The Recognized Obligation Payment Schedule (ROPS) is a permanent schedule of obligations that replaces the EOPS once it is approved by the Oversight Board to the Successor Agency to the former Redevelopment Agency. Only payments required pursuant to the ROPS may be made by the Successor Agency after May 1, 2012. The County Auditor-Controller will allocate property tax increment to Successor Agencies to pay debts listed on the ROPS. A new ROPS must be adopted for each successive six-month period.
The ROPS will become valid and operative when the following steps have been completed:
- The draft ROPS is certified by an external audit overseen by the County Auditor-Controller. The County of Fresno recently engaged Price, Paige and Company, a CPA firm in Clovis, to perform the required audit. Successor Agency staff is currently working with the firm in the audit process.
- The ROPS is approved by the Oversight Board. The first meeting of the Oversight Board was held on Monday, April 30, 2012. The Oversight Board approved both ROPS at their first meeting on April 30, 2012. The first ROPS covered the period from January 1, 2012 through June 30, 2012 and the second ROPS covered the period from July 1, 2012 through December 31, 2012.
- A copy of the approved ROPS is submitted to the County of Fresno Auditor-Controller, Department of Finance and the State Controller’s Office, and has been posted on the Successor Agency’s website. A copy of the preliminary draft ROPS was submitted to the Fresno County Auditor-Controller, Department of Finance and the State Controller’s Office on March 26, 2012. The Oversight Board’s approved first and second ROPS was sent to the required offices on May 1, 2012.