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HomeMy WebLinkAboutOB Res 16-01 2016-01-26RESOLUTION NUMBER OB16 -01 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY APPROVING PROPOSED ADMINISTRATIVE BUDGETS FOR THE SIX - MONTH FISCAL PERIODS FROM JULY 1, 2016 THROUGH DECEMBER 31, 2016, AND FROM JANUARY 1, 2017 THROUGH JUNE 30, 2017, AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 341770), the Successor Agency to the 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 of the Successor Agency (the "Oversight Board ") for approval. B. The Successor Agency's proposed administrative budgets for the six - month fiscal periods from July 1, 2016 through December 31, 2016 ( "Administrative Budget 16 -17A ") and from January 1, 2017 through June 30, 2017 ( "Administrative Budget 16 -17B," together with Administrative Budget 16 -17A, the "Administrative Budgets ") have been presented to this Oversight Board for approval. NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE 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 Administrative Budget 16- 17A, substantially in the form attached hereto as Exhibit A. Section 3. The Oversight Board hereby approves Administrative Budget 16- 17B, substantially in the form attached hereto as Exhibit B. Section 4. The 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 and the Administrative Budgets, including making any adjustment to the proposed Administrative Budgets to make them consistent with the Successor Agency's Recognized Obligation Payment Schedule for fiscal year 2016 -17 (as such Recognized Obligation Payment Schedule is approved by the State Department of Finance). Section 5. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or 12805- 0001 \1916186v1.doc Resolution Number OB16 -01 application, and to this end, the provisions of this Resolution are severable. The Oversight Board hereby declares that it would have adopted this Resolution regardless that one or more portion may be determined to be invalid. PASSED, APPROVED AND ADOPTED by the Oversight Board at a meeting held on the 26th day of January, 2016. AYES: Board Members: 1 rn, . L Vlon 4 � 4�0+I NOES: Board Members: Norte ABSENT: Board Members:T >amp�Pn C Chair, Ovv Ig t o r �. Oversight Board 12805- 0001 %1916186v1.doc Resolution Number 0616 -01 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Robin Roberts, 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 gf and ary 2 43t Secretary, Oversight Board 12805- 0001 \19161860 doe EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 16 -17A 12805 -0001 \1916186v1. doc Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period July 1 - December 31, 2016 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'), 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 Alen 19, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses the City for all costs advanced by the City for the a dministratlon 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 for the Successor Agency City Manager 861 Administrative Allowance City Clerk 496 Administrative Allowance Accountant 320 Administrative Allowance Accounting Technician - Accounts Payable 426 Administrative Allowance Accounting Technician - Payroll 213 Administrative Allowance Finance Manager 1,324 Administrative Allowance Director of Finance 2,047 Administrative Allowance Staffing for the Oversight Board City Manager 431 Administrabve Allowance City Clerk 83 Administrative Allowance Finance Manager 147 Administrative Allowance Director of Finance 409 Administrative Allowance Overhead Cost Services/Facilities 644 Administrative Allowance TOTAL 7,400 Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period July 1 - December 31, 2016 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 parry 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 50,000 Administrative Allowance Trustee Fees 1,823 Administrative Allowance Arbitrage Analysis - Administrative Allowance Administrative Allowance TOTAL 61,823 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 EXHIBIT B SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 16 -17B 12805 -0001 \1916186v1.doc Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 -June 30, 2017 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'), 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 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, egupmenq supplies, insurance and other services and facilities. PROPOSED _ _ ADMINISTRATIVE- FUNDING DESCRIPTION BUDGET SOURCE Staffing for the Successor Agency City Manager 861 Administrative Allowance City Clerk 496 Administrative Allowance Accountant 320 Administrative Allowance Accounting Technician- Accounts Payable 426 Administrative Allowance Accounting Technician - Payroll 213 Administrative Allowance Finance Manager 1,324 Administrative Allowance Director of Finance 2,047 Administrative Allowance Staffing for the Oversight Board City Manager 431 Administrative Allowance City Clerk 83 Administrative Allowance Finance Manager 147 Administrative Allowance Director of Finance 409 Administrative Allowance Overhead Cost Services/Facilities 644 Administrative Allowance TOTAL 7,400 Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 -June 30, 2017 CATEGORYII Health & Safety Cade 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 a nticipates to pay from property tax revenues deposited inthe 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 say such casts from property tax revenues deposited in the Redevelopment Property Tax Trust Fund. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 50,000 Administrative Allowance Trustee Fees 4,073 Administrative Allowance Arbitrage Analysis - Administrative Allowance - Administrative Allowance TOTAL 54,073 CATEGORY 111 Costs allocable to particular projects are considered part of the project costs. Listed below are administrative casts that are allocable to projects and not included in the tables above. These items may include amounts to be reimbursed by the 5u ccessor Agency pursuant to the Cooperative Agreement. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Staff RPTTF Legal counsel - RPTTF Contract Expenses - RPTTF TOTAL