HomeMy WebLinkAbout12. Adopt BudgetOVERSIGHT BOARD MEMORANDUM
DATE: April 26, 2012
TO: MEMBERS OF THE OVERSIGHT BOARD
0 FROM: GILBERT A. LIVAS ON BEHALF OF THE SUCCESSOR AGENCY '
ITEM: Adopt Resolution No. OB 12- , A Resolution of the
Oversight Board to the Successor Agency to the Dissolved Downey
Community Development Commission Approving the Administrative
Budgets for the Period of January 1, 2012, Through June 30, 2012,
and Period of July 1, 2012, Through December 31, 2012, Pursuant to
Health and Safety Code Sections 34177.
SUMMARY
One of the responsibilities of the Successor Agency is to prepare an
administrative budget and submit it to the Oversight Board for approval. The
proposed administrative budget includes estimated amounts for the Successor
Agency's administrative costs for the six -month fiscal period covering January 1,
2012 through June 30, 2012, and the second six -month period from July 1, 2012
through December 31, 2012.
Per AB 1x26, the Successor Agency is eligible to receive an allowance of
$250,000 for administrative expenses in fiscal year 2011 -2012 and fiscal year
2012 -13. The proposed administrative budgets includes estimated costs of the
Successor Agency associated with undertaking the various task of the winding
down the redevelopment affairs of the Community Development Commission.
RECOMMENDATION
That the Oversight Board adopt Resolution No. OB 12- approving
the Administrative budgets for the period of January 1, 2012, through June 30,
2012, and July 1, 2012, Through December 31, 2012, Pursuant to Health and
Safety Code Sections 34177.
12.
OVERSIGHT BOARD RESOLUTION NO.
A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR
AGENCY TO THE DISSOLVED THE DOWNEY COMMUNITY DEVELOPMENT
COMMISSION APPROVING THE ADMINISTRATIVE BUDGETS FOR THE
PERIOD OF JANUARY 1, 2012, THROUGH JUNE 30, 2012, AND PERIOD OF
JULY 1, 2012, THROUGH DECEMBER 31, 2012, PURSUANT TO HEALTH
AND SAFETY CODE SECTIONS 34177
WHEREAS, the Oversight Board to the Successor Agency to the
dissolved redevelopment agency functions of the Downey Community
Development Commission has been appointed pursuant to the provisions of
Health & Safety Code Section 34179; and
WHEREAS, the City of Downey ( "City "), acting in its capacity as the
Successor Agency ( "Successor Agency ") to the dissolved redevelopment agency
functions of the Downey Community Development Commission ( "CDC "), duly
prepared proposed Administrative Budgets for the period of January 1, 2012,
through June 30, 2012, and period of July 1, 2012, through December 31, 2012,
in accordance with Health and Safety Code sections 34171(b) and 34177(j); and
WHEREAS, pursuant to Health and Safety Code sections 34177(j), the
Oversight Board must approve an administrative budget for a successor agency
for it to become established, valid, and operative for the applicable six -month
fiscal period.
NOW, THEREFORE, BE IT RESOLVED by the Oversight Board as
follows:
SECTION 1. The foregoing Recitals are true and correct and are
incorporated herein.
SECTION 2. The Administrative Budgets covering the period of January
1, 2012, through June 30, 2012, and period of July 1, 2012, through December
31, 2012, attached hereto and incorporated herein by reference as Exhibit "A ",
are hereby approved pursuant to Health and Safety Code Sections 34177(j), and
any other law that may apply to the approval by the Oversight Board of the
identified ROPS for the identified periods.
SECTION 3. Pursuant to Health and Safety Code section 34177(k), the
Secretary or authorized designee shall provide to the County Auditor - Controller
administrative cost estimates that are to be paid from property tax revenues
deposited into the Redevelopment Property Tax Trust Fund based on the
Administrative Budgets for the identified period approved by this Resolution.
SECTION 4. The Secretary shall certify to the adoption of this Resolution.
PASSED AND ADOPTED by the Oversight Board at a meeting held on
the day of , , 2012.
ATTEST:
SECRETARY, OVERSIGHT BOARD
STATE OF CALIFORNIA
COUNTY OF ) SS
CITY OF )
I, , Secretary to the Oversight Board, hereby certify that
the foregoing resolution was duly adopted at a meeting of the Oversight Board,
held on the day of , 2012.
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
BOARD
CHAIR, OVERSIGHT BOARD
SECRETARY, OVERSIGHT
EXHIBIT "A"
Administrative Budgets
For The Identified Periods
(Attached)
Type of Expense
January 1, 2012-
June 30, 2012
July 1, 2012 -
Dec 31, 2012
Source of Funding
Personnel / Staffing
$ 170,000.00
$ 85,000.00
Adminstrative Cost Allowance
Supplies & Support Services
$ 5,000.00
$ 2,500.00
Adminstrative Cost Allowance
Auditing Services
$ 15,000.00
$ 7,500.00
Adminstrative Cost Allowance
Legal Services
$ 40,000.00
$ 20,000.00
Adminstrative Cost Allowance
Other Professional Services
$ 20,000.00
$ 10,000.00
Adminstrative Cost Allowance
Total Administrative Budget
$ 250,000.00
$ 125,000.00
SUCCESSOR AGENCY TO THE
DISSOLVED DOWNEY
COMMUNITY DEVELOPMENT
COMMISSION
ADMINISTRATIVE BUDGET