HomeMy WebLinkAboutRDA AG PKT 2011-06-13 #4 REDEVELOPMENT AGENCY
AGENDA STAFF REPORT
DATE: June 13, 2011
TO: Honorable Chair and Agency Members
THRU: Jill R. Ingram, Acting Executive Director
FROM: Robbeyn Bird, Director of Administrative Services /City Treasurer
SUBJECT: ADOPTION OF THE 2011/12 REDEVELOPMENT
AGENCY BUDGET
SUMMARY OF REQUEST:
Staff requests the adoption of Resolution No. 11 -06 adopting the annual
Redevelopment Agency Budget for Fiscal Year 2011/2012.
BACKGROUND AND ANALYSIS:
The Redevelopment Agency members met jointly with the City for several budget
workshops throughout April and in the beginning of May to review and solicit
public input on the Proposed Budget. Agency members did not make any
recommendations for changes to the proposed budget.
FINANCIAL IMPACT:
Total expenditures for Fiscal Year Ending 2011/2012 are $4,547,600 including
$880,000 in the Low & Moderate Income Fund. The use of reserves in the
redevelopment funds is necessary to finance redevelopment operations for the
coming year.
RECOMMENDATION:
Staff recommends the Agency Members adopt Resolution No. 11 -06 approving
the Operating Budget of the Redevelopment Agency for Fiscal Year 2011/2012.
SUBMITTED BY: NOTED AND APPROVED:
fi:vvei '�� 41 .E k m
Robbe Bird, CPA g7 . Ingram,
Director of Administrative Services/ Acting Executive 1-
9 ctor
City Treasurer
Agenda Item 4
RESOLUTION NUMBER 1 -06
A RESOLUTION OF THE SEAL BEACH REDEVELOPMENT
AGENCY ADOPTING THE FISCAL YEAR 2011/12 BUDGET AND
APPROVING APPROPRIATIONS BY FUND
THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH DOES
HEREBY RESOLVE:
SECTION 1. To adopt Fiscal Year 2011/12 budget for the operation of and
capital improvements for the Seal Beach Redevelopment Agency for the fiscal
year commencing July 1, 2011 and ending June 30, 2012. Said budget to control
expenditures in the following amounts which reflect interfund transfers and
charges:
APPROPRIATIONS BY FUND
Fund FY 2011/12
RDA- Riverfront Project Area Low & Mod Housing Fund 880,000
RDA Riverfront Project Area 1,269,400
RDA Riverfront Project Area Debt Service Fund 731,000
RDA Riverfront Project Area Tax Increment Fund 1,667,200
SECTION 2. That all encumbrances from FY 2010/11 are re- appropriated for
continued use in FY 2011/12.
SECTION 3. That the Executive Director is hereby authorized to make
appropriation transfers within and between functions and programs, in
accordance with Fiscal Policy, as long as such transfers do not increase the
adopted annual budget appropriations.
PASSED, APPROVED AND ADOPTED by the Redevelopment Agency of the
City of Seal Beach this 13th day of June , 2011 by the following vote:
AYES: Agency Members
NOES: Agency Members
ABSENT: Agency Members
Chairman
ATTEST:
Secretary/City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Linda Devine, City Clerk of the City of Seal Beach, Califomia, do hereby certify
the following resolution is the original copy of Resolution Number 11 -06 on file
in the office of the City Clerk, passed, approved, and adopted by the
Redevelopment Agency of the City of Seal Beach at a regular meeting held on
the 13th day of June , 2011.
Secretary/City Clerk