The Fiscal Surety Office accepts, monitors, and releases fiscal surety payments for improvements to environmental, health, safety controls, and public infrastructure. The amount of fiscal surety posted shall equal the estimated cost for the City to do the work for which the fiscal was required.
The City requires a Subdivision Construction Agreement (SCA) which will be prepared for you by Fiscal Surety staff. However, staff will need the following information before they can proceed with your request:
The approved fiscal estimate from the appropriate Drainage Reviewer
Property Owner (from the deed)
Property Owners address
Property Owners Signature Block (Who will be signing and their title)
The SCA will have to be signed and notarized by the owner.
Once the SCA is completed, it will have to be signed and notarized by the owner. Additionally, a Title Search (Lien Search), metes & bounds of the property will be required. If there are liens on the property, a lien holders consent form must be completed.
Three forms of fiscal are accepted:
Check made payable to The City of Austin or a wire transfer. If posting by wire transfer, please notify the Fiscal Surety Office at email@example.com, otherwise it will not be processed. Please include as much reference information (date, dollar amount, bank name, etc.).
If a property is sold, it is the seller’s responsibility to negotiate the fiscal replacement with the buyer. The buyer can replace the seller’s fiscal in any of the above acceptable forms of payment. Once the acceptable replacement is received the original fiscal will be released.
How is fiscal released?
The City inspector has the authority to release fiscal. The Fiscal Office cannot release fiscal without approval from the appropriate inspector or City staff.