CC - Item 4F - Adoption of Resolution No. 2024-66 to Receive and File the Annual Report on Development Impact Fees for Fiscal Year Ending June 30, 2024ROSEMEAD CITY COUNCIL
STAFF REPORT
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: BEN KIM, CITY MANAGER
DATE: DECEMBER 10, 2024
SUBJECT: ADOPTION OF RESOLUTION NO. 2024-66 TO RECEIVE AND FILE THE
ANNUAL REPORT ON DEVELOPMENT IMPACT FEES FOR FISCAL
YEAR ENDED JUNE 30, 2024
lulu /:ll
In accordance with Section 66006 of California Government Code, the City is required to annually
report on the status of Development Impact Fees, including the collection of revenue and
expenditure of these funds, within 180 days after the end of the fiscal year. This report summarizes
the required financial information for Fiscal Year 2023-24.
State law, commonly referred to as AB 1600 or the Mitigation Fee Act (Government Code Section
66000 et seq.), governs the imposition, collection, and use of development impact fees. The
Mitigation Fee Act codifies the legal requirement that fees on new development must have the
proper nexus to any project on which they are imposed. In addition, the Mitigation Fee Act
imposes certain accounting and reporting requirements with respect to the fees collected. The fees,
for accounting purposes, must be segregated from the general funds of the City and from other
funds or accounts containing fees collected for other improvements. Interest on each development
fee fund or account must be credited to that fund or account and used only for the purposes for
which the fees were collected.
Government Code Section 66006 contains comprehensive annual reporting requirements for
development impact fees. This statute requires that, within 180 days after the close of the fiscal
year, the City must make available to the public the following information regarding each fund or
account: a description of the fee type, the amount of the fee, beginning and ending balances, fee
and interest income, expenditures funded by the fee by improvement, a description of interfund
loans or transfers, and certain refunds.
AGENDA ITEM 4.F
City Council Meeting — FY 2024 Development Impact Fee Report
December 10, 2024
Page 2 of 2
This report must also be reviewed by the City Council at a regularly scheduled public meeting not
less than 15 days after the information is made available to the public. In addition, a notice of the
time and place of the meeting shall be mailed at least 15 days prior to the meeting to any interested
party who files a written request with the local agency for such a mailed notice.
STAFF RECOMMENDATION
That the City Council adopt Resolution No. 2024-66 to receive and file the Annual Report of
Development Impact Fees for FY 2023-24.
FISCAL IMPACT
None
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process and has also been
available for public review in the City Clerk's Office at City Hall and on the City's website since
November 25, 2024.
Prepared by:
Bryan Chua, Finance Director
Attachment A: Resolution No. 2024-66 with Annual Development Fee Report— FY 2023-24
Attachment A
Resolution No. 2024-66 with
Annual Development Fee Report
FY 2023-24
RESOLUTION NO. 2024-66
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD, CALIFORNIA, REGARDING THE ANNUAL REPORT
ON DEVELOPMENT IMPACT FEES AS OF JUNE 30, 2024
WHEREAS, Government Code Sections 66000 regulate the imposition, collections,
maintenance, expenditure and reporting of impact fees imposed on developers for the purpose of
defraying costs of public facilities; and
WHEREAS, the City of Rosemead ("City") has established four impact fees to be
collected from developers that are subject to Government Code Sections 66000 requirements.
Those funds are the Traffic Impact Fee (Fund 250), the Public Safety Impact Fee (Fund 251), the
General Governmental Impact Fee (Fund 252), and the Parks Impact Fee (Fund 253); and
WHEREAS, the City has prepared an annual report for FY 2023-24 in accordance with
Government Code Section 66006 reflecting the beginning and ending balances in each separate
fund containing impact fees, the amount of fees collected and the interest earned for the year, the
amount of expenditures and refunds made in the year and a description of the type of fees; and
WHEREAS, a copy of the annual report has been on file and available for review in the
City Clerk's office at City of Rosemead City Hall and on the City's webpage since November 25,
2024; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMEAD,
DOES HEREBY RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1. That the City Council of the City of Rosemead accepted the attached Annual
Report on Development Impact Fees for Fiscal Year Ended June 30, 2024,
SECTION 2. The City Clerk shall certify to the adoption of this resolution and hereafter
the same shall be in full force and effect.
PASSED, APPROVED, AND ADOPTED this 10`" day of December, 2024.
Steven Ly, Mayor
APPROVED AS TO FORM: ATTEST:
Rachel Richman, City Attorney
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ROSEMEAD
Ericka Hernandez, City Clerk
I, Ericka Hernandez, City Clerk of the City Council of the City of Rosemead, California, do hereby
certify that the foregoing City Council Resolution No. 2024-66 was duly adopted by the City
Council of the City of Rosemead, California, at a regular meeting thereof held on the 10" day of
December, 2024, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Ericka Hernandez, City Clerk
ANNUAL DEVELOPMENT
IMPACT FEE REPORT
Fiscal Year Ended June 30, 2024
Mayor
Steven Ly
Council Member
Sandra Armenta
Mayor Pro Tem
Margaret Clark
Council Member
Sean Deng
Executive Team
City Manager— Ben Kim
CityClerk................................................................
CityAttorney..........................................................
Assistant City Manager ...........................................
Chief of Police (LA County Sheriff's Dept) ...............
Director of Community Development (Interim) .....
Director of Finance .................................................
Director of Parks & Recreation ...............................
Director of Public Works ........................................
Council Member
Polly Low
..Ericka Hernandez
Rachel H. Richman
.... Richard Rojas
...... Kevin Tiwari
....... Lily Valenzuela
............ Bryan Chua
.. Thomas Boecking
........Sam Gutierrez
FY 2024 Development Impact Fee Report I City of Rosemead
Table of Contents
Letter of Transmittal
INTRODUCTION
Legal Requirements for Development Impact Fee Reporting...............................................................4
California Government Code Section 66001(d).....................................................................................
4
AdditionalNotes.....................................................................................................................................
5
Establishing a Reasonable Relationship Between the Fee and Purpose ................................................
5
Fundingof Infrastructure.......................................................................................................................
5
RESPONSE TO THE REPORTING REQUIREMENTS
Description of Development Impact Fees.............................................................................................
6
CurrentFee Schedule............................................................................................................................
6
Beginning and Ending Balance of the Funds.........................................................................................
7
The Amount of Fees Collected and Interest Earned..............................................................................
7
Identification of Each Public Improvement............................................................................................
8
Identification of Approximate Date Construction is to Commence.......................................................
8
Description of Interfund Transfers or Loans..........................................................................................
8
Amount of Refunds Due to Sufficient Funding.......................................................................................
8
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FINANCIAL SUMMARIES
Combined Summaries at June 30, 2024, Last Five Fiscal Years, Revenue by Year
.................................9
TrafficImpact Fee Fund........................................................................................................................
10
Public Safety Impact Fee Fund.............................................................................................................
10
General Government Impact Fee Fund................................................................................................
11
ParksImpact Fee Fund.........................................................................................................................11
POSE0A
December 10, 2024
The Honorable Mayor, Members of the City Council and Residents of Rosemead,
City Council approved the establishment of Development Impact Fees through the enactment of
Government Code Sections 66001 through 66009. Ordinance No. 949 established Development Impact
Fees for Traffic, Public Safety, General Government, and Parks, while Resolution No. 2015-07 approved
the final draft Development Impact Fee (DIF) Study and set the impact fees. The DIF Study provided a
detailed study of the impacts of future growth on local facilities and provided the analysis and support for
the DIFs imposed by the City. The fees established were approved with a 3 -year phase in approach with
current fees effective since July 1, 2017.
DIFs are charged by local governmental agencies in connection with approval of development projects.
The purpose of these fees is to defray all or a portion of the cost of public facilities related to the
development project. The legal requirements for enactment of a DIF program are set forth in Government
Code Sections 66000-66025 (the "Mitigation Fee Act"), the bulk of which was adopted as 1987's AB 1600
and thus commonly referred to as "AB 1600 requirements".
In Rosemead, DIFs are collected at the time a building permit is issued for the purpose of mitigating the
impacts caused by new development on the City's infrastructure. Fees are to be used to finance the
acquisition, construction and improvement of public facilities needed as a result of this new development.
A separate fund has been established to account for the impact of new development on each of the
following types of public facilities: Traffic, Public Safety, General Government, and Parks.
State law requires any local agency that imposes development impact fees to prepare and make available
an annual report providing specific information about those fees within 180 days afterthe last day of each
fiscal year. Therefore, in accordance with the provisions of the California Government Code Section 66006
(b) and 66001 (d), as amended by Assembly Bill (AB) 518 and Senate Bill (SB) 1693, 1 hereby submit the
Development Impact Fee (DIF) Report for the City of Rosemead, California for the fiscal year (FY) ended
June 30, 2024. The City Council must review the annual report at a regularly scheduled public meeting
not less than fifteen days after the information is made available to the public. This report was filed with
the City Clerk's office and available for public review on November 25, 2024.
Respectfully submitted,
"l/ C—W�
Bryan Chua, Finance Director
FY 2024 Development Impact Fee Report 3 City of Rosemead
Introduction
LEGAL REQUIREMENTS FOR DEVELOPMENT IMPACT FEE REPORTING
A. CALIFORNIA GOVERNMENT CODE SECTION 66006 (b)
California Government Code Section 66006 (b) defines the specific reporting requirements for local
agencies that impose AB 1600 DIFs on new development. Annually, for each separatefund established
for the collection and expenditure of DIFs, the local agency shall, within 180 days after the last day of
each fiscal year, make available to the public the information shown below for the most recent fiscal
year. The applicable page numbers for the location where each item can be found in the report are
provided for reference.
1) A brief description of the type of fee in the account or fund. (pg 6)
2) The amount of the fee. (pg 7)
3) The beginning and ending balance of the account or fund. (pgs 7 & 9-11)
4) The amount of the fees collected and interest earned. (pg 8)
5) An identification of each public improvement on which fees were expended and the amount of
expenditures on each improvement, including the total percentage of the cost of the public
improvement that was funded with fees. (pg 8)
6) An identification of an approximate date by which the construction of the public improvement
will commence if the local agency determines that sufficient funds have been collected to
complete financing on an incomplete public improvement. (pg 8)
7) A description of each interfund transfer or loan made from the account or fund, including the
public improvement on which the transferred or loaned fees will be expended, and, in the case of
an interfund loan, the date on which the loan will be repaid and the rate of interest that the
account or fund will receive on the loan. (pg 8)
8) The amount of refunds made due to sufficient funds being collected to complete financing on
incomplete public improvements, and the amount of reallocation of funds made due to
administrative costs of refunding unexpended revenues exceeding the amount to be refunded.
(pg 8)
B. CALIFORNIA GOVERNMENT CODE SECTION 66001(d)
For all funds established for the collection and expenditure of DIFs, California Government Code
Section 66001(d) has additional requirements. For the fifth fiscal year following the first deposit into
the fund and every five years thereafter, the local agency shall make all of the following findings with
respect to that portion of the fund remaining unexpended, whether committed or uncommitted:
1) Identify the purpose to which the fee is to be put. (pg 8)
2) Demonstrate a reasonable relationship between the fee and purpose for which it is charged.
(pg 5)
FY 2024 Development Impact Fee Report 4 City of Rosemead
3) Identify all sources and amounts of funding anticipated to complete financing in incomplete
improvements. (pg 8)
4) Designate the approximate dates on which the funding is expected to be deposited into the
appropriate account or fund. (pg 8)
C. CALIFORNIA GOVERNMENT CODE SECTION 66002
The State of California Government Code Section 66002 states that local agencies that have developed
a fee program may adopt a CIP indicating the approximate location, size, time of availability, and
estimates of cost for all facilities or improvements to be finance with the fees. The capital
improvement plan is to be adopted by, and annually updated by, a resolution of the governing body
of the local agency adopted at a noticed public hearing. Notice of the hearing is to be given pursuant
to Section 65090. This section also defines the meaning of "facility' or "improvement" as used in this
section which includes all capital projects identified in the capital facilities plan adopted pursuant to
Section 66002.
The City's current, adopted Capital Improvement Program can be found on the City's website at
www.cityofrosemead.org.
D. ESTABLISHING A REASONABLE RELATIONSHIP BETWEEN THE FEE AND THE PURPOSE FOR WHICH IT
IS CHARGED
The DIF Program sets forth the relationship between contemplated future development, facilities
needed to serve future development and the estimated costs of those improvements based on the
current General Plan for build -out. The City's current DIF Program has been in effect since FY 2016-
17 based on the Development Fee Study which evaluated future growth in relation to future
infrastructure needs. As provided in Resolution No. 2015-07, fees are to be adjusted annually each
fiscal year beginning on July 1, 2018 by a percentage equal to the percentage increase, if any, in the
Engineering News Record (ENR) Construction Price Index for the Los Angeles County Area.
E. FUNDING OF INFRASTRUCTURE
The Capital Improvement Program (CIP) identifies all funding sources and amounts for individual
projects. The CIP is updated annually to reflect the current infrastructure needs of the City. As a CIP
project is identified, the project is evaluated to determine the portion of the project that will serve
existing residents and businesses versus new development. Once the determination of use is made,
the percentage of use attributable to new development is then funded by the appropriate
development impact fee based on the type of project. The percentage of use associated with existing
residents or businesses are funded from other appropriate sources as identified on each individual
project sheet in the CIP.
FY 2024 Development Impact Fee Report 5 City of Rosemead
Response to the Reporting Requirements
1) DESCRIPTION OF DEVELOPMENT IMPACT FEES
a) Traffic Facilities —Fund 250— The purpose of the Traffic Impact Fee is tofu nd the share of roadway
improvement costs allocated to new development. The fee is based on the projected vehicle trip
growth in Rosemead and the roadway improvements that have been identified to accommodate
additional traffic. The revenue is to fund the share of roadway improvement costs allocated to
new development.
b) Public Safety Facilities — Fund 251 — The purpose of the Public Safety Impact fee is to fund the
public safety facilities needed to serve new development. The fee is based on the existing facility
standard in the City of Rosemead. This fee will allow the City to maintain its current level of
facilities per capita as growth occurs. The fee revenue can be used to expand existing public safety
facilities, construct new facilities, and purchase additional vehicles and equipment to
accommodate additional development and the corresponding demands for services.
c) General Government Facilities — Fund 252 —The purpose of the General Government Impact fee
is to fund the general government facilities needed to serve new development. The fee is based
on the existing facility standard in the City of Rosemead. This fee will allow the City to maintain
its current level of facilities per capita as growth occurs. The fee revenue can be used to expand
existing general government facilities, construct new facilities, and purchase additional vehicles
and equipment to accommodate additional development and the corresponding demands for
services.
d) Park Facilities — Fund 253 —The purpose of the Park Impact fee is to generate revenue to expand
the City's park facilities to accommodate new residential development and the increases in
population that result. The fee is based on the City's existing standard of park acreage per 1,000
residents. The fee is charged under the Mitigation Fee Act, and only applies to residential
development. The revenue may be used to purchase park land, develop new parks, or develop
improvements at exiting parks that expand their capacity to accommodate additional usage
resulting from population increased related to new development.
2 CURRENT FEE SCHEDULE
The current fees were approved by Resolution No. 2015-07 on June 9, 2015. The fees, as adopted
provided for a 3 -year phase in with final fees established as of July 1, 2017. Although a fee escalation
based on the percentage change equal to the percentage increase, if any, in the Engineering News
Record (ENR) Construction Price Index for the Los Angeles County Area was included in the fee
adoption, the fees have not been increased since reaching the final phased in amount.
FY 2024 Development Impact Fee Report 6 City of Rosemead
Type
Single Use Mixed Use
Zones Zones
Type
Single Use
Zones
Mixed Use
Zones
Residential
Fund Balance
Nonresidential
No.
Residential Fees per Dwelling Unit
Single Family
$ 6,500 $ 6,388
Retail
$ 1,365
$ 1,242
Multi -family
$ 5,197 $ 5,126
Office
$ 1,997
$ 1,812
Single Family Multi Family Single Family
Mufti Family
Industrial
$ 1,250
$ 1,127
Fees are expressed per dwelling unit for residential
Fees are expressed per
1,000 sq ft of floor area for nonresidential
These fees are further defined on pages 6, 25, 31, 35, and 43 in Attachment "A" of the April 2015
Development Impact Fee Study with Park Development Impact Fees modified by the City Council upon
adoption. The fees by type are as follows:
3 BEGINNING AND ENDING BALANCE OF THE FUND(S)
Beginning
Residential
Fund
Cummulative
Fund Balance
Fund Balance
No.
Residential Fees per Dwelling Unit
7/01/2023
6/30/2024
250
Traffic
129,669
Single Use Mixed
Use
Public5afety
Fund # Fund Description
30,547
Single Family Multi Family Single Family
Mufti Family
139,715
250
Traffic
Parks
$ 1,024 $ 634
$ 912
$ 563
Totals
251
Public Safety
26,520
145 121
145
121
49,953
252
General Government
185,972
1,013 844
1,013
844
212,932
253
Parks
786,133
4,318 3,598
4,318
3,597
319,277
35,285
354,562
1,174,277
$ 6,500 $ 5,197 $ 6,388
$ 5,125
Non -Residential
Non -Residential Fees per 1,000 SF of Floor Area
Single Use
Mixed Use
Fund # Fund Description
Retail
Office Industrial Retail
office
Industrial
250
Traffic
$ 1,136
$ 1,690 $ 1,137 $ 1,013
$ 11505
$ 1,014
251
Public Safety
29
39 14 29
39
14
252
General Governmer
200
268 99 200
268
99
253
Parks
-
- - -
-
-
$ 1,365
$ 1,997 $ 1,250 $ 1,242
$ 1,812
$ 1,127
3 BEGINNING AND ENDING BALANCE OF THE FUND(S)
4 THE AMOUNT OF FEES COLLECTED AND INTEREST EARNED
Beginning
Ending
Fund
Cummulative
Fund Balance
Fund Balance
No.
Impact Fee Fund
7/01/2023
6/30/2024
250
Traffic
129,669
210,889
251
Public5afety
19,891
30,547
252
General Government
139,715
214,686
253
Parks
360,136
431,615
Public Safety
Totals
649,412
887,737
4 THE AMOUNT OF FEES COLLECTED AND INTEREST EARNED
FY 2024 Development Impact Fee Report 7 City of Rosemead
FY 2023-24
Cummulative
Fees
Interest
Total
Fees
Interest
Total
Collected
Earned
Revenue
Collected
Earned
Revenue
Traffic
49,240
6,699
55,940
175,652
9,957
185,609
Public Safety
7,151
975
8,126
26,520
1,498
28,018
General Governmer
49,953
7,007
56,960
185,972
10,703
196,675
Parks
212,932
20,604
233,536
786,133
32,539
818,672
Total
319,277
35,285
354,562
1,174,277
54,697
1,228,974
FY 2024 Development Impact Fee Report 7 City of Rosemead
5 IDENTIFICATION OF EACH PUBLIC IMPROVEMENT ON WHICH IMPACT FEES WERE SPENT
Development impact fees in the amount of $22,430 contributed to cost associated with City Hall
Interior Renovation project and $3,260 contributed towards the cost of the Public Safety Center
both of which is anticipated to be completed bythe beginning of 2025-26 fiscal year.
6 IDENTIFICATION OF APPROXIMATE DATE BY WHICH THE CONSTRUCTION WILL COMMENCE
The Rosemead Blvd/1-10 Ramp project and the Acoustic Panels at RCRC & Garvey Gym project are
experiencing delays due to personnel turnover and project priority. Projects for traffic (Rosemead
Blvd/ 1-10 Ramp), and park project (Acoustic Panels at RCRC & Garvey Gym) are scheduled to begin
in fiscal year 2025-26.
7 DESCRIPTION OF INTERFUND TRANSFERS OR LOANS MADE FROM DEVELOPMENT IMPACT FEE FUNDS
No transfers or loans of Development Improvement Fee funds have occurred through June 30, 2024.
8 AMOUNT OF REFUNDS MADE DUE TO SUFFICIENT FUNDS BEING COLLECTED TO COMPLETE PUBLIC
IMPROVEMENTS
No refunds from Development Improvement Fee funds have been made.
FY 2024 Development Impact Fee Report 8 City of Rosemead
Statement of Revenue, Expenditures and Fund Balances
Combined Summaries
For the Year Ended lune 30, 2024
REVENUES OVER (UNDER)
EXPENDITURES 55,940 4,866 34,530 233,536 328,872
Fund Balance, Beginning of Year 154,949 25,681 180,156 198,079 558,865
Fund Balance, End of Year 210,889 30,547 214,686 431,615 887,737
Last Five Fiscal Years
Description
Traffic
Public Safety
Gen'I Govt
Parks
Totals
Description
F250
F251
F252
F253
Totals
REVENUE
154,779
22,842
159,470
518,695
855,786
Impact Fees
49,240
7,151
49,953
212,932
319,277
I merest Earnings
6,699
975
7,007
20,604
35,285
Total Revenue
55,940
8,126
56,960
233,536
354,562
EXPENDITURES
156,589
235,566
350,259
711,316
1,065,878
Expenditures
3,260
22,430
-
25,690
Total Expenditures
-
3,260
22,430
-
25,690
REVENUES OVER (UNDER)
EXPENDITURES 55,940 4,866 34,530 233,536 328,872
Fund Balance, Beginning of Year 154,949 25,681 180,156 198,079 558,865
Fund Balance, End of Year 210,889 30,547 214,686 431,615 887,737
Last Five Fiscal Years
Description
Traffic
F250
Publ is Safety
F251
Gen'I Govt
F252
Parks
F253
Totals
REVENUE
20,069
11,866
25,616
50,896
55,940
I mpact Fees
154,779
22,842
159,470
518,695
855,786
I merest Ea rni ngs
9,608
1,438
10,272
26,718
48,036
Total Revenue
164,387
24,280
169,741
545,413
903,821
EXPENDITURES
Total Expenditures
REVENUES OVER (UNDER)
EXPENDITURES
164,387 24,280 169,741
225,000 -
320,413 678,821
Fund Balance, End of Year 210,889 30,547 214,686 431,615 887,737
Fees and Interest - Last Five Fiscal Years by Year
Fund
FY 2019-20
FY 2020-21
FY 2021-22
FY 2022-23
FY 2023-24
Traffic
20,069
11,866
25,616
50,896
55,940
Publ is Safety
3,619
1,682
2,532
8,321
8,126
General Government
25,267
11,750
17,662
58,103
56,960
Parks
107,635
53,679
68,884
243,737
233,536
Total
156,589
78,976
114,694
361,057
354,562
Cummulative
156,589
235,566
350,259
711,316
1,065,878
FY 2024 Development Impact Fee Report 9 City of Rosemead
Statement of Revenue, Expenditures and Fund Balances
Traffic
Development Impact Fee
Statement of Revenues, Expenditures and Changes in Fund Balance
Last Five Fiscal Year
Description
FY 2019-20
FY 2020-21
FY 2021-22
FY 2022-23
FY 2023-24
REVENUE
Impact Fees
19,312
11,809
25,604
48,814
49,240
Interest Ea rni ngs
757
56
13
2,082
6,699
Total Revenue
20,069
11,866
25,616
50,896
55,940
EXPENDITURES
penaimres - - -
Total Expenditures - - -
REVENUES OVER (UNDER)
EXPENDITURES 20,069 11,866 25,616 50,896 55,940
Fund Balance, Beginningof Year 21,222 41,291 53,157 104,053 154,949
Fund Balance, End of Year 41,291 53,157 78,773 154,949 210,889
Public
Development Impact Fee
Statement of Revenues, Expenditures and Changes in Fund Balance
Last Five Fiscal Year
Description
FY 2019-20
FY 2020-21
FY 2021-22
FY 2022-23
FY 2023-24
REVENUE
Impact Fees
3,484
1,672
2,531
8,003
7,151
Revenue
135
10
1
318
975
Total Revenue
3,619
1,682
2,532
8,321
8,126
EXPENDITURES
Expenditures - - - - 3,260
Total Expenditures - - - - 3,260
REVENUES OVER (UNDER)
EXPENDITURES 3,619 1,682 2,532 8,321 4,866
Fund Balance, Beginningof Year 3,738 7,357 9,039 17,360 25,681
Fund Balance, End of Year 7,357 9,039 11,570 25,681 30,547
FY 2024 Development Impact Fee Report 10 City of Rosemead
Statement of Revenue, Expenditures and Fund Balances
General Government
Development Impact Fee
Statement of Revenues, Expenditures and Changes in Fund Balance
Last Five Fiscal Year
Description
FY 2019-20
FY 2020-21
FY 2021-22
FY 2022-23
FY 2023-24
REVENUE
I mpact Fees
24,308
11,682
17,658
55,868
49,953
Revenue
959
68
4
2,235
7,007
Total Revenue
25,267
11,750
17,662
58,103
56,960
EXPENDITURES
Expenditures - - - - 22,430
Total Expenditures - - - - 22,430
REVENUES OVER (UNDER)
EXPENDITURES 25,267 11,750 17,662 58,103 34,530
Fund Balance, Beginningof Year 26,934 52,200 63,950 122,053 180,156
Fund Balance, End of Year 52,200 63,950 81,612 180,156 214,686
Parks
Development Impact Fee
Statement of Revenues, Expenditures and Changes in Fund Balance
Last Five Fiscal Year
Description FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY2023-24
REVENUE
Impact Fees 79,876 103,624 53,395 68,869 212,932
Revenue 1,804 4,011 284 15 20,604
Total Revenue 81,680 107,635 53,679 68,884 233,536
EXPENDITURES
Expenditures - - - 225,000 -
Total Expenditures - - - 225,000 -
REVENUES OVER (UNDER)
EXPENDITURES 81,680 107,635 53,679 (156,116) 233,536
Fund Balance, Beginning of Year 111,202 192,882 300,517 354,195 198,079
Fund Balance, End of Year 192,882 300,517 354,195 198,079 431,615
FY 2024 Development Impact Fee Report I I City of Rosemead