The Recreation Impact Fund is a capital project fund established to account for the receipt and disbursement of developer paid impact fees restricted for the purpose of enhancing recreational opportunities and services in the City. By law, these funds may only be used for specific items related to the impact of new development and the related demands placed on the City’s services.

Revenues and other sources for the Recreation Impact Fund total $6,056,749. This amount includes a proposed total of $5,000,000 for contributions and donations, $1,053,104 for impact fees, and $0 available estimated beginning fund balance. This is a decrease of $5,790,158, or 48.9% from the fiscal year adopted 2022 budget of $11,846,907.

Excluding the beginning fund balance and other sources, recurring revenues are proposed to total $6,056,749. This is a decrease of $2,145,068, or 26.1% from the fiscal year 2022 adopted budget.

It is important to note that amended, adopted, and proposed budget numbers include Beginning Fund Balance amounts, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only revenues recognized each year. Beginning Fund Balance represents resources received and recognized in prior years as revenue but are available for appropriation in future years.

Expenditures for the Recreation Impact Fund total $6,056,749. This amount includes a proposed total of $871,004 for transfers and an estimated ending reserves balance of $5,185,745. Fiscal year 2023 proposed expenditures and other uses are balanced with the total proposed revenues and other sources.

It is important to note that amended, adopted, and proposed budget numbers include Reserves, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only expenditures recognized each year. Reserves represent funds that are held for restricted purposes or may be reallocated for specific purposes throughout the fiscal year.