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Resolution Number SJCHA 15-06-15-01 RESOLUTION NO. SJCHA 15-06-15-01 A RESOLUTION OF THE SSAN JUAN CAPISTRANO HOUSING AUTHORITY, AMENDING THE FISCAL YEAR 2015-2016 ADOPTED BUDGET AND AUTHORIZING EXPENSES AND APPROPRIATIONS RELATED THERETO WHEREAS, on June 23, 2014, the Commission of the San Juan Capistrano Housing Authority adopted Resolution 14-06-23-01, adopting the Fiscal Years 2014- 2015 and 2015-2016 Adopted Budget; and, WHEREAS, information not available at the time of the budget adoption requires a mid-term adjustment to the Fiscal Year 2015-2016 Adopted Budget in order to deliver the services expected by the Board of Directors; and, WHEREAS, the Board of Directors has been presented with and has accepted and approved the Fiscal Year 2015-2016 Amended Budget. NOW, THEREFORE, BE IT RESOLVED, that the San Juan Capistrano Housing Authority does hereby adopt the Fiscal Year 2015-2016 Amended Budget (Exhibit A) as detailed in the attached schedule. PASSED, APPROVED, AND ADOPTED this 15"day of June 2015. L✓ A $T Ila4orks, Secreta STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO ) I, MARIA MORRIS, appointed Housing Authority Secretary of the San Juan Capistrano Housing Authority of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No. SJCHA 15-06-15-01 was duly adopted by the Commissioners of the San Juan Capistrano Housing Authority at a regular meeting thereof, held he 15`" day of June 2015, by the following vote: AYE . OMMISSIONERS:Allevato, Reeve, Perry, Patterson and Chair Ferguson NOES OMMISSIONERS:None ABSE T: OMMISSIONERS:None MARIA R S, ousin thori Secretary San Juan Capistrano Housing Authority HOUSING AUTHORITY ADMINISTRATION FUND FY 2015/16-MID-TERM BUDGET UPDATE Third Quarter Amended Revised Adopted (Proposed) Adopted (Proposed) Description 2014/15 2014/15 2015/15 Adjustments 2015/16 PROJECTED REVENUE AND OTHER SOURCES Rental income 5 48,000 $ 48,000 S 39,900 5 (9,400) $ 30,500 Investment interest 2,000 2,000 2,000 2,000 interest from outstanding loans receivable 156,000 156,000 155,000 - 155,000 Transfer Ram Little Hollywood Rental Administration Fund 5,975 18,250 Miscellaneous revenue 50 - - TOTAL- PROJECTED REVENUES AND OTHER SOURCES $ 211,975 $ 224,300 $ 196,900 $ (9,400) $ 187,500 ESTIMATED EXPENDITURES AND OTHER USES Board Stipends $ 3,000 $ 3,000 $ 3,000 $ $ 3,000 Legal Notices 150 150 - 150 150 Legal Services 2,500 2,500 2,650 (150) 2,500 Financial Services 11600 1,600 11600 - 1,600 Management Services 30,020 30,020 30,020 (14,020) 16,000 Outside Contract Services - 30,000 - 50,000 501 Miscellaneous 100 100 100 - 100 Housing Administrative Charges 31,240 31,240 31,665 (11,720) 19,945 The Groves Administrative Charges 17,725 17,965 (17,965) - Rental5ubsidy Program 125,640 125,640 104,830 (25,750) 79,080 TOTAL-ESTIMATED EXPENDITU RES A No OTHER USES $ 211,975 S 224,250 $ 191,830 $ (19,455) $ 172,375 101I hill7f CONTRIBUTIONS FROM(TO)RESERVES Transfer$from(to)reserves Contingency Reserve $ - $ (112,125) $ $ 25,937 CHANGE IN AVAILABLE FUND BALANCE $ - $ (112,0751 $ 5,020 $ 41,062 AVAILABLE FUND BALANCE,JULY 1 282,892 411,550 282,892 299,475 AVARSiUBLE FUND BALANCE JUNE 30 S 282,892 $ 299,475 S 287,962 $ 340.537 FUND BAIANCE,JUNE 30 $ 10,743,655 $ 10,696,531 $ 10,572,893 S 10,711,656 RESERVES Noncurrent Receivables 5,178,730 5,100,502 5,100,502 5,100,502 Investment in Capital Assets 5,282,033 5,184,429 5,184,429 5,184,429 Cantingencles(target 25%-50%) 112,125 86,188 Contingency and Available Fund Balance as a V.of Non-Capital Expenditures 133.5% 183.5% 150.1% 247.651. EXHIBIT A- Pagel of 3 San Juan Capistrano Housing Authority LITTLE HOLLYWOOD RENTAL HOUSING FUND FY 2015/16-MID-TERM BUDGET UPDATE Third Quarter Amended Revised Adopted (Proposed) Adopted (Proposed) Description 2014/15 2014/15 2015/16 Adjustments 2015/16 PROJECTED REVENUE AND OTHER SOURCES Rental income $ 213,000 $ 213,000 $ 224,000 $ (16,000) $ 208,000 Miscellaneous revenue - 425 - - - TOTAL- PROJECTED REVENUES AND OTHER SOURCES $ 213,000 $ 213,425 $ 224,000 $ (16,000) $ 208,000 ESTIMATED EXPENDITURES AND OTHER USES Grounds and Building Maintenance $ 26,800 $ 26,800 $ 22,800 $ 2,000 $ 24,800 Building Improvements 16,000 16,000 16,000 (500) 15,500 Housing Administrative Charges 9,330 9,330 9,460 (4,465) 4,995 Management Services 98,995 98,995 98,995 - 98,995 Electricity 600 600 600 - 600 Gas 100 100 100 - 100 Water 3,000 3,000 3,000 - 3,000 Transfer to Housing Authority Administration Fund 5,975 18,250 - - TOTAL-ESTIMATED EXPENDITURES AND OTHER USES $ 160,800 $ 173,075 $ 150,955 $ (2,965) $ 147,990 rr r r r, r .rr r CONTRIBUTIONS FROM(TO)RESERVES Transfers from(to)reserves Contingency Reserve $ - $ (77,413) 5 - $ 3,418 CHANGE IN AVAILABLE FUND BALANCE $ 52,200 $ (37,063) $ 73,045 $ 63,428 AVAILABLE FUND BALANCE,JULY 1 469,500 491,568 521,700 454,505 AVAILABLE FUND BALANCE,JUNE 30 $ 521,700 $ 454,505 $ 594,745 517,933 FUND BALANCE,JUNE 30 $ 521,700 $ 531,918 $ 594,745 $ 591,928 RESERVES Contingencies(target 25%-50%) $ - 5 77,413 $ - $ 73,995 AVAUABLE FUND BALANCE,JUNE 30 $ 521,700 $ 454,505 $ 594,745 $ 517,933 Contingency and Available Fund Balance as a%of Non- Capital Expenditures 337.0% 343.6% 394.0% 400.0% EXHIBIT A- Page 2 of 3 San Juan Capistrano Housing Authority SUCCESSOR AGENCY HOUSING BONDS FUND FY 2015/16 J -MID-TERM BUDGET UPDATE Third Quarter Amended Revised Adopted (Proposed) Adopted (Proposed) Description 2014/15 2014/15 2015/16 Adjustments 2015/16 PROJECTED REVENUE AND OTHER SOURCES N Other reimbursements $ - $ 5,200,000 $ - $ - $ - Investment interest - 4,800 - 5,000 51000 TOTAL,.. PROJECTED REVENUES.AND OTHER SOURCES,,. - $ - $ 5,000 ESTIMATED EXPENDITURES AND OTHER USES Housing capital project administration $ - $ 14,680 $ - $ 10,700 $ 10,700 The Groves _ ryy� - 100,000 - - - TOTAL"`dESTI 14�EQ�i XPEN4��tJ�iES�9ND�CaTkIER� SES =" �� �j X14,680. ,$ � , � � T �0,70Q..:� 10_,7# CURRENT YEAR REVENUE OVER • 51090,120 00 0 CONTRIBUTIONS FROM(TO)RESERVES Transfers from(to)reserves $ - (5,090,120) $ - 5,700 !CF[�JVGE11f1a AVAILABLE FUND BALANC $ $ S bACfAI.IABLE�F �IDx�gLv�4NCE;,J,C1L1f Z AVAILABLE-FUND :A RESTRICTED FOR HOUSING CAPITAL PROJECTS $ $ 5,090,120 $ - $ 5,084,420 EXHIBIT A- Page 3 of 3