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Home My WebLink AboutOB-131RESOLUTION NO. OB - 131 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, 2016 THROUGH JUNE 30, 2016 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, 2016 through June 30, 2016 ("Administrative Budget No. 9") 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 `,da\Veronica TaprarWord Files\Staff Reports\Oversight Board\Staff Reports\OB Resolution Approving Administrative Budget 9 9-21-15 docx RESOLUTION NO. OB-131 PASSED, APPROVED AND ADOPTED this 21 st day of September, 2015. AYES: BUCK, CARVER, KINNAMON, RODRIGUEZ, and SPIEGEL NOES: NONE ABSENT: JONATHAN and LARSON ABSTAIN: NONE ROBERT A. SPIEL , C 4/Z' ‘,?! ATTEST: R ` ELLE D. KLASSENJSECRETARY OVERSIGHT BOARD FOR THE SUCCESS•R AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY G UdaWeromca Tapia\Word FdesStaff Rcports'Ovcrsight Board\Staff Repors\OB Resolution Approving Administrative Budget 9 9-21-15 docx RESOLUTION NO. OB-131 Successor Agency to the Palm Desert Redevelopment Agency January 1, 2016 through June 30, 2016 BASED ON ESTIMATED RPTTF DEPOSIT Jan 1 - Jun 30, 2016 Estimated @ 3% Administrative Cost Allowance 494,412 ROPS 15.16E Budget Source of ADMINISTRATIVE COSTS Jan 1 - Jun 30, 2016 Payment Auditing Service 10,000 A Bank Fees 30,000 A Consulting Services 25,000 A Facilities Lease 36,000 A Legal Services 50,000 A Personnel Expenditures' 343,412 2 A, B Total Administrative Costs 494,412 A - Administrative Allowance, B - City General Fund ' Includes salaries, training, travel, meetings, supplies, etc. 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. 9/14/2015 12:03 PM Proposed Administrative Budget - June 30, 2016 RESOLUTION NO. OB-131 [THIS PAGE LEFT INTENTIONALLY BLANK.]