AGENDA DATE: 3/18/2020
TITLE: Fiscal Year 2019 Cash Proffer Report
BODY
SUBJECT/PROPOSAL/REQUEST: Report on cash proffer revenue and expenditures July 2018-July 2019
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Walker, Letteri, Kamptner, Filardo, McCulley, Svoboda, Ragsdale, Allshouse L., and Bittle
PRESENTER (S): Rebecca Ragsdale
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In 2007, the Board directed staff to provide a quarterly reports on the status of cash proffers. The last quarterly report was provided to the Board on April 5, 2017. With that report, proffer reporting was switched to a yearly basis. The last yearly proffer report was provided to the Board on January 16, 2019. This report includes cash proffer information for fiscal year 2019.
STRATEGIC PLAN: Mission: to enhance the well-being and quality of life of all citizens through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION: Proffer Activity for Fiscal Year 2019
A. New Proffered Revenue: No rezonings were approved this fiscal year that increased expected total proffer revenue.
B. Total Proffered Revenue: Total estimated proffer revenue is $48,914,683.76.
C. Cash Revenue: The County received a total of $1,285,839.23 from existing cash proffers during fiscal year 2019. (Attachment A)
D. Appropriations: A total of $70,221.30 was appropriated during fiscal year 2019. (Attachment A)
E. Expenditures: A total of $746,908.58 was expended in fiscal year 2019. (Attachment A)
Current Available Funds: As of June 30, 2019, the available proffered cash on-hand is
$6,541,943.23 (including interest earnings on proffer revenue received). Of the available proffered cash on-hand, $1,740,812.36 (including interest earned) is currently appropriated (Attachment B). The net cash balance is $4,801,130.90 and may be used for future expenditures. Of the net remaining funds $1,072,845.59 is pr...
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