HomeMy WebLinkAboutDevelopment Fee Report - Fiscal Year 14-15.pdf16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
ANNUAL DEVELOPMENT FEE REPORT
For Fiscal Year Ended
June 30, 2015
Town of FountainHills,Arizona
Prepared By:
Town of Fountain Hills Finance Division
August 15, 2015
Craig Rudolphy, Finance Director
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Finance Division
Ph. (480) 816-5100
Fax (480) 837-3145
Fountain Hills Town Clerk, and other interested parties:
As required by state law, the following pages include (as applicable):
1. The amount assessed by the municipality for each type of development fee.
2. The balance of each fund maintained for each type of development fee assessed as of the
beginning and end of the fiscal year.
3. The amount of interest or other earnings on the monies in each fund as of the end of the
fiscal year.
4. The amount of development fee monies used to repay:
a. Bonds issued by the municipality to pa y the cost of a capital improvement project
that is the subject of a development fee assessment, including the amount needed
to repay the debt service obligations on each facility for which development fees
have been identified as the source of funding and the time frames in which the
debt service will be repaid.
b. Monies advanced by the municipality from funds other than the funds established
for development fees in order to pay the cost of a capital improvement project that
is the subject of a development fee assessment, the total amount advanced by the
municipality for each facility, the source of the monies advanced and the terms
under which the monies will be repaid to the municipality.
5. The amount of development fee monies spent on each capital improvement project that is
the subject of a development fee assessment and the physical location of each capital
improvement project.
6. The amount of development fee monies spent for each purpose other than a capital
improvement project that is the subject of a development fee assessment.
This report complies with ARS § 9-463.05 N as amended. The information contained in this
report is based on the Town’s fund financial statements but is unaudited data. If you have any
questions about this report or need additional information, contact:
Town of Fountain Hills
Finance Division
16705 E. Avenue of the Fountains
Fountain Hills, AZ 85268
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2015
Development Fee Rates
From July1, 2014 – July 31, 2014
Fee Category Unit Fee
Law Enforcement
Residential dwelling $ 112
Non-Residential square foot $ 0.070
Fire and Emergency
Residential dwelling $ 207
Non-Residential square foot $ 0.129
Streets
Single Family (SF) - Residential dwelling $ 5,614
Multi-Family (MF) - Residential dwelling $ 3,942
Commercial square foot $ 3.835
Office square foot $ 2.835
Hotel square foot $ 2.258
Industrial square foot $ 1.235
Parks and Recreation
Residential dwelling $ 2,118
Library/Museum
Residential dwelling $ 79
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2015
Development Fee Rates
From August 1, 2014 – July 31, 2015
Fee Category Unit Fee
Fire and Emergency
Residential dwelling $ 300
Non-Residential square foot $ 0.243
Parks and Recreation
Residential dwelling $ 1,301
Note: Development fees for Law Enforcement, Streets and Library/Museum were eliminated as
of August 1, 2014.
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2015
Fund Project Number Project Name Project Location Expenditures
730 N/A Shea Boulevard Widening Shea Boulevard 407,921$
750 N/A Debt Service on Bonds 43,445
Total Expenditures 451,366$
Schedule of Capital Project Expenditures
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2015
Fund/ 710 720 730 740 750 760
Law
Enforcement
Fire &
Emergency Streets
Parks &
Recreation Open Space
Library /
Museum Total
Beginning Balance 07/01/14 202,754$ 50,578$ 374,116$ 132,279$ 1,647,920$ 42,958$ 2,450,605$
Revenues
Development Fees Collected 672 20,504 33,684 68,651 - 474 123,985
Transfers - - -----
Interest/Earnings 58 45 121 34 13,240 13 13,511
Total Revenues 730 20,549 33,805 68,685 13,240 487 137,496
Expenditures
Professional Fees - - - - 535 - 535
Capital Project Expenditures --407,921 --43,445 451,366
Total Expenditures --407,921 -535 43,445 451,901
Net Increase <Decrease> 730 20,549 (374,116)68,685 12,705 (42,958)(314,405)
Ending Balance 06/30/15 203,484$71,127$-$200,964$1,660,625$-$2,136,200$
Note:
1. No bonds were issued to pay the cost of a capital improvement project that is the subject of a development fee
assessment.
2. No monies were advanced from funds other that the funds established for development fees.
Summary of the Collection and Use of Development Fees