CC - Agendas - City Council - REGULAR - 8/29/2006

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D. Each municipality that assesses development fees shall submit an annual report accounting for the collection and use of the fees.The annual report shall include the following: 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. (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. 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. E.Within ninety days following the end of each fiscal year, each municipality shall submit a copy of the annual report to the city clerk. Copies shall be made available to the public on request. The annual report may contain financial information that has not been audited. F. A municipality that fails to file the report required by this section shall not collect development fees until the report is filed.