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CITY OF SAN LEANDRO <br />Development Fees for Street Improvements <br />Accounting Report <br />2002-2003 Fiscal Year <br />Street/Traffic Improvements Fund <br />Financial Summary <br />Development Fees Street Improvements are deposited in the Street/Traffic Improvement Fund. <br />Phis separate fund is used to account for development fee assessments levied to provide partial <br />payment of street and traffic improvement costs attributable to residential and commercial growth. <br />Section 66006 of the State Government Code requires annual accounting for all development fees <br />within 180 days of the close of the fiscal year. <br />Pursuant to State Law, a summary of the City's actua12002-03 beginning and ending fund <br />balance, collection of all fees, refunds, interest earning, other income and expenditures is shown <br />below: <br />Fund Balance, July 1, 2002 $ 1,710,781 <br />Revenue: <br />Development Fees $ 566,695 <br />Refunds <br />Interest Income 53,218 <br />Other Income 47,895 <br />Grant Income 128,520 <br />Total Revenue $ 796,328 <br />Expenditures: <br />Sttreet/Traffic Projects 667,246 <br />Total Expenditures $ 667,246 <br />Excess of Revenues over Expenditures 129,082 <br />Fund Balance, July 1, 2003 <br />$ 1,839,863 <br />Fund Balance Designated/ITndesignated July 1, 2003 <br />Reserved Fund Balance -Encumbrances $ 23,677 <br />Designated Fund Balance -Committed Projects 719,515 <br />Undesignated Fund Balance, June 30, 2003 1,096,671 <br />$ 1,839,863 <br />