HomeMy WebLinkAbout2011 CC RESO 2011-46 CDCRESOLUTION NO. 2011 — 46
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY
APPROVING AND ADOPTING THE FY 2010-2011
MID -YEAR BUDGET CHANGES
WHEREAS, on June 22, 2010, the Community Development Commission of the
City of National City ("CDC") adopted Resolution No. 2010-147 adopting the budget for FY
2010-2011 that was modeled on the FY 2009-2010 budget with minor modifications; and
WHEREAS, as part of the mid -year review process, the Finance Department
reviewed the first six months for actual revenue and expenditures, and projected the last six
months of the fiscal year; and
WHEREAS, the mid -year budget review was presented to the CDC and
members of the public on February 5, 2011; and
WHEREAS, the General Fund is on target with the original budget and there are
no significant changes recommended; and
WHEREAS, the CDC's Executive Director has recommended approval of the
mid -year budget changes as summarized in the attached Exhibit "A".
NOW, THEREFORE, BE IT RESOLVED that the Community Development
Commission of the City of National City hereby approves and adopts the FY 2010-2011 mid-
year budget changes, attached hereto as Exhibit "A".
PASSED and ADOPTED this 15th day of February, 7Q11.
ATTEST.
Brad R-atrt'ston, Secretary
laudia G.
PROVED AS TO FORM:
' 04 .. LA ,Li.?:. .
n Morrison, Chairman
FY 2010-2011 MID -YEAR BUDGET CHANGES
Adopted Adjusted Adjustment
Account Account Title Budget Budget Amount
Description
302-00000-3999
Transfer -in from Tax Increment Fund 0 125,567 125,567 To pay For prior year CDC reimbursements
502-445-462-435-0000 Housing Asst Payments
8,220,000 0 (8,220,000) To correct appropriation
502-445-462-602-0000 Housing Asst Payments 0 8,220,000 8,220,000 To correct appropriation
506-412-269-470-0000 Principal -HUD 108 Loan
511-409-000-099-0000 Transfer out to CDC Payment Fund
225,000 245,000 20,000 Based on debt service schedule
To pay for prior year CDC costs & close out
666,667 792,234 125,567 fund 302
Exhibit A
Passed and adopted by the Community Development Commission of the City of
National City, California, on February 15, 2011, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Rios, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secretary, Co gip„' -lopment Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2011-46 of the Community Development Commission of the City of
National City, California, passed and adopted on February 15, 2011.
Secretary, Community Development Commission
By:
Deputy