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File #: 22-430    Version: 1
Type: Consent Calendar Status: Agenda Ready
File created: 5/10/2022 In control: CIAB/Public Works Commission
On agenda: 5/18/2022 Final action:
Title: Approve Infrastructure Fund Annual Report for Fiscal Year 2020/21
Attachments: 1. Infrastructure Fund Annual Report Attachment 1, 2. Infrastructure Fund Annual Report Attachment 2
Date Action ByActionResultAction DetailsMeeting DetailsVideo
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CIAB/PUBLIC WORKS COMMISSION
REQUEST FOR ACTION


SUBMITTED TO: Chairman and Members of the Commission

SUBMITTED BY: Sean Crumby, PE, Director of Public Works

PREPARED BY: Sarah Whitecotton, Administrative Aide


Subject:
title
Approve Infrastructure Fund Annual Report for Fiscal Year 2020/21
body

Statement of Issue:
The City Charter requires an annual review and performance audit of the Infrastructure Fund, and a report of the findings to the City Council. This provides audited information on Fiscal Year 2020/21.

Funding Source:
Infrastructure Fund No. 314.

Recommended Action:
recommendation
Motion to recommend to City Council approval of the Infrastructure Fund Annual Report.
end

Alternative Action(s):
Direct staff to modify the Annual Report.

Analysis:
The Infrastructure Fund was established in 2002, by City Charter Section 617. Per Section 617 (a), the originally intended revenue source for the Infrastructure Fund was a planned utility use tax on natural gas purchased to generate electricity. However, this ballot measure failed. So, while the Charter amendment created the fund, it was left with no source of revenue.

Other Charter requirements related to the fund are:
* Revenue placed in the Infrastructure Fund shall not supplant existing infrastructure funding.
* General Fund expenditures for infrastructure improvements and maintenance, subsequent to 2001, shall not be reduced below 15% of general fund revenues based on a five-year rolling average.
* The City Council shall, by ordinance, establish a Citizens Infrastructure Advisory Board to conduct an annual review and performance audit of the Infrastructure Fund and report its findings to the City Council prior to adoption of the following fiscal-year budget.

The single substantial revenue source to the fund is General Fund excess fund balance per the Financial Policy adopted in Fiscal Year 2006/07. The Policy was revised beginning in Fiscal Year 2009/10 to allow for an Econo...

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