HomeMy WebLinkAboutRDA 2 ADOPT AGENCY BUD 07-07-03AGENDA REPORT
Agenda Item
Reviewed:
City Manager
Finance Director
MEETING DATE: JULY 7, 2003
TO:
WILLIAM A. HUSTON, EXECUTIVE DIRECTOR
FROM'
RONALD A. NAULT, FINANCE DIRECTOR
SUBJECT:
RESOLUTION NO. RDA 03-11 ADOPTING THE AGENCY BUDGET AND
APPROPRIATING REVENUE OF THE AGENCY FOR FISCAL YEAR 2003/2004
SUMMARY:
The Agency is requested to approve the attached Resolution adopting the budget for the
Tustin Community Redevelopment Agency for Fiscal Year 2003/2004.
RECOMMENDATION:
Adopt Resolution No. RDA 03-11, a Resolution of the Board of Directors of the Community
Redevelopment Agency of the City of Tustin, adopting the Agency's 2003/2004 Budget of
$12,832,717.
FISCAL IMPACT:
The Redevelopment Agency action will adopt the expenditure program for the 2003~2004 fiscal year.
DISCUSSION:
The Draft 2003~2004 Tustin Community Redevelopment Agency Budget was included in the Draft
City Budget presented to the City Council at its workshop on June 16, 2003. There are no
adjustments included in the recommended appropriations.
Finance Director
Keith ~.'Neves
Senior Management Analyst
Attachment
BU DGET&CAFR: RDA2003BudgetStaffReport.doc
RESOLUTION NO. RDA 03-11
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF TUSTIN, CALIFORNIA, ADOPTING THE AGENCY BUDGET AND
APPROPRIATING FROM ANTICIPATED REVENUE OF THE AGENCY FOR
THE FISCAL YEAR 2003-2004
WHEREAS, in accordance with good fiscal policies, the Executive Director of
the Tustin Community Redevelopment Agency has prepared and submitted to the
Board of Directors a proposed Annual Budget for the 2003-2004 fiscal year,
beginning July 1, 2003; and
WHEREAS, Section 33334.3 of California Redevelopment Law provides that
the amount of money spent from the Low and Moderate Income Housing Fund for
planning and general administrative activities associated with the development,
improvement and preservation of Iow and moderate income housing shall not be
disproportionate to the amount actually spent for the cost of production,
improvement or preservation of that housing, and that the Redevelopment Agency
shall determine annually that the expenditures from the Low and Moderate Income
Housing Fund for planning and administrative expenses are necessary for the
production, improvement or preservation of the Iow and moderate income housing;
and
WHEREAS, the Board of Directors, as the legislative body of the Agency, has
reviewed this proposed budget;
NOW, THEREFORE, the Board of Directors of the Community Redevelopment
Agency of the City of Tustin does hereby resolve, determine and order that the
following sums of money are appropriated from the anticipated revenue of the
Redevelopment Agency for the purposes stated during the 2003-2004 fiscal year,
and that the expenditures from the Low and Moderate Income Housing Fund for
planning and administrative expenses are necessary for the production,
improvement or preservation of Iow and moderate income housing.
Operating Expenses
Debt Service
Capital Improvements
648,1 O6
2,119,534
10,065,077
TOTAL APPROPRIATIONS 2003-2004 $ 12,832,717
PASSED AND ADOPTED at a regular meeting of the Community
Redevelopment Agency of the City of Tustin held on the 7th day of July, 2003.
Tracy Wills Worley
Chairperson
ATTEST:
Pamela Stoker
City Clerk
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
RESOLUTION NO. RDA 03-11
Pamela Stoker, Recording Secretary and ex-officio Secretary of the Community
Redevelopment Agency of the City of Tustin, California, does hereby certify that the
whole number of the members of the Tustin Community Redevelopment Agency is five;
that the above and foregoing Resolution was duly and regularly passed and adopted at
a regular meeting of the Tustin Community Redevelopment Agency held on the 7th day
of July, 2003, by the following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
Pamela Stoker
Recording Secretary
RES: RDA2003-2004BudgetResolution.doc