Laserfiche WebLink
6.3.C. - Page 2 <br />The adoption of an annual budget is required by the State's Health and Safety Code <br />Section 33606. The revenues and fixed obligations are estimates based upon <br />anticipated tax increment receipts and tax sharing agreements. The Agency Board may <br />choose to modify the administrative and capital expenditures as appropriate, as long as <br />they are consistent with the requirements of State Redevelopment law. If the Board <br />should elect to increase expenditures, staff will need to determine whether sufficient <br />resources would be available to support such increases. Alternatively, should the Board <br />elect to reduce the proposed expenditures, additional resources would be available for <br />spending in subsequent years, assuming the State does not further attempt to use <br />those funds. <br />FISCAL IMPACT <br />Sufficient resources exist in the form of funding on hand plus anticipated revenues to <br />support the recommended budget. Formal approval of the budget will allow staff to <br />proceed with the implementation of the work program consistent with State law and the <br />Agency goals if the Agency remains. <br />Jeannie Young <br />Project Manager <br />Bob Bell <br />Executive Director, Redevelopment Agency <br />Jill Ekas, AICP <br />Planning Manager <br />ATTACHMENTS <br />1. Resolution of the Redevelopment Agency approving the annual budget for Fiscal <br />Year 2011 -2012 <br />2. Redevelopment Agency Annual Budget Report FY 2011/12 <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />