FY2014 Recommended Budget - City of Surprise

Library Development Fee Fund
Description
The library development fee fund is established to account for the inflow of library development fees
levied on new residential construction. This fee can only be used for the purchase, construction,
financing, and furnishing of new items directly related to the increased demand on library services caused
by growth. Development fees cannot be used to subsidize operational needs.
Revenues are based upon an estimated issuance of 250 single family residential permits and the
estimated square feet of 217,800 non-single family residential permits in FY2013. On April 26, 2011
Senate Bill 1525 was signed into law and changed the method the city used to calculate development
impact fees. Arizona Revised Statutes §9-463.05.K requires municipalities planning to continue assessing
development impact fees complete an interim study effective January 1, 2012 and an updated
development impact fee study effective August 1, 2014. The city has revised fees based on the interim
study and plans on meeting the requirements of the August, 2014 deadline. The library development fee
for single family residential permits was revised from $467 to $133 as of January 1, 2012.
Major Budget Changes
With minimal forecasted development revenue for the funds, the only programed expenditure is for the
impact fee study. Fund balance and remaining available revenue is programmed as contingency at
$4,589,800. The city will continue to review and evaluate potential projects through the preparation of the
Infrastructure Improvement Plan (IIP) for the impact fee study update.
FY2011 FY2012 FY2013 FY2014 Amended to
Expenditures Actual Actual Amended Budget Budget
By category
Services 13,861 8,599 20,000 20,000 0%
Contingency 0 0 8,500 4,589,800 53898%
Total 13,861 8,599 28,500 4,609,800 16075%
By department
Finance 13,861 8,599 28,500 20,000 -30%
Community and Rec Svcs 0 0 0 4,589,800 0%
Total 13,861 8,599 28,500 4,609,800 16075%
Revenues
By fund source
Charges for Svcs/Oth 142,137 104,745 56,900 136,500 140%
Total 142,137 104,745 56,900 136,500 140%
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