CFD Post Ranch - Includes Action Taken
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Jeffrey Graves, Budget Analyst
Finance Director Review:
City Attorney Review:
Type of Action Requested:
Resolution, Public Hearing
Public Hearing and Adoption of Final FY2017 Budget in the amount of $30,000 For The Post Ranch Community Facilities District.
Hold a public hearing on both the FY2017 Budget and proposed Tax Levy, and adopt a resolution establishing the FY2017 Final Budget for the Post Ranch Community Facilities District. A separate RCA for adoption of the tax levy is also on the agenda for consideration.
The Post Ranch Community Facilities District Budget is specifically designed to pay existing debt service, expenditures of the district and to program reserves. Included as part of this budget, is a continuation of the existing $0.30 property tax rate. As no debt has been issued, this tax includes an operational component ($0.30) and no General Obligation Bond component ($0.00). The operational tax rate does not generate sufficient funds to cover the operational costs of the District. All shortfalls are reimbursed by the developer.
The attached forms represent all of the information that has been presented to the Board and will be the adopted budget and expenditure limitation for FY2017. The required notice has been published in the local paper as specified and the Board is being asked to adopt them as Final. No changes have been made from the adopted tentative budget. A separate action will be considered tonight to establish the tax rate.
Adoption of the Budget establishes the spending plan for the following fiscal year. No expenditure of funds may take place that is not in conformance with the adopted budget.
Resolution - Approving Budget for Post Ranch FY2016-17
Post Ranch - Exhibit A FY2017 CFD Budget
Post Ranch - Exhibit B FY2017 AG Forms Final
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