FA Resolution 1995-02 RESOLUTION NO. FA 95-02
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 95-96
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 1995-96 Budget which is on file with the City Clerk,
is hereby approved.
SECTION 2. Continuing Appropriations which remain unspent and were authorized
by Authority in Fiscal year 1994-95, are approved in the amount not to exceed $4,800.
SECTION 3. Encumbrances for Fiscal Year 1994-95 for committed appropriations
are approved in the Fiscal Year 1995-96 Budget in an amount not to exceed $151,185.
SECTION 4. 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 City
Authority approval.
B. Transfers of budgeted appropriations between divisions or capital
projects shall be made only upon 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
Authority approved capital projects and shall not exceed the approved
project budget.
SECTION 5. The Executive Director shall render a monthly report to the City
Authority on the status of City operations as relates to the approved budget and any
amendments thereto.
PASSED, APPROVED AND ADOPTED this 18th day of July, 1995, by the following
vote:
AYES: Board Members Bangerter, Cathcart, Perkins, Sniff, Chairman Pe~a
NOES: None
ABSENT: None
ABSTAIN: None ~
JOHNJ.~ER'A~man
La Quinta Financing Authority
ATTEST:
A U N~ ~ S~ry La Quinta Financing Authority
APPROVED AS TO FORM:
DAWN HONEYWELt.., City Attorney
La Quinta Financing Authority