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HomeMy Public PortalAbout2015.109 (07-07-15)RESOLUTION NO. 2015.109 A RESOLUTION OF 'THE CITY COUNCIL OF THE CITY OF LYNWOOD AS SUCCESSOR AGENCY TO THE LYNWOOD REDEVELOPMENT AGENCY ADOPTING THE FY 2015 -16 SUCCESSOR AGENCY BUDGET WHEREAS, the City Council as Successor Agency to the Lynwood Redevelopment Agency reviewed the City Manager's Fiscal Year 2015 -16 Proposed Budget for the Successor Agency attached as Exhibit "C "; and WHEREAS, the agenda for the July 7, 2015 meeting of the City Council as Successor Agency to the Lynwood Redevelopment Agency was duly posted, and the City Manager's Fiscal Year 2015 -16 Proposed Budget for the Successor Agency and all related agenda material were made available to all interested parties. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS: Section 1. The Successor Agency budget for Fiscal Year 2015 -16 is hereby adopted as presented in the City Manager's FY 2015 -16 Proposed Budget. Section 2. The City Manager or his designee is hereby authorized to approve any transfer between accounts, provided that they are within the same department and the same fund. Section 3. This Resolution shall go into effect immediately upon its adoption. PASSED, APPROVED and ADOPTED this 7t" day of July, 2015. ATTEST: Maria Quinonez, City Clerk APPROVED AS TO FORM: David A. Garcia, City Attorney APPROVED AS TO CONTENT: J. Arnoldo Beltran, City Manager Amanda Hall, Finance Director STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a regular meeting held on the 7th day of July, 2015. AYES: COUNCIL MEMBERS CASTRO, SANTILLAN -BEAS AND SOLACHE NOES: COUNCIL MEMBERS ALATORRE AND HERNANDEZ ABSENT: NONE ABSTAIN: NONE Maria Quinonez, City Clerk STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2015.109 on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 7th day of July, 2015. Maria Quinonez, City Clerk City of Lynwood Exhibit C FY 16 Proposed Successor Agency Budget FY 15 Adopted FY 15 Year -End Estimates FY 16 City Manager proposed Budget Revenues Redevelopment Property Tax Trust Fund RPTTF Revenues $ 4,198,920 $ 3,453,525 $ 2,849,790 Administrative Allowance 250,000 250,000 250,000 Total: $ 4,448,920 $ 3,703,525 $ 3,099,790 Expenditures Administrative Allowance $ 250,000 $ 250,000 $ 250,000 Project Staffing Costs 405,000 323,814 195,000 ROPS Obligations 3,816,049 3,705,251 3,674,367 Total: $ 4,471,049 $ 4,279,065 $ 4,119,367 Use of Reserves /(Surplus) $ 22,129 $ 575,540 $ 1,019,577 Beginning Fund Balance $ 4,590,203 $ 4,590,203 $ 4,014,663 Ending Fund Balance $ 4,568,074 $ 4,014,663 $ 2,995,086