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TRUCKEE DONNE
Public � Districtr
Memorandum
To: Board of Directors
From: Mary Chapman, Administrative Services Manager
Date: January 31, 2008
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
WHY THIS ITEM IS BEFORE THE BOARD
Staff needs to transfer funds out of the Martiswoods Estates and Ponderosa Ranchos
prepaid connection fee restricted fund. Only the Board can authorize this transfer.
Mission Statement Objective:
6. Manage the District in an effective, efficient and fiscally responsible manner.
Goal:
6.1 Develop appropriate financial procedures to assure responsible
financial management.
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.
NEW INFORMATION
During 2007, the water department staff installed one water service in the Martiswoods
Estates subdivision. 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 $76,254.79.
2007 - 1 Service @ $1,145.00 = $1,145.00
RECOMMENDATION
To authorize staff to transfer $1,145.00 from the Prepaid Connection Fees restricted
fund to the water department general fund to reimburse the fund for the installation of
one water service in Martiswoods Estates during 2007.
Mary Ch a Michael Holley, General Manager
Administrative Services Manager