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replacement charge revenue. The replacement funds are accounted for separately (Funds 345 ands 346). Appendix C includes the fiscal year 2006-07 information for these funds as part of the Water Projects worksheet and the Sewer Projects worksheet. Lower-Income Housing Fund (Fund 271) -This fund is utilized to track the receipt of Lower-Income Housing fees and their disbursement for lower-income housing projects. Appendix B identifies the expenditures from this fund. Neighborhood Park Development Fund (Fund 1592 -This fund is utilized to track the receipt of Park Dedication In Lieu fees. In lieu park dedication fees are exempt from the accounting and other requirements of AB 1600, however Appendix C contains the fiscal year 2006-07 Park Projects worksheet. Traffic Impact Fund (Fund 161) -This fund is utilized to track the receipt of Traffic Impacf fees. When a project serves both new and existing development, only the portion related to new development is charged against this fund. The other portions of the project are funded by other sources, such as gas tax revenues or the General Fund. Appendix C includes the fiscal year 2006-07 information for this fund as part of the Streets Projects worksheet. Development Exactions - Individual development exactions are accounted for in separate funds. Applicable project costs are charged against these funds and interest income is allocated appropriately. Appendix A details the individual developer exactions collected and unexpended as of June 30, 2007. AB 1600 and SB 1693 further provide procedures for the collection and holding of development fees. Government Code section 66001(d) provides that five years after collecting a development fee subject to AB 1600 and SB 1693, a local agency shall make findings that year and every five years thereafter, with respect to any portion of the fee remaining unexpended. The findings must identify the purpose that the fee is to be used and demonstrate a nexus between the fee and the purpose for which it was originally charged. The findings must also identify all sources and amounts of funding anticipated to complete the improvement and the approximate date that the improvement will be fully funded. After five years, a local agency is also required to refund the unexpended portion of the fee, and any accrued interest, for which a need cannot be demonstrated. However, when a city makes appropriate findings (including that the purpose for the developer impact fee remains), the city may retain the fee. Staff reviewed development impact fees collected during FY 2001-02, FY 1996-97, and FY 1991-92 to determine if any still remain unexpended or uncommitted. Three developer exactions collected in FY 01-02 remain unexpended as of June 30, 2007. Two developer exactions collected in FY 96-97 remain unexpended as of June 30, 2007. All developer exactions collected in FY 91-92 have been expended as of June 30, 2007. The attached resolution contains the details on these five exactions. Also, the Lower-Income Housing Fund has not expended all the developer fees collected during the period July 1, 2001 and June 30, 2002. These lower-income housing fees are being Page 3 of 4