TO:Andrew P. Powers, City Manager
FROM:Jaime Boscarino, Finance Director
DATE:January 16, 2024
SUBJECT: Thousand Oaks Plan to Assist School Sites Annual Project List RECOMMENDATION:
1. Approve Thousand Oaks Plan to Assist School Sites (TOPASS) Annual Project List for Fiscal Year 2023-24 totaling $1,634,722 submitted by Conejo Valley Unified School District (CVUSD).
2. Find that this action is not a project as defined under section 15378(b)(5) of the California Environmental Quality Act Guidelines.
FINANCIAL IMPACT:
No Additional Funding Requested. Minimal staff time to prepare staff report is included in the Adopted FY 2023-24 General Fund Budget. Projects are funded by the Redevelopment Property Tax Trust Fund (RPTTF), with pass-through agreements.
BACKGROUND:
The City, the Thousand Oaks Redevelopment Agency (Agency), and CVUSD entered into the TOPASS Agreement in 1984. The TOPASS Agreement provides that five percent of the local property tax increment revenue generated by redevelopment will be made available to assist CVUSD with capital projects at designated tributary schools.
Per the terms of the TOPASS Agreement, prior to Agency dissolution, the City forwarded the funds to CVUSD upon City Council approval of a CVUSD annual report on the prior fiscal year’s expenditures and a project list of proposed capital projects for the next fiscal year. As of February 1, 2012, redevelopment agencies were dissolved due to the passage of Assembly Bill X1 26. With the dissolution, the County Auditor-Controller now remits the local property tax increment generated per the TOPASS agreement directly to CVUSD.
TOPASS Annual Project List
January 16, 2024
8 8
6 On November 20, 2012, City Council approved the distribution of City-held TOPASS funds to CVUSD for proposed capital projects to wind down the affairs of the former Agency. Per the TOPASS agreement, the funds are placed in a separate, interest-bearing account.
DISCUSSION/ANALYSIS:
In keeping with the parameters of the TOPASS Agreement, CVUSD continues to provide the City with an annual list of future projects for City Council approval. The CVUSD Board approved the FY 2023-24 TOPASS Project List (Attachment #1) at its October 4, 2023, Board meeting. The FY 2023-24 TOPASS Project List includes a district-wide Tesla renewable energy project, various safety-security projects, all access restrooms, painting, track repairs, café-library renovations, modular buildings leases, and annual contributions to the track and field trusts at each of the three high schools for future projects. Staff recommends that City Council approve the FY 2023-24 TOPASS Project List.
The CVUSD Board also certified its Annual Compliance Report (Attachment #1) at the October 4, 2023, Board meeting. The Annual Compliance Report summarizes the income and expenditures of funds spent on projects CVUSD previously submitted for approval. The CVUSD Board certified that the funds were expended in compliance with the requirements of the TOPASS Agreement and expended on projects approved by the CVUSD Board and City Council. The CVUSD Board also certified that the required maintenance of effort was met per the terms of the TOPASS Agreement. The required maintenance of effort is a minimum of 7.85 percent based on CVUSD’s 1979-80 through 1983-84 expenditures. CVUSD’s FY 2022-23 maintenance of effort was 10.82 percent, exceeding the required maintenance of effort.
COUNCIL GOAL COMPLIANCE:
Meets the following City Council goal:
H. Participate in public-private and multi-jurisdictional opportunities to ensure residents have access to high levels of parks, recreation, education and leisure programs and services.
PREPARED BY: Elisa Q. Magaña, Accounting Manager
Attachments:
Attachment #1 – FY 2023-24 TOPASS Project List & Annual Compliance FIN:515-70\em\H:\COMMON\Council\2023\Accounting\011023 TOPASS Staff Report.docx