HomeMy WebLinkAbout14-16 (No Separate Audit for SA for FY Ending 6-30-14)OVERSIGHT BOARD RESOLUTION NO. 14-16
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY APPROVING THAT THE
AUDIT FOR FISCAL YEAR ENDING JUNE 30, 2014 WILL
BE THROUGH THE CITY OF TUSTIN'S ANNUAL AUDIT
AND NOT REQUIRE A SEPARATE AUDIT FOR THE
SUCCESSOR AGENCY
The Oversight Board of the Successor Agency to the Tustin Community
Redevelopment Agency finds, determines and declares as follows:
A. The City of Tustin ( "City ") is a municipal corporation organized and operating under
the laws of the State of California; and
B. The Successor Agency is a public body corporate and politic, organized and
operating under Parts 1.8 and 1.85 of Division 24 of the California Health and Safety
Code, and the successor the former Tustin Community Redevelopment Agency
( "former Agency") that was previously a community redevelopment agency
organized and existing pursuant to the Community Redevelopment Law, Health and
Safety Code Section 33000, et seq. ( "CRL "); and
C. Assembly Bill x1 26 ( "AB x1 26 ") added Parts 1.8 and 1.85 to Division 24 of the
California Health & Safety Code and which laws were modified, in part, and
determined constitutional by the California Supreme Court in the petition California
Redevelopment Association, et al. v. Ana Matosantos, et al., Case No. S194861,
which laws and court opinion caused the dissolution of all redevelopment agencies
and winding down of the affairs of former redevelopment agencies; thereafter, such
laws were amended further by Assembly Bill 1484 and subsequent legislation
(together AB x1 26, the Matosantos Decision, and subsequent legislation are
referred to as the "Dissolution Law "). All statutory references herein are to the
Health and Safety Code of the Dissolution Laws unless otherwise stated; and
D. As of February 1, 2012 the former Agency was dissolved pursuant to the Dissolution
Laws and as a separate public entity, corporate and politic the Successor Agency
administers the enforceable obligations of the former Agency and otherwise unwinds
the former Agency's affairs, all subject to the review and approval by a seven -
member oversight board ( "Oversight Board "); and
E. Section 34177(n) of the California Health and Safety Code requires the Successor
Agency to cause an annual post audit of its financial transactions and records. The
Department of Finance notes that Successor Agency activities will be audited and
reported as a trust fund that will be included in the financial statements of the
sponsoring government, however, it would prefer as best practice to have a separate
set of audited financial statement completed. The Department of Finance states that
Oversight Board Resolution No. 14 -16
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the decision for a separate audit is best made at the local level. The Successor
Agency is audited through the City of Tustin's annual audit conducted by a Certified
Public Accounting firm and stated as a separate Private Purpose Trust Fund on the
audited financial statements and there are no funds available in the Successor
Agency to conduct a separate audit.
NOW, THEREFORE, BE IT RESOLVED BY A RESOLUTION OF THE
OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN
COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The foregoing recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
Section 2. The Oversight Board approves that the audit for the Successor Agency for
fiscal year ending June 30, 2014 will be through the City of Tustin's annual audit and will
not require a separate audit for the Successor Agency.
Section 3. The City Manager of the Successor Agency or his authorized designee is
directed to post this Resolution on the City /Successor Agency website.
Section 4. This Resolution shall be effective after transmittal of this Resolution to the
DoF and the expiration of five (5) business days pending a request for review by the
DoF within the time periods set forth in Assembly Bill No. 1484, which amended the
Dissolution Act and was approved by the Governor on June 27, 2012. In this regard, if
the DoF requests review hereof, the DoF will have 40 days from the date of its request
to approve this Oversight Board action or return it to the Oversight Board for
reconsideration and the action, if subject to review by DoF, will not be effective until
approved by the DoF.
Section 5. The Secretary of the Oversight Board shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 24"' day of June, 2014.
Doug Da rt, Chair
OversigVYBoard of the Successor Agency to
the Tusfih Community Redevelopment Agency
ATTEST:
Charles E. "Chuck" Puckett, Secretary
Oversight Board of the Successor Agency to
the Tustin Community Redevelopment Agency
Oversight Board Resolution No. 14 -16
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )SS
CITY OF TUSTIN )
I, CHARLES E. "CHUCK" PUCKETT, Secretary of the Oversight Board of the
Successor Agency to the Tustin Community Redevelopment Agency, do hereby certify
that the whole number of the members of the Agency Board is seven; that the above
and foregoing Resolution No. 14 -16 was duly passed and adopted at a regular meeting
of the Oversight Board, held on the 24"' day of June, 2014, by the following vote:
BOARD MEMBER AYES: Davert, Fitzsimons Bernstein
Puckett, Soria, West (6)
BOARD MEMBER NOES: None (p )
BOARD MEMBER ABSTAINED: None (p )
BOARD MEMBER ABSENT: Nielsen (1 )
Oversight Board Resolution No. 14 -16
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