HomeMy WebLinkAboutOB Res 14-06 2014-09-29 RESOLUTION NUMBER OB14-06
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 THROUGH DECEMBER 31,
2014 AND TAKING CERTAIN RELATED ACTIONS
RECITALS:
... A. Pursuant to Health and Safety Code Section 341770), 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.
R There has been presented to this Board for approval a proposed
administrative budget for the Successor Agency for the six-month fiscal period from
January 1,2015 through June 30, 2015(Administrative Budget 14-15B).
NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO
FHE 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 14-15B 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
29th day of September ,2014.
AYES: Board Member .
1
NOES: Board Members: '}
ABSENT: Board Members: �'�
ABSTAIN: Board Members:
Chair,Oversight Board/
ATTEST: r
Secretary,Over ight 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 29th day
of September , 2014. 1
L"Xv
ecr tary, Ove fight Board
Exhibit A
SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY
ADMINISTRATIVE BUDGET
Fiscal Period January 1-June 30,2015
CATEGORYI
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'),byand between the City and the
Successor Agency,in the form approved bythe Successor Agency Board pursuantto Resolution No.SA 12-10,adopted on April 9,2012.Pursuant
to the Cooperative Agreement,the Successor Agency reimburses the City for all costs advanced by the City for the administration and operation of
the 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 forthe Successor Agency
City Manager (1.00%) 1,445 Administrative Allowance
City Clerk (2.00%) 1,715 Administrative Allowance
Accountant(1.00%) 504 Administrative Allowance
Accounting Technician (1.00%) 359 Administrative Allowance
Accounting Technician (1.00%) 729 Administrative Allowance
Finance Manager (2.00%) 1,475 Administrative Allowance
Director of Finance (2.00%) 2,063 Administrative Allowance
Staffing for the Oversight Board
City Manager (0.250%) 361 Administrative Allowance
City Clerk (0.50%) 429 Administrative Allowance
Finance Manager (0.25%) 184 Administrative Allowance
Director of Finance (0.50%) 516 Administrative Allowance
Overhead Cost
Services/Facilities 320 Administrative Allowance
TOTAL 10,100
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-controllerfor 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 Trost 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 bythe Successor Agencyto 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
Legalcounsel 40,000 Administrative Allowance
Trustee Fees 1,823 RPTTF
Arbitrage Analysis 2,250 RPTTF
TOTAL 44,073
CATEGORY III
PROPOSED
ADMINISTRATIVE FUNDING
DESCRIPTION BUDGET SOURCE
Staff - RPTTF
Legal counsel - RPTTF
Contract Expenses - RPTTF
TOTAL