RECOMMENDATION TO COUNCIL
Staff recommends Council adopt a resolution to approve the Roseville Finance Authority budget for Fiscal Year 2020-21.
|
BACKGROUND
Debt service payments of $2,377,715 reflect scheduled payments on the Certificates of Participation (COPs) for the Corporation Yard and 316 Vernon Street. The Authority has issued other bonds and COPs, but that debt service is reflected in the City's budget within each respective fund. For CFD bond issues, the Authority acts as a conduit to collect payments through the County tax levy for the repayment of outstanding debt of these special districts.
Transfers out of the Roseville Finance Authority Capital Projects Fund of $474,098 represents funding transferred to the Citywide Parks Fund for the repayment of a loan from the Automotive Replacement Fund which funded a portion of the construction of Harry Crabb Park.
|
FISCAL IMPACT
There is no fiscal impact to report.
|
ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment (CEQA Guidelines section 15061(b)(3)). Adoption of the Roseville Finance Authority Budget does not include the potential for a significant environmental impact, and therefore is not subject to CEQA.
|
Respectfully Submitted,
Nick Rosas, Accounting Supervisor
Dennis Kauffman, Assistant City Manager/Chief Financial Officer |
| |
_____________________________
Dominick Casey, City Manager
|