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Home My WebLink AboutRES. No. 531REDEVELOPMENT AGENCY FINANCIAL PLAN FISCAL YEAR 2006-2007 Item 4 RESOLUTION NO, 531 A RESOLUTION OF THE BOARD OF THE PALM DESERT REDEVELOPMENT AGENCY, PALM DESERT, CALIFORNIA, ADOPTING A PROGRAM AND FINANCIAL PLAN FOR THE FISCAL YEAR JULY 1, 2006 THROUGH JUNE 30, 2007 WHEREAS, the Board has received and considered the proposed Program and Financial Plan submitted by the Executive Director on June , 2006; and WHEREAS, after due notice, the Board held a public hearing on the proposed plan. NOW, THEREFORE, BE IT RESOLVED by the Board of the Palm Desert Redevelopment Agency, Palm Desert, California, that: 1. The amounts shown on Exhibit 1, "Estimated Revenues," are hereby accepted as the Estimated Revenues for the 2006-2007 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 Redevelopment Board action during the 2006-2007 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 2005-2006 Fiscal Year. The amounts included in this exhibit include all unexpended amounts from purchase orders and contracts encumbered by June 30, 2006. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert Redevelopment Agency held on this 22 day of June, 2006, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: JIM FERGUSON, CHAIRMAN ATTEST: RACHELLE D. KLASSEN, SECRETARY PALM DESERT REDEVELOPMENT AGENCY , res-rdaffnplan0607. wpd RESOLUTION NO. 531 PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY/FUND Proiect Area 1 Fund: 1. Reimbursements 2. Interest 3. Transfers In Total Proiect Area 1 Fund Proiect Area 2 Fund: 1. Reimbursements 2. Interest Total Proiect Area 2 Fund Actual Actual Adopted Projected Budget FY 03-04 FY 04-05 FY 05-06 FY 05-06 FY 06-07 177,207 301,892 20,134,874 20,613,973 59,714 74,628 134,342 115,420 - 380,753 175,000 175,000 175,000 6,044,716 6,540,889 175,000 175,000 175,000 435,368 146,103 50,000 95,000 50,000 581,471 50,000 95,000 50,000 Proiect Area 3 Fund: 1. Interest 24,848 68,846 35,000 35,000 35,000 2. Transfers In 5,001,754 4,323 - Total Proiect Area 3 Fund 5,026,602 73,169 35,000 35,000 35,000 Proiect Area 4 Fund: 1. Interest 2. Transfers In Total Proiect Area 4 Fund Debt Service 1 Fund: 1. Tax Increment 2. Interest 3. Reimbursement fm COD/County Total Debt Service 1 Fund 176,176 1,192,901 1,369,077 33,192,856 177,973 479,842 33,850,671 288,720 150,000 150,000 150,000 5,210,617 - 5,499,337 150,000 150,000 150,000 36,861,769 712,883 515,343 38,089,995 37,242,713 350,000 753,300 38,346,013 42,345,261 350,000 753,300 43,448,561 41,192,533 350,000 753,300 42,295,833 Page 1-35 RESOLUTION NO. 53t PALM DESERT ESTIMATED REVENUES, Exhibit 1 CATEGORY / FUND Debt Service 2 Fund: 1. Tax Increment 2. Interest Total Debt Service 2 Fund Debt Service 3 Fund: 1. Tax Increment 2. Interest Total Debt Service 3 Fund Debt Service 4 Fund: 1. Tax Increment 2. Interest Total Debt Service 4 Fund Housing Fund: 1. Transfers In 2. Reimbursements 3. Interest Total Housing Fund Actual Actual Adopted Projected Budget FY 03-04 FY 04-05 FY 05-06 FY 05-06 FY 06-07 12,387, 750 13,184, 843 13,112,628 14,571,852 14,450,581 61,096 90,000 90,000 90,000 90,000 12,448, 846 13,274, 843 13, 202, 628 14, 661, 852 14, 540, 581 2,163,267 2,371,983 2,152,196 2,980,787 3,063,731 21,480 48,712 27,000 27,000 27,000 2,184,747 2,420,695 2,179,196 3,007,787 3,090,731 8,250,907 9,595,403 9,257,610 11,464,767 10,794,690 22,032 85,345 35,000 35,000 35,000 8,272,939 9,680,748 9,292,610 11,499,767 10,829,690 12,357,247 13, 075,471 12, 385, 530 14, 041, 987 13,900,307 299,693 827,382 184,078 566,118 150,000 150,000 150,000 12,841,018 14,468,971 12,535,530 14,191,987 14,050,307 Page 1-36 RESOLUTION NO. 531 PALM DESERT FUND NAME 'REDEVELOPMENT AGENCY FUNDS I Project Area #1 Project Area #2 Project Area #3 Project Area #4 Debt Service PJ Area #1 Debt Service PJ Area #2 Debt Service PJ Area #3 Debt Service PJ Area #4 Housing Set Aside ITotal Redevelopment Agency Funds PROPRIAT APPROPRIATIONS FY 2006-2007 19,360,650 15,651,400 3,430,000 9,886,000 36,833,929 13,927,911 3,048,465 10,327,132 27,994,492 140,459,979 I RESOLUTION NO. 531 REDEVELOPMENT AGENCY CAPITAL IMPROVEMENT PROGRAM Exhibit 3 EXISTING PROJECTS IN FISCAL YEAR 2005-06 CONTINUED TO FY 2006-2007 PROJECT TITLE ESTIMATED PROJECT TOTAL FOR LIFE OF PROJECT ACCOUNT NUMBERS FUNDING SOURCES Trust Fund Homme/Adams Park 600,000 880-0000-239.91-00 Trust Fund 880 RDA Proiect Area #1 Fund 850 Neighborhood Undergrounding Entrada El Paseo-12 Acre Portola Ave @ Whitewater Bridge Fred Waring Street Improvement Palms to Pines East Glasser Wallaroo Child Care Center Alessandro Alleyway Catalina Rec Facility Palm Desert Aquatic Facility RDA Project Area #2 Fund 851 Desert Willow Pads Land Acquisition/Open Space 36 Acres DW Parking - For Condition of Approval/Lakes Country Club @ Via Scene Light Regional Park CVWD Well Site Development -Desert Willow RDA Prolec! Area #3 Fund 853 None RDA Protect Area #4 Fund 854 Undergrounding Neighborhood Fred Waring Street Improvement Casey's Restaurant Regional Park TOTAL EXISTING PROJECTS 2,000,000 850-4256-464.40-01 8,211,899 850-4358-433.40-01 4,000,000 850-4359-433-40-01 9,165,000 850-4384-433.40-01 1,400,000 850-4435-464.40-01 Continuing 850-4545-454.40-01 175,000 850-4341-433.40-01 1,409,000 850-4433-433.40-01 Continuing 850-4549-454.40-01 Continuing 851-4640-454.40-01 13,000,000 851-4673-454.40-10 Continuing 851-4663-454.40-01 125,000 851-4675-433.40-01 2,827,425 851-4670-454.40-01 2,097,364 851-4619-433.40-01 2,500,000 854-4256-464.40-01 2,000,000 854-4384-433.40-01 3,100,000 854-4495-464.40-01 8,542,000 854-4670-454.40-01 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#1 RDA PJ Area#2 RDA PJ Area#3 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#2 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 RDA PJ Area#4 * NOTE: APPROPRIATIONS AND/OR ENCUMBRANCES FOR REBUDGET/CARRYOVER FROM FISCAL YEAR 2005-06 TO 2006-07 Continuing appropriations are amounts which have been appropriated in FY2005-06 and are not expected to be expended by June 30, 2006. These funds are primarily for capital budgets and specific programs that overlap fiscal years. When authorized, continuing appropriation amounts are added to the new fiscal year budget amounts in order to track all approved spending. The exact amount of appropriations for carryover in each fund indicated will be determined at the end of the fiscal year during the preparation of financial statements. This amount will include: 1) purchase orders and contracts encumbered totals and 2) unencumbered balances as of June 30, 2006 for appropriations approved by the Agency through the last meeting in June, 2006. AMOUNT ARE SUBJECT TO CHANGE DUE TO PROJECTS THAT THE COUNCIL APPROVES PRIOR TO JUNE 30, 2006 Note:Above amounts are as of May 31, 2006 FY 2005-06 to FY06.07 SEE NOTE 273,126 2,000,000 1,019,900 4,000,000 668,385 0 15,803 219,888 102,428 607,750 81,576 7,000,000 656,594 125,000 0 1,323,189 2,500,000 856,916 1,420 271,639 I $21,723,614