BACKGROUND:
Senate Bill (SB) 165, California Government Code (GC) 50075.1, requires the Chief Fiscal Officer of the local agency to file an annual report with its governing body for any local special levy (measure) subject to voter approval on or after January 1, 2001.
DISCUSSION:
Since the Community Facilities District (CFD) 2006-1 was created, there have been seventeen (17) Improvement Areas (“IA”) approved for various new development projects throughout the City of Cathedral City. As required, the City has established a separate revenue account for each IA. As of FY 2021/2022, eight of the IA received revenue for the purposes of supporting general fund services to the community, including Desert Princess (IA #2), River Canyon (IA #4), Lantana at Cimarron (IA #5), Northgate Community Church (IA #6), Stanton Place (IA #7), The District (IA #8), The District East (IA #11), and Newport Five (IA #14).
FISCAL IMPACT:
As reported in the annual budget review and adopted in the two-year biennial budget, CFD proceeds become revenues for the General Fund for law enforcement, fire, paramedic, park and general maintenance services provided (expensed). For FYE 2021/2022, total proceeds from the CFD for the General Fund were $223,005.