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Home My WebLink AboutRDA RES 571RESOLUTION NO. 571 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY, PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2009-10 BUDGET AS A RESULT OF MID -YEAR ADJUSTMENTS ADDENDUM WHEREAS, as a result of Mid -Year review of the budget, it is desirable to revise the 2009-10 Budget; NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency, Palm Desert, California, that the 2009-10 Budget is hereby revised as follows: 1. The amount shown in the column entitled "Remaining Appropriations" in the table entitled "Palm Desert Redevelopment Agency, Mid -Year 2009-10 Budget Addendum, 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 2009- 10. 2. The amounts shown in the column entitled "Revised Estimated Revenues" in the tab entitled "Palm Desert Redevelopment Agency, Mid -Year 2009- 10 Budget Review, Revised Estimated Revenues", attached hereto as Exhibit "B", are hereby accepted as the Estimated Revenues for the 2009- 10 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 8th day of April 2010, by the following vote to wit: AYES: BENSON, FERGUSON, KELLY, SPIEGEL and FINERTY NOES: NONE ABSENT: NONE ABSTAIN: NONE l //UI1(/ !-f, Gt1 A Cindy Fine/, Chairman ATTEST: c el a D. . sen, ' ecretary G \rda\Veronica Tapia\Word Files\Staff Reports12009-10 RDA Midyear Budget Resolution doc Resolution No. 571 Exhibit 'A' PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2009-2010 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET Account Number Object 2009-10 Original Appropriation 2009-10 e Chan Midyear Revised 9 Adjustment Appropriation �o@ Midyear Explanation 850-4121-466.30-16 850-4195-466.21-10 850-4195-466.21-85 850-4195-466.30-20 850-4195-466.30-35 850-4195-466.30-92 850-4195-466.31-20 850-4195-466.31-25 850-4195-466.32-10 850-4195-466.36-10 850-4195-466.36-20 850-4416-414.36-81 PROF -LEGAL (LITIGATION) OFFICE SUPPLIES SPLY-PHOTOIGRAPHIC ARTS PROF -ACCOUNTING & AUDIT PROF -TEMPORARY HELP PROF -OTHER CONFERENCE/SEMINARS LOCAL MEETINGS REQ. LEGAL ADVERTISING PRINTING / DUPLICATING SUBSCRIPTIONS/PUBLICATION COURTESY CARTS 850.4430-422.30-90 PROF - OTHER 850-4430-422.36-30 DUES 850-4430-422.39-11 BUSINESS RETENTION PROGRAM 850-4511-442.30-90 PROFESSIONAL SERVICES 850-4511-442.36-30 DUES 851-4121-466.30-15 851-4195-466.31-20 851-4195-466.31-25 851-4195-466.32-10 853-4195-466.32-10 854-4195-466.32-10 860-4195-466.30-90 860-4195-466.36-47 860-4195-466.36-49 860-4199-499.50-90 861-4195-466.36-47 861-4195-66.36-9 861-4199-499.50-90 863-4195-466.36-47 863-4195-466.36-49 863-4199.499.50-90 864-4195-466.36-7 864-195-466.36-49 864-4199-499.50-90 PROF -LEGAL CONFERENCE/SEMINARS LOCAL MEETINGS REQ. LEGAL ADVERTISING REQ. LEGAL ADVERTISING REQ. LEGAL ADVERTISING Total Adjustments to Capital Budgets PROF -OTHER ADMINISTRATION PASS-THRU PAYMNT TO AGNC CA STATE ERAF PAYMENT TR OUT TI UM SET -ASIDE PASS-THRU PAYMNT TO AGNC CA STATE ERAF PAYMENT TR OUT TI UM SET -ASIDE PASS-THRU PAYMNT TO AGNC CA STATE ERAF PAYMENT TR OUT TI UM SET -ASIDE PASS-THRU PAYMNT TO AGNC CA STATE ERAF PAYMENT TR OUT TI UM SET -ASIDE Total Adjustments to Debt Service Budgets 870-4195-466.21-10 870-4195-466.31-20 870-4195-466.31-25 870-195-466.32-10 OFFICE SUPPLIES CONFERENCE/SEMINARS LOCAL MEETINGS REQ. LEGAL ADVERTISING 15,000 2,500 1,000 15,000 1,000 52,652 25,000 7,000 2,500 10,000 12,000 240,000 16,000 15,000 28,000 13,000 36,000 30,000 10,000 1,500 2,000 5,000 1,500 541,652 (5,000) (1,000) (500) (5,000) (500) (10,000) (5,000) (3,500) (1,000) (5,000) (10,000) (15,000) (10,000) (5,000) (18,000) 40,000 (15,000) (15,000) (5,000) (500) (1,000) (4,000) (750) (95,750) 25,000 (5,000) 19,173,023 856,406 15,386,631 9,646,537 532,634 7,675,103 (121,431) 5,374,282 3,630,484 (6,298) 2,076,429 231,427 1,036,368 829,552 109,278 6,743,578 188,871 3,728,934 2,514,640 102,427 52,314,348 27,414,528 1,000 2,500 1,000 2,500 (500) (750) (250) (1,250) 10,000 1,500 500 10,000 500 42,652 20,000 3,500 1,500 5,000 2,000 225,000 6,000 10,000 10,000 53,000 21,000 15,000 5,000 1,000 1,000 1,000 750 445,902 20,000 20,029,429 15,386,631 10,179,171 7,553,672 5,374,282 3,624,186 2,307,856 1,036,368 938,830 6,932,449 3,728,934 2,617,067 79,728,874 500 1,750 750 1,250 -33.33% Reduce for current FY-Reprogram in 2010/11 -40.00% Reduce for current FY-Reprogram in 2010/11 -50.00% Reduce for current FY-Reprogram in 2010/11 -33.33% Reduce for current FY-Reprogram in 2010112 -50.00% Reduce for current FY-Reprogram in 2010/13 -18.99% Reduce for current FY-Reprogram in 2010/14 -20.00% $10,000 for CM's office -50.00% Reduce for current FY-Reprogram in 2010/11 -40.00% Reduce for Acutal Public Notices -50.00% Reduce for current FY-Reprogram in 2010111 -83.33% Reduce for current FY-Reprogram in 2010/11 -6.25% Reduce budget by contingency (unallowed) Reduce budget for elim of Co-Star/PS Life pd -62.50% from Printing Budget -33.33% Reduced dues for CVEP for 09-10 -64.29% Reduce for current FY-Reprogram in 2010/11 Inc for New Loans -(Tide Reports) 100@ 360/pp - 307.69% expense is offset by equal reimb to Fund 237 -41.67% Reduce dues budget for Aspen Accord -50.00% Reduce for current FY-Reprogram in 2010/11 -50.00% Reduce for current FY-Reprogram in 2010/11 -33.33% Reduce for current FY-Reprogram in 2010/11 -50.00% Reduce for Actual Public Notices -80.00% Reduce for Actual Public Notices -50.00% Reduce for Actual Public Notices -20.00% Disclosure Reports/Trustee Fees/Arb Calc's 4.47% Based on increase in Tax Increment Budget 100.00% SERAF obligation as provided by State 5.52% Based on increase in Tax Increment Budget -1.58% Based on decrease in Tax Increment Budget 100.00% SERAF obligation as provided by State -0.17% Based on decrease in Tax Increment Budget 11.15% Based on increase in Tax Increment Budget 100.00% SERAF obligation as provided by State 13.17% Based on increase in Tax Increment Budget 2.80% Based on increase in Tax Increment Budget 100.00% SERAF obligation as provided by State 4.07% Based on increase in Tax Increment Budget -50.00% Reduce for current FY-Reprogram in 2010111 -30.00% Reduce for current FY-Reprogram in 2010/11 -25.00% Reduce for current FY-Reprogram in 2010/11 -50.00% Reduce for Actual Public Notices 2009-10 Midyear Budget Worksheets & Exhibits xisx 12/29/2009 11:32 AM Resolution No. 571 Exhibit "A' PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2009-2010 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET Account Number Object 2009-10 Original Appropriation 2009-10Mid0� Change Adjustmenty ear Revised @ Midyear Appropriation Explanation 870-4195-466.36-10 870-4195-466.36-20 870-4195-466.36-30 870-4195-466.36-60 870-4199-499.50-10 870-4474-464.40-01 870-4492-464.40-01 870-4493-464.40-01 870-4689-464.40-01 870-4699-464.40-01 PRINTING / DUPLICATING SUBSCRIPTIONS/PUBLICATION DUES POSTAGE & FREIGHT INTERFUND OP TR OUT SELF HELP HOUSING (14 UNITS) ACQ/REHAB/RSL HOME IMP PG HOME IMPR PRG COMP 1 TO 6 MORTGAGE ASSISTANCE HOME BUYER ASSISTANCE Total Adjustments to Housing Set -Aside Budgets Total Adjustments to RDA Expenditures 1,500 (500) 1,800 (200) 1,000 (250) 4,000 (1,000) 225,000 200,000 (200,000) 555,500 500,000 884,749 (200,000) 10,000 (10,000) 615,701 (150,000) 465,701 2,281,250 160,300 2,441,550 55,137,248 27,479,078 82,616,326 1,000 -33.33% Reduce for current FY-Reprogram in 2010/11 1,600-11.11% Reduce for current FY-Reprogram in 2010/11 750-25.00% Reduce for current FY-Reprogram in 2010/11 3,000 -25.00% Reduce for current FY-Reprogram in 2010/11 225,000 #DIV/0! Reimbursement to Agency for County Admin Chg -100.00% Reduce for delay of project -Reprogram 2010/11 1,055,500 90.01 % Acquisition of New or DR/FC homes 684,749 -22.61 % Reduce for current FY -100.00% Reduce for delay of project -will be added to 10/11 -24.36% Silent 2nd Loans -reduce for market conditions 12/29/2009 2009-10 Mdyear Budget Worksheets 8 Exhibits xlsx 11 32AM Resolution No. 57_1 Exhibit "B' PALM DESERT REDEVELOPMENT AGENCY MID -YEAR 2009-2010 BUDGET REVIEW REVISED APPROPRIATIONS OPERATING BUDGET Account Number Object Original Estimated Revenues Midyear Adjustment Revised Estimated Revenues Change @ Midyear Explanation 860-0000-317-1000 860-0000-317-1100 861-0000-317-1000 863-0000-317-1000 864-0000-317-1000 870-0000-391-1011 870-0000-391-1012 870-0000-391-1013 870-0000-391-1014 TAX INCREMENT PA 1 ORIGINAL 8,977,568 TAX INCREMENT PA 1 ANNEX 39,255,119 TAX INCREMENT PA 2 18,152,420 TAX INCREMENT PA 3 4,147,762 TAX INCREMENT PA 4 12,573,199 TAX INCREMENT 20%-PA 1 9,646,537 TAX INCREMENT 20%-PA 2 3,630,484 TAX INCREMENT 20%-PA 3 829,552 TAX INCREMENT 20%-PA 4 2,514,640 Total Changes to RDA Revenue 99,727,281 598,837 1,454,962 (258,045) 493,948 352,144 532,634 (6,298) 109,278 102,427 3,379,886 9,576,405 40,710,081 17,894,375 4,641,710 12,925,343 10,179,171 3,624,186 938,830 2,617,067 103,107,167 6.67% Decrease in AV Less than Anticipated 3.71% Decrease in AV Less than Anticipated -1.42% Decrease in Assessed Value 11.91% Decrease in AV Less than Anticipated 2.80% Decrease in AV Less than Anticipated 5.52% Decrease in AV Less than Anticipated -0.17% Decrease in Assessed Value 13.17°I0 Decrease in AV Less than Anticipated 4.07% Decrease in AV Less than Anticipated 2009-10 Midyear Budget Worksheets & Exhibits.xlsx 12/28/2009 1:20 PM