The URL can be used to link to this page

Home My WebLink About01 SA APPROVAL OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR 7.1.16 THROUGH 6.30.17MEETING DATE: TO: FROM: AGENDA REPORT JANUARY 19, 2016 JEFFREY C. PARKER, CITY MANAGER Agenda Item 1 Reviewed: City Manager Finance Director SUCCESSOR AGENCY AND FINANCE DEPARTMENT SUBJECT: SUCCESSOR AGENCY APPROVAL OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR PERIOD OF JULY 1, 2016 THROUGH JUNE 30, 2017. SUMMARY: Pursuant to AB 1X 26 and the recently passed Senate Bill ("SB") 107, the City of Tustin, acting as the Successor Agency to the Tustin Community Redevelopment Agency (Successor Agency), is seeking approval of the Recognized Obligation Payment Schedule 16-17 ("ROPS 16-17") for the period of July 1, 2016 through June 30, 2017. RECOMMENDATION: It is recommended the City Council, acting as the Successor Agency, approve ROPS 16-17 for the period of July 1, 2016 through June 30, 2017, and authorize submission of the ROPS 16-17 to the Department of Finance ("DoF") by February 1, 2016, subject to the following conditions: 1. Review and approval by the Oversight Board; and 2. Should any subsequent modifications be required to ROPS 16-17 by the Successor Agency, independent auditor, or the DoF, the Successor Agency's Executive Director and/or Finance Director, or their authorized designee, shall be authorized to make any augmentation, modification, additions or revisions as may be necessary subject to certification by the Oversight Board Chair. (Note: Pursuant to California Health and Safety Code (HSC) Section 34177(m), the above actions by the City's Successor Agency shall not become effective for forty- five (45) business days after approval by the Oversight Board pending a review by the DoF. Within five business days of the DoF's determination, the Successor Agency can request additional review by the DoF and an opportunity to meet and confer on disputed items.) Agenda Report January 19, 2016 Page 2 COORELATION TO STRATEGIC PLAN: ROPS 16-17 has been prepared to be consistent with the City's value of Fiscal Stewardship, exercising fiscal discipline to live within the means and practicing sound stewardship of the public's assets. BACKGROUND: Assembly Bill 1X 26, the "Dissolution Act", as modified by the California Supreme Court's decision in California Redevelopment Association, et al. v. Matosantos ("Matosantos"), required the Successor Agency to prepare a Recognized Obligation Payment Schedule (ROPS) every six months. With the September 2015 passage of SB 107, HSC Section 34177 was amended to add 34177(0), revising the number of ROPS required during a fiscal year from two (2) six-month schedules to one (1) twelve month schedule. HSC Section 34177(o)(1)(E), does allow the Successor Agency to amend the ROPS once during the one-year period, as long as it occurs before October 1St. These requirements became effective on January 1, 2016. As a result, the Successor Agency has prepared ROPS 16-17 for the period of July 1, 2016 through June 30, 2017, and, upon Successor Agency approval, will submit it to the Oversight Board for approval. ROPS 16-17 lists all enforceable obligations that are legally binding and enforceable agreements or contracts of the former Tustin Community Redevelopment Agency including those necessary for the continued administration of the Successor Agency to wind down the former Agency. Pursuant to HSC Section 34177(I)(2)(B)), the Successor Agency is required to submit a copy of the ROPS to the County Administrative Officer, the County Auditor -Controller, and the DoF at the same time that the Successor Agency submits the ROPS to the Oversight Board for approval. ROPS 16-17 will be submitted to the Oversight Board at their regular meeting on January 26, 2016. Upon approval by the Oversight Board, a copy will be submitted to the County Auditor -Controller, the State Controller's Office and the DoF and posted on the Successor Agency's website. ROPS 16-17 includes a report of Cash Balances, which includes the expenditures for ROPS 15-16A during the period of July 1, 2015 through December 31, 2015. The Finance Department is currently closing out the ROPS expenditure period and there could be adjustments between the submission of the ROPS to the City Council and the submission to the Oversight Board. Authorization is requested to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed prior to submitting to the Oversight Board. In addition, authorization is requested, in response to Oversight Board, DoF, or County Auditor- Agenda Report January 19, 2016 Page 3 Controller comments, to allow the Successor Agency's Executive Director and/or Finance Director to augment, modify, add or revise the document as may be needed. Staff will be available to answer any questions the City Council may have. Jerry Craig Economic De p e ousing Manager Successor A y for e Tustin ' Communedevelopment Agency l j J' ny Leis inance Manager Successor Agency to the Tustin Community Redevelopment Agency vxc Sean Tran Administrative Services Manager Successor Agency to the Tustin Community Redevelopment Agency Attachment: ROPS 16-17 (July 1, 2016 through June 30, 2017) Recognized Obligation Payment Schedule (ROPS 16-17) -Summary Filed for the July 1, 2016 through June 30, 2017 Period Successor Agency: Tustin County: Orange Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Name Signature Title Date ROPS 16-17 Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16-17A Total 16-17B Total Total Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 3,314,442 $ 1,571,065 $ 4,885,507 B Bond Proceeds Funding - - - C Reserve Balance Funding - - - D Other Funding 3,314,442 1,571,065 4,885,507 E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 594,393 $ 5,935,305 $ 6,529,698 F Non -Administrative Costs 594,393 5,935,305 6,529,698 G Administrative Costs - - - H Current Period Enforceable Obligations (A+E): $ 3,908,835 $ 7,506,370 $ 11,415,205 Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Name Signature Title Date Tustin Recognized OWigafio Payment Schedule(ROPS 16-17)-ROPS Detail July 1, 2DI6 through June 50, 2017 (Report Amounts in Whole Ddlan) A B C D E F G H I J K L M N O P p R 5 T U V W em# Project NamelDebt Oblig—, -B.., Type ContaNAgreement ExeclRion Date GOnt—greement TenrvnaOOn Date Payee fJexnptonlPmject Scope P,.J-Area Total Odstanding Debtor Oblig—, Ra- ROP516-17 Total 16-17A 1&1]A Total 16-17B 1&17B Total Nan-RM—prrent POpehy Tax Tm5 Fund NOnRPTTF RPTTF Non -Redevelopment P, Tax Tm3 Fund NOM RPTTF Bond Pm Hs Receive Balance IXMr Funds N—dmn Admin Bond Proceeds Reserve Balance Other F,- 1—dmin Ad— 1 Heusin Tax Allocation Bonds BOndslguM Gi or Before 3112010 9112039 Bond M1Oldersvia TM1e Bank Preceetlsfmm the cele of the Bonds All 13533]965 33411334 N 11415205 $ 180810] 3314442 131 9]04 594393 3908835 $ 1319]04 15]1065 488483 5935305 ]5863]0 $ 488403 2 Fxal Agen[Fees -TAB-2010 Foes 11192010 9112039 TM1e Bank of New VOMadmni3en08n Mellon of bond acOvM1ies(paid wallyj All 35,01 N 30 $ 3,0 $ - 3,388 $ 3,300 3GOn0 nuing dixlesvrecervices& arbitragesery Fees 111912010 9112039 Applietl BUY RacOces; Id —ata-, -t"u"g d-- l, for =.—g bonds and -a - All 70,000 N $ 5,900 2,900 $ 2.900 3,888 $ 3,000 8 PERSliabilq(annually adj—) Blau—LiabilM1ies ]112014 N302015 Gty of Tuan EOpleyees funded by the S All Age that ""TSucce�r Ag-,adi,M1 TheliabilM1y is eviewetl annually and Trey increase erdecrease bacetl on a variety of and aduarial aswmptions 14'000 N $ - $ - $ - 18 Town Center Housing Deficit RMlxtionRan SERAFIERAF 5112000 N30Yt015 Agerxy'sTovm Center H.—gSet-Astle fund Repayment for Town Center Heusing SetAside funds Zledte support norvM1eusing Redevelopment t' t" ,T Genterdudng the period et -6-1- Town Center - N $ - $ - $ - 19 Tax Allocation Refunding Bonds 1998 (Town Center) BOndslssro-1 On or Before 12131110 ]1111998 12112016 Bondh.lders via U S Bank Bond issue to fund norv.—g projects Total edatan , debt cludespri ,11 and interest Town Center - N $ - $ - $ - 20 21 FscalAent Fees -TA Band 1998 GOnOnuing disclosure &aNihage 'eswlldan&Asceciates Fees Fees 11192010 111912010 1212016 12/12016 US Bank Applied Best Radices; admni3ration of bond a ,aes Gontnuing disclesure&aNM1rage esfor 1998 bonds TOM Center Town Center - N N $ $ - $ $ - $ $ - 23 Steve ns Square Parking G a rage OedaenfionefCevenant�, Genddiens, Res[M1dions and Reservations Pht,h Maintenance 611]11988 N30Yt015 Stevens Square Parti ng Shudure Gendorrvnium A....... TM1ere areongoing—tens—AsTOwn as requlrM by the cc&Rs In addition, there are Oosome, d-hh. repairsthatw 1 be detenrvnetl by the 3mRmal engineering rise utu The costs dated with ongoing maintenance and defened naintenana, repairs are Center - N - - - ?S Public Works Agr—,IS..h Central Re development Projed GM1yl unly Loans On or Before -111 86Ib]Il.3 0&3012030 Cay of Tu3in Q,g lLoan.—.bitothe Agenry in 1993 was nRially s9il W be $33,500,00. for the Nevgod Avenue Extension(N—P., Meryass)to Edinger Avenue_ The interest ente is 5%above the City's average yield on s. Repaymentoftheloan is baced on Gly— Ph -1 wort (Capital lrryrovement Program- GP ]0130) that has been co"" on the Nevgod Avenue Edens SR -55 N odh Bound Ramp Reconfguration Projed. The Phase 1 project began in 1993 and was completed in March 2010_ Phase 1 (GP ]0130) contrads not I— on previous POPS or — There is no duplication of obligations FTace2woM (GP ]0131) wrests of contends Ik— below in Rows#42Jt4] and thece cts have not been double anted in Ph— 1. Pursuant w Sedion 1 Public Improvement WOM of the Public Works Agreement, the Succescer Agenry sra11 pay the City .hen projeds are co"— art in -annual ih_lments(per Sedion 2 Payment by the Agency of the Agreement} This irWallment will reflect initial reirrtursement payments until conhme ta, of the OversgM Board of the actual increaced cogs of p. pmjed. South Central 25,934,993 N 5,19'3]1 5,19'3]1 5,19'3]1 48 Tax Alloention BOMB -MCAS Tulin, Series 2010 BOndslssrMOnor Before 12131110 11112010 9112040 BOndh.ldersvia TM1e Ban of New VOM Mellon ond issuetofund Io h.usng projects Total OlRsanding debt cludesprincipal and interest MCAS 6'666,638 N 280'300 1,863,938 1,863,938 945,362 945,362 49 Fiscal Agent Fees-TABOM 2010 Fees 9/12010 9112040 The Bank of New Verk Mellon admnisration of bond activI,es MGRS 1,000 N 3,01 - 3,000 3,000 SO GOnt,nuing discb cervices& arbitrage services Fees 9112010 9112040 Applied BUY Pa't", VNlldan&Associates _H.', GOntnuing dixlosure services for 2010 MCAS bonds&aNM1rage MCAS 120,10 N $ 5,900 2.91 $ 2,900 3,10 $ 3,000 Tustin Recognized OWigafio Payment Schedule(ROPS 16-17)-ROPS Detail July 1, 2D16 through June 50, 2017 (Report Amounts in Whole Ddlan) A B C D E F G H I J K L M N O P O R 5 T U V W 16-17A 16-17B NorvR IIbpment Roperty Tax Tru. Fund NOnR— RPTTF Nnn-Redevelnpment P,pe Tax Tm3 Fund No,11 RPTTF B.MProceMs B_ ry Balance Ot-Funds NonAdmn PAmin Bond Proceeds Reserve Balance Ot-Funds No dmn Ad— em# Project NarnelDebt Obligation Obligation Type Con[raNAgreement Execution Date Con[raNAgreement Termnation Date Payee Dexripti.,Project Scope Project Area Total Out9andlng Debt or Obligation -h. ROPS1617 Total 1&17A Total 161713 Total 51 Leace betty lhn USA andtM1e Property Maintenance 51132002 0112040 Redevelopment Agent, Property Management M aintenance, .GAS - N - - - CW of Tustin far Portions of Me Environmental Renediaton, and Real Fanner Manne Corps Air StaMn Tu5in E. obligatons of CM1y required by Nary on Lease 9tes untl conveyance of properties TM1is Includes asset rrenagement and disposal, property r gement and remediaton_ Direct project related staffing costs only dated wRh asset management and disposalunderthe LF are Iis[M In Row#7. Co ntaRual ces , all ether ,tes under the LF Agh- ntwol be asmey are Deuned and as requests by me epartment of Navy_ 52 Lease between Me USA and Me Property Maintenance 811612004 8112040 Redevelopment Agent, Property Management Maintenance, MCAS - N r CiO, of Tustn foParcel 22 of the Environmental Renediaton, and Real Former Manne Corps Air Stan Tustin E.- obligatons of Cty required by Nary on Lease s untl conveyance of properties TM1is Includes asset —nagement and disposal, property agement and remediaton_ Direct project related staffing costs only dated wRh asset management and disposal under the LF are Iis[M In Row#7. Co ntaRual sensec sfer all ether �ensbomes underme L F Agreement Ml be asmey are Dtuned and as requests by the epartment of Navy_ 53 Economo Development P.P"M.,--- 5113IZW2 9112040 Redevebpment Agent, Obligationsof Gq required by Navy in MCAS - N- Conveyance (EDC)Applicetbn for [M1e conveyance of [M1e property under Madre Corys Air Station (M CAS) T—I as AmeMM [M1e Reuse Plan adop[M In 2002 This Includes asset rrenagement and disposal, property rrenagement and rerrediatun_ Dires projes related Aaffing cosy associated Mh asset —nagement and disposal under the EDC are I,—In Row#7. Gonth-ual response costsfor all other �onsbdmes underme EDG Agreement wm be asmey are euned and as requests by the Department of Navy_ 56 Contact for F nancial Analy9s P.—,.nal Services 11412011 813/2015 David Tau�g& A�ciates financialadv ,yservicesasmcated whdetenrvrtingdis,,b.,.n.f ==,,— -h background nhas[ruRure costs MCAS - N $ 67 fi810th Contact for Environmental Amend. Ag n% for Reimbursement of Costs and CM1ylAdm Agency Gpeations Profegional Services Ad— 111212010 &2&2012 &302015 N302016 Vandermos[Con�ttin EgployeesfuN by the SuccesmrAgenry Mat perform Succesmr Agent, ulatu A en c nsuhin Admnis[rative Budg 1, egployees, overhead&legal services ne for direct adm Ahttive o peration_TM MCAS All 2 ,MO N IN 250,000 125,000 125,000 125,000 125,000 Loan between the SArCq pursuant speeded for Q�e ht Board of the Succegor to Calrfomia HSG Settop 341T/Q) dlrtecta ni3 e opeatonsaswell as ve,head and legal Agent, to Me TuA,n C unty Redevelopment Agent, approvetl the adm ni3rative budget on M.h h l3, 'es 2012 and Me Succe—,Agent, adapted Successor Agent, Remlu[ion No. 111 on Ma,,h 20, 2012apph-ng the Adnh—Itve Budgetand approved the"Agreernent I, Reimbursement of Costs and CM1ylSuc ., Agent, Opemto ns Loan"_ Th sanauntwdl fluctuate Ad an wally_The nAha eBudget Mated In accoIan, w C Ihn a Healh and Safety Code S-,hn 34171(b),3 -Me Property t. Gated to the S Ag If., 2011212. 71 A6ordable Housirg Reirrburcement Agreement aM Fr9 AmeMment CitylCounty Loans Onor Before-111 061052007 001302030 Gy of T-I Inital AgreerreM belxmn-Ply aM Agency for the of All N Between City aM Agent, purpose reimbursing the CM1y for assting the Agent, In carrying out fts affordable M1ousing obligatons at TuA,n Feld I & Tustin Recognized OWigafio Payment Schedule(ROPS 16-17)-ROPS Detail July 1, 2016 through June 80, 2017 (Report Amounts in Whole Ddlan) A B c D E F G H I J K L M N O P O R 5 T U V W em# Pmje Name/Debtcbliga0on ObligaOon Type ConhaNAgreement Cont—greement Execution Date Tenni dt Date Total Outstanding Payee Descdp0on/Preje Scope Project Area Debt or Obli ddI19 RMS 16-1] --d Total 16-17A 16-17B 1&1]B Nor.Reaevelevment Ropem Ta. nus Fund No—F— RFTTF Non -Redevelopment Ro ,ty T. nus Fund NoIII RPTTF BPs Reserve Balance Cher Funds Non Admin Ad—Total 16-17A Bond Proceeds Reserve Balance Other Funds No drain Ad—Total ]25outh Central Roject Area Loan GIylCounly Loans Gr or Before 6l2]l11 09102/2006 061302030 Gly of T.ff Project purpo loan Amount is SdWh Central 4,650,000 derrvetl from App Dof thef dh Frve-Vear Irrylementation Ran of the AO CentraCenter Project Areas optptded on October 5, 2010_ as ad Continuation of Loan to dp on Gd...I trative Agreement atloptetl by coancil on sevterrter ], 201 B. The originally loaned W the = on Septerrber 2, 2006_ Prior Ioansto the Agency were for di6erirg needed by project area. IN 1,169,32] 5.,393 5.,393 584,934 5.,934 73 Hou9ng Ta.Allo 11Bonds, Series 2010 -Legal Services Legal ]/1/2014 6/3012015 It, Attorney-Wootlmff, paject�eci"Il ll servicesfor All 200,000 Spatllin&Smart (inclutling bond+elatetl aRivM1ies identifietl in Sbadling Vocca C" n & 1,11Rauth, Remy, Thomas, Moose & Manley, Waters & Company, mJeanette Jusu' Arbser Goldsinth & Dely LLP; Cappello & Noel LLP, and Nutak Rack) N 10,000 5,000 5,000 5,000 5,000 78 Tax Allocation RefuMng B, 1, 1ss8(iownCenter)-Legal Services Legal ]/1/2014 N302015 I Gry Attorney -Woodruff, pmjecty ficlegal services(., Town Center - Spratllin&S—a'et al_ bond—llated d"ftesidentit. in Row#10 N $ - $ - $ - 82 Tax Alldztn sBonds-MGAS Tusth, Series 2olo-Legal Services Legal ]/1/2014 &30/2015 Gry Attorney -Woodruff, pajectapecificlegalservicesfor MCAS 200,000 GPIX&smarc,Idl_ bond+elat,dacooloesmentf,d,n ROW# 48 N $ 10,000 5,000 $ 5,000 5,000 $ 5,000 63 Lea between Me USA and the City of Tustin for Porti ons of t Former Marine corps Air Station T.9 -Legal Services Legal 0110112014 30/2014 ery Attomey-Woodruff, Pajectyecificlegal services(., MCAS Spatllin&Srrert, et al_ enforceable oblgaOon aRiviOes i Jehtd N in Row #51 B4 Lea�beN,eenthe USA -the city of Tustin for Parce122 of the F_ zl_ ,sA,, Station Legal 0110112014 0613012014 Gry Attorney-WdM,O,, project -specific legal � desfor MCAS Spradlin&S.d, dal. enforceable obligation activities i Jentd N in —#52 85 Economic Development Conoeyance(EDC)Appficatdnmr Marine Corps Air Statdn (MCAS) Tusin asAmended -Legal Services Legal 7/1/2014 6/30/2015 Qt, Attorney-Wootlmff_ prejectapecific legal services(., MCAS - Spad% Smart, et as_ enf able obllgatdn aUl,tds idenOfied in Row#53 N $ - 3 $ - 90 Hoasiry Emiry Admin�rarve cos Allowance Housirg Entity Admn cog 0]10112014 061302018 T.9 Housirg ANhority Pursrant to AB 4]1, (led Feb 18, All 600,000 201, housirg atlmnistatrve ca9 allowance for the T.9 Housirg ANhoriry w1ucM1 ammed the housirg dNlesof ,Tustin Cormuniry Retleve N 150,000 150,000 82 Su,,= Agency Pa ,ty Maintenance -Fence Repair, Edinger Avenue Parcels Papem Maintenance 1/1/2015 6/30/2016 Lavin Fence Company Pursuant to HSG Becton 3417 1(b) South Cenbal - and (d)(1)(F), Edinger Avenue fence repairs for an Agency asset pdorto disp...' N $ - $ B Succe�rAgency Prepem Maintenance -Fence Repair, Stevens Square Parking StruRure Prepem Maintenance 1112015 6/30/2016 Gry of Tusin Pursuant[. HSC Section 341]1 (b) Town Center - and Al (1 )(F), Stevens Square Parking StruRure fence repair for an Agency sset did, . tlisposfion N - - - s4 Su" ,Court Cart. 80001623,Succ Su—, v_ Matosantos-LaCal Services LM1igaOon 1/1/2013 6/30/2017 ery Attorney -Woodruff, Pursuant to HSG SeRion 341]1(6) All - Spatllin&S_a"t'al_ and(d)(1)(F), IM1igaOon e.pen�s dated wRh Superior Court Cam _11380001623 and subs, -. Appeal in Me ThiNAppellateG -,, Gale 34201380001MCUVVMGDS IN - - - 95 Superior Court Ga�342015 DO—l-, Succ ,Agenry v_ Cohen- Legal Servires LRigation 1/1/2014 6/30/2018 ery Attomey-Woodruff, Pursuant to HSG Section 341]1(6) All - Spatllin&S—d'etat_ and(d)(1)(F), IM1igaOon e.pd_ ciatetl -h Superior Court Cam 342015800002046 IN - - 96 N $ $ $ s] 48 N $ N $ $ $ $ $ 99 100 N $ N $ $ $ $ $ m1 1. N $ N $ $ $ $ $ 183 104 N IN m5 186 N $ N $ $ $ $ $ 1B] 188 N $ N $ $ $ $ $ os 118 N $ N $ $ $ $ $ 111 112 N IN 113 1 1 1 1 1 1 1N $ $ $ 114 115 N $ N $ $ $ $ $ 116 117 N $ N $ $ $ $ $ Tustin Recognized Obligation Payment Schedule (ROPS 16-17) - Report of Cash Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) maybe listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, seeCASH BALANCE TIPS SHEET A B C D E I F G H I Fund Sources Bond Proceeds Reserve Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF Bonds issued on and DDR RPTTF distributed as Rent, Non -Admin or before Bonds issued on balances reserve for future grants, and Cash Balance Information by ROPS Period 12/31/10 or after 01/01/11 retained period(s) interest, etc. Admin Comments ROPS 15-16A Actuals 07/01/15 - 12/31/15 1 Beginning Available Cash Balance (Actual 07/01/15) 5,052,523 537,078 2 Revenue/Income (Actual 12/31/15) RPTTF amounts should tie to the ROPS 15-16A distribution from the County Auditor -Controller during June 2015 No RPTTF distribution received during June 4,112,692 - 2015. 3 Expenditures for ROPS 15-16A Enforceable Obligations (Actual 12/31/15) 5,032,454 4 Retention of Available Cash Balance (Actual 12/31/15) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 15-16A RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance CtoG=(1+2-3-4),H=(1+2-3-4-5) $ _ $ _ $ _ $ - $ 4,132,761 1 $ 537,078 ROPS 15-16B Estimate (01/01/16 - 06/30/16) 7 Beginning Available Cash Balance (Actual 01/01/16) (C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6) $ _ $ _ $ _ $ - $ 4,132,761 $ 537,078 8 Revenue/Income (Estimate 06/30/16) Other revenue includes rents projected to be RPTTF amounts should tie to the ROPS 15-16B distribution from the collected by the Successor Agency. The City will County Auditor -Controller during January 2016 be transferming to the Successor Agency $4,101,171 in December 2016 as part of Its 7.500 893,703 Settlement Agreement with the DOF. 9 Expenditures for ROPS 15-16B Enforceable Obligations (Estimate These expenditures were approved to be spent 06/30/16) from RPTTF funds prior to the City's agreement with the DOF. As funding for these expenditures will now be provided through the City's December 2016 scheduled transfer of $4.1 million, we are including these expenditures 1,519,824 under "Other" funding sources. 10 Retention of Available Cash Balance (Estimate 06/30/16) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 11 Ending Estimated Available Cash Balance (7 + 8 - 9 -10) $ - $ - $ - $ - $ 2,620,437 $ 1,430,781 Tustin Recognized Obligation Payment Schedule (ROPS 16-17) - Notes July 1, 2016 through June 30, 2017 Item II Notes/Comments 35 This enforceable of 90