FY2014 Recommended Budget - City of Surprise

Roads of Regional Significance
Development Fee Funds
Description
The roads of regional significance development fund are established to account for the inflow of
development fees levied on new residential and commercial construction. This fee can only be used for
the purchase, construction, financing, and furnishing of new capital or one-time items directly related to
the increased demand on roadways caused by growth. Development fees cannot be used to subsidize
operational needs.
Revenues are based upon an estimated issuance of single family residential permits and estimated
square feet of non-single family residential permits in FY2014. The roads of regional significance
development fees remains unchanged from FY2008 $5,396 in SPA 3 and 5 per single family residential
permit and FY2008 at $5,715 in Special Planning Area (SPA) 2, 4, and 6 as established July 1, 2007.
Major Budget Changes
With no forecasted development revenue for the funds, the only programed expenditures are for the
impact fee study. Fund balance and remaining available revenue is programmed as contingency at
$2,130,900. 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
By category
Actual Actual Amended Budget Budget
Services 13,972 2,022 20,000 20,000 0%
Capital 0 0 0 0 0%
Contingency 0 0 9800 2,130,900 21644%
Total
By department
13,972 2,022 29,800 2,150,900 7118%
Finance 13,972 2,022 29,800 20,000 -33%
General Operations 0 0 0 2,130,900 0%
Total 13,972 2,022 29,800 2,150,900 7118%
Revenues
By fund source
Charges for Svcs/Oth 258,570 23,746 11,600 27,400 136%
Total 258,570 23,746 11,600 27,400 136%