GBD Annual Report 2018-19

Finances
The Dogpatch and Northwest Potrero Hill
Green Benefit District was formed in 2015
by a 76% majority vote of district property
owners, whose assessments form the base
of the GBD’s funding. The Management
Plan adopted in that vote regulates
GBD finances. Public Works and the San
Francisco Board of Supervisors provide
oversight and an independent financial
review is conducted each year.
The GBD’s Management Plan specifies
that assessment funds be divided into 4
categories – Maintenance, Capital Projects,
Accountability & Outreach (which includes
communications, outreach, reports,
meetings, events and advocacy) and
Operations. Assessment funds should
be allocated within 10% of the guidelines
specified by the property owner-approved
Management Plan.
Statement of Financial Position
June 30, 2019
ASSETS
CURRENT ASSETS
Cash and cash equivalents - GBD $450,809
Cash and cash equivalents - UCSF 249,983
Accounts receivable -
Total current assets $700,792
OTHER ASSETS
Prepaids and deposits 1,804
Total other assets $1,804
Total assets $702,596
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts payable $13,533
Total current liabilities $13,533
The GBD operates on the same fiscal year The District has 2 zones, Dogpatch and NW
as City government – from July 1 to June 30. Potrero Hill. Assessments are expended
NET ASSETS
The initial assessment revenue for a fiscal proportionally in the zone where they are
Without donor restrictions
year beginning July 1 is not received until collected. For FY18/19, 86% of collected
Board-designated $441,914
the following January. This requires the funds came from Dogpatch and 14% from
With donor restrictions
GBD to roll over 50% of its annual operating NW Potrero Hill. Because of anticipated
UCSF Grants $244,452
budget (for July through December) from variations in the needs of the 2 zones, the
The Gateway 2,697
33 each prior year.
percentage of funds specified for each
Total with donor restrictions $247,149 34
of the 4 spending categories varies from
Total net assets $689,062
Dogpatch to NW Potrero Hill.
Total liabilities & net assets $702,596
More detailed financial information is
online at GreenBenefit.org
DOGPATCH & NW POTRERO HILL GREEN BENEFIT DISTRICT
Assessment Rates
Assessment rates are determined by property use and size.
1. Determine the primary parcel use.
2. Find the assessment rate per sq. ft. according to parcel use.
3. For commercial, industrial, and residential uses, multiply building square footage by the
assessment rate. For parking lots, vacant lots, and open space, multiply lot square footage
by the assessment rate.
Commercial, Residential, Parking Lot, Vacant 100% $ 0.095
Industrial 50% $ 0.048
Park, Greenspace 25% $ 0.024
Inaccessible 0% $ 0.000
General Benefit
The general benefit is the amount of non-assesment funds that must be raised each fiscal year.
2018/19 GENERAL BENEFIT REQUIREMENT $29,441
Cash Grants & Donations
Donations $17,880
UCSF Grants 500,000
Total grants & donations $517,880
In-Kind & Volunteer
1,510 Volunteer hours @ $15 $22,650
In-Kind contributions 10,416
Total in-kind & volunteer 33,066
Total non-assessment funds $550,946
ANNUAL REPORT 18/19