HomeMy WebLinkAbout2022-005 Ordinance creating Transportation Benefit District Fund 344 (second reading)ORDINANCE NO. 2022-005
AN ORDINANCE establishing the Transportation Benefit District Fund 344.
WHEREAS, City of Yakima re-established a Transportation Benefit District (TBD in 2017; and
WHEREAS the City desires to establish a Capital Fund entitled "Transportation Benefit District
Fund" for the purpose of segregating revenues received from vehicle license fees for the purpose of
acquiring, constructing, improving, providing, and funding transportation improvements within the
Transportation Benefit District; and
WHEREAS City Staff has determined that the creation of the Transportation Benefit District Fund
is in the best interest of the City of Yakima to facilitate accounting and recording of revenues and
expenditures associated with the TBD; now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The City Council does hereby incorporate the above "whereas" recitals as findings in
support of this ordinance to establish a Transportation Benefit District Fund.
Section 2. There is hereby added a new City of Yakima Municipal Code Chapter 3.127,
Transportation Benefit District Fund for the purpose of segregating transactions for said funds.
3.127 Transportation Benefit District Fund.
A. There is hereby created the Transportation Benefit District Fund 344.
B. The Transportation Benefit District Fund shall consist of monies collected from vehicle
license registration fees for the purpose of funding TBD eligible projects.
Section 3. This ordinance is creating a new Fund 344 and adopting City of Yakima Municipal
Code Chapter 3.127, Transportation Benefit District Fund, and shall take effect immediately upon its
passage, approval and publication as provided by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 15th day of March, 2022.
atoll
anice Deccio, M yor
ATT
Sonya CI ar Tee, City Clerk
First Reading: March 1, 2022
Publication Date: March 18, 2022
Effective Date: April 17, 2022
1
ITEM TITLE:
SUBMITTED BY:
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 6.1.
For Meeting of: March 15, 2022
Ordinance creating Transportation Benefit District Fund
344 (second reading)
Jennifer Ferrer -Santa Ines, Director of Finance and Budget
SUMMARY EXPLANATION:
The City of Yakima restablished a Transportation Benefit District (TBD) in 2017 in accordance
with RCW 36.73.050. RCW 35.21.225 authorizes the legislative authority of a city to establish a
TBD for the purpose of acquiring, constructing, improving, providing, and funding transportation
improvements within the Transportation Benefit District.
Yakima City Council approved Ordinance 2017-033 to establish an annual vehicle license fee in
the amount of twenty dollars per licensed vehicle in the City for the purpose of funding TBD
eligible projects. Revenues generated from the annual vehicle license fee have been deposited
into a Capital Fund comprising of revenues from other sources including property tax and general
fund contribution per the City Charter amendment approved in August 2013. As a result of these
other revenue sources, it is not easy to identify how much revenue is only attributable to
Transportation Benefit District, which is restricted for the purpose of preserving maintaining,
operating, construction or reconstructing the transportation infrastructure.
For the reasons mentioned above, Staff recommends the creation of a separate Transportation
Benefit District Fund, Fund 344. Having a dedicated fund will improve accountability of these
funds and minimize reconciliation between revenue collections and expended amounts.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Pass Ordinance
ATTACHMENTS:
2
Description Upload Date
D Ordinance 3/1/2022
D Memo 2/16/2022
Type
Ordinance
Cover Memo