12/19/2000 RA RPT 09 - Laserfiche WebLink

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. CITY OF RIVERSIDE COUNCIL/AGENCY MEMORANDUM Honorable Mayor & City Council and Redevelopment Agency Date: Item No.: December 19,2000 9 Subject: Request for Approval and Acceptance of Redevelopment Agency's 2000 Financial Statements Background: In accordance with Section 33080 of the State Health and Safety Code, redevelopment agencies are required to file annual reports with their legislative bodies and the State Controller's Office. Attached are the 2000 financial statements for the Redevelopment Agency of the City of Riverside. The Report is required to contain an audit of the Redevelopment Agency that includes an opinion on the Agency's compliance with laws, regulations, and administrative requirements governing activities of the Agency: a fiscal statement concerning the amount of indebtedness, tax increment revenues and pass-through agreement expenditures; a description of the Agency's activities affecting housing; and any other pertinent information describing the Agency's program. New reporting requirements were added to Section 33080 of the State Health and Safety Code for 1999: a description of the agency's progress in alleviating blight; a list of all loans of $50,000 or more that were in default or not in compliance with the terms of the agreement; and a description of the properties the agency owns, including those acquired during the fiscal year. Reports concerning blight alleviation and properties owned by the agency are attached for fiscal years 1999 and 2000. No loans of $50,000 or more were in default or noncompliance with the terms of the agreement for fiscal years 1999 or 2000, so no loan report is attached. Fiscal Impact: There is no fiscal impact. Committee Action: Staff presented this item to the Finance Committee on December II, 2000. Committee members Maureen Kane and Chuck Beaty were present and concurred in the suggested recommendation and then moved this item forward for consideration by the City Council and Agency Board. Recommendation: That the City Council and the Redevelopment Agency: 1. Review and accept the General Purpose Financial Statements of the Redevelopment Agency of the City of Riverside, California, and other reports required by Section 33080 of the State Health and Safety Code for the fiscal year ended June 30, 2000. Prepared by: p~oZ. ~~ Carol Britton Administrative Services Manager Approved by: ~c.~ Jfin-E. Holmes City Manager 9-1