ROPS 13-14B NotesItem #Notes/Comments
4
The prior period adjustments shows a charge of $5,200 for Continuing Disclosure. Due to the timing of the invoice for the work this was paid during this ROPS period
and can be absorbed in our overall Administrative Cost Allowance. See item 32 to reconcile this.
26
For the prior period adjustments, the City has charged additional administrative costs for salaries and other costs up to the the total allowable amount of Successor
Agency Administrative Allowance to account for the non-charges of some contracts during the ROPS 12-13B period.
29
The Successor Agency submitted Resolution 2013-0005 to the Department of Finance for review of the Master Agreement for Excess Bond Proceeds. The DOF
submitted a determination letter stating that the Agreement could be placed on the ROPS 13-14B. Once item 29 is approved by the DOF on the ROPS, the ROPS
items 12, 13, 14, 15, 16, 17, 18, 20 and 21 will be retired and 29 will replace all of these.
30
Per Section 34173(h) of the Health and Safety Code and the DOF letter dated 8/9/2013, the Successor Agency and City entered into a short-term loan agreement for
project-related costs associated with bond proceeds funded capital improvement projects.
29 & 30
The total bond proceeds currently stands at $7,077,558.51. The total combined expenditures of items 29 and 30 will not exceed the total bond proceeds, but due to the
timing of the ROPS submittal and approval process, it's unkown at the time of submission how much will fall under each item individually.
31
For the ROPS 13-14A the Successor Agency was approved for $147,795 in Administrative Cost Allowance, but was only funded $24,824.42 due to a shortfall in
RPTTF. The Ciity of Rosemead needs to be reimbursed for these incurred costs during the ROPS period.
32
Due to timing and billing of items 4, 5, 7, 10, 11 and 19, payments were made differently than what was originally included on the ROPS III. Under the H&S Code, the
Successor Agency is entitled to the minimum administrative cost allowance of $250,000 and as such has incurred additional charges under item 4 and 26 which equal
the reduced charges from items 5, 7, 10, 11 and 19. The total Administrative Allowance Costs charged has not exceeded the $250,000 approved amount; however,
the new worksheet does not account for these net changes and now incorrectly shows that the Successor Agency owes back $13,176 from Administrative Costs.
Recognized Obligation Payment Schedule 13-14B - Notes
January 1, 2014 through June 30, 2014