HomeMy WebLinkAboutUnbudgeted Expenditure - Transfer of General Funds to the Ocl� M� js I KwL�Sr-
Council/Agency Meeting Held: a-1 -a1
Deferred/Continued to:
Approved ❑ Conditionally Approved ❑ Denied
PCity Cle Signature
Council Meeting Date: 5/7/01
Department ID Number: AS 01-011
CITY OF HUNTINGTON BEACH
REQUEST FOR COUNCIL ACTION
SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS
SUBMITTED BY: RAY SILVER, City Administratoraz/ A �,
PREPARED BY: CLAY MARTIN, Administrative Services Director
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SUBJECT: Approve the Transfer of General Funds to the Ocean View Est Se -- U
Enterprise Fund and Authorize and Designate the Real Estatd--' ?
Services Manager or his Designee as the Ocean View Estate,, n
Enterprise Fund Manager
Statement of Issue, Funding Source, Recommended Action, Alternative Action(s), Analysis, Environmental Status, Attachment(s)
Statement of Issue: There is a need to transfer funds to establish the Ocean View Estates
(OVE) Enterprise Fund that was approved as part of the FY2000/2001 Budget.
Funding Source: Space rent and option revenues held in the General Fund since
October 1, 2000 in Rentals account #10000100.43165 and Miscellaneous Option Agreement
account #10000100.48550 per approved FY2000/2001 Budget.
Recommended Action:
1. Authorize and Designate the Real Estate Services Manager as the Ocean View
Estates Enterprise Fund Manager, and Authorize the Real Estate Services
Manager to:
2. Transfer all space rent proceeds to date, estimated at $86,663.00, from account
#10000100.43165 to the OVE Enterprise Fund.
3. Transfer all option/sale proceeds, estimated at $56,000.00 , from account
#10000100.48550 to the OVE Enterprise Fund.
4. Direct all current and future space rent and other OVE revenues to the OVE
Enterprise Fund.
5. Approve the positions of Finance Officer, Central Services Manager, Risk
Manager as designees of the Ocean View Estates Enterprise Fund Manager, to
act in his absence.
AQUEST FOR COUNCIL ACN
MEETING DATE: 5/7/01 DEPARTMENT ID NUMBER: AS 01-011
Alternative Action(s):
Do not transfer funds from the General Fund and direct that all expenses for
maintenance, management, capital improvements, and reserves be provided by
specific departmental budgets.
Analysis: Ocean View Estates Mobilehome Park (OVE) is owned and operated by the
City of Huntington Beach, and is located on the northeast corner of Ellis Avenue and
Golden West Street. OVE sits on approximately 8.8 acres acquired in the mid 1980's and
provides for forty-four (44) mobile home sites for persons displaced as a result of the
development of the Waterfront Hilton Project and market rate tenants. The termination
date of the longest outstanding lease is March 2019.
Historically, operating expenses required for the maintenance and upkeep of the
mobilehome park have been funded from the General Fund or other departmental budgets.
The California Mobilehome Residency Law requires the City, as owner and operator of
OVE to maintain an appropriate level of services and quality of life for the tenants. Recent
budget changes eliminating funding support from other departments and the desire of the
City Council to create a more accurate accounting of the OVE revenue and expenditures
led to the City Council approval of the OVE Enterprise Fund in the FY2000/2001 Budget.
Under the new enterprise fund system, all revenue from space rentals and coach sales will
be credited to the fund, and all expenditures for maintenance and operations will be
charged against the fund. At the end of the fiscal year, the remaining fund balance in
excess of reserve requirements will be transferred into the General Fund.
Environmental Status: No impact
Attachment(s):
RCA Author: M. HEINEKE
RCA ROUTING SHEET
INITIATING DEPARTMENT:
ADMINISTRATIVE SERVICES
SUBJECT:
OCEAN VIEW ESTATES ENTERPRISE FUND
COUNCIL MEETING DATE:
May 7, 2001
RCA ATTACHMENTS
STATUS
Ordinance (w/exhibits & legislative draft if applicable)
Not Applicable
Resolution (w/exhibits & legislative draft if applicable)
Not Applicable
Tract Map, Location Map and/or other Exhibits
Not Applicable
Contract/Agreement (w/exhibits if applicable)
(Signed in full by the City Attome
Not Applicable
Subleases, Third Party Agreements, etc.
(Approved as to form by City Attome
Not Applicable
Certificates of Insurance (Approved by the City Attome)
Not Applicable
Financial Impact Statement Unbud et, over $5,000
Not Applicable
Bonds (If applicable)
Not Applicable
Staff Report (if applicable)
Not Applicable
Commission, Board or Committee Report If applicable)
Not Applicable
Findings/Conditions for Approval and/or Denial
Not Applicable
EXPLANATION FOR MISSING ATTACHMENTS
REVIEWED
RETURNED
FORWARDED
Administrative Staff
Assistant City Administrator Initial
City Administrator Initial
City Clerk
EXPLANATION FOR RETURN OF ITEM: