On September 5, 2019, the City adopted its Mobility Plan and Mobility Fee Schedule to replace the Road Impact Fee previously provided to Palm Beach County. The Mobility Plan provides a blueprint for how the City intends to transition from the movement of cars to the movement of people. The Mobility Fee provides the City with a funding source that it controls to fund a wider range of multimodal improvements to provide residents with alternatives to driving and better address the needs and desires of the community. The Mobility Fee is collected from development within the City and will be spent on projects within the City to provide the benefits to those that pay the fees. The City began collecting Mobility Fees on January 1, 2020.

Revenues and other sources for the Mobility Impact Fund total $2,564,065. This amount includes a proposed total of $2,385,540 for impact fees and an available estimated beginning fund balance of $173,562. This is a decrease of $1,450,961, or 36.1% from the fiscal year 2022 adopted budget of $4,015,026.

Excluding the beginning fund balance, recurring revenues are proposed to total $2,390,503. This is a decrease of $961,741, or 28.7% 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 Mobility Impact Fund total $2,564,065. This amount includes a proposed total of $1,993,000 for capital outlay and an estimated ending reserve balance of $571,065. 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.