 MuniFinancial has been providing District Administration Services to the El Dorado Schools Financing Authority since 2000. This Joint Powers Authority, which consists of the El Dorado Union High School District together with the Buckeye and Rescue Union Elementary School Districts, formed CFD No. 1 to finance school facilities. Given that the CFD's annual collections must be allocated between two elementary districts and one high school district, MuniFinancial submits the special taxes to the County separately for each elementary district to ensure that all taxes received are kept separate. This eliminates unnecessary tracking of collections (including penalties and interest) between the elementary districts.
In addition to the annual district administration, MuniFinancial prepares and coordinates "one-time special tax" calculations between the El Dorado County Office of Education and the Authority; these calculations are time-sensitive since they are required prior to issuance of building permits within the annexed portions of the CFD.
MuniFinancial provides, upon request, interim special tax revenue reports for any of the three School Districts. Since the tax revenues are derived from building permits, this typically enhances available financing proceeds. |
