FY2022 Adopted Operating and Capital Budget

FY2022 Adopted Budget Fund Budgets

Impact Fees/School Mitigation

Impact Fees/School Mitigation This fund records the collection of impact fees and school construction fees. The funding is then used to fund capital projects by either transferring pay go to the Capital Project Fund or by paying for debt service costs associated with bond funding. Impact fees offer a funding source to help meet the capital expenditure requirements of planned infrastructure expansion. Impact fees are broadly defined as one time charges assessed against new development that attempt to recover from the developer the capital cost of the additional public facilities needed to serve that development. Currently impact fees are collected for school and library facilities. The payment of a school construction fee (or mitigation fee) was an option between July 2011 and July 2016 for developments that failed the school adequacy provision of the county APFO. This fee also provides funding to help meet the capital expenditure requirements of planned infrastructure expansion. Budget Highlights Other Financing Uses is significantly lower in the FY22 Budget since there is only one elementary school project being financed with fund balance.

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