CDC - Item 2C - Interim Budget AmendmentsROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION
STAFF REPORT
TO: HONORABLE CHAIRMAN AND COMMISSIONERS
FROM: MATTHEW E. HAWKESWORTH, ACTING EXECUTIVE DIRECTOR
DATE: JUNE 9, 2009
SUBJECT: INTERIM BUDGET AMENDMENTS
SUMMARY
From time to time, when changing circumstances warrant, it becomes necessary to
amend the budget. The attached resolution amends the budget with the addition of
$529,520 of appropriations in the Rosemead Community Development Commission
(RCDC) Capital Projects Fund.
STAFF RECOMMENDATION
Staff recommends that the City Council adopt the attached resolution number 2009-16.
ANALYSIS
The attached resolution is required primarily for clerical clean up of individual budget
line items. In FY 2007-08 the Commission approved $4.4 million for the purchase of the
Rosemead Inn but due to a delay in the closing of escrow until July 2009 appropriations
for the purchase need to be approved in the FY 2008-09 budget. The attached entries
move the appropriations from a non-project specific account number to a project
specific account number and appropriate $3,820 more for incidental expenditures such
as utilities related to hotel acquisition. Another $483,500 is appropriated for the
acquisition for a total acquisition appropriation of $4,342,320.
At the time the Rosemead Park walking trail was approved a $50,000 recycling grant
was included as a funding source. As the project commenced the grant became
unavailable and RCDC funds need to be appropriated to make up for the loss of the
grant revenue. An appropriation for a $42,200 transfer from RCDC to the CIP fund is
included in the attached resolution to pay for the cost of construction of the trail. The
trail project received $155,000 of TDA Article 3 revenue which was budgeted in the CIP
fund.
ITEM NO.-2L--
APPROVED FOR COMMUNITY DEVELOPMENT COMMISSION AGENDA:
Community Development Commission Meeting
June 9, 2009
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PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Steven Brisco
Finance Director
Attachment: Resolution 2009 -16
RESOLUTION NO. 2009 -16 (CONT'D)
The additional appropriation is made a part of the approved FY2008-09 budget as though
it were a part of the initial approved budget fully set forth and the Executive Director is
authorized and empowered to expend such sum for the purpose of such account, but with
no expenditure by any office or department for any item within an account shall exceed the
amount budgeted therefore without prior written approval of the Executive Director
PASSED, APPROVED and ADOPTED this 9ih day of June 2009.
Chairperson
ATTEST:
City Clerk
APPROVED FOR COUNCIL AGENDA:
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