FINANCE AND ADMINISTRATION COMMITTEE

 

ITEM:

ACTION ITEM

 

7.

Approve Expenditure to Corporation Service Company - Recording Fees

 

Meeting Date:

June 12, 2023

Budgeted: 

 Yes

 

From:

David J. Stoldt,

Program/

Recording Fees

 

General Manager

Line Item No.:

26-05-781900

 

Prepared By:

Stephanie Locke

Cost Estimate:

$50,000 (partially reimbursed)

 

General Counsel Review:  N/A

Committee Recommendation: The Finance and Administration Committee reviewed this item on June 12, 2023, and recommended _______________.

CEQA Compliance:  This action does not constitute a project as defined by the California Environmental Quality Act Guidelines Section 15378.

 

SUMMARY:  The District records approximately 100 documents each month with the County Recorder’s office with average recording fees of $35. The documents are electronically recorded through Corporation Service Company (CSC).  Approximately 40 percent of the recording fees are reimbursed by the applicant.  Recorded documents include deed restrictions related to access to water records and limitations on use, Well Confirmation of Exemptions, Water Distribution System Permits, and notices of non-compliance/compliance and removal.  

 

CSC requires immediate payment at the time a document is recorded.  To facilitate this, the District maintains a deposit account that is regularly refilled to cover recording costs. Staff is seeking approval of $50,000 of budgeted funds for document recording during Fiscal Year 2023-2024.    

 

RECOMMENDATION:  The Finance and Administration Committee should recommend that the Board approve the expenditure of $50,000 for recording fees for Fiscal Year 2023-2024.

 

IMPACT TO STAFF/RESOURCES:  Funds for this expenditure are included in the Fiscal Year 2023-2024 budget.

 

EXHIBITS

None

 

 

 

U:\staff\Board_Committees\FAC prev Admin\2023\20230612\07\Item-7.docx