City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: DECEMBER 6, 2022 FROM: FINANCE DEPARTMENT WARDS: ALL
SUBJECT: TRAILS DEVELOPMENT IMPACT FEE Activity Status Report ISSUE:
Status report on development impact fee activity for trails development.
RECOMMENDATION:
That the City Council receive and file the status report on development impact fee activity for trails development.
BACKGROUND:
Resolution No. 21309, adopted by the City Council on January 9, 2007, established a development impact fee to be utilized for the acquisition and improvement of trails, as authorized by Section 16.76 of the Riverside Municipal Code (RMC). RMC Section 16.76 requires the City to provide an accounting to the general public for related receipts and expenses for which the fees were used during the fiscal year.
DISCUSSION:
The related activity for trail development impact fees for Fiscal Year 2021/22 is as follows:
The above balance reflects only actual cash receipts and expenditures. Other commitments against the funds are not reflected (i.e., encumbrances and appropriations); therefore, the balance should not be considered as available balance.
STRATEGIC PLAN ALIGNMENT:
This item contributes to Strategic Priority 1 – Arts, Culture and Recreation and Goal 1.3 – Improve parks, recreational amenities, open space, and trail development, and fulfill critical lifecycle and facility maintenance needs.
The item aligns with each of the five Cross-Cutting Threads as follows:
Community Trust – The status report on development impact fee activity for local parks enhances transparency regarding the fees and interest received and the amount of expenditures used from those revenue sources.
Equity – The report is neutral towards this cross-cutting thread.
Fiscal Responsibility – The development impact fee report provides fiscal responsibility and accountability to show funds collected are properly spent.
Innovation – The report is neutral towards this cross-cutting thread.
Sustainability & Resiliency – The report helps ensure impact fee revenues are spent in a sustainable way without compromising future needs.
FISCAL IMPACT:
There is no fiscal impact associated with the receipt of this report.
Prepared by: Nancy Garcia, Controller
Certified as to
availability of funds: Edward Enriquez, Interim Assistant City Manager/Chief Financial Officer/City Treasurer
Approved by: Edward Enriquez, Interim Assistant City Manager/Chief Financial Officer/City Treasurer
Approved as to form: Phaedra A. Norton, City Attorney
Trails Annual Report Page 2