Resolution Number SJCPFA 14-06-23-01RESOLUTION NO. SJCPFA 14-06-23-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO PUBLIC FINANCING AUTHORITY, ADOPTING THE
FISCAL YEARS 2014-2015 AND 2015-2016 BUDGET AND
AUTHORIZING EXPENSES AND APPROPRIATIONS RELATED
THERETO
WHEREAS, the Board of Directors of the San Juan Capistrano Public
Financing Authority held a Budget Workshop on June 23, 2014, to review the
recommendations for the Proposed Fiscal Years 2014-2015 and 2015-2016 Budget;
and,
WHEREAS, the Proposed Fiscal Years 2014-2015 and 2015-2016 Budget
reflects principal and interest payments due on outstanding debt and other related costs
deemed appropriate by the Board of Directors; and,
WHEREAS, the Board of Directors intends to use the Proposed Fiscal Years
2014-2015 and 2015-2016 Budget as a guide for allocating the Authority's resources;
and,
WHEREAS, the Board of Directors recognizes that the Proposed Fiscal Years
2014-2015 and 2015-2016 Budget may require adjustments from time to time, and
accordingly, the Executive Director is authorized to execute necessary transfers to carry
out the scope of service as approved.
NOW, THEREFORE, BE IT RESOLVED, that the San Juan Capistrano Public
Financing Authority Board of Directors does hereby adopt the Proposed Fiscal Years
2014-2015 and 2015-2016 Budget (Exhibit A) as detailed in the attached schedule and
as summarized below:
Year Ending June 30 Authorized Expenses
2015 $2,892,650
2016 $2,853,500
PASSED, APPROVED, AND ADOPTED this 23rd day of June 2014.
AM ALLEVATO, CHAIR
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARIA MORRIS, appointed Secretary of the San Juan Capistrano Public Financing
Authority of the City of San Juan Capistrano, do hereby certify that the foregoing
Resolution No. SJCPFA 14-06-23-01 was duly adopted by the Board of Directors of
the San Juan Capistrano Public Financing Authority at a special meeting thereof, held
the 23RIP ,day of June 2014 by the following vote:
AYES: RECTORS: Byrnes, Kramer, Reeve, Taylor and Chairman Allevato
NOE : ,RECTORS: None
ABSEN : ,RECTORS: None
San Juan Capistrano Public Financing Authority
DEBT SERVICE FUND
FY 2014/16
1
Percent
Percent
Actual
Amended
Proposed
Change From
Proposed
Change From
Description
2012/13
2013/14
2014/15
Prior Year
2015/16
Prior Year
PROJECTED REVENUE & OTHER SOURCES
Lease Revenue - City of SJC Water Enterprise
Series 2002 Certificates of Participation
$
563,338 $
654,506 $
664,935
1.59% $
664,460
-0.07%
Series 2004 Certificates of Participation
1,279,095
1,421,894
1,420,870
-0.07%
1,384,395
-2.57%
Series 2009 Certificates of Participation
793,741
792,544
795,845
0.42%
793,645
-0.28%
Interest Income:
Series 2002 Certificates of Participation
36,372
40,000
40,000
**
40,000
0.00%
Series 2004 Certificates of Participation
71,252
70,000
70,000
**
70,000
0.00%
**
Series 2009 Certificates of Participation
315
16,000
**
ESTIMATED REVENUE -TOTAL
2,744,113
6
ESTIMATED EXPENDITURES & OTHER USES
Certificates of Participation, Series 2002:
Principal
$
415,000
435,000
455,000
4.60%
475,000
4.40%
Interest
237,895
219,506
209,935
-4.36%
189,460
-9.75%
Administration
3,221
5,000
3,500
-30.00%
3,500
0.00%
Amortization of COI
10,774
10,774
-
Certificates of Participation, Series 2004:
Principal
550,000
570,000
590,000
3.51%
575,000
-2.54%
Interest
872,194
851,894
830,870
-2.47%
809,395
-2.58%
Administration
3,329
7,500
3,500
-53.33%
3,500
0.00%
**
Amortization of COI
18,137
5,156
-
**
Certificates of Participation, Series 2009:
Principal
275,000
285,000
300,000
5.26%
310,000
3.33%
Interest
518,744
507,544
495,845
-2.31%
483,645
-2.46%
Administration
3,867
5,000
4,000
-20.00%
4,000
0.00%
**
Amortization of COI
12,266
6,707
>
$
2,920,427 $
2,909,081 $
2;892,650
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CONTRIBUTIONS FROM (TO) RESERVES
2002 Bond Reserve
$
(17,984) $
$
$
2004 Bond Reserve
71,846
2009 Band Reserve
(310)
-
NET CHANGE IN AVAILABLE FUND BALANCE
$
(122,762) $
99 000
$
. , i'r 99,000
BEG) U
7.4,
x$3,7,35@ _t
w
936,356
� ►
r
FUND BALANCE, JUNE 30
$
(30,741,312) $
(30,655,449) $
(30,556,449)
$
(30,457,449)
Invested in Capital Assets, Net of Related Debt
(34,468,712)
(34,468,712)
(34,468,712)
(34,468,712)
RESERVES:
Series 2002 Bond Reserve
697,838
697,838
697,838
697,838
Series 2004 Bond Reserve
1,475,543
1,475,543
1,475,543
1,475,543
Series 2009 Bond Reserve
802,526
802,526
802,526
802,526
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