RESOLUTION SA 2025-
A RESOLUTION OF THE SUCCESSOR
AGENCY TO THE REDEVOLPMENT
AGENCY OF THE CITY OF MERCED
ADOPTING THE BUDGET AND
APPROPRIATING REVENUE FOR FISCAL
YEAR 2025-2026
WHEREAS, the Successor Agency to the Redevelopment Agency of the City of Merced ("Agency") has determined it is necessary to expends funds to carry out its purposes and that a budget therefore is necessary and desirable; and,
WHEREAS, the Agency has determined that planning and
administrative expenses are necessary for the successful operation of the Agency; and,
NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE
REDEVOLPMENT AGENCY OF THE CITY OF MERCED DOES
HEREBY FIND, DETERMINE, ORDER AND RESOLVE AS FOLLOWS:
SECTION 1. That it is necessary to charge planning and
administrative services to the Agency and that the administrative expenses budgeted for Fiscal Year 2025-2026 are reasonable and proper.
SECTION 2. That the 2025-2026 Budget, as submitted by the Executive Director and as considered by the Agency, is hereby approved and adopted in the amounts set forth in the schedules and summaries of said budget document and allocations are hereby approved for the purposes herein stated.
SECTION 3. That the Executive Director or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of services.
SECTION 4. That the recommended ending balance for June 30, 2026, shown in the proposed annual Financial Summary section is an X: \Resolutions|2025 RDA Successor Agency\Budget Successor Agency Adoption FY 2025-26.doex 1 estimate, and the actual ending balance is hereby appropriated as a reserve for unanticipated uses as determined by the Agency.
SECTION 5. Capital Improvement Projects revenue and unspent appropriation carryover budget amounts from 2024-2025 shall be recalculated and updated to reflect actual balances as of June 30, 2025 and are hereby incorporated as part of the 2025-2026 approved Budget.
SECTION 6. That the Executive Director or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of Agency services.
SECTION 7. That the Executive Director or designee is authorized to execute public works project contracts which are below the threshold amount which is adjusted annually by the Finance Officer in accordance with the Engineering Construction Cost Index.
PASSED AND ADOPTED by the Successor Agency to the
Redevelopment Agency of the City of Merced at a regular meeting held on the 16th day of June 2025, by the following vote:
AYES: Authority Members:
NOES: Authority Members:
ABSENT: Authority Members:
ABSTAIN: Authority Members:
:\Resolutions\2025\RDA Successor Agency Budget Successor Agency Adoption FY 2025-26.docx 2 APPROVED:
MATTHEW SERRATTO, MAYOR
Mayor
ATTEST:
D. SCOTT MCBRIDE, CITY CLERK
BY:
Assistant/Deputy City Clerk
(SEAL)
APPROVED AS TO FORM:
CRAIG J. CORNWELL, CITY ATTORNEY
Saiganell 4/10/2025
X:Resolutions\2025 RDA Successor Agency Budget Successor Agency Adoption FY 2025-26.doex 3