FA Resolution 1998-003 RESOLUTION NO. FA 98-03
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 La Quinta Financing Authority desires to make provisions for a
level of services commensurate with the needs of the City; and
WHEREAS, the La Quinta Financing Authority has reviewed said budget and has
had several public meetings to receive public input; and
WHEREAS, the La Quinta 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.
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 7th day of July, 1998 by the following
vote:
AYES: Members Adolph, Henderson, Perkins, Sniff, Chairman Pe~a
NOES: None
ABSENT: None
ABSTAIN: None
JO.~PE~A,~ir~man
La Quinta Financing Authority
ATTEST:
~U~l~RA~L. jU~OLA,~~Secretary
La Quinta Financing Authority
APPROVED AS TO FORM:
DAWN C. HONEYWELl', Attorney
La Quinta Financing Authority