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