HomeMy WebLinkAboutSA 1.a Recognized Obligation Payment Schedule (ROPS) for Fiscal Year 2022-23____________________________________________________________________________________
FOR CITY CLERK ONLY
Council Meeting: January 18, 2022
Disposition: Accepted report
Agenda Item No: SA 1.a
Meeting Date: January 18, 2022
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
AGENDA REPORT
Department: Finance Department
Prepared by: Nadine Atieh Hade
Finance Director
City Manager Approval: ______________
TOPIC: RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) FOR FISCAL YEAR
2022-23
SUBJECT: ACCEPTANCE OF ROPS REPORT AND AUTHORIZATION TO SUBMIT TO THE
MARIN COUNTY SUCCESSOR AGENCY OVERSIGHT BOARD AND THE STATE
DEPARTMENT OF FINANCE
RECOMMENDATION:
1.Review and approve the annual ROPS for July 1, 2022 through June 30, 2023.
2.Authorize staff to submit the ROPS to the Marin County Successor Agency Oversight Board and
the State Department of Finance.
BACKGROUND: Effective February 1, 2012, all redevelopment agencies throughout the State, including
the San Rafael Redevelopment Agency (the “Dissolved SRRDA”) were dissolved as a result of the State
Supreme Court decision upholding ABx1 26 (the “Dissolution Act”). Under the provisions of the
Dissolution Act, the City as successor agency to the Dissolved SRRDA must prepare, and the Oversight
Board to the Successor Agency of the Dissolved SRRDA must adopt, a ROPS and Administrative Budget
for an annual basis starting in January 2016 pursuant to SB 107.
ANALYSIS: The ROPS lists the payments required to meet the Successor Agency’s obligations and
serves as the Agency’s budget. Funding of the Successor Agency’s obligations are administered
through Marin County after being received from the State. The ROPS must be approved by the Marin
Countywide Successor Agency Oversight Board and the State Department of Finance before it
becomes effective.
FISCAL IMPACT: No fiscal impact to the General Fund.
ATTACHMENT:
Recognized Obligation Payments Schedules (ROPS) for July 1, 2022 through June 30, 2023
Recognized Obligation Payment Schedule (ROPS 22-23) - Summary
Filed for the July 1, 2022 through June 30, 2023 Period
Successor Agency: San Rafael
County: Marin
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
22-23A Total
(July -
December)
22-23B Total
(January -
June)
ROPS 22-23
Total
A Enforceable Obligations Funded as Follows (B+C+D) $ - $ - $ -
B Bond Proceeds - - -
C Reserve Balance - - -
D Other Funds - - -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 3,001,500 $ 80,000 $ 3,081,500
F RPTTF 2,936,500 15,000 2,951,500
G Administrative RPTTF 65,000 65,000 130,000
H Current Period Enforceable Obligations (A+E) $ 3,001,500 $ 80,000 $ 3,081,500
Certification of Oversight Board Chairman:
Name Title
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency. /s/
Signature Date
San Rafael
Recognized Obligation Payment Schedule (ROPS 22-23) - ROPS Detail
July 1, 2022 through June 30, 2023
A B C D E F G H I J K L M N O P Q R S T U V W
Item
#
Project
Name
Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
22-23
Total
ROPS 22-23A (Jul - Dec)
22-23A
Total
ROPS 22-23B (Jan - Jun)
22-23B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$3,081,500 $3,081,500 $- $- $- $2,936,500 $65,000 $3,001,500 $- $- $- $15,000 $65,000 $80,000
1 Series
1999 TA
Bonds
Bonds
Issued
On or
Before
12/31/10
12/01/
1999
12/30/2022 US Bank Bond Issue
CABS paid
2018-2022
Central 1,440,000 N $1,440,000 - - - 1,440,000 - $1,440,000 - - - - - $-
2 Series
2002 TA
bonds
Bonds
Issued
On or
Before
12/31/10
12/01/
2002
06/30/2022 US Bank Bond issue
Dec 2014
Central - N $- - - - - - $- - - - - - $-
3 Series
2009 TA
Bonds
Bonds
Issued
On or
Before
12/31/10
12/01/
2009
06/30/2023 US Bank Bond issue
Dec 2014
Central 1,496,500 N $1,496,500 - - - 1,496,500 - $1,496,500 - - - - - $-
7 Continuing
Disclosure
Services /
Bond
Admin
Fees 12/01/
2009
06/30/2023 Wildan /
U.S.
Bank
Disclosure
and Trustee
Services
Central 15,000 N $15,000 - - - - - $- - - - 15,000 - $15,000
9 Agency
Admin
cost
allowance
Admin
Costs
06/30/
2011
12/30/2023 Agency
Admin
cost
allowance
Agency Admin
cost allowance
Central 130,000 N $130,000 - - - - 65,000 $65,000 - - - - 65,000 $65,000
12 RDA
Pension
Obligation
Unfunded
Liabilities
11/20/
1972
06/30/2023 City of
San
Rafael
unfunded
actuarial
accrued
liability 10 yr
amortization
schedule
Central - N $- - - - - - $- - - - - - $-
San Rafael
Recognized Obligation Payment Schedule (ROPS 22-23) - Report of Cash Balances
July 1, 2019 through June 30, 2020
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other
funding source is available or when payment from property tax revenues is required by an enforceable obligation.
A B C D E F G H
ROPS 19-20 Cash Balances
(07/01/19 - 06/30/20)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.
Non-Admin
and Admin
1 Beginning Available Cash Balance (Actual 07/01/19)
RPTTF amount should exclude "A" period distribution
amount.
(190,994)
2 Revenue/Income (Actual 06/30/20)
RPTTF amount should tie to the ROPS 19-20 total
distribution from the County Auditor-Controller
3,910,462
3 Expenditures for ROPS 19-20 Enforceable Obligations
(Actual 06/30/20)
3,910,462
4 Retention of Available Cash Balance (Actual 06/30/20)
RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5 ROPS 19-20 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 19-20 PPA
form submitted to the CAC
No entry required
6 Ending Actual Available Cash Balance (06/30/20)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$- $- $- $- $(190,994)
San Rafael
Recognized Obligation Payment Schedule (ROPS 22-23) - Notes
July 1, 2022 through June 30, 2023
Item # Notes/Comments
1
2
3
7
9
12
I