HomeMy WebLinkAboutCC AG PKT 2007-10-22 #K
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AGE N DA R E P 0 R T
DATE:
October 22, 2007
TO:
Honorable Mayor and City Council
THRU:
David N, Carmany, City Manager
':.
Teresa Gonzalez
Administrative Services Manager
FROM:
-.
SUBJECT: September 30, 2007 Parking In-Lieu Fund Unaudited Finance Reports
SUMMARY OF REOUEST:
Staff requests that the City Council receive and file the Parking In-Lieu unaudited finance
reports for the period ending September 30, 2007.
BACKGROUND:
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The Main Street Specific Plan, dated July 8, 1996, prepared by the City of Seal Beach
provided a long range vision and implementing actions for the preservation and
enhancement of downtown Seal Beach, The Specific Plan included a parking analysis in
the Specific Plan area. Based on the parking analysis, the 1994 parking demand and
supply was considered in relative balance, However, there was a need to provide
additional conveniently located parking to serve Main Street and to provide a base for
future parking need. The parking analysis also indicated that existing co=erciallots on
Main Street have inadequate room for new parking, and the only solution to parking
needs is a City in-lieu parking program.
The Specific Plan established the requirement of participation in the in-lieu parking
program in the event a use cannot provide the off-street parking spaces required by
Section 28-1255 and Section 28-1256 of the Specific Plan, and such use shall not be
established unless there is full compliance ~th all the requirements of the Main Street In-
Lieu Parking Program. The Specific plan identified that the funds collected from the In-
Lieu Parking Program sha11 be deposited in a segregated City In-Lieu Parking Program
fund. The City complied and established a segregated deposit account.
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After careful consideration, Council has determined that a separate Special Revenue Fund
is better suited for the accounting of the parking in-lieu funds, Council approved
Resolutions Number 5567, dated June 25, 2007, where Section 6 established the Park In-
Lieu Special Revenue Fund. & of July 1, 2007 the Parking In-Lieu Special Revenue
Fund was established. All funds in the deposit account have been transferred into the
Parking In-Lieu Fund. The accompanying September 30, 2007 Parking In-Lieu Fund
Agenda Item 1\
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unaudited finance reports disclose a cash balance in the amount of $51,839, an accounts
receivable balance in the amount of $101,000 and a fund balance in the amount of
$152,939.
FISCAL IMPACT:
None
RECOMMENDATION;
,
That the City Council receive and file the unaudited finance reports for the Parking In-
Lieu Fund for the period ending September 30, 2007.
~~~
Administrative Services Manager
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David N. Carmany
City Manager
Attachments:
1. Resolutions Number 5567
2. Parking In-Lieu Fund Balance Sheet as of September 30, 2007
3. Parking In-Lieu Statement of Revenue vs. Expenses for the period ending
September 30, 2007.
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Agenda ltem_
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IIE!lOL'll'I.1ONt\IIIJIBIt ~
A IDI2ICJLll'I1ON OF TBB crrr alCNCIL OF TBB CITY OF SEAL BE&.CII
CALIlIOJIMIA, ADOPmlG TJIE n&CAL YIWI. 211II'7'" AND :IIIIIIIIIt DI'ICIlA'l1NG BtlIlGET
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AND A'Il'l'BORIZING APPIIOPRIA'I1ON1 BY 1l'DND, AS AMBNDB:D
TIm ClTY COtlliCIL OF TBE ClTY or SB.U. BACH DOES .........r KBSOLVEI
_1 To Idopl d10 PlIcal y....2111712lll111 ml2OlllIIII!I OporalIllllhllptml CIIjIIIa\ I>...,..w........
for !be Oty ~ Soa\ IIeocII mllbe Soa\ lIoocb ".'-.,.'.,...- AFJI:Y for Ibe llocaI,...
_ ~'I Jul, 1, 2lllI7 mI ....... JIDIll3D, 2lllI!l. SoI/I badIoa ID CCIIIII'lIIIIIpCIllIIIIIreIIll
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; A..__" lI_btolflmd
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Py 2OD71llB l'Y 2ODI/Il!l
lJenI:ral Pond S 25,795,226 $ 23,373,117
-1JcIlIIq 1S4,500 ll5D,DDO
......1'mfcIlwo _ IoPodorll 14.DOO
Suppw.-ullAw U",_GrIDt 19,L50 151,450
PalkJM....w.....mtFuad. 5O,llClO
Air Quo\iIf J:mpnnoeIIaItFuad 3IJ5O 31,850
ndolaDdl Beocb Pond. 1,B:l7,soo 1,643,150
_au TaPond 475,llClO 475,DDO
M_MPond 4lIO,DOO 4lXl,000
RabertI~UrlllnOpoa~PImd 13D,DDO
Curumunlty DDveIapmoal Block ~p1 \ 2OO,llClO
Police 0rmr5 ';; 22,234 22,234
el CIoep CIlut . ;. 13,000
TlolIIe CalpIIIon IlelIeI'Pond, . 3SO.DDll 35O,0Illl
CamnnmII:y PldUII.. DIsIIIct 2lJ02.01 i 25,DIIlI 25,Doo
'"""-nnllf 1'IdlId.. DIsIrk:t :ztlD2.m .. 143,llClO 143,ll00
""","",nllf FodUli.. DIsIIIct 2IIlI5-O 1 1I0,llClO 1l0,DlIll
W_ OponIionII!nIr:rpriso:Fwll 3.SI7,1i1ill 3,733,970
Sewer 0pcnII.... BnleIprisaPund 773,84D 11I3,140
80_ CllpIlo1I!1dapd1e Pund (NllIIll) Zl2,921 2D8,67D
Caplllll PmjocIII Pond 8,137,25D 1,725,llClO
RDA-Rivwfr=t Pn:d1lCl AnlaJ..-1:
t.IDdomle Hoa&ins Pund 564,llClO :zM,SOII
RDA-Riomr-PIq!IlCI Anla 29D,liSO 42,DSO
RDA.aJvarfrum Pn:d1lCl Anla Debt SmvIcel'wHl 734,100 735,4DlJ
RDA.aJ_Pit!lIlCIAnla ,._Pund 1,621,soo . 1,646,5DD
Approprilli_ S 45,811,811 S 36.D81,D31
(N.... I) TncIDdoI S...... erP"".,~,...lIlot om tlll:llIdod allllllli..-.
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Inl'YZ0D711l1.
_un 3 T\uIlalJ copiDd praJoct oppmpdaIIlII baIaa... fram Py 2DD6ID7 om c:onlod.l'arwmI
for... ill I'Y ZOD7I1l1.
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.... _ fimctionIllld _Ill _lIIIIa1I= willl PiICll PuIiI:y, alnnr; a mc:h
InmIfen dD nut illC.....1bo IIllDp1CIlIlllllllll bud.pt IppIOpriIliDIIL
_ 5 TblII for IiICll porlllllllna: J_ 3D. 2lXl81bo DIy of Scll_ .........h_1II
~_llmll of 53L1I0,6117, lbercby~ COfIljlIilllCO with
Arlicla XDIB ~ tho _ CDnIllblll.... .
SecIIon Ii EotabIish. Palk1i>-licu Special -... Pund
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_
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General Ledger
Balance Sheet
User: tgonzalez
Printed: 10104I2007 - 4:30 P
Period Ending 3
Fiscal Period 3, 2008
City of Seal Beach
Description
Amount
Pllrldng In-Lieu Fund
Assets
Cash In Bank _
Accounts Receivable ;
51,S39.22
101,100.00
Total Assets
152,939.22
Fund-Bolance
Fund Bolance Undesignated
134,839.22
Total Fund-Balance
134,839.22
Retained Earnings:
IS,I00.00
Total Fund Balance and Retained Earnings:
152,939.22
Total Liabilities, Fund-Balance and Retained Earnings:
152,939.22
GL - Balance Sheet ( 10104I2007 - 4:30 PM)
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