Title
Adopt a Resolution to:
a. Approve a report on the status of development traffic impact fees for fiscal year ending June 30, 2017; and
b. Adopt findings for retaining uncommitted funds in accordance with Government Code Section 66000 et. seq.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a Resolution to:
a. Approve a report on the status of development traffic impact fees for fiscal year ending June 30, 2017; and
b. Adopt findings for retaining uncommitted funds in accordance with Government Code Section 66000 et. seq.
SUMMARY/ DISCUSSION:
Government Code Section 66000 et.seq. (AB1600) delineates certain accounting and reporting requirements with respect to development impact fees collected by the County of Monterey (County). The fees, for accounting purposes, must be segregated from the general funds of the County and from other funds or accounts containing fees collected for other improvements. Interest on each development fee fund must be credited to that fund or account and used only for the purposes for which the fees were collected. The agency that collected the fees must make available to the public the following information regarding each fund or account:
1. Brief description of the type of fee in the fund;
2. Amount of the fee;
3. Beginning and ending balance for the fiscal year;
4. Amount of fees collected and interest earned;
5. Identification of each public improvement on which fees were expended and the amount of the expenditure on each improvement, including the total percentage of the cost of the public improvement that was funded with fees;
6. Identification of an approximate date by which the construction of a public improvement will commence, if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement fund;
7. Description of each inter-fund transfer or loan made from the account or fund, including the public improvement on which ...
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