Agenda

Back to Calendar Return

Agenda Item 11.

City Council Meeting

Meeting Date:	06/20/2023
FROM:	Bill Gallardo

Subject:

Public Hearing to Consider the Adoption of the Successor Agency to the Brea Redevelopment Agency 2023-25 Biennial Operating Budget

RECOMMENDATION

City Council, as Successor Agency: Adopt Resolution No. SA 2023-01 appropriating funds for the Successor Agency to the Brea Redevelopment Agency 2023-25 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 Biennial Operating Budget for 2023-25 at the Budget Workshop held on June 6, 2023. 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 2023-25 budget document.

SUMMARY/FISCAL IMPACT

The fiscal impact for Fiscal Year 2023-25 is as follows:

Description	FY 2023-24	FY 2024-25
Administration	$72,245	$73,030
Long Term Obligations	13,624,388	13,171,342
Total	$13,696,633	$13,244,372

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Alicia Brenner, Budget Manager
Concurrence: Kristin Griffith, Director of Administrative Services

Attachments
Resolution