Housing - 2009-01 - Adopting the Housing Annual Budget for FY 2009-10RESOLUTION 2009-01
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION ADOPTING THE ANNUAL BUDGET FOR THE 2008-09
FISCAL YEAR
WHEREAS, a proposed annual budget for the Rosemead Housing
Development Corporation for the Fiscal Year commencing July 1, 2009 and
ending June 30, 2010 was submitted to the Housing Development Board of
Directors for their review and consideration and the proposed annual budget is
on file in the City Clerk's office; and
WHEREAS, on June 23, 2009 a budget study session and a public
hearing were held; and
NOW, THEREFORE, THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION BOARD OF DIRECTORS DOES RESOLVE AS FOLLOWS:
1. The 2009-10 Annual Budget is hereby adopted.
2. There is hereby appropriated to each account group set forth in the
Annual Budget attached hereto, and made a part hereof as though fully
set forth herein, the sum shown for such account groups in the 2009-
10 Adopted Column.
3. The President shall sign and the City Clerk shall certify to the passage;
and adoption of this Resolution and thereupon the same shall take
effect and be in force.
PASSED, APPROVED and ADOPTED the 23rd day of June, 2009.
MARGARET LARK, PRESIDENT
ATTEST:
(511 rA
GLORIA MOLL D , CORP. SECRETARY
QC~twvsna~cfr w c. rn c~+ttMt
C TY TTORNEY
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD
I, Gloria Molleda, Corporation Secretary of the City of Rosemead, do hereby certify that
the foregoing Resolution No. 2009-01 being:
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION ADOPTING THE ANNUAL BUDGET FOR THE 2009-10
FISCAL YEAR
was duly and regularly approved and adopted by the Rosemead Housing Corporation on
the 23rd of June, 2009, by the following vote to wit:
Yes: Armenta, Clark, Low, Ly, Taylor
No: None
'Abstain: None
Absent: None
J621 a KI 1 9
Gloria Molleda
Corporation Secretary
ROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
TO
FROM:
DATE:
THE HONORABLE PRESIDENT AND BOARD OF DIRECTORS
JEFF ALLRED, EXECUTIVE DIRECTOR
JUNE 23, 2009
SUBJECT: ADOPTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION'S FISCAL YEAR 2009-10 ANNUAL BUDGET
SUMMARY
The Rosemead Housing Development Corporation's fiscal year 2009-10 Annual
Budget (Attachment A) is as follows:
Total Appropriations: $2,056,132
Staff Recommendation
Staff recommends that the Corporation Board of Directors adopt Resolution No. 2009-
01 approving the fiscal year 2009-10 Annual Budget in the amount of $761,200.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Steven Brisco
Finance Director
Attachment A: Annual Budget
Attachment B: Resolution No. 2009-01
APPROVED FOR CORPORATION AGENDA: ITEM NUMBER: 3 A
ATTACHMENT A
ROSEMEAD HOUSING DEVELOPMENT CORP.
ANNUAL BUDGET
FISCAL YEAR 2009-10
ROSEMEAD
HOUSING DEVELOPMENT
CORPORATION
ANNUAL BUDGET
JULY 1, 2009 - JUNE 30, 2010
MARGARET CLARK
CHAIRPERSON
GARY TAYLOR
VICE-CHAIRPERSON
POLLY LOW
COMMISSIONER
STEVENLY
COMMISSIONER
SANDRA ARMENTA
COMMISSIONER
JEFF ALLRED
EXECUTIVE DIRECTOR
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
PRELIMINARY BUDGET
FISCAL YEAR 2009-10
TABLE OF CONTENTS
1. SUMMARY OF FUND BALANCE
RHDC Funds
II. SUMMARY OF EXPENDITURES BY CATEGORY
PAGE
1
Administration 2
Special Projects 2
Housing Rehabilitation 2
III. CHART OF ACCOUNTS
Revenues 3
Expenditures 3
IV. EXPENDITURE DETAIL
COST
CENTER
Administration 4870
Special Projects 4875
Housing Rehabilitation 4880
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
SUMMARY OF FUND BALANCE
RESOURCES:
Funds Available at July 1
Transfers from Redevelopment Agency
Housing Set-Aside Fund
Transfers from HOME Fund
Rental Income
Miscellaneous Revenue
Total Funds Available
EXPENDITURES:
Administrative Expenditures
Special Project Expenditures
Rehabilitation Expenditures
Due to Other Funds
Total Disbursements
FUND BALANCE AT JUNE 30
2008-09 2009-10
Projected Budget
$ 938,241 $ 169,117
250,000 250,000
1,294,932
410,500
411,700
6,300
10,600
1,605, 041
2,136, 349
225,675 228,700
507,049 1,827.432
703,200 -
1,435,924 2,056,132
$ 169,117 $ 80,217
- 1 -
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
SUMMARY OF EXPENDITURES BY CATEGORY
ADMINISTRATIVE (Cost Center 4270)
Legal Fees
Auditing Fees
Department Supplies
Miscellaneous Expenses
Travel and Meeting Expenses
Membership/Subscription
City Services
TOTAL ADMINISTRATIVE
SPECIAL PROJECTS (Cost Center 4275)
HOME Program Expense
Management Contract - Angelus
Special Insurance -Angelus
Lease Payment - Angelus
Management Contract - Garvey
Special Insurance - Garvey
Lease Payment - Garvey
TOTAL SPECIAL PROJECTS
HOUSING REHABILITATION (Cost Center 4280)
Planning and Administration
Residential Rehabilitation
TOTAL HOUSING REHABILITATION
RHDC FUNDS TOTAL
2008-09 2009-10
Projected Budget
$ -
$ 500
6,000
6,000
75
100
-
1,500
500
500
219,600
219,600
$ 225,675
$ 228,700
$ -
$ 1,294,932
163,800
183,000
5,981
6,500
60,000
60,000
193,700
199,000
11,568
12,000
72,000
72,000
$ 507,049 $ 1,827,432
$ 732,724 $ 2,056,132
-2-
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
CHART OF ACCOUNTS
REVENUE
3510 Rental Income
3985 Miscellaneous Revenue
3995 Transfers from RDA - Housing Set-Aside Fund
EXPENDITURES
Administration (4270):
4340
Legal Fees
4410
Auditing Fees
5010
Department Supplies
6450
Travel and Meeting Expense
6460
Membership/Subscription
Special Projects (4275):
4221
Project Management
4461
Management Contract Expenses
6230
Special Insurance
6412
First Time Home Buyers Program
6415
Home Threshold (Matching Funds)
6475
Lease Payment
Housing Rehabilitation (4280):
4293 Planning and Administration
4294 Residential Rehabilitation
3-
ROSEMEAD HOUSING DEVELOPMENT CORP.
PRELIMINARY BUDGET
FISCAL YEAR 2009-10
FUNCTION: Housing Development ACTIVITY: Administration ORGANIZATION: 4270
"n'.. 'MC, 3 Y ft-K £ 4 ~Y x vvd 1 n t Eit si .ti
t~+x ski e;;.` y+'a vn. r
~ z ',r .,n.:APPROPRIATION DETAIL
.
ACCOUNT 2007-08
008
NO. ACTUA-
F
ESTIMATED BUDGET
ACTIVITY EXPENSE BUDGET
FD/PROJ #
OPERATIONS
4340 Fund 52
Legal Fees
$ 113
$ 3,000
$ -
$ 500
4410 Fund52
Auditing Fees
2,900
10,000
6,000
6,000
5010 Fund52
Department Supplies
75
300
75
100
6410 P71552
Miscellaneous Expenses
-
-
750
6410 P72052
Miscellaneous Expenses
-
-
750
6450 Fund52
Travel and Meeting Expense
-
500
500
6460 Fund52
Membership/Subscription
-
500
500
6500 Fund52
City Services
219,600
219,600
219,600
219,600
Total Operations
222,688
233,900
225,675
228,700
DEPARTMENT TOTAL
$ 222
688
$ 233
900
$ 225
675
$ 228
700
,
,
,
,
ROSEMEAD HOUSING DEVELOPMENT CORP.
PRELIMINARY BUDGET
FISCAL YEAR 2009-10
FUNCTION: Housing Development ACTIVITY: Special Projects ORGANIZATION: 4275
x n 9t - Ye £ x S. ~ L a A Y~ rY ( `f
; APPROPRIATION DETAIL
c i
y ,
U~, ' rb t :h : F Ii t F` SW t P I E:p `~M # FCe h N -At s+
~`"'s ! x ~ t.n., is a iFk d_,; ii fi• v-y,{..a*.~,-#H4..e .~.ri~i. ,a`{ .3ik5,n ,t,.,. .k. „.r.. S1
ACCOUNT 2007-08
NO. ACTUAL 2008-09 2009-10
FD/PROJ # ACTIVITY EXPENSE BUDGET ESTIMATED BUDGET
OPERATIONS - GENERAL
7615 Fund53
HOME Program Expense
$
$
$
$ 1,294,932
Sub-Total GENERAL
1,294,932
OPERATIONS - ANGELUS
4461 P71552
Management Contract Exp.
161,636
154,000
163,800
183,000
6230 P71552
Special Insurance
5,140
5,000
5,981
6,500
6475 P71552
Lease Payment
60,000
60,000
60,000
60,000
Sub-Total ANGELUS SR.
HOUSING PROJECT
226,776
219,000
229,781
249,500
OPERATIONS - GARVEY
4461 P72052
Management Contract Exp.
183,750
173,850
193,700
199,000
6120 P72052
Utilities - Electric
-
-
-
-
6230 P72052
Special Insurance
9,649
10,700
11,568
12,000
6475 P72052
Lease Payment
72,000
72,000
72,000
72,000
Sub-Total GARVEY SR.
HOUSING PROJECT
265,399
256,550
277,268
283,000
Total Operations
492,175
475,550
507,049
1,827,432
CAPITAL OUTLAY
Total Capital Outlay
L
DEPARTMENT TOTAL
$ 492,175
$ 475,550
$ 507,049
$ 1,827,432