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RDA SUCCESSOR AGENCY FY 2012-13 was a busy year for the City's former RDA, completing several important steps in the dissolution process and ultimately ending the fiscal year by receiving a 'Find a Completion' from the State Department of Finance (DOF). At the time of this writing, the State Controller's Office is conducting an onsite Asset Transfer Review pursuant to Health and Safety Code section 34167.5; to determine whether any asset transfers occurred after January 1, 2011, between the City, or any other public agency, and the redevelopment agency. During this past year, the Successor Agency has successfully completed the following: • Received a clean opinion for the Agreed Upon Procedures Audit, conducted by the County of Fresno and required by State statute, to ensure that Successor Agencies followed proper dissolution procedures. • Submittal and approval of the Housing Asset Transfer Form, which included a full review of remaining assets of the former Low to Moderate Income Housing function of the RDA. • Obtained State approval of two Recognized Obligation Payment Schedules for the January to June, 2013, and July to December 2013 periods,; thus allowing the Successor Agency to pay for ongoing operating costs, debt service, and dissolution activities. • Completed two Due Diligence Review (DDR) processes, including extensive Meet & Confer sessions with DOF officials, to determine the unobligated cash balances available to transfer to taxing entities. In total, the Successor Agency returned $1,123,546 to taxing entities through the DDR process, comprised of $328,240 from the Low to Moderate Income Housing fund, and $795,306 from other funds of the former RDA. The $795,306 was derived specifically from ‣ $353,052 from the General Fund Reserve to refinance the remaining balance on the Airport Loan note that was held by the Successor Agency. ‣ $125,000 from the return of a 5-Year RDA grant from the Streetscape Committee originally intended for improvements to the Downtown. ‣ $317,254 from existing cash balances of the Successor Agency. • Applied for and received the Finding of Completion from DOF, essentially closing out the review of the former RDA's activities, obligations, and assets/liabilities. Goals for FY 2013-14 • Complete the required Long-Range Property Management Plan to DOF, including beginning the necessary steps to transfer remaining properties our of the former RDA. • Obtain approval to utilize remaining RDA bond proceeds of approximately $5.4 million for the projects in which they were issued. • Submit the Recognized Obligation Payment Schedule for the January to June 2014 period. Page 152 CITY OF REEDLEY ADOPTED BUDGET 2013-2014
Background On February 1, 2012, all redevelopment agencies in California were dissolved and the process for unwinding their financial affairs began. The City of Reedley Redevelopment Agency had an active redevelopment and economic development operation, and an active affordable housing operation. When the Agency was suspended, the City of Reedley elected to assume the Agency’s redevelopment and economic development obligations as the “Successor Agency”, and the lowmoderate housing activities to be governed by the newly created Housing Authority. Given the scope of the agencies’ funds, assets, and financial obligations, the unwinding process will take some time. Prior to dissolution, redevelopment agencies received tax increment in property tax revenues annually and had outstanding bonds, contracts, and loans. Over time, as these obligations are paid off, schools and other local agencies will receive the property tax revenues formally distributed to RDAs. Funds 086 through 097 reflected the active financial information for the Reedley Redevelopment Agency. On February 1, 2012 all assets and liabilities were transferred to the successor agency, City of Reedley, under the fund structure of 895, 896 and 897. Fund 895 accounts for bond proceeds from the February 2011 Tax Allocation Bond Issue in the amount of $8,825,000 uninsured with an A- rating. This issue defeased existing bonds and provided for unused bond proceeds of approximately $5 million to be used for capital projects. Fund 896 accounts for all of the successor housing activities and Fund 897 is the retirement fund which handles the eventual close out of operations for all non-housing redevelopment activities. City staff have worked diligently to meet a multitude of deadlines set by the State Controller's Office, Department of Finance, and the County of Fresno.. California Health & Safety Code Section 34180 defines the successor agency actions to be reviewed and approved by an Oversight Board. Oversight Board Members and agencies they represent are: Lawrence Wilder, Chairperson County of Fresno Representative Valerie Pieroni County of Fresno Representative Andrew T. Souza, Vice Chairperson State Center Community College District Representative Rick Martin County Superintendant of Schools Representative Steve Mulligan Special District Representative (Consolidated Mosquito Abatement District) Paul A. Melikian, Secretary Successor Agency Representative Kevin Fabino Successor Agency Representative Page 153 CITY OF REEDLEY ADOPTED BUDGET 2013-2014
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City of Reedley Adopted Budget Fisc
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ADOPTED BUDGET FISCAL YEAR 2013-201
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Page 1 CITY OF REEDLEY ADOPTED BUDG
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assumes a 1.50% target growth rate
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City of Reedley Council Districts L
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BUDGET SUMMARIES The Budget Summari
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2013-14 ADOPTED BUDGET SUMMARY BY F
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2012-13 FISCAL YEAR-END EXPENSE EST
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CITY FUND BALANCES ACTUAL ESTIMATED
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GENERAL FUND SUMMARY OF EXPENDITURE
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GENERAL FUND SUMMARY - EFFECT ON CA
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$1,600,000 HISTORICAL SALES TAX REV
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FY 2013-14 GENERAL FUND REVENUE SOU
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FY 2013-14 GENERAL FUND PERSONNEL C
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HISTORICAL GENERAL FUND RESERVES FU
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PROPERTY TAX City of Reedley - Non
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REVENUE DETAIL BY FUND 2012-13 2012
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The City Manager’s Office will co
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• Successfully managed the requir
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Department Challenges/Unmet Needs T
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one (1) twenty (20) hour per week c
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The Chamber of Commerce plays a lar
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COMMUNITY SERVICES DEPARTMENT The C
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• Secure two mobile vendors to lo
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ENGINEERING DEPARTMENT The Engineer
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Department goals • Complete and c
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Page 125 and 126: ADOPTED BUDGET FISCAL YEAR 2013-201
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Page 155: ADOPTED BUDGET FISCAL YEAR 2013-201
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Page 161 and 162: FIVE YEAR CAPITAL IMPROVEMENT PLAN
Page 163 and 164: City of Reedley Five Year Capital I
Page 173 and 174: POSITION & BENEFIT DETAIL The City
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CITY OF REEDLEY MASTER SALARY TABLE
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The City’s financial system utili
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STREET PROJECTS FUND 007 Street Pro
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STREETSCAPE FUND 036 Fund 036 is th
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