The Public Facilities 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 funding land and capital construction and expansion of public buildings required to support the additional government service demand created by new development. By law, public facility impact fee revenues can only be used for capacity expansion projects and not for expenses related to replacement, maintenance, or operations.

Revenues and other sources for the Public Facilities Impact Fund total $567,079. This amount includes a proposed total of $242,121 for impact fees and an available estimated beginning balance of $323,341. This is an increase of $193,476, or 51.8% from the fiscal year 2022 adopted budget of $373,603.

Excluding the beginning fund balance, recurring revenues are proposed to total $243,738. This is a decrease of $16,710, or 6.4% from the fiscal year 2022 adopted budget of $260,448.

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 Public Facilities Impact Fund total $567,079. This amount includes a proposed total of $320,000 for capital outlay and an estimated ending reserves balance of $247,079. 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.