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Home My WebLink About2012-06-12 OB Agenda Item No. 4OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: June 12, 2012 SUBJECT: SUCCESSOR AGENCY ADMINISTRATIVE BUDGET Background AB X1 26 provides for an administrative allowance to each Successor Agency to wind down the former redevelopment agency and administer the Successor Agency and Oversight Board. Pursuant to Health & Safety Code Section 341770), the Successor Agency must prepare an administrative budget and submit it to the Oversight Board for its approval. The proposed administrative budget includes estimated costs for July 1, 2012 through December 31, 2012. Discussion The City Council of the City of Lake Elsinore, as Successor Agency to the Redevelopment Agency of the City of Lake Elsinore is scheduled to meet and consider the administrative budget for the period of July 1, 2012 through December 31, 2012 following this meeting. Staff suggests approving the Administrative Budget subject to adoption by the Successor Agency. The administrative budget covers a percentage of city staff and support costs and other operating costs such as attorney and consultant costs, training and education, supplies, audit fees, record - keeping costs, and related administrative costs required to carry out Successor Agency and Oversight Board activities and administration. The law allows the greater of $250,000 or 3% of the property tax revenues listed on the ROPS. For fiscal 2012/2013, 3% of the property tax revenues listed on the ROPS is $314,788.61, so the Successor Agency is entitled to that amount for the fiscal year. The attached Administrative Budget is for the period July 2012 - December 2012 and provides for a six -month administrative budget of $157,380. AGENDA ITEM 4 Page 1 Successor Agency Administrative Budget June 12, 2012 Recommendation Adopt Resolution No. OB -2012 -010 approving an Administrative Budget of the Successor Agency for the period July 2012 through December 2012, subject to the adoption by the Successor Agency. Prepared and approved by: Barbara Leibold, City Attomey /Successor Agency Counsel Attachments: 1. Resolution No. OB- 2012 -010 — A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore approving an Administrative Budget for the period of July 1, 2012 through December 31, 2012 AGENDA ITEM 4 Page 2 RESOLUTION NO.OB -2012- 010 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING AN ADMINISTRATIVE BUDGET FOR THE SUCCESSOR AGENCY FOR JULY THROUGH DECEMBER 2012 WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ( "Oversight Board ") has been established to direct the Successor Agency to take certain actions to wind down the affairs of the Redevelopment Agency in accordance with the California Health and Safety Code; and WHEREAS, the Oversight Board desires to approve an administrative budget for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, for the period of July 1, 2012 through December 31, 2012, subject to the adoption thereof by the Successor Agency. NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. The Administrative Budget for the period of July 1, 2012 through December 31, 2012, a copy of which is attached hereto and incorporated herein as Exhibit "A ", is hereby approved, subject to the adoption thereof by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore. SECTION 2. This Resolution shall take effect from and after the date of its passage and adoption. PASSED, APPROVED AND ADOPTED at a special meeting of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 12th day of June, 2012 by the following vote: AYES: NOES: ABSENT: ABSTAIN: AGENDA ITEM 4 Page OVERSIGHT BOARD RESOLUTION NO. OB 2012- 010 Page 2 Chairperson, Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ATTEST: Oversight Board Secretary AGENDA ITEM 4 Page 4 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE ADMINISTRATIVE BUDGET JULY TO DECEMBER 2012 DESCRIPTION City Staff Support Costs Operating Costs: Professional Services (Legal) Professional Services (Other) Training & Education Office Supplies Bank Fees Total Operating Costs AMOUNT $ 78,845 60,000 10,000 2,000 6,000 535 78,535 Total Administrative Budget $ 157,380 The Administrative Budget includes city staff and support costs and other operating costs required to carry out Successor Agency and Oversight Board activities and administration. City Staff Support Costs are detailed in Exhibit No. 1 and include a percentage of salaries and benefits based upon City staffs performance of the following Successor Agency activities: weekly staff meetings, preparation of staff reports, preparation of agendas, preparation of minutes, records management, general correspondence, attendance at Successor Agency and Oversight Board meetings, financial management, budgeting and accounts payable, annual reporting, information technology support, website maintenance, and overall Successor Agency and Oversight Board management. Operating Costs include legal services by the Successor Agency Counsel as well as special counsel services such as bond counsel and tax counsel services on an as needed basis including performance of the following activities: legal researchlanalysis and preparation of staff reports and agendas, attendance at Successor Agency and Oversight Board meetings, correspondence and management. Operating Costs also include other professional services such as investment services and financial consulting services, supplies, training and education, and bank fees, which include investment administration, investment services by PFM and other similar services. & SQ012 jrr SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE Allocation of City Staff Support t-abruary to June zuiz SUCCESSOR AGENCY SA%of ALLOCATION OF I Total 4351 �GIS information Technician If 4351 Analyst 4351 information T ' echnoiNy Supervit Total Economic Dev/ IT TOTAL CITY MANAGER'S OFFICE 86,596.68 122,889.24 162,525.55 122,889.24 1ce - - -A 4134 JA�count Specialist 111. 1 86,015.23 4131 Accounting Supervisor 108,266.09 4131 Account Specialist 11 77,012.191 4131 Director 196,960.90 Total Finance i 468,254.42 8,659.67 10% 12,288.92 10% 16,252.551 10% 37.201.151 Total Gross SALARIES & i Salaries & .......... . . .... . Salaries+Bene. I Benefits Division Position 12%_ 12,991.93 &IIL Clerk . 12% 7,701.22 4117 Office Specialist 111 89,261.87 8,926.19: 10% 4117 City Clark --- 106,836-11 j 10,683-61 -10% TOTAL CITY CLERK 196,097.98 L 19,609.80 City Manager 4120 jRd�yManaq pr 270,W3.64 27.086.36 10% 4120 __ IManagement Analyst 132,337.05 13,233.71 10% Executive Assistant 100,870.56 - 0% Total City Manager 1 I 504,071.26 40,320.071 4351 �GIS information Technician If 4351 Analyst 4351 information T ' echnoiNy Supervit Total Economic Dev/ IT TOTAL CITY MANAGER'S OFFICE 86,596.68 122,889.24 162,525.55 122,889.24 1ce - - -A 4134 JA�count Specialist 111. 1 86,015.23 4131 Accounting Supervisor 108,266.09 4131 Account Specialist 11 77,012.191 4131 Director 196,960.90 Total Finance i 468,254.42 8,659.67 10% 12,288.92 10% 16,252.551 10% 37.201.151 TOTAL ADMINISTRATIVE SERVICES 468.254.42 60.559.11 ..... ............ ................................ . ............... . . TOTAL SALARIES & BENEFITS 1,370,725.67 157,690.13 Monthly Amount $ 13,140.84 , July to December 2012 j $ 78,845.06 6WO12jrr Exhibit No. 1 . . .......... .. -n.62122. .......... . . .... . 10,321.83 12%_ 12,991.93 12% 7,701.22 10% 29,544.14 15% 60,559.11 TOTAL ADMINISTRATIVE SERVICES 468.254.42 60.559.11 ..... ............ ................................ . ............... . . TOTAL SALARIES & BENEFITS 1,370,725.67 157,690.13 Monthly Amount $ 13,140.84 , July to December 2012 j $ 78,845.06 6WO12jrr Exhibit No. 1