§ 107-18. Deposit and expenditure of fees.  


Latest version.
  • The city shall comply with all applicable accounting requirements of O.C.G.A. § 36-71-8, which includes the following:

    (1)

    Maintenance of funds.

    a.

    All development impact fee funds collected for future expenditure on construction or expansion of facilities pursuant to this chapter shall be maintained in one or more interest-bearing accounts until encumbered or expended. Restrictions on the investment of development impact fee funds shall be the same that apply to investment of all city funds generally.

    b.

    Separate accounting records shall be maintained for each category of system improvements (parks and recreation, public safety and road improvements) and for administration fees collected.

    c.

    Interest earned on development impact fees shall be allocated to each category of system improvements and the administration accounts in proportion to the impact fees collected, shall be considered funds of the account on which it is earned and shall be subject to all restrictions placed on the use of development impact fees under this chapter.

    (2)

    Expenditures; restrictions.

    a.

    Expenditures from the system improvements impact fee accounts shall be made only for the category of system improvements for which the development impact fee was assessed and collected.

    b.

    Expenditures from the administration account may be expended directly for administrative purposes, which may include required annual reporting or amendments to the capital improvements element) or transferred to the general fund to cover administrative costs.

    c.

    Except as provided below, development impact fees shall not be expended for any purpose that does not involve building, acquiring or expanding system improvements that create additional capacity available to serve new growth and development.

    d.

    Notwithstanding anything to the contrary in this chapter, the following shall be considered general revenue of the city, and may be expended accordingly:

    1.

    Impact fees collected to recover the present value of excess capacity in existing system improvements;

    2.

    Any portion of an impact fee collected as a repayment for previous expenditures made by the city for system improvements intended to be funded by such impact fee; and

    3.

    Any portion of the fee collected for administration of the impact fee program.

    (3)

    Annual financial report.

    a.

    The director of the finance department shall prepare an annual report to the administrator as part of the annual audit describing the amount of any development impact fees collected, encumbered, and expended during the preceding fiscal year by category of public facility.

    b.

    Such annual report shall be prepared following guidelines of the Georgia Department of Community Affairs (DCA), and included in the annual update report of the city's capital improvements element as required to be submitted to the regional commission and reviewed by DCA, in accordance with section 107-37.

( Ord. No. 2016-10-33 , § I, 10-18-2016)