FINANCE AND ADMINISTRATION COMMITTEE
ITEM:		ACTION ITEM
7.	CONSIDER RECOMMENDATION TO AUTHORIZE A CONTRACT WITH Corporation Service Company - Recording Fees
Meeting Date:			June 10, 2024	Budgeted:	Yes
From:			David J. Stoldt,	Program/	Recording Fees
			General Manager	Line Item No.:	26-05-781900
Prepared By:			Stephanie Locke	Cost Estimate:	$60,000 (partially reimbursed)
General Counsel Review: N/A
Committee Recommendation: The Finance and Administration Committee reviewed this item on June 10, 2024, 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 150 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 $60,000 of budgeted funds for document recording during Fiscal Year 2024-2025.    

RECOMMENDATION:  The Finance and Administration Committee may recommend that the Board approve the expenditure of $60,000 for recording fees for Fiscal Year 2024-2025.

IMPACT TO STAFF/RESOURCES:  Funds for this expenditure are included in the Fiscal Year 2024-2025 budget.

EXHIBIT

None

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