Flood Control - Santa Cruz LAFCO

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