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C
ity of Merced
Community Facilities District No. 2003-2
(Services)
Senate Bill 165 Reporting Requirements for
Fiscal Year 2022-23
Jan
uary 29, 2024
Community Facilities District No. 2003-2
Senate Bill 165 Reporting Requirements
Fiscal Year 2022-23
TABLE OF CONTENTS
Section Page
I. Introduction ...........................................................................................................................1
II. Senate Bill 165 Reporting Requirements ..............................................................................2
Appendix A: CFD No. 2003-2 Balance Sheet as of June 30, 2023 City of Merced Community Facilities District No. 2003-2 (Services) Senate Bill 165 Reporting Requirements Page 1
I. INTRODUCTION
City of Merced Community Facilities District No. 2003-2 (Services)
The City of Merced Community Facilities District No. 2003- 2 (the “CFD” or “CFD No. 2003- 2”) is located in the City of Merced (the “City”), in Merced County, in the State of California, approximately 132 miles south of Sacramento. On January 5, 2004, the City passed Resolution No. 2004-3, forming CFD No. 2003- 2. A successful landowner election was then held, authorizing the levy of the special tax. T he special tax funds general services authorized under the Mello-Roos Act which include, but are not limited to:
1) Public safety services, including police and fire protection. 2) Landscaping, sidewalk, park, and parkway maintenance (including lighting). 3) Flood control services.
4) Miscellaneous administrative fees and expenses.
CFD No. 2003-2 currently is made up of 47 distinct improvement areas throughout the City. As additional new areas within the City apply for development approval , those development areas will annex to CFD No. 2003-2.
The Mello-Roos Community Facilities Act of 1982
The California State Legislature approved the Mello -Roos Community Facilities Act of 1982 that provides for the levy of a special tax within a defined geographic area, namely a community facilities district, if such a levy is approved by two -thirds of the qualified electors i n the area.
Community facilities districts can generate funding for a broad range of facilities and eligible services. These services include police protection services, fire p rotection and suppression services, library se rvices, recreation program serv ices, maintenance of roads, parks, parkways and open space, and flood and storm protection services. Special taxes can be allocated to property in any reasonable manner other than on an ad valorem basis.
City of Merced Community Facilities District No. 2003-2 (Services) Senate Bill 165 Reporting Requirements Page 2
II. SENATE BILL 165 REPORTING REQUIREMENTS
On September 18, 2000, former Governor Gray Davis approved Senate Bill 165 which enacted the “Local Agency Special Tax and Bond Accountability Act”. In approving the bill, the Legislature declared that local agencies need to demo nstrate to the voters that spec ial taxes and bond proceeds are being spent on the facilities and services for which they were intended. To further this objective, the Legislature added Section 50075.3 to the California Government Code setting forth annual reporting requirements relativ e to special taxes collected by a local public agency. The amount of special taxes collected and e xpended for the fiscal year 2022- 23 special tax levy is set forth in the table on the following page:
City of Merced Community Facilities District No. 2003-2 (Services) Senate Bill 165 Reporting Requirements Page 3
Fiscal Year 2022-23 Revenues*
Intergovernmental $2,163
Charges for Services $5,833,802
Investment Earnings ($4,499)
Miscellaneous $129,919
Total Revenues Collected $5,961,385
Fiscal Year 2022-23 Expenditures*
General Government $43,923
Public Safety $2,849,160
Public Works $1,135,753
Parks $3,837
Capital Outlay $95,841
Total Expenditures $4,128,514
Revenue Over (Under) Expenditures $1,832,871
Other Financing Sources (Uses)*
Transfer In $415,920
Transfer Out ($924,524)
Total Other Financing Sources (Uses) ($508,604)
Beginning Fund Balance $4,895,552
Ending Fund Balance $6,219,819
Net Change in Fund Balance $1,324,267
* Note: This is unaudited financial information.
APPENDIX A
CFD No. 2003-2 Balance Sheet
as of June 30, 2023
City of Merced
Balance Sheet
June 30, 2023
CFD Services
ASSETS
Cash, cash equivalents and investments 6,537,228
Receivables:
Interest Recievable 17,078
Accounts Receivable 2,768
Due from other governments 99,686
Total assets 6,656,760
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable 72,681
Other payables 32,591
Advance from other funds 331,669
Total liabilities 436,941
Fund Balance 6,219,819
Total liabilities and fund balance 6,656,760
* Note: This is unaudited financial information.