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Agenda Item 24.

City Council Meeting

Meeting Date:	10/02/2018
FROM:	Bill Gallardo

Subject:

Budget Adjustments to the Successor Agency to the Brea Redevelopment Agency Operating Program Budget for Fiscal Year 2017-18

RECOMMENDATION

City Council, as Successor Agency: Adopt resolution to adjust the FY 2017-18 Successor Agency to the Brea Redevelopment Agency Operating Budget.

BACKGROUND/DISCUSSION

Budget adjustments are presented to the City Council periodically for review. These adjustments represent the appropriation of items previously approved by the City Council during the current fiscal year, or staff recommended budget adjustments for City Council consideration. The recommended adjustments to the Successor Agency to Brea Redevelopment Agency Operating Budget are listed in Exhibit A. These adjustments are separated by funding source and the accounts are identified as either revenue or expenditure accounts.

COMMISSION/COMMITTEE RECOMMENDATION

The attached FY 2017-18 budget adjustments were reviewed by the Finance Committee on September 25, 2018, and recommended for City Council approval.

FISCAL IMPACT/SUMMARY

The fiscal impact of Exhibit A to the Successor Agency to the Brea Redevelopment Agency FY 2017-18 Budget is a net increase in expenditures of $1,734,000.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: Cindy Russell, Administrative Services Director

Attachments
Resolution - Successor Agency