Fiscal Year 2013-2015 Special Budget Meeting

Ms. Sarah Schlenk . , June 21, 2013 • Page 2 ROPS and has been expending funds from the prior approved amounts rather than relisting the unexpended balances to be reapproved on each ROPS. Finance notes that amounts requested and approved in a ROPS are effective only for the six-month period covered. Going fonward, to the extent the Agency has not fully expended funds approved and received^on a prior ROPS, the Agency should relist the unexpended amounts that need to be retained for those enforceable obligations on each subsequent ROPS with the funding source as "Reserves" or "Other" and :ah entry in the Notes section indicating the funds were received In a prior ROPS period. Additionally, the Agency provided a breakdown of staff costs incurred during the ROPS III period for each position by task for each project. The ROPS III staff costs totaled.$849,314 and the Agency estimates the ROPS 13-14A staff costs will be $870,142. Therefore, Finance is approving Item 370 in'the amounts of $849,314 and $870,142 for ROPS III and ROPS 13-14A, respectively. Since the ROPS 13-14A RPTTF distribution has already occurred and these amounts were not included in the amount approved by Finance, the Agency may list these unfunded amounts on a future ROPS for funding or enter into a loan agreement with the City of Oakland (City) to fund these approved amounts. If the Agency enters into a loan agreement with the City, the loan should be placed on a subsequent ROPS for repayment from the RPTTF. Going forward, Finance requests that the Agency implements project codes in their accounting system for each of the approved ROPS projects in order to more easily identify the staff assigned and costs incurred for each housing project. Furthermore, the Agency should report the staff costs for each housing project on a separate line item on the ROPS. Please direct.ih(::iuir"ies to Justyn Howard, Assistant Program Budget Manager, at (916)445-1546. , Sincerely. STEVE SZALAY Local Government Consultant cc: Mr. Patrick tane, Redevelopment Program Manager, City of Oakland Ms. Carol S. Orth, Tax Analysis, Division Chief. County of Alameda California State Controller's Office