City of Morgan Hill Adopted Budget FY 2016-17 and FY 2017-18

CITY OF MORGAN HILL CAPITAL IMPROVEMENT PROGRAM

348 - Library Impact

Fund Description Library Impact Fund revenues are derived from a fee charged to developers to cover the costs to construct library improvements required as a result of new development. Expenditures may only be made for the future construction of the required new library facilities or to reimburse the City for funds advanced to construct such facilities. Fund is subject to the restrictions of AB1600. How this Fund Generates Money for Capital Investment New development creates the need for City to expand its inventory of public facilities and build new, or add on to current, infrastructure to handle the demands for new services. The City imposes public facilities fees under authority granted by the Mitigation Fee Act (the Act), contained in California Government Code Sections 66000 et seq. Limitations and Other Important Factors All development impact fee-funded capital projects are programmed through the City's 6-Year CIP, by which the City identifies and directs its fee revenue to new public facilities/infrastructure projects that will accommodate future growth. Goals for Capital Investment The goal for the use of this fund is to fund the design for the expansion of the Morgan Hill Library. Expenditures-Other includes the Transfers Out for Bond/Debt. Sufficient Library Impact Funds are available to complete Phase I & II. Any shortfall will be made up with a temporary interfund loan. Phase III will be put on hold until sufficient revenues are generated. Revenue-Other includes library rent, and for FY 17/18, it includes a transfer from Fire Impact Fund 313.

Project List Summary Projects 251015 - Library Expansion

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

$115,000 $3,330,000

Totals

$115,000

$3,330,000

Six-Year Pro Forma

2015-16 YE Projected

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

Beginning Fund Balance Revenues - Impact Fees (AB1600) Revenues - Non- AB1600 RDCS Revenues - Other Expenditures - CIP Projects Expenditures - Other Ending Fund Balance

$1,403,385

$1,809,815

$2,293,305

$0

$140,653

$254,133

$670,363

$830,466

$671,160

$523,110

$523,110

$493,500

$493,500

$493,500

$143,144

$142,243

$727,399

$128,150

$132,476

$138,698

$138,698

$320,000

$115,000 $3,330,000

$247,180 $1,809,815

$214,913

$213,814

$510,607 $140,653

$512,495 $254,134

$215,968 $670,363

$215,968 $1,086,593

$2,293,305

$0

2017-2022 Six-Year Capital Improvement Program

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