HomeMy WebLinkAboutDevelopment Fee Report - Fiscal Year 22-23.pdf16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
ANNUAL DEVELOPMENT FEE REPORT
For Fiscal Year Ended
June 30, 2023
Town of Fountain Hills, Arizona
Prepared By:
Town of Fountain Hills Finance Division
David J. Pock, Chief Financial Officer
July 11, 2023
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 pay 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 2023
Development Fee Rates
From July 1, 2022 – June 30, 2023*
Residential (fees per unit) Fire Parks & Rec Streets
Residential $122 $1,916 $1,935
Multi-Family $94 $1,479 $964
Nonresidential (fees per sq. ft.) Fire Parks & Rec Streets
Industrial $0.10 $0.56 $0.63
Commercial $0.14 $0.81 $2.86
Institutional $0.06 $0.32 $2.48
Office $0.18 $1.03 $1.24
* Resolution 2020-03 was adopted by the Town Council on January 21, 2020 with new fees
effective April 5, 2020.
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2023
Schedule of Capital Project Expenditures
Fund Project Number Project Name Project Location Expenditures
$ -
$ -
16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268
Town of Fountain Hills, Arizona
Annual Development Fee Report
Fiscal Year 2023
Fund 720 730 740
Fire &
Emergency Streets
Parks &
Recreation Total
Beginning Balance 07/01/22 388,545$ 340,478$ 1,212,141$ 1,941,164$
Revenues
Development Fees Collected 16,026 190,125 174,811 380,962
Transfers - - - -
Interest/Earnings 12,918 13,932 42,277 69,127
Total Revenues 28,944 204,057 217,088 450,089
Expenditures
Professional Fees - - - -
Capital Project Expenditures - - - -
Total Expenditures - - - -
Net Increase <Decrease> 28,944 204,057 217,088 450,089
Ending Balance 06/30/23 417,489$ 544,535$ 1,429,229$ 2,391,253$
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 than the funds established for
development fees.
Summary of the Collection and Use of Development Fees