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v & o a s° <br /> Od-z-la <br /> PI PI RI staff report <br /> karcadia redevelopment agency <br /> • <br /> DATE: June 18, 2002 <br /> TO: Chairman and Agency Board <br /> FROM: William R. Kelly, Executive Director <br /> Don Penman, Deputy Exe e DirectorR <br /> Tracey L. Hause, Treasur ' <br /> SUBJECT: Resolution No. ARA-203 Adopting A Budget For Fiscal Year 2002/03, and <br /> Approving the City's Investment Policy <br /> SUMMARY <br /> It is recommended the Arcadia Redevelopment Agency annually consider a budget for <br /> the spending year. The recommended actions herein are necessary to implement the <br /> budget for the Redevelopment Agency for the 2002-2003 fiscal year. <br /> BACKGROUND <br /> The document presented for the fiscal years 2002-2003 was distributed to the <br /> Redevelopment Agency Board on May 24, 2002. On June 4, 2002, a study session <br /> was held to discuss the budget, respond to questions and receive input. <br /> DISCUSSION <br /> There were no recommendations made for revisions to the budget at the study session. <br /> As a result, staff is recommending adoption of the fiscal year 2002-2003 operating <br /> budget as presented. Additionally, staff is recommending the Agency Board approve <br /> the City's Investment Policy (Attachment "A") as applicable to the Agency. There are no <br /> proposed changes to the policy. The Agency's independent auditors have requested <br /> formal action on the Investment Policy annually. Since the Agency has historically <br /> included the Policy as part of the budget document, action at this time is recommended. <br /> RECOMMENDATION <br /> It is recommended that the Redevelopment Agency adopt Resolution No. ARA- <br /> 203, a Resolution of the Arcadia Redevelopment Agency of the City of Arcadia, <br /> California, adopting a budget for the fiscal year 2002-2003 and appropriating the <br /> amounts specified therein as expenditures from the funds indicated and approve <br /> the City of Arcadia Investment Policy as applicable to the Agency. <br /> Approved (L.tf <br /> William R. Kelly, Executive Director <br /> LASER IMAGED <br /> ,v. Act)- <br />