Agenda

Back to Calendar Return

Agenda Item 17.

City Council Meeting

Meeting Date:	06/16/2020
FROM:	Bill Gallardo

Subject:

Public Hearing to Consider the Adoption of the Successor Agency to the Brea Redevelopment Agency 2020-21 Operating Budget

RECOMMENDATION

City Council, as Successor Agency: Adopt the attached Resolution appropriating funds for the Successor Agency to the Brea Redevelopment Agency 2020-21 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 2020-21 at the Budget Workshop held on June 2, 2020. 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 2020-21 is as follows:

Administration	$45.000
Senior Rental Subsidy Program	0
Long Term Obligations	16,750,747
Support Services	35,896
Other (Payment to County)	0
Total	$16,831,643

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 June 2, 2020. The Successor Agency budget contains operating expenditures for administration, debt service, support services, and payments to the County, as needed. The budget document includes projected revenues to be received by the Successor Agency. An overview of the Proposed Budget and detailed fund balances are contained within the Fiscal Year 2020-21 budget documents.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Alicia Brenner, Sr. Fiscal Analyst
Concurrence: Cindy Russell, Administrative Services Director