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Home My WebLink AboutOB Res 13-02 2013-02-26 RESOLUTION NUMBER OB13-02 A RESOLUTION OF THE OVERSIGHT BOARD OF DIRECTORS FOR THE SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY APPROVING A PROPOSED ADMINISTRATIVE BUDGET FOR THE SIX-MONTH FISCAL PERIOD FROM JULY 1, 2013 THROUGH DECEMBER 31, 2013 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 34177(j), the Successor Agency to the City of Seal Beach Redevelopment Agency (the "Successor Agency") must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the Oversight Board for the Successor Agency (the "Oversight Board") for approval. B. There has been presented to this Board for approval a proposed administrative budget for the Successor Agency for the six-month fiscal period from July 1, 2013 through December 31, 2013 ("Administrative Budget 13-14A"). NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY, HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. The Oversight Board hereby approves the proposed Administrative Budget 13-14A substantially in the form attached hereto as Exhibit A. Section 3. The staff of the Successor Agency is hereby directed to provide the State Department of Finance ("DOF") written notice and information regarding the action taken by the Oversight Board in Section 2 of this Resolution. Such notice and information shall be provided by electronic means and in a manner of DOF's choosing. Section 4. The officers of the Oversight Board and staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution. PASSED, APPROVED AND ADOPTED by the Oversight Board at a meeting held on the 26th day of February , 2013. AYES: Board Members: 4.411f/., �.�a /.S% i i iL • NOES: Board Members: C tJ1 ABSENT: Board Members: ) AUAinrn I • e-y n^ / ABSTAIN: Board Members: 'f `,-fl,on, Ch��ighttBBoard� ATTEST: At r Sec etary, Oversight Board STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Linda Devine, Secretary to the Oversight Board, hereby certify that the foregoing resolution was duly adopted at a meeting of the Oversight Board, held on the 26th day of Febru-A , 2013. Sec etary, Oversight Board Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period July 1 -December 31,2013 CATEGORY The items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach,pursuant to a Cooperative Agreement for Advance and Reimbursement of Administrative,Overhead and other Expenses("Cooperative Agreement'),by and between the City and the Successor Agency,in the form approved by the Successor Agency Board pursuant to Resolution No.SA 12-10,adopted on April 9,2012. Pursuant t the Cooperative Agreement,the Successor Agency reimburses the City for all costs advanced by the City for the administration and operation of th Successor Agency,including but not limited to value of staff,consultants and legal counsel,office space,equipment,supplies,insurance and other services and facilities. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staffing for the Successor Agencv City Manager (8.00%) 9,923 Administrative Allowance Assistant City Manager (10.00%) 11,645 Administrative Allowance City Clerk (5.00%) 3,846 Administrative Allowance Accountant(2.00%) 945 Administrative Allowance Accounting Technician (2.00%) 782 Administrative Allowance Accounting Technician (1.00%) 351 Finance Manager (15.00%) 10,460 Administrative Allowance Director of Community Development(5.00%) 5,176 Administrative Allowance Director of Finance (10.00%) 9,850 Administrative Allowance Staffing for the Oversight Board City Manager (1.00%) 1,241 Assistant City Manager (1.00%) 1,164 Administrative Allowance City Clerk (2.00%) 1,539 Administrative Allowance Director of Community Development(1.00%) 1,035 Finance Manager (1.00%) 697 Director of Finance (1.00%) 985 Administrative Allowance Overhead Cost Services/Facilities - Administrative Allowance TOTAL 59,639 CATEGORY II Health&Safety Code Section 34177(k)states:"Provide administrative cost estimates,from its approved administrative budget that are to be paid from property tax revenues deposited in the Redevelopment Property Tax Trust Fund,to the county auditor-controller for each six-month fiscal period." Listed below are the administrative cost items that the Successor Agency anticipates to pay from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. Pursuant to Health and Safely Code Section 34177(d)(1)(F),contracts necessary for the administration and operation of the Successor Agency are enforceable obligations.Accordingly,amounts to be paid by the Successor Agency to third party vendors for equipment and supplies necessary for the administration of the Successor Agency and auditors,legal counsel and other consultants for services to the Successor Agency are listed as payments for enforceable obligations on the Recognized Obligation Payment Schedules.The Successor Agency anticipates to pay such costs from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 60,000 Administrative Allowance Trustee Fees 4,200 Administrative Allowance Arbitrage Analysis - Administrative Allowance Auditing Services 35,000 Administrative Allowance TOTAL 99,200 CATEGORY III Costs allocable to particular projects are considered part of the project costs. Listed below are administrative costs that are allocable to projects and not included in the tables above.These items may include amounts to be reimbursed by the Successor Agency pursuant to the Cooperative Agreement. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staff RPTTF Legal counsel RPTTF Contract Expenses RPTTF TOTAL