Development Impact Fee Reporting (AB 1600)
Development Impact Fee Report (AB 1600)
The City of Pico Rivera levies development impact fees to finance the planning, design, construction, and acquisition of public improvements, including facilities and equipment necessary to accommodate future growth and development within the City pursuant to Government Code 66000 et seq. When collected, the fees are deposited into special funds.
Mandated Accounting Guidelines
One of the mandated accounting guidelines, as stated in Government Code 66006(a), provides that the City shall establish separate funds for each type of improvement funded by development impact fees. The City adopted development impact fees for the Public Image Enhancement Fund (Fund 220) in 1996 and the Park Development Fund (Fund 270) in 1994.
Each local agency is required within 180 days after the last day of each fiscal year to make available to the public the following information:
- Fee amounts
- Interest earned on the balance of those fees collected
- Other income in the account
- The amount of expenditure for each public facility or improvement made from the fund during the year