HomeMy WebLinkAbout03/15/2022 06I Ordinance creating Transportation Benefit District Fund 344 (second reading)B US INE S S O F T HE C I T Y C O UNC I L
YAK I M A, WAS HING T O N
AG E ND A S TAT E M E NT
I tem No. 6.I .
F or Meeting of: March 15, 2022
I T E M T IT L E :Ordinance creating Transportation Benefit District F und
344 (second reading)
S UB M IT T E D B Y:J ennifer Ferrer-Santa I nes, Director of Finance and Budget
S UM M ARY E X P L ANAT I O N:
The City of Yakima restablished a Transportation Benefit District (T B D) in 2017 in accordance
with R C W 36.73.050. R C W 35.21.225 authorizes the legislative authority of a city to establish a
T B D 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 T B D
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 A ugust 2013. As a result of these
other revenue sources, it is not easy to identify how much revenue is only attributable to
Transportation B enefit 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
B enefit District Fund, Fund 344. Having a dedicated fund will improve accountability of these
funds and minimize reconciliation between revenue collections and expended amounts.
I T E M B UD G E T E D:NA
S T RAT E G I C P RI O RI T Y:P ublic Trust and Accountability
AP P RO V E D F O R S UB M IT TAL B Y T HE C IT Y M ANAG E R
RE C O M M E ND AT I O N:
P ass Ordinance
AT TAC HM E NT S :
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Description Upload Date Type
Ordinance 3/1/2022 Ordinance
Memo 2/16/2022 Cover Memo
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ORDINANCE NO. 2022-____
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.
__________________________________
Janice Deccio, Mayor
ATTEST:
_______________________________
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Sonya Claar Tee, City Clerk
First Reading: March 1, 2022
Publication Date:
Effective Date:
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FINANCE
TO: Mayor and City Council
FROM: Jennifer Ferrer-Santa Ines, Director of Finance and Budget
DATE: February 16, 2022
RE: Ordinance creating a Transportation Benefit District Fund 344
The City of Yakima re-established 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.
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