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I <br />REQUEST FOR APPROPRIATION ADJUSTMENT <br />Appropriation Adjustment No: 7 - J3 <br />Date: April 20, 2004 <br />Department: Community Development Agency <br />TYPE OF ADJUSTMENT <br />Transfer of Funds (No Council Action Required) <br />Transfer of Funds (Council Action Required) <br />Page 1 of 1 <br />Council Action 19 <br />I <br />Approved: = Yes No <br />Clerk of the Council <br />From: VARIOUS To: VARIOUS <br />Fund - Activity - Account Amount Fund - Activity - Account Amount <br />504- 508 - 6782 -1 $ 1,791,380 <br />504 - 508 - 6782 -2 <br />540 -01- 5990 -504 <br />39,190 <br />$ 1,830,570 <br />$ 1,830,570 <br />504 - 935 - 6800 -540 <br />540 - 935 -6935 <br />$ 1,830;570 <br />$ 1,830,570 <br />JUSTIFICATION FOR REQUEST: Transfer offundsfrom the South HarborLowandModerate <br />Housing Fund (Fund 504) into the South Flarbor Redevelopment Project Area (Fund 540) to pay the County of <br />Orange for the Educational Revenue Augmentation Fund (ERAF) as required by legislation implementing the <br />CA State Budget for FY2003 -2004. The state legislation requiring the ERAF allow for the Agency to borrow <br />from the Low and Moderate Housing Fund for up to 10 years. <br />Department Head -91- V <br />t1l WED AS T����O�7 FUNDS AND AC OUNTS: APPROVED: <br />City Manager Date <br />PREPARATION: <br />Submit original and two copies to Director of Finance, who will assign control number and forward the three <br />copies to the City Manager, City Manager will distribute copies showing designated action: ORIGINAL - <br />Finance; DUPLICATE - department file; TRIPLICATE - City Manager. Prepare a fourth copy for the Clerk of <br />the Council's file on requests that need Council action. <br />13 CS -886 <br />