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LRA - RESOLUTION N0.
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT
AGENCY AMENDING THE ANNUAL REVENUE BUDGET
FOR FISCAL YEAR 1992-93
WHEREAS, the Agency Board Members have adopted an
Annual Operating Budget for F.Y. 1992-93; and
WHEREAS, the 1992 California Budget Act requires
redevelopment agenc~ps t1 shift a total of $200 million in
property tax revenues to school districts; and
WHEREAS, the State Department of Finance has
determined that $190,682.73 of the Lynwood Redevelopment Agency
tax revenues will be allocated to the County Educational Revenue
Allocation Fund (ERAF); and
WHEREAS, this reduction in tax increment revenues
was not included in the current year's revenue budget; and
WHEREAS, a budget amendment is needed to reflect
these changes in tax increment revenues
NOW THEREFORE, the Chairman and Agency Board
Members does hereby find, order and proclaim as follows:
Section 1_ That amendments to the Revenue Budget
for Fiscal Year 1992-93 is hereby approved.
92-27
Section 2. That the Executive Director or his
designee is authorized to make the following budget amendments:
Acct. No Description From To Variance
Tax Increment Funds:
14-4010 Tax Incre-Secured $978,500
14-4011 Tax Incre-Unsecured 206,000
14-4015 Supplemental Tax 58,000
24-4010 Tax Incre-Secured 400,000
24-4011 Tax Incre-Unsecured 105,000
24-4015 Supplemental Tax 50,000
Total $1,797,500
$852,308
188,759
50,612
383,265
87,963
43.910
(126,192)
(17,241)
(7,388)
(16,735)
(17,037)
(6,090)
($190,683)
$1,606,817
Transfers-In/Out:
14-5180 Trans-Out(26) $250,500
26-4180 Trans-In(14) 250,500
24-5180 Trans-Out(24) 1'7,000
28-4180 Trans-In(28) 1~?_,000
Total $7~~,000
$220,336
220,336
109,028
109.028
(30, 1c~
(30,164)
(7,972)
(7,972)
($76,272)
$658,728
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Section 3. That this resolution shall go into
effect immediately upon its adoption,
PASSED, APPROVED and ADOPTED this 3rd day of
Novembex 1 9 9 2 .
ATTEST:
~ ,
Andrea ~. Hooper, Secretary
Lynwood Redevelopment Agency
APPROVED AS ,TO FORMS:
Ag~i~y/General Couns®1
o is airman
nwood edevelopment Agency
APPROVED AS TO CONTENT:
,~~
A etta F. Earnest
Director of Finance