CC - Item 4B - Adoption of The 2013-14 Rosemead Housing Corporation Fiscal Year BudgetROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
TO: THE HONORABLE PRESIDENT AND BOARD MEMBERS
FROM: JEFF ALLRED, CITY MANAGER
DATE: JUNE 25. 2013
SUBJECT: ADOPTION OF THE 2013 -14 ROSEMEAD HOUSING CORPORATION
FISCAL YEAR BUDGET
SUMMARY
The Rosemead Housing Corporation will consider the adoption of the Rosemead Housing
Corporation's Budget for the 2013 -14 Fiscal Year, which provides for a total appropriation
of $771,000.
A five -year financial outlook workshop with the City Council was held on May 14, 2013
and a 2013 -14 budget workshop was held on May 28, 2013. The Council approved the
total City budget of $35,967,800 on June 11, 2013.
Staff Recommendation
Staff recommends that the Housing Corporation adopt Resolution No. 2013 -05 approving
the Annual Operating and Capital Improvement Program Budget for the 2013 -2014 Fiscal
Year.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Prepared by:
MATTHEW E. HAWKESWORTH
ASSISTANT CITY MANAGER /FINANCE DIRECTOR
Attachment A — Resolution No. 2013 -05
ITEM NUMBER:
RESOLUTION NO. 2013 -05
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
ADOPTING THE ANNUAL OPERATING AND CAPITAL IMPROVEMENT BUDGET
FOR THE 2013 -14 FISCAL YEAR
WHEREAS, a proposed annual budget for the Rosemead Housing Development
Corporation for the Fiscal Year commencing July 1, 2013 and ending June 30, 2014 was
submitted to the Housing Development Corporation Board of Directors for its review and
consideration and the proposed annual budget is on file in the Corporation Secretary's office,
and
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE ROSEMEAD
HOUSING DEVELOPMENT CORPORATION DOES RESOLVE AS FOLLOWS:
1. The 2013 -14 Annual Operating and Capital Improvement Program Budget is hereby
adopted in the amount of $771,000.
2. There is hereby appropriated to each account group set forth in the "Detail Budget"
of said budget attached hereto, and made a part hereof as though fully set forth
herein, the sum shown for such account groups in the 2013 -14 Requested Column.
3. The President shall sign and the Corporation Secretary 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 25 day of June, 2013.
Polly Low, President
ATTEST:
Gloria Molleda
Corporate Secretary
APPROVED AS TO FORM:
Rachel Richman
City Attorney