FA Resolution 2003-02 RESOLUTION NO. FA 2003-02
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2003-2004
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each year the La Quinta Financing Authority adopts a Budget for
WHEREAS,
Revenues and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the Financing Authority desires to make provisions for a level of'
services commensurate with the needs of the City; and
WHEREAS, the Financing Authority has reviewed said budget and ha~ had
several public meetings to receive public input; and
WHEREAS, the Financing Authority has, after due deliberation/
and
consideration, made such amendments in the proposed budget as it con~iders
desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Financing Autl~ority
-- to adopt, as follows: I
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SECTION 1. The Fiscal Year 2003-2004 Budget which is on file with t~,e La
Quinta Financing Authority Secretary is hereby approved.
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SECTION 2. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cas~ or
unappropriated fund balance from one fund to another sh~ll
be
made only upon Financing Authority approval, i
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B. Transfers of budgeted apprOpriations between divisio~s or
capital projects shall be made only upon Financing Authority
approval.
Transfers of budgeted appropriations between accounts v~ithin
C.
a division or capital project may be made with the approV~al of
the Executive Director or his designee. ~
Resolution No. FA 2003-02
Budget FY 2003/2004
Adopted: July 22, 2003
Page 2
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 Financing Authority approved capital projects
and shall not exceed the approved project budget.
SECTION 3. The Executive Director shall render a monthly report to the
Financing Authority 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
Financing Authority held on this 22nd day of July, 2003, by the following vote:
AYES: Council Members Henderson, Osborne, Perkins, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON ADOLPH, (3~hairman
La Quinta Financing Authority
ATTEST:
JUICE'S. GREEK,'~rity secretary
La Quinta Financing Authority
{AUTHORITY SEAL)
Resolution No. FA 2003-02
-- Budget FY 2003/2004
Adopted: July 22, 2003
Page 3
APPROVED AS TO FORM'
~';~uthority Counsel
La Quinta Financing Authority