CITY OF LATHROP
STONEBRIDGE MAINTENANCE DISTRICT
ANNUAL ASSESSMENTS
June 12, 2023
Item No. 5.3
OVERVIEW
1. Maintenance Districts
• Fiscal Assessment (by district)
2. Conduct Public Hearing
• Approve Fiscal Year 2023/24 Assessment of Stonebridge Maintenance Districts 2 FISCAL ASSESSMENT – BY DISTRICT
Stonebridge Landscape
• Established in 1999 to support the maintenance, operations, and services of the Stonebridge Landscaping District.
• Rate unchanged between Fiscal Year 2014/15 through 2018/19 to provide relief to homeowners due to the Great Recession. • 5% annual escalator (Proposed assessment of $426.05 – max assessment is $507.95)
3 Stonebridge Landscape
Beginning Fund Balance: $ 39,165
Assessment Revenues 383,871
Assessment Expenses (361,339)
General Benefit Contribution (GF) 5,400
Park Rentals 1,500
Ending Fund Balance: $ 68,597
Major Expense Categories:
Maintenance & Repairs
Landscaping Contracted Services
Water & Electric Charges
For FY 22/23, General Fund contribution of $5,400 is needed.
FISCAL ASSESSMENT – BY DISTRICT
Stonebridge Drainage and Lighting District
• Established in 1999 to support the maintenance,
operations, and services of the Stonebridge Drainage
and Lighting Improvements.
• Rate unchanged between Fiscal Year 2014/15 through
2018/19 to provide relief to homeowners due to the
Great Recession.
• 5% annual escalator (Proposed assessment of $315.25
– max assessment is $507.95).
4 Stonebridge Drainage and Lighting Revenues
Beginning Fund Balance: $ 267,910
Assessment Revenues 284,040
Assessment Expenses (308,328)
General Benefit Contribution (GF) 5,400
Ending Fund Balance: $ 249,022
For FY 23/24, General Fund contribution of $5,400 is needed.
NEXT STEPS
City Council’s Action:
• Hold a Public Hearing;
• Approve Fiscal Year 2023/24 Assessment of Stonebridge Maintenance District 5 District
FY 22/23
Actual Rates
FY 23/24
Proposed Rates Change Notes
Stonebridge Landscape $ 370.48 $ 426.05 $ 55.57 Max assessment $507.95 Stonebridge Drainage & Lighting $ 300.24 $ 315.25 $ 15.01 Max assessment $507.95