FA Resolution 2004-004
r- RESOLUTION NO. FA 2004-04
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. A RESOLUTION OF THE LA QUINT A FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 2004-2005
WHIEREAS, each year the La Quinta Financing Authority adopts a Budget for
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
WH¡EREAS, the' Financing Authority has reviewed said budget and has had
several public meetings to rec~ive public input; and
WHEREAS, the Financing 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 Financing Authority
~ to adopt, as follows:
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SECTION 1. The Fiscal Year 2004-2005 Budget which is on file with the La
Quinta Financing Authority Secretary is hereby approved.
SECTION 2. Continuing Appropriations which remain unspent and were
au~horized by Council in Fiscal Year 2003-2004 are approved in the Fiscal Year
2004/2005 Budget in an amount not to exceed $55,000. (Attachment 1)
SECTION 3. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cash or
unappropriated fund ba.lance from one fund to another shall be
made only upon Financing Authority approval.
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B. Transfers of budgeted appropriations between divisions or
capital projects shall be made .only upon Financing 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.
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Resolution No. FA 2004-04
Budget - FY 2004/2005
Adopted: July 20, 2004
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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 4. 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 by the La Quinta Financing Authority at
a regular meeting held on this 20th day of July, 2004, by the following vote:
AYES: Members Henderson, Osborne, Perkins, Sniff, Chairman Adolph
NOES: None
ABSENT: None
ABSTAIN: None
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ATTEST: .
(Seal)
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Resolution No. FA 2004-04
r-- Budget - FY 2004/2005
¡ Adopted: July 20, 2004
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APPROVED AS TO FORM:
M. KA THER E JENSON, uthority Counsel
La Quinta Financing Authority
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