HomeMy WebLinkAboutAGENDA REPORT 2012 0620 CC REG ITEM 10H ITEM 1O.H.
City Council Meeting
MOORPARK CITY COUNCIL
AGENDA REPORT ACTION:
TO: Honorable City Council
FROM: Ron Ahlers, Finance DirectorQA--�
DATE: June 5, 2012 (City Council Meeting of June 20, 2012)
SUBJECT: Consider Recording as General Fund Revenue the Library Pass
Through Payment from the County of Ventura
BACKGROUND
During December 2011 the City issued checks to Ventura County for the Library portion
of the pass through agreements. Staff issued the checks to the County with the
understanding that these dollars would be returning to the City. The City recently
received the Library pass through payments from the County of Ventura for the prior
three fiscal years in the amount of $351,151.84. For this current year, AB 26 transfers
the duties of calculating the pass through payments from the former redevelopment
agency to the County of Ventura. Staff anticipates receiving a check in the approximate
amount of$120,000.
DISCUSSION
During the recent Council budget workshop staff recommended that the Library portion
of the pass through payments be receipted into the General Fund. The estimated
amount of $120,000 was one of the actions that balanced the General Fund in fiscal
year (FY) 2012/13. The City Council concurred with this recommendation. This report
will formalize that action.
FISCAL IMPACT
In late May 2012 the City received the Library pass through payment from the County in
the amount of $351,151.84 for fiscal years 2008/09, 2009/10, and 2010/11. In the near
future the City expects to receive approximately $120,000 for FY 2011/12. Therefore,
the total amount for this current FY 2011/12 will be about $470,000 in General Fund
revenue.
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Honorable City Council
June 20, 2012
Page 2
The City estimated $120,000 in revenue for FY 2012/13. This $120,000 is the annual
amount the City expects to receive each year during the life of the Successor Agency.
STAFF RECOMMENDATION (Roll Call Vote)
Authorize the Finance Director to record the Library pass through payments as General
Fund revenue.
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