§ 56-251. Accounting and reporting of impact fee.

The revenues realized from impact fees imposed pursuant to this article shall be identified in the county and school board budgets as a separate account required by F.S. § 163.31801(3)(b), (2006). The school board shall maintain adequate records to justify all expenditures from any impact fee trust fund and any accounts established within such trust fund. The county and any permitting municipality which accepts payment of educational system impact fees pursuant to subsection 56-223(a)(2) herein shall prepare annual reports reflecting the collection of impact fees pursuant to this article during the previous year and the school board shall prepare an annual report of the expenditures during the previous year of the impact fees funds collected pursuant to this article.

(Ord. No. 2007-41, § 3.11, 10-18-2007)