Adopted Budget (Final Document)

CITY OF MORGAN HILL - CAPITAL IMPROVEMENT PROGRAM

306- Agricultural & Open Space Preservation- Parks & Recreation

Fund Description The purpose of the Agricultural & Open Space Preservation Fund is to support the preservation and maintenance of open space through the acquisition of open space and agricultural easements. The Fund previously accounted for open space fees collected from developers through the City’s RDCS. With the elimination of RDCS due to State legislation, no new funds are anticipated. The remnant RDCS funds are to be expensed for open space expenditures. Additional revenue may be received from developers who develop farmland in the City through the City’s agricultural offset fund. Should revenues in this area be received they will be earmarked for agricultural easement acquisition.

Project List

2022-23

2023-24 2024-25

2025-26

2026-27

2027-28

110023- Infrastructure Planning

$ 150,000 $

- $

- $

- $

- $

-

Totals $ 150,000

$

- $

- $

- $

- $

-

How this Fund Generates Money for Capital Investment Funds collected are primarily used for acquiring properties for agriculture preservation easements to mitigate the loss of agricultural lands that are developed as part of the 6-Year CIP. They can also be used to open space. Limitations and Other Important Factors The funds are to be used for the acquisition of agriculture preservation easements and the purchase of open space areas. The funds may also be used for certain maintenance activities in open space areas. Goals for Capital Investment To acquire lands for open space purposes which can include mitigation for the loss of agricultural lands as the City builds out. Expenditures-Other includes transfers-out to the General Fund for administration and maintenance of open space areas, and to Fund 207 for the general plan update.

Six-Year Pro Forma

2021-22 YE 2022-23

2023-24 2024-25 2025-26 2026-27

2027-28

Fund 306- Agriculture & Open Space Preservation

Projected

Beginning Fund Balance

$ 6,011,689 $ 674,413 $ 403,616 $ 310,053 $ 215,553 $ 120,109 $ 23,710

Revenues - Impact Fees (AB1600) Revenues - Non- AB1600 RDCS

- -

- -

- -

- -

- -

- -

96,470

-

Revenues - Other

5,058

4,036

3,101

2,156

1,201

237

50,000

Expenditures - CIP Projects

150,000 125,854

-

-

-

-

-

-

Expenditures - Other Ending Fund Balance

97,600

97,600

97,600

97,600

23,947

5,483,746

$ 674,413 $ 403,616 $ 310,053 $ 215,553 $ 120,109 $ 23,710 $

-

pg. 6