HomeMy WebLinkAboutRDA RES 435RESOLUTION NO. 435
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY
BOARD, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR
200,i-2002 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS
WHEREAS, as a result of a Mid -Year review of the budget, it is desirable to revise
the 2001-2002 Budget;
NOW, THEREFORE, BE IT RESOLVED by the Palm Desert Redevelopment
Agency Board, Palm Desert, Califomia, that the 2001-2002 Budget is hereby revised as
follows:
1. The amounts shown in the column entitled "Revised Appropriations" in the
table entitled "Palm Desert Redevelopment Agency, Mid -Year 2001-02 Budget Review,
Revised Appropriations Operating Budget", attached hereto as Exhibit "A", are hereby
appropriated to the departments, activities and projects identified therein as the Operating
Budget for 2001-02.
2. The amounts shown in the column entitled "Revised Estimated Revenues" in
the tab entitled "Redevelopment Agency, Mid -Year 2001-02 Budget Review, Revised
Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the
Estimated Revenues for the 2001-02 Fiscal Year for each fund and revenue source.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert
Redevelopment Agency Board held on this 14th day of February 2002, by the following
vote, to wit:
AYES: BENSON, CRITES, FERGUSON, SPIEGEL, KELLY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
Richard S. Kelly, Chairman J
ATT5ST:
Sheila R. GilJligan, %'ecretary. .
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REDEVELOPMENT AGENCY:
Fund 850 - Project Area #1/Capital
Fund 850 - Business Support
Fund 853 - Project Area #3/Capital
Fund 860 - Project Area #1/Debt
- Project Area #2/Debt
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Fund 863 - Project Area #3/Debt
Project Area #4/Debt
Fund 870 - Low & Mod Set -Aside
RES: No. 435
Exhibit "B"
PALM DESERT REDEVELOPMENT AGENCY
MID -YEAR 2001/2002 BUDGET REVIEW
REVISED ESTIMATED REVENUES
SUMMARY OF CHANGES
Adjusted Budget Increase
Fund 860 - Debt Service #1 26,771,556 2,340,021 Increase in Tax Increment
Fund 861 - Debt Service #2 8,615,348 368,620 Increase in Tax Increment
Fund 863 - Debt Service #3 1,219,009 142,738 Increase in Tax Increment
Fund 864 - Debt Service #4 6,234,401 1,053,648 Increase in Tax Increment
Fund 870 - Low & Mod Set -Aside 8,918,106 1,184,906 Increase in Transfers -In due to
higher Tax Increment, and Increase
in sales of lots.