HDC - Item2B - Adoption Of The Rosemead Housing Development Corporation 2007-08 Budget0
ROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
TO: HONORABLE PRESIDENT AND DIRECTORS
FROM: ANDREW C. LAZZARETTO, EXECUTIVE DIRECT
. 4
DATE: JUNE 12, 2007
SUBJECT: ADOPTION OF THE ROSEMEAD HOUSING DEVELOPMENT
CORPORATION 2007-08 BUDGET
SUMMARY
City Staff prepared the 2007-08 Annual Budget for the Rosemead Housing
Development Corporation. The document presents actual revenues and expenditures
for fiscal year 2005-06, projected revenues and expenditures for fiscal year 2006-07
and estimated revenues and requested appropriations for fiscal year 2007-08.
Staff Recommendation
Staff recommends that the City Council adopt Resolution No. 2007-10 approving the
fiscal 2007-08 Annual Budget for the Rosemead Housing Development Corporation.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Lisa Pedote
Director of Finance
APPROVED FOR HOUSING DEVELOPMENT CORPORATION AGENDA:
RESOLUTION NO. 2007-1
A RESOLUTION OF THE HOUSING DEVELOPMENT CORPORATION
OF THE CITY OF ROSEMEAD ADOPTING THE ANNUAL BUDGET FOR FISCAL
YEAR 2007-08 AND MAKING APPROPRIATIONS FOR THE AMOUNT BUDGETED
WHEREAS, an Annual Budget for the Housing Development Corporation for the
fiscal year commencing July 1, 2007 and ending June 30, 2008 was submitted to the
Agency members and is on file in the City Clerk's office.
NOW, THEREFORE, THE HOUSING DEVELOPMENT CORPORATION
MEMBERS 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, 2007 and ending June 30,
2008.
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 12th day of June, 2007.
Executive Director of the Housing
Development Corporation
ATTEST:
Agency Secretary