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Home My WebLink AboutSA Res SA12-05 2012-02-27RESOLUTION NUMBER SA 12 -05 A RESOLUTION OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY AUTHORIZING BUDGET MODIFICATION NO. 12 -08 -02 FOR FISCAL YEAR 2011 -12 BUDGET MODIFICATION IN LIGHT OF THE DISSOLUTION OF THE SEAL BEACH REDEVELOPMENT AGENCY (ABX1 26) WHEREAS, the fiscal year 2011 -12 budget requires budgetary modifications as outlined below: THE GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY DOES HEREBY RESOLVE. Section 1. On February 1, 2012, the Seal Beach Redevelopment Agency (RDA) dissolved by operation of law due to AB X1 26. All of the RDA's authority, rights, powers, duties, assets and obligations were transferred to the Successor Agency to the Seal Beach Redevelopment Agency ( "Successor Agency') Accordingly, the Board hereby makes the following adjustments and modifications to the Budget for FY 2011 -12 DESCRIPTION REVISED/ ADOPTED PROPOSED BUDGET (dif() ACCOUNT BUDGET BUDGET MODIFICATION EXPLANATION FOR CHANGE RDA - Low Mod Fund Interest On Investments 20 % Set Aside Um Hsng Contract Prof. Svcs Low /mod Housing Exp Legal Services - Low /mod Rda RDA - Riverfront Fund Interest On Investments Transfers In Part-time Pars Retirement Medicare Insurance Fica Expense Membership And Dues Training And Meetings Contract Prof. Svcs Property Acquisitions Lease Payments -rda Riverfront Interest Expense -rda Riverfron Legal Services RDA - Debt Service Fund Interest On Investments Transfers In Contract Prof Svcs - Rda Debt Interest Expense RDA - Tax Increment Fund Property Taxes Secured Property Taxes Unsecured Homowners Exemption Secured/unsecured Prior Year Property Tax Other Supplemental Tax Seclunsec. Interest On Investments Property Rental Contract Professional Service Property Maintenance Fee Property Tax Admin Fee Low /mod Housing 20% Set Aside Transfers Out 061 - 000 -30420 5,000.00 2,713.90 061 - 000 - 38555 446,80000 258,673.74 061- 081 -44000 150,000.00 60,747.62 061- 081 -45050 710,00000 234,031.38 061- 081 -49800 20,000 00 19,328.43 RDA Agency dissolution, transfer (2,286.10) to Successor Agency. RDA Agency dissolution, transfer (188,126.26) to Successor Agency. RDA Agency dissolution, transfer (89,252 38) to Successor Agency. RDA Agency dissolution, transfer (475,968.62) to Successor Agency. RDA Agency dissolution, transfer (671.57) to Successor Agency. 063- 000 -30420 16,000.00 7,830.80 (8,169.20) 063 -000 - 31500 457,200.00 (457,200.00) 063 - 081 -40004 1,800.00 900.00 (900.00) 063- 081 -40013 31.20 31.20 063 - 081 -40017 100.00 61.00 (39.00) 063 - 081 -40019 100.00 111.60 11 60 063 - 081 -40300 2,200.00 (2,200.00) 063- 081 -40400 2,000.00 580.00 (1,420.00) 063 -081 - 44000 35,000.00 28,772.93 (6,227.07) 063 - 081 -47020 1,100,000.00 (1,100,000.00) 063 -081 -47444 20,600.00 15,227.64 (5,372.36) 063 -081 -47999 2,600.00 1,989.31 (610.69) 063 - 081 -49800 105,000.00 16,732.89 (88,267.11) 065- 000 -30420 100.00 38.68 065- 000 -31500 731,000.00 718,228.55 065- 081 -44000 6,500.00 2,073.20 065- 081 -47999 274,500.00 264,402.50 RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer (61.32) to Successor Agency. RDA Agency dissolution, transfer (12,771.45) to Successor Agency. RDA Agency dissolution, transfer (4,426.80) to Successor Agency. RDA Agency dissolution, transfer (10,097.50) to Successor Agency. 067- 000 -30001 2,118,200.00 1,229,456.06 (888,743.94) 067- 000 -30002 57,100.00 40,810.60 (16,289.40) 067- 000 -30003 15,700.00 7 555 81 (8,144.19) 067 - 000 -30004 6,900 00 (6,900.00) 067 - 000 -30005 19,700.00 9,864 12 (9,835.88) 067 - 000 -30006 16,600.00 5,682.11 (10,917.89) 067 - 000 -30420 4,500.00 888.03 (3,611.97) 067- 000 -31650 900.00 425 34 (474 66) 067 - 081 -44000 6,000.00 (6,000.00) 067- 081 -44002 2,000.00 (2,000.00) 067- 081 -44005 25,000.00 (25,000.00) 067- 081 -45050 446,000 00 258,673.74 (187,326.26) 067- 081 -47000 1,188,200.00 718,228.55 (469,971.45) Successor Agency - Retirement Fund Contract Prof. Svcs Lease Payments -rda Riverfront Interest Expense -rda Riverfron Legal Services 300 -063 Total Interest Expense 300 -065 Total 300 - 063 -44000 1,805,850.00 1,805,850.00 300 -063 -47444 5,400.00 5,400.00 300- 063 -47999 600.00 600.00 300 -063 -49800 74,800.00 74,800.00 300- 065 -47999 1,886,650.00 RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. RDA Agency dissolution, transfer to Successor Agency. Former RDA budget transfer to Successor Agency Former RDA budget transfer to Successor Agency Former RDA budget transfer to Successor Agency Former RDA budget transfer to Successor Agency Former RDA budget transfer to 132,005.00 132,005 00 Successor Agency 132,005.00 1 1 1 1 1 REVISED/ ADOPTED PROPOSED BUDGET (diff) EXPLANATION DESCRIPTION ACCOUNT BUDGET BUDGET MODIFICATION FOR CHANGE Former RDA budget transfer to ERAF /SERAF /Pass -thru 300 -067 -44500 149,787.00 149,787.00 Successor Agency Former RDA budget transfer to Transfers Out 300- 067 -47000 119,000.00 119,000.00 Successor Agency 300 -067 Total Successor Agency - Low /Mod Fund Contract Prof Svcs 301- 061 -44000 Low /mod Housing Exp 301- 061 -45050 Legal Services - Low /mod Rda 301 - 061 -49800 301 -061 Total 268,787.00 Former RDA budget transfer to 37,500.00 37,500.00 Successor Agency Former RDA budget transfer to 34,630.00 34,630.00 Successor Agency Former RDA budget transfer to 2,600.00 2,600.00 Successor Agency 74,730.00 PASSED, APPROVED AND ADOPTED by the Seal Beach City Council at a regular meeting held on the 27th day of February . 2012 • the following vote: l �� AYES' Council Members NOES: Council Members ABSENT: Council Members ABSTAIN: Council Members STATE OF CALIFORNIA } COUNTY OF ORANGE } CITY OF SEAL BEACH } Weil/ Mayor I, Linda Devine, City Clerk of the City of Seal Beach, California, do hereby certify that the foregoing resolution is the original copy of Resolution Number SA 12 -05 on file in the office of the office of the City Clerk, passed, approved, and adopted by the Seal Beach City Council at a regular meeting held on the 27th day of February 2012.