FA Resolution 2011-004RESOLUTION NO. FA 2011-004
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2011/2012
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 2011/2012 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.
Resolution No. FA 2011 -004
Approving the FY 2011/2012 Budget
Adopted: July 5, 2011
Page 2
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
Financing Authority held on this 5t' day of July, 2011, by the following vote:
AYES: Authority Members Evans, Franklin, Henderson, Sniff, Chair Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON ADOL H, Ch ' person
La Quinta Financing Authority
A
)NTECINO, CMC, Secretary
ing Authority
W.
APPROVED AS TO FORM:
JOHN A. RAMIREZ, Assistant Authority Counsel
La Quinta Financing Authority
Resolution No. FA 2011 -004
Approving the FY 2011(2012 Budget
Adopted: July 5, 2011
Page 2
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
Financing Authority held on this 5 day of July, 2011, by the following vote:
AYES: Authority Members Evans, Franklin, Henderson, Sniff, Chair Adolph
[1
ABSENT: None
ABSTAIN: None
Le—
DON ADOLPH, Ch ' person
La Quinta Financing Authority
VERONICV. MONTECINO, CMC, Secretary
La Quintd'Financing Authority
(AUTHORITY SEAL)
APP VED AS TO OR
0 R stant
La ui to F ancing hority
Authority Counsel
0