The URL can be used to link to this page

Home My WebLink AboutRES RDA 2010 224 2010 0217RESOLUTION NO. 2010 -224 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, AUTHORIZING AN AMENDMENT TO THE FISCAL YEAR 2009/2010 ADOPTED OPERATING AND CAPITAL IMPROVEMENTS BUDGET WHEREAS, on July 1, 2009, the Moorpark Redevelopment Agency adopted the Operating and Capital Improvements Budget for fiscal year 2009/2010; and WHEREAS, certain additions and adjustments to the budget are proposed to allow for effective service delivery for the balance of the fiscal year; and WHEREAS, the Board of Directors of the Moorpark Redevelopment Agency now wishes to amend the 2009/2010 fiscal year budget as noted in Exhibits "A and B ". NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. A budget amendment as more particularly described in Exhibits "A and B" attached hereto is hereby approved. SECTION 2. The Agency Secretary shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original resolutions. PASSED AND ADOPTED this 17th day of February, 2010. � A Ja ce S. Parvin, Chair ATTEST: ��w Maureen Benson, Assistant Secretary ESTABL r-,NFD Muwc►t is, 1987 � �Q Q /FOa� Q Attachment: Exhibits A and B — Mid Year Budget Amendment cif, Q Resolution No. 2010 -224 Page 2 Exhibit "A" MOORPARK REDEVELOPMENT AGENCY Mid Year Budget Amendment for the 2009/2010 Fiscal Year Summary by Fund Fund 2901 - Low /Mod Housing 2902 - MRA Operation 2904 - MRA Bonds Proceeds 2001 2905 - MRA 2006 TA Bonds 3900 - MRA Debt Service 3901 - MRA 99 TAB 3902 - MRA 01 TAB 3903 - MRA 06 TAB Projected Projected Net Fund Revenue Expenditure Impact Increase Increase Increase (Decrease) (Decrease) (Decrease) $ 67,000 $ 224,486 $ (157,486) 5,948,500 5,299,350 649,150 - 1,924,924 (1,924,924) (7,287,000) (7,061,088) (225,912) 786,459 754,459 32,000 608,469 608,469 - 508,163 508,163 - $ 631,591 $ 2,258,763 $ (1,627,172) -0 X v (D (Q W (D O W � O Z O N O O N N A Exhibit "B" Moorpark Redevelopment Agency Mid Year Budget Amendment for the 2009/2010 Fiscal Year Object current Current Amended Budget Unit Code Fund/Olvision Description Budget Actual Revision Budget Explanation REVENUE: 2901 3015 Low/Mod Housing HOPTR $ $ 4,388 $ 6,000 $ 6,000 Taxes previously budgeted in another fund 2901 3020 Low/Mod Housing Tax Increment Secured 582,604 1,223,000 1,223,000 Taxes previously budgeted in another fund 2901 3021 Low/Mod Housing Tax Increment Unsecured 177,752 178,000 178,000 Taxes previously budgeted in another fund 2901 3721 Low/Mod Housing Tax Increment Transfer In 1,340,000 - (1,340,ODO) - Eliminate unnecessary transfer Subtotal 67,000 2902 3015 MRA Operations HOPTR 12,287 24,000 24,D00 Taxes previously budgeted in another fund 2902 3020 MRA Operations Tax Increment Secured 1,175,600 3,172,D00 3,172,000 Taxes previously budgeted in another fund 2902 3021 MRA Operations Tax Increment Unsecured 712,D00 712,D00 Taxes previously budgeted in another fund 2902 3720 MRA Operations Transfer from Other Funds - 1,857,500 1,857,500 Caltrans property acquisition 2902 3400 MRA Operations Investment Earnings 23,898 183,000 183,000 Move budget from 3900 fund Subtotal 5,948,500 3900 3015 MRA Debt Service HOPTR 30,000 - (30,000) Move budgets to other funds 3900 3020 MRA Debt Service Tax Increment Secured 6,D00,000 (6,000,000) Move budgets to other funds 3900 3021 MRA Debt Service Tax Increment Unsecured 890,000 (890,000) Move budgets to other funds 3900 3400 MRA Debt Service Investment Earnings 215,000 (215,000) Move budgets to other funds 3900 3720 MRA Debt Service Transfer from Other Funds 152,000 (152,000) Move budgets to other funds Subtotal (7,287,000) 3901 3020 MRA 99 TAB Tax Increment Secured 38,185 603,506 603,506 Move budgets from 3900 and adjust 3901 3400 MRA 99 TAB Investment Earnings 16,441 32,000 32,000 Move budgets from 3900 and adjust 3901 3720 MRA 99 TAB Transfer born Other Funds 150,953 150,953 150,953 Move budgets from 3900 and adjust Subtotal 786,459 3902 3020 MRA 01 TAB Tax Increment Secured 608,469 608,469 608,469 Move budgets from 3900 Subtotal 608,469 3803 3020 MRA O6 TAB Tex Increment Secured 508,163 608,163 508,163 Move budgets from 3900 Subtotal 508,163 Total revenue $ 631,591 -0 X v (D (Q W (D O W � O Z O N O O N N A Budget Unit Object Code Fund/DWlsion Exhibit "B" Moorpark Redevelopment Agency Md Year Budget Amendment for the 200912010 Fiscal Year Current Current Amended Description Budget Actual Revision Budget Explanation cc (D Cn (D O ,A E' Z EXPENDITURES: O 2901 - 2420 -0000 9282 Low/Mod Income Housing Loans $ S 191,791 $ 224,486 $ 224,498 Area housing authority pre - development ben NO Subtotal 224,486 C) 2902 - 2410 -5040 9252 Redevelopment Agency Property Maintenance 1,805 10,241 11,236 13,041 Fire damage at 33 High St bathroom N 2902 9270 Redevelopment Agency Pass Through 8,871 3,200,000 3,200,000 Pass through payments N 2902 9287 Redevelopment Agency ERAF Payment to State 1,925,105 1,925,105 ERAF payment to County of Ventura A 2902 9452 Redevelopment Agency Collection Admin Fee 7,740 15,000 15,000 Ventura County tax administration fee 2902 9701 Redevelopment Agency Debt Service Interest- Loans - - 150,000 150,000 $5M loan interest no longer in the 3900 fund 2902 - 8310.8039 9601 Redevelopment Agency Design/Engineering 68,607 163 (946) 67,661 Reduce budget after CIP to correspond with 2603 increase 2902. 8310 - 8056 9601 Redevelopment Agency Design/Engineering 2,112 (1,045) 1,067 Reduce budget after CIP to correspond with 2603 increase Subtotal 5,299,350 2904 9820 MRA Bonds Proceeds 2001 Transfer to Other Funds - 1,899,500 1,899,500 Cover interfund budget adjustments 29042410. 5035 9603 MRA Bonds Proceeds 2001 Construction Permits 21,924 21,924 21.924 CEQA review of project 29042410 -5063 9820 MRA Bonds Proceeds 2001 Transfer to Other Funds - - 3,600 3,500 Caftrans property acquisition Subtotal 1,924,924 3900 9270 MRA Area 1 Debt Service Tax Increment Pass Thru 3,700,000 (3,700,000) Move budget to fund 3901 3900 9701 MRA Area 1 Debt Service Debt Service Interest- Loans 150.000 (160,000) Move budget to fund 2902 3900 9720 MRA Area 1 Debt Service Debt Service Interest- Bonds 1,376,088 (1,376,088) Move budget to funds 3901, 3902 & 3903 3900 9730 MRA Area 1 Debt Service Debt Service Principal - Bonds 496.000 (495,000) Move budget to funds 3901, 3902 & 3903 3900 9821 MRA Area 1 Debt Service Tax Increment Transfer to L &M 1,340,000 (1,340,000) Ebminabng transfer /directy recorded in revenue Subtotal (7,061,088) 3901 9720 99 MRA TAB Debt Service Debt Service Interest- Bonds 145,519 279,459 279,459 Move budget from 3900 3901 9730 99 MRA TAB Debt Service Debt Service Principal - Bonds 475,000 475,000 475.000 Move budget from 3900 Subtotal 754,459 3902 9720 01 MRA TAB Debt Service Debt Service Interest- Bonds 294,442 588,469 588,469 Move budget from 3900 3902 9730 01 MRA TAB Debt Service Debt Service Principal - Bonds 20,000 20,000 20,000 Move budget from 3900 Subtotal 608,469 3903 9720 06 MRA TAB Debt Service Debt Service Interest- Bonds 254,061 508,163 608,163 Move budget from 3900 Subtotal 508.163 Total expendittves S 2,25 &763 Resolution No. 2010 -224 Page 5 STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss. CITY OF MOORPARK ) I, Maureen Benson, Assistant Secretary of the Redevelopment Agency of the City of Moorpark, California, do hereby certify under penalty of perjury that the foregoing Resolution No. 2010 -224 was adopted by the Redevelopment Agency of the City of Moorpark at a regular meeting held on the 17th day of February, 2010, and that the same was adopted by the following vote: AYES: Agency Members Mikos, Millhouse, Pollock, Van Dam, and Chair Parvin NOES: None ABSENT: None ABSTAIN: None WITNESS my hand and the official seal of said City this 25th day of February, 2010. Maureen Benson, Assistant Secretary (seal) * FSTABUSIHED CH Ia. �ee� Q /FO Cln' of vd'