RDA RES 2001-007 RESOLUTION NO. RDA 2001-07
A RESOLUTION OF THE RANCHO PALOS VERDES
REDEVELOPMENT AGENCY ADOPTING THE
OPERATING AND CAPITAL IMPROVEMENT BUDGET
FOR FISCAL YEAR 2001-2002.
WHEREAS, the Board of the Rancho Palos Verdes Redevelopment Agency
desires to adopt the following resolution adopting the capital budget for the 2001-02
fiscal year.
NOW, THEREFORE, BE IT RESOLVED, THAT THE BOARD OF THE RANCHO
PALOS VERDES REDEVELOPMENT AGENCY DOES HEREBY ADOPT THE
FOLLOWING 2001-2002 OPERATING AND CAPITAL BUDGET.
Section 1: The 2001-02 Revenue Budget is hereby adopted, establishing the
following revenue levels:
2001-02
PROGRAM ADOPTED BUDGET
Portuguese Bend Project Area $ 30,300
Abalone Cove Project Area 10,000
RDA Housing Set Aside Fund 141,000
Abalone Cove Debt Service Fund 1,424,480
TOTAL REVENUES $ 1,605,780
Section 2: An operating and capital budget for Fiscal Year 2001-02 is hereby
adopted as contained in the Annual Budget of the Rancho Palos Verdes
Redevelopment Agency attached hereto and incorporated and referenced as part of this
resolution. The following expenditure levels are hereby established:
2001-02
PROGRAM ADOPTED BUDGET
Portuguese Bend Project Area
Administration $ 49,810
RDA Engineering 45,000
Agency Attorney 10,000
Capital Projects 35,200
Subtotal Portuguese Bend Project Area $ 140,010
Abalone Cove Project Area
Administration $ 18,250
RDA Engineering 14,000
Agency Attorney 30,000
Capital Projects 170,000
Subtotal Abalone Cove Project Area $ 232,250
RDA Housing Set-Aside Fund 50,000
Abalone Cove Debt Service Fund 1,353,130
TOTAL OPERATING AND CAPITAL EXPENDITURES $ 1,775,390
Section 3: Upon adoption of said Budget, the Board may revise and/or update
said Budget in part or in its entirety, depending on the Agency's fiscal resources,
circumstances, and needs.
Section 4: The Executive Director of the Rancho Palos Verdes Redevelopment
Agency shall be responsible for administration and execution of said Budget.
PASSED, APPROVED, and ADOPTED the 5th day of June 2001.
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AG C /AIR
ATTEST:
/.://
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A� ENC" SECRETARY
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, JO PURCELL, Agency Secretary of the Rancho Palos Verdes Redevelopment
Agency, hereby certify that the above Resolution No. RDA 2001-.07 was duly and
regularly passed and adopted by the said Redevelopment Agency at regular meeting
thereof held on June 5, 2001.
P A c:
AGE CY SECRETARY
Resolution No. RDA 2001-07
Page 2 of 2
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF FUND BALANCE STATUS
FISCAL YEAR 2001 -02
Resolution No. RDA 2001 -07, Exhibit A
Page 1 of 1
ESTIMATED RESOURCES:
TOTAL
BUDGETED APPROPRIATIONS:
TOTAL
ESTIMATED
FUND
2001/02
2001/02
RESOURCES
APPROPRIATIONS
FUND
BALANCE
2001/02
TRANSFERS
ESTIMATED
TRNSFR OUT/
2001/02
BUDGETED FOR
BALANCE
FUND
6/30/01
REVENUE
IN
FOR 2001/02
RESERVES
EXPENDITURES
:: 2001/02
6/30/02
375 PORTUGUESE BEND CAPITAL PROJECTS FUND
982,797
30,300
0
1,013,097
0
140,010
1409010
873,087
380 ABALONE COVE CAPITAL PROJECTS FUND
282,911
10,000
0
292,911
0
232,250
232,250
60,661
118 HOUSING SET -ASIDE FUND
448,105
141,000
0
589,105
0
50,000:
50,000
= 539,105
210 DEBT SERVICE FUND
287,153
1,424,480
0
1,711,633
0
1,353,130
11353,130
358,503
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Resolution No. RDA 2001 -07, Exhibit A
Page 1 of 1
CITY OF RANCHO PALOS VERDES
REDEVELOPMENT AGENCY &
' IMPROVEMENT AUTHORITY
TWO YEAR BUDGET
� for the fiscal years ending June 30, 2002
' and June 30, 2003
AGENCY/AUTHORITY OFFICIALS
Marilyn Lyon
' Chair
10 John McTaggart
Vice Chair
' Lee Byrd
Board Member
Barbara Ferraro
' Board Member
Douglas Stern
Board Member
t Les Evans
Executive Director/Chief Administrative Officer
Rancho Palos Verdes
Redevelopment Agency & Improvement Authority
Two Year Budget
FYOI -02 & 02-03
' TABLE OF CONTENTS
CITY OF RANCHO PALOS VERDES
' REDEVELOPMENT AGENCY & IMPROVEMENT AUTHORITY
TWO YEAR BUDGET
2001-2002 & 2002-2003
REDEVELOPMENT AGENCY
1 Executive Director's Transmittal Letter
Summary of Loans from City iii
' Summary of Fund Balance Status v
Portuguese Bend Fund (375) 1
Abalone Cove Fund (380) 11
' RDA Housing Set Aside Fund (118) 22
RDA Debt Service Fund (210) 24
IMPROVEMENT AUTHORITY
Chief Administrative Officer's Transmittal Letter 27
Portuguese Bend Fund (885) 28
Abalone Cove Fund (895) 32
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Rancho Palos Verdes
Redevelopment Agency & Improvement Authority
Two Year Budget
FYOI -02 & 02-03
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TO: HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: EXECUTIVE DIRECTOR
DATE: JULY 1, 2001
SUBJECT: ADOPTED 2001-2002 AND 2002-2003 REDEVELOPMENT AGENCY
BUDGET
Under cover of this memorandum, the staff respectfully transmits the adopted
Redevelopment Agency budgets for Fiscal Years 2001-2002 and 2002-2003. The
1 Rancho Palos Verdes Redevelopment (RDA) was established in 1984 with the primary
purpose of providing mitigation measures to stabilize landslides in the Abalone Cove and
Portuguese Bend areas of the City.
Expenditures in Portuguese Bend are made with proceeds from loans made during
previous fiscal years from the City's General Fund. Because of the current fund
balance, loans will not be required for FY 2001-2002 and 2002-2003. Expenditures in
the Abalone Cove are made with proceeds from County bonds issued in accordance
with the Landslide Reimbursement Settlement Agreement. This Agreement between the
10 Redevelopment Agency, the County, and several property owners in Abalone Cove was
re-financed in 1997.
Consistent with our practice over the last several years, the budget is divided into two
separate funds based on the geographical boundaries of these two areas. The
separation of the budget and accounting of the two project areas into individual fund
helps to assure that County bond proceeds are not used in the Portuguese Bend portion
of the project area.
Operating and maintenance expenditures for both the Portuguese Bend and Abalone
' Cove project areas are budgeted in the Joint Powers Improvement Authority (JPIA).
This is consistent with California Redevelopment Law that prohibits an Agency from
performing maintenance and operations functions.
Portuguese Bend,
Agency activities within the Portuguese Bend area over the next two fiscal years are
focused on mitigation measures to stabilize the Portuguese Bend Landslide. For Fiscal
Year 2001-2002, funding is provided for agency administrative activities, Global
Positioning System (GPS) monitoring, and for a capital project to reconstruct a
dewatering well. For Fiscal Year 2002-2003, funding is provided for agency
administration, GPS monitoring and for a capital project to construct drainage
improvements in Paintbrush Canyon.
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FY 2001-2002 AND FY 2002-2003 RDA BUDGET MESSAGE
July 1, 2001
Abalone Cove
Agency activities within the Abalone Cove area over the next two fiscal years are
focused on mitigation measures for the Abalone Cove Landslide. For Fiscal Year 2001-
2002, funding is provided for agency administration and GPS monitoring. Funding is
also provided in the capital improvement program to complete the construction of the
Abalone Cove Sewer Project, which is underway. For Fiscal Year 2002-2003, funding is
provided for agency administration and GPS monitoring. No funds are budgeted in the
capital improvement program because all landslide settlement funds will have been
expended.
Respectfully submitted,
tt
ties Evans
Executive Director
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if. RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF LOANS FROM CITY
FISCAL YEARS 1998-99 THRU 2002-03
Portuguese Bend
ILoan Balance at July 1, 1998 $ 5,458,536
I PLUS: Loan Advance from City 700,000
Interest 465,223
Total Additions- FY 98-99 1,165,223
ILoan Balance at July 1, 1999 6,623,759
PLUS: Loan Advance from City 250,000
I Interest 579,431
Total Additions- FY 99-00 829,431
ILoan Balance at July 1, 2000 7,453,190
PLUS: Loan Advance from City
I Interest
712,514
Total Additions - FY 00-01 712,514
moLoan Balance at July 1, 2001 8,165,704
PLUS: Loan Advance from City
I Interest
775,742
Total Additions- FY 01-02 775,742
ILoan Balance at July 1, 2002 8,941,446
PLUS: Loan Advance from City
I Interest 849,437
Total Additions- FY 02-03 849,437
Loan Balance at June 30, 2003 $ 9,790,884
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RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF LOANS FROM CITY
FISCAL YEARS 1998-99 THRU 2002-03
Abalone Cove
Loan Balance at July 1, 1998 $ 1,622,510
PLUS: Loan Advance from City
Interest 135,595
Total Additions - FY 98-99 135,595
Loan Balance at July 1, 1999 1,758,105
PLUS: Loan Advance from City
Interest 152,357
Total Additions - FY 99-00 152,357
Loan Balance at July 1, 2000 1,910,462
PLUS: Loan Advance from City
Interest 181,494
Total Additions- FY 00-01 181,494
Loan Balance at July 1, 2001 2,091,956
PLUS: Loan Advance from City
Interest 198,736
Total Additions - FY 01-02 198,736
Loan Balance at July 1, 2002 2,290,692
PLUS: Loan Advance from City
Interest 217,616
Total Additions - FY 02-03 217,616
Loan Balance at June 30, 2003 $ 2,508,308
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_..• lib MI NM in NI NMI MIN MINI 111 OM IIIIIII NO MI SIN MI Olen MIMI
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SUMMARY OF FUND BALANCE STATUS
FISCAL YEAR 2001-02
ESTIMATED RESOURCES TOTAL BUDGETED APPROPRIATIONS TOTAL ESTIMATED
FUND 2001/02 RESOURCES 2001/02 APPROPRIATIONS FUND
BALANCE 2001/02 TRANSFERS ESTIMATED TRNSFR OUT/ 2001/02 BUDGETED FOR BALANCE
FUND 6/30/01 REVENUE IN FOR 2001/02 RESERVES EXPENDITURES 2001/02 6/30/02
375 PORTUGUESE BEND CAPITAL PROJECTS FUND 982,797 30,300 0 1,013,097 0 140,010 140,010 873,087
380 ABALONE COVE CAPITAL PROJECTS FUND 282,911 10,000 0 292,911 0 232,250 232,250 60,661
118 HOUSING SET-ASIDE FUND 448,105 141,000 0 589,105 0 50,000 50,000 539,105
210 DEBT SERVICE FUND 287,153 1,451,080 0 1,738,233 0 1,379,730 1,379,730 358,503
AGENCY WIDE TOTALS 2,000,966 1,632,380 0 1 3,633,346 0 1,801,990 1,801,990 1,831,356
FISCAL YEAR 2002-03
ESTIMATED RESOURCES. TOTAL BUDGETED APPROPRIATIONS. TOTAL ESTIMATED
FUND 2002/03 RESOURCES 2002/03 APPROPRIATIONS FUND
BALANCE 2002/03 TRANSFERS ESTIMATED TRNSFR OUT/ 2002/03 BUDGETED FOR BALANCE
FUND 6/30/02 REVENUE IN FOR 2002/03 RESERVES EXPENDITURES 2002/03 6/30/03
375 PORTUGUESE BEND CAPITAL PROJECTS FUND 873,087 15,500 0 888,587 0 160,010 160,010 728,577
380 ABALONE COVE CAPITAL PROJECTS FUND 60,661 2,000 0 62,661 0 62,250 62,250 411
118 HOUSING SET-ASIDE FUND 539,105 150,000 0 689,105 0 50,000 50,000 639,105
210 DEBT SERVICE FUND 358,503 1,552,650 0 1,911,153 0 1,475,300 1,475,300 435,853
AGENCY WIDE TOTALS 1,831,356 1,720,150 0 3,551,506 0 1,747,560 1,747,560 1,803,946
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Rancho Palos Verdes
Redevelopment Agency & Improvement Authority
Two Year Budget
FYOI -02 & 02-03
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FUNCTION: FUND:
IRDA -PORTUGUESE BEND RDA -PORTUGUESE BEND (375)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
IBEGINNING FUND BALANCE 347,577 1,009,632 1,154,715 1,154,715 982,797 873,087 I
REVENUES
347.10 INTEREST EARNINGS 23,313 42,637 13,500 33,000 20,000 5,000
I375.10 PV PORTUGUESE BEND, LLC(GPS) 0 9,152 10,000 10,000 10,300 10,500
TOTAL REVENUES 23,313 51,789 23,500 43,000 30,300 15,500
I TRANSFERS
395.50 LONG TERM LOAN FROM CITY 700,000 250,000 0 0 0 0
TOTAL TRANSFERS 700,000 250,000 0 0 0 0
I TOTAL RESOURCES 1,070,890 1,311,421 1,178,215 1,197,715 1,013,097 888,587 1
IPROGRAM SUMMARY
PORTUGUESE BEND
I ADMINISTRATION(720) 17,064 28,402 40,460 36,000 49,810 49,810
RDA ENGINEERING(721) 28,321 14,360 32,500 20,000 45,000 45,000
AGENCY ATTORNEY(722) 497 7,890 10,000 10,000 10,000 10,000
CAPITAL PROJECTS(725) 15,376 106,054 115,200 10,200 35,200 55,200
MITOTAL PROGRAMS 61,258 156,706 198,160 76,200 140,010 160,010
391.20 LOAN TO OTHER AGENCY 0 0 0 138,718 0 0
TOTAL EXPENDITURES 61,258 156,706 198,160 214,918 140,010 160,010
II ENDING FUND BALANCE 1,009,632 1,154,715 980,055 982,797 873,087 728,577 1
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PROGRAM: FUND:
RDA - PORTUGUESE BEND - RDA -PORTUGUESE BEND (375)
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ADMINISTRATION (720)
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YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET ii
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 7,394 7,708 18,000 14,500 32,000 32,000
.50 OPERATING SUPPLIES 93 377 1,500 1,500 1,500 1,500
.71 MEETINGS AND CONFERENCES 2,172 8,053 7,000 7,000 3,000 3,000
.72 MEMBERSHIPS AND DUES 7,405 12,264 13,960 13,000 13,310 13,310
TOTAL OPERATIONS&MAINTENANCE 17,064 28,402 40,460 36,000 49,810 49,810
I PROGRAM TOTAL 17,064 28,402 40,460 36,000 49,810 49,810 I
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Program: RDA Portuguese Bend Administration (375-720)
Adopted Proposed
• Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES 32,000 32,000
The FY 01-02 and FY 02-03 budgets have been increased
to cover the cost of administrative support services that
were previously provided to the Redevelopment Agency on
a pro-bono basis. The following services have been
budgeted:
1. Administrative support for the Portuguese Bend portion
of the RDA with the exception of capital projects.
($25,000)
2. Annual auditing services. ($2,000)
3. Contract geotechnical consultants to assist in the review
of projects not funded by trust deposits, and those
generally initiated by the City or Redevelopment Agency.
($5,000)
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT 1,500 1,500
11W. The FY 01-02 and FY 02-03 allocations provide for
blueprint services for various projects within the
Portuguese Bend area.
.71 MEETINGS AND CONFERENCES 3,000 3,000
The FY 01-02 and FY 02-03 budgets allocate funds to
cover the cost of landslide stabilization conferences and
meetings.
' .72 MEMBERSHIPS AND DUES 13,310 13,310
This line item provides for the following annual
assessments or membership dues:
Abalone Cove Landslide Abatement District: $5,560
Klondike Canyon Landslide Abatement District: $6,100
California Redevelopment Association: $1,500
Portuguese Bend Community Association: $ 150
$13,310
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PROGRAM: FUND:
RDA -PORTUGUESE BEND -RDA RDA - PORTUGUESE BEND (375)
ENGINEERING (721)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 28,321 14,360 32,500 20,000 45,000 45,000
TOTAL OPERATIONS&MAINTENANCE 28,321 14,360 32,500 20,000 45,000 45,000
I PROGRAM TOTAL 28,321 14,360 32,500 20,000 45,000 45,000 1
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Program: RDA Portuguese Bend - Engineering (375-721)
Adopted Proposed
Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES 45,000 45.000
Contract services provide for GPS monitoring of 62
monuments in the Portuguese Bend, Klondike Canyon and
Flying Triangle Landslide areas, and 12 monuments in the
beach area at the toe of the landslide. Twenty-five of
these monuments are located on property owned by the
Palos Verdes Portuguese Bend, LLC. The reimbursement
for GPS monitoring from Palos Verdes Portuguese Bend,
LLC is estimated to be $10,000 for FY 01-02 and FY 02-
03. The FY 01-02 and FY 02-03 budgets have been
increased because the Redevelopment Agency intends to
install new continuous monitoring monuments, as well as
replace some of the existing monuments with the new
continuous monitoring devices.
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PROGRAM: FUND:
RDA -PORTUGUESE BEND - RDA -PORTUGUESE BEND (375)
AGENCY ATTORNEY (722)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.40 LEGAL SERVICES 497 7,890 10,000 10,000 10,000 10,000
TOTAL OPERATIONS&MAINTENANCE 497 7,890 10,000 10,000 10,000 10,000
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I PROGRAM TOTAL 497 7,890 10,000 10,000 10,000 10,000 I
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Program: RDA Portuguese Bend -Agency Attorney (375-722)
• Adopted Proposed
Code Description FY 01-02 FY 02-03
.40 LEGAL SERVICES 10,000 10,000
This line item provides for legal services for the
Redevelopment Agency. Actual expenditures will vary
depending on project activity.
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PROGRAM: FUND:
RDA -PORTUGUESE BEND - RDA -PORTUGUESE BEND (375)
III
CAPITAL PROJECTS (725)
IlkYEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 13,708 59,974 65,000 10,000 10,000 15,000
.50 OPERATING SUPPLIES&MINOR EQUIP 0 0 200 200 200 200
.55 LEGAL NOTICE PUBLICATION 0 0 0 0 0 0
TOTAL OPERATIONS&MAINTENANCE 13,708 59,974 65,200 10,200 10,200 15,200
CAPITAL OUTLAY
.82 IMPROVEMENTS OTHER THAN BUILDINGS 1,668 46,080 50,000 0 25,000 40,000
TOTAL CAPITAL OUTLAY 1,668 46,080 50,000 0 25,000 40,000
PROGRAM TOTAL 15,376 106,054 115,200 10,200 35,200 55,200 1
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Program: RDA Portuguese Bend - Capital Projects (375-725)
Adopted Proposed
Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES 10,000 15,000
There were no expenditures during FY 00-01 because the
Army Corps of Engineers' shoreline protection feasibility
study was put on hold and no design services were
required for capital projects. The FY 01-02 and FY 02-03
budgets provide professional services for capital projects.
(FY 01-02 $10,000) (FY 02-03 $15,000)
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT 200 200
This line item provides for blueprint services and supplies
for the capital projects listed above.
.55 LEGAL NOTICE PUBLICATION -0- -0-
This line item provides for advertising services required for
the public bidding process and notification of affected
property owners. It is anticipated that projects budgeted
for FY 01-02 and FY 02-03 will not include special legal
notification costs.
.82 IMPROVEMENTS OTHER THAN BUILDINGS 25,000 40,000
The projects for FY 01-02 and FY 02-03 include:
1. Construct a replacement well at the Figuora site.
(FY 01-02 $25,000) (FY 02-03 $ 0)
' 2. Construct drainage improvements to the Paintbrush
Canyon detention basin.(FY 01-02 $0) (FY 02-03 $
40,000)
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Rancho Palos Verdes I
Redevelopment Agency & Improvement Authority
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Two Year Budget
FYOI -02 & 02-03
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• RDA - ABALONE COVE CAPITAL PROJECTS
FY 2002-2003
Programs 73X: RDA -Abalone Cove Capital Projects
Adjustments from the proposed budget to the final budget adopted on June 12, 2002.
Proposed Final
Type Account Description Item of Change Budget Budget
Revenue 380-347-10 Interest Earnings 2,000 -
Expenditure 380-730-35 Professional Services 17,000 -
Expenditure 380-730-50 Operating Supplies 1,000 -
Expenditure 380-730-53 Postage 250 -
Expenditure 380-731-35 Professional Services 14,000 -
Expenditure 380-732-40 Legal Services 30,000 -
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II FUNCTION: FUND:
RDA-ABALONE COVE RDA-ABALONE COVE (380)
ES
111 YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
IBEGINNING FUND BALANCE 5,71 1,836 5,570,898 5,603209 5,803,209 .282,911 60.-661
REVENUES
I 347.10 INTEREST EARNINGS 303,609 314,370 25,000 300.000 10,000 2.000
375.10 MISCELLANEOUS REVENUES 4,399 2,200 0 4,100 0 0
TOTAL REVENUES 308,008 316,570 25,000 304,100 10,000 2,000
I TRANSFERS IN
391.10 LONG TERM LOAN FROM CITY 0 0 0 0 0 0
I TOTAL TRANSFERS IN 0 0 0 0 0 0
TOTAL.RESOURCES _6;019;844 5;88.7,466 5,628,209 5;907,309. .. ..:292;911 62,661
PROGRAM SUMMARY
ADMINISTRATION(730) 1,894 2,027 8,500 8,500 18,250 18.250
RDA ENGINEERING(731) 3.926 2.456 4,000 4.000 14.000 14.000
AGENCY ATTORNEY(732) 70.711 98.508 30,000 30,000 30.000 30,000
CAPITAL PROJECTS(735) 372,415 181,268 5,509,035 5,581.898 170,000 0
PEER REVIEW CONSULTANTS(738) 0 0 20.000 0 0 0
Ile TOTAL PROGRAMS 448,946
•:284,259. . 5671,535 5 4524,398 232,250 62250
TRANSFERS OUT
391.20 TO DEBT SERVICE FUND 0 0 0 0 0 0
ITOTAL TRANSFERS OUT 0 0 0 0 0 0
1 TOTAL EXPENDITURES 448,946 284,259 5,571,535 5,624.396 232.250 62.250 I
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ENDING FUND BALANCE 5,570,898 5,603;209 56;674 282.911 60,661 411
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PROGRAM' FUND:
RDA-ABALONE COVE - RDA-ABALONE COVE (380)
ADMINISTRATION (7301
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 1,894 2,027 7,000 7,000 17,000 17.000
50 OPERATING SUPPLIES/MINOR EQUIPMENT 0 0 1,000 1,000 1,000 1,000
53 POSTAGE 0 0 500 500 250 250
TOTAL OPERATIONS&MAINTENANCE 9.894 2,027 8:500 8:500 18.250 18,250
PROGRAM TOTAL. 1;894- 2;027 8,500 8,500 48.250 18250
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IProgram: RDA Abalone Cove -Administration (380-730)
• Adopted Proposed
Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL AND TECHNICAL SERVICES 17,000 17.000
IThe FY 01-02 and FY 02-03 budgets have been increased
to cover the cost of general administrative assistance that
I was previously provide to the Redevelopment Agency on a
pro-bono basis. The following services have been
budgeted:
I1. General administrative assistance not related to specific
capital projects. ($15,000)
I2. Annual auditing services. ($2,000)
.50 OPERATING SUPPLIES 1,000 1,000
IThis line item provides for miscellaneous blueprints and
other supplies for general administration of the Abalone
Cove project area.
.53 POSTAGE 250 250
IleThis line item provides for the mailing of notices to
residents and other related correspondence.
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PROGRAM: FUND:
RDA -ABALONE COVE - RDA ENGINEERING (731) RDA -ABALONE COVE (380)
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAL/TECHNICAL SERVICES 3,926 2,456 4,000 4,000 14,000 14,000
TOTAL OPERATIONS&MAINTENANCE 3,926 2,456 4,000 4,000 14,000 14,000
PROGRAM TOTAL 3,926 2,456 4,000 4,000 14,000 14,000 I
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Program: RDA Abalone Cove - Engineering (380-731)
• Adopted Proposed
III Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES 14,000 14,000
IContract services provide for GPS monitoring of twenty-
two monuments in the Abalone Cove area, as
I recommended by the Agency Geologist. The FY 01-02
and FY 02-03 budgets have been increased because the
Redevelopment Agency intends to install new continuous
I monitoring monuments, as well as replace some of the
existing monuments with the new continuous monitoring
devices.
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PROGRAM: FUND:
RDA -ABALONE COVE -AGENCY RDA -ABALONE COVE (380)
ATTORNEY (732)
gri
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.40 LEGAL SERVICES 70,711 98,508 30,000 30,000 30,000 30,000
TOTAL OPERATIONS&MAINTENANCE 70,711 98,508 30,000 30,000 30,000 30,000
PROGRAM TOTAL 70,711 98,508 30,000 30,000 30,000 30,000 1
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Program: RDA Abalone Cove - Agency Attorney (380-732)
• Adopted Proposed
II Code Description FY 01-02 FY 02-03
.40 LEGAL SERVICES 30,000 30,000
1 This line item provides for contract legal services to the
agency on an as-needed basis. Actual costs will vary from
Iyear to year based on project activity.
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PROGRAM: FUND:
RDA -ABALONE COVE -CAPITAL PROJECTS RDA -ABALONE COVE (380)
aall
(735)
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YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAUTECHNICAL SERVICES 369,576 177,891 293,200 293,200 170,000 0
.50 OPERATING SUPPLIES 38 1,677 3,000 3,000 0 0
.55 LEGAL NOTICE PUBLICATION 302 1,700 2,000 2,000 0 0
TOTAL OPERATIONS&MAINTENANCE 369,916 181,268 298,200 298,200 170,000 0
CAPITAL OUTLAY
.82 IMPROVEMENTS OTHER THAN BUILDINGS 2,499 0 5,210,835 5,283,698 0 0
TOTAL CAPITAL OUTLAY 2,499 0 5,210,835 5,283,698 0 0
I PROGRAM TOTAL 372,415 181,268 5,509,035 5,581,898 170,000 0
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Program: RDA Abalone Cove - Capital Projects (380-735)
• Adopted Proposed
ICode Description, FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES 170,000 • -0-
The Abalone Cove Sanitary Sewer System project is
expected to be completed during FY 00-01, and the total
expenditures for this project have depleted most of the
RDA Abalone Cove fund balance. The remaining fund
balance will be allocated to engineering services for the
' Altamira Canyon Drainage Improvement project. These
services include the preparation of easements, design
services and/or design revisions, and inspection services
' during project construction. Design of the project was
awarded in FY 00-01 and construction is scheduled to
begin in FY 01-02. Total costs for this project are
estimated to be $1,050,276, funded with $170,000 of RDA
funds and $880,276 of CDBG funds. Approximately
$105,000 of CDBG funds will be used for the project
design in FY 00-01, and $775,276 is budgeted in FY 01-02
' for construction in the CDBG fund.
.50 OPERATING SUPPLIES AND MINOR EQUIPMENT -0- -0-
IleThis line item provides for blueprint services and supplies
for capital projects. The FY 01-02 and FY 02-03 budgets
are zero because there are no construction plans for any
capital projects.
' .55 LEGAL NOTICE PUBLICATION -0- -0-
This line item provides for legal notice publication of capital
projects. The FY 01-02 and FY 02-03 budgets are zero
because there are no construction plans for any capital
projects.
' .82 IMPROVEMENTS OTHER THAN BUILDINGS -0- -0-
There are no capital projects budgeted for construction in
' FY 01-02 and FY 02-03. The Abalone Cove Sanitary
Sewer System project is expected to be completed during
FY 00-01, and the total expenditures for this project have
depleted most of the RDA Abalone Cove fund balance.
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PROGRAM: FUND:
RDA -ABALONE COVE -PEER REVIEW RDA -ABALONE COVE (380) '
CONSULTANTS (738) liri
YEAR-END
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
OPERATIONS&MAINTENANCE
.35 PROFESSIONAUTECHNICAL SERVICES 0 0 20,000 0 0 0
TOTAL OPERATIONS&MAINTENANCE 0 0 20,000 0 0 0
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PROGRAM TOTAL 0 0 20,000 0 0 0 I
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Program: RDA Abalone Cove - Peer Review Consultants (380-738)
• Adopted Proposed
II Code Description FY 01-02 FY 02-03
.35 PROFESSIONAL/TECHNICAL SERVICES -0- -0-
IThe Panel of Experts disbanded during FY 95-96 and no
review work is anticipated by peer review consultants in FY
I01-02 and FY 02-03.
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PROGRAM: FUND:
RDA HOUSING SET ASIDE(318) RDA HOUSING SET ASIDE(118)
Aiik II
YEAR-END WE
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
IBEGINNING UNRESERVED FUND BALANCE 794,499 931,934 1,045,497 1,045,497 448,105 539,105 I
REVENUES
311.10 PROPERTY TAXES 92,621 101,495 87,120 106,000 113,000 115,000
347.10 INTEREST EARNINGS 44,814 42,503 13,000 24,000 28,000 35,000
364.10 GRANT INCOME 0 0 0 0 0 0
TOTAL REVENUES 137,435 143,998 100,120 130,000 141,000 150,000
I TOTAL RESOURCES 931,934 1,075,932 1,145,617 1,175,497 589,105 689,105
EXPENDITURES
35 PROFESSIONAL/TECH SERVICES 0 30,435 50,000 25,000 50,000 50,000
.80 LAND(see Note A below) 0 0 748,000 702,392 0 0
.82 IMPROVEMENT OTHER THAN BLDGS 0 0 0 0 0 0
TOTAL CAPITAL OUTLAY 0 30,435 798,000 727,392 50,000 50,000
391.20 TRANSFER TO CIP FUND 0 0 0 0 0 0
TOTAL TRANSFERS 0 0 0 0 0 0
I TOTAL EXPENDITURES 0 30,435 798,000 727,392 50,000 50,000
I ENDING UNRESERVED FUND BALANCE 931,934 1,045,497 347,617 448,105 539,105 639,105 I "MI
Note A-A tract of land along Crestridge was purchased in the amount of$702,392 during FY 00-01. Management expects that the property will be
used to build a housing project that will satisfy the City's low and moderate income housing requirements in accordance with State law.
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RDA - HOUSING SET-ASIDE FUND
• FY 2002-2003
Program 318: RDA - Housing Set-Aside
Adjustments from the proposed budget to the final budget adopted on June 12, 2002.
Proposed Final
Type Account Description Item of Change Budget Budget
Revenue 118-347-10 Interest Earnings 35,000 18,000
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Program: RDA Housing Set-Aside Fund (118-318)
•
' The Housing Set-Aside Fund is used to account for the portion of Redevelopment tax increment
revenue to be set-aside for the development of low and moderate income housing. This set-
aside of tax increment is a requirement under California Redevelopment Law Section 33334.
Adopted Proposed
Code Description FY 01-02 FY 02-03
' 35 PROFESSIONAL/TECHNICAL SERVICES 50,000 50.000
This line item provides for consulting services to assist the
Agency in the administration of the Housing Set-Aside
program development and reporting requirements.
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FUNCTION: FUND:
DEBT SERVICE (610) DEBT SERVICE (210)
YEAR-END WE
ACTUAL ACTUAL BUDGET ESTIMATE BUDGET BUDGET
1998-99 1999-00 2000-01 2000-01 2001-02 2002-03
IBEGINNING FUND BALANCE 182,319 175,158 234,222 234,222 287,153 358,503 1
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REVENUES
311.10 PROPERTY TAX INCREMENT 370,483 405,978 348,500 426,000 451,000 460,000
347.10 INTEREST EARNINGS 1,327 922 600 600 600 600
395.50 LONG TERM ADVANCE FROM CITY 600,818 731,788 799,150 919,010 999,480 1,092,050
TOTAL REVENUES 972,628 1,138,688 1,148,250 1,345,610 1,451,080 1,552,650
TRANSFERS IN
391.10 FROM AB COVE CAPTL PRJCTS FUND 0 0 0 0 0 0
TOTAL TRANSFERS IN 972,628 0 0 0 0 0
1 TOTAL RESOURCES 1,154,947 1,313,846 1,382,472 1,579,832 1,738,233 1,911,153
EXPENDITURES
.92 PASS THRU TO L.A. CO FIRE DISTRICT 77,768 85,249 74,050 90,000 96,000 98,000
.35 COUNTY ADMINISTRATIVE FEE 9,029 9,260 9,750 10,919 11,500 12,500
.90 REPAYMENT OF PRINCIPAL 0 0 0 0 0 0
.91 INTEREST EXPENSE 892,992 985,115 1,096,900 1,191,760 1,272,230 1,364,800
TOTAL EXPENDITURES 979,789 1,079,624 1,180,700 1,292,679 1,379,730 1,475,300
I ENDING FUND BALANCE 175,158 234,222 201,772 287,153 358,503 435,853 I
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• RDA - DEBT SERVICE FUND
FY 2002-2003
Program 610: RDA - Debt Service
Adjustments from the proposed budget to the final budget adopted on June 12, 2002.
Proposed Final
Type Account Description Item of Change Budget Budget
Revenue 210-395-50 Long-Term Advance From City 1,092,050 682,050
Expenditure 210-610-91 Interest Expense To City for Port Bend/Ab Cove 1,067,050 657,050
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Program: RDA Debt Service Fund (210-610)
The Debt Service Fund is used to account for the accumulation of resources for the payment of
principal and interest on the Redevelopment Agency's debt and other long-term obligations.
The Agency's gross property tax increment revenue (net of the 20% Housing Set-Aside
amount) is recorded in this fund. Property tax increment is the portion of property taxes
attributable to the Redevelopment Agency project area that exceed the fixed base-year amount.
The base-year of FY 1984-85 is the year in which the Agency was formed.
Adopted Proposed
Code Description FY 01-02 FY 02-03
395.50 LONG TERM ADVANCE FROM CITY 999,480 1,092,050
This line item provides for the long-term advance from the
City to the Agency to record the unpaid accrued interest on
' all outstanding loans from the City to the Agency. The
interest expense is recorded below in account code .91.
' .92 PASS THRU TO LOS ANGELES COUNTY 96,000 98,000
Property tax increment revenues are recorded as a gross
' amount. However, the Agency does not receive 100% of
the tax increment. The Los Angeles County Fire Protection
District receives approximately 17% of the tax increment.
This budget line item reflects the portion of the tax increment
that is remitted to the Fire District directly by the County.
' .35 PROFESSIONAL/TECHNICAL SERVICES 11,500 12,500
This line item provides for the payment of an administrative
fee to the County for their overhead costs in administering
the property tax system. All entities receiving property tax
revenue are charged an administrative fee by the County
' and it is anticipated the amount will increase slightly in both
FY 01-02 and FY 02-03.
.91 INTEREST EXPENSE 1,272,230 1,364,800
This line item provides for recording the interest expenditure
on the following debts of the Redevelopment Agency:
' The interest accumulating on the loans from the City to
the Portuguese Bend Fund of the Agency. FY 01-02
($775,750) and FY 02-03 ($849,440).
The interest accumulating on the loan from the City to the
' Abalone Cove Fund of the Agency. FY 01-02 ($198,730)
and FY 02-03 ($217,610).
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Program: RDA Debt Service Fund (210-610)
Code Description
.91 INTEREST EXPENSE (Continued)
The scheduled interest payments to the County of Los
Angeles on the tax increment bond issued in 1997. FY 01-
02 ($272,750) and FY 02-03 ($272,750).
The amount of tax increment revenue to be applied against I
the outstanding deferred interest per the terms of the 1997
bond restructuring with the County. This figure is estimated i
and is contingent on the amount of accumulated tax
increment available on December 1st of each year. FY 01-
02 ($25,000) and FY 02-03 ($25,000).
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