I. RECOMMENDATION:
City Manager and Financial Services Director recommend Board of Directors of the Successor Agency of the Former Redevelopment Agency of the City of Coalinga adopt Resolution No. SA-342 for the adoption of final budget spending plan for Fiscal Year 2022-2023, providing for the appropriation and expenditure of all sums set forth in said final budget, and provide for the transfers and additional appropriations.
II. BACKGROUND:
The Board of Directors (Board) of the Successor Agency and staff have been deliberating on an appropriation and budget plan for FY 2022-2023. Resolution No. SA-342 formally adopts the Board’s appropriation and budget plan for FY 2022-2023.
III. DISCUSSION:
City Council has discussed the budget plan for FY 2022-2023 at various meetings.
IV. ALTERNATIVES:
Board could decide to postpone adopting a final budget plan for FY 2022-2023.
V. FISCAL IMPACT:
Adoption of FY2022-2023 final budget by Board of the Successor Agency is necessary as required per State of California's mandate effective February 1, 2012 for dissolution of the Former Redevelopment Agency of the City of Coalinga. |