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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 2 3 4 5 6 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, 9 10 11 12 13 14 Fiscal Year 2013-14 Capital Improvement Program on file with the City Clerk; and 15 16 17 18 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 22 23 24 25 25 b. That a reasonable relationship has been demonstrated between the 27 developer fee and the purpose for which it is charged 28 50075 and 66006: a. That the purpose to which the developer fee and special taxes are to be put has been identified. U 1 2 3 4 5 6 7 8 9 // 10 // 11 // 12 13 // 14 // 15 // 16 // 17 // 18 19 // 20 // 21 // 22 // 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 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. 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 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) ^\\^^Ml,, Exhibit 2 o Q. o 111 CO Q 2 o E _ O tM Z > o" O O " p O Ul ili -I ^ s < » a: o o, < a. < m 111 Ul u. CO Ul < u. o _i m a. 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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. 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H o UJ o z o OL (D z CO m CO z UJ O CD ^ Ul > _ z < < D: CO 0 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