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CITY OF SAN LEANDRO <br />Development Fees for Street Improvements <br />Accounting Report <br />1998-99 Fiscal Year <br />STREET/TRAFFIC IMPROVEMENTS FUND <br />Financial Summ <br />Development Fees for Street Improvements are deposited in the Street/Traffic Improvements Fund. <br />This 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 <br />growth. Section 66006 of the State Government Code requires annual accounting for all development <br />fees within 180 days of the close of the fiscal year. <br />Pursuant to State Law, a summary of the City's actual 1998-99 beginning and ending fund <br />balance, collection of all fees, refunds, interest earning, other income and expenditures is shown <br />below: <br />Revenue: <br />Development Fees <br />$ 654,321 <br />Refunds <br />- <br />Interest Income <br />50,905 <br />Other Income <br />- <br />Grants <br />276,438 <br />Total Revenue <br />981,664 <br />Expenditures: <br />Street/Traffic Projects <br />842,262 <br />Excess of Revenues over Expenditures <br />139,402 <br />Fund Balance, July 1, 1998 992,047 <br />Fund Balance, June 30, 1999 $ 1,131,449 <br />