Title
Department of Transportation recommending the Board reaffirm its desire to provide a subsidy to the Cameron Park Airport District from the Road District Tax in an amount equal to the 2000 Education Revenue Augmentation Fund shift. FY 2012/2013 subsidy to be in the amount of $10,131.
FUNDING: Road District Tax.
Body
BUDGET SUMMARY:
Total Estimated Cost…………… $10,131
Budgeted………………………… $10,131
New Funding…………………….
Savings…………………………
Other……………………………
Total Funding Available………… $10,131
Change To Net County Cost…… $0
Fiscal Impact/Change to Net County Cost
Sufficient appropriation is included in the department's FY2012/2013 budget. Funding will be from the Road District Tax.
Background
In 2000, the Cameron Park Airport District realized significant reductions in property tax due to the Education Revenue Augmentation Fund [ERAF1] shift. Consequently, the district was unable to adequately maintain roadways and the future fiscal viability of the district became uncertain. On December 12, 2000, item 34, the Board voted to provide an annual subsidy from the Road District Tax [RDT] operations budget to the Cameron Park Airport District for the purpose of funding road maintenance. Sufficient appropriations were included in the RDT budgets and the annual subsidy payments have continued from 2000 to 2011.
Reason for Recommendation
As in the past, the current fiscal year budget includes an appropriation for the subsidy. However, since it has been some time since the Board initially approved the subsidy, the Department of Transportation [DOT] recommends the Board reaffirm it's desire to continue the subsidy. The annual ERAF1 amount is provided by the Auditor Controller's Office - Property Tax Division.
The Cameron Park Airport District continues to realize significant reductions approximately $10,000 annually in incremental property tax due to the State's creation of the ERAF1 in 2000. It is in the County's interest for this district to...
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