HomeMy WebLinkAbout09/19/1995, C-2 - ANNUAL STATEMENTS OF REVENUES AND EXPENDITURES FROM WATER AND WASTEWATER IMPACT FEES �� ��IIIII�11pni���l city of San WIS OBISPO MEETING DATE:
COUNCIL AGENDA REPORT
FROM: William C. Statler, Director of Finance '
Prepared by: Linda Asprion, Revenue Manager/
SUBJECT: ANNUAL STATEMENTS OF REVENUES AND EXPENDITURES FROM
WATER AND WASTEWATER IMPACT FEES
CAO RECOMMENDATION
Receive and file annual statements of revenues and expenditures from water and wastewater
impact fees for 1994-95.
DISCUSSION
Background
On September 3, 1991, the Council adopted Ordinance 1200 implementing water and
wastewater impact fees to be used in mitigating the impacts of future development on water
and wastewater facilities. These fees were implemented within the regulatory guidelines of AB
1600 and continue to be regulated by this legislation. One of the key requirements of AB 1600
is the following:
The local agency shall make available to the public the beginning and ending balance
for the fiscal year and the fee, interest, and other income and the amount of expenditure
by public facility and the amount of refunds made during the fiscal year. The local
agency shall review this information at the next regularly scheduled public meeting
after the availability of the information.
In order to comply with these requirements, water and wastewater impact fee statements have
been prepared .and are included as Exhibits A and B respectively.
Impact Fee Statements for Fiscal Year 1994-95
Both the water and wastewater impact fee statements show the amount of fees collected during
fiscal years 1991-92, 1992-93, 1993-94, and 1994-95. The project and debt service listed
are the obligations analyzed in the impact fee study adopted by the Council upon which the
fees are based. Since total costs were used in the analysis, prior expenditures for these
facilities are available to be funded by the impact fees along with current year expenditures.
It should be noted that only the percentage of the expenditures attributable to future
development as identified in the impact fee study for the wastewater calculation, and the Urban
Water Management Plan for the water calculation, are identified for funding from the impact
fees. As the statements indicate, both accounts have expenditures that exceed the impact fees
collected, and as such, there were no interest earnings on these accounts.
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Conclusion
To be in compliance with AB '1600, the City must make available to the public an annual
statement showing the collection of impact fees and how these fees were spent. The attached
exhibits provide the appropriate information to meet the City's responsibility.
EXIMITS
A. Water impact fee statement for fiscal year 1994-95
B. Wastewater impact fee statement for fiscal year 1994-95
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EXHIBIT A
City of San Luis Obispo
Water Impact Fee Statement for Fiscal Year 1994-95
Impact Fees Collected
Water Impact Fees collected in prior years $166,103
Water Impact Fees collected during 1994-95 $45,561
Interest on Impact Fees collected $0
Total Water Impact Fees Available $211,664
Capital Expenditures Funded by Impact Fees
Salinas Reservoir Expansion prior years $510,506
Salinas Reservoir Expansion during 1994-95 $28,047
Total Expenditures $538,553
Percentage applicable to future development* 67.5%
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Debt Service Funded by Impact Fees
1993 Water Revenue Bonds
Debt Service paid during 1993-94 $710,363
Debt Service paid during 1994-95 $756,204
Total Debt Service $1,466,567
Percentage applicable to future development* 22.5%
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Total Costs Allowable for funding by Water Impact Fees $693,501
Water Impact Fee Balance ($481,837)
* Percentage based upon the Urban Water Management Plan adopted by Council
on November 15, 1994.
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EXHIBIT B
City of San Luis Obispo
Wastewater Impact Fee Statement for Fiscal Year 1994-95
Impact Fees Collected
Wastewater Impact Fees collected in prior years $168,804
Wastewater Impact Fees collected during 1993-94 $115,115
Interest on Impact Fees collected $0
Total Wastewater Impact Fees Available $283,919
Debt Service Funded by Impact Fees
1992 State Revolving Fund Loan
Debt Service paid during 1993-94 $2,051,329
Debt Service paid during 1994-95 $2,120,642
Total Debt Service $4,171,971
Percentage applicable to future development" 8%
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Total Costs Allowable for funding by Wastewater Impact Fees $333,758
Wastewater Impact Fee Balance ($49,839)
*Percentage based upon impact fee study adopted by Council on September 3, 1991.
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