CITY OF LATHROP
STONEBRIDGE MAINTENANCE DISTRICT
ANNUAL ASSESSMENTS
June 10, 2024
Item No. 5.3
OVERVIEW
1. Maintenance Districts
• Fiscal Assessment (by district)
2. Conduct Public Hearing
• Approve Fiscal Year 2024/25 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 $489.96 – max assessment is $533.35)
3 Stonebridge Landscape
Beginning Fund Balance: $ 121,876
Assessment Revenues 441,454
Assessment Expenses (361,712)
General Benefit Contribution (GF) 5,700
Park Rentals 1,500
Ending Fund Balance: $ 208,818
Major Expense Categories:
Maintenance & Repairs
Landscaping Contracted Services
Water & Electric Charges
For FY 24/25, General Fund contribution of $5,700 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 $331.00
– max assessment is $533.35).
4 Stonebridge Drainage and Lighting Revenues
Beginning Fund Balance: $ 415,078
Assessment Revenues 298,231
Assessment Expenses (319,329)
General Benefit Contribution (GF) 5,700
Ending Fund Balance: $ 399,680
For FY 24/25, General Fund contribution of $5,700 is needed.
NEXT STEPS
City Council’s Action:
• Hold a Public Hearing;
• Approve Fiscal Year 2024/25 Assessment of Stonebridge Maintenance District 5 District
FY 23/43
Actual Rates
FY 24/25
Proposed Rates Change Notes
Stonebridge Landscape $ 426.05 $ 489.96 $ 63.91 Max assessment $533.35 Stonebridge Drainage & Lighting $ 315.25 $ 331.00 $ 15.75 Max assessment $533.35