HomeMy WebLinkAboutReso RDA 3-1994-- RESOLUTION NO. 3-94
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING THE FISCAL YEAR 1994-1995
OPERATING BUDGET FOR THE REDEVELOPMENT AGENCY OF
THE CITY OF SOUTH SAN FRANCISCO AND ADOPTING
CORRESPONDING APPROPRIATIONS
WHEREAS, the Executive Director has submitted to the
Redevelopment Agency estimates of revenues from all sources, and
estimates of expenditures required for the proper conduct of the
activities of the Redevelopment Agency of the City of South San
Francisco, including the low and moderate income housing fund, for
the Fiscal Year 1994-1995; and
WHEREAS, the Agency provided interested persons an opportunity
to be heard on matters pertaining to the proposed budget.
NOW, THEREFORE, BE IT RESOLVED, by the Board of the
Redevelopment Agency of the City of South San Francisco that:
1. The operating budget for Fiscal Year 1994-95 presented by
the Executive Director contained within the document
entitled "City of South San Francisco Preliminary
Operating Budget 1994-95" and any changes and revisions
thereto approved by the Agency are hereby approved and
adopted as the Operating Budget of the Redevelopment
Agency of the City of South San Francisco for Fiscal Year
1994-95. A copy of the approved budget is on file in the
office of the City Clerk. Total appropriations equal
$4,011,373. Total revenues equal $3,894,467.
2. Any and all expenditures for, and agreements relating to,
the programs and materials described in the budget, may
be expended or entered into under authority of or by the
Executive Director, are hereby approved and authorized,
and payments therefor may be made by the Director of
Finance.
3. The budget anticipates additional indebtedness in 1994-
95, solely from unpaid interest on advances from the
general fund.
4. The Director of Finance is hereby authorized and directed
to distribute the appropriations, transfers, and reserves
to the various accounts of the Agency in accordance with
generally accepted accounting practices and consistent
with the approved budget.
5. The Director of Finance is hereby authorized and directed
to rollover any outstanding encumbrances from Fiscal Year
1993-1994 into Fiscal Year 1994-95.
-- 6. The Director of Finance is hereby authorized to
reappropriate unencumbered funds approved in the 1993-
1994 fiscal year budget for soils cleanup in accordance
with the agreement between the Price Club and the City,
approved March 2, 1994.
I hereby certify that the foregoing Resolution was regularly
introduced and adopted by the Redevelopment Agency of the City of
South San Francisco at a regular meeting held on the ?Tth
day of July , 1994 by the following vote:
AYES: CouncilmembersJackDraqo, JohnR. Penna, RobertaCerriTealia,
Robert Yee and Mayor Joseph A. Fernekes
NOES: None
ABSTAIN: None
ABSENT: None
Clerk
Redevelopment Agency of the
City of South San Francisco
Fisc~.~A
2
REDEVELOPMF~NT AGENCY RESOLUTION NO. 3-94
-- SUMMARY OF REVENUES AND EXPENDITURES
AND CHANGES IN FUND BALANCE
REDEVELOPMENT AGENCY
BY PROJECT AREA AND FUND
ACTUAL APPROVED ESTIMATED PROPOSED
1992-93 1993-94 1993-94 1994-95
GA TEWA Y
REVENUES
Tax Increment 1,004,243 1,257,000 1,328,000 1,328,000
Interest 36,399 43,000 60,000 60,000
Debt Proceeds and Misc. Revenue 14,456,568 6,219 6,500
Total Revenues 15,497,210 1,300,000 1,394,219 1,394,500
EXPENDITURES
Program Expenditures 284,918 27,809 14,000 3,200
Program Administration 132,288 68,577 68,577 52,663
Debt Service 13,593,498 1,040,710 1,300,000 1,455,000
Total Expenditures 14,010,704 1,137,096 1,382,577 1,510,863
EXCESS OF REVENUES OVER EXPENDITURE~ 1,486,506 162,904 11,642 (116,363)
FUND BALANCE, BEGINNING OF YEAR 332,450 1,700,000 1,818,956 1,830,598
FUND BALANCE, END OF YEAR 1,818,956 1,862,904 1,830,598 1,714,235
RESERVED FUND BALANCE 1,414,544 1,600,000 1,524,000 1,524,000
UNDESIGNATED FUND BALANCE 404,412 262,904 306,598 190,235
SUMMARY OF REVENUES AND EXPENDITURES
AND CHANGES IN FUND BALANCE
REDEVELOPMENT AGENCY
BY PROJECT AREA AND FUND
ACTUAL APPROVED ESTIMATED PROPOSED
1992-93 1993-94 1993-94 1994-95
SHEARWA TER
REVENUES
Tax Increment 155,230 158,000 160,000 160,000
Interest 4,833 7,000 7,500 7,500
Debt Proceeds and Misc. Revenue 10,543 10,500 11,000
Total Revenues 170,606 165,000 178,000 178,500
EXPENDITURES
Program Expenditures 173,758 77,120 67,882 67,882
Program Administration 33,720 9,795 9,795 6,428
Debt Service 10,542 10,000 10,500 11,000
Total Expenditu res 218,020 96,915 88,177 85,310
EXCESS OF REVENUES OVER EXPENDITURES (47,414) 68,085 89,823 93,190
FUND BALANCE, BEGINNING OF YEAR 207,560 160,000 160,146 249,969
FUND BALANCE, END OF YEAR 160,146 228,085 249,969 343,159
RESERVED FUND BALANCE
UNDESIGNATED FUND BALANCE 160,146 228,065 249,969 343,159
..... SUMMARY OF REVENUES AND EXPENDITURES
AND CHANGES IN FUND BALANCE
REDEVELOPMENT AGENCY
BY PROJECT AREA AND FUND
ACTUAL APPROVED ESTIMATED PROPOSED
1992-93 1993-94 1993-94 1994-95
DOWNTOWN/CENTRAL
REVENUES
Tax Increment 657,591 1,235,000 1,373,000 1,272,000
Interest 18,454 65,000 26,000 30,000
Debt Proceeds and Misc. Revenue 25,314 25,600 27,500
Total Revenues 701,359 1,300,000 1,424,600 1,329,500
EXPENDITURES
Program Expenditures 310,115 319,100 184,877 1,082,882
Program Administration 165,156 174,433 174,433 145,132
Debt Service 25,314 22,500 25,600 27,500
Total Expenditures 500,565 516,033 384,910 1,255,514
EXCESS OF REVENUES OVER EXPENDITURES 200,774 783,967 1,039,690 73,986
FUND BALANCE, BEGINNING OF YEAR 238,329 450,000 439,103 1,478,793
FUND BALANCE, END OF YEAR 439,103 1,233,967 1,478,793 1,552,779
RESERVED FUND BALANCE 9,800
UNDESIGNATED FUND BALANCE 429,303 1,233,967 1,478,793 1,552,779
SUMMARY OF REVENUES AND EXPENDITURES
AND CHANGES IN FUND BALANCE
REDEVELOPMENT AGENCY
BY PROJECT AREA AND FUND
ACTUAL APPROVED ESTIMATED PROPOSED
1992-93 1993-94 1993-94 1994-95
EL CAMINO CORRIDOR
REVENUES
Debt Proceeds and Misc. Revenue 274,228 160,585 302,818 180,467
EXPENDITURES
Program Expenditures 259,363 16,441 83,000 35,900
Program Administration 83,330 126,644 126,644 109,567
Debt Service 4,709 17,500 20,000 35,000
Total Revenues 347,402 160,585 229,644 180,467
EXCESS OF REVENUES OVER EXPENDITURES (73,174) 0 73,174 0
FUND BALANCE, BEGINNING OF YEAR 0 0 (73,174) 0
FUND BALANCE, END OF YEAR (73,174) 0 0 0
RESERVED FUND BALANCE 0 0
UNDESIGNATED FUND BALANCE (73,174) 0 0 0
SUMMARY OF REVENUES AND EXPENDITURES
AND CHANGES IN FUND BALANCE
REDEVELOPMENT AGENCY
BY PROJECT AREA AND FUND
ACTUAL APPROVED ESTIMATED PROPOSED
1992-93 1993-94 1993-94 1994-95
LOW AND MODERATE HOUSING
REVENUES
Tax Increment 467,876 662,500 726,000 690,000
Rent 36,506 36,500
Interest 76,490 25,000 80,000 85,000
Total Revenues 544,366 687,500 842,506 811,500
EXPENDITURES
Program Expenditures 85.520 993,000 35,000 923,000
Program Administration 68,896 68,896 56,219
85,520 1,061,896 103,896 979,219
EXCESS OF REVENUES OVER EXPENDITURES 458,846 (374,396) 738,610 (167,719)
FUND BALANCE, BEGINNING OF YEAR 1,430,078 1,800,000 1,888,924 2,627,534
FUND BALANCE, END OF YEAR 1,888,924 1,425,604 2,627,534 2,459,815
RESERVED FUND BALANCE 161,480
UNDESIGNATED FUND BALANCE 1,727,444 1,425,604 2,627,534 2,459,815