HomeMy WebLinkAbout02-04 RDA Resolution
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RESOLUTION NO. RDA 02-04
A RESOLUTION OF THE TEMECULA REDEVELOPMENT
AGENCY AMENDING THE FISCAL YEAR 2001-02 ANNUAL
OPERATING BUDGET
WHEREAS, each year a mid-year review is conducted of the Temecula Redevelopment
Agency (RDA) operating budget.
WHEREAS, the purpose of this review is to conduct an analysis of revenues and
expenditures to ensure that the RDA maintains a prudent and healthy fiscal position.
WHEREAS, the mid-year review has been completed and the recommended
adjustments are reflected in the attached schedules, hereto as Exhibit A.
The Board of Directors does hereby resolve as follows:
Section 1. That the Fiscal Year 2001-02 RDA operating budget is amended in
accordance with the attached schedules.
PASSED, APPROVED AND ADOPTED, by the Redevelopment Agency of the City of
Temecula, this 5th day of March, 2002.
ATTEST:
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R:/RDA Resos 2002lRDA 02-04
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STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE) ss
CITY OF TEMECULA )
I, Susan W. Jones, CMC, Secretary of the Temecula Redevelopment Agency of the City
of Temecula, do hereby certify that the foregoing Resolution No. RDA 02-04 was duly adopted
by the Board of Directors of the Temecula Redevelopment Agency at a regular meeting thereof
held on the 5th day of March, 2002, by the following vote:
AYES:
5
AGENCY MEMBERS: Naggar, Pratt, Stone, Roberts, Comerchero
NOES:
o
AGENCY MEMBERS: None
ABSENT:
o
AGENCY MEMBERS: None
ABSTAIN:
o
AGENCY MEMBERS: None
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2001-02 TEMECULA
REDEVELOPMENT AGENCY
MID-YEAR BUDGET
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TEMECULA REDEVELOPMENT AGENCY
,MMARY OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCES
1-{J2 MID-YEAR OPERATING BUDGET
2001-02 2001-02 2001-02 Proposed %
2OOO-Ql YTD Current Proposed Increase Increase
Actual @ 12/31/01 Budget Budget (Decrease) (Decrease)
Total Revenues- 11 ,352.313 593.086 9.914.000 11,122,856 1,208,856 12.2%
Total Non-CIP Expenditures by Fund":
Low/Moderate Income Housing 355,852 173.811 848,150 648,150
Redevelopment 855,379 180.489 969,827 1.132,202 162,375 16.7%
Debt Service 7.213,949 398.185 8,508,640 7.395.470 (1,113,170) -13.1%
Total Expenditures 8.225,180 752.485 10,126,617 9.175,822 (95O.795) -9.4%
Excess of Revenues Over (Under)
Expenditures 3,127,133 (159,379) (212,617) 1.947,034 2,159,651
Other Financing Sources:
Deferred Passthrough/lnterest 1.153.119 2,157,000 (2.157,000)
Advances from Other Funds 75,749 37,875
Excess of Revenues and Other Financing
Sources Over (Under) Expenditures 4,356,001 (121,504) 1 ,944,383 1.947,034 2,651
I Operatin9 transfer between Debt Service snd Redevelopment funds is not reflected
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REDEVELOPMENT AGENCY
REVENUE DETAIL
FY 2001-02 MIDYEAR BUDGET
FY 00-01 FY 01-02 FY01-02 YTD% FY 01-02 CHANGE %
165 LOWIMOD HOUSING FUND ACTUALS YTD 12/31101 ORIG EST OF BDGT REVISED EST IN EST CHANGE
4015 -Tax Increment 1,860,100 30,876 1,867,000 1.7% 2,084,234 217,234 11.6%
4050 -Miscellaneous 17,282 394 7,000 5,6% 7,000
4065 ~nvestment 1_ 267,066 106,325 165,000 64.4% 165,000
4066 -Loan Interest 25,150 5,598
4075 -Rental Income 7,167 15,706 30,000 52.4% 30,000
4077 -Fotgivable Loan Repayment 95,873
TOTAL LOWIMOD HOUSING FUND 2 639 158 898 069 000 7,7% 2 286 234 217 234 10,5%
ACCT FY 00-01 FY 01-02 FY01-02 YTD% FY 01-02 CHANGE %
NO 280 REDEVELOPMENT FUND ACTUALS YTD ""12/31101 ORIG EST OF BDGT REVISED EST IN EST CHANGE
4058 -MisceDaneous 90
4050 -Miscellaneous Non Taxable 2,480 330
4065 -Investment 1_ 143,136 19,232 30,000 64.1% 30,000
4066 -Loan Inlet'esl 15,295 8,485 14,000 60.6% 14,000
4072 -Sale of Property
4075 -Rental Income 123,393 90,000 180,000 180,000
4076 -Reimbursements 1,143,063 125,682 125,682 125,682
4090 -Operating Transfers In 955,000 404,000 2,645,680 15.3% 2,808,055 162,375 6.1%
TOTAL REDEVELOPMENT FUND 2 382 357 647 819 2869680 22.6% 3157737 288 057 10.0%
FY 00-01 FY 01-02 FY 01-02 YTD% FY 01-02 CHANGE %
380 DEBT SERVICE FUND ACTUALS YTD 12/31.01 ORIG EST OF BDGT REVISED EST IN EST CHANGE
-Tax Increment 7,440,399 123,503 7,471,000 1.7% 8,336,940 865,940 11.6%
-Investment Interest 211,908 66,856 150,000 44.6% 150,000
4092 -Deferred Passthrough 1,153,119 2,157,000 (2,157,000) -100.0%
4093 -Advances from Other Funds 75,749 37,875
4800 -Bond Proceeds
TOTAL DEBT SERVICE FUND 8681 175 228 244 9 778 000 2.3% 8 486 940 1 291 060 -13.2%
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