Cathedral City Page 1 of 2 Printed on 11/23/2022
Staff Report
City Council
Item No. 3.J
Meeting Date: November 30, 2022
From: Kevin Biersack, Accounting Services Manager
Title: California SB 165, Government Code (GC) 50075.1 Fiscal Year (FY) 2021/2022 Report for CFD 2006-1
City Council
RECOMMENDATION:
Receive and File the Annual FY 2021/2022 California Senate Bill (SB) 165, Government Code (GC) Section 50075 Community Facilities District (CFD) 2006 -1 Revenues and Expenditures Report
BACKGROUND:
Senate Bill (SB) 165, California Government Co de (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 Pl ace (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 enforc ement, 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.
Cathedral City Page 2 of 2 Printed on 11/23/2022
ATTACHMENTS:
SB 165 GC 50075 annual report_2122 02