June 17, 2025
TO: City Council
REQUESTED BY: Tom Prill, Deputy City Manager
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: Adoption of Successor Agency’s Fiscal Year 2025-2026 Budget RECOMMENDATION:
Staff recommends that the Successor Agency Board adopt Resolution No. SA 25-01, adopting the Fiscal Year 2025-2026 Operating and Capital Budget for the Successor Agency to the Redevelopment Agency of the City of San Jacinto (SA).
BACKGROUND:
The Executive Director and staff have prepared a proposed budget for the winding down of activities of the dissolved Redevelopment Agency for the SA Board’s discussion, deliberation, and ultimate adoption. The budget is adopted by a resolution, which provides for appropriations to operate the SA for the ensuing fiscal year.
A detailed summary of the budget is presented to Agency Board here in the form of the Proposed Budget. This document summarizes the recommended expenditures in all budget funds and programs as well as any recommended service level enhancements and reserves levels.
DISCUSSION:
Proposed revenues are $635,878 with recommended expenditures of $608,869. The expenditures include all capital project expenditures, even though all projects may not be completed within the next fiscal year.
The proposed total budget is categorized as:
Operations $ 36,239
Capital Projects 0
Debt Service 572,630
Total Budget $ 608,869
Operations and Projects
The SA funds staffing as professional services that provide support to the agency. In addition, there is an anticipated $0 of carryover capital projects.
Debt Service
The SA funds the annual debt service for the 2005 San Jacinto RDA $9.4 million tax allocation bonds.
FISCAL IMPACT:
The fiscal impact is that of proposed expenditures of $608,869, and proposed revenues of $635,878.
ATTACHMENTS:
Resolution No. SA 25-01 SA Budget Adopt
06-17-25 Resolution - SA Budget Adopt - Attachment A