Housing - 2005-01 - Annual Budget for FY 2005-06RESOLUTION NO. 2005-01
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT COROPORATION
OF THE CITY OF ROSEMEAD ADOPTING THE ANNUAL BUDGET FOR FISCAL
YEAR 2005-06 AND MAKING APPROPRIATIONS FOR THE AMOUNT BUDGETED
WHEREAS, an Annual Budget for the Rosemead Housing Development
Corporation for the fiscal year commencing July 1, 2005 and ending June 30, 2006 was
submitted to the Housing Development Directors and is on file in the City Clerk's office.
NOW, THEREFORE, THE HOUSING DEVELOPMENT DIRECTORS OF THE
ROSEMEAD HOUSING DEVELOPMENT CORPORATION DO RESOLVE AS FOLLOWS:
Section 1. The Budget is adopted as the Annual Budget of the Rosemead Housing
Development Corporation for the fiscal year commencing July 1, 2005 and ending June 30,
2006.
Section 2. There is hereby appropriated to each account set forth in the
"Summary of Expenditures by Category" of said budget attached hereto, and made a part
hereof as though 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 28th day of June, 2005.
ATTEST:
Corporation Secretary
I hereby certify that the foregoing Resolution No.
2005-01 was duly and regularly adopted by the
Rosemead Housing Development Corporation at a
regular meeting held on the 28th day of June 2005,
by the following vote:
Yes: Clark, Imperial, Taylor, Nunez, Tran
No: None, Absent: None, Abstain: None
Ci y Clerk
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
SUMMARY OF EXPENDITURES BY CATEGORY
2004-05 2005-06
Projected Budget
ADMINISTRATIVE (Cost Center 4270)
Legal Fees $0 $3,000
Auditing Fees 10,000 13,000
Department Supplies 0 300
Travel and Meeting Expenses 0 500
Membership/Subscription 0 500
City Services 219,600 219,600
TOTAL ADMINISTRATIVE $229,600 $236,900
SPECIAL PROJECTS (Cost Center 4275):
First Time Home Buyers Program $0 $100,000
Management Contract - Angelus 150,000 161,000
Special Insurance - Angelus 5,000 5,000
Lease Payment - Angelus 60,000 60,000
Management Contract - Garvey 152,500 162,000
Special Insurance - Garvey 10,000 10,000
Lease Payment - Garvey 72,000 72,000
TOTAL SPECIAL PROJECTS
HOUSING REHABILITATION (Cost Center 4280):
Planning and Administration
Residential Rehabilitation
TOTAL HOUSING REHABILITATION
$449,500 $570,000
$0
$0
0
0
$0
$0
RHDC FUND TOTAL $679,100 $806,900