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With the zero levy for 2016, the REDA will eventually need to take action to transfer funds from <br />30 <br />one of the REDA reserve accounts because the operating account does not have enough available <br />31 <br />funding to make it through the entire year as budgeted. However, there are available funds to <br />32 <br />make it through several months without any transfers and therefore it is proposed to resolve that <br />33 <br />issue in the future along with any other budget adjustments that may come out of the City <br />34 <br />Council discussion beginning on February 8. <br />35 <br />36 <br />PO <br />OLICYBJECTIVE <br />37 <br />This is a step in implementing the City Council’s policy direction to createan REDA <br />38 <br />BI <br />UDGET MPLICATIONS <br />39 <br />At this time, there are no budget impacts although future policy changes from the City Council <br />40 <br />could impact REDA and/or City budgets. <br />41 <br />SR <br />TAFF ECOMMENDATION <br />42 <br />This item is for informational purposes only. No actions are necessary. Staff will be available if <br />43 <br />there are any questions regarding the next steps outlined above. <br />44 <br />RREDABA <br />EQUESTED OARD CTION <br />45 <br />This item is for informational purposes only. No actions are necessary. <br />46 <br />47 <br />Prepared by:Paul Bilotta, Community Development Director <br />Attachments:None <br />Page 2of 2 <br />