HomeMy WebLinkAboutRDA RES 490RESOLUTION NO.490
A RESOLUTION OF THE PALM DESERT REDEVLEOPMENT AGENCY, PALM
DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2003-04 BUDGET AS A
RESULT OF MID YEAR ADJUSTMENTS
WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise
the 2003-04 Budget;
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency, Palm
Desert, California, that the 2003-04 Budget is hereby revised as follows:
1. The amount shown in the column entitled "Revised Appropriations" in the
table entitled "Palm Desert Redevelopment Agency, Mid Year 2003-04 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 2003-04.
2. The amounts shown in the column entitled "Revised Estimated Revenues"
in the tab entitled "Redevelopment Agency, Mid -Year 2003-04 Budget Review,
Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby
accepted as the Estimated Revenues for the 2003-04 Fiscal Year for each fund
and revenue source.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm
Desert Redevelopment Agency held on this 11th day of March 2004, by the
following vote to wit:
AYES: BENSON, CRITES, KELLY, SPIEGEL
NOES: NONE
ABSENT: FERGUSON
ABSTAIN: NONE
ROBERT A. SPIEtEL,HbIRMAN
ATTEST:
achelle D. Klassen, Secretary'
Palm Desert Redevelopment Agency
Resolution No.490
Exhibit "A"
PALM DESERT REDEVELOPMENT AGENCY
MID -YEAR 2003-04 BUDGET REVIEW
REVISED APPROPRIATIONS
OPERATING BUDGET
FUND/ CHANGE REVISED *
DEPARTMENT INC/(DEC) APPROPRIATIONS
Project Area No. 4
Prof. - Legal
Prof. - Other Consultants
Debt Service PA No. 1
Debt Service
ERAF Payment
Pass -Through Payments
Housing Set -Aside Transfer
Debt Service PA No. 2
Debt Service
ERAF Payment
Pass -Through Payments
Housing Set -Aside Transfer
Debt Service PA No. 3
Debt Service
ERAF Payment
Pass -Through Payments
Housing Set -Aside Transfer
10,000
5,000
622,778
1,339,179
580,674
291,263
651,520
410,657
676,451
129,172
293,747
72,187
343,391
129,172
4,347,000
30,816,396
11,305,412
1,660,311
Debt Service PA No. 4 7,789,099
Debt Service
ERAF Payment 291,687
Pass -Through Payments 356,357
Housing Set -Aside Transfer 116,245
Capital PA No.1 500,000 7,711,598
Capital PA No.2 (500,000) 2,900,000
Capital PA No.3 75,000 2,867,600
Capital PA No.1 804,000 5,126,000
Financing Authority 17,464,528
Interest Expense 771,512
Principal Expense 650,000
Original Budget plus Change =Revised
PALM DESERT REDEVELOPMENT AGENCY
MID -YEAR 2003-04 BUDGET REVIEW
REVISED ESTIMATED REVENUES
FUND
Project Area No. 1
Tax Increment
Project Area No. 2
Tax Increment
Project Area No. 3
Tax Increment
Project Area No. 4
Tax Increment
Housing Set Aside
Transfer In PA No. 1
Transfer In PA No. 2
Transfer In PA No. 3
Transfer In PA No. 4
Financing Authority
Transfers from Debt
Service Funds - RDA
Original Budget plus Increase = Adjusted Budget
ADJUSTED
INCREASE BUDGET"
1,547,311 32,908,927
1,043,967 11,722,998
645,857 2,042,698
581,226 8,005,689
10,865,863
291,263
208,794
129,172
116,245
1,578,482
17,814,528
Resolution No.49O
Exhibit "B"