FA Resolution 2009-002RESOLUTION NO. FA 2009 - 002
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2009/2010
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 2009/2010 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 unapproFriated fund
balance from one fund to another shall be made only upon Finahcing 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.
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.
Resolution No. FA 2009-002
FY 2009/2010 Budget Adoption
Adopted: July 7, 2009
Page 2
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
Financing Authority held on this 7`" day of July 2009, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN
Members Evans, Franklin, Henderson, Sniff, Chairperson Adolph
None
None
None
DON ADOL H, C ~ person
La Quinta Financing Authority
ATTEST:
La-Quinta
(SEAL)
J. NTECINO, CMC, Secretary
hancin;g,Authority
APPROVED AS TO FORM:
. KATHERINE SON, Authority Counsel
La Quinta Financing Authority