New Accounting Requirement for Building Inspection Fee Revenue and Expenditures of That Revenue

​An item in the 2018 budget bill (S.L. 2018-5, Section XX) requires local governments to specifically track building inspection fee revenue and the expending of that revenue.  Cities and counties will report the revenue and related expenditures on the AFIR beginning with the report due for June 30, 2019 (S.L. 2018-29, Section 4.5.(a)) clarifies that this requirement goes into effect as of June 30, 2019).  There will be a specific section on the AFIR for this information.  Units should begin tracking this data as of July 1, 2018, in such a manner that will facilitate this reporting requirement at June 30.