HomeMy WebLinkAboutSA Res SA12-06 2012-03-26 RESOLUTION NUMBER SA1 2-06
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY
AUTHORIZING BUDGET MODIFICATION NO.12-10-01
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
REVISED/
ADOPTED PROPOSED BUDGET(duff) EXPLANATION
DESCRIPTION ACCOUNT BUDGET BUDGET MODIFICATION FOR CHANGE
Successor Agency-Retirement Fund
Former RDA budget transfer to
Interest Expense 300-065-47999 132,005.00 - (132,005.00) Successor Agency
300-065 Total (132,005.00)
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 (268,787.00)
Successor Agency-Debt Service
Former RDA budget transfer to
Interest Expense 302-065-47999 - 132,005.00 132,005 00 Successor Agency
302-065 Total 132,005.00
Successor Agency-Tax Increment
Former RDA budget transfer to
ERAF/SERAF/Pass-thru 303-067-44500 - 149,787.00 149,787.00 Successor Agency
Former RDA budget transfer to
Transfers Out 303-067-47000 - 119,000.00 119,000.00 Successor Agency
303-067 Total 268,787.00
PASSED,APPROVED AND ADOPTED by the Seal Beach City Council at a regular meeting held on the
26th day of March .2012 by t e following vote:
AYES: Council Members a
NOES: Council Members (_
ABSENT. Council Members
ABSTAIN: Council Members /)74611/
Mayor
ATTE T. •
City Clerk
STATE OF CALIFORNIA
COUNTY OF ORANGE )
CITY OF SEAL BEACH }
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 SA12-06 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 26th day of March ,2012.
•
City Clerk