HomeMy WebLinkAboutRes HA-50 - Amnd Bdgt for FY 2012-2013PALM DESERT HOUSING AUTHORITY
FINANCE DEPARTMENT
STAFF REPORT
Request: Adopt Resolution No. HA- 50 approving amended budget for Fiscal
Year 2012-2013
Submitted by: Paul S. Gibson, Finance Director
Date: February 14, 2013
Contents: Resolution No. HA- 50
Recommendation
Waive further reading and adopt Resolution No. HA- 50 approving
amended budget for Fiscal Year 2012-2013.
Background
Staff has completed a mid -year analysis of the current budget and financial position of
the palm Desert Housing Authority. This process serves to inform the Board of any
changes in the financial outlook for the current year.
The Palm Desert Housing Authority requires an appropriation in the housing properties
listed below to perform renovations, repairs and improvements in response to the
State's approval of the transfer of assets to Housing.
Description Amount
Laguna Palms $ 2,732
Catalina Gardens 74,852
Desert Pointe 326,086
Las Serenas 404,554
One Quail Place 433,430
Pueblos Apartments 29,831
California Villas 46,414
Palm Village 4,617
Candlewood Apartments 10,654
Total Changes to HA Expenditures $1.333,170
Staff Report
Resolution No. HA- 50 - approve amended budget for FY 2012-2013
February 14, 2013
Page 2of2
Fiscal Impact
Approval of the resolution will result in an appropriation in the amount of $1,333,170 for
maintenance, repairs and improvements at the designated housing properties to the
Housing Authority. This amount has been deposited with the Housing Authority from
Redevelopment Property Tax Trust Fund (RPTTF) on the ROPS 2 line item entitled
Replacement Reserve Fund. These deferred maintenance items have been on hold
pending approval of the asset transfer by the Department of Finance.
Submitted by:
Paul S. Gibson, Finance Director hn Wohlmuth, City Manager
PSG:nmo
G:\Finance\Niamh Ortega\Staff Reports\Budget & White papers\SR-approp to budget 2012-13 Hsg Auth 012313.docx
RESOLUTION NO. HA-5o
A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY,
PALM DESERT, CALIFORNIA, AMENDING THE FISCAL YEAR 2012-
13 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 2012-13 Budget;
NOW, THEREFORE, BE IT RESOLVED by the Housing Authority, Palm Desert,
California, that the 2012-13 Budget is hereby revised as follows:
1. The amount shown in the column entitled "Revised Appropriations" in the
table entitled "Palm Desert Housing Authority, Mid -Year 2012-13 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 2012-13.
PASSED, APPROVED AND ADOPTED, at the regular meeting of the Palm
Desert Housing Authority held on this day of 2013, by the
following vote to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAN C. HARNIK, CHAIRMAN
ATTEST:
Rachelle D. Klassen, Secretary
Palm Desert Housing Authority
G:\Finance\Niamh Ortega\Staff Reports\Budget & White papers\RES-2012-13 HA Midyear approp to budget 012313.docx
Resolution No. HA-50
Exhibit "A"
PALM DESERT HOUSING AUTHORITY
MID -YEAR 2012-2013 BUDGET REVIEW
REVISED APPROPRIATIONS
OPERATING BUDGET
2012-13 2012-13
Account Number Object Original Midyear Revised %Change
Appropriation Adjustment Appropriation @ Midyear
Explanation
Laguna Palms Apartments
871-8610-466.40-50 CAPITAL IMPROVEMENTS
Catalina Garden Apartments
871-8620-466.40-50 CAPITAL IMPROVEMENTS
Desert Pointe Apartments
871-8630-466.40-50 CAPITAL IMPROVEMENTS
Las Serenas Apartments
871-8640-466.40-50 CAPITAL IMPROVEMENTS
Neighbors Apartments
871-8650-466.40-50 CAPITAL IMPROVEMENTS
One Quail Place Apartments
871-8660-466.40-50 CAPITAL IMPROVEMENTS
Pueblos Apartments
871-8670466.40-50 CAPITAL IMPROVEMENTS
California Villas
871-8680-466.40-50 CAPITAL IMPROVEMENTS
Taos Palms Apartments
871-8690-466.40-50 CAPITAL IMPROVEMENTS
Carlos Ortega Villas
871-8691-466.40-50 CAPITAL IMPROVEMENTS
Palm Village Apartments
871-8692-466.40-50 CAPITAL IMPROVEMENTS
Candlewood Apartments
871-8693-466.40-50 CAPITAL IMPROVEMENTS
La Rocca Villas
871-8694-466.40-50 CAPITAL IMPROVEMENTS
Sagecrest Apartments
871-8695-466.40-50 CAPITAL IMPROVEMENTS
Total Changes to HA Expenditures 1,333,170 1,333,170
2,732 2,732 100.00% Based on 2013 Replacement Reserve Expenditures
74,852 74,852 100.00% Based on 2013 Replacement Reserve Expenditures
326,086 326,086 100.00% Based on 2013 Replacement Reserve Expenditures
404,554 404,554 100.00% Based on 2013 Replacement Reserve Expenditures
0.00% Based on 2013 Replacement Reserve Expenditures
433,430 433,430 100.00% Based on 2013 Replacement Reserve Expenditures
29,831 29,831 100.00% Based on 2013 Replacement Reserve Expenditures
46,414 46,414 100.00% Based on 2013 Replacement Reserve Expenditures
0.00% Based on 2013 Replacement Reserve Expenditures
0.00% Based on 2013 Replacement Reserve Expenditures
4,617 4,617 100.00% Based on 2013 Replacement Reserve Expenditures
10,654 10,654 100.00% Based on 2013 Replacement Reserve Expenditures
0.00% Based on 2013 Replacement Reserve Expenditures
0.00% Based on 2013 Replacement Reserve Expenditures
2012-13 Midyear Budget Worksheets
12/28/2012
1:10 PM