CFD Villago - Includes Action Taken


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    F.1       
Meeting Date: 06/20/2016  
Recommended by: Doug Sandstrom Prepared by: Jeffrey Graves, Budget Analyst
Finance Director Review: Doug Sandstrom  
City Attorney Review: Brett Wallace  
Approved by: Jim Thompson Date Submitted: 05/13/2016
Type of Action Requested: Resolution, Public Hearing

SUBJECT:
Public Hearing And Adoption Of Final FY2017 Budget In The Amount Of $788,000 For The Villago Community Facilities District.
RECOMMENDATION:
Hold a public hearing on both the FY2017 Budget and proposed Tax Levy, and adopt a resolution establishing the FY2017 Final Budget for the Villago Community Facilities District. A separate RCA for adoption of the tax levy is also on this agenda for consideration.
DISCUSSION:
The Villago 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. This tax includes an operational component ($0.30) and a General Obligation Bond component ($2.00).

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. There have been no changes to the adopted tentative budget. A separate item is scheduled tonight for consideration to establish the tax rate.
FISCAL IMPACT:
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.
ALTERNATIVES:
N/A
Attachments
Villago - Resolution approving budget for FY16-17
Villago - Exhibit A FY2017 CFD Budget
Villago - Exhibit B FY2017 AG Forms

  

    

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