HomeMy WebLinkAbout2023-12-12; City Council; ; Annual Financial Information Report on Capital Project Funds and Special TaxesCA/GC Review JRT
Meeting Date Dec. 12, 2023
To: Mayor and City Council/President and Board of Directors
From: Scott Chadwick, City Manager/Executive Manager Staff Contact: Kim Riboni, Senior Accountant
kim.riboni@carlsbadca.gov, 442-339-5737
Subject: Annual Financial Information Report on Capital Project Funds and Special
Taxes
Districts: All
Recommended Actions
1. Adopt a resolution of the City Council of the City of Carlsbad accepting the Annual
Financial Information Report on Capital Project Funds and Special Taxes.
2. Adopt a resolution of the Board of Directors of the Carlsbad Municipal Water District
accepting the Annual Financial Information Report on Capital Project Funds and Special
Taxes.
Executive Summary
Local agencies such as the City of Carlsbad and the Carlsbad Municipal Water District (CMWD)
are required to report the status of certain fees and special taxes each year under California
Government Code Sections 50075.3, 66001 and 66006. Sections 66001 and 66006 further
require the governing body of the local agency to periodically make certain findings regarding
any fee established, increased or imposed after Jan. 1, 1989.
The required findings for the city and CMWD are included in the resolutions in Exhibit 1, for the
City Council; and Exhibit 2, for the CMWD Board, and the reports are included as Attachment A
to the resolutions.
Explanation & Analysis
The disclosure requirements set forth in California Government Code Article 3.5 - Voter-
Approved Special Taxes, sections 50075 – 50077.5, are intended to gain voters’ confidence and
support of special taxes by demonstrating that local agencies will spend any special tax funds
on the facilities and services for which they were intended. To accomplish this goal, Section
50075.1 requires that any local special tax subject to voter approval:
• Contain a statement indicating the specific purposes of the special tax
• Have a requirement that the proceeds of the special tax be applied to those purposes
• Use a separate account into which the proceeds shall be deposited
• Have an annual report containing information regarding the use of proceeds
Dec. 12, 2023 Item #1 Page 1 of 22
JOINT CI TY c,ouNCIL AND
CARLSBAID ,MUNICI PAl WATER DISTRI CT
Staff Report
The first three requirements of Section 50075.1 are met through the formation of a special tax
district. The fourth is satisfied annually under Section 50075.3, which requires the chief fiscal
officer of the local agency to file a report with its governing body that contains:
• The amount of funds collected and expended
• The status of any project required or authorized to be funded
The report required by Section 50075.3 is provided as Attachment A to the resolution in Exhibit
1.
Government Code Section 66006 requires a local agency to also annually report certain
financial information related to any capital funds that were established to track fees charged in
connection with the approval of a development project. The report is required to include:
• 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 interest earned
• The identification and amount of each public improvement on which fees were
expended
• The total percentage of the project funded by the fee
• The approximate date by which the construction of the public improvement will begin
• A description of each interfund transfer or loan, including the project to be funded with
the loan, the approximate date of repayment and rate of interest
• Any refunds made to developers in accordance with the code
Additionally, under Section 66006, the local agency is required to make the report available to
the public at least 15 days before a scheduled public meeting. The report was made available
on the city website on the Finance Department’s Financial Reports page on Nov. 24, 2023.1
The reports in Attachment A to Exhibits 1 and 2 also provide all the information required by
Section 66006 for development fees that fall under this disclosure requirement.
Certain ending fund balances exclude advances and loans, which may result in a fund balance
that is lower than the appropriated balance. The loans and advances may be paid through
future collections of fees.
The reported fund balances could be subject to refunds, though there are no refunds due at
this time of this report. Funds being reviewed for eligible refunds include the city’s Bridge and
Thoroughfare District No. 2 and Bridge and Thoroughfare District No. 3. City staff plan to return
to the City Council in early 2024 with a recommendation to close out these districts since the
improvement projects they were established to fund have been completed.
More information on these funds, and all other capital funds, are available in the fiscal year
2023-24 Capital Improvement Program and will be included in the fiscal year 2022-23 Annual
Comprehensive Financial Report, which staff expects to issue before the end of the calendar
year.
1 This report was posted at carlsbadca.gov/departments/finance/financial-reports, under the Development Impact
Fee Annual Report heading.
Dec. 12, 2023 Item #1 Page 2 of 22
In addition to the required annual reporting under Section 66006, Section 66001 requires a
local agency to make the following findings every five years with respect to the portion of the
fund remaining unexpended, whether committed or uncommitted, for the development fee
funds:
• Identification of the purpose for which the fee is to be put
• Demonstration of a reasonable relationship between the fee and the purpose for which
it is charged
• Identification of all sources and amounts of funding anticipated to complete financing
on incomplete improvements
• The approximate dates on which the funding referred to above is expected to be
deposited into the appropriate account or fund
When findings are required by this section, the local agency is also required to provide the
information to the public, in accordance with Section 66006. The information to support the
required findings can be found in the fiscal year 2023-24 Capital Improvement Program
provided as Exhibit 3. The resolutions in Exhibits 1 and 2 include the required findings, and if
they are adopted, the city and the Carlsbad Municipal Water District will have complied with
Section 66001.
The reports in Attachment A to Exhibits 1 and 2, including the information required by the
above code sections, were compiled from data derived from audited financial records. These
audited figures will also be available in the fiscal year 2022-23 Annual Comprehensive Financial
Report, which is likely to be issued before the end of the calendar year.
Fiscal Analysis
This item has no fiscal impact.
Next Steps
Staff will file the approved Annual Financial Information Report on Capital Project Funds and
Special Taxes for fiscal year ended June 30, 2023, in accordance with state law.
Environmental Evaluation
This action does not require environmental review because it does not constitute a project
within the meaning of the California Environmental Quality Act under California Public
Resources Code Section 21065 in that it has no potential to cause either a direct physical
change or a reasonably foreseeable indirect physical change in the environment.
Exhibits
1. City Council resolution
2. Carlsbad Municipal Water District Board of Directors resolution
3. 2022-23 Capital Improvement Program (on file in the Office of the City Clerk)
Dec. 12, 2023 Item #1 Page 3 of 22
RESOLUTION NO. 2023-283
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, ACCEPTING THE ANNUAL FINANCIAL INFORMATION
REPORT ON CAPITAL PROJECT FUNDS AND SPECIAL TAXES
WHEREAS, the City Council of 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 50075.3; and
WHEREAS, the City Council of the City of Carlsbad, California is required to make certain
findings every five years with respect to the unexpended fund balance of certain development
fee funds pursuant to California Government Code Section 66001; and
WHEREAS, the City of Carlsbad is required to annually report certain financial
information related to capital funds established to track fees charged in connection with the
approval of development projects pursuant to California Government Code Section 66006; and
WHEREAS, the information to make the required findings can be found in the fiscal year
2023-24 Capital Improvement Program as adopted by the City Council on June 13, 2023.
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 annual Financial Information Report on Capital Project Funds and Special
Taxes (Attachment A) is accepted.
3.That for each developer fee identified in Attachment A these findings are made
as required under California Government Code Sections 66001:
a.That the purposes to which the developer fee is to be put
have been identified.
b.That a reasonable relationship has been demonstrated between the developer
fee and the purpose for which it is charged.
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.
Exhibit 1
Dec. 12, 2023 Item #1 Page 4 of 22
4.That these findings are based on information contained in the fiscal year 2023-24
Capital Improvement Program, which is incorporated by reference.
5.That the report in Attachment A was compiled from data derived from audited
financial records.
6.That the audited figures will also be available in the fiscal year 2022-23 Annual
Comprehensive Financial Report, which is likely to be issued before the end of the
calendar year.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 12th day of December, 2023, by the following vote, to wit:
AYES:
NAYS:
ABSTAIN:
ABSENT:
Blackburn, Bhat-Patel, Acosta, Burkholder, Luna.
None.
None.
None. \ KEITH �LACKBURN, Mayor
SHERRY FREISINGER, City Clerk (SEAL)
Dec. 12, 2023 Item #1 Page 5 of 22
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Dec. 12, 2023 Item #1 Page 18 of 22
._________. I
RESOLUTION NO. 1721
A RESOLUTION OF THE BOARD OF DIRECTORS OF CARLSBAD MUNICIPAL
WATER DISTRICT OF THE CITY OF CARLSBAD, CALIFORNIA, ACCEPTING
THE ANNUAL FINANCIAL INFORMATION REPORT ON CAPITAL PROJECT
FUNDS
WHEREAS, the Board of Directors is required to make certain findings every five years
with respect to the unexpended fund balance of certain development fee funds pursuant to
California Government Code Section 66001; and
WHEREAS, the Carlsbad Municipal Water District is required to annually report certain
financial information related to capital funds established to track fees charged in connection
with the approval of development projects pursuant to California Government Code Section
66006;and
WHEREAS, the information to make the required findings can be found in the fiscal year
2023-24 Capital Improvement Program as adopted by the Board of Directors on June 13, 2023.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad Municipal Water
District of the City of Carlsbad, California, as follows:
1.That the above recitations are true and correct.
2.That the annual Financial Information Report on Capital Project Funds and Special
Taxes (Attachment A) is accepted.
3.That for each developer fee identified in Attachment A these findings are made
as required under California Government Code Sections 66001:
a.That the purposes to which the developer fee is to be put
have been identified.
b.That a reasonable relationship has been demonstrated between the developer
fee and the purpose for which it is charged.
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.
4.That these findings are based on information contained in the fiscal year 2023-24
Capital Improvement Program, which is incorporated by reference.
Exhibit 2
Dec. 12, 2023 Item #1 Page 19 of 22
5.That the report in Attachment A was compiled from data derived from audited
financial records.
6.That the audited figures will also be available in the fiscal year 2022-23 Annual
Comprehensive Financial Report, which is likely to be issued before the end of the
calendar year.
PASSED, APPROVED AND ADOPTED at a Special Meeting of the Board of Directors of the
Carlsbad Municipal Water District of the City of Carlsbad on the 12th day of December, 2023, by the
following vote, to wit:
AYES:
NAYS:
ABSTAIN:
ABSENT:
Blackburn, Bhat-Patel, Acosta, Burkholder, Luna.
None.
None.
None.
KEITH BLACKBURN, President
Dec. 12, 2023 Item #1 Page 20 of 22
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Dec. 12, 2023 Item #1 Page 21 of 22
Exhibit 3
2023-24 Capital Improvement Program
(on file in the Office of the City Clerk)
Dec. 12, 2023 Item #1 Page 22 of 22