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i - <br />; <br /> 10/12/2015 <br /> 6.3.B. - Page 22 <br /> TJKM <br /> Transportacion <br /> Consultants ,W_...��...__ .__ <br /> � <br /> ' Analvsis <br /> Redwood City's In-Lieu Parking Fee Program is not based on the California Mitigation Fee Act and <br /> �i therefore any conformance requirements of the Act, including periodic reporting requirements,are <br /> not applicable to the program. Nevertheless, in the spirit of open government,transparency and <br /> fiscal accountability, benefits of regular reporting to the City Council far outweigh any negatives. <br /> ' Such reporting would not only help better tracking of the program balance and unfunded needs, <br /> � ' but would also help the City Council and executive staff to stay fully informed about the program <br /> ; needs, allowing them to take necessary fiscal, policy or legislative actions in a timely manner. <br /> � Recommendation <br /> ' It is recommended that the City staff provide two reports to the City Council on an on-going basis: <br /> a) An annual report summarizing various program activities including beginning and ending <br /> fund balances,fees received,funds expended, projects completed, etc. <br /> b) A report every five years summarizing fund balance, reasons for not utilizing available <br /> funds, proposed projects and anticipated expenses over the coming years,etc. <br /> � <br /> • <br /> � <br /> • <br /> P <br /> �� <br /> Redwood City/n-Lieu Parking Fee Study Page � 15 <br /> �� RESO.#15448 <br /> MUFF#703 <br />