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HomeMy WebLinkAboutOB Res 18-02 2018-01-23RESOLUTION NUMBER OB 18-02 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, 2018 THROUGH DECEMBER 31, 2018, AND FROM JANUARY 1, 2019 THROUGH JUNE 30, 2019, 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, 2018 through December 31, 2018 ("Administrative Budget 18-19A") and from January 1, 2019 through June 30, 2019 ("Administrative Budget 18-19B," together with Administrative Budget 18-19A, 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 18- 19A, substantially in the form attached hereto as Exhibit A. Section 3. The Oversight Board hereby approves Administrative Budget 18- 19B, 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 2018-19 (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 Resolution Number OB 18-02 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 23rd day of January, 2018. AYES: Board Members: Deaton, Ingram, Hoang, Nien, Regnier NOES: Board Members: None ABSENT: Board Members: Massa-Lavitt, Thompson Chair, Oversight Board Secretary, Oversight Board STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Robin L. 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 23rd day gtd=0 f] - Secretary, Oversight Board 12W5.0 V2=133vi.dw EXHIBIT A SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 18-19A Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period July 1 - December 31, 2018 CATEGORYI The items luded 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 Adminidrative, Overhead and other Expenses ('Cooperative Agreemenr), by and between the Cay antl the Successor Agency, In theform approved by the Successor Agency Board pursuant to Resolution No. SA 12-10, adopted on Apil 9, 2012. pursuant to the Cooperative Agreement, the Successor Agency reimburses the Ory 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, once space, equipment, supplies, insurance and other services and facilities. PROPOSED ADMINISTMTVE FUNDING DESCRIPTION BUDGET SOURCE Staffing for the Successor Agency City Manager 285 Administrative Allowance City Clerk 165 Administrative Allowance Accountant 112 Administrative Allowance Accounting Technician - Accounts Payable 101 Administrative Allowance Accounting Technician - Payroll 95 Administrative Allowance Finance Manager 164 Administrative Allowance Director of Finance 324 Administrative Allowance SMSIno for the Oversight Boafd City Manager 158 Administrative Allowance City Clerk 165 Administrative Allowance Finance Manager 123 Administrative Allowance Director of Finance 216 Administrative Allowance Overhead Cost ServiorslFacilities 92 Administrative Allowance TOTAL 2,000 Exhibit A SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period July 1 - December 31, 2018 CATEGORY II Health & Way Code Section 30177 Ikl Rates: 'Provide administrative cost estimates, from 95 approved administrothm budget that are to be paid from property tax revenues deposited In the Redevelopment Property Tax Trust Fund, to the couMy auditor -controller for each six-month Flscalpedod' Listed below are the administrative cost items that the Successor Agency anticipates to pay from properlytax revenues deposited in Me Redevelopment Property Tax Trost Fund These Remi may Include amounts to be reimbursed by the Succamor Agency pursuant to the Coopemobe Agreement. Pursuant to Health and safely Cow section 34177IdIl111F1, contracts necessary for the administration and operation of the Successor Agency are enforceable obligations. Accordingly, amounts to be paid by Me 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 pmpedytax revenues deposited In the Redevelopment Property Tax Trust Fund. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 20,000 Administrative Allowance Trustee Fees 1,796 Administrative Allowance Arbitrage Analysis - Administrative Allowance - Administrative Allowance TOTAL 21,M CATEGORY III Casts allocable to particular projects are considered pad&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 Cooperatfve Agreement. PROPOSED ADMINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Stag - RPTTF Legal counsel - RPTTF Contract Expenses - RPTTF TOTAL EXHIBIT B SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET 18-19B Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 - June 30, 2019 CATEGOl The Items listed below include amounts to be reimbursed by the Successor Agency to the City of Seal Beach, pursuant to a CooperMlve Agreement for Advance and Reimbursement of Administrative, overhead and other Expenses ("Cooperative AgreemenC), by and between the City and the Successor Agency, in the form approved by the Successor Agency Board pursuaraw Resolution No. SA 32-10, adopted an April 9, 2012. Pursuant to the Cooperative Agreement, the Successor Agency reimburses the City for all costs advanced by the City for the administration add a terstion 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 Will PROPOSED ADMINISTMTVE FUNDING DESCRIPTION BUDGET SOURCE Still lna for the Successor Agency City Manager 285 Administrative Allowance City Clerk 165 Administrative Allowance Accountant 112 Administrative Allowance Accounting Technician- Accounts Payable 101 Administrative Allowance Accounting Technician - Payroll 95 Administrative Allowance Finance Manager 166 Administrative Allowance Diractor of Finance 326 Administrative Allowance Sullying for the Oversight Board Cly Manager 158 Administrative Allowance City Cleric 165 Administrative Allowance Finance Manager 123 Administrative Allowance Director of Finance 216 Administrative Allowance Castrated! Cost ServiceelFacibties 92 Administrative Allowance TOTAL 2,000 Exhibit B SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY ADMINISTRATIVE BUDGET Fiscal Period January 1 - June 30, 2019 CATEGORY II Health & Safety code Section 30177 (k) states:'provide administrative Cort 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 Rsaalperlod.- Usted below are the administrative cost items that the Successor Agency anticipatesto pay from property tax revenues deposited in the Redevelopment Property Tax Trust Fund These Items may include amounts M 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 e9uipment 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 corts from property tax revenues deposited In the Redevelopment Property Tax Trust Fund. PROPOSED ADNIINISTRATIVE FUNDING DESCRIPTION BUDGET SOURCE Legal counsel 20,000 Administrative Allowance Trudles Fees 1,2n Administrative Allowance Arbitrage Analysis - Administrative Allowance Administrative Allowance TOTAL 24,271 CATEGORY III Costs allocable to particular projects are considered part of the project costs. Listetl below are administrative costs Mat 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 AESAINISTRAMVE FUNDING DESCRIPRON BUDGET SOURCE Staf - RPTTF Legal counsel - RPTTF Contract Expenses - RPTTF TOTAL