HA Resolution 2017-003RESOLUTION NO. HA 2017- 003
A RESOLUTION OF THE LA QUINTA HOUSING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 2017/2018
WHEREAS, each year the La Quinta Housing Authority adopts a Budget for
Revenues and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the Housing Authority desires to make provisions for a level of services
commensurate with the needs of the City; and
WHEREAS, the Housing Authority has reviewed said budget and has had several
public meetings to receive public input; and
WHEREAS, the Housing Authority has, after due deliberation and consideration,
made such amendments in the proposed budget as it considers desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Housing Authority to adopt,
as follows:
SECTION 1. The Fiscal Year 2017/2018 Budget "Exhibit A", which is on file with the La
Quinta Housing Authority Secretary, is hereby approved.
SECTION 2. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cash or unappropriated fund balance
from one fund to another shall be made only upon Housing Authority approval.
B. Transfers of budgeted appropriations between divisions or capital projects shall be
made only upon Housing Authority approval.
C. Transfers of budgeted appropriations between accounts within a division or capital
project may be made with the approval of the Executive Director or his designee.
D. Prior year budget continuing Appropriations and Encumbrances for unexpended
capital project appropriations remaining from uncompleted prior year capital
projects shall be made with Executive Director approval. These carry-over
appropriations are for prior year Housing Authority approved capital projects and
shall not exceed the approved project budget.
Resolution No. HA 2017-003
La Quinta Housing Authority Annual Budget - Fiscal Year 2017/18
Adopted: June 20, 2017
Page 2 of 2
SECTION 3. The Executive Director shall render a monthly report on the status of City
operations as it relates to the approved budget and any amendments thereto.
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta Housing
Authority held on this 20th day of June, 2016, by the following vote:
AYES: Authority Members Evans, Pena, Radi, Sanchez, Chair Fitzpatrick
NOES: None
ABSENT: None
ABSTAIN: None
KATHLEEN FITZPATRICK,Ch rperson
La Quinta Housing Authority, California
ATTEST:
a4,„ aip
SUSAN MAYSELS, Author! t'/ Secretary
La Quinta Housing Authority, California
(AUTHORITY SEAL)
APPROVED AS TO FORM:
(;()
WILLIAM H. IHRKE, Authority Attorney
La Quinta Housing Authority, California
2017/18 ADOPTED BUDGET
4 41 c'Tlp+ it
— —
GEM of iN DESERT —
HOUSING AUTHORITY
CITY OF LA QUINTA
HOUSING AUTHORITY REVENUE 2017/18 ADOPTED BUDGET
2015/16 2016/17
2016/17 2017/18 2017/18
Actual Revenue Original Budget Current Budget Proposed Budget Adopted Budget
241- HOUSING AUTHORITY
241-0000-41900
241-0000-41915
241-0000-42112
241-0000-42302
241-0000-43502
Allocated Interest
Non -Allocated Interest
Rent Revenue/Tenant/W
Miscellaneous Revenue/'
Rent Revenue/LQRP
241-0000-43504 2nd Trust Deed RepaymE
241- HOUSING AUTHORITY Totals:
242 - HOUSING AUTHORITY PA2
242-0000-41900 Allocated Interest
242-0000-41916 Non -Allocated Interest/V
242-0000-42112 Rent Revenue/Tenant/NJ
242-0000-42113 RentVariances/WSA
242-0000-42301 Miscellaneous Revenue
242-0000-42302 Miscellaneous Revenue/
242-0000-42706 Loan Repayments
242-0000-43520 Federal Government Ass
242 - HOUSING AUTHORITY PA2 Totals:
28,785.08
18,491.10
0.00
0.00
287,173.84
33,228.50
12,000.00
400.00
614,800.00
2,400.00
260,000.00
0.00
12,000.00
400.00
614,800.00
2,400.00
260,000.00
0.00
20,000.00
0.00
614,800.00
4,200.00
280,000.00
0.00
20,000.00
0.00
614,800.00
4,200.00
280,000.00
0.00
367,678.52 889,600.00
889,600.00
919,000.00
919,000.00
17,007.93
1,714.28
201,130.00
(3,493.00)
2.00
5,148.23
5,000,000.00
426,134.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,647,643.44
0.00
0.00
0.00
0.00
NON -GENERAL FUND REVENUE 6,015,321.96
889,600.00 889,600.00
919,000.00 919,000.00
CITY OF LA QUINTA
HOUSING AUTHORITY FUND EXPENSES 2017/18 ADOPTED BUDGET
241 - HOUSING AUTHORITY
9101- Housing Authority - Admin
Salaries and Benefits
241-9101-50101
241-9101-50110
241-9101-50150
241-9101-50200
241-9101-50210
241-9101-50221
241-9101-50222
241-9101-50223
241-9101-50224
241-9101-50225
241-9101-50230
241-9101-50240
Permanent Full Time
Commissions & Boards
Other Compensation
PERS-City Portion
PERS-Survivor Benefits
Medical Insurance
Vision Insurance
Dental Insurance
Life Insurance
Long Term Disability
Workers Comp Insurance
Social Security -Medicare
50 - Salaries and Benefits Totals:
Contract Services
241-9101-60103 Professional Services
241-9101-60106 Auditors
241-9101-60153 Attorney
60 - Contract Services Totals:
Maintenance & Operations
241-9101-60320 Travel & Training
241-9101-60420 Operating Supplies
62 - Maintenance & Operations Totals:
Internal Service Charges
241-9101-91844
241-9101-98110
Earthquake Insurance
Information Tech Charges
69 - Internal Service Charges Totals:
2015/16 2016/17 2016/17 2017/18 2017/18
Actual Expenses Original Budget Current Budget Proposed Budget Adopted Budget
63,549.98
0.00
4 00
3,930.20
0.00
14,252.37
358.22
1,650.33
76.41
542.49
1,899.96
909.48
37,400.00
0.00
300.00
2,900.00
100.00
8,300.00
0.00
0.00
0.00
400.00
1,200.00
600.00
52,100.00
0.00
300.00
2,900.00
100.00
8,800.00
0.00
0.00
0.00
400.00
1,200.00
600.00
63,400.00
3,000.00
600.00
11,900.00
100.00
18,200.00
0.00
0.00
0.00
700.00
3,000.00
1,100.00
63,400.00
3,000.00
600.00
11,900.00
100.00
18,200.00
0.00
0.00
0.00
700.00
3,000.00
1,100.00
87,173.44 51,200.00 66,400.00 102,000.00 102,000.00
59,118.34
3,500.00
4,516.29
70,000.00
6,000.00
10,000.00
70,000.00
6,000.00
10,000.00
0.00
0.00
25,000.00
0.00
0.00
25,000.00
67,134.63
86,000.00 86,000.00
25,000.00 25,000.00
1,215.90 0.00 0.00 1,000.00 1,000.00
0.00 2,000.00 2,000.00 2,000.00 2,000.00
1,215.90 2,000.00 2,000.00 3,000.00 3,000.00
12,999.96 13,000.00 13,000.00 20,000.00 20,000.00
0.00 0.00 0.00 8,400.00 8,400.00
12,999.96 13,000.00 13,000.00 28,400.00 28,400.00
9101- Housing Authority - Admin Totals: 168,523.93 152,200.00 167,400.00 158,400.00 158,400.00
9102 - Housing Authority - Wash St Apts
Contract Services
241-9102-60103 Professional Services
241-9102-60106 Auditors
0.00 0.00 0.00 70,000.00 70,000.00
0.00 0.00 0.00 2,500.00 2,500.00
60 - Contract Services Totals: 0.00 0.00 0.00 72,500.00 72,500.00
Maintenance & Operations
241-9102-60157 Rental Expenses
62 - Maintenance & Operations Totals:
Debt Service
241-9102-61609
241-9102-61610
241-9102-61680
241-9102-61681
Interest Expense - Provident
Interest Expense - USDA
Principal Payment - Provident
Principal Payment - USDA
67 - Debt Service Totals:
Capital Expenses
241-9102-72100 Building Improvements
68 - Capital Expenses Totals:
208,673.44
615,200.00 615,200.00
466,100.00 466,100.00
208,673.44 615,200.00 615,200.00 466,100.00 466,100.00
0.00
0.00
0.00
0.00
109,400.00
17,100.00
45,100.00
21,200.00
109,400.00
17,100.00
45,100.00
21,200.00
109,100.00
17,000.00
45,300.00
21,200.00
109,100.00
17,000.00
45,300.00
21,200.00
0.00 192, 800.00 192, 800.00 192,600.00 192,600.00
0.00 0.00 0.00 50,000.00 50,000.00
0.00 0.00 0.00 50,000.00 50,000.00
9102 - Housing Authority - Wash St Apts Totals: 208,673.44 808,000.00 808,000.00 781,200.00 781,200.00
9103 - Housing Authority - LQRP
Contract Services
241-9103-60106 Auditors 0.00 0.00 0.00 2,500.00 2,500.00
241-9103-60155 Uncollected Rent 6,174.96 0.00 0.00 0.00 0.00
241-9103-60156 Prop Damage/Other 6,699.70 0.00 0.00 0.00 0.00
60 - Contract Services Totals: 12,874.66 0.00 0.00 2,500.00 2,500.00
2
CITY OF LA QUINTA
HOUSING AUTHORITY FUND EXPENSES 2017/18 ADOPTED BUDGET
2015/16 2016/17 2016/17 2017/18 2017/18
Actual Expenses Original Budget Current Budget Proposed Budget Adopted Budget
Maintenance & Operations
241-9103-60157 Rental Expenses
62 - Maintenance & Operations Totals:
0.00 0.00 0.00 250,000.00 250,000.00
0.00 0.00 0.00 250,000.00 250,000.00
9103 - Housing Authority - LQRP Totals: 12,874.66 0.00 0.00 252,500.00 252,500.00
241- HOUSING AUTHORITY Totals: 390,072.03 960,200.00 975,400.00 1,192,100.00 1.192.100.00
Commencing in fiscal year 2017/18 Fund 241 will have three departments:
9101 - Housing Authority Administration
9102 - Washington Street Apartments
9103 - La Quinta Rental Properties
3
Pe n:ta4 Expenses 466,100.00
Fund: 241- HOUSING AUTHORITY
241-9101-50101 Permanent full Time
50% - Management Assistant
50% - Management Specialist
City Council Member Stipends (5)
Housing Commissioner Stipends
63,400.00
Increase in FY 2017/18 due to the addition of 50% of a Management Assistant
position which is shared with the City Clerk department.
241-9101-60320
241-9101-6042.01
Travel & 1,000.00
operating Supplies 2,000.00
Tenant luncheon and mailings
241-9102-60103
PKvfossipusaall 5eruuices 70,000.00
Expenses were relocated from 241-9101-60103 in FY 2017/18.
Expenses are used for:
Riverside County Recording Fees
Tenant Verifications
Government Reporting and Document Preparation
241-9102-60157'
In FY 2016/17 the budget included expenses for the La Quinta Rental
Properties. These expenses have been moved to account number 241-9103-60
241-9102-72100
Building Improvements 50000.00
Mechanical/HVAC Repairs
Exterior Lighting Improvements
241-9103-60157
Rental' E43enses 250,000.00
In FY 2016/17 these expenses were previously budgeted in account number
241-9102-60157.
CITY OF LA QUINTA
HOUSING AUTHORITY FUND EXPENSES 2017/18 ADOPTED BUDGET
2015/16
Actual Expenses
2016/17 2016/17
Original Budget Current Budget
2017/18 2017/18
Proposed Budget Adopted Budget
242 - HOUSING AUTHORITY PA2
9201- Housing Authority PA2
Salaries and Benefits
242-9201-50101 Permanent Full Time
50 - Salaries and Benefits Totals:
Maintenance & Operations
242-9201-60157 Rental Expenses/LQPR
62 - Maintenance & Operations Totals:
Debt Service
242-9201-61609
242-9201-61610
242-9201-61680
242-9201-61681
Interest Expense -Provident
Interest Expense - USDA/WSA
Principal Payment- Provident
Principal Payment- USDA
67 - Debt Service Totals:
9201- Housing Authority PA2 Totals:
242 - HOUSING AUTHORITY PA2 Totals:
825.00
0.00
0.00
0.00
0.00
825.00
336,534.16
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
336,534.16
0.00
0.00
0.00
0.00
112,726.46
19,135.12
41,747.98
19,235.12
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
192,844.68
0.00
0.00
0.00
0.00
530,203.84
0.00
0.00
0.00
0.00
530,203.84
0.00
0.00
0.00
0.00
Fund 242 was combined with Fund 241 in fiscal year 2016/17.
5
CITY OF LA QUINTA
HOUSING AUTHORITY BOND EXPENSES 2017/18 ADOPTED BUDGET
2015/16 2016/17 2016/17 2017/18 2017/18
Actual Expenses Original Budget Current Budget Proposed Budget Adopted Budget
248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)
9102 - Housing Authority - Wash St Apts
Contract Services
248-9102-60103 Professional Services 0.00 0.00 0.00 145,000.00 145,000.00
248-9102-60159 Relocation Benefits 0.00 0.00 0.00 229,700.00 229,700.00
248-9102-60185 Design/Construction 359,718.86 0.00 0.00 330,200.00 330,200.00
248-9102-60198 Planning & Development 0.00 0.00 0.00 1,000,000.00 1,000,000.00
60 - Contract Services Totals: 359,718.86 0.00 0.00 1,704,900.00 1,704,900.00
9102 - Housing Authority - Wash St Apts Totals: 359,718.86 0.00 0.00 1,704,900.00 1,704,900.00
SA 2004 LO/MOD BOND FUND (Refinanced in 2014) Totals: 359,718.86 0.00 0.00 1,704,900.00 1,704,900.00
6
Fund: 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)
248-9102-60103 Professional Services
248-9102-60159 Relocation Benefits
145,000.00
229,700.00
Relocation funds are projected to be distributed in January 2019. These funds
are being designated as set aside via budget resolution for this future purpose
and will be carried over from FY 2017/18 to 2018/19. A formal recognition of
this future expenditure is required for final approval of the relocation plan.
248-9102.60198
Planning & Development 1,000,000.00
Funds will be disbursed through draws to the developer. These funds are being
designated as set aside via budget resolution for this future purpose and will be
carried over from FY 2017/18 to 2018/19. A formal recognition of this future
expenditure is required for final approval of the Affordable Housing and
Property Disposition Agreement.
CITY OF LA QUINTA
HOUSING AUTHORITY BOND EXPENSES 2017/18 ADOPTED BUDGET
2015/16 2016/17 2016/17 2017/18 2017/18
Actual Expenses Original Budget Current Budget Proposed Budget Adopted Budget
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)
9102 - Housing Authority - Wash St Apts
Contract Services
249-9102-60188 Construction 0.00 0.00 0.00 9,400,000.00 9,400,000.00
60 - Contract Services Totals: 0.00 0.00 0.00 9,400,000.00 9,400,000.00
9102 - Housing Authority - Wash St Apts Totals:
0.00 0.00 0.00 9,400,000.00 9,400,000.00
% 2011 LOW/MOD BOND FUND (Refinanced in 2016) Totals: 0.00 0.00 0.00 9,400,000.00 9,400,000.00
8
Fund: 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)
249-9102-60188 Construction 9,400,000.00
Construction funds will be disbursed through draws to the developer. These
funds are being designated as set aside via budget resolution for this future
purpose and will be carried over from FY 2017/18 to 2018/19. A formal
recognition of this future expenditure is required for final approval of the
Affordable Housing and Property Disposition Agreement.
GLOSSARY OF BUDGET TERMS, CONTINUED
The following is a list of commonly used financial terms:
ALLOCATE - To divide a lump -sum appropriation which is designated for expenditure by
specific organization units and/or for specific purposes, activities, or objects.
APPROPRIATION - An authorization made by the council which permits the City to incur
obligations and to make expenditures of resources.
ASSET - Anything having commercial or exchange value that is owned by a business,
institution or individual.
AUDIT - Conducted by an independent Certified Public Accounting (CPA) Firm, the primary
objective of an audit is to determine if the City's Financial Statements present the City's
financial position fairly and results of operations are in conformity with Generally
Accepted Accounting Principles (GAAP).
BALANCED BUDGET - A budget in which planned expenditures do not exceed projected
funds available.
BALANCE SHEET - A financial statement reporting the organization's assets, liabilities and
equity activities.
BUDGET - The document created by the staff and approved by the City Council which
establishes the broad policy guidance on the projection of revenues and the allocation
toward various types of expenditures.
BUDGET CALENDAR - This is a schedule of the dates which is followed in the preparation,
adoption, and administration of the budget.
CONTINGENCY - An appropriation of funds to cover unforeseen events that occur during
the fiscal year such as flood emergencies, Federal mandates, shortfalls in revenue, and
similar eventualities.
CONTINUING APPROPRIATION - Funds committed for a previous fiscal year expenditure
which were not spent in the year of appropriation, but are intended to be used in the
succeeding year.
CONTRACTUAL SERVICES - Services rendered to City activities by private firms, individuals
or other governmental agencies. Examples of these services include engineering, law
enforcement, and city attorney services.
10
GLOSSARY OF BUDGET TERMS, CONTINUED
DEPARTMENT - A major organizational unit of the City which has been assigned overall
management responsibility for an operation or a group of related operations within a
functional area.
DESIGNATED FUND BALANCE - A portion of unreserved fund balance designated by City
policy for specific future use.
ENCUMBRANCE - The legal commitment of appropriated funds to purchase an item or
service. To encumber funds means to set aside or commit funds for a future expenditure.
EXPENDITURE - The outflow of funds paid for goods or services obtained.
FEES FOR SERVICES - Charges paid to the City by users of a service to help support the
costs of providing that service.
FISCAL YEAR - The fiscal year is defined as the beginning and ending period for recording
financial transactions. The City has specified July 1 to June 30 as its fiscal year.
FIXED ASSETS - Fixed Assets are assets of a long-term nature such as land, buildings,
machinery, furniture, and other equipment. The City has defined such assets as those
with an expected life in excess of one year and an acquisition cost in excess of $5,000.
FUND - An accounting entity that records all financial transactions for specific activities or
government functions. The fund types used by the City are: General, Special Revenue,
Capital Project, Debt Service, Enterprise, and Internal Service Funds.
FUND BALANCE - Fund Balance is the excess of current assets over current liabilities, and
represents the cumulative effect of revenues and other financing sources over
expenditures and other financing uses.
GENERAL FUND - The General Fund is the primary operating fund of the City. All revenues
that are not allocated by law or contractual agreement to a specific fund are accounted
for in the General Fund. With the exception of subvention or grant revenues restricted for
specific uses, General Fund resources can be utilized for any legitimate governmental
purpose.
GOAL - A goal is a statement of broad, direction, purpose, or intent.
GRANT -Contributions of cash or other assets from another governmental agency to be
used or expended for a specified purpose, activity, or facility.
HOUSING AUTHORITY FUND - These funds are used to account for the housing activities
of the Housing Authority which is to promote and provide quality affordable housing.
11
GLOSSARY OF BUDGET TERMS, CONTINUED
INFRASTRUCTURE - Fund contributions of cash or other assets from development
oriented applicants used for the City's basic system of its physical plant, (i.e., streets,
water drainage, public buildings and parks).
INVESTMENT REVENUE - Investment Revenue that is received as interest from the
investment of funds not immediately required to meet cash disbursement obligations.
LIABILITY - A claim on the assets of an entity.
LINE -ITEM BUDGET - A budget that lists detailed expenditure categories (salary,
materials, telephone service, travel, etc.) separately, along with the amount budgeted for
each specified category. The City uses a program rather than line -item budget, although
detail line -item accounts are maintained and recorded for financial reporting and control
purposes.
MUNICIPAL - In its broadest sense, municipal is an adjective which denotes the state and
all subordinate units of government. In a more restricted sense, an adjective which
denotes a city or village as opposed to other local governments.
OPERATING BUDGET - This is the portion of the budget that pertains to daily operations
providing governmental services.
PERSONNEL SERVICES - Costs associated with providing the staff necessary to provide
the desired levels of services. Included in personnel services are both salary and benefit
costs.
POLICY - A direction that must be followed to advance toward a goal. The direction can
be a course of action or a guiding principal.
PROGRAM - A grouping of activities organized to accomplish basic goals and objectives.
PROGRAM BUDGET - This is a budget that focuses upon the goals and objectives of an
agency or jurisdiction.
RESERVE - An Account used to indicate that a portion of a fund's balance is legally
restricted for a specific purpose and is, therefore, not available for general appropriation.
REVENUE - Funds that the government receives as income. It includes such items as tax
payments, fees from specific services, receipts from other governments, fines, forfeitures,
grants, shared revenues, and interest income.
12
GLOSSARY OF BUDGET TERMS, CONTINUED
RISK MANAGEMENT - This is an organized attempt to protect an organization's assets
against accidental loss in the most cost-effective manner.
SUPPLIES AND SERVICES - A general category used for clarifying expenditures for various
supplies and services which are normally used within a fiscal year.
13