“These (T-Mobile) dollars are coming from external dollars, which means that they can’t be co-mingled with the town’s other funds,” said General Manager Rick Howard. “But the establishment of a general fund means that they can be used anywhere.”
The CSD board unanimously voted for the creation of the fund, which will hold not only the roughly $24,000 annually from T-Mobile, but other unrestricted funds as well.
“Every time we sell a Discovery Bay license plate or T-shirt we can (potentially) put it into the general fund,” said Howard.
What can’t go into the general fund are revenues from restricted funds such as water and wastewater or landscaping. However, while restricted funds cannot be used for general-fund expenditures, general funds can be used to augment restricted funds.
As for what future items might fall under the general fund umbrella, discussion at the CSD meeting included the possibility of community-center funds, the creation of a recreation league and expenses generated from the town’s advisory council (AC) functions not included in the town’s CSD duties.
“At this time, we are not committing to anything,” said CSD President Kevin Graves at the Nov. 17 meeting. “We just need to have a spot to put it (T-Mobile funds). We’re just trying to get something set up. We’ll look at other options later.”
The town executed the T-Mobile lease on Nov. 3. Once the contract is returned, the first payment of $2,000 will be issued to the town. When the building permits for the cell tower are pulled, the regular monthly payments of $2,000 to Discovery Bay will begin.