2010 10 19 FAF
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FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
TUESDAY, OCTOBER 19, 2010 — 4:00 P.M.
Beginning Resolution No. FA 2010-003
CALL TO ORDER
Roll Call:
Board Members: Evans, Franklin, Henderson, Sniff, and Chairman Adolph
PUBLIC COMMENT
At this time members of the public may address the Financing Authority on any matter not
listed on the agenda. Please complete a "request to speak" form and limit your comments
to three minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1 . APPROVAL OF MINUTES OF SEPTEMBER 21, 2010.
CONSENT CALENDAR
NOTE: Consent Calendar items are considered to be routine in nature and will be approved
by one motion.
1. RECEIVE AND FILE TREASURER'S REPORT DATED AUGUST 31, 2010.
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Financing Authority Agenda 1 October 19, 2010
2. RECEIVE AND FILE REVENUES AND EXPENDITURES REPORT DATED
AUGUST 31, 2010, AND INVESTMENT SUMMARY REPORT FOR THE
QUARTER ENDING SEPTEMBER 30, 2010.
3. APPROVAL OF THE LA QUINTA FINANCING AUTHORITY FINANCIAL
STATEMENTS CONTAINED WITHIN THE COMPREHENSIVE ANNUAL
FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2010.
BUSINESS SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS —
ADJOURNMENT
The next regular meeting of the Financing Authority will be held on November 16,
2010, at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico,
La Quinta, CA 92253.
DECLARATION OF POSTING
I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that
the foregoing agenda for the La Quinta Financing Authority meeting of October 19,
2010, was posted on the outside entry to the Council Chamber at 78-495 Calle
Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630
Highway 111, on October 15, 2010.
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15, 2010
TECINO, City Clerk
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Public Notice
Any writings or documents provided to a majority of the Financing Authority regarding any
item on this agenda will be made available for public inspection at the City Clerk counter at
City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal
business hours.
a Ong
Financing Authority Agenda 2 October 19, 2010
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AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: October 19, 2010 BUSINESS SESSION:
ITEM TITLE: CONSENT CALENDAR:
Receive and File Transmittal of Treasurer's Report
as of August 31, 2010 STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and File the Treasurer's Report dated August 31, 2010.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
003
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EMS°F�9 AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: October 19, 2010 BUSINESS SESSION:
ITEM TITLE: Receive and File Transmittal of Revenue
and Expenditure Report dated August 31, 2010 and
Investment Summary Report for the Quarter Ending
September 30, 2010
RECOMMENDATION:
Receive and File.
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
CONSENT CALENDAR: C --'
STUDY SESSION:
PUBLIC HEARING: T
Receive and File Transmittal of the August 31, 2010 Statement of Revenue and
Expenditures for the La Quinta Financing Authority and Investment Summary
Report for the Quarter Ending September 30, 2010.
Respectfully submitted,
7�
John M. Falconer, Finance Director
004
Approved for submission by:
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Thomas P. Genove"se, Executive Director
Attachments: 1. Revenue and Expenditures Report, August 31, 2010
2. Investment Summary Report for the Quarter Ending September
30, 2010
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F11 1 / %jl IIYILIY 1 1
LA OUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Non Allocated Interest
TOTAL CIP REVENUE
TOTAL FINANCING AUTHORITY
07101120110 - 08/3112010
ADJUSTED
BUDGET RECEIVED
REMAINING %
BUDGET RECEIVED
15,800.00
0.00
15,800.00
0.000%
0.00
0.00
0.00
0.000%
672,525.00
0.00
672,525.00
0.000%
5,915,131.00
0.00
5,915,131.00
0.000%
6,603,456.00
0.00
6,603,456.00
0.000%
0.00 0.00 0.00 0.000%
0.00 0.00 0.00 0.000%
0.00 0.00 0.00 0.000%
6,603,456.00 0.00 6,603,456.00 0.000%
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LA DUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
ADJUSTED W31110 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL -1996
BOND PRINCIPAL - 20G4
BOND INTEREST - 1996
BOND INTEREST - 2004
TRANSFER OUT
CAPITAL IMPROVEMENT EXPENDITURES
BOND ISSUANCE COSTS
TRANSFER OUT
12,80000
2,85000
0,00
9.950.00
420,000.00
0.00
0.00
420,00000
1740,000.00
0.00
0.00
1740,XX)00
252,525,00
0.00
0,00
252,525.00
4,175,131.00
0,00
0.00
4, 175,13100
0.00
0.00
0,00
0.00
TOTAL DEBT SERVICE
0.00 0.00 D00 0,00
Coo 0.00 0.00 0.00
TOTAL CAPITAL IMPROVEMENT
TOTAL FINANCING AUTHORITY
001
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COUNCIL/RDA MEETING DATE: October 19, 2010
ITEM TITLE: Approval of the La Quinta Financing
Authority Financial Statements contained within the
Comprehensive Annual Financial Report for the Year
Ended June 30, 2010
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION: _
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve, receive and file the La Quinta Financing Authority Financial
Statements contained within the Comprehensive Annual Financial Report
(CAFR) for the Year Ended June 30, 2010.
FISCAL IMPLICATIONS:
The 1996 Civic Center refunding bond issue and the 2004 Financing
Authority bond issue principal and interest bond payments are accounted for
in the CAFR Debt Service Funds. The 2004 Financing Authority bond issue
also has available bond proceeds which are accounted for as a Capital
Project Fund in the CAFR.
BACKGROUND AND OVERVIEW:
The financial activities of the La Quinta Financing Authority are contained in
the City CAFR and are reported as Debt Service and Capital Project Fund
types.
"' 009
FINDINGS AND ALTERNATIVES:
The alternatives available to the La Quinta Financing Authority include:
1. Approve, receive and file the La Quinta Financing Authority Financial
Statements contained within the Comprehensive Annual Financial
Report for the Year Ended June 30, 2010, or
2. Do not approve, receive and file the La Quinta Financing Authority
Financial Statements contained within the Comprehensive Annual
Financial Report for the Year Ended June 30, 2010; or
3. Provide staff with alternative direction.
Respectfully submitted,
John M. Falconer, Finance Director
Approved for submission by:
�homas P. Genovese, xecutive Director
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