OB - 2012-0009 - Approving the Recognized Obligation Payment Schedules for the Period of January 1, 2013 through June 30, 2013C7
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SUMMARY OF RECOGNIZED OBLIGATION PAYMENT SCHEDULE
Filed for the January 1, 2013 to June 30, 2013 Period
Name of Successor Agency: City of Rosemead
Certification of Oversight Board Chairman:
Pursuant to Section 34177(m) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency.
Total Outstanding
Debt or Obligation
Outstanding Debt or Obligation
$ 91,519,156
Current Period Outstanding Debt or Obligation
Six -Month Total
A
B
C
D
Available Revenues Other Than Anticipated RPTTF Funding
Anticipated Enforceable Obligations Funded with RPTTF
Anticipated Administrative Allowance Funded with RPTTF
Total RPTTF Funded B + C = D
229406
1315144
126345
1441789
Total Current Period Outstanding Debt or Obligation (A+ B + C = E) Should be same amount as ROPS form sir -month total
$ - 1
E Enter Total Six -Month Anticipated RPTTF Funding (obtain from county auditor-controller)
F
- Variance D - E = F Maximum RPTTF Allowable should not exceed Total Anticipated RPTTF Funding
$ (1,441,789)
Prior Period (January 1, 2012 through June 30, 2012) Estimated vs. Actual Payments (as required in HSC section 34186 (a))
G
H
I
J
Enter Estimated Obligations Funded by RPTTF (Should be the lesser of Finance's approved RPTTF amount including admin allowance or the actual amount distributed)
Enter Actual Obligations Paid with RPTTF
Enter Actual Administrative Expenses Paid with RPTTF
Ad to Redevelopment Obligation Retirement Fund G - H + I = J
1155366
966165
161952
27249
- K
Adjusted RPTTF (The total RPTTF requested shall be adjusted if actual obligations paid with RPTTF are less than the estimated obligation amount.)
$ 1,414,540.00
Certification of Oversight Board Chairman:
Pursuant to Section 34177(m) of the Health and Safety code,
I hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency.
ROSEMEAD SUCCESSOR
AGENCY STAFF REPORT
TO: THE HONORABLE CHAIR AND BOARD MEMBERS
FROM: MATTHEW HAWKESWORTH, ASSISTANT CITY MANAGER
DATE: AUGUST 13, 2012
SUBJECT: ROPS SUBMITTAL — JANUARY THROUGH JUNE 2013
SUMMARY
On July 18, 2012 the Board approved the ROPS for the period of January through June
2013 in order to ensure the due date of September 1, 2012 is met. On August 1, 2012
the DOF released a new template for the ROPS which requires additional data and
information that allows for a reconciliation of prior ROPS periods to determine,exactly
how much tax increment is required to meet the enforceable obligations. All of the
enforceable obligations contained in the ROPS that was approved on July 18 remain
the same; however, there are three additional worksheets in addition to the ROPS.
The new ROPS document now includes a summary page, a notes page and a
reconciliation page. The summary page provides a total of all outstanding obligations, a
summary of current obligations and a reconciliation summary of the prior period of
January through June 2012. The second new worksheet is a notes page. The notes
page is provided so that the Successor Agency can provide detailed comments to the
DOF in regards to specific items listed on the ROPS. The last new page is a
reconciliation of the previous six month period of January through June 2012. Printed
copies of the entire new ROPS document have been included with this report for
approval by the Board.
Staff Recommendation:
That the Oversight Board approve Resolution 2012 -0009 approving the ROPS for the
period of January through June 2013.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process in
accordance with the Brown Act.
Prepared by:
fti all-
Matthew E. Hawkesworth
Assistant City Manager
Attachments: Resolution 2012 -0009
ITEM NOe vW- _