Title
Adopt a Resolution approving the Fiscal Year 2020-21 Budget for the Successor Agency to the Redevelopment Agency of the County of Monterey.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a Resolution approving the Fiscal Year 2020-21 Budget for the Successor Agency to the Redevelopment Agency of the County of Monterey.
SUMMARY/DISCUSSION:
The County Administrative Office recommends that the Board of Supervisors approve and adopt the Fiscal Year (FY) 2020-19 Budget for the Successor Agency to the Redevelopment Agency of the County of Monterey (Successor Agency). This budget is unchanged from the FY 2020-21 Recommended Budget as presented and received by the Board during Budget Hearings on June 1-2, 2020. The FY 2020-21 Budget for the Successor Agency includes $2,116,000 in total appropriations, offset by estimated revenue of $2,521,503, and an increase of $405,503 in unreserved fund balance.
OTHER AGENCY INVOLVEMENT:
The County Administrative Office prepared the Successor Agency FY 2020-21 Adopted Budget resolution reflecting Board approval of the FY 2020-21 Recommended Budget as presented on June 1-2, 2020.
FINANCING:
The Successor Agency FY 2020-21 Adopted Budget Resolution reflecting Board approval by reference of the FY 2020-21 Recommended Budget as presented on June 1-2, 2020 represents a balanced budget and meets all requirements for adoption.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The recommendation to approve the Successor Agency FY 2020-21 budget is consistent with the Board of Supervisors’ Strategic Initiative for Administration. The Successor Agency represents a balanced budget that sustains core services and efficiently allocates resources.
__Economic Development
_X_Administration
__Health & Human Services
__Infrastructure
__Public Safety
Prepared by: Ezequiel Vega, County Budget Director, ext. 3078
Approved by: Dewayne Woods, Assistant County Administrative Officer, ext. 5309
Attachments: Successor Agency to the Redevelopment Agency of the County of Monterey FY 2020-21 Adopted Budget Resolution