1998 07 07 FA La Quinta Financing Authority
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
July 7, 1998 - 2:00 PM
CALL TO ORDER Beginning Res. No. FA 98-03
a. Roll Call
PUBLIC COMMENT
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes of June 16, 1998
BUSINESS SESSION
1. CONSIDERATION OF ADOPTION OF RESOLUTION APPROVING THE FISCAL YEAR 1998-99
BUDGET.
A) RESOLUTION ACTION.
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CONSENT CALENDAR - None
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC HEARINGS - None
ADJOURNMENT
DECLARATION OF POSTING
I, SAUNDRA L. JUHOLA, Secretary of the La Quinta Financing Authority, do hereby declare that the
foregoing agenda for the La Quinta Financing Authority meeting of July 7, 1998 was posted on the
outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at the La Quinta
Chamber of Commerce on Friday, July 2, 1998.
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La Quinta Financing Authority
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Page 2
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE:
July 7, 1998 CONSENT CALENDAR:
ITEM TITLE: STUDY SESSION:
Consideration of Adopting Resolution PUBLIC HEARING:
approving the Fiscal Year 1998-99
La Quinta Financing Authority
RECOMMENDATION:
Adopt Resolution approving Fiscal Year 1998-99's Proposed La Quinta Financing
Authority Budget.
FISCAL IMPLICATIONS:
All Fiscal Year 1998-99 revenues, operational appropriations and capital project
funding are included in the Proposed Fiscal Year 1998-99 City of La Quinta Budget.
BACKGROUND AND OVERVIEW:
See City Council Staff Report
Thomas P. Genovese, Executive Director
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RESOLUTION NO. FA98-
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 1998-99
WHEREAS, 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
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 Quinta Financing Authority to
adopt, as follows:
SECTION 1. The Fiscal Year 1998-99 Budget which is on file with the La Quinta
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.
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.
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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 this , by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAI N:
JOHN J. PEEIA, Chairman
La Quinta Financing Authority
ATTEST:
SAUNDRA L. JUHOLA, Secretary
La Quinta Financing Authority
APPROVED AS TO FORM:
DAWN HONEYWELL, City Attorney
La Quinta Financing Authority