HomeMy WebLinkAbout2024-01-31; Agricultural Conversion Mitigation Fee Committee Ad Hoc; ; Fiscal ReportMeeting Date: Jan. 31, 2024
To: Agricultural Conversion Mitigation Fee Citizens Advisory Committee
From: Nicole Piano-Jones, Senior Program Manager
Staff Contact: Nicole Piano-Jones, Senior Program Manager
nicole.pianojones@carlsbadca.gov, 442-339-2191
Subject: Fiscal Report
District: All
Recommended Action
Receive report on available fund balance.
Executive Summary
This report provides an update on the current balance, including prior obligations and accrued
interest.
Explanation & Analysis
As of Dec. 31, 2023, the Agricultural Conversion Mitigation Fee has a cash balance of
$1,139,789, of which $320,874 is currently encumbered to projects (listed in Agenda Item #1)
and $605,594 has been approved for prior year projects (described in Agenda Item #2). This
amount is inclusive of all interest accrued since beginning of the fiscal year. If balances are
recommitted as described in Agenda Item #2 the resulting net available cash balance is
anticipated to be $139,856. Net available cash (up to $162,875) is reserved for future phases of
the Regional Beach Sand Project III. Depending on the committee action for Agenda Item #2,
the Committee may recommend, if so desired, that the City Council direct staff to solicit
additional grant proposals to commit the remaining fund balance.
Fiscal Analysis
There is no direct fiscal impact associated with receiving this information report. The
Committee may request that the City Council direct staff to solicit additional grant proposals. In
this instance, any fiscal impacts would be reflected in future agenda reports.
Environmental Evaluation
Pursuant to Public Resources Code Section 21065, this action does not constitute a “project”
within the meaning of the California Environmental Quality Act (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.
AGRICULTURAL CONVERSION MITIGATION FEE CITIZENS
ADVISORY COMMITTEE
Jan. 31, 2024 Item #3
Page 1 of 2
ACMF FUND BALANCE
ITEM 3: FISCAL UPDATE
•$160,997* as of Dec. 31, 2023
*** Correction from posted Agenda Report ***
•Up to $162,875 reserved for future
phases of Regional Beach Sand Project III
1Jan. 31, 2024 Item #3
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