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7.B. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> June 24, 2013 <br /> SUBJECT <br /> Fiscal Year 2013-14 Budget (Successor Agency) <br /> RECOMMENDATION <br /> By resolution, adopt the FY 2013-14 Budget for the Successor Agency to the Redwood <br /> City Redevelopment Agency. <br /> BACKGROUND <br /> On June 3rd the City Council/Successor Agency held a budget study session at which <br /> time the Council/Successor Agency reviewed the published recommended FY 2013-14 <br /> budget as submitted by the City Manager/Executive Director. <br /> Included in the budget that was presented to Council was a budget for the Successor <br /> Agency. This budget appears on Budget Summary page 5. After reviewing the budget <br /> for the Successor Agency, the Successor Agency Board directed no changes to the <br /> budget as subm itted. <br /> ANALYSIS <br /> The recommended changes are consistent with the Successor Agency Board's direction <br /> on the adoption of the proposed budget. <br /> A copy of the recommended budget is on file with the office of the City Clerk for public <br /> review. <br /> ALTERNATIVES <br /> The City Charter requires that the Council adopt a budget by resolution. Not adopting a <br /> budget would place the City out of compliance with the City Charter. <br /> FISCAL IMPACT <br /> Adopting the FY 2013-14 budget will provide authority for the Successor Agency to <br /> continue operations this coming fiscal year. <br /> ENVIRONMENTAL REVIEW <br /> This activity is not a project under CEQA as defined in CEQA Guidelines, section <br /> 15378, because it has no potential for resulting in either a direct or foreseeable physical <br /> change in the environment. <br />