TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Kelley Cochran
425-556-2748
DEPARTMENT STAFF:
Finance
Nida Hermoso
Accounting Manager
Finance
Haritha Narra
Deputy Finance Director
TITLE:
title
2023 Impact Fee Collection and Distribution Report
OVERVIEW STATEMENT:
recommendation
The Revised Code of Washington (RCW) and the City of Redmond Municipal Code (RMC) require an annual report to the Mayor and City Council on impact fee receipts, earnings, and system improvements financed in whole or part by impact fees. This report summarizes the 2023 impact fee activity and is presented for information purposes only.
The Impact Fee Report is provided to Council after the State Auditors complete the financial statement audit. The 2023 financial audit was delayed due to D365 system preparation and implementation in June 2023, and the audit did not start until May 2025 and lasted through October 2025 (which is longer than usual). A typical financial statement audit year starts in April and ends in June.
The 2024 financial statement audit is estimated to start December 2025 with a completion target date of March 2026, and the 2024 Impact Fee Report will be provided to Council upon completion. The estimated timeline to complete the 2024 Impact Fee Report for the Council is August of 2026.
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? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
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REQUEST RATIONALE:
* Relevant Plans/Policies:
N/A
* Required:
Revised Code of Washington (RCW) 82.02.070 Impact fees: Annually, each county, city, or town imposing impact fees shall provide a report on each impact fee account showing the source and amount of all moneys collected, fees shall provide a report on each impact fee account showing the source and amount of all moneys collected, earned, or received and system improvements that ...
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