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ROPS 14 -15A & <br />ADMINISTRATIVE BUDGET <br />March 4, 2014 <br />Page 2 <br />This is the sixth ROPS prepared by the Successor Agency, and is presented in the format <br />designed by the DOF. This ROPS 14 -15A was reviewed and approved by the Oversight Board <br />in a special meeting. <br />Following action by the Oversight Board, the ROPS was forwarded to the DOF, County, and <br />other appropriate entities as required by AB 1484 by the March 3, 2014 deadline. The City <br />Manager and /or Director of Finance need the ability to make modifications, additions or revisions <br />to the ROPS in order to comply with direction received by the Oversight Board or DOF. <br />In previous BOPS submittals, the DOF has objected to certain enforceable obligations, which <br />subsequently led to Meet and Confer meetings where the Successor Agency was able to provide <br />information that caused the reversal of most objections. The five project area Settlement <br />Agreements remain in dispute and amounts are requested on the ROPS 14 -15A until the final <br />outcome of the various lawsuits has been determined by the courts. <br />FISCAL IMPACT <br />The Successor Agency is limited to making only payments listed on the approved ROPS for each <br />six month period and the administrative expenditures of the Successor Agency are limited to <br />items listed in the approved Administrative Budget for each six month period. Administrative <br />expenses are capped by law at the greater of three percent of the property tax funds distributed <br />for the ROPS, or $250,000 per year. Thus far, Santa Ana's Successor Agency has received the <br />greater amount of three percent based on the approved property tax funds. <br />Scott Kutner <br />District Manager <br />Community Development Agency <br />SK/SG /kg <br />Exhibits: 1. ROPS & Administrative Budget <br />Francisco Gutierrez <br />Executive Director <br />Finance and Management Services Agency j <br />3 -2 <br />