CEQA in that it has no potential to cause either a direct physical change in the environment,
or a reasonably foreseeable indirect physical change in the environment, and therefore does not require
environmental review.
EXHIBITS:
1. Resolution No. 2014-273 making certain findings pursuant to California Government
Code Sections 50075 and 66001.
2. Financial Information Report, Capital Funds and Special Taxes subject to Government Code
Sections 50075 and 66006.
3. The 2014-15 Capital Improvement Program on file with the City Clerk.
3
Exhibit 1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, ACCEPTING THE ANNUAL FINANCIAL REPORT ON CAPITAL
FUNDS AND SPECIAL TAXES PURSUANT TO CALIFORNIA GOVERNMENT
CODE SECTIONS 50075, 66001 AND 66006
WHEREAS, the City of Carlsbad is required to make certain findings every five years
1 RESOLUTION NO. 2014-273
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y with respect to the unexpended fund balance of certain development fee funds pursuant
8 to California Government Code Section 66001; and
WHEREAS, the City of Carlsbad is required to make certain findings annually with
respect to special taxes collected and expended pursuant to California Government Code
Section 50075; and
WHEREAS, the information to make the required findings can be found in the
WHEREAS, these findings need to be made in conjunction with the public
information required by Code Sections 50075 and 66006.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
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14 Fiscal Year 2013-14 Capital Improvement Program on file with the City Clerk; and
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19 California, as follows that
20 1. The above recitations are true and correct
2. That the following findings are made as required under Government Code Sections
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25 b. That a reasonable relationship has been demonstrated between the
27 developer fee and the purpose for which it is charged
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50075 and 66006:
a. That the purpose to which the developer fee and special taxes are to be
put has been identified.
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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 have been designated.
3. That these findings are based on information provided in the City of Carlsbad's
Fiscal Year 2014-15 Operating Budget and Capital Improvement Program, which is
incorporated herein by reference.
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PASSED, APPROVED AND ADOPTED at a Regular Meeting ofthe City Council ofthe City
of Carlsbad on the 9*" day of December, 2014, by the following vote to wit:
AYES:
NOES:
Council Members Hall, Packard, Wood, Schumacher, Blackburn.
None.
ABSENT: None.
MATT HALL, Mayor
ATTEST:
BARBARA ENG|^SQN, City Clerk
(SEAL)
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FINANCIAL INFORMATION REPORT
CAPITAL FUNDS SUBJECT TO GOV. CODE SEC. 50075
YEAR ENDED JUNE 30, 2014
COMMUNITY FACILITIES DISTRICT #3 IMPROVEMENT AREA 1(1)
Date of
Issuance
Initial Amount Deposited
To Improvement Fund
Balance at
06/30/2014 (2)
Expenditures
To Date (2)
Project
Status
05/11/2006 $ 9,989,741 $ 1,521,244 $ 12,231,780 In Progress
(1) Pursuant to Government code section 50075 the following items are required to be disclosed:
(a) The amount of funds collected and expended.
(b) The status of any project required or authorized to be funded as identified in subdivision (a) of
Section 50075.1 or Section 53410.
(2) Federal grant money, fair share contributions, and interest earnings account for the difference
between the balance at 6/30/14 plus expenditures to date and the initial amount deposited.
FINANCIAL INFORMATION REPORT
CAPITAL FUNDS SUBJECT TO GOV. CODE SEC. 50075
YEAR ENDED JUNE 30, 2014
COMMUNITY FACILITIES DISTRICT #3 IMPROVEMENT AREA 2(1>
Date of
Issuance
Initial Amount Deposited
To Improvement Fund
Balance at
06/30/2014 (2)
Expenditures
To Date (2)
Project
Status
02/21/2008 $ 11,844,689 $ 424,885 $ 11,473,044 In Progress
(1) Pursuant to Government code section 50075 the following items are required to be disclosed:
(a) The amount of funds collected and expended.
(b) The status of any project required or authorized to be funded as identified in subdivision (a) of
Section 50075.1 or Section 53410.
(2) Interest earnings account for the difference between the balance at 6/30/14 plus expenditures
to date and the Initial amount deposited.
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CITY OF CARLSBAD
CAPITAL FUNDS
JULY 1, 2013 PROJECTED JUNE 30, 2014
UNRESERVED PROJECTED PROJECTED DEBT SERVICE PROJECTED
FUND BALANCE REVENUES EXPENDITURES LOANS & OTHER BALANCE
BTD#2 - POINSETTIA LANE/AVIARA PKWY 9,830,736 789,537 0 0 10,620,273
BTD#3 - CANNON ROAD WEST 288,489 40,349 0 0 328,838
CFD #1 - CITYWIDE 66,982,848 2,192,138 0 179,691 68,995,295
GAS TAX 16,283,016 3,376,253 1,215,839 600,000 17,843,430
GENERAL CAPITAL CONST.45,773,540 1,684,259 4,944,641 0 42,513,158
GRANTS - FEDERAL (173,488) 405,751 167,962 0 64,301
INFRASTRUCTURE REPLACEMENT 76,613,006 8,751,546 1,738,121 0 83,626,431
OTHER 3,008,013 26,997 0 0 3,035,010
PARK FEE ZONES 5,13,16 2,763,395 72,817 0 0 2,836,212
PARK-IN-LIEU NE 898,643 10,504 0 0 909,147
PARK-IN-LIEU NW 391,342 158,025 0 0 549,367
PARK-IN-LIEU SE 1,228,239 110,336 0 0 1,338,575
PARK-IN-LIEU SW 1,747,767 84,584 0 0 1,832,351
PLANNED LOCAL DRAIN'G 5,843,431 642,011 177,931 0 6,307,511
PUBLIC FACILITIES FEE 39,794,717 2,008,134 6,488,791 15,000 35,299,060
RANCHO SANTA FE ROAD PROJECT 7,859,286 1,441,669 85,013 8,595,009 620,933
SEWER CONNECTION 18,710,543 34,207,828 808,693 928,419 51,181,259
SEWER REPLACEMENT 31,157,294 3,875,264 5,814,543 0 29,218,015
TDA 9,011 666,510 672,801 0 2,720
TRAFFIC IMPACT FEE 20,068,918 2,163,692 434,566 0 21,798,044
TRANSNET/BIKE 70,604 441 0 71,045 0
TRANSNET/HIGHWAY 0 0 0 0 0
TRANSNET/LOCAL 18,832,085 3,388,837 2,369,737 0 19,851,185
TRANSNET/STP 371,198 4,337 0 0 375,535
WATER - MAJOR FACILITY 25,799,871 916,521 0 0 26,716,392
WATER - RECYCLED WATER 0 5,099,998 15,053 0 5,084,945
WATER - REPLACEMENT 57,137,198 8,919,220 4,787,270 0 61,269,148
TOTAL 451,289,702 81,037,558 29,720,961 10,389,164 492,217,135
PROJECTED FUND BALANCES FOR FY 2013-14
I-11
CITY OF CARLSBAD
CAPITAL FUNDS
JULY 1, 2014 06/30/2014 07/01/2014 2014-15 JUNE 30, 2015
PROJECTED ESTIMATED CONTINUING NEW TOTAL CIP PROJECTED
FUND BALANCE REVENUES APPROPR. APPROPR. APPROPR. BALANCE
BTD#2 - POINSETTIA LANE/AVIARA PKWY 10,620,273 16,920 388,342 0 388,342 10,248,851
BTD#3 - CANNON ROAD WEST 328,838 80,112 0 0 0 408,950
CFD #1 - CITYWIDE 68,995,295 1,263,042 13,332,013 110,000 13,442,013 56,816,323
GAS TAX 17,843,430 2,815,174 13,629,851 3,310,340 16,940,191 3,718,413
GENERAL CAPITAL CONST.42,513,158 338,455 8,507,437 6,722,963 15,230,400 27,621,213
GRANTS - FEDERAL 64,301 1,233,794 64,301 1,233,794 1,298,095 0
INFRASTRUCTURE REPLACEMENT 83,626,431 8,300,000 9,954,854 4,458,250 14,413,104 77,513,327
OTHER 3,035,010 567,000 1,612,231 567,000 2,179,231 1,422,779
PARK FEE ZONES 5,13,16 2,836,212 14,463 0 0 0 2,850,675
PARK-IN-LIEU NE 909,147 0 0 0 0 909,147
PARK-IN-LIEU NW 549,367 292,672 0 0 0 842,040
PARK-IN-LIEU SE 1,338,575 37,421 0 0 0 1,375,996
PARK-IN-LIEU SW 1,832,351 5,346 219,100 0 219,100 1,618,596
PLANNED LOCAL DRAIN'G 6,307,511 456,247 2,194,041 846,613 3,040,654 3,723,105
PUBLIC FACILITIES FEE 35,299,060 804,357 14,934,272 200,000 15,134,272 20,969,145
RANCHO SANTA FE ROAD PROJECT 620,933 0 520,931 0 520,931 100,002
SEWER CONNECTION 51,181,259 5,823,798 42,965,347 9,575,191 52,540,538 4,464,518
SEWER REPLACEMENT 29,218,015 4,550,000 15,152,263 12,787,059 27,939,322 5,828,693
TDA 2,720 0 4 0 4 2,716
TRAFFIC IMPACT FEE 21,798,044 1,138,881 13,091,809 6,486,000 19,577,809 3,359,116
TRANSNET/BIKE 0 0 0 0 0 0
TRANSNET/HIGHWAY 0 0 0 0 0 0
TRANSNET/LOCAL 19,851,185 3,328,000 9,828,214 2,966,278 12,794,492 10,384,693
TRANSNET/STP 375,535 0 345,000 0 345,000 30,535
WATER - MAJOR FACILITY 26,716,392 354,534 1,388,405 1,202,500 2,590,905 24,480,021
WATER - RECYCLED WATER 5,084,945 11,000,000 5,084,945 11,000,000 16,084,945 0
WATER - REPLACEMENT 61,269,148 6,223,000 33,650,415 8,192,500 41,842,915 25,649,233
TOTAL 492,217,135 48,643,216 186,863,775 69,658,488 256,522,263 284,338,087
PROJECTED FUND BALANCES FOR FY 2014-15
I-12
CITY OF CARLSBAD
CAPITAL FUNDS
REVENUES ACTUAL AND ESTIMATED
2010-11 2011-12 2012-13 2013-14 2014-15
ACTUAL ACTUAL ACTUAL PROJECTED ESTIMATED
FUND REVENUE REVENUE REVENUE REVENUE REVENUE
BTD#2 - POINSETTIA LANE/AVIARA PKWY 174,051 754,248 978,413 789,537 16,920
BTD#3 - CANNON ROAD WEST 63,308 1,933 121,728 40,349 80,112
CFD #1 - CITYWIDE 3,018,210 3,440,334 2,738,841 2,192,138 1,263,042
GAS TAX 2,701,571 3,246,871 2,572,724 3,376,253 2,815,174
GENERAL CAPITAL CONST. 1,151,005 2,226,470 147,721 237,259 338,455
GRANTS - FEDERAL 247,653 158,153 298,019 1,852,751 1,233,794
INFRASTRUCTURE REPLACEMENT 8,123,424 8,267,968 7,718,901 8,751,546 8,300,000
OTHER 59,834 39,633 7,265 26,997 567,000
PARK FEE ZONES 5,13,16 138,058 121,800 96,849 72,817 14,463
PARK-IN-LIEU NE 11,984 10,419 1,471 10,504 0
PARK-IN-LIEU NW 8,729 145,792 239,643 158,025 292,672
PARK-IN-LIEU SE 32,610 284,214 13,434 110,336 37,421
PARK-IN-LIEU SW 200,360 881,352 65,918 84,584 5,346
PLANNED LOCAL DRAIN'G 171,867 225,052 498,734 642,011 456,247
PUBLIC FACILITIES FEE 2,938,293 3,224,274 2,253,212 2,008,134 804,357
RANCHO SANTA FE ROAD PROJECT 143,790 57,471 2,951,512 1,441,669 0
SEWER CONNECTION 917,116 1,107,247 542,008 34,207,828 5,823,798
SEWER REPLACEMENT 3,080,381 4,022,001 4,772,543 3,875,264 4,550,000
TDA 0 208,672 0 666,510 0
TRAFFIC IMPACT FEE 1,791,212 1,719,138 1,488,403 2,163,692 1,138,881
TRANSNET/BIKE 59,157 396 122 441 0
TRANSNET/HIGHWAY 18,966 16,490 1,575 0 0
TRANSNET/LOCAL 3,711,539 1,807,535 761,273 3,388,837 3,328,000
TRANSNET/STP 4,950 4,301 608 4,337 0
WATER - MAJOR FACILITY 1,127,989 1,516,854 1,232,974 916,521 354,534
WATER - RECYCLED WATER 464,293 0 0 5,099,998 11,000,000
WATER - REPLACEMENT 5,974,696 5,992,152 5,821,417 8,919,220 6,223,000
TOTAL CAPITAL FUNDS 36,335,046 39,480,770 35,325,308 81,037,558 48,643,216
Note: Revenues include loans, advances and transfers.
I-13
CITY OF CARLSBAD
CAPITAL FUNDS
BUDGET EXPENDITURE SCHEDULE
2011-12 2012-13 2013-14 2013-14 2014-15 2014-15
ACTUAL ACTUAL ESTIMATED CONTINUING NEW TOTAL CIP
FUND EXPENSE EXPENSE EXPENSE APPROPR.APPROPR.APPROPR.
BTD#2 - POINSETTIA LANE/AVIARA PKWY 7,970 252,991 0 388,342 0 388,342
BTD#3 - CANNON ROAD WEST 0 0 0 0 0 0
CFD #1 - CITYWIDE 79,213 100,950 179,691 13,332,013 110,000 13,442,013
GAS TAX 1,550,072 1,798,131 1,815,839 13,629,851 3,310,340 16,940,191
GENERAL CAPITAL CONST.9,780,427 8,766,191 4,944,641 8,507,437 6,722,963 15,230,400
GRANTS - FEDERAL 184,643 257,085 167,962 64,301 1,233,794 1,298,095
INFRASTRUCTURE REPLACEMENT 971,791 704,485 1,738,121 9,954,854 4,458,250 14,413,104
OTHER 592 12,318 0 1,612,231 567,000 2,179,231
PARK FEE ZONES 5,13,16 0 0 0 0 0 0
PARK-IN-LIEU NE 0 0 0 0 0 0
PARK-IN-LIEU NW 67,439 0 0 0 0 0
PARK-IN-LIEU SE 0 0 0 0 0 0
PARK-IN-LIEU SW 0 0 0 219,100 0 219,100
PLANNED LOCAL DRAIN'G 369,439 251,900 177,931 2,194,041 846,613 3,040,654
PUBLIC FACILITIES FEE 176,295 11,931,075 6,503,791 14,934,272 200,000 15,134,272
RANCHO SANTA FE ROAD PROJECT 76,851 58,203 8,680,022 520,931 0 520,931
SEWER CONNECTION 4,690,166 2,384,830 1,737,112 42,965,347 9,575,191 52,540,538
SEWER REPLACEMENT 3,328,934 4,510,826 5,814,543 15,152,263 12,787,059 27,939,322
TDA 64,992 22,111 672,801 4 0 4
TRAFFIC IMPACT FEE 171,991 286,710 434,566 13,091,809 6,486,000 19,577,809
TRANSNET/BIKE 48,627 0 71,045 0 0 0
TRANSNET/HIGHWAY 0 1,417,708 0 0 0 0
TRANSNET/LOCAL 2,241,943 4,220,724 2,369,737 9,828,214 2,966,278 12,794,492
TRANSNET/STP 0 0 0 345,000 0 345,000
WATER - MAJOR FACILITY 132,128 27,323 0 1,388,405 1,202,500 2,590,905
WATER - RECYCLED WATER 729 0 15,053 5,084,945 11,000,000 16,084,945
WATER - REPLACEMENT 679,502 2,752,969 4,787,270 33,650,415 8,192,500 41,842,915
TOTAL CAPITAL FUNDS 24,623,744 39,756,530 40,110,125 186,863,775 69,658,488 256,522,263
Note: Expenditures include loans, advances and transfers.
I-14
Schedule of Capital Projects Capital Proj
Fund Summary
Fund Summary
Appendices