HomeMy WebLinkAbout05. CDC Budget 2011-12
AGENDA MEMO
DATE:
June 28, 2011
TO:
Chairman and Members of the Commission
FROM:
Office of the Executive Director
By: John Michicoff, Director of Finance
SUBJECT: PROPOSED BUDGET FOR 2011-12 FISCAL YEAR
RECOMMENDATION
That the Commission adopt the attached Resolution:
A RESOLUTION OF THE DOWNEY COMMUNITY DEVELOPMENT COMMISSION
ADOPTING THE FISCAL YEAR 2011-12 BUDGET WITH IMPLEMENTING
DOCUMENTS
.
DISCUSSION
City staff has prepared the attached Resolution for the Downey Community
Development Commission (DCDC) to approve the 2011-12 Commission budget.
The Resolution is based upon the proposed budget document provided to the
Commission in May and subsequently reviewed during a June 7, 2011 jointly held study
session with the City Council. Two changes have been made to the proposed budget
which is briefly described below:
Increased the Commission’s Chamber of Commerce contribution from $25,000
to $33,500
Downgraded the Assistant Community Development Director position to
Community Development Manager and eliminated the Business Development
Manager position
The Commission budget is composed of three main parts. The first part is the
operations and projects of the Commission, which totals $1,840.518. The second part
is housing, which is funded with the state mandated 20% set aside funds as well as
federal grants and totals $5,403,720. The third and last part is the Debt Service which
records all principal and interest payments and totals $4,800,000.
S:\Agenda Memos CC 2011\06-28-11\CDC Budget.doc
CITY OF DOWNEY, CALIFORNIA
RESOLUTION NO.
A RESOLUTION OF THE DOWNEY COMMUNITY DEVELOPMENT
COMMISSION ADOPTING THE FISCAL YEAR 2011-12 BUDGET WITH
IMPLEMENTING DOCUMENTS
WHEREAS,
the Commission has given careful consideration to the proposed
budget recommended by the Executive Director for the Fiscal Year 2011-12.
NOW, THEREFORE, THE DOWNEY COMMUNITY DEVELOPMENT
COMMISSION DOES RESOLVE AS FOLLOWS:
SECTION 1.Authorization to Expend.
The Executive Director is hereby
authorized to expend, in accordance with the laws of the State of California, on behalf of
the Commission, an amount of $12,044,238for the Commission operations detailed
below and in the Preliminary Budget Report Fiscal Year 2011-12 together with any
supplemental revisions or amendments hereto authorized by the Commission:
Community Development $ 1,840,518
Housing 5,403,720
Debt Repayment 4,800,000
Total: $12,044,238
SECTION 2.Specified Appropriations.
The amount of dollars specified above
is hereby appropriated from the following funds:
Redevelopment Project Fund $ 1,840,518
Housing Set-Aside Fund 5,403,720
Redevelopment Debt Fund 4,800,000
Total: $12,044,238
SECTION 3.Maximum Amounts Authorized.
The appropriations specified
above shall constitute the maximum amounts authorized for each department in each
fund. The Executive Director is hereby authorized to make budgetary transfers within a
fund if such transfers are necessary and proper to the effective operation of the
Commission; provided, however, that:
(a) Appropriations for personnel costs cannot be transferred to supply and
service accounts.
(b) Any non-budgeted equipment, new or replacement, that costs more
than $5,000 requires prior Commission approval.
(c) The Executive Director will inform the Commission of the purchase of
non-budgeted equipment, new or replacement that costs less than $5,000.
Resolution No.
Page Two
(d) Authorized manpower levels as specified in the Proposed Budget Report
are neither increased nor transferred without prior approval of the
Commission. However, the Executive Director may exceed authorized
manpower levels on a temporary basis to provide for the effective training
and orientation of new employees and may downgrade classification
levels.
SECTION 4. Budgetary Transfers.
The Executive Director is hereby
authorized to transfer monies between funds in such amounts and at such times during
the fiscal year as he/she may determine necessary to the competent operation of the
Commission; except no such transfer shall be made in contravention of State law.
SECTION 5.Authorization for Fiscal Year.
The appropriations, number and
classification of employees as specified in the Preliminary Budget Report and any
amendments or revisions authorized by the Commission are hereby authorized for the
fiscal year.
SECTION 6.Certification.
The Secretary shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED
this
28th day of June, 2011.
_____________________________
LUIS H. MARQUEZ
, Mayor
ATTEST:
Secretary
JOYCE DOYLE, Interim
I HEREBY CERTIFY
that the foregoing Resolution was duly adopted by the
th
Community Development Commission of Downey at a regular meeting held on the 28
day of June, 2011, by the following vote, to wit:
AYES: Commissioners:
NOES: Commissioners:
ABSENT: Commissioners:
ABSTAIN: Commissioners:
Secretary
JOYCE DOYLE, Interim