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Ms. Christensen inquired about staff costs and how these will be accounted for in the administrative budget. There was a question if the Successor Agency budget had been approved and Mr. Ekern said this has not been approved. Ms. Ramirez explained this will come back to the Oversight Board with the ROPS. She added that it is the role of the Oversight Board to review the Successor Agency Administrative budget. The Administrative Budget will be discussed in more detail and Ms. Ramirez requested that Legal Counsel for the Oversight Board address these issues at the next meeting. The value and computation for the Administrative Budget was discussed. The approval of the ROPS was discussed in detail and what happens if the Oversight Board does not approve of it. Ms. Ramirez commented that the Department of Finance has the final word. Mr. Roberts inquired who will be authorizing the expenditure of funds. Ms. Christensen, questioned the $1.9 million figure for staffing, and transfer of assets transacti4ns. Mr. Ponty took note of these issues to be addressed at the next meeting. VI. Selection of Chair/Vice Chair Mr. Holland was nominated by Alicia Aguirre, second by Barbara Christensen to be the Chair. Motion carried unanimously. Mr. Roberts was nominated by Alicia Aguirre, second by Barbara Christensen to act as Vice Chair. Motion carried unanimously. VII. Set Future Agenda Items/Dates Items agreed on for future agendas: -Review and approval of the ROPS -Approval of Mr. Ladabie's Professional Services Agreement - Review of any items listed on the ROPS including transfers and RDA assets for any contracts between the City and the RDA since January 2011 -Approval of the Oversight Board Administrative Budget -Composition of the Board Mr. Bell referred to a document in the binder (under tab six) which addresses the transfers between the City and the Redevelopment Agency post January 2011. He covered other documents included which might shed some light on some of the posed questions. There was some interest in having the staff report that is going to the City Council accompanying the ROPs on April 9, 2012. Mr. Ponty offered to share it with the Oversight Board. Mr. Bell thanked the staff for all the work done in terms of the audit and the preparation of the information leading up to this meeting. VI . Public Comments - Ther,e was no pub/ic comment r' �. � Adjourn — e meeting adjourned at3:40 p.m. Respe ul mitt , Silvia " den, City le Approved at the Oversight Meeting of April 12, 2012. 5