HDC - Item 2 - Resolution No. 2003-08 Adopting 2003-04TO: HONORABLE PRESIDENT AND DIRECTORS
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
FROM: BILL CROXE, EXECUTIVE DIRECTOR
DATE: JUNE 16, 2003
RE: RESOLUTION NO. 2003 -08 ADOPTING 2003 -04 ROSEMEAD
HOUSING DEVELOPMENT CORPORATION BUDGET
Attached for your consideration is a copy of Resolution No. 2003 -08 adopting
the 2003 -04 Annual Budget.
RECOMMENDATION:
After any amendments, it would be appropriate for the Rosemead Housing
Development Corporation to adopt Resolution No. 2003 -04 Annual Budget.
HOUSING AGENDA
JUN 24 2003
ITEM No.
RESOLUTION NO. 2003 -08
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION OF
THE CITY OF ROSEMEAD ADOPTING.THE ANNUAL BUDGET FOR FISCAL YEAR
2003 -04 AND MAKING APPROPRIATIONS FOR THE AMOUNT BUDGETED
WHEREAS, an Annual Budget for the Rosemead Housing Development
Corporation for the fiscal year commencing July 1, 2003 and. ending June 30, 2004
was submitted to the Housing Development Directors and is on file in the City Clerk's
office.
Now, THEREFORE, THE HOUSING DEVELOPMENT DIRECTORS 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,
2003 and ending June 30, 2004.
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 24th day of June, 2003.
President, Rosemead Housing
Development Corporation
ATTEST:
Corporation Secretary
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
SUMMARY OF EXPENDITURES BY CATEGORY
TOTAL SPECIAL PROJECTS
$1,659,350 $724,240
HOUSING REHABILITATION (Cost Center 4280):
Residential Rehabilitation $
TOTAL HOUSING REHABILITATION $0 $0
RHDC FUND TOTAL $1,828,750 $959,740
2002 -03
2003 -04
Projected
Budget
ADMINISTRATIVE (Cost Center 4270)
Legal Fees
$6,000
$6,000
Auditing Fees ,
8,600
8,600
Department Supplies
0
300
Travel and Meeting Expenses
0
500
Membership /Subscription
0
500
City Services
154,800
219.600
TOTAL ADMINISTRATIVE
$169,400
$235,500
SPECIAL PROJECTS (Cost Center 4275):
Tree & Turf Maintenance
$0
$0
Home Threshold
0
144,000
First Time Home Buyers Program
40,000
100,000
Management Contract - Angelus
144,650
172,340
Special Insurance - Angelus
4,000
4,000
Lease Payment - Angelus
60,000
60,000
Project Management - Garvey
83,000
0
Architectural Services - Garvey
37,000
0
Management Contract Expenses
67,700
152,500
Material Testing
3,600
0
Technical Analysis
0
0
Utilities - Electric
56,000
0
Special Insurance
5,000
5,000
Lease Payment - .Garvey
50,400
86,400
Construction - Garvey Senior Housing
1,108,000
0
Property Acquisition
0
0
TOTAL SPECIAL PROJECTS
$1,659,350 $724,240
HOUSING REHABILITATION (Cost Center 4280):
Residential Rehabilitation $
TOTAL HOUSING REHABILITATION $0 $0
RHDC FUND TOTAL $1,828,750 $959,740