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Home My WebLink About08 SA RES 13-01 ADOPTING JULY-DEC BUDGET FY 2013/14Agenda Item 8 Reviewed: AGENDA REPORT City Manager Finance Director MEETING DATE: JUNE 18, 2013 TO: JEFFREY C. PARKER, CITY MANAGER SUBJECT: SUCCESSOR AGENCY RESOLUTION NO. 13 -01 APPROPRIATING FUNDS FOR THE SUCCESSOR AGENCY FOR JULY THROUGH DECEMBER OF FISCAL YEAR 2013/2014 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 2013/2014. Adopt Successor Agency Resolution No. 13 -01, adopting the Successor Agency budget and appropriating $5,144,447 from the anticipated revenues of the Agency for July through December of fiscal year 2013/2014. FISCAL IMPACT: The adoption of Successor Agency Resolution No. 13 -01 wil expenditures for the Agency for July through December of $5,144,447. The Successor Agency received $5,144,447 Property Tax Trust Fund on June 6, 2013. CA '@'• I establish the anticipated fiscal year 2013/2014 at from the Redevelopment The Proposed 2013/2014 City of Tustin Program and Financial Plan was presented to the City Council at the budget workshop held on June 6, 2013. At the workshop, the City Council reviewed key elements of the proposed budget. The City Council did not direct staff to make any changes to the Proposed Budget. Agenda Report June 18, 2013 Successor Agency Budget FY 2013/14 (July — December) Page 2 of 2 The proposed budget for FY 2013/2014 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 2013/2014. In September, staff will return to the City Council for the approval of the ROPS for January through June 2014 (ROPS 13-14B), which is due to the State Department of Finance on October 1, 2013. J e: Pamela Arends-King Finance Director Attachment Successor Agency Resolution No. 13-01 Sean Tran Administrative Services Manager SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 13-01 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 2013-2014 WHEREAS, in accordance with Section 1415 of the Tustin City code, the City Manager has prepared and submitted to the City Council a Proposed Annual Budget for the 2013-2014 fiscal year, beginning July 1, 2013; 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 2013-2014". Said document, as prepared by the City Manager and reviewed and adjusted by the Council, is hereby adopted for the fiscal year commencing July 1, 2013; SECTION 2. The Recognized Obligation Payment Schedule for July through December 2013 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 2013-2014 fiscal year. Successor Agency Resolution 13-01 Page 1 of 3 SUCCESSOR AGENCY Approved Recognized Obligation Payment Schedule for July through December 2013 paid from Redevelopment Property Tax Trust Fund: Administrative Cost Allocation $ 250,000 Personnel 0 Operations 261,365 Debt Service 4,633,082 TOTAL Successor Agency Resolution 13 -01 Page 2 of 3 $ 5,144,447 PASSED AND ADOPTED at a regular meeting of the Successor Agency to the Tustin Community Redevelopment Agency held on the 18th day of June, 2013. ELWYN A. MURRAY, Mayor on behalf of the Successor Agency ATTEST: JEFFREY C. PARKER, City Clerk on behalf of the Successor Agency STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF TUSTIN 1, Jeffrey C. Parker, 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. 13-01 was duly assessed and adopted at a regular meeting held on the 18TH day of June, 2013, by the following vote: AGENCYMEMBER AYES: AGENCYMEMBER NOES: AGENCYMEMBER ABSTAINED: AGENCYMEMBER ABSENT: JEFFREY C. PARKER, City Clerk on behalf of the Successor Agency Successor Agency Resolution 13-01 Page 3 of 3 Agenda Report June 18, 2013 Successor Agency Budget FY 2013/14 (July — December) Page 2 of 2 The proposed budget for FY 2013/2014 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 2013/2014. In September, staff will return to the City Council for the approval of the ROPS for January through June 2014 (ROPS 13 -14B), which is due to the State Department of Finance on October 1, 2013. Pamela Arends -King Finance Director Attachment Successor Agency Resolution No. 13 -01 Sean Tran Administrative Services Manager SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO. 13-01 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 2013-2014 WHEREAS, in accordance with Section 1415 of the Tustin City code, the City Manager has prepared and submitted to the City Council a Proposed Annual Budget for the 2013-2014 fiscal year, beginning July 1, 2013; 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 2013-2014". Said document, as prepared by the City Manager and reviewed and adjusted by the Council, is hereby adopted for the fiscal year commencing July 1, 2013; SECTION 2. The Recognized Obligation Payment Schedule for July through December 2013 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 2013-2014 fiscal year. Successor Agency Resolution 13-01 Page 1 of 3 SUCCESSOR AGENCY Approved Recognized Obligation Payment Schedule for July through December 2013 paid from Redevelopment Property Tax Trust Fund: Administrative Cost Allocation Personnel Operations Debt Service TOTAL Successor Agency Resolution 13 -01 Page 2 of 3 $ 250,000 0 261,365 4,633,082 $ 5,144,447 PASSED AND ADOPTED at a regular meeting of the Successor Agency to the Tustin Community Redevelopment Agency held on the 18th day of June, 2013. ELWYN A. MURRAY, Mayor on behalf of the Successor Agency ATTEST: JEFFREY C. PARKER, City Clerk on behalf of the Successor Agency STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF TUSTIN 1, Jeffrey C. Parker, 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. 13-01 was duly assessed and adopted at a regular meeting held on the 18TH day of June, 2013, by the following vote: AGENCYMEMBER AYES: AGENCYMEMBER NOES: AGENCYMEMBER ABSTAINED: AGENCYMEMBER ABSENT: JEFFREY C. PARKER, City Clerk on behalf of the Successor Agency Successor Agency Resolution 13-01 Page 3 of 3