FA Resolution 2007-002
RESOLUTION NO. FA 2007-002
A RESOLUTION OF THE LA GUINliA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2007-2008
WHEREAS, each year the La Guinta Financing Authority adopts a Budget for
Revenues and Expenditures for the upcoming Fiscal Yelilr; 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 has 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 considers
desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Guinta Financing Authority to
adopt, as follows:
SECTION 1. The Fiscal Year 2007-2008 Budget which is on file with the La
Guinta Financing 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 Financing Authority approval.
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.
Resolution No. FA 2007-002
Budget FY 2007/2008
Adopted: July 17. 2007
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 by the La Guinta Financing Authority at a
regular meeting held on this 17th day of July, 2007, by the following vote:
AYES: Members Henderson, Kirk, Osborne, Sniff, Chairman Adolph
NOES: None
ABSENT: None
ABSTAIN: None
~J~
DON ADOL ,Chair an
La Guinta Financing Authority
ATTEST:
VERONICA J ONTECINO, CMC, Secretary
La Guinta Financing Authority
(SEAL)
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Resolution No. FA 2007-002
Budget FY 2007/2008
Adopted: July 17, 2007
Page 3
APPROVED AS TO FORM:
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