HomeMy WebLinkAbout11 Districts Dept fund AGENDA # I '
TRUCKEE DONNER
Public
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Memorandum
To: Board of Directors
From: Mary Chapman, Administrative Services Manager
Date: March 27,2003
Subject: Consideration of authorizing a transfer of funds from the Martiswoods Estates and
Ponderosa Ranchos Prepaid Connection Fees restricted fund to the District's water
department general fund
1. Why this item is before the Board:
Staff needs to transfer funds out of the Martiswoods Estates restricted fund; only the
Board can authorize this transfer.
2. History:
At the end of each year, we present to the Board a request to reimburse the water
general fund for water connections made in the Martiswoods Estates and Ponderosa
Ranchos subdivisions during the year. When the properties were developed, the
developers were charged connection fees in advance. These fees have been invested
and are listed on the Investment Report each month.
3. New Information:
During 2002, the Water Department staff installed three water services in the
Martiswoods and Ponderosa Ranchos subdivisions. The following is a request to
transfer this amount from the restricted fund and reimburse the water department
general fund. After the transfer, the fund will have a balance of$71,652.73.
2002 - 3 Services @ $990.00 = $2,970.00
4. Recommendation:
To authorize staff to transfer $2,970.00 from the Prepaid Connection Fees restricted
fund to the water department general fund to reimburse the fund for the installation of
three water services in Martiswoods Estates and Ponderosa Ranchos during 2002.