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Request for HR.A. Action <br />Director Appro�c�al: <br />� %tc..�,e�,� <br />Date: 07-15-08 <br />Ifem No; $,c. <br />Agenda Section: <br />Ac�ion <br />Description: 2009 RHRA Bndget (HF0069} <br />1.0 Rec�uested Actiou: <br />1.1 The RHR.A shauld review the budget prepared by staff and re�iewed by the RHRA <br />Finance sub-coznznittee and make a recarnmendation the City Counci� regarding the 2009 <br />budget and RHRA levy. <br />2.0 Budget Process: <br />2.1 Per State Statute 469.033, subdivisian. 6, the HRA musi each year formulate and file a <br />budget in accordance with the budget procedure of the City zn the same maau�er as <br />required of executive departments of the City. <br />? 2 To request an HRA Ievy, ihe RHRA must adapt a resalution and budget and present it to <br />t�e City Councii in Au�ust. Assuming approval, it wili then be included ��ithin the City <br />budget and Ievy request that is submitted to the County in Septeinber. T��e City Cou��cil <br />holds hearings on a�l elements of the budget including any proposed HRA levy with <br />eventual adoption of RHRA budget in December 2008. <br />3.0 20Q9 RHRA Bvdget Details <br />3.1 As part of the preparing tk�e 2009 RHRA budget, staff has used the input from the hoard <br />and the �inance sub-comnlittee. <br />3.2 Accarding to Chris MiIler, City Finance Director, the maximum Ievy that the RHRA can <br />impose in 2009 is $836,639.00. Staff is proposing to levy $393,a00 in 2009 or less than <br />50°/a of the possible levy. <br />3.3 The draft 2009 budget shows no carryover from the 2008 budget. Staff expects that most <br />of the doilars allocated will be spent or earmarked. In the past this has not occurred and <br />has led to difficuliies in trying ta get a firm handle on how much money the RHRA had <br />avai�able. It appears thai often carryover funds were allocated to new or different <br />programs even though they had been previous�y comnxitted to another prograin. {i.e. <br />SHRP). <br />3.4 As part of the 2009 budget request, we are assuming that Har Mar Apartnlents will have a <br />need to funds allocated in previous budgets (specafically tk�e �100,000 allocated in 2008}. <br />RHRA 2009 Budget Discussion - Page I of 3 <br />