2013 09 17 FAOF
FINANCING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
REGULAR MEETING ON TUESDAY, SEPTEMBER 17, 2013 AT 4:00 P.M.
CALL TO ORDER
ROLL CALL:
Authority Members: Evans, Franklin, Henderson, Osborne, Chairperson 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. The Financing Authority values your comments; however in accordance
with State law, no action shall be taken on any item not appearing on the agenda unless it
is an emergency item authorized by GC 54954.2(b).
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
PAGE
1. MINUTES OF JULY 16, 2013 3
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
TREASURER'S REPORT DATED JUNE 30, 2013 5
2. REVENUE AND EXPENDITURES REPORT DATED JUNE 30, 2013 7
BUSINESS SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
FINANCING AUTHORITY AGENDA 1 SEPTEMBER 17, 2013
1
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Financing Authority will be held on October 15,
2013 at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico,
La Quinta, CA 92253.
DECLARATION OF POSTING
I, Susan Maysels, Authority Secretary of th(
hereby declare that the foregoing agenda fo
meeting was posted near the entrance to the
Tampico and on the bulletin boards at the La
Avenida Bermudas and at the Stater Brothers
on September 13, 2013.
DATED: September 13, 2013
SUSAN MAYSELS, Authority Secretary
La Quinta Financing Authority
La Quinta Financing Authority, do
the La Quinta Financing Authority
Council Chambers at 78-495 Calle
Quinta Cove Post Office at 51-321
Supermarket 78-630 Highway 1 1 1,
Public Notices
• 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.
FINANCING AUTHORITY AGENDA 2 SEPTEMBER 17, 2013
2
FINANCING AUTHORITY
MINUTES
TUESDAY, JULY 16, 2013
A regular meeting of the La Quinta Financing Authority was called to order at 5:45
p.m. by Chairperson Adolph.
PRESENT: Authority Members Evans, Franklin, Henderson, Osborne, Chair Adolph
ABSENT: None
PUBLIC COMMENT - None
CONFIRMATION OF AGENDA - Confirmed
APPROVAL OF MINUTES
MOTION - A motion was made and seconded by Authority Members Franklin/
Evans to approve the minutes of July 16, 2013 as submitted. Motion passed
unanimously.
CONSENT CALENDAR
1. TREASURER'S REPORT DATED MAY 31, 2013
2. REVENUE AND EXPENDITURE REPORT DATED MAY 31, 2013 AND
INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING JUNE 30,
2013
MOTION - A motion was made and seconded by Authority Members Franklin/
Evans to approve all Consent Calendar items as recommended. Motion passed
unanimously.
BUSINESS SESSION - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority
Members Evans/Franklin to adjourn at 5:46 p.m. Motion passed unanimously.
Respectfully submitted,
SUSAN MAYSELS
Authority Secretary
FINANCING AUTHORITY MINUTES
JULY 16, 2013
3
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AGENDA CATEGORY:
CITY / SA / HA / FA MEETING DATE: September 17, 2013 BUSINESS SESSION:
ITEM TITLE: TREASURER'S REPORT DATED JUNE 30, CONSENT CALENDAR:
2013
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
Per City Investment Policy, these items are presented on a monthly basis reflecting
the monthly Cash Balances, Investment Activities and the Portfolio Performance,
which is presented in the City Council's Consent Item Staff Report.
ALTERNATIVES:
None.
Report prepared by: Robbeyn Bird, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
5
OF Tt��
CITY / SA / HA / FA MEETING DATE: September 17, 2013 AGENDA CATEGORY:
BUSINESS SESSION:
ITEM TITLE: REVENUE AND EXPENDITURE REPORTS
DATED JUNE 30, 2013 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
EXECUTIVE SUMMARY:
• Year-to-date revenues and expenditures of the La Quinta Financing Authority
are submitted monthly.
• Revenues have exceeded budget projections; expenditures reflect interest
and principal on bonds.
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
Revenue and expenditure reports are submitted to the La Quinta Financing
Authority monthly to review, receive, and file. Attached are the transmittal of the
June 30, 2013 Statements of Revenues (Attachment 1) and Expenditures
(Attachment 2) for the Financing Authority. Actual revenues received and
expenditures spent are $678,533 and $678,833, respectively. The revenue
amounts have exceeded the 2012/13 budget projections. The expenditures
represent interest and principal of the 1996 bonds. The $300 (expenditures
exceeding revenue) will be funded by reserves in the Financing Authority Fund.
ALTERNATIVES:
None.
Report prepared by: Robbeyn Bird, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachments: 1 . Revenue Reports for June 30, 2013
2. Expenditure Reports for June 30, 2013
8
ATTACHMENT
LA QUINTA FINANCING AUTHORITY
07/0112012.06/30/2013
REVENUE DETAIL
ADJUSTED
REMAINING
%
BUDGET
RECEIVED
BUDGET
RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
5,000.00
5,403.00
(403.00)
108.060%
Non Allocated Interest
0.00
0.00
0.00
0.000%
Rental Income
673,130.00
673,130.00
0.00
100.000%
Transfer In
DEBT SERVICE
0.00
0.00
0.00
0.000%TOTAL
078,130.00
678,533,00
(403,00)
1D0.060%
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
0.00
0.00
0.00
0.000%
Non Allocated Interest
O.Op
0.00
0.00
p.0O0%
TOTAL CIP REVENUE
0.00
0.00
p,p0
0000%
TOTAL FINANCING AUTHORITY 678,130.06 678,533.00 (403,00) 100 060%
LA QUINTA FINANCING AUTHORITY
ADJUSTED
6/30/2013
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
DEBT SERVICE EXPENDITURES
SERVICES
5,000.00
8,703.00
000
(703 00)
BOND PRINCIPAL - 1990
470,000.00
470,000.00
000
0.00
BOND INTEREST -1996
203.130.00
203,130.00
0.00
0.00
TRANSFER OUT
0.00
0.00
0.00
0.00
TOTAL DEBT SERVICE
678,130.00
678,833.00
0.00
(703.00)
CAPITAL IMPROVEMENT EXPENDITURES
BOND ISSUANCE COSTS
0.00
0.00
0,00
0.00
TRANSFER OUT
0,00
0:00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
0.00
0.00
0.00
0.00
TOTAL FINANCING AUTHORITY 878,130.00 878,833.00 0,00 (703.00)
10