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  Agenda Item   18.    
City Council Meeting
Meeting Date: 06/15/2021  
FROM: Bill Gallardo

Subject:
Public Hearing to Consider the Adoption of the Successor Agency to the Brea Redevelopment Agency 2021-22 Operating Budget
RECOMMENDATION
City Council, as Successor Agency:  Adopt Resolution No. SA 2021-01 appropriating funds for the Successor Agency to the Brea Redevelopment Agency 2021-22 Proposed Operating Program Budget.
BACKGROUND/DISCUSSION
The City Council of the City of Brea, as Successor Agency to the Brea Redevelopment Agency, reviewed the Successor Agency’s Operating Budget for 2021-22 at the Budget Workshop held on May 18, 2021.  The City Manager has provided an overview message and fund balances in the Proposed Budget document.
SUMMARY/FISCAL IMPACT
The fiscal impact for Fiscal Year 2021-22 is as follows:

 
Administration         $80,896
Long Term Obligations 16,541,217
Total $16,622,113
      
The City Council of the City of Brea, as Successor Agency to the Brea Redevelopment Agency, has reviewed the Proposed Budget at a City Council Study Session (Budget Workshop) held on May 18, 2021.  The Successor Agency budget contains operating expenditures for administration and long term obligations.  The budget document includes projected revenues to be received by the Successor Agency.  An overview of the Proposed Budget and detailed fund balances are contained within the Fiscal Year 2021-22 budget document.
RESPECTFULLY SUBMITTED:
William Gallardo, City Manager
Prepared by:  Alicia Brenner, Sr. Fiscal Analyst
Concurrence: Cindy Russell, Administrative Services Director
Attachments
Resolution

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