HomeMy WebLinkAboutRES. No. HA-34 PALM DESERT HOUSING AUTHORITY
FINANCIAL PLAN
FISCAL YEAR 2007-2008
Item 5
RESOLUTION HA -34
A RESOLUTION OF THE CITY COUNCIL OF THE HOUSING AUTHORITY
OF PALM DESERT, CALIFORNIA, ADOPTING A PROGRAM
AND FINANCIAL PI.AN FOR THE FISCAL YEAR JULY 1,
2007 THROUGH JUNE 30, 2008
WHEREAS, the Housing Authority has received and considered the proposcd Program
and Financial Plan submitted by the Executive Director on June l, 2007; and
WHEREAS, after due notice, the Housing Authority held a public hearing on the
proposed plan.
NOW, THEREFORE, BE IT RESOLVED by the Palm Desert Housing Authority
Board of the City of Palm Desert, California, that:
1. The amounts shown on Exhibit 1, "Estimated Revenues," are hereby accepted as
the Estimated Revenues for the 2007-2008 Fiscal Year for each fund and revenue source.
2. The amounts shown on Exhibit 2, "Appropriations," are hereby appropriated to
the departments and activities indicated. The Executive Director, or his duly appointed
representative, will have the authority to approve intra-departmental budgeted line item
variations; additional appropriations or inter-departmental budget transfers will be
specifically approved by further Housing Authority action during the 2007-2008 Fiscal
Year as the need arises.
3. The amounts shown on Exhibit 3, "Continuing Appropriations, Existing Capital
Projects," are hereby accepted as continuing appropriations from the 2006-07 Fiscal
Year. The amounts included in this exhibit include all unexpended amounts from
purchase orders and contracts encumbered by June 30, 2007.
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm
Desert and Housing Authority held on this 28 day of June, 2007, by the following
vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
RICHARD KELLY, MAYOR
ATTEST:
RACHELLE KLASSEN, DEPUTY CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
xi
PALM DESERT ESTIMATED REVENUES, Exhibit 1
Actual Actual Adopted Projected Budget
CATEGORY I FUND FY 04-05 FY 05-06 FY 06-07 FY 06-07 FY 07-08
Housinq Authoritv Fund:
1. Rent fm Apartments/Interest 4,672,390 4,960,802 5,054,725 5,054,725 5,274,302
2. Reimbursement 11,543 10,000
Total Housinq Authoritv Fund 4,683,933 4,970,802 5,054,725 5,054,725 5,274,302
Page 1-36
Exhibit 2 HA-34
PALM DESERT H�USING AUTHORITY APPROPRIATIONS
FOR FISCAL YEAR 2007-2008
FY 2007-2008
Housing Authority 6,104,734
TOTAL ALL FUNDS (Includes Transfers Out to Other Funds 291,066,062
HOUSING AUTHORITY Exhibit 3
CAPITAL IMPROVEMENT PROGRAM HA 34
EXISTING PROJECTS IN FISCAL YEAR 2006-07 CONTINUED TO FY 2007-2008
PROJECT TITLE ESTIMATED ACCOUNT FUNDING FY 200Cr07
PROJECT NUMBERS SOURCES to FY07-08
TOTAL FOR •see Hare
UFE OF
PROJECT
RDA SR Housina Fund 870
Palm Village Apta Construction Continuing 870-4349-433.40-01 Housing Fund 870 -
Workforce Housing Grant 93,209 870-4490-464.30-90 Housing Fund 870 34,654
AcqNRehab/Resale Continuing 870-4492-464.40-01 Housing Fund 870 142,767
Home Improvement Program Conti�uing 870-4493-464.40-01 Housinq Fund 870 640,754
New Home Buyer Subsidy(Falcon Crest) Continuing 870-4494-464.40-01 Housing Fund 870 202,181
Apartment Complex Rehab(Country Village) 4,000,000 870-4498-464.40-01 Housing Fund 870 4,000,000
Falcon CresULa Rocca Villas Constructfon Continuing 870-4698-464.40-07 Housing Fund 870 6,956,215
RDA Pa/m Pesert Housina Auth Fund 871
Laguna Palms Rehabilitation Continuing 871-8610-466.40-01 Housing Authority FD 871 1,189,647
One Quail Place(Signage) Continuing 871-8660-466.40-01 Housing Authority FD 871 12,016
California Villas Rehabilitation Continuing 871-8680-466.40-01 Housing Authority FD 871 5,116,318
Candlewood Apts(Health&Safety Repairs) Continuing 871-8693-466.40-50 Housing Authority FD 871 136,546
TOTAL EXISTING PROJECTS $�8������
' NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER
FROM FISCAL YEAR 2006-07 TO 2007-OB
Continuing appropriatiais a�e amounts which have been appropriated in FY 2006-07 and are not expected to be expended by
June 30,2IXJ7. TTrese 7unds are pdmaiity for caprtal budgets and specif'�c programs lhat ovedap hscal years. When authorized,
continuing appropriation amounts are added to the new liscal year budget amounts in order to track all approved spending.
The exact amount ol appropnations for carryover in each lund indicated will be determined at the end o/the liscal yea�during the
preparation ol iinancial statements. This amount will include: i)purchase orders and contracts encumbered totals and
2)unencumbered balances as oi June 30,2007 lor appropriations approved by the Housing Authoriry fhrough the last meeting in
June,2007.
AMOUNT ARE SUBJECT TO CHANGE DUE TO PROJECTS THAT THE COUNCIL APPROVES PRIOR TO JUNE 30,2007
Note:Above amounts are as of June 15,2007