Laserfiche WebLink
<br />Page 1 of 2 <br />ATTY/RESO.0055/FISCAL YEAR 2016-17 BUDGET (SUCCESSOR AGENCY) <br />REV: 06-16-16 JS <br />RESOLUTION NO. ____ <br /> <br />A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDWOOD <br />CITY REDEVELOPMENT AGENCY ADOPTING THE BUDGET OF THE <br />SUCCESSOR AGENCY FOR FISCAL YEAR JULY 1, 2016 - JUNE 30, <br />2017 AND PROVIDING FOR THE APPROPRIATION AND <br />EXPENDITURE OF ALL SUMS SET FORTH IN SAID BUDGET <br /> <br /> WHEREAS, the Executive Director of the Successor Agency to the Redwood City <br />Redevelopment Agency (“Successor Agency”) has submitted to the Board of the <br />Successor Agency a proposed annual budget for Fiscal Year July 1, 2016 - June 30, <br />2017; and <br /> <br /> WHEREAS, after duly noticed public hearing, the Successor Agency has approved <br />the budget and it has been certified as the Budget of the Successor Agency for Fiscal <br />Year 2016-2017; and <br /> <br /> WHEREAS, it is the intention of the Successor Agency to adopt the certified copy <br />of the Budget presently on file in the office of the City Clerk as it pertains to the Successor <br />Agency. <br /> <br /> NOW THEREFORE, BE IT RESOLVED BY THE SUCCESSOR AGENCY TO <br />THE REDWOOD CITY REDEVELOPMENT AGENCY AS FOLLOWS: <br /> <br /> SECTION 1. Adoption of Budget. The Budget for the Fiscal Year July 1, 2016 - <br />June 30, 2017, approved by the Successor Agency and certified by the Secretary and <br />Executive Director, presently on file in the office of the City Clerk, is adopted for the <br />Successor Agency. The Budget pertaining to the Successor Agency is contained on <br />Administrative Services page 38 and Community Development page 59 of the Budget <br />document entitled “Recommended Budget FY 2016-2017.” <br /> <br />SECTION 2. Provision for Interim Expenditures after June 30, 2017; <br />Reappropriations. The Executive Director and Finance Director are authorized and <br />directed to charge expenses pertaining to the Successor Agency and incurred prior to <br />July 1, 2017 to the appropriations of Fiscal Year 2016-2017. The Executive Director and <br />Finance Director are further authorized to pay all contractual obligations pertaining to the <br />Successor Agency, including but not limited to payroll, contracts, and other expenses, <br />incurred between July 1, 2017 and the date that the appropriations are adopted for Fiscal <br />Year 2017-2018; to this end the Successor Agency appropriates 1/12 of the amounts that <br />were appropriated for operating purposes in Fiscal Year 2016-2017 to each fund, to be <br />effective July 1, 2017. Upon adoption of a budget for Fiscal Year 2017-2018 this <br />appropriation shall be superseded. <br /> <br /> <br /> <br />8.B. - Page 3