All funds derived from a particular type of system development charge are to be segregated by accounting practices from all other funds of the city. The system development charge calculated and collected shall be used for no purpose other than those set forth in § 50.007. The city shall provide an annual accounting to be completed by January 1 of each year for system development charges showing the total amount of system development charge revenues collected for each system and the projects that were funded in the previous fiscal year. The city shall include in the annual accounting a list of the amounts spent on each project funded, in whole or in part, with system development charge revenues, and the amount of revenue collected by the city from system development charges and attributed to the cost of complying with the provisions of this subchapter, including the costs of developing system development charge methodologies and providing annual accountings.
(Ord. 500, passed 4-10-2006)