FA Resolution 2014-004RESOLUTION NO. FA 2014-004
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2014/2015
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 2014/2015 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.
. f.
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
Resolution No. FA 2014-004
Budget Approval FY 2014/2015
Adopted: June 17, 2014
Page 2
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 at a regular meeting of the La Quinta
Financing Authority held on this 17th day of June, 2014, by the following vote:
AYES: Authority Members Evans, Franklin, Henderson, Osborne, Chair Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON ADO H, Chai an
La Quinta Financing Authority
ATTEST:
5"t4,— .
SUSAN MAYSELS, Se etary
La Quinta Financing Authority
(AUT'hi0RITY SEAL)
APPk-OVER AS TO.FORM:
M!KATHERINE JENSQ N%Authority Counsel
La Quinta Financing A ority