Newman City Council notes

The Newman City Council had a brief meeting on Jan. 9, in which they accepted the Capital Facilities Fees annual report and approved a resolution statement of investment policy for the City.

Capital Facilities Fees are to offset impacts of new development and can be used for the purchase, construction, expansion, rehabilitation, or acquisition of public facilities. The City of Newman collects Capital Facilities Fees (CFF) on new development to fund infrastructure improvements that are necessary to accommodate new growth.

The Capital Facilities Fees annual report is required by the state and must include the following information for the public:

• The beginning and ending balance of the fund.

• The amount of the fees collected and interest earned.

• The amount of refunds made.

• A description of each interfund transfer or loan made by the fund.

• Identification of each public improvement on which the fees were expended and the amount expended on each improvement.

Current fees.

Fund 16 - Park Facility Fee

The fees collected and deposited into this fund are used for the acquisition and development of Parks. The Parks Facility Fee ended the fiscal year with $1,016,521.39.

Fund 40 - Public Facility Fees

The fees collected and deposited into this fund are for the acquisition and construction and improvement of Capital Facilities for Police, Fire, City Hall, General Plan Community Building, Corporation Yard, Wildlife Habitat and Traffic. The Public Facility Fee had $4,802,800.17. This was the only fee to have expenditures for the fiscal year. The report shows $171,783 was spent on contract services, plan consulting, administrative expenditures, advertising and land acquisition.

Fund 41 - Supplemental Impact Fees

The fees collected and deposited into this fund are for the acquisition, construction and improvement of Sewer, Water, Downtown Plaza, General Planning, and Aquatic Center. The Supplemental Impact Fee had $1,073,842.03.

Fund 42 - Storm Drain Fee

The fees collected and deposited into this fund are for the expansion and improvements to the City’s storm drain system. The Storm Drains Fee ended with $313,552.55.

If the City no longer needs the funds for the purposes collected, or fails to make required findings, or perform certain administrative tasks prescribed by law, the City may be required to refund, on a prorated basis to owners of the properties upon which the fees for the improvement were imposed, the monies collected for that project and any interest earned on those funds. For the last fiscal year there were no refunds issued.

To view the entire report, visit http://tinyurl.com/4a6t3mtd .

The Council also approved the Statement of Investment Policy for the City of Newman. The City of Newman’s cash management system is designed to monitor and forecast expenditures and revenues, thus enabling the City to invest funds to the fullest extent possible. The City attempts to obtain the highest yield obtainable as long as investments meet the criteria established for safety and liquidity. The State of California Government Code requires the City to follow the Prudent Investor Rule. This affords the City a broad spectrum of investment opportunities as long as the investment is deemed prudent.

The City has the following accounts:

General Checking - BMO Bank - Checking Account

Savings - BMO Bank-Money Market Account

Petty Cash - Cash in Drawers and Petty Cash Drawer

USB - Investment in CDs

LAIF - Local Agency Investment Fund

Chandler Asset Management - CSJVRMA Investment Pool

These constitute the balance of the total cash held by the City. It does not include deposits held by the City’s bonding company.

The policy states investments may be made in the following media;

• Securities of the US Government, or its agencies (Treasury Bills/Notes)

• Small Business Administration Loans

• Certificates of Deposits • Bankers Acceptances (Letter of Credit)