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Agenda Item 30.

City Council Meeting

Meeting Date:	12/07/2021
FROM:	Bill Gallardo

Subject:

Community Facilities Districts Annual Financial Report for the Fiscal Year Ended June 30, 2021

RECOMMENDATION

Receive and file.

BACKGROUND/DISCUSSION

During Fiscal Year 2020-21, there were seven CFDs in the City of Brea. Annually, special taxes are levied and collected to pay for the annual costs associated with these CFDs. There are three bonded CFDs in which the special taxes are used to make payments related to bonds that were issued for the benefit of the CFD. There are four non-bond (public services) CFDs in which the special taxes are used to pay the annual public safety and maintenance costs associated with the CFDs.

Government Code Sections 50075.3 (Report on Special Taxes) and 53411 (Report on Bond Proceeds) require the chief financial officer of the issuing local agency to file an annual Community Facilities District (CFDs) financial report with its governing body no later than January 1 of every year. The attached reports provide a summary of the financial activity which includes the beginning balance as of July 1; amounts collected and expended during the fiscal year; and the ending balance as of June 30 for each CFD.

FISCAL IMPACT/SUMMARY

There is no fiscal impact related to the issuing of these reports. As mandated by the California Government Code Sections 50075.3 and 53411, City staff is submitting the Community Facilities Districts Annual Financial Report for Fiscal Year Ended June 30, 2021. The report will insure compliance with Sections 50075.3 and 53411 of the California Government Code.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Cindy Russell, Administrative Services Director

Attachments
CFD Annual Financial Reports-FY2020-21