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This document outlines the Recognized Obligation Payment Schedule for the Successor Agency to the Chico Redevelopment Agency, detailing obligations from July to December 2012.

How to fill out recognized obligation payment schedule

How to fill out Recognized Obligation Payment Schedule

1. Start by obtaining the Recognized Obligation Payment Schedule (ROPS) form, which is typically provided by your local oversight agency.
2. Review the instructions and guidelines that accompany the form to understand the specific requirements for filling it out.
3. Enter the reporting period accurately in the designated section, specifying the period for which the obligations are being reported.
4. List all recognized obligations, including bond payments, contracts, and any other financial obligations of the Successor Agency.
5. For each obligation, provide the necessary details such as amount, due date, and funding source.
6. Ensure each entry aligns with the approved project list and adheres to the remaining funding limits.
7. Double-check all entries for accuracy and completeness, ensuring that no obligations are omitted.
8. Submit the completed ROPS form to your local oversight agency by the deadline provided in the guidelines.

Who needs Recognized Obligation Payment Schedule?

1. The Recognized Obligation Payment Schedule (ROPS) is required by Successor Agencies and local agencies that handle the dissolution of Redevelopment Agencies under California law.
2. It is used by local governments, financial institutions, and oversight boards to track and authorize payments for outstanding obligations.

People Also Ask about

What is ROPs in government?

Recognized Obligation Payment Schedule (ROPS) Each Successor Agency is responsible for preparing a ROPS in a manner provided by Finance, listing the enforceable obligations of the former RDA and their source of payment. ROPS are subject to the approval of the local Oversight Board.

What is a payment schedule in English?

A payment schedule is an agreement between buyer and seller as to when and how a transaction will be paid. It provides a clear timeline for both parties as to when payments are expected. Different types of payments are possible, including lump-sum, instalment and fixed payments.

For pdfFiller’s FAQs

What is Recognized Obligation Payment Schedule?

The Recognized Obligation Payment Schedule (ROPS) is a document that outlines the obligations of a redevelopment agency or a successor agency, detailing the payments that are to be made from tax increment revenue.

Who is required to file Recognized Obligation Payment Schedule?

Successor agencies, which are established to wind down the activities of former redevelopment agencies after the dissolution of redevelopment agencies in California, are required to file the Recognized Obligation Payment Schedule.

How to fill out Recognized Obligation Payment Schedule?

To fill out the ROPS, agencies must provide detailed information about each obligation, including the name of the obligation, the type of funding, the amount owed, and the funding sources, following the guidelines set by the state.

What is the purpose of Recognized Obligation Payment Schedule?

The purpose of the ROPS is to ensure transparency and accountability in the financial obligations of successor agencies, allowing for proper funding and monitoring of redevelopment-related expenses.

What information must be reported on Recognized Obligation Payment Schedule?

The ROPS must report information such as the description of the obligation, the amount requested, the funding source, the dates of payment, and any additional necessary details as prescribed by state regulations.