HomeMy WebLinkAboutAGENDA REPORT 2014 0305 CCSA REG ITEM 10C ITEM 10.C.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
MOORPARK CITY COUNCIL
AGENDA REPORT ACTION .
.ra m o -3/9S'.
TO: Honorable City Council
BY: S-
FROM: Ron Ahlers, Finance Director Wv
DATE: February 18, 2014 (City Council Meeting of March 5, 2014)
SUBJECT: Consider the Resolution Amending Resolution No. 2013-3198 to
Revise Exhibit B Budget Amendment to Reallocate 161 Second
Street Park Funding from Endowment Fund to Redevelopment Bond
Proceeds Funds
SUMMARY
On June 19, 2013, the City Council adopted the Operating and Capital Improvement
Budget for Fiscal Year (FY) 2013/2014. Exhibit B to the resolution adopting the budget
reallocated money for the construction of 161 Second Street Park. This exhibit
contained typographical errors, using incorrect fund account numbers. The attached
resolution corrects these typographical errors for the funding of 161 Second Street Park.
DISCUSSION
Resolution No. 2013-3198 included Exhibit A - Operating and Capital Improvement
Budget for FY 2013/2014; Exhibit B - Budget Amendment to Reallocate $550,925 for
161 Second Street Park Funding from Endowment Fund to Redevelopment Bond
Proceeds Funds; and Exhibit C - Budget Amendment to Allocate $100,000 from the
General Fund for Salary and Benefit Adjustments. Staff found typographical errors in
Exhibit B relating to the fund account numbers for RDA-SA 2001 and 2006 Tax
Allocation Bond (TAB) Proceeds Funds. The correct fund-account numbers for RDA-
SA 2001 TAB Proceeds Fund and RDA-SA 2006 TAB Proceeds Fund are 9103 and
9104, respectively.
The project funding from the bond proceeds has been approved by the Oversight Board
and the State Department of Finance (DOF) on the Recognized Obligation Payment
Schedule (ROPS) for July to December 2013 and for January to June 2014.
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Honorable City Council
March 5, 2014
Page 2
FISCAL IMPACT
None. This resolution corrects typographical errors.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
Adopt Resolution No. 2014-___ _
Attachment: Resolution No. 2014-
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Honorable City Council
March 5, 2014
Page 3
RESOLUTION NO. 2014 -__
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING RESOLUTION NO.
2013-3198, TO REVISE ATTACHMENT EXHIBIT B TO
REFLECT THE CORRECT FUND ACCOUNT NUMBERS
RELATING TO THE RE-ALLOCATION OF 161 SECOND
STREET PARK PROJECT (GIP 5081) TO THE RDA-SA 2001
TAX ALLOCATION BOND PROCEEDS FUND (9103) AND
RDA-SA 2006 TAX ALLOCATION BOND PROCEEDS FUNDS
(9104)
WHEREAS, on June 19, 2013 the City Council adopted Resolution No. 2013-
3198 covering Exhibit A the Operating and Capital Improvement Budget for Fiscal Year
2013/2014; Exhibit B Budget Amendment re-allocating 161 Second Street Park funding
of $550,925 from Endowment Fund to the RDA-SA 2001 and 2006 Tax Allocation Bond
(TAB) Proceeds Funds; and Exhibit C Budget Amendment allocating $100,000 from
General Fund for salary and benefit adjustments; and
WHEREAS, a staff report has been presented to City Council discussing
typographical errors found in Exhibit B relating to the fund account numbers associated
with RDA-SA 2001 TAB Proceeds Fund and RDA-SA 2006 TAB Proceeds Funds; and
WHEREAS, the fund account numbers for RDA-SA 2001 TAB Proceeds Fund
should be changed from 9104 to 9103 and RDA-SA 2006 TAB Proceeds Fund should
be corrected from 9105 to 9104; and
WHEREAS, Exhibit "A" hereof describes said amendment to the former Exhibit B
of Resolution No. 2013-3198.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That Resolution No. 2013-3198 is hereby amended to revise
Exhibit B, Budget Amendment for Endowment Fund and Redevelopment Tax Allocation
Bond Proceeds Funds Reallocate 161 Second Street park Funding from Endowment
Fund to Redevelopment Bond Proceeds Funds, as more particularly described in
Exhibit "A" attached hereto is hereby approved.
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Honorable City Council
March 5, 2014
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SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 5th day of March, 2014.
Janice S. Parvin, Mayor
ATIEST:
Maureen Benson, City Clerk
Attachment: Exhibit A -Budget Amendment
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Honorable City Council
March 5, 2014
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EXHIBIT A
Endowment Fund and Redevelopment Tax Allocation Bond Proceeds Funds
Re-allocate 161 Second Street Park Funding from Endowment Fund to
Redevelopment Bond Proceeds Funds
FY 2013/14
FUND ALLOCATION FROM:
FUND TITLE FUND ACCOUNT NUMBER AMOUNT
Endowment Fund 2800-5500 ($ 550,925)
RDA-SA 2001 TAB Proceeds Fund 9103-5500 $ 386,675
RDA-SA 2006 TAB Proceeds Fund 9104-5500 $ 164,250
Total $0
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Amended
Account Number Current Budget Revision Budget
2800-2410-5081-9613 $ 305,425 ($ 305,425) $0
2800-2410-5081-9631 $ 81,250 ($ 81,250) $0
2800-2410-5081-9633 $ 144,250 ($ 144,250) $0
2800-2410-5081-9625 $ 20,000 ($ 20,000) $0
9103-2411-5081-9613 $0 $ 305,425 $ 305,425
9103-2411-5081-9631 $0 $ 81,250 $ 81,250
9104-2411-5081-9625 $0 $ 20,000 $ 20,000
9104-2411-5081-9633 $0 $ 144,250 $ 144,250
Total $ 550,925 $0 $ 550,925
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