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HomeMy WebLinkAboutMINUTES - 07222003 - C.61 TO: REDEVELOPMENT AGENCY Contra FROM: JOHN SWEETEN 3' Costa EXECUTIVE DIRECTOR �. County DATE: July 22, 2003 '' SUBJECT: Special Accounting Services for Redevelopment Agency SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDATION: RESCIND Agency Carder 0.152 of June 3, 2003 approving a contract with David G. Bullock, Certified Public Accounting, and APPROVE and AUTHORIZE the Redevelopment Director to execute a contract with Macias Gini & Company for special accounting services for the Redevelopment Agency and the Contra Costa Public Financing Authority in an amount not to exceed $325,000 for the time period June 1,2003-December 31, 2005. FINANCIAL IMPACT: No general funds involved. Contract will be paid from Pleasant Hill BART, Bay Point, Rodeo and North Richmond Redevelopment Project Area funds, and from County Capital Facilities funds (portion of Public Financing Authority scope only). BACKGROUND: The Redevelopment Agency is mandated by law to submit various annual reports to the State Controller's Office. In order to submit these annual reports, the Agency has need of technical accounting assistance and guidance to maintain current and accurate records for financial transactions in the various financial arenas in which the Agency maintains an active participation. Some of these spheres of financial activities include the various Redevelopment Project Areas, tax allocation bonds, capital markets financing, and multifamily bond issues. Execution of this contract amendment will enable the Agency to ensure the accuracy of the complex accounting procedures necessary for those and other financial transactions. The County and the Redevelopment Agency are also parties to the Contra Costa Public Financing Authority, a joint powers agency formed to expeditiously issue tax exempt bonds of the Redevelopment Agency and the County. Financial statements need to be prepared on behalf of the Public Financing Authority in order to prepare for the independent audit. A previous contract with ©avid G. Bullock was approved by the Redevelopment Agency on June 3, 2003, Item #0.152. Mr. Bullock is now with Macias Gini&Company, hence the rescission f the prior ar�,is ,commended.,cAie / SIGNATURE: t'r , n , ✓11 CONTINUED ON ATTACHMENT: YES w v .,. '' ®COMMENDATION OF EXECUTIVE DIRECTOR ® RECOMMEN°tf.AjION OF A EhCY COMMITTEE APPROVE ❑OTHER � ill JSIGNATURE( ): f ACTION OF AG Y ON j iAy 22, 2003 f APPROVED AS RECOMMENDED OTHER ❑ VOTE OF SUPERVISORS: I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN ACTION TAKEN AND X UNANIMOUS(ABSENT IV } ENTERED ON THE MINUTES OF THE REDEVELOPMENT AGENCY ON THE DATE AYES: NOES: SHOWN. ABSENT: ABSTAIN: ATTESTED Contact: Jim Kennedy,5-1255 July 22, 2003 Orig: Redevelopment Agency cc: CAO JOHN SWEETEN,AGENCY SECRETARY County Counsel Auditor-Controller General Services-Architectural viae Redevelopment By: • Macias GIN&Company \\fs-cd\users$11noblekPersonal\Board Orders and Greenies\RDA.7.22.43.accountingsenrices.doc