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<br />~A-IO
<br />The following chart summarizes the revenue and expenditures during the year:
<br />
<br />Revenue and Expenditures 2000-2001
<br />
<br />Beginning Balance 7/1/00
<br />
<br />Revenue/Interest
<br />
<br />Expenditures:
<br />Debt Service
<br />Sequoia Station
<br />Administration
<br />First Time Homebuyer
<br />Habitat
<br />Site Acquisition
<br />Home Improvement Loans
<br />Tax Apportionment
<br />Cinema Land Payment
<br />Economic Development
<br />Storefront Improvements
<br />Downtown Parking Structure
<br />Total Expenditures
<br />
<br />Fund 806
<br />(Housing)
<br />
<br />2,399,020
<br />
<br />1,582,114
<br />
<br />284,822
<br />
<br />666.878
<br />1,500,000
<br />100,000
<br />837,556
<br />300,000
<br />
<br />3,689,256
<br />
<br />Fund 807
<br />(General
<br />Fund)
<br />2,212,722
<br />
<br />3,580,749
<br />
<br />1,139,288
<br />300,000
<br />698,152
<br />
<br />0
<br />0
<br />
<br />500,000
<br />42,321
<br />300,000
<br />100,000
<br />2,226,495
<br />5,306,256
<br />
<br />Total
<br />
<br />4,611,420
<br />
<br />5,162,863
<br />
<br />1,424,110
<br />300,000
<br />1,365,0306
<br />1,500,000
<br />100,000
<br />837,556
<br />300,000
<br />500,000
<br />42,321
<br />300,000
<br />100,000
<br />2,226,495
<br />8,995,512
<br />
<br />Ending Balance 6/30/00
<br />
<br />779,093
<br />
<br />291,878
<br />
<br />487,215
<br />
<br />These numbers constitute the official budget for Redevelopment. The Redevelopment Budget
<br />numbers displayed in the City's Proposed Budget are presented there to make the document as
<br />complete as possible. Attachment I to this report illustrates how the Redevelopment budget
<br />numbers in the Proposed City Budget relate to the above numbers.
<br />
<br />IV. PROPOSED INDEBTEDNESS FOR 2000-2001
<br />
<br />Health and Safety Code Section 33606 requires the Agency's annual budget to contain information
<br />about any proposed indebtedness to be incurred by the Agency. Redevelopment Agency's are
<br />required to function in a debt situation. The Agency can only make a claim on tax increment from
<br />the County to the extent that it has debt that equals or exceeds the amount requested.
<br />
<br />The Redevelopment Agency is considering a tax allocation bond issue in 2000-2001. No final
<br />decision has yet been made but if issued, the bond proceeds would be to assist the Agency to
<br />finance a parking structure in the Downtown area.
<br />
<br />6 These administrative costs are included within the totals shown on pages 101 and 103 of the City's Proposed Budget. For
<br />Example: The $666,878 in administration charged to fund 806 is part of the larger number shown on page 101 of the City budget.
<br />All of the employee, intemal service and capital allocation costs are part of the $666,878, with the balance consisting of supplies
<br />and service costs. Likewise, the $698,152 in administrative costs charged to fund 807 are subsumed within the larger numbers
<br />shown on page 103 of the City Budget.
<br />
<br />9
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