HomeMy WebLinkAbout06. Approval of Admin BudgetDATE: August 16, 2012
TO: MEMBERS OF THE OVERSIGHT BOARD
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
Redevelopment functions of the Downey Community Development
Commission Approving the Administrative Budgets for the Period of
January 1, 2013, Through June 30, 2013 Pursuant to Health and
Safety Code Sections 34177.
SUMMARY
OVERSIGHT BOARD MEMORANDUM
One of the responsibilities of the Successor Agency is to prepare and submit an
administrative budget to the Oversight Board for its approval. The proposed
budget includes the amounts requested for certain administrative costs expected
over the period of January 1, 2013 through June 30, 2013.
Per ABx1 26, the Successor Agency can receive an administrative allowance of
$250,000 per fiscal year to wind down the redevelopment affairs of the former
redevelopment agency. The proposed administrative budget provides an
estimate of the funding need for the Successor Agency to provide the various
tasks to wind down the redevelopment affairs of the Community Development
Commission.
RECOMMENDATION
That the Oversight Board adopt Resolution No. OB 12- approving the administrative
budget for the period of January 1, 2013, through June 30, 2013.
OVERSIGHT BOARD RESOLUTION NO.
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, 2013, THROUGH JUNE
30, 2013, PURSUANT TO HEALTH AND SAFETY CODE SECTIONS
34177
WHEREAS, the Oversight Board to the Successor Agency to the dissolved
redevelopment 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 functions of the Downey Community
Development Commission ( "CDC "), duly prepared proposed Administrative Budgets for the
period of January 1, 2013, through June 30, 2013, 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, 2013,
through June 30, 2013, 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.
PASSED AND ADOPTED by the Oversight Board at a meeting held on the day
of , 2012.
ATTEST:
SECTION 4. The Secretary shall certify to the adoption of this Resolution.
SECRETARY, OVERSIGHT BOARD
CHAIR, 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:
ABSTAIN: BOARD MEMBERS:
SECRETARY, OVERSIGHT BOARD
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
January 1, through June 30, 2013
Expense Category
Expense Amount
Funding Source
Personnel / Staffing
$ 90,000.00
Administrative Allowance
Supplies a Support Services
$ 2,500.00
Administrative Allowance
Auditing Services
$ 7,500.00
Administrative Allowance
Legal Services
$ 20,000.00
Administrative Allowance
Other Professional Services
$ 5,000.00
Administrative Allowance
Total Administrative Budget
$ 125,000.00
EXHIBIT "A"
Administrative Budgets
For The Identified Period
(Attached)