 In 1997, the San Dieguito Union High School District engaged MuniFinancial to assist the School District in handling all on-going responsibilities for their numerous Community Facilities Districts. The District realized that due to rapid residential development and the need to form multiple Mello Roos Districts in the future, it would be beneficial to contract out these vital functions. Part of this particular project's challenge is maintaining and updating the parcel database to ensure that all newly developing property is appropriately taxed, and therefore maximize revenue to the District. In addition, an annual cash flow certificate is required before escrowed bond proceeds may be released to fund additional authorized school facilities. MuniFinancial prepares the cash flow statements, and coordinates with all interested parties to ensure its timely completion. After MuniFinancial became the administrator of the Community Facilities Districts, our team implemented extensive procedures to verify that information is coordinated between all parties. Since that time, the School District has continued to expand the scope of work performed by our firm to include all newly- created districts, as well as preparing continuing disclosure reports and arbitrage rebate calculations.
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