Attachment E
I. Findings:
development within the City of Orange. The relationship between the fee and the purpose for which it is charged is described than the revenues collected in the prior five years less the projected expenditures of future projects. Fund 573 Library Facilities Fees is in compliance and no refunds need to be made. All documents and amendments incorporated herein by reference are on file with the City Clerk's Office. The purpose of this fee is described in Orange Municipal Code Section 3.50.010.
II. Library Facilities Fee Schedule:
Library Facilities Fees
Fees:
Residential $1,280/unit
Commercial $0.077/sq. ft.
Fund 573
City of Orange
Annual Report for Library Facilities Development Fees
For The Year Ended June 30, 2023
incomplete improvements and designates approximate dates on which the funding is expected to be deposited into the fund.
Per the California Government Code Section 66001 (d), the City is required to refund the unexpended revenues that are more The fee provides for new library facilities and other capital acquisition costs required, incrementally, by new residential Improvement Plan adopted in June 2023 identifies all sources and amounts of funding anticipated to complete financing of in the "City of Orange Library Impact Fee Study", dated April 2, 2003, prepared by Maximus, Inc. The City's 5-year Capital Attachment E
III. Summary of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual FY 2022-23 FY 2022-23
Fund 573 Fund 573
Library Library
Budget Actual
Revenues and Transfers In
Interest on Investments 2,450 10,590
Library Impact Fees 69,839 36,156
Admin Fee 1,711 886
Total Revenues 74,000 47,632
Expenditures and Transfers Out
20347 Enterprise Access System (6/2024) 45,000 -
20405 Homework Center Refresh (completed) - (172)
20461 Main Library Improvements (ongoing) 257,785 257,060 20462 Taft Library Improvements (ongoing) 156,327 156,793 20463 El Modena Library Improvements (ongoing) 155,410 155,410 30056 HVAC Replacement - Library (3/2024) 283,835 4,072 Total Expenditures 898,357 573,163
Net Increase(Decrease) (525,532)
Beginning Fund Balance 923,753
Ending Fund Balance 398,222
Projected future projects:
Estimated Expenditures
20347 Enterprise Access System (6/2024) 45,000
20461 Main Library Facility Improvement (ongoing) 725
30056 HVAC Replacement - Library (3/2024) 279,763
Total Estimated Expenditures 325,488
In Fiscal Year 2023, the City entered into a 55 year loan with Valencia Gardens for $762,500, a portion of which is in Fund 573 (Library Facility Fees). Revenue for the loan will be recognized when the City receives payment from Valencia Gardens.