Capacity Fee Deposit Report

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The District’s capacity fees recover the costs associated with providing water and sanitation facility capacity to new users and existing users requiring additional capacity. The capacity fee is designed to recover the cost for the additional capacity needed to accommodate the new connections. Pursuant to Las Virgenes Municipal Code Section 3-2.207, Each September 1, the District posts a report of the balance and uses of capacity fees for the District’s preceding fiscal year and this report is transmitted to the Board at a subsequent Board meeting. The balances and uses of the District’s capacity fees for Fiscal Year 2016/17 are shown below.

LAS VIRGENES MUNICIPAL WATER DISTRICT

Annual Water & Sewer Capacity Fee Deposits Report

Per Government Code Section 66013 (d) and (e) Fiscal Year Ended June 30, 2017


Beginning Balance:

Capacity Fees

$ 4,631,465

Developer Fees

798,569

Interest

1,440,833

Total Beginning Balance

$ 6,870,867

Fees Collected:

Capacity Fees

$ 3,272,955

Developer Fees

126,887

Total Fees Collected

$ 3,399,842

Interest Earned

72,760

Fees Available

$ 3,472,602

Applied to:

Capital Costs Funded by:

Capacity Fees

$ 593,503

Meter Installation

22,834

Developer Fees

115,232

Interest Earned

28,657

Total Capital Costs

$ 760,226

Refunds

15,193

Total Funds Applied

$ 775,419

Net Changes for the Year

2,697,183

Ending Balance:

Capacity Fees

$ 7,274,546

Developer Fees

808,568

Interest (1)

1,484,936

Total Ending Balance

$ 9,568,050

(1): Interest earned is not reflected as liability on the Statement of Net Assets.

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