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Home My WebLink About95-01 RDA ResolutionRESOLUTION NO. RDA 95-01 A RESOLUTION OF THE TEMECULA REDEVELOPMENT AGENCY AMENDING THE FISCAL YEAR 1994-95 ANNUAL OPERATING BUDGETS WHEREAS, each year a mid-year review is conducted of all Temecula Redevelopment Agency (RDA) operating budgets. 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 Schedules A through C of the RDA Low/Moderate Income Housing Set Aside Fund; the RDA CIP Fund; and the RDA Debt Service Fund. The Board of Directors does hereby resolve as follows: Section 1. That the Fiscal Year 1994-95 RDA Low/Moderate Income Housing Set Aside Fund Annual Operating Budget is hereby amended in accordance with Schedules A through C. Section 2. That the Fiscal Year 1994-95 RDA CIP Fund Annual Operating Budget is hereby amended in accordance with Schedules A through C. Section 3. That the Fiscal Year 1994-95 RDA Debt Service Fund Annual Operating Budget is hereby amended in accordance with Schedules A through C. PASSED, APPROVED AND ADOPTED this 28th day of March, 1995. Ronald I. Parks, Chairperson ATTEST: ~k, CMC,~~ City Clerk, Board Secretary [SEAL] Resos.Rda\95-01 I STATE OF CALIFORNIA) COUNTY OF RIVERSIDE) CITY OF TEMECULA) $$ I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the Temecula Redevelopment Agency at a regular meeting thereof, held on the 28th day of March, 1995, by the following vote of the Board of Directors: AYES: 4 AGENCY MEMBERS: Lindemans, Mufioz, Parks, Roberts NOES: 0 AGENCY MEMBERS: None ABSENT: 0 AGENCY MEMBERS: None ABSTAINED: 1 AGENCY MEMBERS: Stone June S. MC, City Clerk, Board Secretary Resos.Rda\95-01 2 SCHEDULE A Revenue Expenditures Excess of Revenues Over Expenditures Operating Transfers Increase (decrease) in Fund Balance Beginning Fund Balance, July 1, 1994 Est. Fund Balance, June 30, 1995 TEMECULA REDEVELOPMENT AGENCY LOW/MOD SET ASIDE 165 FUND SUMMARY FY 94-95 AMENDED BUDGET 1,565,095 $ 4,361,264 (2,796,169) FY 94-95 YTD @ 02/28/95 722,180 3,811,273 (3,089,093) (2,796,169) $ 5,074,999 2,278,829 (3,089,093) FY 94-95 YEAR-END PROJECTION 1,492,609 4,364,487 (2,871,878) (2,871,878) 5,074,999 2,203,121 17-Mar-95 SCHEDULE B ACCT NO 4015 4065 LOW/MOD SET ASIDE FUND -Tax Increment -Investment Interest TEMECULAREDEVELOPMENTAGENCY LOW/MOD SETASIDE REVENUE DETAIL BY FUNO SOURCE FY 94-95 FY 94-95 FY 94-95 VARIANCE BUDGET Y-I'D (~ YEAR-END INCREASE/ PROJECTION 02/28/95 PROJECTION (DECREASE) 1,425,095 140,000 620,253 101,927 1,237,609 255,000 (187,486) 115,000 165 TOTAL LOW/MOD SET ASIDE FUND 1,565,095 722,18O 1,492,609 (72,486) t 7-Mar-9~- SCHEDULE C 165 LOW/MOD FUND NON DEPT-DEPT 199 -Personnel Services -Operating Expenditures -Operating Expenditures -Capital Expenditures TOTAL LOW/MOD FUND TEMECULA REDEVELOPMENT AGENCY LOW/MOD SET ASIDE EXPENDITURE SUMMARY FY 94-95 FY 94-95 ADJUSTED Y'rD @ APPROPRIATION 02/28/95 14,262 1 O2,634 0 4,244,368 4,361,264 16,771 50,134 0 3,744,368 3,811,273 FY 94-95 MID-YEAR AMENDED BUDGET 17,485 102,634 0 4,244,368 4,364,487 VARIANCE INCREASE (DECREASE) 3,223 0 0 0 3,223 22.6% 0.0% 0.0% 0.0% 0.1% 17-Mar-95 SCHEDULE A Revenue Expenditures Excess of Revenues Over Expenditures Operating Transfers (Out) Increase (decrease) in Fund Balance Beginning Fund Balance, July 1, 1994 Est. Fund Balance, June 30, 1995 TEMECULAREDEVELOPMENTAGENCY ClP 280 FUND SUMMARY FY 94°95 AMENDED BUDGET 4,320,189 $ 1,921,465 2,398,724 (8,785,931) (6,387,207) $ 13,245,973 6,858,766 FY 94-95 YTD @ 02/28/95 4,111,307 734,861 3,376,446 0 3,376,446 $ $ FY 94-95 YEAR-END PROJECTION 4,503,439 2,102,129 2,401,310 (8,785,931) (6,384,621) 13,245,973 6,861,352 17-Mar-95 SCHEDULE B ACCT NO CIP FUND 4065 -Investment Interest 4066 -Loan Interest 4068 -Loan Fees 4072 -Sale of Property 4075 -Rental Income 4090 -Operating Transfers In TEMECULA REDEVELOPMENT AGENCY CIP FUND REVENUE DETAIL BY FUND SOURCE FY 94-95 FY 94-95 FY 94-95 VARIANCE BUDGET YTD @ YEAR-END iNCREASE/ PROJECTION 02/28/95 PROJECTION (DECREASE) 248,000 7,800 5OO 3,744,368 140,000 179,521 218,886 4,214 25O 3,744,368 143,589 0 400,000 7,800 500 3,744,368 171,250 179,521 152,000 0 0 0 31,25O 0 280 TOTAL CIP FUND 4,320,189 4,111,307 4,503,439 1 83,250 17-Mar-95 SCHEDULE C 280 CIP FUND NON DEPT-DEPT 199 -Personnel Services -Operating Expenditures -Operating Expenditures -Capital Expenditures Subtotal OPERATING TRANSFER OUT TOTAL CIP FUND TEMECULA REDEVELOPMENT AGENCY CIP EXPENDITURE SUMMARY FY 94-95 FY 94-95 ADJUSTED YTD @ APPROPRIATION 02/28/95 30,494 761,438 0 1,129,533 1,921,465 8,785,931 10,707,396 11,013 528,364 0 195,484 734,861 0 734,861 FY 94-95 MID-YEAR AMENDED BUDGET 60,122 912,474 0 1,129,533 2,102,129 8,785,931 10,888,060 VARIANCE INCREASE (DECREASE) 29,628 151,036 0 0 180,664 0 180,664 97.2% 19.8% 0.0% 0.0% 9.4% 0.0% 1.7% 17-Mar-95 SCHEDULE A Revenue Expenditures Excess of Revenues Over Expenditures Operating Transfers Increase (decrease) in Fund Balance Beginning Fund Balance, July 1, 1994 Est. Fund Balance, June 30, 1995 TEMECULA REDEVELOPMENT AGENCY DEBT SERVICE 380 FUND SUMMARY FY 94-95 FY 94-95 AMENDED YTD @ BUDGET 02/28/95 5,809,579 $ 2,533,792$ 4,672,968 1,898,496 1,136,611 635,296 0 0 1,136,611 $ 535,296 2,461,780 3,598,391 $ FY 94-95 YEAR-END PROJECTION 5,059,637 4,408,704 650,933 0 650,933 2,461,780 3,112,713 17-Mar-95 SCHEDULE B ACCT NO DEBT SERVICE FUND 4015 -Tax Increment 4065 -Investment Interest TEMECULA REDEVELOPMENT AGENCY DEBT SERVICE FUND REVENUE DETAIL BY FUND SOURCE FY 94-95 FY 94-95 FY 94-95 VARIANCE BUDGET YTD @ YEAR-END INCREASE/ PROJECTION 02/28/95 PROJECTION (DECREASE) 5,700.379 109,200 2,481,012 52,780 4,950,437 109,200 (749,942) 0 380 TOTAL DEBT SERVICE FUND 5,809,579 2,533,792 5,059,637 (749,942) 17-Mar-95 SCHEDULE C 380 DEBT SERVICE FUND NON DEPT-DEPT 199 -Personnel Services -Operating Expenditures -Operating Expenditures -Capital Expenditures TOTAL DEBT SERVICE FUND TEMECULA REDEVELOPMENT AGENCY DEBT SERVICE EXPENDITURE SUMMARY FY 94-95 FY 94-95 ADJUSTED YTD @ APPROPRIATION 02/28/95 0 4,672,968 0 0 4,672,968 0 1,898,496 0 0 1,898,496 FY 94-95 MID-YEAR AMENDED BUDGET 0 4,408,704 0 0 4,408,704 VARIANCE INCREASE (DECREASE) 0 (264,264) 0 0 (264,264) 0.0% -5.7% 0.0% O.O% -5.7% 17-Mar-95