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8 <br /> ii. At the time of this report a fund balance of approximately$54,000 remains for Landscape Maintenance <br /> District 1994-1. The projected 2022-23 expenses, if current maintenance levels and water use were <br /> maintained, are higher than the projected annual revenues. Reserve/replacement funds are held in an <br /> interest-bearing account until needed for repairs to the irrigation system, landscaping or other District <br /> features. <br /> iii. The rate shown here is for a single-family home or its equivalent. For the definition of the term Single-Family <br /> Equivalent(SFE)and rates for other types of property, see the section titled, "Method of Assessment"and <br /> the sections following it in this report. <br /> iv. The Act requires that proceeds from the assessments must be deposited into a special fund that has been <br /> set up for the revenues and expenditures of the Maintenance District. Moreover, funds raised by the <br /> assessment shall be used only for the purposes stated within this Report.Any balance remaining at the end <br /> of the Fiscal Year, June 30, must be carried over to the next Fiscal Year.The District may also establish a <br /> reserve fund for contingencies and special projects as well as a capital improvement fund for accumulating <br /> funds for larger capital improvement projects or capital renovation needs. Any remaining balance would <br /> either be placed in the reserve fund, the capital improvement fund, or would be used to reduce future years' <br /> assessments. The Landscape Maintenance District 1994-1 reserve/replacement funds are held in an <br /> interest-bearing account until needed for repairs to the irrigation system, landscaping or other District <br /> features. <br /> City of Pleasanton <br /> Landscape Maintenance District No. 1994-1, Oak Tree Farm Engineer's Report, Fiscal Year 2022-23 <br />