Flood Control - Santa Cruz LAFCO

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Sources: Finances Santa Cruz LAFCO: Countywide Service Review Aptos Zone 6 Financial Summary FY 02-03 Actual Flood Protection and Stormwater Services FY 03-04 Actual FY 04-05 Final Budget Permit Processing Fees $21,535 $49,865 $37,500 Drainage Charges $61,663 $111,461 $125,000 Interest $10,081 $6,111 $5,000 Uses: Total Revenue $93,279 $164,437 $167,500 Services and Supplies $121,012 $133,532 $192,250 Capital Improvements $42,150 $14,891 $436,133 Contingencies 0 0 $4,264 Index 622375 Sources: Total Uses $163,162 $148,423 $632,647 Fund Balance, End of Year $449,133 $465,147 Finances Pajaro Valley Zone 7 Financial Summary FY 02-03 Actual FY 03-04 Actual FY 04-05 Final Budget Drainage Charges $1,259,511 $1,283,768 $1,306,033 Interest $17,676 $13,156 $12,000 Other Revenue $5,418 $3,017 0 Uses: Total Revenue $1,282,605 $1,299,942 $1,318,033 Services and Supplies $666,494 $639,444 $785,500 Capital Improvements, Equipment $168,418 $138,407 $1,032,112 Principal and Interest on Long-Term Debt $418,238 $425,478 $429,577 Contingencies $287,413 Index 622380 Total Uses $1,253,150 $1,203,330 $2,534,602 Fund Balance, End of Year $1,248,022 $1,344,635 June 2005 – Public Review Draft Section 5 - 11
Sources: Finances Santa Cruz LAFCO: Countywide Service Review Pajaro Valley Zone 7A Financial Summary FY 02-03 Actual Flood Protection and Stormwater Services FY 03-04 Actual FY 05-06 Proposed Budget Drainage Charges 0 0 $220,000 Uses: Total Revenue 0 0 $220,000 Capital Improvements, Equipment 0 0 $220,000 Index 622385 Sources: Finances Total Uses 0 0 $220,000 San Lorenzo Valley Zone 8 Financial Summary FY 02-03 Actual FY 03-04 Actual FY 04-05 Final Budget Permit Processing Fees $31,415 $56,035 $46,000 Drainage Charges $101,563 $121,774 $128,000 Interest $2,230 $2,179 $1,500 Uses: Total Revenue $135,208 $179,988 $175,500 Services and Supplies $92,783 $103,925 $138,000 Capital Improvements $7,972 $191,282 Contingencies $33,388 Index 622360 Total Uses $92,783 $111,897 $362,670 Fund Balance, End of Year $119,079 $187,170 The District noted that Zones 5 and 6 are nearly built-out and it is expected that revenue from permit processing fees will decline. In 2004 the County issued $23 million in Certificates of Participation to finance payments due for settlement of the lawsuits arising from damage to property caused by flooding of the Pajaro River. Interest rates range from 2.25% to 5.00%; the Certificates mature in 2024. The County’s Government Center was used as collateral for the financing; debt service, including principal and interest, is paid from the County’s General Fund. $300,000 (nearly half) of the District’s revenues go to the Arreola Settlement. In addition, the County has $2.91 million in outstanding revenue bonds related to flood control projects in Pajaro Storm Drain Maintenance District and Zone 7; interest rates range from 4.2% to June 2005 – Public Review Draft Section 5 - 12
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Flood Control - Santa Cruz LAFCO

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