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Agenda Item 15.

City Council Meeting

Meeting Date:	06/18/2019
FROM:	Bill Gallardo

Subject:

Public Hearing to Consider the Adoption of the Successor Agency to the Brea Redevelopment Agency 2019-20 Operating Budget

RECOMMENDATION

City Council, as Successor Agency: Adopt the attached Resolution appropriating funds for the Successor Agency to the Brea Redevelopment Agency 2019-20 Proposed Operating Program Budget.

BACKGROUND/DISCUSSION

The City Council of the City of Brea, as Successor Agency to the Brea Redevelopment Agency, reviewed the Successor Agency’s Operating Budget for 2019-20 at the Budget Workshop held on May 21, 2019. The City Manager has provided an overview message and fund balances in the Proposed Budget document.

SUMMARY/FISCAL IMPACT

The fiscal impact for Fiscal Year 2019-20 is as follows:

Administration	$55,000
Senior Rental Subsidy Program	38,046
Long Term Obligations	16,468,166
Support Services	33,083
Other (Payment to County)	207,600
Total	$16,801,895

The City Council of the City of Brea, as Successor Agency to the Brea Redevelopment Agency, has reviewed the Proposed Budget at a City Council Study Session (Budget Workshop) held on May 21, 2019. The Successor Agency budget contains operating expenditures for administration, debt service, support services, payment to the County, and the senior rental subsidy program (July 2019 to December 2019). The budget also provides information on all revenues received by the Successor Agency. An overview of the Proposed Budget and detailed fund balances are contained within the Fiscal Year 2019-20 budget documents.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: David Crabtree, Community Development Director

Attachments
Resolution