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Committee approves accounting correction to re-establish park impact fee fund
Summary
Sheboygan City's Finance and Personnel Committee approved an accounting correction to close the existing park impact fee fund in the general ledger and transfer its remaining balance to a newly established park impact fee fund; staff described the change as a bookkeeping correction, not a change in how funds are spent.
The Sheboygan City Finance and Personnel Committee approved a resolution authorizing the finance director to make accounting entries to close the existing park impact fee fund and transfer its remaining balance to a newly established park impact fee fund.
City staff described the change as an accounting correction tied to how the fund was set up in 2017. "This is truly an accounting correction, I would say," staff told the committee, saying the money itself has been spent appropriately but the fund classification in the accounting system created reporting and budget difficulties.
Aldo Decker asked whether the impact fees are collected from new construction such as apartment buildings and new homes; city staff confirmed the fee is collected on new residences and must be used for park improvements and equipment. That confirmation clarifies the source and permitted use of the fund's revenues.
Aldo Perella moved to approve the accounting correction; the motion was seconded and approved on a voice vote. The resolution directs the finance director to make the ledger entries necessary to close the old fund and establish the new park impact fee fund for cleaner budget presentation going forward.
