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Request for HRA Action <br />Director Approval: <br />� . <br />Description: 2010 RHRA Budget (HF0086) <br />Requested Action: <br />Date: 08-31-09 <br />Item No: 10.b. <br />Agenda Section: <br />Action <br />The RHRA should adopt a proposed 20101evy to propose to the Roseville City Council for their <br />consideration on September 14tn <br />Budget Process: <br />Per State Statute 469.033, subdivision 6, the HRA must each year formulate and file a budget in <br />accordance with the budget procedure of the City in the same manner as required of executive <br />departments of the City. <br />To request an HRA levy, the RHRA must adopt a resolution and budget and present it to the City <br />Council in August. Assuming approval, it will then be included within the City budget and levy <br />request that is submitted to the County in September. The City Council holds hearings on all <br />elements of the budget including any proposed HRA levy with eventual adoption of RHRA <br />budget in December 2009. <br />2010 RHRA Budget Details <br />As part of the preparing the 2010 RHRA budget, staff has used the input from the board from the <br />work session that was held on July 8, 2009 and the regular meeting of July 27, 2009. In addition <br />staff inet with the subgroup finance committee on July 30, 2009. <br />According to Chris Miller, City Finance Director, the maximum levy that the RHRA can impose <br />in 2010 is $795,315. Staff is proposing to levy $353,500 in 2010 or approximately 44% of the <br />possible levy. <br />The draft 2010 budget shows a reduced carryover amount from the 2009 budget. Staff expects <br />that most of the dollars allocated will be spent or earmarked. In the past this has not occurred <br />and has led to difficulties in trying to get a firm handle on how much money the RHRA had <br />available. It appears that often carryover funds were allocated to new or different programs even <br />though they had been previously committed to another program. (i.e. SHRP). <br />As part of the 2010 budget request, we are assuming that Har Mar Apartments will close on their <br />loan request from our Levy funds of $100,000 by the end of 2009. <br />RHRA 2010 Budget Discussion - Page 1 of 4 <br />