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RECOMMEND POLICY FOR RECREATION <br />DISTRICT ACCOUNTING MODIFICATION <br />By: Mark Boos, Parks/Utilities Supervisor <br /> <br />CASE <br /> <br />Background: <br />At the City Council and Park and Recreation Commission work session of September 21, 1999, <br />the subject of how park dedication proceeds are accounted for and allocated was discussed. <br />After a lengthy analysis of the pros and cons of the existing system (Recreation Districts) there <br />was a consensus agreement that modification to the current practice was in order. The revision <br />would provide for increased flexibility in park spending citywide - but maintain Recreation <br />District integrity by reserving some dollars for only neighborhood park and open space <br />enhancement. <br /> <br />Observations: <br />The new system discussed would distribute the moneys as follows: <br /> <br />50% of park dedication contributions would be retained within the District generating the <br />cash - for improvements within or bordering that District. <br /> <br />50% of park dedication cash would be retained in a "city-wide district" for capital <br />improvements in any or all districts and for any park and trail projects. <br /> <br />Interest earnings on the citywide district would be retained within that district. Interest <br />earnings over the aggregate of the 17 districts, would also be applied to the citywide district <br />unless specified otherwise by year-end. <br /> <br />At Jaauary's regular Park and Recreation Commission meeting, the attached resolution was <br />recommended for approval by City Council. This resolution, if passed, would be effective <br />immediately for new park dedication contributions. The Commission and staff are <br />recommending that existing balances in the Park Trust Fund (park dedication contributions) <br />remain in the respective Recreation Districts. <br /> <br />Council Action: <br />Motion to adopt Resolution #00-02- <br />proceeds. <br /> <br />for the accounting and disbursement of park dedication <br /> <br />Reviewed by: <br />Parks/Utilities Supervisor <br />Finance Officer <br />Park and Recreation Commission <br />Director of Public Works <br /> <br />Copies also distributed to: <br />City Administrator <br />Community Development Director <br />Senior Accountant <br />Planning Commission <br /> <br />CC:2/22/00 <br /> <br />\\RA_FS I \VOL l\uscrs\City Shared FilckCOUNCILCSCITYCOUN~.22.00 Park Districts.doc <br /> <br /> <br />