HomeMy WebLinkAboutSA2 RESOLUTION NO. 12-07, JUL-DEC 2012-13 BUDGETMEETING DATE: JULY 3, 2012
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: PAMELAARENDS -KING, FINANCE DIRECTOR
SUBJECT: SUCCESSOR AGENCY RESOLUTION NO. 12 -07 APPROPRIATING
FUNDS FOR THE SUCCESSOR AGENCY FOR JULY THROUGH
DECEMBER OF FISCAL YEAR 2012/2013
SUMMARY:
The City Council acting as the Successor Agency to the Tustin Community
Redevelopment Agency is requested to approve the attached resolution adopting the
budget for the Successor Agency for July through December of Fiscal Year 2012/2013.
RECOMMENDATION:
Adopt Successor Agency Resolution No. 12 -07, adopting the Successor Agency
budget and appropriating $9,737,515 from the anticipated revenues of the
Agency for July through December of fiscal year 2012/2013.
FISCAL IMPACT:
The adoption of Successor Agency Resolution No. 12 -07 will establish the anticipated
expenditures for the Agency for July through December of fiscal year 2012/2013 at
$9,737,515. The Successor Agency received $6,122,195 from the Redevelopment
Property Tax Trust Fund on June 7, 2012. The difference between revenues and
expenditures will be added to the Recognized Obligation Payment Schedule (ROPS) for
January through June of fiscal year 2012/2013.
BACKGROUND:
The Proposed 2012/2013 City of Tustin Program and Financial Plan was presented to
the City Council at the budget workshop held on June 19, 2012. At the workshop, the
City Council reviewed key elements of the draft budget. The Council did not direct staff
to make any changes to the Proposed Budget.
Agenda Report
July 3, 2012
Successor Agency Budget FY 2012/13 (July — December)
Page 2 of 2
The proposed budget for FY 2012/2013 included a section for the Successor Agency to
the Tustin Community Redevelopment Agency that was formed on February 1, 2012
with the dissolution of Tustin Community Redevelopment Agency (RDA) by AB X1 26.
The Successor Agency can only pay enforceable obligations that are on the
Recognized Obligation Payment Schedule (ROPS) that have been approved by the
Oversight Board and State Department of Finance (DoF). The ROPS are for six (6)
month periods; therefore, the appropriation would be for the July through December
period of fiscal year 2012/2013.
1Oea4z4L
Pamela Aren s -King
jr Finance Diredtor
Attachment
Successor Agency Resolution No. 12 -07
Sean Tran
Administrative ervices Manager
SUCCESSOR AGENCY
TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
RESOLUTION NO. 12 -07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, CALIFORNIA, ACTING AS SUCCESSOR
AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY, ADOPTING THE BUDGET
AND APPROPRIATING FROM THE ANTICIPATED
REVENUES OF THE SUCCESSOR AGENCY FOR THE
FISCAL YEAR 2012 -2013
WHEREAS, in accordance with Section 1415th of the Tustin City code, the City
Manager has prepared and submitted to the City Council a Proposed Annual Budget for
the 2012 -2013 fiscal year, beginning July 1, 2012; and
WHEREAS, the City Council, as the legislative body of the Successor Agency to
the Tustin Community Redevelopment Agency, has reviewed this proposed budget;
WHEREAS, the Successor Agency is limited to paying enforceable obligations that
have been approved by the Oversight Board and State Department of Finance on the
Recognized Obligation Payment Schedule;
NOW, THEREFORE, the City Council of the City of Tustin acting as the
Successor Agency to the Tustin Community Redevelopment Agency hereby resolves,
determines, and orders as follows:
SECTION 1. A certain document is on file in the office of the City Clerk of the City
of Tustin, being marked and designated "City of Tustin Proposed Budget 2012 - 2013 ".
Said document, as prepared by the City Manager and reviewed and adjusted by the
Commissioner, is hereby adopted for the fiscal year commencing July 1, 2012;
SECTION 2. The Recognized Obligation Payment Schedule for July through
December 2012 has been approved by the Oversight Board and State Department of
Finance and posted on the City of Tustin website (www.tustinca.org);
SECTION 3. The following sums of money are hereby appropriated from the
anticipated revenues of the Successor Agency to the Tustin Community Redevelopment
Agency for the 2012 -2013 fiscal year.
Successor Agency Resolution 12 -07
Page 1 of 3
SUCCESSOR AGENCY
Approved Recognized Obligation Payment Schedule for July through December 2012:
Personnel
Operations
Debt Service
TOTAL
$ 299,652
3,317,951
6,119,912
$ 9,737,515
Successor Agency Resolution 12 -07
Page 2 of 3
PASSED AND ADOPTED at a regular meeting of the Successor Agency to the Tustin
Community Redevelopment Agency held on the 3`d day of July, 2012.
JOHN NIELSEN,
Mayor on behalf of the Successor Agency
ATTEST:
PAMELA STOKER,
City Clerk on behalf of the Successor Agency
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN 1
I, Pamela Stoker, City Clerk of the City of Tustin, California, acting as the Successor
Agency for the Tustin Community Redevelopment Agency, do hereby certify that the
whole number of the members of the Successor Agency is five; that the above and
foregoing Resolution No. 12 -07 was duly assessed and adopted at a regular meeting
held on the 3`d day of July, 2012, by the following vote:
AGENCYMEMBER AYES:
AGENCYMEMBER NOES:
AGENCYMEMBER ABSTAINED:
AGENCYMEMBER ABSENT:
PAMELA STOKER,
City Clerk on behalf of the Successor Agency
Successor Agency Resolution 12 -07
Page 3 of 3