City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: DECEMBER 6, 2022 FROM: FINANCE DEPARTMENT WARDS: ALL
SUBJECT: regional parks and reserve parks development IMPACT fee ACTIVITY STATUS REPORT ISSUE:
Status report on development impact fee activity for regional and reserve parks.
RECOMMENDATION:
That the City Council receive and file the status report on development impact fee activity for regional and reserve parks.
BACKGROUND:
Resolution No. 21308, adopted by the City Council on January 9, 2007, established a revised schedule of development impact fees for regional parks and reserve parks, as authorized by Section 16.44 of the Riverside Municipal Code (RMC). RMC Section 16.44 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 regional park and reserve park 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. A schedule listing the detailed expenditures during Fiscal Year 2021/22 is attached.
STRATEGIC PLAN ALIGNMENT:
This item contributes to Strategic Priority 1 – Arts, Culture and Recreation and Goal No. 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
Attachment: Regional Park and Reserve Park Development Impact Fees – Expenditure Detail for FY 2021/22 Regional and Reserve Parks Annual Report Page 2