The URL can be used to link to this page

Home My WebLink AboutOB-088RESOLUTION NO. OB - 088 A RESOLUTION OF THE OVERSIGHT BOARD OF DIRECTORS FOR THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY APPROVING A PROPOSED ADMINISTRATIVE BUDGET FOR THE SIX-MONTH FISCAL PERIOD FROM JANUARY 1, 2015 THROUGH JUNE 30, 2015 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 34177(j), the Successor Agency to the Palm Desert Redevelopment Agency (the "Successor Agency") must prepare a proposed administrative budget for each six-month fiscal period (commencing each January 1 and July 1) and submit each proposed administrative budget to the oversight board for the Successor Agency (the "Oversight Board") for approval. B. A proposed administrative budget for the Successor Agency for the six- month fiscal period from January 1, 2015 through June 30, 2015 ("Administrative Budget No. 5") has been presented to this Board for approval, and is attached hereto as Exhibit A. NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. The Oversight Board hereby approves the proposed Administrative Budget No. 5 substantially in the form attached hereto as Exhibit A. Section 3. The officers of the Oversight Board and staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution. G \rda\Veronica Tapta\Word riles \Staff Reports\Oversight Board \Staff Reports\OB Resolution Approving Administrative Budget 7'7-I5-14 docx RESOLUTION NO. OB - 088 PASSED, APPROVED AND ADOPTED this 1LL' day of September, 2014. AYES: BUCK, CARVER, JONATHAN, KINNAMON, LARSON, RODRIGUEZ, and SPIEGEL NOES: NONE ABSENT: NONE ABSTAIN: NONE Zt OBERT A. SP1EG , Cyr HAIF( ATTEST: RA HELLE D. KLASS _N, SECRETAR OVERSIGHT BOARD FOR THE SUCC�SSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY G rda'Veronica Tapia\Word Files Staff Reports\Oversight Board\Staff Reports\OB Resolution Approving Administrative Budget 7 9-1. -14 docu RESOLUTION NO. OB - 088 Successor Agency to the Palm Desert Redevelopment Agency Jan1, 2015 through June 30, 2015 BASED ON ESTIMATED RPTTF DEPOSIT Jan 1 - Jun 30, 2015 Estimated @ 3% Administrative Cost Allowance 690,488 ROPS 14-15B Budget ADMINISTRATIVE COSTS Jan 1 - June 30, 2015 Auditing Service 1,000 Bank Fees 5,500 Consulting Services 20,000 Facilities Lease 34,000 Legal Services 100,500 Personnel Expenditures' 529,488 Total Administrative Costs 690,488 A - Administrative Allowance, B - City General Fund 1 Includes salaries, training, travel, meetings, supplies, etc. 2 Source of Payment A A A A A A, B 2City staff time reimbursement costs in excess of SARDA allowable administrative costs (as adjusted per Department of Finance) will be borne by the City's General Fund. 8/29/2014 4:34 PM Proposed Administrative Budget - June 30, 2015 RESOLUTION NO. OB - 088 [THIS PAGE LEFT INTENTIONALLY BLANK.]