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2018 05 15 CC CITY COUNCIL AGENDA 1 MAY 15, 2018 CITY COUNCIL AGENDA CITY HALL COUNCIL CHAMBERS 78495 Calle Tampico, La Quinta REGULAR MEETING ON TUESDAY, MAY 15, 2018 3:00 P.M. CLOSED SESSION | 4:00 P.M. OPEN SESSION CALL TO ORDER ROLL CALL: Councilmembers: Fitzpatrick, Peña, Radi, Sanchez, Mayor Evans PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA At this time, members of the public may address the City Council on any matter not listed on the agenda. Please complete a "Request to Speak" form and limit your comments to three minutes. The City Council 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 CLOSED SESSION 1. CONFERENCE WITH REAL PROPERTY NEGOTIATORS PURSUANT TO GOVERNMENT CODE SECTION 54956.8 FOR PROPERTY LOCATED ON HIGHWAY 111 EAST OF DUNE PALMS (APN 600-020-053) CITY NEGOTIATOR: FRANK SPEVACEK, CITY MANAGER NEGOTIATING PARTY: SUNRIDGE HOTEL GROUP UNDER NEGOTIATION: PRICE AND TERMS OF PAYMENT AND/OR DISPOSITION OF THE PROPERTY IDENTIFIED 2. CONFERENCE WITH LABOR NEGOTIATORS PURSUANT TO GOVERNMENT CODE SECTION 54957.6; CITY DESIGNATED REPRESENTATIVE: CHRIS ESCOBEDO, COMMUNITY RESOURCES DIRECTOR; AND EMPLOYEE ORGANIZATION: LA QUINTA CITY EMPLOYEES ASSOCIATION City Council agendas and staff reports are available on the City’s web page: www.LaQuintaCA.gov CITY COUNCIL AGENDA 2 MAY 15, 2018 3. CONFERENCE WITH LEGAL COUNSEL – ANTICIPATED LITIGATION. SIGNIFICANT EXPOSURE TO LITIGATION PURSUANT TO PARAGRAPH (2) OR (3) OF SUBDIVISION (d) OF GOVERNMENT CODE SECTION 54956.9 (NUMBER OF POTENTIAL CASES: 1) RECESS TO CLOSED SESSION RECONVENE AT 4:00 P.M. REPORT ON ACTION(S) TAKEN IN CLOSED SESSION PLEDGE OF ALLEGIANCE PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA At this time, members of the public may address the City Council on any matter not listed on the agenda. Please complete a "Request to Speak" form and limit your comments to three minutes. The City Council 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). ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS 1. DESERT HEALTHCARE DISTRICT/FOUNDATION – PROPOSED EXPANSION PRESENTATION BY BOARD PRESIDENT LES ZENDEL 2. CERTIFICATE OF APPRECIATION TO THE LA QUINTA HIGH SCHOOL FOR ITS PARTICIPATION IN THE CITY’S TEEN CERT PROGRAM CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. PAGE 1. APPROVE MINUTES DATED MAY 1, 2018 7 2. RECEIVE AND FILE THIRD QUARTER 2017/18 TREASURY REPORTS FOR JANUARY, FEBRUARY, AND MARCH 2018 15 3. ACCEPT ON-SITE IMPROVEMENTS ASSOCIATED WITH THE LA QUINTA RESORT AND SPA (PARCEL MAP NO. 29724) LOCATED ON AVENIDA OBREGON SOUTH OF AVENIDA FERNANDO 51 4. ADOPT A RESOLUTION REQUESTING COUNTY OF RIVERSIDE PLACE COLLECTION COSTS FOR SOLID WASTE HANDLING SERVICES AT SINGLE- FAMILY DWELLINGS ON TAX ROLLS [RESOLUTION NO. 2018-021] 55 5. AUTHORIZE OVERNIGHT TRAVEL FOR FACILITIES MANAGEMENT ASSISTANT TO ATTEND THE AMERICANS FOR THE ARTS ANNUAL CONVENTION IN DENVER, COLORADO, JUNE 13-17 69 CITY COUNCIL AGENDA 3 MAY 15, 2018 6.APPROVE DEMAND REGISTERS DATED APRIL 27 AND MAY 4, 2018 71 7. ACCEPT CITY HALL MISCELLANEOUS INTERIOR AMERICANS WITH DISABILITIES ACT IMPROVEMENTS LOCATED AT 78495 CALLE TAMPICO (PROJECT NO. 2017-03) 89 8.APPROVE SECOND AMENDMENT TO EMPLOYMENT AGREEMENT WITH CITY MANAGER 95 BUSINESS SESSION 1. ADOPT A RESOLUTION TO APPROVE THE FISCAL YEAR 2018/19 INVESTMENT POLICY [RESOLUTION NO. 2018-022] 117 2. ADOPT A RESOLUTION TO APPROVE THE CITY’S GENERAL FUND BALANCE AND RESERVES POLICY [RESOLUTION NO. 2018-023] 195 3. APPROVE SILVERROCK RESORT 2018/19 ANNUAL PLAN 225 4.APPROVE FIRST AMENDMENT TO GOLF COURSE MANAGEMENT AGREEMENT WITH LANDMARK GOLF MANAGEMENT LLP FOR SILVERROCK GOLF COURSE MANAGEMENT SERVICES 253 5. APPROVE AGREEMENT FOR CONTRACT SERVICES WITH NAI CONSULTING, INC. FOR PROJECT MANAGEMENT AND CONTRACT ADMINISTRATIVE SUPPORT SERVICES 257 6. APPROVE THIRD AMENDMENT AND RESTATEMENT OF JOINT POWERS AGREEMENT OF THE COACHELLA VALLEY ASSOCIATION OF GOVERNMENTS 293 STUDY SESSION 1.DISCUSS PROPOSED NON-BEDROOM CONVERSION LIMITATIONS AND TITLE 9 AND AMENDMENTS TO THE SHORT-TERM VACATION RENTAL ORDINANCE FOR TITLE 3.25 321 2. FY 2018/19 PRELIMINARY PROPOSED BUDGET 327 CITY COUNCIL AGENDA 4 MAY 15, 2018 PUBLIC HEARINGS – (after 5:00 p.m.) For all Public Hearings on the agenda, a completed “Request to Speak” form must be filed with the City Clerk prior to consideration of that item. A person may submit written comments to City Council before a public hearing or appear in support or opposition to the approval of a project(s). If you challenge a project(s) in court, you may be limited to raising only those issues you or someone else raised at the public hearing or in written correspondence delivered to the City at, or prior to the public hearing. 1. ADOPT ORDINANCE NO. 570 EXTENDING FOR 120 DAYS THE MORATORIUM ON THE APPROVAL OF ANY LAND USE ENTITLEMENT, INCLUDING SUBDIVISIONS, USE PERMITS, VARIANCES, BUILDING PERMITS, OR ANY OTHER APPLICABLE ENTITLEMENT, FOR ADDITIONAL BEDROOMS BY CONVERTING NON-BEDROOM SPACES AND AREAS INTO BEDROOMS IN SPECIFIED RESIDENTIAL ZONES IN THE CITY OF LA QUINTA, AND FINDING OF EXEMPTION PURSUANT TO CEQA GUIDELINES SECTIONS 15060(c)(2) AND 15061(b)(3) UNDER THE CALIFORNIA ENVIRONMENTAL QUALITY ACT 395 2. ADOPT A RESOLUTION APPROVING FISCAL YEAR 2018/19 THROUGH 2022/23 CAPITAL IMPROVEMENT PROGRAM [RESOLUTION NO. 2018-024] 411 DEPARTMENTAL REPORTS 1. CITY MANAGER 2. CITY ATTORNEY – RECOMMENDATION FOR REMAND AND NEW PUBLIC HEARING AT PLANNING COMMISION 423 3. CITY CLERK 4. COMMUNITY RESOURCES 5. DESIGN AND DEVELOPMENT – APRIL 2018 MONTHLY REPORT 425 6. FACILITIES – APRIL 2018 MONTHLY REPORT 429 7. FINANCE 8. FIRE SERVICES 9. POLICE SERVICES MAYOR’S AND COUNCIL MEMBERS’ ITEMS CITY COUNCIL AGENDA 5 MAY 15, 2018 REPORTS AND INFORMATIONAL ITEMS 1. CVAG COACHELLA VALLEY CONSERVATION COMMISSION (Evans) 2. CVAG ENERGY AND ENVIRONMENTAL RESOURCES COMMITTEE (Evans) 3. CVAG EXECUTIVE COMMITTEE (Evans) 4. GREATER PALM SPRINGS CONVENTION AND VISITORS BUREAU (Evans) 5. LEAGUE OF CALIFORNIA CITIES DELEGATE (Evans) 6. COACHELLA VALLEY WATER DISTRICT JOINT POLICY COMMITTEE (Evans) 7. SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS (Evans) 8. ECONOMIC DEVELOPMENT SUBCOMMITTEE (Evans & Radi) 9. COACHELLA VALLEY MOUNTAINS CONSERVANCY (Fitzpatrick) 10. DESERT RECREATION DISTRICT COMMITTEE (Fitzpatrick and Radi) 11. COACHELLA VALLEY UNIFIED SCHOOL DISTRICT COMMITTEE (Fitzpatrick and Peña) 12. RIVERSIDE COUNTY TRANSPORTATION COMMISSION (Fitzpatrick) 13. SILVERROCK EVENT SITE AD HOC COMMITTEE (Fitzpatrick) 14. CANNABIS AD HOC COMMITTEE (Peña and Sanchez) 15. CVAG PUBLIC SAFETY COMMITTEE (Peña) 16. EAST VALLEY COALITION (Peña) 17. CVAG VALLEY-WIDE HOMELESSNESS COMMITTEE (Peña) 18. JACQUELINE COCHRAN REGIONAL AIRPORT AUTHORITY (Peña) 19. LEAGUE OF CALIFORNIA CITIES – PUBLIC SAFETY POLICY COMMITTEE (Peña) 20. COACHELLA VALLEY ECONOMIC PARTNERSHIP (Radi) 21. CVAG TRANSPORTATION COMMITTEE (Radi) 22. SUNLINE TRANSIT AGENCY (Radi) 23. CITYWIDE SECURITY CAMERAS AD HOC COMMITTEE (Radi) 24. DESERT SANDS UNIFIED SCHOOL DISTRICT COMMITTEE (Radi and Sanchez) 25. ANIMAL CAMPUS COMMISSION (Sanchez) 26. CHAMBER OF COMMERCE INFO EXCHANGE COMMITTEE (Sanchez) 27. IID ENERGY CONSUMERS’ ADVISORY COMMITTEE (Sanchez) 28. LEAGUE OF CALIFORNIA CITIES/TRANSPORTATION & LABOR POLICY (Sanchez) 29. HOUSING COMMISSION MINUTES DATED MARCH 14, 2018 443 ADJOURNMENT ********************************* The next regular meeting of the City Council will be held on June 5, 2018, at 4:00 p.m. at the City Hall Council Chambers, 78495 Calle Tampico, La Quinta, CA 92253. CITY COUNCIL AGENDA 6 MAY 15, 2018 DECLARATION OF POSTING I, Monika Radeva, Deputy City Clerk, of the City of La Quinta, do hereby declare that the foregoing Agenda for the La Quinta City Council meeting was posted on the City’s website, near the entrance to the Council Chambers at 78495 Calle Tampico, and the bulletin boards at the Stater Brothers Supermarket at 78630 Highway 111, and the La Quinta Cove Post Office at 51321 Avenida Bermudas, on May 11, 2018. DATED: May 11, 2018 MONIKA RADEVA, Deputy City Clerk City of La Quinta, California Public Notices  The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk’s office at (760) 777-7103, twenty-four (24) hours in advance of the meeting and accommodations will be made.  If special electronic equipment is needed to make presentations to the City Council, arrangements should be made in advance by contacting the City Clerk’s office at (760) 777- 7103. A one (1) week notice is required.  If background material is to be presented to the Councilmembers during a City Council meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting.  Any writings or documents provided to a majority of the City Council regarding any item(s) on this agenda will be made available for public inspection at the Community Development counter at City Hall located at 78495 Calle Tampico, La Quinta, California, 92253, during normal business hours. CITY COUNCIL MINUTES Page 1 of 8 MAY 01, 2018 CITY COUNCIL MINUTES TUESDAY, MAY 1, 2018 CALL TO ORDER A regular meeting of the La Quinta City Council was called to order at 3:00 p.m. by Mayor Evans. PRESENT: Councilmembers Fitzpatrick, Peña, Radi, Mayor Evans ABSENT: Councilmember Sanchez MOTION – A motion was made and seconded by Councilmembers Radi/Fitzpatrick to excuse Councilmember Sanchez delay in participating in the May 1, 2018, Council meeting. Motion passed: ayes 4, noes 0, abstain 0, absent 1 (Sanchez). PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None CONFIRMATION OF AGENDA City Manager Spevacek said Riverside County Sherriff Department Lieutenant Manning will introduce Police Chief Captain Misty Reynolds under the Announcements, Presentations, and Written Communications section of the agenda. Councilmember Peña said he will recuse himself from discussion and vote on Closed Session Item No. 1 due to a potential conflict of interest stemming from the proximity of the project to his residence. Council concurred. CLOSED SESSION 1.CONFERENCE WITH REAL PROPERTY NEGOTIATORS PURSUANT TO GOVERNMENT CODE SECTION 54956.8 FOR REAL PROPERTY LOCATED ON AVENDIA MONTEZUMA (APNs 773-072-028 and 773-077-015) AND AVENIDA VILLA (APN 773-076-018) CITY NEGOTIATOR: FRANK J. SPEVACEK, CITY MANAGER PROPERTY OWNER: CITY OF LA QUINTA UNDER NEGOTIATION: PRICE AND TERMS OF PAYMENT AND/OR DISPOSTION OF THE PROPERTY IDENTIFIED COUNCILMEMBER SANCHEZ JOINED THE MEETING AT 3:03 PM CONSENT CALENDAR ITEM NO. 1 7 CITY COUNCIL MINUTES Page 2 of 8 MAY 01, 2018 2.PERFORMANCE EVALUATION PURSUANT TO GOVERNMENT CODE SECTION 54957, COUNCIL APPOINTED POSITION – CITY ATTORNEY 3. ANNUAL PUBLIC EMPLOYEE PERFORMANCE EVALUATION PURSUANT TO GOVERNMENT CODE SECTION 54957, COUNCIL APPOINTED POSITION - CITY MANAGER COUNCIL RECESSED THE OPEN SESSION PORTION OF THE MEETING AND MOVED INTO CLOSED SESSION AT 3:03 P.M. MAYOR EVANS RECONVENED THE OPEN SESSION PORTION OF THE CITY COUNCIL MEETING AT 4:02 P.M. WITH ALL MEMBERS PRESENT REPORT ON ACTION(S) TAKEN IN CLOSED SESSION: City Attorney Ihrke reported the following pursuant to Government Code Section 54957.1 (Brown Act): 1)Councilmember Peña recused himself from discussion and vote on Closed Session Item No. 1 due to a potential conflict of interest stemming from the proximity of the project to his residence. 2)Closed Session Item No. 2 was completed and Council retains City Attorney Ihrke as the City’s legal counsel. 3)Closed Session Item No. 3 will be considered by Council after the end of the open session portion of the meeting. PLEDGE OF ALLEGIANCE Councilmember Sanchez led the audience in the pledge of allegiance. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS 1.INTRODUCE RIVERSIDE COUNTY SHERRIF’S DEPARTMENT POLICE CHIEF CAPTAIN MISTY REYNOLDS Riverside County Sherriff Department Lieutenant Manning introduced Police Chief Captain Misty Reynolds who provided a brief overview of her experience and qualifications. 2.moved from Departmental Report Item No. 4 >>> 2018 TYLER PUBLIC SECTOR EXCELLENCE AWARD WINNER Finance Director Campos said Account Blondell was the winner of the 2018 Tyler Public Sector Excellence Award for fully integrating and using the project module of the Tyler financial software. Mrs. Blondell was selected by Tyler Technologies to 8 CITY COUNCIL MINUTES Page 3 of 8 MAY 01, 2018 attend their annual conference to share and showcase the City’s successful implementation. Mrs. Blondell provided a brief overview of her experience. CONSENT CALENDAR 1. APPROVE MINUTES DATED APRIL 17, 2018 2.APPROVE PLANS, SPECIFICATIONS, ENGINEER’S ESTIMATE, AND ADVERTISE FOR BID THE LA QUINTA HIGH SCHOOL AMERICANS WITH DISABILITIES ACT IMPROVEMENTS PROJECT LOCATED ON THE WEST SIDE OF ADAMS STREET AT BLACKHAWK WAY (PROJECT NO. 2017-05) 3. APPROVE PLANS, SPECIFICATIONS, ENGINEER’S ESTIMATE, AND ADVERTISE FOR BID THE FISCAL YEAR 2017/18 PAVEMENT MANAGEMENT PLAN IMPROVEMENTS LOCATED IN VARIOUS LOCATIONS BETWEEN HIGHWAY 111 AND AVENUE 50 (PROJECT NO. 2012-07G) 4. ADOPT A RESOLUTION TO APPROVE THE CITY’S PARTICIPATION IN THE COUNTY OF RIVERSIDE MORTGAGE CREDIT CERTIFICATE PROGRAM [RESOLUTION NO. 2018-018] 5. ACCEPT FRITZ BURNS SKATE PARK DESIGN/BUILD (PROJECT 2017-16) 6. APPROVE DEMAND REGISTERS DATED APRIL 13 AND APRIL 20, 2018 7.ADOPT A RESOLUTION TO AUTHORIZE SUBMITTING AN APPLICATION WITH THE DEPARTMENT OF HOMELAND SECURITY AND FEDERAL EMERGENCY MANAGEMENT ADMINISTRATION FOR THE EMERGENCY MANAGEMENT PERFORMANCE GRANT PROGRAM [RESOLUTION NO. 2018-019] 8.APPROVE WORK AWARDED TO SOUTH VALLEY ELECTRIC AND AUTHORIZE TWENTY THOUSAND DOLLARS IN FUNDS CONTINGENT ON FUTURE PROJECTS 9. APPROVE AMENDMENT NO. 3 WITH CONVERGEONE FOR MICROSOFT OFFICE 365 IMPLEMENTATION SERVICES 10. APPROVE WORK AWARDED TO VERMILLION ENVIRONMENTAL AND AUTHORIZE TWENTY THOUSAND DOLLARS IN FUNDS CONTINGENT ON FUTURE APPLICATIONS MOTION – A motion was made and seconded by Councilmembers Radi/Peña to approve the Consent Calendar as recommended, with Item Nos. 4 and 7 adopting Resolution Nos. 2018-018 and 2018-019, respectively. Motion passed unanimously. 9 CITY COUNCIL MINUTES Page 4 of 8 MAY 01, 2018 BUSINESS SESSION 1.APPROVE AMENDMENT NO. 1. TO CONTRACT SERVICES AGREEMENT WITH SUPERION, LLC FOR TRAKiT SOFTWARE HOSTING, MAINTENANCE, AND ENHANCEMENT SERVICES Council waived presentation of the staff report. Mayor Evans clarified the proposed amendment would amend Exhibit A – Scope of Services and Exhibit C – Project Cost Summary. MOTION – A motion was made and seconded by Councilmembers Fitzpatrick/Peña to approve Amendment No. 1 to Contract Services Agreement with Superion, LLC in the amount of $79,145 for TRAKiT software hosting, maintenance, and enhancement services; and authorize the City Manager to execute the amendment. Motion passed unanimously. STUDY SESSION 1. ELECTRONIC RECORDS MANAGEMENT 2017/18 UPDATE Deputy City Clerk Radeva presented the staff report, which is on file in the Clerk’s Office. Council discussed the quality control checks and balances in place for digitized records, cloud server back-ups; cloud server firewall and security measures; control over user licenses to ensure security of the electronic repository; paper records retention requirements; and the City’s ability to destroy paper records once they have been digitized, verified, and backed up at two separate locations. Council commended staff for their efforts. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – Continued PUBLIC COMMENT: Ms. Merita Hojtzalli, La Quinta – said her dog was recently stolen and the City’s police staff assisted her in the dog’s retrieval. She expressed her gratitude and support of the City’s security staff and measures in place; and commended staff for their responsiveness and high-level of customer service. PUBLIC COMMENT: Ms. Melissa Labayog, La Quinta – thanked the City for the time and efforts invested in planning and preparing for the 2018 Coachella Valley Music and Art Festival and the 2018 Stagecoach Festival. She said staff was extremely responsive, there was a lot presence of code, police, and security staff throughout, and all three festival weekends were handled very well. 10 CITY COUNCIL MINUTES Page 5 of 8 MAY 01, 2018 STUDY SESSION – Continued 2. FISCAL YEAR 2018/19 PRELIMINARY PROPOSED BUDGET Finance Director Campos and Financial Analyst Hallick presented the staff report, which is on file in the Clerk’s Office. Council discussed the proposed outside funding requests, including the City’s current participation in scholarship funds and grant programs; the need to provide educational opportunities; the City’s priority to ensure solid economic development and infrastructure which is its primary responsibility; the returned benefits to the City from participating in a joint 4th of July partnership celebration versus investing the funds into economic development to help build the community long-term and facilitate growth; a recommendation for the La Quinta Book to work with the La Quinta Historical Society; could the health survey help La Quinta identify priorities such as a Wellness Center expansion, a need for additional National Fitness Courts, health-related programs such as diabetes, obesity, etc.; and possibly offering a new “jumbo” grant option of up to $7,500 or $10,000 of matching funds requiring the organization to raise funds first. Council commended staff for preparing such easy to use financial document. Council expressed unanimous support for the additional internal proposals addressing economic development, public safety, and City business. The proposals included: 1) a proposal by the Planning Division to prepare a plan to update the long-term vision of the two-mile Highway 111 corridor, which is the City’s primary source of sales tax revenue, which would incorporate plans for CV Link, mixed-use development, evaluate pedestrian and bicyclist needs, autonomous vehicles, and reducing current parking demands; 2) a request by the Community Development Department to budget additional funds in the police account should there be an unanticipated increase – Council supported the allocation of additional $200,000 into the fund; and 3) additional staffing requests from the City Manager’s and City Clerk’s Offices to make a shared full-time Management Assistant position into two full-time non-shared positions in each department due to increased staffing needs. Council requested that staff make the identified budget review schedule available on the City’s website and schedule an e-blast; and announce it at all City commission meetings. Mayor Evans requested that Councilmembers provide staff with their feedbacks on the proposed outside funding requests individually. Council discussion followed regarding the City’s existing grant program for which funding has been reduced from $100,000 to $60,000 because it has never been expended; and possibly incorporating a new “jumbo” grant option. 11 CITY COUNCIL MINUTES Page 6 of 8 MAY 01, 2018 MAYOR EVANS CALLED FOR A BRIEF RECESS AT 5:18 P.M. MAYOR EVANS RECONVENIEND THE COUNCIL MEETING AT 5:30 P.M. WITH ALL MEMBERS PRESENT PUBLIC HEARINGS 1. ADOPT A RESOLUTION DECLARING THE PUBLIC INTEREST AND NECESSITY TO ACQUIRE PORTIONS OF PROPERTY LOCATED AT 46400 DUNE PALMS ROAD FOR THE DUNE PALMS WIDENING PROJECT (PROJECT NO. 2009-04) THROUGH EMINENT DOMAIN [RESOLUTION 2018-020] City Engineer McKinney presented the staff report, which is on file in the Clerk’s Office. MAYOR EVANS DECLARED THE PUBLIC HEARING OPEN AT 5:33 P.M. PUBLIC SPEAKER: Stacy Thomsen, Attorney with Peterson Law Group representing the Chin Family Properties Limited Partnership – said Petersen Law Group submitted a response letter, dated March 27, 2018, to the City’s Notice to Adopt Resolution of Necessity, which has been made part of the record, and she reiterated the same points listed in the letter. City Attorney Ihrke confirmed that the Petersen Law Group letter mentioned above was part of the record, and said it was within the Council’s purview to decide to move forward with the Resolution of Necessity at this time, or delay it until the Dune Palms Widening project is ready to move forward, which would be at least a year out, and will be subject to a separate environmental review because it is federally funded. MAYOR EVANS DECLARED THE PUBLIC HEARING CLOSED AT 5:36 P.M. City Attorney Ihrke requested that the proposed resolution language on page 2, SECTION 2, under the Now, Therefore, Be It Resolved section, the words “depicted in” be deleted from line 3 of the paragraph describing what the property interest the City seeks to consist of. Council discussed the funding for the street widening and whether there were any associated time constraints. Staff clarified that the time constraints are tied to the Dune Palms Bridge project not the street widening. Mayor Evans noted that the adoption of this resolution required a supermajority (2/3) vote for passage. MOTION – A motion was made and seconded by Councilmembers Peña/Radi to adopt Resolution No. 2018-020 declaring that the public interest and necessity require the acquisition of portions of the property located at 46400 Dune Palms Road through eminent domain as amended above: 12 CITY COUNCIL MINUTES Page 7 of 8 MAY 01, 2018 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AL QUINTA, CALIFORNIA, DECLARING THE PUBLIC INTEREST AND NECESSITY TO ACQUIRE PORITONS OF PROPERTY LOCATED AT 46400 DUNE PALMS ROAD, AND APPROVING AND ADOPTING A RESOLUTION OF NECESSITY Motion passed unanimously. DEPARTMENTAL REPORTS All reports are on file in the City Clerk’s Office. City Attorney Irhke said there was an article in the Desert Sun reporting that the City received a response letter from the Fair Political Practices Commission (FPPC) concluding its investigation based on a citizen’s complaint submitted back in 2016 concerning the City Manager. The FPPC concluded that there was no evidence showing there was any financial interest with the City Manager that would be subject to further review; thus, the case has been closed. MAYOR’S AND COUNCIL MEMBERS’ ITEMS Councilmembers were very pleased with the City’s Birthday celebration over the weekend. Councilmember Peña reported that staff received confirmation from Burrtec Waste & Recycling that their sweeping schedule has been changed to follow trash pick-up days. Brief Council discussion followed regarding the perpetual inclusion of public safety agencies, Police and Fire, under the Department Reports section of the agenda, and not when quarterly reports are provided. Councilmember Fitzpatrick commended Burrtec for their assistance and partnership in providing public restrooms at the City’s south parking lot while it served as temporary overflow parking for the camping festival goers. Council also commended City staff for implementing an on-the-go contingency plan to alleviate the festival camping situation caused by the high winds. Further discussion followed regarding miscellaneous festival concerns, including giving affected agencies proper notice to develop contingencies, as well as home owners’ properties that were used as landing spots, to ensure compliance. Mayor Evans said the Volunteer Appreciation Luncheon on Thursday, May 3, 2018, conflicted with her General Assembly meeting. Councilmembers Fitzpatrick and Radi said they will be attending the event. Mayor Evans noted that the Southern California Association of Governments Conference would be May 3-4, 2018. There will be a Tourism Rally, a quick bus tour taking the attendees from the conference venue to California State University San Bernardino for an economic impact of tourism during National Tourism Week. 13 CITY COUNCIL MINUTES Page 8 of 8 MAY 01, 2018 REPORTS AND INFORMATIONAL ITEMS La Quinta’s representative for 2018, Mayor Evans reported on her participation in the following organizations meetings: CVAG EXECUTIVE COMMITTEE ECONOMIC DEVELOPMENT SUBCOMMITTEE La Quinta’s representative for 2018, Councilmember Fitzpatrick reported on her participation in the following organization meeting: SILVERROCK EVENT SITE AD HOC COMMITTEE La Quinta’s representative for 2018, Councilmember Peña reported on his participation in the following organization meetings: CVAG VALLEY-WIDE HOMELESSNESS COMMITTEE EAST VALLEY COALITION JACQUELINE COCHRAN REGIONAL AIRPORT SUNLINE TRANSIT AGENCY (attended for Councilmember Radi) La Quinta’s representative for 2018, Councilmember Radi reported on his participation in the following organization meeting: COACHELLA VALLEY ECONOMIC PARTNERSHIP COUNCIL RECESSED THE OPEN SESSION PORTION OF THE MEETING AND MOVED INTO CLOSED SESSION AT 6:00 P.M. MAYOR EVANS RECONVENED THE OPEN SESSION PORTION OF THE CITY COUNCIL MEETING AT 7:21 P.M. WITH ALL MEMBERS PRESENT REPORT ON ACTION(S) TAKEN IN CLOSED SESSION: City Attorney Ihrke reported Council completed review of Closed Session Item No. 3 and continued the employment of the City Manager. ADJOURNMENT There being no further business, a motion was made and seconded by Councilmembers Fitzpatrick/ Peña to adjourn at 7:22 p.m. Motion passed unanimously. Respectfully submitted, MONIKA RADEVA, Deputy City Clerk City of La Quinta, California 14 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE THIRD QUARTER 2017/18 TREASURY REPORTS FOR JANUARY, FEBRUARY, AND MARCH 2018 RECOMMENDATION Receive and file the third quarter fiscal year 2017/18 Treasury Reports for January, February, and March 2018. BACKGROUND/ANALYSIS The third quarter 2017/18 Treasury/Investment Reports were reviewed and approved by the Financial Advisory Commission on May 9, 2018. Commentary and Summary of Significant Activity The portfolio increased $6.95 million, from $125.09 million to $132.04 million. The increase reflects revenue, expenditure, and investment activities during the quarter. Throughout the quarter, four CDs and one US Treasury bond matured for a total PAR value of $2,984,000. This money was reinvested, along with an additional $251,000, in six new investments (three CDs, one agency bond, one Treasury, and one corporate bond). These new investments are summarized in the table below and also in the attached reports. Market conditions in the third quarter of 2017/18 allowed for trading to realize gains, increase yields, and spread maturities. The market continued to react to the political climate and economic news, and staff worked with the City’s broker to capitalize on market conditions. The fiscal year annual effective rate of return is 1.18% as of March, a 12 basis point increase since December. Issuer Type Par Value Purchase Date Coupon Rate Maturity Microsoft Corporate $ 500,000 1/22/2018 1.850 2/6/2020 U.S. Treasury Treasury $ 1,000,000 1/22/2018 1.500 8/15/2020 Third Federal Savings CD 245,000$ 1/30/2018 2.500 1/31/2022 Federal Home Loan (FreddieMac)Agency 1,000,000$ 1/30/2018 2.550 1/30/2023 Unity Bank CD 245,000$ 3/16/2018 2.550 3/16/2021 Aneca Federal Credit Union CD 245,000$ 3/22/2018 2.800 3/22/2023 Investments by Purchase Date CONSENT CALENDAR ITEM NO. 2 15 Other Notes Money market funds with the fiscal agent are bond proceeds subject to bond indentures, not the City’s investment policy. Successor Agency (SA) funds cannot be invested long-term; therefore SA funds are only invested in LAIF. Looking Ahead The Treasurer follows a “buy and hold” investment policy, unless it is fiscally advantageous to actively trade outside of maturity dates. In the short term, the Treasurer will invest in negotiable certificates of deposits and LAIF as needed. Longer term investments may include Government Sponsored Enterprise securities, U.S. Treasuries, and Corporate Notes. All investments recognize both immediate and long- term cash flow needs. ALTERNATIVES - None Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director/City Treasurer Attachment: 1. Treasurer’s Report for January 1, 2018 to March 31, 2018 Investment Type January February March Max Allowed Bank Accounts 4% 7% 3% 85% Local Agency Investment Fund (LAIF) Housing 18% 18% 18% (2) Local Agency Investment Fund (LAIF) City 37% 33% 38% (1) Federal Agency Coupons 13% 12% 13% 30% Treasury Coupons 13% 13% 12% 100% Certificates of Deposit (CD's)11% 11% 12% 30% Corporate Notes 3% 2% 3% 10% Money Markets with Fiscal Agent 0% 3% 0% (2) Managed Pool Accounts-OPEB Trust (new)1% 1% 1% (3) Total 100% 100% 100% Portfolio Allocations (3) OPEB trust is a fiduciary account and not subject to City investment policy Percent of Portfolio (1) LAIF is subject to maximum dollar amount not a percentage of the portfolio (2) Money market with fiscal agent and LAIF Housing funds are governed by bond indentures and not subject to City investment policy Total Earnings Average Days to Maturity January 161,045.34$ 358 February 149,305.15$ 339 March 162,758.59$ 363 Quarter 473,109.08$ 353 16 17ATTACHMENT 1 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value January 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1City Petty Cash1059 1,700.00 1,700.0007/01/2016 1,700.00 1SYS1059 0.000 1First Empire Bank1060 0.00 0.0007/01/2016 0.00 1SYS1060 0.000 1La Quinta Palms Realty1062 171,455.89 171,455.8907/01/2016 171,455.89 1SYS1062 0.000 1Wells Fargo1057 4,678,241.07 4,678,241.0707/01/2016 4,678,241.07 14159282482 0.000 1Washington St Apt La Quinta1061 1,199,178.23 1,199,178.2307/01/2016 1,199,178.23 1SYS1061 0.000 6,050,575.19 16,050,575.196,050,575.192,846,220.10Subtotal and Average 1 0.000 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 25,647,385.17 25,647,385.17 1.35010/31/2017 25,647,385.17 125-33-005 1.350 25,647,385.17 125,647,385.1725,647,385.1725,630,486.73Subtotal and Average 1 1.350 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 51,703,382.37 51,703,382.37 1.35051,637,365.61 198-33-434 1.350 51,703,382.37 151,637,365.6151,703,382.3749,851,385.37Subtotal and Average 1 1.350 Federal Agency Coupon Securities 526Federal Farm Credit Bank1092 1,000,000.00 992,600.00 07/12/20191.08007/10/2017 983,910.00 7323133EGLC7 1.456 1,308Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 974,400.00 1,3923133EHWM1 1.913 1,182Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,408,975.00 1,8263130A7QZ1 1.423 998Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,430,500.00 1,4613130A9UQ2 1.375 953Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 983,460.00 1,0373130A66T9 1.741 1,182Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.25004/28/2016 2,459,125.00 1,8263134G8Y37 2.115 1,517Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 1,946,600.00 1,8263134GBAE2 2.106 1,427Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 975,600.00 1,6373134GBXF4 2.012 1,637Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 974,790.00 1,8263134GBWG3 2.150 1,824Federal Home Loan Mtg Corp1116 1,000,000.00 1,000,000.00 01/30/20232.55001/30/2018 991,570.00 1,8263134GSCD5 2.550 725Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,973,300.00 1,0363135G0S53 1.700 17,462,350.00 1,54117,102,230.0017,500,000.0016,526,866.13Subtotal and Average 1,175 1.812 Treasury Coupon Securities 1,245U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,796,100.00 1,808912828S27 1.125 256U.S. Treasury1063 2,500,000.00 2,502,250.00 10/15/20180.87510/24/2016 2,483,700.00 721912828L81 0.829 789U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,457,225.00 1,107912828J84 1.602 682U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,465,525.00 1,000912828U73 1.513 1,368U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,916,880.00 1,679912828T67 1.903 Portfolio CITY CP Run Date: 04/18/2018 - 10:39 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 18 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value January 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Treasury Coupon Securities 58U.S. Treasury1071 2,000,000.00 1,998,125.00 03/31/20180.87503/27/2017 1,998,320.00 369912828Q45 0.968 287U.S. Treasury1103 500,000.00 498,840.00 11/15/20181.25011/09/2017 497,600.00 371912828M64 1.481 926U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 981,720.00 9369128282Q2 2.071 17,901,815.00 1,18417,597,070.0018,000,000.0017,234,015.00Subtotal and Average 802 1.333 Certificate of Deposits 473First Business Bank1019 240,000.00 240,000.00 05/20/20191.75005/20/2014 239,388.00 1,82631938QH72 1.751 658First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 238,029.60 853320165HX4 1.653 271First Merchants Bank1020 240,000.00 240,000.00 10/30/20181.50004/30/2014 240,252.00 1,64432082BDF3 1.501 1,460Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 245,678.65 1,46288413QBY3 2.233 1,715Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 241,670.45 1,82601859BAA3 2.251 326Ally Bank Midvale1001 240,000.00 240,000.00 12/24/20181.70012/24/2015 239,716.80 1,09602006LWX7 1.702 1,173Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 237,897.60 1,46102587DP85 2.252 1,670American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 237,513.60 1,82602587CFU9 2.402 1,727Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 237,182.40 1,82606740KLJ4 2.301 1,390Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 242,224.15 1,462080515CD9 2.101 88Berkshire Bank1004 240,000.00 240,000.00 04/30/20181.35004/30/2014 240,040.80 1,461084601AL7 1.351 1,484BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 237,787.20 1,82605580AGK4 2.201 1,078Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 236,316.00 1,28006610RAP4 1.804 1,222Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 239,042.40 1,46114042RGD7 2.252 860Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 243,387.90 1,827140420RX0 1.902 46Carolina Alliance1007 248,000.00 248,000.00 03/19/20181.00006/19/2015 247,883.44 1,00414376RAM9 1.000 1,117Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 235,389.60 1,82720033APG5 1.702 194CIT Bank UT1008 240,000.00 240,000.00 08/14/20181.90008/14/2013 240,388.80 1,82617284CKN3 1.901 1,259Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 235,766.40 1,46115523RBJ4 1.851 124Compass Bank1010 248,000.00 248,000.00 06/05/20181.35006/05/2015 247,858.64 1,09620451PLG9 1.351 489Connect One1011 248,000.00 248,000.00 06/05/20191.50006/05/2015 246,936.08 1,46120786ABD6 1.501 88Cornerstone Community Bank1012 240,000.00 240,000.00 04/30/20181.35004/30/2014 239,932.80 1,461219240AZ1 1.351 88Crescent Bank and Trust1013 240,000.00 240,000.00 04/30/20181.30004/30/2014 239,904.00 1,461225645DC1 1.301 1,751CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 240,832.55 1,82422766ACB9 2.201 1,461Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 238,384.80 1,8262546722U1 2.251 719Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 237,602.40 916259744DS6 1.655 43Embassy National1015 248,000.00 248,000.00 03/16/20181.00006/17/2015 247,952.88 1,003290800AL5 1.000 1,761Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 240,195.55 1,82629367QCP1 2.151 453Ephrata Bank1016 240,000.00 240,000.00 04/30/20191.65004/30/2014 240,201.60 1,826294209AQ4 1.651 855EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 244,981.84 1,82729976DXX3 1.702 Portfolio CITY CP Run Date: 04/18/2018 - 10:39 PM (PRF_PM2) 7.3.0 19 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value January 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 369Farmers & Merch1018 248,000.00 248,000.00 02/05/20191.25006/05/2015 246,489.68 1,341307814DC4 1.252 1,055Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 243,106.15 1,09635638BAA9 2.052 473Gulf Coast Bank1024 240,000.00 240,000.00 05/20/20191.75005/19/2014 239,385.60 1,827402194EB6 1.724 1,545Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 239,316.00 1,82638148PJK4 2.401 893First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 237,139.20 1,096319141GT8 1.752 1,624HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 237,888.00 1,82640434YLE5 2.301 831Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 242,425.05 915472376AC6 1.751 1,566Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 241,192.70 1,64250116CBE8 2.099 1,792Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 242,765.60 1,826499724AB8 2.401 124MB Financial Bank1027 248,000.00 248,000.00 06/05/20181.10006/05/2015 247,766.88 1,09655266CME3 1.101 83Medallion Bank1028 240,000.00 240,000.00 04/25/20181.35004/25/2014 239,944.80 1,46158403BL95 1.351 887Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 237,172.80 1,09658740XZL7 1.752 130MFR Trade & Trust1026 248,000.00 248,000.00 06/11/20181.20006/10/2015 247,712.32 1,097564759QT8 1.033 862Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 244,642.08 1,827063615AVO 1.652 655Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 243,662.30 73261747MA92 1.800 314Morton Community1030 248,000.00 248,000.00 12/12/20181.25006/12/2015 247,345.28 1,279619165GE7 1.251 97Merrick Bank1029 240,000.00 240,000.00 05/09/20181.35005/09/2014 240,043.20 1,46159012Y6Q5 1.351 655Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 243,449.15 73261760AEP0 1.750 1,741Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 242,013.45 1,82662384RAC0 2.301 1,448The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 235,243.20 1,645677721CN0 1.903 481Peapack-Gladstone Bank1031 240,000.00 240,000.00 05/28/20191.80005/28/2014 240,139.20 1,826704692AL6 1.801 1,210PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 234,110.40 1,82674267GVG9 1.501 165Regal Bank1033 240,000.00 240,000.00 07/16/20181.40005/16/2014 240,069.60 1,52275874TAH4 1.401 1,026Fist Bank RIchmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 241,577.35 1,251319267GC8 1.802 581Riverwood1034248,000.00 248,000.00 09/05/20191.40006/05/2015 246,732.72 1,55376951DAL4 1.402 1,601Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 238,512.00 1,826795450A70 2.351 67South Atlantic1036 248,000.00 248,000.00 04/09/20181.00006/09/2015 247,806.56 1,03583637AAP9 1.001 488Solomon State1035 248,000.00 248,000.00 06/04/20191.40006/04/2015 246,938.56 1,46183427LAX2 1.401 810Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 236,805.60 1,096857894TC3 1.588 1,582Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 239,114.40 1,82687164XQV1 2.401 446Webster Bank1042 240,000.00 240,000.00 04/23/20191.80004/23/2014 240,187.20 1,82694768NJQ8 1.801 390Wells Fargo1043 240,000.00 240,000.00 02/26/20191.20002/26/2016 239,400.00 1,0969497483N5 1.201 15,054,000.00 1,47614,950,435.9615,054,000.0015,129,580.65Subtotal and Average 838 1.754 Portfolio CITY CP Run Date: 04/18/2018 - 10:39 PM (PRF_PM2) 7.3.0 20 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value January 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Corporate Notes 1,280Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 481,540.00 1,514037833CC2 1.900 393Johnson and Johnson Corp1075 2,000,000.00 1,993,200.00 03/01/20191.12503/29/2017 1,980,640.00 702478160BR4 1.305 735Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 495,425.00 745594918BV5 2.081 624Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 494,095.00 71089236TDH5 1.681 3,482,700.00 8243,451,700.003,500,000.003,145,548.39Subtotal and Average 601 1.554 Money Market with Fiscal Agent 1US Bank1058 3,498.30 3,498.3007/01/2016 3,498.30 1SYS1058 0.000 3,498.30 13,498.303,498.303,496.63Subtotal and Average 1 0.000 Managed Pool Accounts-OPEB Trust 1CalPERS CERBT Plan1114 1,529,867.37 1,529,867.3712/18/2017 1,529,867.37 1SYS1114 0.000 1,529,867.37 11,529,867.371,529,867.371,529,867.37Subtotal and Average 1 0.000 528131,897,466.35 138,988,708.40 358 1.381137,970,127.60 138,835,573.40Total and Average Portfolio CITY CP Run Date: 04/18/2018 - 10:39 PM (PRF_PM2) 7.3.0 21 Days to Maturity Page 5 Par Value Book Value Stated RateMarket Value January 31, 2018 Portfolio Details - Cash Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date 0.00 528131,897,466.35 138,988,708.40 358 1.381 0 0 120.99 120.99 120.99 120.99 Subtotal Accrued Interest at PurchaseAverage Balance 137,970,248.59 138,835,694.39Total Cash and Investments Portfolio CITY CP Run Date: 04/18/2018 - 10:39 PM (PRF_PM2) 7.3.0 22 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund January 1, 2018 - January 31, 2018 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001001240,000.00 1.700ALLY 346.52 0.00 346.521.700101240,000.0002006LWX7 0.00 248,000.001002248,000.00 1.650MIDWES 347.54 0.00 347.541.650101248,000.00063615AVO 0.00 240,000.001004240,000.00 1.350BERKS 275.18 0.00 275.181.350101240,000.00084601AL7 0.00 245,000.001006245,000.00 1.900CAPONE 395.35 0.00 395.351.900101245,000.00140420RX0 0.00 248,000.001007248,000.00 1.000CAROL 210.63 0.00 210.631.000101248,000.0014376RAM9 0.00 240,000.001008240,000.00 1.900CITI 387.29 0.00 387.291.900101240,000.0017284CKN3 0.00 240,000.001009240,000.00 1.700CCBA 346.52 0.00 346.521.700101240,000.0020033APG5 0.00 248,000.001010248,000.00 1.350COMP 284.35 0.00 284.351.350101248,000.0020451PLG9 0.00 248,000.001011248,000.00 1.500CONNEC 315.94 0.00 315.941.500101248,000.0020786ABD6 0.00 240,000.001012240,000.00 1.350CORNER 275.18 0.00 275.181.350101240,000.00219240AZ1 0.00 240,000.001013240,000.00 1.300CRESC 264.99 0.00 264.991.300101240,000.00225645DC1 0.00 248,000.001015248,000.00 1.000EMBNAT 210.63 0.00 210.631.000101248,000.00290800AL5 0.00 240,000.001016240,000.00 1.650EPHRAT 336.33 0.00 336.331.650101240,000.00294209AQ4 0.00 248,000.001017248,000.00 1.700EVRBA 358.08 0.00 358.081.700101248,000.0029976DXX3 0.00 248,000.001018248,000.00 1.250FARMER 263.29 0.00 263.291.250101248,000.00307814DC4 0.00 240,000.001019240,000.00 1.7501STBUS 356.72 0.00 356.721.750101240,000.0031938QH72 0.00 240,000.001020240,000.00 1.5001STMER 305.76 0.00 305.761.500101240,000.0032082BDF3 0.00 240,000.001024240,000.00 1.750GCB 356.71 0.00 356.711.750101240,000.00402194EB6 0.00 0.0010250.00 0.900INDEP 67.27 0.00 67.270.900101248,000.0045383UQY4 0.00 248,000.001026248,000.00 1.200MFR 252.75 0.00 252.751.200101248,000.00564759QT8 0.00 248,000.001027248,000.00 1.100MBFIN 231.69 0.00 231.691.100101248,000.0055266CME3 0.00 240,000.001028240,000.00 1.350MEDBA 275.18 0.00 275.181.350101240,000.0058403BL95 0.00 240,000.001029240,000.00 1.350MRRCK 275.18 0.00 275.181.350101240,000.0059012Y6Q5 0.00 248,000.001030248,000.00 1.250MORTN 263.29 0.00 263.291.250101248,000.00619165GE7 0.00 240,000.001031240,000.00 1.800PEAPAC 366.90 0.00 366.901.800101240,000.00704692AL6 0.00 240,000.001032240,000.00 1.500PRVTBA 305.76 0.00 305.761.500101240,000.0074267GVG9 0.00 240,000.001033240,000.00 1.400REGAL 285.37 0.00 285.371.400101240,000.0075874TAH4 0.00 248,000.001034248,000.00 1.400RVRW 294.88 0.00 294.881.400101248,000.0076951DAL4 0.00 248,000.001035248,000.00 1.400SOLOM 294.89 0.00 294.891.400101248,000.0083427LAX2 0.00 248,000.001036248,000.00 1.000SOATL 210.63 0.00 210.631.000101248,000.0083637AAP9 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:46 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.123 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest January 1, 2018 - January 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 0.0010380.00 1.2503RD 230.13 0.00 230.131.250101240,000.0088413QAN8 0.00 240,000.001042240,000.00 1.800WEB 366.90 0.00 366.901.800101240,000.0094768NJQ8 0.00 240,000.001043240,000.00 1.200WELLS 244.60 0.00 244.601.200101240,000.009497483N5 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,816.99 0.00 4,816.991.1341015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.3291012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.250FHLMC 2,604.17 0.00 2,604.171.2261012,500,000.003134G8Y37 0.00 51,703,382.37105551,703,382.37 1.350LAIF 63,675.78 0.00 63,675.781.50410143,575,027.1898-33-434 0.00 4,678,241.0710574,678,241.07WELLS 0.01 0.00 0.011011,359,875.094159282482 0.00 1,700.0010591,700.00CITYPC 0.00 0.00 0.001011,700.00SYS1059 0.00 2,502,250.0010632,500,000.00 0.875USTR 1,862.98 0.00 1,862.980.8771012,502,250.00912828L81 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.58 0.00 2,864.581.3491012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 458.63 0.00 458.632.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 448.44 0.00 448.442.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,927.54 0.00 2,927.541.3881012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,927.54 0.00 2,927.541.3841012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 2,140.88 0.00 2,140.881.2971011,942,800.00912828T67 0.00 1,998,125.0010712,000,000.00 0.875USTR 1,490.39 0.00 1,490.390.8781011,998,125.00912828Q45 0.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.34 0.00 2,833.341.6681012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.34 0.00 3,333.341.9721011,990,000.003134GBAE2 0.00 1,993,200.0010752,000,000.00 1.125J&J 1,875.00 0.00 1,875.001.1081011,993,200.00478160BR4 0.00 240,000.001076240,000.00 1.600STRNS 326.14 0.00 326.141.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 458.63 0.00 458.632.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 489.20 0.00 489.202.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.84 0.00 645.841.542101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 489.20 0.00 489.202.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 374.54 0.00 374.541.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 458.63 0.00 458.632.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 479.01 0.00 479.012.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.66 0.00 1,666.661.963101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 377.10 0.00 377.101.850101240,000.0015523RBJ4 0.00 240,000.001086240,000.00 1.800BNKRS 366.90 0.00 366.901.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 356.71 0.00 356.711.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 468.82 0.00 468.822.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 387.29 0.00 387.291.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.67 0.00 1,791.672.1101011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 336.33 0.00 336.331.650101240,000.00320165HX4 0.00 992,600.0010921,000,000.00 1.080FFCB 900.00 0.00 900.001.068101992,600.003133EGLC7 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:46 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.124 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest January 1, 2018 - January 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001093240,000.00 1.650DOUGLS 336.33 0.00 336.331.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 356.71 0.00 356.711.750101240,000.00319141GT8 0.00 245,000.001095245,000.00 2.250ALLIAN 468.18 0.00 468.182.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 489.21 0.00 489.212.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 468.82 0.00 468.822.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.83 0.00 645.831.525101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 478.59 0.00 478.592.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 364.14 0.00 364.141.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 436.97 0.00 436.972.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 436.97 0.00 436.972.100101245,000.00080515CD9 0.00 498,840.001103500,000.00 1.250USTR 535.23 0.00 535.231.263101498,840.00912828M64 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.16 0.00 1,354.161.600101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.66 0.00 1,416.661.681101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 457.78 0.00 457.782.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 447.38 0.00 447.382.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 364.15 0.00 364.151.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 374.55 0.00 374.551.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 499.40 0.00 499.402.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 426.57 0.00 426.572.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 33.56 0.00 33.562.5001010.0088413QBY3 0.00 1,529,867.3711141,529,867.37CALPRS 0.00 0.00 0.001011,529,867.37SYS1114 0.00 1,000,000.0011161,000,000.00 2.550FHLMC 70.83 0.00 70.831.2931010.003134GSCD5 0.00 985,800.0011171,000,000.00 1.500USTR 407.61 0.00 407.611.5091010.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 231.25 0.00 231.251.6961010.00594918BV5 0.00 111,967,190.81Subtotal 111,814,055.81 1.439 128,148.090.00128,148.0998,126,834.64 0.00 Fund: 1st Empire Securities Cash Bal 0.0010600.00EMPIRE 37.59 0.00 37.590.66010259,733.73SYS1060 0.00 0.00Subtotal 0.00 0.660 37.590.0037.5959,733.73 0.00 Fund: Fiscal Agent 3,498.3010583,498.30USBANK 1.73 0.00 1.730.5832313,496.57SYS1058 0.00 3,498.30Subtotal 3,498.30 0.583 1.730.001.733,496.57 0.00 Fund: Housing Authority : WSA and LQ 1,199,178.2310611,199,178.23WSALQ 0.00 0.00 0.002411,150,132.13SYS1061 0.00 171,455.891062171,455.89LQPR 0.00 0.00 0.00241158,447.30SYS1062 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:46 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.125 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest January 1, 2018 - January 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss 1,370,634.12Subtotal 1,370,634.12 0.000.000.001,308,579.43 0.00 Fund: SA Low/Mod Bond Fund 25,647,385.17111325,647,385.17 1.350LAIF 32,857.93 0.00 32,857.931.50924925,595,000.0025-33-005 0.00 25,647,385.17Subtotal 25,647,385.17 1.509 32,857.930.0032,857.9325,595,000.00 0.00 138,988,708.40Total 138,835,573.40 1.438 161,045.340.00161,045.34125,093,644.37 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:46 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.126 27 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value February 28, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1City Petty Cash1059 1,700.00 1,700.0007/01/2016 1,700.00 1SYS1059 0.000 1First Empire Bank1060 0.00 0.0007/01/2016 0.00 1SYS1060 0.000 1La Quinta Palms Realty1062 179,708.41 179,708.4107/01/2016 179,708.41 1SYS1062 0.000 1Wells Fargo1057 7,937,217.20 7,937,217.2007/01/2016 7,937,217.20 14159282482 0.000 1Washington St Apt La Quinta1061 1,212,531.95 1,212,531.9507/01/2016 1,212,531.95 1SYS1061 0.000 9,331,157.56 19,331,157.569,331,157.566,167,743.88Subtotal and Average 1 0.000 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 25,647,385.17 25,647,385.17 1.41210/31/2017 25,647,385.17 125-33-005 1.412 25,647,385.17 125,647,385.1725,647,385.1725,647,385.17Subtotal and Average 1 1.412 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 47,203,382.37 47,203,382.37 1.41247,137,365.61 198-33-434 1.412 47,203,382.37 147,137,365.6147,203,382.3748,006,953.80Subtotal and Average 1 1.412 Federal Agency Coupon Securities 498Federal Farm Credit Bank1092 1,000,000.00 992,600.00 07/12/20191.08007/10/2017 983,780.00 7323133EGLC7 1.456 1,280Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 971,200.00 1,3923133EHWM1 1.913 1,154Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,403,325.00 1,8263130A7QZ1 1.423 970Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,425,825.00 1,4613130A9UQ2 1.375 925Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 978,170.00 1,0373130A66T9 1.741 1,154Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.25004/28/2016 2,455,725.00 1,8263134G8Y37 2.115 1,489Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 1,938,940.00 1,8263134GBAE2 2.106 1,399Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 972,050.00 1,6373134GBXF4 2.012 1,609Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 970,570.00 1,8263134GBWG3 2.150 1,796Federal Home Loan Mtg Corp1116 1,000,000.00 1,000,000.00 01/30/20232.55001/30/2018 987,530.00 1,8263134GSCD5 2.550 697Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,975,540.00 1,0363135G0S53 1.700 17,462,350.00 1,54117,062,655.0017,500,000.0017,462,350.00Subtotal and Average 1,147 1.812 Treasury Coupon Securities 1,217U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,781,850.00 1,808912828S27 1.125 228U.S. Treasury1063 2,500,000.00 2,502,250.00 10/15/20180.87510/24/2016 2,483,300.00 721912828L81 0.829 761U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,452,650.00 1,107912828J84 1.602 654U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,462,200.00 1,000912828U73 1.513 1,340U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,910,400.00 1,679912828T67 1.903 Portfolio CITY CP Run Date: 04/18/2018 - 10:43 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 28 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value February 28, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Treasury Coupon Securities 30U.S. Treasury1071 2,000,000.00 1,998,125.00 03/31/20180.87503/27/2017 1,999,100.00 369912828Q45 0.968 259U.S. Treasury1103 500,000.00 498,840.00 11/15/20181.25011/09/2017 497,385.00 371912828M64 1.481 898U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 979,810.00 9369128282Q2 2.071 17,901,815.00 1,18417,566,695.0018,000,000.0017,901,815.00Subtotal and Average 774 1.333 Certificate of Deposits 445First Business Bank1019 240,000.00 240,000.00 05/20/20191.75005/20/2014 239,169.60 1,82631938QH72 1.751 630First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 237,511.20 853320165HX4 1.653 243First Merchants Bank1020 240,000.00 240,000.00 10/30/20181.50004/30/2014 240,127.20 1,64432082BDF3 1.501 1,432Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 244,171.90 1,46288413QBY3 2.233 1,687Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 240,202.90 1,82601859BAA3 2.251 298Ally Bank Midvale1001 240,000.00 240,000.00 12/24/20181.70012/24/2015 239,671.20 1,09602006LWX7 1.702 1,145Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 237,057.60 1,46102587DP85 2.252 1,642American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 235,881.60 1,82602587CFU9 2.402 1,699Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 235,732.80 1,82606740KLJ4 2.301 1,362Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 240,933.00 1,462080515CD9 2.101 60Berkshire Bank1004 240,000.00 240,000.00 04/30/20181.35004/30/2014 240,040.80 1,461084601AL7 1.351 1,456BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 236,392.80 1,82605580AGK4 2.201 1,050Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 235,562.40 1,28006610RAP4 1.804 1,194Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 238,032.00 1,46114042RGD7 2.252 832Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 242,498.55 1,827140420RX0 1.902 18Carolina Alliance1007 248,000.00 248,000.00 03/19/20181.00006/19/2015 247,962.80 1,00414376RAM9 1.000 1,089Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 234,648.00 1,82720033APG5 1.702 166CIT Bank UT1008 240,000.00 240,000.00 08/14/20181.90008/14/2013 240,297.60 1,82617284CKN3 1.901 1,231Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 234,775.20 1,46115523RBJ4 1.851 96Compass Bank1010 248,000.00 248,000.00 06/05/20181.35006/05/2015 247,873.52 1,09620451PLG9 1.351 461Connect One1011 248,000.00 248,000.00 06/05/20191.50006/05/2015 246,712.88 1,46120786ABD6 1.501 60Cornerstone Community Bank1012 240,000.00 240,000.00 04/30/20181.35004/30/2014 239,971.20 1,461219240AZ1 1.351 60Crescent Bank and Trust1013 240,000.00 240,000.00 04/30/20181.30004/30/2014 239,952.00 1,461225645DC1 1.301 1,723CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 239,367.45 1,82422766ACB9 2.201 1,433Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 236,959.20 1,8262546722U1 2.251 691Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 236,944.80 916259744DS6 1.655 15Embassy National1015 248,000.00 248,000.00 03/16/20181.00006/17/2015 247,987.60 1,003290800AL5 1.000 1,733Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 238,745.15 1,82629367QCP1 2.151 425Ephrata Bank1016 240,000.00 240,000.00 04/30/20191.65004/30/2014 239,966.40 1,826294209AQ4 1.651 827EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 244,128.72 1,82729976DXX3 1.702 Portfolio CITY CP Run Date: 04/18/2018 - 10:43 PM (PRF_PM2) 7.3.0 29 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value February 28, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 341Farmers & Merch1018 248,000.00 248,000.00 02/05/20191.25006/05/2015 246,534.32 1,341307814DC4 1.252 1,027Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 242,268.25 1,09635638BAA9 2.052 445Gulf Coast Bank1024 240,000.00 240,000.00 05/20/20191.75005/19/2014 239,172.00 1,827402194EB6 1.724 1,517Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 237,873.60 1,82638148PJK4 2.401 865First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 236,308.80 1,096319141GT8 1.752 1,596HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 236,445.60 1,82640434YLE5 2.301 803Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 241,572.45 915472376AC6 1.751 1,538Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 239,774.15 1,64250116CBE8 2.099 1,764Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 241,253.95 1,826499724AB8 2.401 96MB Financial Bank1027 248,000.00 248,000.00 06/05/20181.10006/05/2015 247,806.56 1,09655266CME3 1.101 55Medallion Bank1028 240,000.00 240,000.00 04/25/20181.35004/25/2014 239,980.80 1,46158403BL95 1.351 859Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 236,342.40 1,09658740XZL7 1.752 102MFR Trade & Trust1026 248,000.00 248,000.00 06/11/20181.20006/10/2015 247,754.48 1,097564759QT8 1.033 834Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 243,806.32 1,827063615AVO 1.652 627Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 243,108.60 73261747MA92 1.800 286Morton Community1030 248,000.00 248,000.00 12/12/20181.25006/12/2015 247,337.84 1,279619165GE7 1.251 69Merrick Bank1029 240,000.00 240,000.00 05/09/20181.35005/09/2014 240,038.40 1,46159012Y6Q5 1.351 627Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 242,902.80 73261760AEP0 1.750 1,713Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 240,528.75 1,82662384RAC0 2.301 1,420The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 233,913.60 1,645677721CN0 1.903 453Peapack-Gladstone Bank1031 240,000.00 240,000.00 05/28/20191.80005/28/2014 239,863.20 1,826704692AL6 1.801 1,182PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 233,241.60 1,82674267GVG9 1.501 137Regal Bank1033 240,000.00 240,000.00 07/16/20181.40005/16/2014 240,036.00 1,52275874TAH4 1.401 998Fist Bank RIchmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 240,771.30 1,251319267GC8 1.802 553Riverwood1034248,000.00 248,000.00 09/05/20191.40006/05/2015 246,338.40 1,55376951DAL4 1.402 1,573Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 237,064.80 1,826795450A70 2.351 39South Atlantic1036 248,000.00 248,000.00 04/09/20181.00006/09/2015 247,910.72 1,03583637AAP9 1.001 460Solomon State1035 248,000.00 248,000.00 06/04/20191.40006/04/2015 246,717.84 1,46183427LAX2 1.401 782Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 236,001.60 1,096857894TC3 1.588 1,554Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 237,662.40 1,82687164XQV1 2.401 418Webster Bank1042 240,000.00 240,000.00 04/23/20191.80004/23/2014 239,961.60 1,82694768NJQ8 1.801 362Wells Fargo1043 240,000.00 240,000.00 02/26/20191.20002/26/2016 239,311.20 1,0969497483N5 1.201 15,054,000.00 1,47614,908,882.4015,054,000.0015,054,000.00Subtotal and Average 810 1.754 Portfolio CITY CP Run Date: 04/18/2018 - 10:43 PM (PRF_PM2) 7.3.0 30 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value February 28, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Corporate Notes 1,252Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 479,115.00 1,514037833CC2 1.900 365Johnson and Johnson Corp1075 2,000,000.00 1,993,200.00 03/01/20191.12503/29/2017 1,978,160.00 702478160BR4 1.305 707Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 494,645.00 745594918BV5 2.081 596Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 492,950.00 71089236TDH5 1.681 3,482,700.00 8243,444,870.003,500,000.003,482,700.00Subtotal and Average 573 1.554 Money Market with Fiscal Agent 1US Bank1058 4,589,541.56 4,589,541.5607/01/2016 4,589,541.56 1SYS1058 0.000 4,589,541.56 14,589,541.564,589,541.56167,285.56Subtotal and Average 1 0.000 Managed Pool Accounts-OPEB Trust 1CalPERS CERBT Plan1114 1,529,867.37 1,529,867.3712/18/2017 1,529,867.37 1SYS1114 0.000 1,529,867.37 11,529,867.371,529,867.371,529,867.37Subtotal and Average 1 0.000 515135,420,100.78 142,355,334.03 339 1.337141,218,419.67 142,202,199.03Total and Average Portfolio CITY CP Run Date: 04/18/2018 - 10:43 PM (PRF_PM2) 7.3.0 31 Days to Maturity Page 5 Par Value Book Value Stated RateMarket Value February 28, 2018 Portfolio Details - Cash Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date 0.00 515135,420,100.78 142,355,334.03 339 1.337 0 0 120.99 120.99 120.99 120.99 Subtotal Accrued Interest at PurchaseAverage Balance 141,218,540.66 142,202,320.02Total Cash and Investments Portfolio CITY CP Run Date: 04/18/2018 - 10:43 PM (PRF_PM2) 7.3.0 32 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund February 1, 2018 - February 28, 2018 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001001240,000.00 1.700ALLY 312.99 0.00 312.991.700101240,000.0002006LWX7 0.00 248,000.001002248,000.00 1.650MIDWES 313.90 0.00 313.901.650101248,000.00063615AVO 0.00 240,000.001004240,000.00 1.350BERKS 248.54 0.00 248.541.350101240,000.00084601AL7 0.00 245,000.001006245,000.00 1.900CAPONE 357.10 0.00 357.101.900101245,000.00140420RX0 0.00 248,000.001007248,000.00 1.000CAROL 190.25 0.00 190.251.000101248,000.0014376RAM9 0.00 240,000.001008240,000.00 1.900CITI 349.81 0.00 349.811.900101240,000.0017284CKN3 0.00 240,000.001009240,000.00 1.700CCBA 312.98 0.00 312.981.700101240,000.0020033APG5 0.00 248,000.001010248,000.00 1.350COMP 256.83 0.00 256.831.350101248,000.0020451PLG9 0.00 248,000.001011248,000.00 1.500CONNEC 285.37 0.00 285.371.500101248,000.0020786ABD6 0.00 240,000.001012240,000.00 1.350CORNER 248.54 0.00 248.541.350101240,000.00219240AZ1 0.00 240,000.001013240,000.00 1.300CRESC 239.34 0.00 239.341.300101240,000.00225645DC1 0.00 248,000.001015248,000.00 1.000EMBNAT 190.25 0.00 190.251.000101248,000.00290800AL5 0.00 240,000.001016240,000.00 1.650EPHRAT 303.78 0.00 303.781.650101240,000.00294209AQ4 0.00 248,000.001017248,000.00 1.700EVRBA 323.41 0.00 323.411.700101248,000.0029976DXX3 0.00 248,000.001018248,000.00 1.250FARMER 237.81 0.00 237.811.250101248,000.00307814DC4 0.00 240,000.001019240,000.00 1.7501STBUS 322.19 0.00 322.191.750101240,000.0031938QH72 0.00 240,000.001020240,000.00 1.5001STMER 276.16 0.00 276.161.500101240,000.0032082BDF3 0.00 240,000.001024240,000.00 1.750GCB 322.20 0.00 322.201.750101240,000.00402194EB6 0.00 248,000.001026248,000.00 1.200MFR 228.30 0.00 228.301.200101248,000.00564759QT8 0.00 248,000.001027248,000.00 1.100MBFIN 209.27 0.00 209.271.100101248,000.0055266CME3 0.00 240,000.001028240,000.00 1.350MEDBA 248.55 0.00 248.551.350101240,000.0058403BL95 0.00 240,000.001029240,000.00 1.350MRRCK 248.54 0.00 248.541.350101240,000.0059012Y6Q5 0.00 248,000.001030248,000.00 1.250MORTN 237.81 0.00 237.811.250101248,000.00619165GE7 0.00 240,000.001031240,000.00 1.800PEAPAC 331.40 0.00 331.401.800101240,000.00704692AL6 0.00 240,000.001032240,000.00 1.500PRVTBA 276.16 0.00 276.161.500101240,000.0074267GVG9 0.00 240,000.001033240,000.00 1.400REGAL 257.75 0.00 257.751.400101240,000.0075874TAH4 0.00 248,000.001034248,000.00 1.400RVRW 266.35 0.00 266.351.400101248,000.0076951DAL4 0.00 248,000.001035248,000.00 1.400SOLOM 266.34 0.00 266.341.400101248,000.0083427LAX2 0.00 248,000.001036248,000.00 1.000SOATL 190.24 0.00 190.241.000101248,000.0083637AAP9 0.00 240,000.001042240,000.00 1.800WEB 331.40 0.00 331.401.800101240,000.0094768NJQ8 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.133 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest February 1, 2018 - February 28, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001043240,000.00 1.200WELLS 220.93 0.00 220.931.200101240,000.009497483N5 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,350.82 0.00 4,350.821.1341015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.4721012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.250FHLMC 2,604.16 0.00 2,604.161.3581012,500,000.003134G8Y37 0.00 47,203,382.37105547,203,382.37 1.412LAIF 55,385.69 0.00 55,385.691.50410151,703,382.3798-33-434 0.00 7,937,217.2010577,937,217.20WELLS 0.01 0.00 0.011014,678,241.074159282482 0.00 1,700.0010591,700.00CITYPC 0.00 0.00 0.001011,700.00SYS1059 0.00 2,502,250.0010632,500,000.00 0.875USTR 1,682.69 0.00 1,682.690.8771012,502,250.00912828L81 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.58 0.00 2,864.581.4941012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 414.25 0.00 414.252.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 405.04 0.00 405.042.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,644.24 0.00 2,644.241.3881012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,644.23 0.00 2,644.231.3841012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 1,933.70 0.00 1,933.701.2971011,942,800.00912828T67 0.00 1,998,125.0010712,000,000.00 0.875USTR 1,346.15 0.00 1,346.150.8781011,998,125.00912828Q45 0.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.33 0.00 2,833.331.8471012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.33 0.00 3,333.332.1841011,990,000.003134GBAE2 0.00 1,993,200.0010752,000,000.00 1.125J&J 1,875.00 0.00 1,875.001.2261011,993,200.00478160BR4 0.00 240,000.001076240,000.00 1.600STRNS 294.57 0.00 294.571.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 414.25 0.00 414.252.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 441.86 0.00 441.862.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.83 0.00 645.831.708101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 441.86 0.00 441.862.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 338.30 0.00 338.301.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 414.25 0.00 414.252.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 432.66 0.00 432.662.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.67 0.00 1,666.672.174101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 340.60 0.00 340.601.850101240,000.0015523RBJ4 0.00 240,000.001086240,000.00 1.800BNKRS 331.40 0.00 331.401.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 322.19 0.00 322.191.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 423.46 0.00 423.462.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 349.81 0.00 349.811.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.67 0.00 1,791.672.3361011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 303.78 0.00 303.781.650101240,000.00320165HX4 0.00 992,600.0010921,000,000.00 1.080FFCB 900.00 0.00 900.001.182101992,600.003133EGLC7 0.00 240,000.001093240,000.00 1.650DOUGLS 303.78 0.00 303.781.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 322.19 0.00 322.191.750101240,000.00319141GT8 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.134 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest February 1, 2018 - February 28, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 245,000.001095245,000.00 2.250ALLIAN 422.88 0.00 422.882.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 441.86 0.00 441.862.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 423.45 0.00 423.452.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.83 0.00 645.831.688101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 432.28 0.00 432.282.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 328.91 0.00 328.911.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 394.69 0.00 394.692.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 394.68 0.00 394.682.100101245,000.00080515CD9 0.00 498,840.001103500,000.00 1.250USTR 483.42 0.00 483.421.263101498,840.00912828M64 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.17 0.00 1,354.171.771101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.67 0.00 1,416.671.861101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 413.48 0.00 413.482.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 404.08 0.00 404.082.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 328.90 0.00 328.901.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 338.30 0.00 338.301.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 451.06 0.00 451.062.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 385.29 0.00 385.292.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 469.86 0.00 469.862.500101245,000.0088413QBY3 0.00 1,529,867.3711141,529,867.37CALPRS 0.00 0.00 0.001011,529,867.37SYS1114 0.00 1,000,000.0011161,000,000.00 2.550FHLMC 2,125.00 0.00 2,125.002.7701011,000,000.003134GSCD5 0.00 985,800.0011171,000,000.00 1.500USTR 1,150.76 0.00 1,150.761.522101985,800.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 770.83 0.00 770.832.019101497,700.00594918BV5 0.00 110,726,166.94Subtotal 110,573,031.94 1.440 119,589.740.00119,589.74111,814,055.81 0.00 Fund: 1st Empire Securities Cash Bal 0.0010600.00EMPIRE 15.67 0.00 15.67***.***102 0.00SYS1060 0.00 0.00Subtotal 0.00 ***.***15.670.0015.670.00 0.00 Fund: Fiscal Agent 4,589,541.5610584,589,541.56USBANK 2.05 0.00 2.050.0162313,498.30SYS1058 0.00 4,589,541.56Subtotal 4,589,541.56 0.016 2.050.002.053,498.30 0.00 Fund: Housing Authority : WSA and LQ 1,212,531.9510611,212,531.95WSALQ 0.00 0.00 0.002411,199,178.23SYS1061 0.00 179,708.411062179,708.41LQPR 0.00 0.00 0.00241171,455.89SYS1062 0.00 1,392,240.36Subtotal 1,392,240.36 0.000.000.001,370,634.12 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.135 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest February 1, 2018 - February 28, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: SA Low/Mod Bond Fund 25,647,385.17111325,647,385.17 1.412LAIF 29,697.69 0.00 29,697.691.50924925,647,385.1725-33-005 0.00 25,647,385.17Subtotal 25,647,385.17 1.509 29,697.690.0029,697.6925,647,385.17 0.00 142,355,334.03Total 142,202,199.03 1.437 149,305.150.00149,305.15138,835,573.40 0.00 Portfolio CITY CP Run Date: 04/24/2018 - 16:51 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.136 37 Days to Maturity Page 1 Par Value Book Value Maturity Date Stated RateMarket Value March 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Bank Accounts 1City Petty Cash1059 1,700.00 1,700.0007/01/2016 1,700.00 1SYS1059 0.000 1First Empire Bank1060 65,528.24 65,528.2407/01/2016 65,528.24 1SYS1060 0.000 1La Quinta Palms Realty1062 195,448.93 195,448.9307/01/2016 195,448.93 1SYS1062 0.000 1Wells Fargo1057 2,429,776.47 2,429,776.4707/01/2016 2,429,776.47 14159282482 0.000 1Washington St Apt La Quinta1061 1,073,290.98 1,073,290.9807/01/2016 1,073,290.98 1SYS1061 0.000 3,765,744.62 13,765,744.623,765,744.629,173,463.76Subtotal and Average 1 0.000 Local Agency Invstmnt Fund-Housing 1Local Agency Inv Fund1113 23,647,385.17 23,647,385.17 1.52410/31/2017 23,647,385.17 125-33-005 1.524 23,647,385.17 123,647,385.1723,647,385.1723,969,965.82Subtotal and Average 1 1.524 Local Agency Investment Fund-City 1Local Agency Inv Fund1055 49,203,382.37 49,203,382.37 1.52449,137,365.61 198-33-434 1.524 49,203,382.37 149,137,365.6149,203,382.3747,461,446.89Subtotal and Average 1 1.524 Federal Agency Coupon Securities 467Federal Farm Credit Bank1092 1,000,000.00 992,600.00 07/12/20191.08007/10/2017 984,920.00 7323133EGLC7 1.456 1,249Federal Farm Credit Bank1105 1,000,000.00 992,200.00 09/01/20211.70011/09/2017 970,930.00 1,3923133EHWM1 1.913 1,123Federal Home Loan Bank1053 2,500,000.00 2,491,250.00 04/28/20211.35004/28/2016 2,408,950.00 1,8263130A7QZ1 1.423 939Federal Home Loan Bank1064 2,500,000.00 2,500,000.00 10/26/20201.37510/26/2016 2,429,425.00 1,4613130A9UQ2 1.375 894Federal Home Loan Bank1104 1,000,000.00 996,800.00 09/11/20201.62511/09/2017 981,860.00 1,0373130A66T9 1.741 1,123Federal Home Loan Mtg Corp1054 2,500,000.00 2,500,000.00 04/28/20211.25004/28/2016 2,460,175.00 1,8263134G8Y37 2.115 1,458Federal Home Loan Mtg Corp1073 2,000,000.00 1,990,000.00 03/29/20222.00003/29/2017 1,946,960.00 1,8263134GBAE2 2.106 1,368Federal Home Loan Mtg Corp1084 1,000,000.00 999,500.00 12/29/20212.00007/06/2017 975,820.00 1,6373134GBXF4 2.012 1,578Federal Home Loan Mtg Corp1090 1,000,000.00 1,000,000.00 07/27/20222.15007/27/2017 974,790.00 1,8263134GBWG3 2.150 1,765Federal Home Loan Mtg Corp1116 1,000,000.00 1,000,000.00 01/30/20232.55001/30/2018 987,930.00 1,8263134GSCD5 2.550 666Federal National Mtg Assn1072 2,000,000.00 2,000,000.00 01/27/20201.70003/27/2017 1,976,180.00 1,0363135G0S53 1.700 17,462,350.00 1,54117,097,940.0017,500,000.0017,462,350.00Subtotal and Average 1,116 1.812 Treasury Coupon Securities 1,186U.S. Treasury1045 5,000,000.00 5,000,000.00 06/30/20211.12507/18/2016 4,796,500.00 1,808912828S27 1.125 197U.S. Treasury1063 2,500,000.00 2,502,250.00 10/15/20180.87510/24/2016 2,485,250.00 721912828L81 0.829 730U.S. Treasury1068 2,500,000.00 2,483,250.00 03/31/20201.37503/20/2017 2,454,875.00 1,107912828J84 1.602 623U.S. Treasury1069 2,500,000.00 2,490,750.00 12/15/20191.37503/20/2017 2,462,700.00 1,000912828U73 1.513 1,309U.S. Treasury1070 2,000,000.00 1,942,800.00 10/31/20211.25003/27/2017 1,916,800.00 1,679912828T67 1.903 Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM2) 7.3.0 Report Ver. 7.3.6.1 38 Days to Maturity Page 2 Par Value Book Value Maturity Date Stated RateMarket Value March 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Treasury Coupon Securities 228U.S. Treasury1103 500,000.00 498,840.00 11/15/20181.25011/09/2017 497,635.00 371912828M64 1.481 867U.S. Treasury1117 1,000,000.00 985,800.00 08/15/20201.50001/22/2018 980,820.00 9369128282Q2 2.071 15,903,690.00 1,28615,594,580.0016,000,000.0017,837,359.35Subtotal and Average 836 1.379 Certificate of Deposits 414First Business Bank1019 240,000.00 240,000.00 05/20/20191.75005/20/2014 238,953.60 1,82631938QH72 1.751 599First Farmers Bank &Trust Co.1091 240,000.00 240,000.00 11/21/20191.65007/21/2017 237,187.20 853320165HX4 1.653 212First Merchants Bank1020 240,000.00 240,000.00 10/30/20181.50004/30/2014 239,956.80 1,64432082BDF3 1.501 1,401Third Federal Savings and Loan1112 245,000.00 245,000.00 01/31/20222.50001/30/2018 243,059.60 1,46288413QBY3 2.233 1,656Alliance Credit Union1095 245,000.00 245,000.00 10/13/20222.25010/13/2017 239,279.25 1,82601859BAA3 2.251 267Ally Bank Midvale1001 240,000.00 240,000.00 12/24/20181.70012/24/2015 239,512.80 1,09602006LWX7 1.702 1,114Amex Centurion1077 240,000.00 240,000.00 04/19/20212.25004/19/2017 236,071.20 1,46102587DP85 2.252 1,611American Express Fed Savings B1096 240,000.00 240,000.00 08/29/20222.40008/29/2017 234,739.20 1,82602587CFU9 2.402 1,816Aneca Federal Credit Union1119 245,000.00 245,000.00 03/22/20232.80003/22/2018 244,336.05 1,826034577AH9 2.802 1,668Barclays Bank1097 240,000.00 240,000.00 10/25/20222.30010/25/2017 234,823.20 1,82606740KLJ4 2.301 1,331Belmont Savings Bank1102 245,000.00 245,000.00 11/22/20212.10011/21/2017 239,872.15 1,462080515CD9 2.101 29Berkshire Bank1004 240,000.00 240,000.00 04/30/20181.35004/30/2014 240,019.20 1,461084601AL7 1.351 1,425BMW Bank1067 240,000.00 240,000.00 02/24/20222.20002/24/2017 235,370.40 1,82605580AGK4 2.201 1,019Bankers Bank1086 240,000.00 240,000.00 01/14/20211.80007/14/2017 234,643.20 1,28006610RAP4 1.804 1,163Capital One Natl Assn FDIC42971082 240,000.00 240,000.00 06/07/20212.25006/07/2017 236,952.00 1,46114042RGD7 2.252 801Capital One USA FDIC339541006 245,000.00 245,000.00 06/10/20201.90006/10/2015 241,792.95 1,827140420RX0 1.902 1,058Comenity Capital Bank1009 240,000.00 240,000.00 02/22/20211.70002/22/2016 233,700.00 1,82720033APG5 1.702 135CIT Bank UT1008 240,000.00 240,000.00 08/14/20181.90008/14/2013 240,170.40 1,82617284CKN3 1.901 1,200Central State Bank1085 240,000.00 240,000.00 07/14/20211.85007/14/2017 233,764.80 1,46115523RBJ4 1.851 65Compass Bank1010 248,000.00 248,000.00 06/05/20181.35006/05/2015 247,905.76 1,09620451PLG9 1.351 430Connect One1011 248,000.00 248,000.00 06/05/20191.50006/05/2015 246,494.64 1,46120786ABD6 1.501 29Cornerstone Community Bank1012 240,000.00 240,000.00 04/30/20181.35004/30/2014 239,983.20 1,461219240AZ1 1.351 29Crescent Bank and Trust1013 240,000.00 240,000.00 04/30/20181.30004/30/2014 239,973.60 1,461225645DC1 1.301 1,692CrossFirst Bank1106 245,000.00 245,000.00 11/18/20222.20011/20/2017 238,460.95 1,82422766ACB9 2.201 1,402Discover Bank Greenwood DE CF1066 240,000.00 240,000.00 02/01/20222.25002/01/2017 235,920.00 1,8262546722U1 2.251 660Douglas National Bank1093 240,000.00 240,000.00 01/21/20201.65007/19/2017 236,575.20 916259744DS6 1.655 1,702Enterprise Bank, NA1107 245,000.00 245,000.00 11/28/20222.15011/28/2017 237,855.80 1,82629367QCP1 2.151 394Ephrata Bank1016 240,000.00 240,000.00 04/30/20191.65004/30/2014 239,712.00 1,826294209AQ4 1.651 796EverBank1017248,000.00 248,000.00 06/05/20201.70006/05/2015 243,471.52 1,82729976DXX3 1.702 310Farmers & Merch1018 248,000.00 248,000.00 02/05/20191.25006/05/2015 246,457.44 1,341307814DC4 1.252 996Freedom Credit Union1111 245,000.00 245,000.00 12/22/20202.05012/22/2017 241,315.20 1,09635638BAA9 2.052 Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM2) 7.3.0 39 Days to Maturity Page 3 Par Value Book Value Maturity Date Stated RateMarket Value March 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Certificate of Deposits 414Gulf Coast Bank1024 240,000.00 240,000.00 05/20/20191.75005/19/2014 238,951.20 1,827402194EB6 1.724 1,486Goldman Sachs1078 240,000.00 240,000.00 04/26/20222.40004/26/2017 236,868.00 1,82638148PJK4 2.401 834First Bank of Highland1094 240,000.00 240,000.00 07/13/20201.75007/13/2017 235,617.60 1,096319141GT8 1.752 1,565HSBC Bank USA, National Associ1088 240,000.00 240,000.00 07/14/20222.30007/14/2017 235,488.00 1,82640434YLE5 2.301 772Jefferson Bank & Trust1100 245,000.00 245,000.00 05/12/20201.75011/09/2017 240,937.90 915472376AC6 1.751 1,507Kansas State Bank1101 245,000.00 245,000.00 05/17/20222.10011/17/2017 238,803.95 1,64250116CBE8 2.099 1,733Knoxville TVA Credit Union1110 245,000.00 245,000.00 12/29/20222.40012/29/2017 240,335.20 1,826499724AB8 2.401 65MB Financial Bank1027 248,000.00 248,000.00 06/05/20181.10006/05/2015 247,858.64 1,09655266CME3 1.101 24Medallion Bank1028 240,000.00 240,000.00 04/25/20181.35004/25/2014 239,985.60 1,46158403BL95 1.351 828Mercantile Bank of Michigan1087 240,000.00 240,000.00 07/07/20201.75007/07/2017 235,658.40 1,09658740XZL7 1.752 71MFR Trade & Trust1026 248,000.00 248,000.00 06/11/20181.20006/10/2015 247,811.52 1,097564759QT8 1.033 803Bank Midwest1002 248,000.00 248,000.00 06/12/20201.65006/12/2015 243,141.68 1,827063615AVO 1.652 596Morgan Stanley Bank1109 245,000.00 245,000.00 11/18/20191.80011/16/2017 242,755.80 73261747MA92 1.800 255Morton Community1030 248,000.00 248,000.00 12/12/20181.25006/12/2015 247,206.40 1,279619165GE7 1.251 38Merrick Bank1029 240,000.00 240,000.00 05/09/20181.35005/09/2014 240,021.60 1,46159012Y6Q5 1.351 596Morgan Stanley Private Bk, NA1108 245,000.00 245,000.00 11/18/20191.75011/16/2017 242,559.80 73261760AEP0 1.750 1,682Mountain America Federal CU1099 245,000.00 245,000.00 11/08/20222.30011/08/2017 239,597.75 1,82662384RAC0 2.301 1,389The Ohio Valley Bank1089 240,000.00 240,000.00 01/19/20221.90007/19/2017 232,929.60 1,645677721CN0 1.903 422Peapack-Gladstone Bank1031 240,000.00 240,000.00 05/28/20191.80005/28/2014 239,592.00 1,826704692AL6 1.801 1,151PrivateBank & Trust1032 240,000.00 240,000.00 05/26/20211.50005/26/2016 232,288.80 1,82674267GVG9 1.501 106Regal Bank1033 240,000.00 240,000.00 07/16/20181.40005/16/2014 239,976.00 1,52275874TAH4 1.401 967First Bank Richmond1081 245,000.00 245,000.00 11/23/20201.80006/21/2017 239,899.10 1,251319267GC8 1.802 522Riverwood1034248,000.00 248,000.00 09/05/20191.40006/05/2015 246,045.76 1,55376951DAL4 1.402 1,542Sallie Mae Bank Salt Lake CIty1083 240,000.00 240,000.00 06/21/20222.35006/21/2017 236,088.00 1,826795450A70 2.351 8South Atlantic1036 248,000.00 248,000.00 04/09/20181.00006/09/2015 247,967.76 1,03583637AAP9 1.001 429Solomon State1035 248,000.00 248,000.00 06/04/20191.40006/04/2015 246,502.08 1,46183427LAX2 1.401 751Stearnes Bank, N.A.1076 240,000.00 240,000.00 04/21/20201.60004/21/2017 235,425.60 1,096857894TC3 1.588 1,523Synchrony Bank Retail1080 240,000.00 240,000.00 06/02/20222.40006/02/2017 236,668.80 1,82687164XQV1 2.401 1,080Unity Bank1120 245,000.00 245,000.00 03/16/20212.55003/16/2018 244,314.00 1,09691330ABN6 2.553 387Webster Bank1042 240,000.00 240,000.00 04/23/20191.80004/23/2014 239,714.40 1,82694768NJQ8 1.801 331Wells Fargo1043 240,000.00 240,000.00 02/26/20191.20002/26/2016 239,176.80 1,0969497483N5 1.201 15,048,000.00 1,49114,868,517.0515,048,000.0015,027,483.87Subtotal and Average 827 1.809 Corporate Notes 1,221Apple Inc1079 500,000.00 493,050.00 08/04/20211.55006/12/2017 479,165.00 1,514037833CC2 1.900 334Johnson and Johnson Corp1075 2,000,000.00 1,993,200.00 03/01/20191.12503/29/2017 1,978,340.00 702478160BR4 1.305 Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM2) 7.3.0 40 Days to Maturity Page 4 Par Value Book Value Maturity Date Stated RateMarket Value March 31, 2018 Portfolio Details - Investments Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date Corporate Notes 676Microsoft Corporation1118 500,000.00 497,700.00 02/06/20201.85001/22/2018 495,015.00 745594918BV5 2.081 565Toyota Motor Credit Corp1098 500,000.00 498,750.00 10/18/20191.55011/07/2017 490,995.00 71089236TDH5 1.681 3,482,700.00 8243,443,515.003,500,000.003,482,700.00Subtotal and Average 542 1.554 Money Market with Fiscal Agent 1US Bank1058 21,050.62 21,050.6207/01/2016 21,050.62 1SYS1058 0.000 21,050.62 121,050.6221,050.624,442,170.88Subtotal and Average 1 0.000 Managed Pool Accounts-OPEB Trust 1CalPERS CERBT Plan1114 1,507,063.60 1,507,063.6012/18/2017 1,507,063.60 1SYS1114 0.000 1,507,063.60 11,507,063.601,507,063.601,529,131.76Subtotal and Average 1 0.000 559140,386,072.34 130,192,626.38 363 1.517129,083,161.67 130,041,366.38Total and Average Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM2) 7.3.0 41 Days to Maturity Page 5 Par Value Book Value Stated RateMarket Value March 31, 2018 Portfolio Details - Cash Average BalanceIssuer Portfolio Management City of La Quinta YTM 365TermCUSIPInvestment # Purchase Date 0.00 559140,386,072.34 130,192,626.38 363 1.517 0 0 120.99 120.99 120.99 120.99 Subtotal Accrued Interest at PurchaseAverage Balance 129,083,282.66 130,041,487.37Total Cash and Investments Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM2) 7.3.0 42 Page 1 Par Value Mat/Sale Settlement Date March 31, 2018 Portfolio Details - Pending Redemptions Issuer Portfolio Management City of La Quinta Security #Investment # Purchase Settlement Date Treasury Coupon Securities U.S. Treasury1071 03/31/201803/27/2017912828Q45 2,000,000.00 Subtotal 2,000,000.00 Total Pending Redemptions 2,000,000.00 Portfolio CITY CP Run Date: 04/30/2018 - 18:02 PM (PRF_PM7) 7.3.0 Report Ver. 7.3.6.1 43 City of La Quinta Total Earnings City of La Quinta - Sorted by Fund - Fund March 1, 2018 - March 31, 2018 Current Rate Ending Par Value Ending Fund Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted InterestAnnualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001001240,000.00 1.700ALLY 346.52 0.00 346.521.700101240,000.0002006LWX7 0.00 248,000.001002248,000.00 1.650MIDWES 347.54 0.00 347.541.650101248,000.00063615AVO 0.00 240,000.001004240,000.00 1.350BERKS 275.18 0.00 275.181.350101240,000.00084601AL7 0.00 245,000.001006245,000.00 1.900CAPONE 395.35 0.00 395.351.900101245,000.00140420RX0 0.00 0.0010070.00 1.000CAROL 122.30 0.00 122.301.000101248,000.0014376RAM9 0.00 240,000.001008240,000.00 1.900CITI 387.29 0.00 387.291.900101240,000.0017284CKN3 0.00 240,000.001009240,000.00 1.700CCBA 346.53 0.00 346.531.700101240,000.0020033APG5 0.00 248,000.001010248,000.00 1.350COMP 284.35 0.00 284.351.350101248,000.0020451PLG9 0.00 248,000.001011248,000.00 1.500CONNEC 315.95 0.00 315.951.500101248,000.0020786ABD6 0.00 240,000.001012240,000.00 1.350CORNER 275.18 0.00 275.181.350101240,000.00219240AZ1 0.00 240,000.001013240,000.00 1.300CRESC 264.99 0.00 264.991.300101240,000.00225645DC1 0.00 0.0010150.00 1.000EMBNAT 101.91 0.00 101.911.000101248,000.00290800AL5 0.00 240,000.001016240,000.00 1.650EPHRAT 336.33 0.00 336.331.650101240,000.00294209AQ4 0.00 248,000.001017248,000.00 1.700EVRBA 358.08 0.00 358.081.700101248,000.0029976DXX3 0.00 248,000.001018248,000.00 1.250FARMER 263.29 0.00 263.291.250101248,000.00307814DC4 0.00 240,000.001019240,000.00 1.7501STBUS 356.71 0.00 356.711.750101240,000.0031938QH72 0.00 240,000.001020240,000.00 1.5001STMER 305.76 0.00 305.761.500101240,000.0032082BDF3 0.00 240,000.001024240,000.00 1.750GCB 356.71 0.00 356.711.750101240,000.00402194EB6 0.00 248,000.001026248,000.00 1.200MFR 252.75 0.00 252.751.200101248,000.00564759QT8 0.00 248,000.001027248,000.00 1.100MBFIN 231.70 0.00 231.701.100101248,000.0055266CME3 0.00 240,000.001028240,000.00 1.350MEDBA 275.18 0.00 275.181.350101240,000.0058403BL95 0.00 240,000.001029240,000.00 1.350MRRCK 275.18 0.00 275.181.350101240,000.0059012Y6Q5 0.00 248,000.001030248,000.00 1.250MORTN 263.29 0.00 263.291.250101248,000.00619165GE7 0.00 240,000.001031240,000.00 1.800PEAPAC 366.91 0.00 366.911.800101240,000.00704692AL6 0.00 240,000.001032240,000.00 1.500PRVTBA 305.75 0.00 305.751.500101240,000.0074267GVG9 0.00 240,000.001033240,000.00 1.400REGAL 285.37 0.00 285.371.400101240,000.0075874TAH4 0.00 248,000.001034248,000.00 1.400RVRW 294.88 0.00 294.881.400101248,000.0076951DAL4 0.00 248,000.001035248,000.00 1.400SOLOM 294.88 0.00 294.881.400101248,000.0083427LAX2 0.00 248,000.001036248,000.00 1.000SOATL 210.63 0.00 210.631.000101248,000.0083637AAP9 0.00 240,000.001042240,000.00 1.800WEB 366.90 0.00 366.901.800101240,000.0094768NJQ8 0.00 Portfolio CITY CP Run Date: 05/03/2018 - 10:58 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.144 Current Rate Ending Par Value Ending Fund Page 2 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest March 1, 2018 - March 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 240,000.001043240,000.00 1.200WELLS 244.60 0.00 244.601.200101240,000.009497483N5 0.00 5,000,000.0010455,000,000.00 1.125USTR 4,816.99 0.00 4,816.991.1341015,000,000.00912828S27 0.00 2,491,250.0010532,500,000.00 1.350FHLB 2,812.50 0.00 2,812.501.3291012,491,250.003130A7QZ1 0.00 2,500,000.0010542,500,000.00 1.250FHLMC 2,604.17 0.00 2,604.171.2261012,500,000.003134G8Y37 0.00 49,203,382.37105549,203,382.37 1.524LAIF 60,623.08 0.00 60,623.081.50410147,203,382.3798-33-434 0.00 2,429,776.4710572,429,776.47WELLS 0.01 0.00 0.011017,937,217.204159282482 0.00 1,700.0010591,700.00CITYPC 0.00 0.00 0.001011,700.00SYS1059 0.00 2,502,250.0010632,500,000.00 0.875USTR 1,862.98 0.00 1,862.980.8771012,502,250.00912828L81 0.00 2,500,000.0010642,500,000.00 1.375FHLB 2,864.59 0.00 2,864.591.3491012,500,000.003130A9UQ2 0.00 240,000.001066240,000.00 2.250DISCOV 458.63 0.00 458.632.250101240,000.002546722U1 0.00 240,000.001067240,000.00 2.200BMW 448.44 0.00 448.442.200101240,000.0005580AGK4 0.00 2,483,250.0010682,500,000.00 1.375USTR 2,927.02 0.00 2,927.021.3881012,483,250.00912828J84 0.00 2,490,750.0010692,500,000.00 1.375USTR 2,927.54 0.00 2,927.541.3841012,490,750.00912828U73 0.00 1,942,800.0010702,000,000.00 1.250USTR 2,140.89 0.00 2,140.891.2971011,942,800.00912828T67 0.00 0.0010710.00 0.875USTR 1,442.31 0.00 3,317.310.8781011,998,125.00912828Q45 1,875.00 2,000,000.0010722,000,000.00 1.700FNMA 2,833.33 0.00 2,833.331.6681012,000,000.003135G0S53 0.00 1,990,000.0010732,000,000.00 2.000FHLMC 3,333.33 0.00 3,333.331.9721011,990,000.003134GBAE2 0.00 1,993,200.0010752,000,000.00 1.125J&J 1,875.00 0.00 1,875.001.1081011,993,200.00478160BR4 0.00 240,000.001076240,000.00 1.600STRNS 326.14 0.00 326.141.600101240,000.00857894TC3 0.00 240,000.001077240,000.00 2.250AMEX 458.63 0.00 458.632.250101240,000.0002587DP85 0.00 240,000.001078240,000.00 2.400GLDMAN 489.21 0.00 489.212.400101240,000.0038148PJK4 0.00 493,050.001079500,000.00 1.550APPL 645.83 0.00 645.831.542101493,050.00037833CC2 0.00 240,000.001080240,000.00 2.400SYNCHR 489.21 0.00 489.212.400101240,000.0087164XQV1 0.00 245,000.001081245,000.00 1.800RICHMN 374.55 0.00 374.551.800101245,000.00319267GC8 0.00 240,000.001082240,000.00 2.250CAP1NA 458.63 0.00 458.632.250101240,000.0014042RGD7 0.00 240,000.001083240,000.00 2.350SALMAE 479.01 0.00 479.012.350101240,000.00795450A70 0.00 999,500.0010841,000,000.00 2.000FHLMC 1,666.67 0.00 1,666.671.963101999,500.003134GBXF4 0.00 240,000.001085240,000.00 1.850CNTRL 377.09 0.00 377.091.850101240,000.0015523RBJ4 0.00 240,000.001086240,000.00 1.800BNKRS 366.91 0.00 366.911.800101240,000.0006610RAP4 0.00 240,000.001087240,000.00 1.750MERCTL 356.72 0.00 356.721.750101240,000.0058740XZL7 0.00 240,000.001088240,000.00 2.300HSBC 468.82 0.00 468.822.300101240,000.0040434YLE5 0.00 240,000.001089240,000.00 1.900OHVAL 387.29 0.00 387.291.900101240,000.00677721CN0 0.00 1,000,000.0010901,000,000.00 2.150FHLMC 1,791.66 0.00 1,791.662.1101011,000,000.003134GBWG3 0.00 240,000.001091240,000.00 1.6501STFRM 336.33 0.00 336.331.650101240,000.00320165HX4 0.00 992,600.0010921,000,000.00 1.080FFCB 900.00 0.00 900.001.068101992,600.003133EGLC7 0.00 240,000.001093240,000.00 1.650DOUGLS 336.32 0.00 336.321.650101240,000.00259744DS6 0.00 240,000.001094240,000.00 1.750HIGHLD 356.71 0.00 356.711.750101240,000.00319141GT8 0.00 Portfolio CITY CP Run Date: 05/03/2018 - 10:58 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.145 Current Rate Ending Par Value Ending Fund Page 3 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest March 1, 2018 - March 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss Fund: General Fund 245,000.001095245,000.00 2.250ALLIAN 468.19 0.00 468.192.250101245,000.0001859BAA3 0.00 240,000.001096240,000.00 2.400AMFSB 489.21 0.00 489.212.400101240,000.0002587CFU9 0.00 240,000.001097240,000.00 2.300BARCLY 468.83 0.00 468.832.300101240,000.0006740KLJ4 0.00 498,750.001098500,000.00 1.550TOYOTA 645.84 0.00 645.841.525101498,750.0089236TDH5 0.00 245,000.001099245,000.00 2.300MTNAMR 478.58 0.00 478.582.300101245,000.0062384RAC0 0.00 245,000.001100245,000.00 1.750JFFRSN 364.14 0.00 364.141.750101245,000.00472376AC6 0.00 245,000.001101245,000.00 2.100KANSAS 436.97 0.00 436.972.100101245,000.0050116CBE8 0.00 245,000.001102245,000.00 2.100BELMNT 436.98 0.00 436.982.100101245,000.00080515CD9 0.00 498,840.001103500,000.00 1.250USTR 535.22 0.00 535.221.263101498,840.00912828M64 0.00 996,800.0011041,000,000.00 1.625FHLB 1,354.17 0.00 1,354.171.600101996,800.003130A66T9 0.00 992,200.0011051,000,000.00 1.700FFCB 1,416.67 0.00 1,416.671.681101992,200.003133EHWM1 0.00 245,000.001106245,000.00 2.200CRS1ST 457.78 0.00 457.782.200101245,000.0022766ACB9 0.00 245,000.001107245,000.00 2.150ENTRPR 447.38 0.00 447.382.150101245,000.0029367QCP1 0.00 245,000.001108245,000.00 1.750MSPRIV 364.14 0.00 364.141.750101245,000.0061760AEP0 0.00 245,000.001109245,000.00 1.800MORGST 374.55 0.00 374.551.800101245,000.0061747MA92 0.00 245,000.001110245,000.00 2.400KNOX 499.40 0.00 499.402.400101245,000.00499724AB8 0.00 245,000.001111245,000.00 2.050FREECU 426.57 0.00 426.572.050101245,000.0035638BAA9 0.00 245,000.001112245,000.00 2.5003RD 520.21 0.00 520.212.500101245,000.0088413QBY3 0.00 1,507,063.6011141,507,063.60CALPRS 0.00 0.00 0.001011,529,867.37SYS1114 0.00 1,000,000.0011161,000,000.00 2.550FHLMC 2,125.00 0.00 2,125.002.5021011,000,000.003134GSCD5 0.00 985,800.0011171,000,000.00 1.500USTR 1,284.53 0.00 1,284.531.534101985,800.009128282Q2 0.00 497,700.001118500,000.00 1.850MCRSFT 770.83 0.00 770.831.824101497,700.00594918BV5 0.00 245,000.001119245,000.00 2.800ANECA 187.95 0.00 187.952.8001010.00034577AH9 0.00 245,000.001120245,000.00 2.550UNITY 273.86 0.00 273.862.5501010.0091330ABN6 0.00 105,189,922.44Subtotal 105,038,662.44 1.393 130,846.530.00128,971.53110,573,031.94 1,875.00 Fund: 1st Empire Securities Cash Bal 65,528.24106065,528.24EMPIRE 12.18 0.00 12.180.5041020.00SYS1060 0.00 65,528.24Subtotal 65,528.24 0.504 12.180.0012.180.00 0.00 Fund: Fiscal Agent 21,050.62105821,050.62USBANK 1,170.72 0.00 1,170.720.3102314,589,541.56SYS1058 0.00 21,050.62Subtotal 21,050.62 0.310 1,170.720.001,170.724,589,541.56 0.00 Fund: Housing Authority : WSA and LQ 1,073,290.9810611,073,290.98WSALQ 0.00 0.00 0.002411,212,531.95SYS1061 0.00 195,448.931062195,448.93LQPR 0.00 0.00 0.00241179,708.41SYS1062 0.00 Portfolio CITY CP Run Date: 05/03/2018 - 10:58 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.146 Current Rate Ending Par Value Ending Fund Page 4 Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/ Earnings Adjusted Interest March 1, 2018 - March 31, 2018 Total Earnings City of La Quinta Annualized YieldCUSIP Investment # Interest EarnedIssuer Realized Gainl/Loss 1,268,739.91Subtotal 1,268,739.91 0.000.000.001,392,240.36 0.00 Fund: SA Low/Mod Bond Fund 23,647,385.17111323,647,385.17 1.524LAIF 30,729.16 0.00 30,729.161.50924925,647,385.1725-33-005 0.00 23,647,385.17Subtotal 23,647,385.17 1.509 30,729.160.0030,729.1625,647,385.17 0.00 130,192,626.38Total 130,041,366.38 1.365 162,758.590.00160,883.59142,202,199.03 1,875.00 Portfolio CITY CP Run Date: 05/03/2018 - 10:58 TE (PRF_TE) 7.3.6 Report Ver. 7.3.6.147 City of La Quinta -City of La Quinta Maturity Report Sorted by Maturity Date Amounts due during January 1, 2018 - March 31, 2018 Rate at MaturityPar Value Sec. TypeFund Maturity Date Maturity ProceedsInterest Income Net CUSIP Investment #Issuer Purchase Date Book Value at Maturity 248,000.00 0.900 248,189.57189.5706/12/2015INDEP102545383UQY4MC110101/12/2018 189.57248,000.00 240,000.00 1.250 240,756.16756.1604/29/20143RD103888413QAN8MC110101/29/2018 756.16240,000.00 248,000.00 1.000 248,183.45183.4506/17/2015EMBNAT1015290800AL5MC110103/16/2018 183.45248,000.00 248,000.00 1.000 248,190.25190.2506/19/2015CAROL100714376RAM9MC110103/19/2018 190.25248,000.00 2,000,000.00 0.875 2,008,750.008,750.0003/27/2017USTR1071912828Q45TRC10103/31/2018 10,625.001,998,125.00 2,994,069.43Total Maturities 2,984,000.00 10,069.432,982,125.00 11,944.43 Portfolio CITY CP Run Date: 04/24/2018 - 16:39 MA (PRF_MA) 7.1.1 Report Ver. 7.3.6.148 City of La Quinta -City of La Quinta Purchases Report Sorted by Fund - Fund January 1, 2018 - March 31, 2018 Original Par Value Ending Book Value Sec. TypeFund Maturity YTM Accrued Interest at PurchasePayment Periods DateCUSIPInvestment #Issuer Purchase Date Principal Purchased Rate at Purchase General Fund 500,000.00 1.850 02/06/2020 497,700.00497,700.00 Received01/22/2018 2.08102/06 - 08/06MCRSFT1118594918BV5MC2101 1,000,000.00 1.500 08/15/2020 985,800.00985,800.00 Received01/22/2018 2.07102/15 - 08/15USTR11179128282Q2TRC101 245,000.00 2.500 01/31/2022 245,000.00245,000.0001/30/2018 2.23306/30 - 12/313RD111288413QBY3MC1101 1,000,000.00 2.550 01/30/2023 1,000,000.001,000,000.0001/30/2018 2.55007/30 - 01/30FHLMC11163134GSCD5FAC101 245,000.00 2.550 03/16/2021 245,000.00245,000.0003/16/2018 2.55304/16 - MonthlyUNITY112091330ABN6MC1101 245,000.00 2.800 03/22/2023 245,000.00245,000.0003/22/2018 2.80209/22 - 03/22ANECA1119034577AH9MC1101 Subtotal 3,218,500.003,218,500.00 0.003,235,000.00 3,218,500.00Total Purchases 3,235,000.00 0.00 3,218,500.00 Received = Accrued Interest at Purchase was received by report ending date. Portfolio CITY CP Run Date: 04/24/2018 - 16:04 PU (PRF_PU) 7.1.1 Report Ver. 7.3.6.1 49 US Treasury Rates https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yieldYear&year=2018 Commercial Paper Rates https://www.federalreserve.gov/releases/cp/rates.htm 50 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ACCEPT ON-SITE IMPROVEMENTS ASSOCIATED WITH THE LA QUINTA RESORT AND SPA (PARCEL MAP NO. 29724) LOCATED ON AVENIDA OBREGON SOUTH OF AVENIDA FERNANDO RECOMMENDATION Accept on-site improvements associated with Parcel Map No. 29724, La Quinta Resort and Spa; authorize staff to release the performance security; and direct staff to release the labor and materials security 90 days after City Council acceptance of the improvements. EXECUTIVE SUMMARY The on-site improvements are located on Avenida Obregon south of Avenida Fernando (Attachment 1). All on-site work has been completed. Staff recommends acceptance and release of the performance, labor, and materials securities. FISCAL IMPACT – None. BACKGROUND/ANALYSIS KSL Desert Resorts, Inc. (Developer) has completed all on-site improvements required by Parcel Map No. 29724. These include pavement, curb, curb ramps, signing and striping for parking. Staff inspected the improvements and verified they meet City-approved plans. ALTERNATIVES Staff does not recommend an alternative action. Prepared by: Bryan McKinney, P.E., City Engineer Approved by: Frank J. Spevacek, City Manager Attachment: 1. Vicinity Map CONSENT CALENDAR ITEM NO. 3 51 52 V I C I N I T Y M A P NOT TO SCALE ATTACHMENT 1 parcel map no. 29724 53 54 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ADOPT A RESOLUTION REQUESTING COUNTY OF RIVERSIDE PLACE COLLECTION COSTS FOR SOLID WASTE HANDLING SERVICES AT SINGLE- FAMILY DWELLINGS ON TAX ROLLS RECOMMENDATION Adopt a Resolution requesting the County of Riverside place collection costs of solid waste handling services for single-family dwellings on the Tax Rolls. EXECUTIVE SUMMARY •The County Tax Assessor requires Council to annually adopt a resolution requesting solid waste collection services be placed on the residential Tax Rolls. •May 3, 2016, Council approved an Amended and Restated Agreement (Agreement) with Burrtec Waste and Recycling Services (Burrtec) that included property tax roll billing for residential customers. FISCAL IMPACT - None BACKGROUND/ANALYSIS The City contracts with Burrtec for solid waste collection, handling, and street sweeping services. The Agreement stipulates that the cost for single-family dwelling services will be collected on the Tax Rolls. Section 24 of the Agreement states Burrtec can adjust the rates per the Consumer Price Index and any increases from the Transfer Station (Attachment 1). Single-Family Dwelling 2017 Rate (existing) 2018 Rate (proposed) Service Component of Maximum Rate $9.62/month $10.25/month Disposal Component of Maximum Rate $4.15/month $4.50/month AB 939 Fee $0.10/month $0.10/month Total Rate $13.87/month $166.44/year $14.85/month $178.20/year Additional Refuse Cart $7.01/month $84.12/year $7.28/month $87.36/year Backyard Service CONSENT CALENDAR ITEM NO. 4 55 For refuse and first recycling carts/containers $6.61/month $79.32/year $6.86/month $82.32/year  For each additional cart/container $6.61/month $79.32/year $6.86/month $82.32/year Surcharge for Homeowners’ Associations Desiring Monday Service 10 percent of Service Component These service costs are not subject to Proposition 218 (which provides that all taxes and most charges are subject to voter approval) because the Council does not set rates but instead establishes a rate ceiling pursuant to its regulatory authority. The Council may adjust the maximum rate ceiling each year. ALTERNATIVES Staff does not recommend an alternative. Prepared by: Gil Villalpando, Business Analyst Approved by: Frank J. Spevacek, City Manager Attachment: 1. Burrtec Notification 56 RESOLUTION NO. 2018 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, REQUESTING THE COUNTY OF RIVERSIDE TO PLACE COLLECTION OF COSTS FOR SOLID WASTE HANDLING SERVICES AT SINGLE-FAMILY DWELLINGS ON THE TAX ROLLS WHEREAS, the La Quinta City Council wishes to ensure the uniform collection of rates for solid waste handling services at single-family dwellings by placing collection thereof on the County of Riverside Tax Assessor’s Tax Rolls; and WHEREAS, the attached Exhibit A sets forth the maximum rates that may be collected for solid waste handling services at single-family dwellings in the City of La Quinta pursuant to a franchise agreement with an Effective Date of July 1, 2018, entitled “Agreement Between The City of La Quinta and Burrtec Waste and Recycling Services, LLC, for Solid Waste Handling Services”; and WHEREAS, the City of La Quinta has determined that applicable provisions, if any, of Proposition 218 (Articles XIII C and XIII D of the California Constitution) have been satisfied in connection with the matters addressed by the Resolution; and NOW, THEREFORE, BE IT RESOLVED by the City of La Quinta, to adopt as follows: SECTION 1. The City Council hereby requests the Riverside County Tax Assessor to place collection of costs for solid waste handling services at single-family dwellings in the City on the County’s tax rolls (Exhibit A). PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta City Council held on this 15TH day of May, 2018, by the following vote: AYES: NOES: ABSENT: ABSTAIN: _____________________________ LINDA EVANS, Mayor City of La Quinta, California 57 Resolution No. 2018- Residential Waste Fee Schedule Adopted: May 15, 2018 Page 2 of 3 ATTEST: __________________________________________ MONIKA RADEVA, Deputy City Clerk City of La Quinta, California (CITY SEAL) APPROVED AS TO FORM: _______________________________________ WILLIAM H. IHRKE, City Attorney City of La Quinta, California 58 Resolution No. 2018- Residential Waste Fee Schedule Adopted: May 15, 2018 Page 3 of 3 EXHIBIT A 59 60 61 62 63 64 6665 66 67 68 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: AUTHORIZE OVERNIGHT TRAVEL FOR FACILITIES MANAGEMENT ASSISTANT TO ATTEND THE AMERICANS FOR THE ARTS ANNUAL CONVENTION IN DENVER, COLORADO, JUNE 13-17, 2018 RECOMMENDATION Authorize overnight travel for the Facilities Management Assistant to attend the Americans for the Arts Annual Convention in Denver, Colorado, June 13-17, 2018 EXECUTIVE SUMMARY •Community leaders from across the country come together at the Americans for the Arts Annual Convention (Convention) to discuss issues related to art in public places (APP) and community development. •The convention provides an opportunity for staff to receive an education in public art, and build a network of contacts for APP. FISCAL IMPACT Estimated cost is $2,500, which includes registration, travel, lodging, and meals. Funds are available in the 2017/18 travel and training budget (101-3008-60320 and 101-7003- 60320). BACKGROUND/ANALYSIS The Convention provides a unique experience for community leaders in APP to share experiences and ideas with other agencies about public art. Attendees can learn how APP impacts communities and how to plan for community art projects and permanent/temporary programs. The Convention consists of four days of educational sessions and networking opportunities with experts in the field of public art. The Facilities department oversees installation and maintenance of the City’s public art. The Facilities Management Assistant helps to coordinate the work that needs to be done to properly place and securely install the art work. ALTERNATIVES Council may choose to deny this travel request. Prepared by: Dianne Hansen, Management Assistant Approved by: Steve Howlett, Facilities Director CONSENT CALENDAR ITEM NO. 5 69 70 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE DEMAND REGISTERS DATED APRIL 27 AND MAY 4, 2018 RECOMMENDATION Approve demand registers dated April 27 and May 4, 2018. EXECUTIVE SUMMARY – None FISCAL IMPACT Demand of Cash: City 891,203.41$ Successor Agency of RDA 8,515.19$ Housing Authority -$ 899,718.60$ BACKGROUND/ANALYSIS Between Council meetings, routine bills and payroll must be paid. Attachment 1 details the weekly demand registers for April 27 and May 4, 2018. Warrants Issued: 118411-118480 297,624.43$ 118481-118554 175,788.91$ Wire Transfers 205,869.17$ Void (14,230.00)$ Payroll Tax transfers 40,507.36$ Payroll Chks 37326-37329 & Direct Deposit 194,158.73$ 899,718.60$ In the amounts listed above, check No.117014 was voided and reissued because the check was lost in the mail. CONSENT CALENDAR ITEM NO. 6 71 The most significant expenditures on the demand register are: Account Name Amount Vocademy LLC Building 66,622.00$ Library Makerspace Improvements Equipment NAI Consulting INC Various 45,362.50$ Mar- Project Management Services Conserve Landcare Landscape Contract 39,268.34$ Apr - Citywide Landscape Maintenance Bengal Engineering INC Design 28,936.01$ Dune Palms Road Design Services LTAS Technologies Professional Service 27,433.50$ STVRP Compliance Service PurposeVendor Wire Transfers: Four transfers totaled $205,869.17. Of this amount $37,699.39 was for CalPERS; $160,963.94 for Landmark, and $5,467.88 for the International City/County Management Association (ICMA). (See Attachment 2 for a full listing). ALTERNATIVES Council may approve, partially approve, or reject the demand registers. Prepared by: Derrick Armendariz, Account Technician Approved by: Rosemary Hallick, Financial Services Analyst Attachments: 1. Demand Registers 2.Wire Transfers 72 4/27/2018 11:31:46 AM Page 1 of 7 Demand Register City of La Quinta, CA Packet: APPKT01572 - DA 04/27/18 AmountVendor Name Payment Number Description (Item)Account Name Account Number Fund: 101 - GENERAL FUND 103.00STVR Registration Fee03/30/2018- REFUND DENIED PERMIT118411ALEXANDER, CHRISTIANNE 101-0000-41415 179.97Maintenance/Services03/30-04/12/18- WC JANITORIAL SUPPLIES118412AMERIPRIDE SERVICES INC 101-3008-60691 9,476.33Professional ServicesRECRUITMENT SERVICES - D&D DIRECTOR …118415BLACK & COMPANY LLC, TERI 101-1002-60103 50.00Miscellaneous Deposits04/23/18- FACILITY RENTAL DEPOSIT REF…118417CABRERA, JESSIE 101-0000-22830 1,645.68Utilities - Water - Civic Center …04/19/18- WATER SERVICE118420COACHELLA VALLEY WATER DI…101-3005-61202 2,737.84Utilities - Water -Community P…04/19/18- WATER SERVICE118420COACHELLA VALLEY WATER DI…101-3005-61209 149.69Utilities - Water - Civic Center …04/19/18- WATER SERVICES118420COACHELLA VALLEY WATER DI…101-3005-61202 1,630.95Utilities - Water -Fritz Burns pa…04/19/18- WATER SERVICES118420COACHELLA VALLEY WATER DI…101-3005-61204 201.96Utilities - Water04/19/18- WATER SERVICES118420COACHELLA VALLEY WATER DI…101-3008-61200 157.74Utilities - Water04/19/18- WATER SERVICES118420COACHELLA VALLEY WATER DI…101-3008-61200 1,216.00Landscape ContractCITYWIDE LANDSCAPE SERVICES FOR L&L …118422CONSERVE LANDCARE 101-2002-60112 798.00Fritz Burns Pool04/11/18- FB POOL HEALTH PERMIT118423COUNTY OF RIVERSIDE DEPAR…101-3005-60184 30.00Cash Over/Short02/20/18- REFUND DUPLICATE BUS LIC.118424CYNTHIA MYERS GLASS 101-0000-42300 119.88Citywide Conf Room Supplies04/10/18- CITYWIDE COFFEE SUPPLIES118425DAIOHS FIRST CHOICE SERVICES 101-1007-60403 53.94Citywide Conf Room Supplies04/18/18- CITYWIDE COFFEE SUPPLIES118425DAIOHS FIRST CHOICE SERVICES 101-1007-60403 109.70Citywide Conf Room Supplies04/18/18- COFFEE SUPPLIES118425DAIOHS FIRST CHOICE SERVICES 101-1007-60403 186.76Community Experiences03/10/18- DYO EVENT FEES FOR TRACK U…118426DESERT SANDS UNIFIED SCHO…101-3003-60149 47.89Subscriptions & Publications05/2018- SUBSCRIPTION SERVICE118427DESERT SUN, THE 101-6001-60352 434.80SB 1186 Revenue01/2018-03/2018- SB1186 FEES 10%118428DIVISION OF THE STATE ARCHI…101-0000-42130 1,297.50Plan ChecksON CALL BUILDING PLAN REVIEW & INSPE…118430ESGIL CORPORATION 101-6003-60118 85.20Postage04/13/18- OVERNIGHT MAIL118431FEDEX 101-1007-60470 20,000.00Professional ServicesClassification and Compensation Study118434FOX LAWSON & ASSOCIATES 101-1004-60103 7,000.00Professional ServicesClassification and Compensation Study118434FOX LAWSON & ASSOCIATES 101-1004-60103 50.00Administrative Citation Services04/26/18- REFUND FTB GARNISHMENT L…118437GARCIA, CYNTHIA 101-6004-60111 19.75Professional Services03/2018- ARMORED SERVICES118438GARDAWORLD 101-1006-60103 100.00Cash Over/Short03/26/18- REFUND OVERPAYMENT BUS LI…118439GLICKSTEIN, SHELLEY 101-0000-42300 3,500.00Contract Services - Administrat…STATE LOBBYING AND ADVOCACY SERVIC…118440GONSALVES, JOE A & SON 101-1002-60101 112.50Prepaid Expense04/01/18-03/31/19- MEMBERSHIP DUES -…118441GOVERNMENT FINANCE OFFIC…101-0000-13600 37.50Membership Dues04/01/18-03/31/19- MEMBERSHIP DUES -…118441GOVERNMENT FINANCE OFFIC…101-1006-60351 125.00Prepaid Expense05/01/18-04/30/19- MEMBERSIP DUES - …118441GOVERNMENT FINANCE OFFIC…101-0000-13600 25.00Membership Dues05/01/18-04/30/19- MEMBERSHIP DUES -…118441GOVERNMENT FINANCE OFFIC…101-1006-60351 531.91Operating Supplies04/13/18- INSPECTOR SUPPLIES118442HUB CONSTRUCTION SPECIALT…101-7006-60420 8,312.50Marketing & Tourism Promoti…FY 17/18 PRINT & DIGITAL MARKETING SE…118444JNS MEDIA SPECIALISTS 101-3007-60461 3,125.00Marketing & Tourism Promoti…FY 17/18 PRINT & DIGITAL MARKETING SE…118444JNS MEDIA SPECIALISTS 101-3007-60461 45.00Cash Over/Short04/10/18- REFUND DUPLICATE PAYMENT …118445L'ABRI VACATION RENTALS 101-0000-42300 56.33Cash Over/Short04/11/18- REFUND OVERPAYMENT TOT118447LEON/BAUGE CONDO RENTAL 101-0000-42300 53.88Materials/Supplies04/18/18- CITY HALL KEYS118448LOCK SHOP INC, THE 101-3008-60431 27,433.50Professional ServicesSTVR COMPLIANCE VENDORS SERVICES FY…118449LTAS TECHNOLOGIES INC 101-6001-60103 18.43Cash Over/Short04/10/18- OVERPAYMENT TOT118450MARTIN, DANIEL 101-0000-42300 96.94Materials/Supplies04/10/18- SAW CHAINS118452MOWERS PLUS INC 101-3005-60431 23,922.50ConsultantsPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 101-7006-60104 4,000.00PostageNEO POST - POSTAGE MACHINE REFILL118454NEOFUNDS BY NEOPOST 101-1007-60470 10.00Digitization/Records Manage…03/14/18- REFUND INCORRECT APPLICATI…118455NEVELS-YANCHAR, STPHANIE 101-0000-42416 257.00Temporary Use Permit03/14/18- REFUND INCORRECT APPLICATI…118455NEVELS-YANCHAR, STPHANIE 101-0000-42439 4.90Credit Card Fee Revenue03/14/18- REFUND INCORRECT APPLICATI…118455NEVELS-YANCHAR, STPHANIE 101-0000-43505 134.09Forms04/09/18-CITYWIDE WINDOW ENVELOPES118456OFFICE DEPOT 101-1007-60402 272.48Forms04/03/18- 6 BOXES CITYWIDE PAPER 8 1/…118456OFFICE DEPOT 101-1007-60402 128.31Office Supplies04/11/18- OFFICE SUPPLIES118456OFFICE DEPOT 101-6001-60400 413.50Forms04/11/18- CITYWIDE PAPER118456OFFICE DEPOT 101-1007-60402 145.99Office Supplies04/17/18- OFFICE SUPPLIES118456OFFICE DEPOT 101-1006-60400 -33.26Office Supplies04/23/18- RETURNED WHITE BOARD118456OFFICE DEPOT 101-1006-60400 45.02Office Supplies04/19/18- 2 WHITE BOARDS118456OFFICE DEPOT 101-1006-60400 55.06Office Supplies04/23/18- OFFICE SUPPLIES118456OFFICE DEPOT 101-1005-60400 Attachment 1 73 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 2 of 7 AmountVendor Name Payment Number Description (Item)Account Name Account Number 474.60Temporary Agency Services02/23/18- CC TEMP SERVICES118457OFFICE TEAM 101-1005-60125 925.47Temporary Agency Services04/13/18- CC TEMP SERVICES118457OFFICE TEAM 101-1005-60125 1,842.00Fire Plan Review Deposits04/24/18- FIRE INSP RFND FSS2017-26,27,…118458ON GUARD FIRE PROTECTION 101-0000-22811 -1,053.00Fire Plan Review Fee04/24/18- FIRE INSP RFND FSS2017-26,27,…118458ON GUARD FIRE PROTECTION 101-0000-42420 225.00Pest Control10/27/17- RODENT TRAPPING SPORTS C…118459ON THE FLY TERMITE & PEST …101-3008-60116 9.58Postage03/31/18- OVERNIGHT MAIL118460ONTRAC 101-1007-60470 201.34Cash Over/Short04/19/18- REFUND OVERPAYMENT TOT118461PALM SPRINGS VACATION H…101-0000-42300 165.84Prepaid Expense04/18/18- TRAINING118462PRYOR SEMINARS, FRED 101-0000-13600 33.16Travel & Training04/18/18- TRAINING118462PRYOR SEMINARS, FRED 101-1006-60320 20,888.00ConsultantsPROFESSIONAL INSPECTION SERVICES118463PSOMAS INC 101-7006-60104 829.27Maintenance/Services04/13/18- FS#93 PM2 INSP SVC118464QUINN COMPANY 101-2002-60691 601.39Maintenance/Services04/13/18- FS#70 PM2 INSP SVC118464QUINN COMPANY 101-2002-60691 748.85Annual Permits/Inspections04/10/18- CITY HALL EAST INSPEC SVC118464QUINN COMPANY 101-3008-60196 665.09Maintenance/Services04/10/18- FS #32 INSP SVC118464QUINN COMPANY 101-2002-60691 644.15Annual Permits/Inspections04/10/18- WC INSP SVC118464QUINN COMPANY 101-3008-60196 781.71Repair & Maintenance - EOC04/10/18- CITY HALL EOC INSP SVC118464QUINN COMPANY 101-2002-60671 480.00Map/Plan CheckingON-CALL MAP CHECKING SERVICES118466RASA/ERIC NELSON 101-7002-60183 580.00Map/Plan CheckingON-CALL MAP CHECKING SERVICES118466RASA/ERIC NELSON 101-7002-60183 50.00Cash Over/Short03/12/18- REFUND OVERPAYMENT BUS LI…118467RELIABLE ROOFING BY TGY 101-0000-42300 116.99Office Supplies02/14/18- OFFICE SUPPLIES118468STAPLES ADVANTAGE 101-6001-60400 126.90Office Supplies04/17/18- OFFICE SUPPLIES118468STAPLES ADVANTAGE 101-6001-60400 37.51Office Supplies04/17/18- OFFICE SUPPLIES118468STAPLES ADVANTAGE 101-6001-60400 75.52Materials/Supplies04/18/18-LIBRARY BOX REPAINT118469THE SHERWIN-WILLIAMS CO.101-3005-60431 47.44Supplies-Graffiti and Vandalism04/19/18- FB PARK GRAFFITI REMOVAL118469THE SHERWIN-WILLIAMS CO.101-3005-60423 70.12Utilities - Cable04/16-05/15/18- FS#32 CABLE118470TIME WARNER CABLE 101-2002-61400 25.27Utilities - Cable04/16-05/15/18- FS#70 CABLE118470TIME WARNER CABLE 101-2002-61400 95.20Utilities - Cable04/24-05/23/18- FS#93 CABLE118470TIME WARNER CABLE 101-2002-61400 20.52Materials/Supplies04/17/18- SMOKING AREA SIGN YARD BL…118471TOPS'N BARRICADES INC 101-3008-60431 269.67Materials/Supplies04/10/18- CITY HALL TOWELS118473ULINE 101-3008-60431 2,000.00AuditorsFINANCIAL AUDITING SERVICES118474VAVRINEK, TRINE, DAY & CO., …101-1006-60106 293.87Materials/Supplies04/13/18- FB PARK TENNIS COURT LED L…118476WALTERS WHOLESALE ELECTR…101-3005-60431 822.26Contract Traffic EngineerON-CALL TRAFFIC ENGINEERING SERVICES118477WILLDAN 101-7006-60144 665.00Contract Traffic EngineerON-CALL TRAFFIC ENGINEERING SERVICES118477WILLDAN 101-7006-60144 2,010.00Contract Traffic EngineerON-CALL TRAFFIC ENGINEERING SERVICES118477WILLDAN 101-7006-60144 25.83Printing04/16/18- STREET SIGN PRESENTATION118479XPRESS GRAPHICS 101-3007-60410 45.42Marketing & Tourism Promoti…04/16/18- STREET SIGN PROMOTION118479XPRESS GRAPHICS 101-3007-60461 2,295.00Plan ChecksYoung Engineering- On-Call Building Inspe…118480YOUNG ENGINEERING SVC 101-6003-60118 Fund 101 - GENERAL FUND Total:158,846.63 Fund: 201 - GAS TAX FUND 255.76Safety Gear03/22/18- SAFETY GLASSES118414BIG STATE INDUSTRIAL SUPPLY 201-7003-60427 10.13Paint/Legends04/20/18- PAINT LEGENDS GLASS BLADES118469THE SHERWIN-WILLIAMS CO.201-7003-60433 151.16Materials/Supplies04/10/18- TRAILS PARKING SIGN118471TOPS'N BARRICADES INC 201-7003-60431 274.97Traffic Control Signs04/17/18- SIGNS & POSTS118471TOPS'N BARRICADES INC 201-7003-60429 Fund 201 - GAS TAX FUND Total:692.02 Fund: 202 - LIBRARY & MUSEUM FUND 68.41Operating Supplies04/05/18- DIA DE LOS NINOS SUPPLIES118475WALMART COMMUNITY 202-3004-60420 Fund 202 - LIBRARY & MUSEUM FUND Total:68.41 Fund: 215 - LIGHTING & LANDSCAPING FUND 6,909.24Utilities - Water - Medians04/19/18- WATER SERVICES118420COACHELLA VALLEY WATER DI…215-7004-61211 2,041.25Materials/Supplies03/15/18- STORMWATER PROTECTION/T…118421COAST RECREATION INC 215-7004-60431 38,052.34Landscape ContractCITYWIDE LANDSCAPE SERVICES FOR L&L …118422CONSERVE LANDCARE 215-7004-60112 97.76Utilities - Electric04/07-05/06/18- PHONE SERVICE118435FRONTIER COMMUNICATIONS…215-7004-61116 37.78Utilities - Electric04/10-05/09/18- PHONE SERVICE118435FRONTIER COMMUNICATIONS…215-7004-61116 290.98Utilities - Electric04/18/18- ELECTRICITY SERVICE118443IMPERIAL IRRIGATION DIST 215-7004-61116 38.65Utilities - Electric - Medians04/18/18- ELECTRICITY SERVICE118443IMPERIAL IRRIGATION DIST 215-7004-61117 26.89Supplies-Graffiti and Vandalism04/20/18- GRAFFITI PAINT118469THE SHERWIN-WILLIAMS CO.215-7004-60423 743.63Materials/Supplies04/16/18- ELECTRICAL MATERIALS118476WALTERS WHOLESALE ELECTR…215-7004-60431 Fund 215 - LIGHTING & LANDSCAPING FUND Total:48,238.52 74 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 3 of 7 AmountVendor Name Payment Number Description (Item)Account Name Account Number Fund: 217 - DEVELOPMENT AGREEMENT 290.00Land AcquisitionFRONTIER PROPERTY WALL118453NAI CONSULTING INC 217-0000-74010 Fund 217 - DEVELOPMENT AGREEMENT Total:290.00 Fund: 221 - AB 939 - CALRECYCLE FUND 769.34AB 939 Recycling Solutions04/05/18- PROMO TENT FOR RECYCLING118479XPRESS GRAPHICS 221-0000-60127 234.45AB 939 Recycling Solutions04/17/18- RECYCLE PROMOTION118479XPRESS GRAPHICS 221-0000-60127 Fund 221 - AB 939 - CALRECYCLE FUND Total:1,003.79 Fund: 235 - SO COAST AIR QUALITY FUND 9,068.32CVAG10/01-12/31/17- 2 QTR VEHICLE REG MOU118419COACHELLA VALLEY ASSOC OF…235-0000-60186 Fund 235 - SO COAST AIR QUALITY FUND Total:9,068.32 Fund: 237 - SUCCESSOR AGCY PA 1 ADMIN 3,006.00Consultants04/13/18- BOND DISCLOSURES118478WILLDAN FINANCIAL SERVICES 237-9001-60104 Fund 237 - SUCCESSOR AGCY PA 1 ADMIN Total:3,006.00 Fund: 241 - HOUSING AUTHORITY 450.28Temporary Agency Services04/06/18- HOUSING AUTHORITY TEMP118457OFFICE TEAM 241-9101-60125 477.40Temporary Agency Services04/13/18- HOUSING AUTHORITY TEMP118457OFFICE TEAM 241-9101-60125 1,000.00AuditorsFINANCIAL AUDITING SERVICES118474VAVRINEK, TRINE, DAY & CO., …241-9101-60106 Fund 241 - HOUSING AUTHORITY Total:1,927.68 Fund: 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014) 223.19Relocation Benefits03/31/18- WSA SERVICES118416BURRTEC WASTE & RECYCLING…248-9102-60159 1,762.00Prepaid ItemsRENT PAYMENT - MEDITERRA APARTMENT…118451MEDITERRA APARTMENT HO…248-0000-13600 3,524.00Relocation BenefitsRENT PAYMENT - MEDITERRA APARTMENT…118451MEDITERRA APARTMENT HO…248-9102-60159 Fund 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014) Total:5,509.19 Fund: 270 - ART IN PUBLIC PLACES FUND 340.73APP Fees04/18/18- REFUND INCORRECT PAYMENT118446LENNAR HOMES OF CALIFORN…270-0000-43201 Fund 270 - ART IN PUBLIC PLACES FUND Total:340.73 Fund: 401 - CAPITAL IMPROVEMENT PROGRAMS 28,936.01DesignDUNE PALMS BRIDGE LOW WATER CROSS…118413BENGAL ENGINEERING INC 401-0000-60185 626.00ConstructionMMU REPAIR118429ECONOLITE CONTROL PRODU…401-0000-60188 13,378.97ConstructionFERGUSON CORIAN SINK118432FERGUSON ENTERPRISES, INC 401-0000-60188 143.36Construction04/12/18- BATHROOM REMODEL SOAP DI…118432FERGUSON ENTERPRISES, INC 401-0000-60188 62.35Construction04/18/18- BATHROOM SEAT COVER DISP…118432FERGUSON ENTERPRISES, INC 401-0000-60188 241.75Construction04/11/18- BATHROOM REMODEL TISSUE …118432FERGUSON ENTERPRISES, INC 401-0000-60188 440.00Professional ServicesBPMP BRIDGE PREVENTATIVE MAINT PLAN118453NAI CONSULTING INC 401-0000-60103 65.00Professional ServicesSSAR SYS SAFETY ANALYSIS RPT118453NAI CONSULTING INC 401-0000-60103 190.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 435.00Professional ServicesEISENHOWER RETENTION BASIN LANDSC…118453NAI CONSULTING INC 401-0000-60103 1,515.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 870.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 1,725.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 1,015.00Professional ServicesSB821 LQ HIGH ADA118453NAI CONSULTING INC 401-0000-60103 2,702.50Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 1,305.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 3,382.50Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 1,150.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 2,435.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 725.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 725.00Professional ServicesSB821 JEFFERSON SIDEWALK GAP CLOSURE118453NAI CONSULTING INC 401-0000-60103 870.00Professional ServicesJEFFERSON/AVENUE 53 ROUNDABOUT118453NAI CONSULTING INC 401-0000-60103 725.00Professional ServicesPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60103 580.00Professional ServicesCALLE TAMPICO DRAINAGE118453NAI CONSULTING INC 401-0000-60103 295.00DesignPROFESSIONAL ENGINEERING SERVICES118453NAI CONSULTING INC 401-0000-60185 56.00TechnicalPROFESSIONAL INSPECTION SVCS118463PSOMAS INC 401-0000-60108 102.92Construction04/09/18- AVE 52 ROUND ABOUT LIGHTI…118476WALTERS WHOLESALE ELECTR…401-0000-60188 78.44Construction04/19/18- AVE 52 ROUND ABOUT LIGHTI…118476WALTERS WHOLESALE ELECTR…401-0000-60188 Fund 401 - CAPITAL IMPROVEMENT PROGRAMS Total:64,775.80 Fund: 501 - FACILITY & FLEET REPLACEMENT 411.00Car Washes04/31/18- CAR WASHES118465RAN AUTO DETAIL 501-0000-60148 75 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 4 of 7 AmountVendor Name Payment Number Description (Item)Account Name Account Number 1,721.06Fuel & Oil04/01-04/15/18- UNLEAD/DIESEL FUEL118472TOWER ENERGY GROUP 501-0000-60674 Fund 501 - FACILITY & FLEET REPLACEMENT Total:2,132.06 Fund: 502 - INFORMATION TECHNOLOGY 5.00Technology Enhancement Sur…03/30/2018- REFUND DENIED PERMIT118411ALEXANDER, CHRISTIANNE 502-0000-43611 42.99Operating Supplies04/18/18- COMPUTER SUPPLIES118418CDW GOVERNMENT INC 502-0000-60420 800.00Consultants03/2018- COUNCIL MTG VIDEO118433FISHER INTEGRATED INC 502-0000-60104 91.98Technical04/10-05/19/18- CITY HALL INTERNET118436FRONTIER-INTERNET 502-0000-60108 5.00Technology Enhancement Sur…03/14/18- REFUND INCORRECT APPLICATI…118455NEVELS-YANCHAR, STPHANIE 502-0000-43611 66.37Utilities - Cable01/12-02/11/18- CITY YARD CABLE118470TIME WARNER CABLE 502-0000-61400 66.37Utilities - Cable02/12-03/11/18- CITY YARD CABLE118470TIME WARNER CABLE 502-0000-61400 66.37Utilities - Cable03/12-04/11/18- CITY YARD CABLE118470TIME WARNER CABLE 502-0000-61400 68.79Utilities - Cable04/12-05/11/18- CITY YARD CABLE118470TIME WARNER CABLE 502-0000-61400 66.37Utilities - Cable12/12/17-01/11/18- CITY YARD CABLE118470TIME WARNER CABLE 502-0000-61400 Fund 502 - INFORMATION TECHNOLOGY Total:1,279.24 Fund: 601 - SILVERROCK RESORT 354.53Bank Fees03/2018- SRR ARMORED SERVICES118438GARDAWORLD 601-0000-60455 91.51Bank Fees03/2018- SRR ARMORED SERVICE118438GARDAWORLD 601-0000-60455 Fund 601 - SILVERROCK RESORT Total:446.04 Grand Total:297,624.43 76 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 5 of 7 Fund Summary Fund Expense Amount 101 - GENERAL FUND 158,846.63 201 - GAS TAX FUND 692.02 202 - LIBRARY & MUSEUM FUND 68.41 215 - LIGHTING & LANDSCAPING FUND 48,238.52 217 - DEVELOPMENT AGREEMENT 290.00 221 - AB 939 - CALRECYCLE FUND 1,003.79 235 - SO COAST AIR QUALITY FUND 9,068.32 237 - SUCCESSOR AGCY PA 1 ADMIN 3,006.00 241 - HOUSING AUTHORITY 1,927.68 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)5,509.19 270 - ART IN PUBLIC PLACES FUND 340.73 401 - CAPITAL IMPROVEMENT PROGRAMS 64,775.80 501 - FACILITY & FLEET REPLACEMENT 2,132.06 502 - INFORMATION TECHNOLOGY 1,279.24 601 - SILVERROCK RESORT 446.04 Grand Total:297,624.43 Account Summary Account Number Account Name Expense Amount 101-0000-13600 Prepaid Expense 403.34 101-0000-22811 Fire Plan Review Deposits 1,842.00 101-0000-22830 Miscellaneous Deposits 50.00 101-0000-41415 STVR Registration Fee 103.00 101-0000-42130 SB 1186 Revenue 434.80 101-0000-42300 Cash Over/Short 501.10 101-0000-42416 Digitization/Records Man…10.00 101-0000-42420 Fire Plan Review Fee -1,053.00 101-0000-42439 Temporary Use Permit 257.00 101-0000-43505 Credit Card Fee Revenue 4.90 101-1002-60101 Contract Services - Admini…3,500.00 101-1002-60103 Professional Services 9,476.33 101-1004-60103 Professional Services 27,000.00 101-1005-60125 Temporary Agency Servic…1,400.07 101-1005-60400 Office Supplies 55.06 101-1006-60103 Professional Services 19.75 101-1006-60106 Auditors 2,000.00 101-1006-60320 Travel & Training 33.16 101-1006-60351 Membership Dues 62.50 101-1006-60400 Office Supplies 157.75 101-1007-60402 Forms 820.07 101-1007-60403 Citywide Conf Room Suppl…283.52 101-1007-60470 Postage 4,094.78 101-2002-60112 Landscape Contract 1,216.00 101-2002-60671 Repair & Maintenance - E…781.71 101-2002-60691 Maintenance/Services 2,095.75 101-2002-61400 Utilities - Cable 190.59 101-3003-60149 Community Experiences 186.76 101-3005-60184 Fritz Burns Pool 798.00 101-3005-60423 Supplies-Graffiti and Van…47.44 101-3005-60431 Materials/Supplies 466.33 101-3005-61202 Utilities - Water - Civic Ce…1,795.37 101-3005-61204 Utilities - Water -Fritz Bur…1,630.95 101-3005-61209 Utilities - Water -Commun…2,737.84 101-3007-60410 Printing 25.83 101-3007-60461 Marketing & Tourism Pro…11,482.92 101-3008-60116 Pest Control 225.00 101-3008-60196 Annual Permits/Inspectio…1,393.00 101-3008-60431 Materials/Supplies 344.07 101-3008-60691 Maintenance/Services 179.97 77 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 6 of 7 Account Summary Account Number Account Name Expense Amount 101-3008-61200 Utilities - Water 359.70 101-6001-60103 Professional Services 27,433.50 101-6001-60352 Subscriptions & Publicati…47.89 101-6001-60400 Office Supplies 409.71 101-6003-60118 Plan Checks 3,592.50 101-6004-60111 Administrative Citation Se…50.00 101-7002-60183 Map/Plan Checking 1,060.00 101-7006-60104 Consultants 44,810.50 101-7006-60144 Contract Traffic Engineer 3,497.26 101-7006-60420 Operating Supplies 531.91 201-7003-60427 Safety Gear 255.76 201-7003-60429 Traffic Control Signs 274.97 201-7003-60431 Materials/Supplies 151.16 201-7003-60433 Paint/Legends 10.13 202-3004-60420 Operating Supplies 68.41 215-7004-60112 Landscape Contract 38,052.34 215-7004-60423 Supplies-Graffiti and Van…26.89 215-7004-60431 Materials/Supplies 2,784.88 215-7004-61116 Utilities - Electric 426.52 215-7004-61117 Utilities - Electric - Media…38.65 215-7004-61211 Utilities - Water - Medians 6,909.24 217-0000-74010 Land Acquisition 290.00 221-0000-60127 AB 939 Recycling Solutions 1,003.79 235-0000-60186 CVAG 9,068.32 237-9001-60104 Consultants 3,006.00 241-9101-60106 Auditors 1,000.00 241-9101-60125 Temporary Agency Servic…927.68 248-0000-13600 Prepaid Items 1,762.00 248-9102-60159 Relocation Benefits 3,747.19 270-0000-43201 APP Fees 340.73 401-0000-60103 Professional Services 20,855.00 401-0000-60108 Technical 56.00 401-0000-60185 Design 29,231.01 401-0000-60188 Construction 14,633.79 501-0000-60148 Car Washes 411.00 501-0000-60674 Fuel & Oil 1,721.06 502-0000-43611 Technology Enhancement…10.00 502-0000-60104 Consultants 800.00 502-0000-60108 Technical 91.98 502-0000-60420 Operating Supplies 42.99 502-0000-61400 Utilities - Cable 334.27 601-0000-60455 Bank Fees 446.04 Grand Total:297,624.43 Project Account Summary Project Account Key Expense Amount **None**232,661.87 091002P 870.00 091004P 2,435.00 111205D 28,936.01 111205P 2,702.50 151603P 3,382.50 151612P 2,820.00 1718CPMD 295.00 1718PMPP 1,305.00 1718TMICT 807.36 201601P 1,150.00 201602P 190.00 78 Demand Register Packet: APPKT01572 - DA 04/27/18 4/27/2018 11:31:46 AM Page 7 of 7 Project Account Summary Project Account Key Expense Amount 201603P 1,725.00 201606P 725.00 201703FFE 13,826.43 201703T 56.00 201704P 435.00 201705P 1,015.00 201706P 725.00 201707P 440.00 201708P 65.00 201709P 870.00 DYOE 186.76 Grand Total:297,624.43 79 5/3/2018 4:44:22 PM Page 1 of 5 Demand Register City of La Quinta, CA Packet: APPKT01579 - DA 05/04/18 AmountVendor Name Payment Number Description (Item)Account Name Account Number Fund: 101 - GENERAL FUND 714.73Public Works Permits05/02/18- REFUND INCORRECT PERMIT A…118481ALLEN NARCISSE/LYFT 101-0000-43632 500.00Community Experiences05/05/18- TACOS & TEQUILA INSURANCE118482ALLIANT INSURANCE SERVICES …101-3003-60149 569.00Community Experiences04/25/18- CITY BDAY PICNIC INSURANCE118482ALLIANT INSURANCE SERVICES …101-3003-60149 160.00Blood/Alcohol Testing03/15/18- BLOOD ANALYSIS118483AMERICAN FORENSIC NURSES …101-2001-60174 196.05LT Care Insurance PayLONG TERM CARE118485CALPERS LONG-TERM CARE P…101-0000-20949 5.25TOT - Short Term Vac. Rentals04/19/18- REFUND LATE FEES118488CESPEDES, MARIO 101-0000-41401 170.00Sheriff - Other03/23/18- EVIDENCE TOW LA180810099118489CLASSIC AUTO TRANSPORT 101-2001-60176 78.40Instructors04/28/18- CARDIO STRENTH118490COHEN, ANN MARIE 101-3002-60107 696.26Administrative Citation Services03/2018- POLICE DAILY CITATION118492DATA TICKET, INC.101-6004-60111 35.00Blood/Alcohol Testing03/2018- BLOOD ANALYSIS118494DEPARTMENT OF JUSTICE 101-2001-60174 3.00Business Licenses04/18/18- OVERPAYMENT118496ELIAS, DIEGO 101-0000-41600 34.78LQ Police Volunteers04/11/18- BATTERIES FOR COP FLASHLIGH…118497FOSTER, ROCIO 101-2001-60109 30.08Utilities - Gas03/21-04/19/18- FS #32 GAS SERVICE118498GAS COMPANY, THE 101-2002-61100 132.23Utilities - Gas03/21-04/19/18- CITY HALL GAS SERVICE118498GAS COMPANY, THE 101-3008-61100 81.10Utilities - Gas03/21-04/19/18- WC GAS SERVICE118498GAS COMPANY, THE 101-3008-61100 500.00ConsultantsCONSULTING SVCS FOR FACILITIES DEPT A…118499HENSON CONSULTING GROUP 101-3005-60104 645.99Operating Supplies09/21/18- POLICE CAR DECALS118501INTERNATIONAL NAMEPLATE …101-2001-60420 645.99Operating Supplies11/22/17- POLICE CAR DECALS118501INTERNATIONAL NAMEPLATE …101-2001-60420 645.99Operating Supplies02/02/18- POLICE CAR DECALS118501INTERNATIONAL NAMEPLATE …101-2001-60420 -33.86Sales Taxes Payable04/24/18- WINDOW ENVELOPES STVRP118502JET GRAPHICS INC 101-0000-20304 450.28Office Supplies04/24/18- WINDOW ENVELOPES STVRP118502JET GRAPHICS INC 101-6001-60400 121.60Instructors04/28/18- PERSONAL TRAINER118503KEPLER, KRISTOFFER 101-3002-60107 224.00Instructors04/28/18- PERSONAL TRAINER118503KEPLER, KRISTOFFER 101-3002-60107 1,650.00Maintenance/Services04/23/18- SEASONS PARK CLEANUP118505KIRKPATRICK LANDSCAPING S…101-3005-60691 394.01Maintenance/Services04/30/2018- FS#32 COOLING MIST SYSTE…118506KOOLFOG, INC 101-2002-60691 50.00Cash Over/Short06/23/17- REFUND OVERPAYMENT TOT118508LA QUINTA VACATION RENTAL 101-0000-42300 102.00Cash Over/Short02/24/18- REFUND OVERPAYMENT STVR118508LA QUINTA VACATION RENTAL 101-0000-42300 30.00Cash Over/Short04/26/18- REFUND OVERPAYMENT BUS LI…118509L'ABRI VACATION RENTALS 101-0000-42300 120.00Travel & Training05/09/18- MEMBERSHIP MEETING118510LEAGUE OF CALIFORNIA CITIES 101-1001-60320 160.00Travel & Training05/09/18- MEMBERSHIP MEETING118510LEAGUE OF CALIFORNIA CITIES 101-1002-60320 15.56Materials/Supplies03/26-04/23/18- BRACKETS BEAR CREEK T…118511LOWE'S HOME IMPROVEMENT…101-3005-60431 37.11Materials/Supplies03/26-04/23/18- CITY HALL LIGHTS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 47.84Materials/Supplies03/26-04/23/18- WC MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 2.58Materials/Supplies03/26-04/23/18- CITY HALL MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 41.96Materials/Supplies03/26-04/23/18- WC MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 24.50Materials/Supplies03/26-04/23/18- WC MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 30.97Materials/Supplies03/26-04/23/18- CITY HALL MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 13.64Materials/Supplies03/26-04/23/18- CITY HALL PARKING LOT…118511LOWE'S HOME IMPROVEMENT…101-3008-60431 36.15Materials/Supplies03/26-04/23/18- CITY HALL MATERIALS118511LOWE'S HOME IMPROVEMENT…101-3008-60431 46.36Tools/Equipment03/26-04/23/18- MATERIALS118511LOWE'S HOME IMPROVEMENT…101-7003-60432 25.80Tools/Equipment03/26-04/23/18- MATERIALS118511LOWE'S HOME IMPROVEMENT…101-7003-60432 -10.32Tools/Equipment03/26-04/23/18- MATERIALS RETURN118511LOWE'S HOME IMPROVEMENT…101-7003-60432 26.03Safety Gear03/26-04/23/18- WATER COOLER118511LOWE'S HOME IMPROVEMENT…101-7006-60427 19.00Cash Over/Short06/23/18- REFUND DUPLICATE PYMT BUS …118512MASUNO, MITSURU 101-0000-42300 168.07Operating Supplies04/23/18- OPERATING SUPPLIES118513MCDOWELL AWARDS 101-3002-60420 160.00Instructors04/28/18- LA QUINTA VOICES118514MEEDS, WAYNE 101-3002-60107 20.00Digitization/Records Manage…04/24/18- REFUND INCORRECT PERMIT T…118515MONTGOMERY, DARREN 101-0000-42416 900.00Lot Cleaning04/23/18- LOT ABATEMENT 18-288/18-29…118516MOYA, DANIEL 101-6004-60120 18.00Cash Over/Short04/16/18- REFUND OVERPAYMENT BUS LI…118517NAI CONSULTING INC 101-0000-42300 14.45Office Supplies04/18/18- OFFICE SUPPLIES118519OFFICE DEPOT 101-1002-60400 80.48LQ Police Volunteers04/09/18- POLICE BUSINESS CARDS118519OFFICE DEPOT 101-2001-60109 27.25Office Supplies04/17/18- OFFICE DEPOT118519OFFICE DEPOT 101-3001-60400 949.20Temporary Agency Services04/20/18- CC TEMP SERVICES118520OFFICE TEAM 101-1005-60125 80 Demand Register Packet: APPKT01579 - DA 05/04/18 5/3/2018 4:44:22 PM Page 2 of 5 AmountVendor Name Payment Number Description (Item)Account Name Account Number 949.20Temporary Agency Services04/27/18- CC TEMP118520OFFICE TEAM 101-1005-60125 946.91Marketing & Tourism Promoti…04/24/18- CITY PICNIC PROMO PRODUCTS118521PALMS TO PINES PRINTING 101-3007-60461 3.00Cash Over/Short04/26/18- REFUND OVERPAYMENT BUS LI…118523PAYLESS GROUP OF COMPANI…101-0000-42300 1,200.00Marketing & Tourism Promoti…05/07/18- PHOTOGRAPHY SERVICES118524PETERSON, GREGORY E 101-3007-60461 3,750.78Maintenance/Services04/26/18- FS #32 LIGHT CONTROL REPLAC…118525PRIORITY LIGHTING 101-2002-60691 360.00Map/Plan CheckingON-CALL MAP CHECKING SERVICES118526RASA/ERIC NELSON 101-7002-60183 21,099.05Professional Services04/19/18- WHITEWATER NPDES COST SH…118527RIVERSIDE COUNTY FLOOD C…101-7002-60103 787.96Operating Supplies03/2018- DUAL BAND RADIOS118528RIVERSIDE COUNTY INFORMAT…101-2001-60420 200.00Garnishments PayableGARNISHMENT118529RIVERSIDE DEPARTMENT OF C…101-0000-20985 685.48Instructors04/28/18- TAEKWONDO118530ROJAS, MIGUEL ANGEL 101-3002-60107 71.40Instructors04/28/18- ZUMBA118531SALCEDO, KATHLEEN KENNEDY 101-3002-60107 161.00Instructors04/28/18- BALLROOM DANCING118532SHIRY, TERESA 101-3002-60107 18.36LQ Police Volunteers04/15/18- POLICE SHREDDING118533SHRED-IT USA - SAN BERNADI…101-2001-60109 20.00Golf Cart Permits04/19/18- REFUND GOLF CARD PERMIT118534SILVA, VICTOR 101-0000-42406 55.34Operating Supplies04/30/18- VOLUNTEER LUNCHEON SUPPL…118535SMART & FINAL 101-3002-60420 220.99Operating Supplies04/03/18- OPERATING SUPPLIES118535SMART & FINAL 101-3002-60420 72.00Instructors04/27/18- PERSONAL TRAINER118536SNYDER, JANICE 101-3002-60107 230.81Operating Supplies04/20/18- DRINKING WATER118537SPARKLETTS 101-7003-60420 1,500.00Veterinary Service04/14/18- SNIP ANIMAL SERVICES118538SPAY NEUTER IMPERATIVE PR…101-6004-60194 129.39Special Enforcement Funds04/05/18- INK118539STAPLES ADVANTAGE 101-2001-60175 -90.36Special Enforcement Funds04/05/18- POLICE DISPLAY CREDIT118539STAPLES ADVANTAGE 101-2001-60175 31.39Office Supplies04/16/18- OPERATING SUPPLIES118539STAPLES ADVANTAGE 101-3002-60400 88.03Operating Supplies04/16/18- OPERATING SUPPLIES118539STAPLES ADVANTAGE 101-3003-60420 106.92Office Supplies04/24/18- POCKET FOLDERS118539STAPLES ADVANTAGE 101-6001-60400 86.55Office Supplies04/24/18- OFFICE SUPPLIES118539STAPLES ADVANTAGE 101-1004-60400 14.13Office Supplies04/24/18- OFFICE SUPPLIES118539STAPLES ADVANTAGE 101-3001-60400 129.28Office Supplies04/28/18- OFFICE SUPPLIES118539STAPLES ADVANTAGE 101-6001-60400 3,557.53Prepaid Expense10/01/17-09/30/18- PERMIT FEES118540SWRCB 101-0000-13600 10,672.47Professional Services10/01/17-09/30/18- PERMIT FEES118540SWRCB 101-7002-60103 6,466.25Marketing & Tourism Promoti…ADVERTISING CONTRACT118541THE CHAMBER 101-3007-60461 5,000.00Marketing & Tourism Promoti…ADVERTISING CONTRACT118541THE CHAMBER 101-3007-60461 5.00Cash Over/Short04/25/18- REFUND OVERPAYMENT LICEN…118542TILE KING INC 101-0000-42300 392.48Safety Gear04/16/18- CONST INSPECTOR SAFETY GEAR118544TOPS'N BARRICADES INC 101-7006-60427 137.50Travel & Training04/10/18- POSITION BUDGETNG TRAINING…118545TYLER TECHNOLOGIES 101-1006-60320 62.00United Way DeductionsCONTRIBUTION118546UNITED WAY OF THE DESERT 101-0000-20981 2,800.00AuditorsFINANCIAL AUDITING SERVICES118548VAVRINEK, TRINE, DAY & CO., …101-1006-60106 51.01Utilities - Telephone03/14-04/13/18- EOC WIRELESS SERVICE118549VERIZON WIRELESS 101-2002-61300 189.00Instructors04/28/18- GENTLE YOGA118550VIELHARBER, KAREN 101-3002-60107 58.80Instructors04/28/18- EVENING YOGA118553WILSON, ALBA 101-3002-60107 62.10Marketing & Tourism Promoti…04/26/18- CITY PICNIC SIGNAGE118554XPRESS GRAPHICS 101-3007-60461 Fund 101 - GENERAL FUND Total:74,088.26 Fund: 201 - GAS TAX FUND 23.46Materials/Supplies03/26-04/23/18- MAINT MATERIALS118511LOWE'S HOME IMPROVEMENT…201-7003-60431 10.40Materials/Supplies03/26-04/23/18- MATERIALS118511LOWE'S HOME IMPROVEMENT…201-7003-60431 1,729.13Traffic Control Signs04/24/18- SIGN & CONE SLEEVES118544TOPS'N BARRICADES INC 201-7003-60429 Fund 201 - GAS TAX FUND Total:1,762.99 Fund: 202 - LIBRARY & MUSEUM FUND 2,000.00Maintenance/Services04/24/18- MUSEUM CARPET118486CARPET EMPIRE PLUS 202-3006-60691 16.42Utilities - Gas03/21-04/21/18- LIBRARY GAS SERVICE118498GAS COMPANY, THE 202-3004-61100 1,800.00Museum OperationsARCHIVING SERVICES FOR LQ HISTORICAL …118522PARKOS-MARTINEZ, SHERRY A 202-3006-60105 110.41Operating Supplies04/05/18- DIA DE LOS NINOS SUPPLIES118535SMART & FINAL 202-3004-60420 25.97Operating Supplies04/05/18- DIA DE LOS NINOS SUPPLIES118535SMART & FINAL 202-3004-60420 66,622.00Building ImprovementsLQ LIBRARY MAKERSPACE IMPLEMENTATI…118551VOCADEMY LLC 202-3004-72110 Fund 202 - LIBRARY & MUSEUM FUND Total:70,574.80 Fund: 215 - LIGHTING & LANDSCAPING FUND 495.00Maintenance/Services03/19/18- IRRIGATION SERVICE118491CONSERVE LANDCARE 215-7004-60691 593.75ConsultantsCONSULTING SVCS FOR FACILITIES DEPT A…118499HENSON CONSULTING GROUP 215-7004-60104 1,285.00Supplies-Graffiti and Vandalism04/18/18- ELECTRICAL SERVICE DESERT C…118507KRIBBS, BRUCE 215-7004-60423 81 Demand Register Packet: APPKT01579 - DA 05/04/18 5/3/2018 4:44:22 PM Page 3 of 5 AmountVendor Name Payment Number Description (Item)Account Name Account Number 16.50Materials/Supplies03/26-04/23/18- MATERIALS118511LOWE'S HOME IMPROVEMENT…215-7004-60431 Fund 215 - LIGHTING & LANDSCAPING FUND Total:2,390.25 Fund: 221 - AB 939 - CALRECYCLE FUND 3,543.38AB 939 Recycling Solutions04/24/18- RECYCLED SHOPPER TOTE118521PALMS TO PINES PRINTING 221-0000-60127 Fund 221 - AB 939 - CALRECYCLE FUND Total:3,543.38 Fund: 270 - ART IN PUBLIC PLACES FUND 1,541.61Art Purchases03/01/18- APP CIVIC CENTER FINAL PAYM…118495DOLAN GEIMAN INC 270-0000-74800 Fund 270 - ART IN PUBLIC PLACES FUND Total:1,541.61 Fund: 310 - LQ FINANCE AUTHORITY DEBT SERVICE 500.00Contract Services FeesANNUAL REPORT118548VAVRINEK, TRINE, DAY & CO., …310-9501-60181 Fund 310 - LQ FINANCE AUTHORITY DEBT SERVICE Total:500.00 Fund: 401 - CAPITAL IMPROVEMENT PROGRAMS 8,854.43DesignON-CALL PROFESSIONAL SVCS118500HERMANN DESIGN GROUP INC 401-0000-60185 3,153.40DesignKIMLEY HORN - SYSTEMIC SAFETY ANALYS…118504KIMLEY-HORN AND ASSOCIAT…401-0000-60185 18.81Construction03/26-04/23/18- CLEANING SUPPLIES118511LOWE'S HOME IMPROVEMENT…401-0000-60188 10.31Construction03/26-04/23/18- SUPPLIES118511LOWE'S HOME IMPROVEMENT…401-0000-60188 1,891.14Construction04/18/18- FLASHING BEACON MADISON &…118518NEXTECH 401-0000-60188 3,750.00ConstructionNORTH LA QUINTA TURF CONVERSION - A…118547URBAN HABITAT ENVIRONME…401-0000-60188 112.06Construction04/11/18- AVE 52 ROUND ABOUT LIGHTI…118552WALTERS WHOLESALE ELECTR…401-0000-60188 Fund 401 - CAPITAL IMPROVEMENT PROGRAMS Total:17,790.15 Fund: 501 - FACILITY & FLEET REPLACEMENT 9.34Parts & Maintenance Supplies04/13/18- MOTOR TREATMENT118484AUTOZONE 501-0000-60675 Fund 501 - FACILITY & FLEET REPLACEMENT Total:9.34 Fund: 502 - INFORMATION TECHNOLOGY 5.00Technology Enhancement Sur…05/02/18- REFUND INCORRECT PERMIT A…118481ALLEN NARCISSE/LYFT 502-0000-43611 12.54Computers04/25/18- WC COMPUTER FAN118487CDW GOVERNMENT INC 502-0000-80103 3,196.59Computers05/2018- DELL LEASE FINAL PAYMENT118493DELL FINANCIAL SERVICES 502-0000-80103 135.02Utilities - Cable05/2018- CITY HALL CABLE118543TIME WARNER CABLE 502-0000-61400 238.98Utilities - Cable04/24-05/23/18- WC CABLE SERVICE118543TIME WARNER CABLE 502-0000-61400 Fund 502 - INFORMATION TECHNOLOGY Total:3,588.13 Grand Total:175,788.91 82 Demand Register Packet: APPKT01579 - DA 05/04/18 5/3/2018 4:44:22 PM Page 4 of 5 Fund Summary Fund Expense Amount 101 - GENERAL FUND 74,088.26 201 - GAS TAX FUND 1,762.99 202 - LIBRARY & MUSEUM FUND 70,574.80 215 - LIGHTING & LANDSCAPING FUND 2,390.25 221 - AB 939 - CALRECYCLE FUND 3,543.38 270 - ART IN PUBLIC PLACES FUND 1,541.61 310 - LQ FINANCE AUTHORITY DEBT SERVICE 500.00 401 - CAPITAL IMPROVEMENT PROGRAMS 17,790.15 501 - FACILITY & FLEET REPLACEMENT 9.34 502 - INFORMATION TECHNOLOGY 3,588.13 Grand Total:175,788.91 Account Summary Account Number Account Name Expense Amount 101-0000-13600 Prepaid Expense 3,557.53 101-0000-20304 Sales Taxes Payable -33.86 101-0000-20949 LT Care Insurance Pay 196.05 101-0000-20981 United Way Deductions 62.00 101-0000-20985 Garnishments Payable 200.00 101-0000-41401 TOT - Short Term Vac. Ren…5.25 101-0000-41600 Business Licenses 3.00 101-0000-42300 Cash Over/Short 227.00 101-0000-42406 Golf Cart Permits 20.00 101-0000-42416 Digitization/Records Man…20.00 101-0000-43632 Public Works Permits 714.73 101-1001-60320 Travel & Training 120.00 101-1002-60320 Travel & Training 160.00 101-1002-60400 Office Supplies 14.45 101-1004-60400 Office Supplies 86.55 101-1005-60125 Temporary Agency Servic…1,898.40 101-1006-60106 Auditors 2,800.00 101-1006-60320 Travel & Training 137.50 101-2001-60109 LQ Police Volunteers 133.62 101-2001-60174 Blood/Alcohol Testing 195.00 101-2001-60175 Special Enforcement Funds 39.03 101-2001-60176 Sheriff - Other 170.00 101-2001-60420 Operating Supplies 2,725.93 101-2002-60691 Maintenance/Services 4,144.79 101-2002-61100 Utilities - Gas 30.08 101-2002-61300 Utilities - Telephone 51.01 101-3001-60400 Office Supplies 41.38 101-3002-60107 Instructors 1,821.68 101-3002-60400 Office Supplies 31.39 101-3002-60420 Operating Supplies 444.40 101-3003-60149 Community Experiences 1,069.00 101-3003-60420 Operating Supplies 88.03 101-3005-60104 Consultants 500.00 101-3005-60431 Materials/Supplies 15.56 101-3005-60691 Maintenance/Services 1,650.00 101-3007-60461 Marketing & Tourism Pro…13,675.26 101-3008-60431 Materials/Supplies 234.75 101-3008-61100 Utilities - Gas 213.33 101-6001-60400 Office Supplies 686.48 101-6004-60111 Administrative Citation Se…696.26 101-6004-60120 Lot Cleaning 900.00 101-6004-60194 Veterinary Service 1,500.00 101-7002-60103 Professional Services 31,771.52 101-7002-60183 Map/Plan Checking 360.00 101-7003-60420 Operating Supplies 230.81 83 Demand Register Packet: APPKT01579 - DA 05/04/18 5/3/2018 4:44:22 PM Page 5 of 5 Account Summary Account Number Account Name Expense Amount 101-7003-60432 Tools/Equipment 61.84 101-7006-60427 Safety Gear 418.51 201-7003-60429 Traffic Control Signs 1,729.13 201-7003-60431 Materials/Supplies 33.86 202-3004-60420 Operating Supplies 136.38 202-3004-61100 Utilities - Gas 16.42 202-3004-72110 Building Improvements 66,622.00 202-3006-60105 Museum Operations 1,800.00 202-3006-60691 Maintenance/Services 2,000.00 215-7004-60104 Consultants 593.75 215-7004-60423 Supplies-Graffiti and Van…1,285.00 215-7004-60431 Materials/Supplies 16.50 215-7004-60691 Maintenance/Services 495.00 221-0000-60127 AB 939 Recycling Solutions 3,543.38 270-0000-74800 Art Purchases 1,541.61 310-9501-60181 Contract Services Fees 500.00 401-0000-60185 Design 12,007.83 401-0000-60188 Construction 5,782.32 501-0000-60675 Parts & Maintenance Supp…9.34 502-0000-43611 Technology Enhancement…5.00 502-0000-61400 Utilities - Cable 374.00 502-0000-80103 Computers 3,209.13 Grand Total:175,788.91 Project Account Summary Project Account Key Expense Amount **None**154,120.75 1718TMICT 2,032.32 201603CT 3,750.00 201608D 8,854.43 201708D 3,153.40 ARCHIVEE 1,800.00 BDAYE 1,578.01 TACOE 500.00 Grand Total:175,788.91 84 4/27/2018 12:46:55 PM Page 1 of 2 Payment Reversal Register City of La Quinta, CA APPKT01573 - DA 04/27/18 Canceled Payables Vendor Set:01 - Vendor Set 01 Bank:APBNK - APBNK 01000 Vendor Number SWRCB Total Vendor Amount -14,230.00 Vendor Name Check 117014 04/27/2018 -14,230.0012/08/2017 04/27/2018 Payment Type Payment Number Original Payment Date Reversal Date Cancel Date Payment Amount Payable Number:Description Payable AmountDue DatePayable Date SW-0144899-R 12/08/201710/01/17-09/30/18- ANNUAL PERMIT FEE 14,230.0011/20/2017 85 Payment Reversal Register Packet: APPKT01573 - DA 04/27/18 4/27/2018 12:46:55 PM Page 2 of 2 Bank Code Summary Canceled Payables Payables Left To Pay AgainBank Code Total APBNK -14,230.00 0.00 -14,230.00 -14,230.00 0.00Report Total:-14,230.00 86 City of La Quinta Bank Transactions 4/21/18 – 5/04/18 Wire Transaction Listed below are the wire transfers from 4/21/18 – 5/05/18 Wire Transfers: 04/19/2018 - WIRE TRANSFER - LANDMARK 160,963.94$ 04/20/2018 - WIRE TRANSFER - ICMA 5,467.88$ 04/20/2018 - WIRE TRANSFER - LQCEA 513.00$ 04/20/2018 - WIRE TRANSFER - PERS 37,699.39$ 04/24/2018 - WIRE TRANSFER - TASC 1,224.96$ TOTAL WIRE TRANSFERS OUT 205,869.17$ Attachment 2 87 88 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ACCEPT CITY HALL MISCELLANEOUS INTERIOR AMERICANS WITH DISABILITIES ACT IMPROVEMENTS LOCATED AT 78495 CALLE TAMPICO (PROJECT NO. 2017- 03) RECOMMENDATION Accept the City Hall Miscellaneous Interior Americans with Disabilities Act Improvements Project as complete; authorize the City Clerk to file a Notice of Completion with the Office of the County Recorder; and authorize staff to release retention in the amount of $9,041, thirty-five days after the Notice of Completion is recorded. EXECUTIVE SUMMARY This project refurbished the lobby and staff restrooms, locker rooms, and showers to ADA compliant standards. The work is complete and Council acceptance will close the contract and allow final payment. FISCAL IMPACT The following is the financial accounting for Project No. 2017-03: Original Contract Amount $ 177,760 Contract Change Order Nos. 1 & 2 $ 3,045 Final Contract Amount $ 180,805 Project Budget (Equipment Replacement Fund) CDBG Contribution Project Budget Total $ 62,215 $ 168,923 $ 231,138 Final Contract Amount ($180,805) Design, Professional, & Personnel Costs ($ 3 0,920) Inspection, Plans, & Other Construction Costs ($ 3,469) Anticipated Funds Remaining* $ 15,944 * All costs to date have been accounted for and no additional costs are anticipated. CONSENT CALENDAR ITEM NO. 7 89 There are adequate funds to close this project; the final retention amount of $9,041 will be paid from the Retention Payable account (401-0000-20600). The anticipated savings ($15,944) will remain as available appropriations for this project until the completion of all phases. BACKGROUND/ANALYSIS On January 16, 2018, Council awarded a $177,760 contract to New Construction Solutions. On February 20, 2018, a Notice to Proceed was issued with a 30 working day completion time starting on February 22, 2018, and ending on April 4, 2018. Contract Change Order Nos. 1 and 2 extended the contract to April 9, 2018. The project was deemed substantially complete on April 9, 2018. No liquidated damages or early completion incentives are recommended. Contract Change Order Nos. 1 and 2 were issued for minor plumbing and electrical modifications. No contract quantity adjustments were required. The project construction effort is complete and is in compliance with the plans and specifications. Staff recommends acceptance and release of the retention thirty-five days after the Notice of Completion is recorded. ALTERNATIVES Staff does not recommend an alternative. Prepared by: Leonard R. St. Sauver, Public Works Construction Manager Approved by: Bryan McKinney, P.E., City Engineer Attachments: 1. Vicinity Map 2. Project Photos 90 *IMPORTANT* Maps and data are to be used for reference purposes only. Map features are approximate, and are not necessarily accurate to surveying or engineering standards. The County of Riverside makes no warranty or guarantee as to the content (the source is often third party), accuracy, timeliness, or completeness of any of the data provided, and assumes no legal responsibility for the information contained on this map. Any use of this product with respect to accuracy and precision shall be the sole responsibility of the user. © Riverside County RCIT GIS 6,188 Feet Legend Miscellaneous Americans with Disabilities Act (ADA) Improvements Proposed at City Hall Notes 3,0940 REPORT PRINTED ON...9/21/2016 9:57:34 AM Vicinity Map City Boundaries Cities roadsanno highways HWY INTERCHANGE INTERSTATE OFFRAMP ONRAMP USHWY roads Major Roads Arterial Collector Residential counties cities hydrographylines waterbodies Lakes Rivers ATTACHMENT 1 91 92 ATTACHMENT 2 93 94 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE SECOND AMENDMENT TO EMPLOYMENT AGREEMENT WITH CITY MANAGER RECOMMENDATION Approve Second Amendment to Employment Agreement with City Manager. EXECUTIVE SUMMARY •The City Council approved the current Employment Agreement with the City Manager for a term commencing June 4, 2015 through June 3, 2018. •The First Amendment on or about June 21, 2016 authorized an annual base salary from $198,900 to $204,200, effective June 27, 2016. •The Second Amendment (Attachment 1) extends the term for one year, through June 3, 2019. All other terms and conditions in the current Employment Agreement, as amended, would remain the same. FISCAL IMPACT No increase to current City Manager compensation. Costs would be incurred for an additional year of employment. BACKGROUND/ANALYSIS In 2015, the City Council approved the current Employment Agreement (Attachment 2) for the City Manager, which substantially revised the evaluation process from the prior City Manager employment contract. Among other provisions, the current Employment Agreement added performance-based compensation metrics used when conducting the City Manager’s annual review. At the May 1, 2018 meeting, the City Council conducted the City Manager’s annual performance evaluation pursuant to Government Code section 54957, which resulted in a proposal to extend the employment term for one year, with all other terms and conditions from the Employment Agreement, as amended, to remain the same. ALTERNATIVES None proposed. Submitted by: William H. Ihrke, City Attorney Attachments: 1. Second Amendment to Employment Agreement 2. Employment Agreement and First Amendment CONSENT CALENDAR ITEM NO. 8 95 96 SECOND AMENDMENT TO EMPLOYMENT AGREEMENT This SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the “Second Amendment”) is made and entered as of May 15, 2018 (the “Effective Date”), by and between the City of La Quinta, a public body (the “City” or “Employer”), and Frank J. Spevacek, an individual (the “Employee”), both of whom understand as follows: WITNESSETH: WHEREAS, the parties entered into an Employment Agreement as of July 21, 2015, for a Term from June 4, 2015 through June 3, 2018 (“Original Agreement”); and WHEREAS, the Original Agreement was amended on or about June 21, 2016, by that certain First Amendment to Employment Agreement (collectively, with the Original; Agreement, referred to as the “Employment Agreement”) to adjust Employee’s compensation or provided therein; and WHEREAS, the parties desire to amend the Employment Agreement, as provided herein. NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows: Section 1. Section 2 .A of the Original Agreement is amended such that the term of the Employment Agreement is extended for one (1) additional year, which shall make the total term of the Employment Agreement from June 4, 2015 through and including June 3, 2019, unless earlier terminated as provided in the Original Agreement. All other terms and conditions in Sections 2 .A, 2.B and 2.C to remain the same. Section 2. Except as specifically amended by this Second Amendment, the terms and conditions in the Employment Agreement remain the same and in full force and effect. [signatures on next page] 97 2 IN WITNESS WHEREOF, the City of La Quinta has caused this Second Amendment to be signed and executed on its behalf by its Mayor, and duly attested by its Deputy City Clerk, and the Employee has signed and executed this Second Amendment, both in duplicate, to become effective as of the Effective Date. EMPLOYER: CITY OF LA QUINTA By:_______________________________ LINDA EVANS Mayor of the City of La Quinta ATTEST: ________________________________________ MONIKA RADEVA, DEPUTY CITY CLERK City of La Quinta, California (City Seal) APPROVED AS TO FORM: ________________________________________ WILLIAM H. IHRKE, CITY ATTORNEY City of La Quinta, California EMPLOYEE: By: _______________________________ Frank J. Spevacek 98 99 100 EMPLOYMENT AGREEMENT This EMPLOYMENT AGREEMENT (the "Agreement") is made and entered as of July 21, 2015 (the "Effective Date"), by and between the City of La Quinta, a public body the "City" or "Employer"), and Frank J. Spevacek, an individual (the "Employee"), both of whom understand as follows: WITNESSETH: WHEREAS, the City desires to employ the services of Employee as the City Manager as provided by the La Quinta Municipal Code; and WHEREAS, it is the desire of the City to establish certain conditions of employment and to set working conditions of said Employee; and WHEREAS, Employee desires to accept employment as City Manager of said City. NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows: Section 1. Duties. A. Employer hereby agrees to employ Employee as City Manager of said City to perform the functions and duties specified in the La Quinta Municipal Code and as provided by state and federal law and to perform other legally permissible and proper duties and functions as the City Council shall from time to time assign. B. Employee, with prior written approval of the City Council, may undertake outside professional activities for compensation, including teaching, speaking and writing, provided they do not interfere with Employee's normal duties and are done only during vacation or other non -working time of Employee and are not done with any existing vendors or contractors of the City. Under no circumstances shall such outside activity create a conflict of interest with the duties of the City Manager and the interests of the City. Section 2. Term. A. The term of this Agreement shall be from June 4, 2015 through and including June 3, 2018, unless earlier terminated as provided herein. Thereafter, the parties may renew the Agreement pursuant to their mutual agreement. B. Nothing in this Agreement shall prevent, limit or otherwise -interfere with the right of the City Council acting for the .City to terminate the services of Employee at any time, with or without cause, subject only to the provisions set forth in Section 4, paragraphs A, B and D of this Agreement. 101 C. Nothing in this Agreement shall prevent, limit or otherwise interfere with the right of the Employee to resign at any time from his position with Employer, subject only to the provision set forth in Section 4, Paragraph E, of this Agreement. Section 3. Administrative Leave with Pay. Employer may place Employee on Administrative Leave with full pay and benefits at any time during the term of this Agreement. However, if the purpose of placing Employee on Administrative Leave With Pay is to conduct an investigation into potential wrongdoing, and after that investigation, Employee is convicted of a crime involving abuse of his/her office or position, then pursuant to Government Code Section 53243, Employee shall be required to fully reimburse City for any salary or benefits received while on Administrative Leave With Pay. "Abuse of office or position" shall be as defined in Government Code Section 53243.4, as may be amended. Section 4. Termination and Severance Pay. A. In the event Employee is terminated by the City Council during such time that Employee is willing and able to perform his/her duties under this Agreement, then Employer agrees to pay Employee a lump sum cash payment equal to either six months' salary or the salary for the remaining term of this Agreement, whichever is less. Pursuant to Government Code Section 53243.5, if Employee is later convicted of a crime involving abuse of office or position, then any severance paid under this Section 4.A shall be returned by Employee to Employer. B. Employee may be terminated at any time for willful misconduct as defined in Section 2.08.160 of the City's Municipal Code or for abuse of his/her office or position as defined in Government Code Section 53243.4 as may be amended. The determination of what constitutes willful misconduct shall be within the sole discretion of the City Council, provided that it shall relate to the welfare of the City. Willful misconduct includes conduct directly related to conduct in office and the duties of the office. It also includes conduct not directly related to the performance of the official duties of the office when such conduct has a direct and harmful effect on the welfare or reputation of the City. Evidence of such direct and harmful effects includes, but is not limited to, conviction of a felony or a crime of moral turpitude. Employee shall be entitled to the right to a hearing as provided in Sections 2.08.100 through 2.08.150 of the Municipal Code prior to termination under Sections 4.A and 4.13 of this Agreement. In the event that Employee is terminated for willful misconduct or abuse of office or position, City shall have no obligation to pay and shall be prohibited from paying, the severance sum designated in Section 4.A above, or any severance sum at all. C. Nothing in this Agreement shall prohibit Employer from imposing discipline less than termination upon Employee, including written reprimands, suspensions, or reductions in pay. Employee shall not be entitled to any due process as a result of the implementation of discipline less than termination. 102 D. In the event: (1) Employer at any time during the term of this Agreement reduces the salary or other financial benefits of Employee (other than a suspension of five 5) working days or less or a temporary reduction in salary of thirty (30) days or less) in a greater percentage than an applicable across-the-board reduction for all employees of Employer; or (2) Employer refuses, following written notice, to comply with any other provisions benefiting Employee herein; or (3) Employee resigns following a formal suggestion by the City Council that he/she resign, then Employee may, at his/her option, be deemed to be "terminated" as of that time, and shall be entitled to the severance provisions of Section 4.A above. E. In the event Employee voluntarily resigns his/her position with Employer before expiration of the above -referenced term of his/her employment, then Employee shall give Employer sixty (60) days' notice in advance, unless the parties otherwise agree, and Employee shall not be entitled to any severance pay. Section 5. Disability. If Employee is permanently disabled or is otherwise unable to perform his/her duties because of sickness, accident, injury, mental incapacity or health for a period of six (6) successive weeks beyond any accrued sick leave to which Employee is entitled, or for the legal duration of the Family & Medical Leave Act (whichever is greater), Employer shall have the option to terminate this Agreement. Termination pursuant to this Section would not subject the City to payment of severance benefits as specified under Section 4.A above. However, Employee shall be compensated for any accrued, vacation, holidays, administrative leave and other accrued benefits on the same basis as any other employee of the City pursuant to the Personnel Rules. Section 6. Salary. A. Employer agrees to pay Employee for his services rendered pursuant hereto an annual base salary of $198,900.00, effective June 4, 2015, payable in equal installments at the same time as other employees of the Employer are paid. Employer agrees to review said base salary and/or other benefits of Employee at the time of an annual evaluation which shall be initiated in May for each year of the Term. Employer may recommend adjustments to salary and/or other benefits during the time period that the annual review is performed. B. In addition to the annual base salary, Employee may be eligible for annual performance-based compensation in the amount of up to 5% of Employee's annual base salary, not to exceed $10,000, for any year in which performance-based compensation may be paid. Performance-based compensation shall be paid in a lump -sum for any given year, and, for purposes of such compensation, a year shall correspond to the City's fiscal year. Any payment of performance-based compensation shall be at the discretion of the City Council, and may only be paid if, in the City Council's discretion, Employee successfully meets performance goals and objectives as more particularly described in Exhibit "A" attached hereto and incorporated by reference (the "Performance -Based Compensation 103 Metrics"). The City Council may meet, in accordance with applicable law, at least one time every fiscal quarter to evaluate the performance of Employee with respect to the progress on the Performance -Based Compensation Metrics. Any performance-based compensation authorized by the City Council pursuant to this paragraph shall be paid directly to a supplemental retirement plan for Employee pursuant to United States Internal Revenue Code section 457(b) or other lawful supplemental retirement plan authorized pursuant to applicable federal or state law (commonly referred to as a deferred compensation plan and referred to herein as the "Supplemental Plan"). Prior to any payment of performance-based compensation to Employee pursuant to this paragraph, the City Council shall establish and authorize, if not previously established and authorized, the maintaining of a Supplemental Plan in accordance with applicable law. Any performance-based compensation to Employee shall not be a payroll deduction and shall not be deemed or reported to the California Public Employees' Retirement System ("CalPERS") as "compensation earnable" as long as such performance-based compensation is paid directly to the Supplemental Plan. Any payment of performance-based compensation pursuant to this paragraph shall be paid to the Supplemental Plan no later than December 31 after the immediately completed prior fiscal year. In explanation of the previous sentence, any performance-based compensation for fiscal year 2014-15 shall be paid to the Supplemental Plan no later than December 31, 2015; for fiscal year 2015-16, paid no later than December 31, 2016; for fiscal year 2016- 17, paid no later than December 31, 2017; and for fiscal year 2017-18, paid no later than December 31, 2018. After the City Council duly establishes and authorizes the maintaining of the Supplemental Plan, the City Council authorizes Employee or his designee(s) to execute any documents necessary or proper to maintain the Supplemental Plan prior to any payment of performance-based compensation to Employee, but the City Council retains any and all discretion to award or not award any and all performance-based compensation to Employee. Section 7. Hours of Work. In addition to working normal business hours, it is recognized that Employee must devote time outside the normal office hours to business of the Employer. Employee shall have 120 hours of Administrative Leave, consistent with Section 14.30.1 of the City's Personnel Rules. For partial calendar years, the 120 hours shall be prorated. Employee may not be employed by, or provide services to, any other entity while employed by the City. Section 8. No Transportation Allowance. City shall not provide a transportation allowance. Employee shall not be provided a City vehicle. Employee shall be entitled to reimbursement for mileage for the use of Employee's automobile for City business at then -applicable IRS rate. Section 9. Vacation, Bereavement, and Sick Leave. Employee shall accrue, and have credited to his/her personal account, vacation, bereavement and sick leave as provided for pursuant to the Personnel Rules. 104 Section 10. Other Benefits. Employee shall be provided with the same health, dental, vision, life insurance, and retirement benefits and any future cost of living increases that occur after June 4, 2015, as other general full time employees of the City. Employee may receive an annual physical examination at City expense. Section 11. Other Terms and Conditions of Emplovment. A. The City Council, in consultation with the City Manager, shall fix any such other terms and conditions of employment, as it may determine from time to time, relating to the performance of Employee, provided such terms and conditions are not inconsistent with or in conflict with the provisions of this Agreement, the Municipal Code or any applicable state or federal law. B. All regulations and rules of the Employer relating to vacation and sick leave, retirement and pension system contributions, holidays and other fringe benefits and working conditions as they now exist or hereafter may be amended, shall also apply to Employee as they would to other full-time employees of Employer, in addition to the benefits specifically set forth herein for the benefit of Employee. Section 12. Notices. Notices pursuant to this Agreement shall be given by: (1) email with verification of delivery; (2) facsimile transmission with confirmation; (3) personal delivery; (4) overnight delivery service with confirmation; or (5) deposit in the custody of the United States Postal Service, postage prepaid, addressed as follows: EMPLOYER: CITY OF LA QUINTA 78-495 Calle Tampico La Quinta, CA 92253 EMPLOYEE: Frank J. Spevacek 53065 Avenida Navarro La Quinta, CA 92253 Notice shall be deemed given as of the date of personal, overnight delivery, email, or facsimile service or as of the date of deposit of such written notice in the course of transmission in the United States Postal Service. Section 13. General Provisions. A. This Agreement shall constitute the entire agreement between the parties. No prior oral or written communications are incorporated herein. 105 B. This Agreement shall be binding upon and inure to the benefit of the heirs at law and executors of Employee. C. This Agreement may be signed in counterparts with signature pages transmitted by email, facsimile, personal delivery or overnight delivery, all of which will be treated as originals. D. If any provision, or any portion thereof, contained in this Agreement is held unconstitutional, invalid or unenforceable, the remainder of this Agreement, or portion thereof, shall be deemed severable, shall not be affected and shall remain in full force and effect. signatures on next page] 106 IN WITNESS WHEREOF, the City of La Quinta has caused this Agreement to be signed and executed in its behalf by its Mayor, and duly attested by its City Clerk, and the Employee has signed and executed this Agreement, both in duplicate, to become effective as of the Effective Date. ATTEST: A bAwi:4--= Susan Maysels, CITY CLEPI City of La Quinta, California City Seal) APPROVED AS TO FORM: William H. Ihrke, CITY ATTORNEY City of La Quinta, California EMPLOYER: CITY OF LA QUINTA Byc:::: LINDA EVANS Mayor of the City of La Quinta EMPLOYEE: Frank J • 1 Digitally signed by Frank J. Spevacek x DNaerialNumber-1n615nh01202cvmj, zn" c=US, st=California, l=La Quinta, o=Frank Q\/' SQ ^ ' ,,.,.J Speyacek, cn=Frank J. SpevaceknevacekDate: 2015.07.2213:5936-0700' Frank J. Spevacek 107 Exhibit "A" Performance -Based Compensation Metrics Annually, the City Council assesses the City Manager's performance after reviewing the organization's and his accomplishments. If the City Manager achieves an overall performance rating of Exceeds Expectations, then the City Manager may receive Performance Based Compensation as outlined in Section 6B of the Agreement. For Fiscal Year 2015/16, the City Manager's performance measures shall be based upon the items outlined below. Performance measures for Fiscal Years 2016/17 and 2017/18 will be established by the City Council for those respective years as a result of the City Manager's annual performance review. Fiscal Year 2015116 Performance Measures Fiscal Stability/Revenue Growth Develop and implement a community outreach program that engages the community and increases the community's understanding of how to sustain City service levels, facilities and infrastructure. Achieve additional service delivery efficiencies that result in delivering the same or increased services at decreased cost. Identify and implement strategic infrastructure and public facility investments that reduce operations' costs. Develop and advance an operating budget wherein revenues and expenditures are balanced, and reserves are not needed to fund operations. Complete a comprehensive water conservation strategy by the fourth quarter of 2015. Economic Development Provided that national and state economic conditions do not negatively impact debt and equity financing, ensure that SilverRock development activities commence no later than the second quarter of 2016. Complete the Village environmental and entitlement process by June 2016. Initiate and substantially complete a comprehensive review to streamline/simplify the City's development codes and processes by June 2016. Improve the Organization's Strength Complete a succession plan by January 2016. Further embed the performance pay system into the City's organizational culture. Develop and report service delivery metrics for all departments by June 2016. Streamline/simplify non -development Codes by June 2016 (purchasing, claims, surplus property, etc.). 108 FIRST AMENDMENT TO EMPLOYMENT AGREEMENT This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (the "First Amendment") is made and entered as of June 21, 2016 (the "Effective Date"), by and between the City of La Quinta, a public body (the "City" or "Employer"), and Frank J. Spevacek, an individual the "Employee"), both of whom understand as follows: WITNESSETH: WHEREAS, the parties entered into an Employment Agreement as of July 21, 2015, for a Term from June 4, 2015 through June 3, 2018; and WHEREAS, the parties now desire to amend the Employment Agreement. NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows: Section 1. Section 6.A of the Employment Agreement is amended to increase Employee's annual base salary from $198,900.00 to $204,200.00, effective June 27, 2016. All other terms and conditions in Sections 6.A and 6.B to remain the same. Section 2. Except as specifically amended by this First Amendment, the terms and conditions in the Employment Agreement remain the same and in full force and effect. IN WITNESS WHEREOF, the City of La Quinta has caused this First Amendment to be signed and executed in its behalf by its Mayor, and duly attested by its City Clerk, and the Employee has signed and executed this First Amendment, both in duplicate, to become effective as of the Effective Date. EMPLOYER: CITY OF LA QUINTA By: LINDA EVANS, Mayor City of La Quinta, California ATTEST: SUSAN MAYSELS, City Clerl City of La Quinta, California City Seal) 109 APPROVED AS TO FORM: SIGNED IN COUNTERPART WILLIAM H. IHRKE, City Attorney City of La Quinta, California EMPLOYEE: 2 110 APPROVED AS TO FORM: WILLIAM H. IHRKE, City Attorney City of La Quinta, California 2 EMPLOYEE: SIGNED IN COUNTERPART By: FRANK J. SPEVACEK 111 112 113 114 • • • • • • • • • • • • • • 115 116 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ADOPT A RESOLUTION TO APPROVE THE FISCAL YEAR 2018/19 INVESTMENT POLICY RECOMMENDATION Adopt a resolution to approve the Fiscal Year 2018/19 Investment Policy (Policy). EXECUTIVE SUMMARY •The California Government Code (Code) requires the City Treasurer to submit an annual statement of investment policy. •The Financial Advisory Commission (FAC) reviewed the Policy on April 11, guidance was incorporated, and the FAC approved the recommended Investment Policy for 2018/19 on May 9, 2018. FISCAL IMPACT – None. BACKGROUND The California Government Code requires state and local agencies to submit an annual statement of investment policy to the City Council. As part of the work plan, each year the FAC conducts a thorough review of the Policy and makes recommendations for City Council consideration (EXHIBIT A to the resolution). Per the Policy, the City Manager and City Attorney were present for discussion and approval by the FAC on May 9, 2018. There were no regulatory changes in 2017/18 which would have required an update to the current Policy. However, the FAC and staff have identified edits which provide consistency and further clarification to the document. Recommendations include changes to the fiscal year referenced, minor language changes for text consistency in appendices, removal of redundant information, and changes for consistency with City Code and/or State Code: •Executive Summary updated to be more concise. •Section V regarding maximum maturities was updated to be consistent with State Code. •Section VI updated to reflect Prudent Investor Standard and fiduciary duty requirements in the California Government Code. BUSINESS SESSION ITEM NO. 1 117 •Section X regarding permissible deposits and investments was updated regarding maximum maturity for local agency bonds, maximum LAIF balance, and percentage of portfolio allowable in each investment category, to align with State Code. •Section X was also updated to allow up to 50% of the portfolio to be managed by a Professional Portfolio Management Firm. •Appendices F and G – Broker/Dealer Questionnaire and Request for Proposals for Professional Portfolio Management Firm- were removed as these are internal process documents to be utilized only when needed. •Appendices A and H –Summary of Permissible Deposits – were removed as they reiterated data found in Section X. •Listing of Approved Financial Institutions was updated to align columns and add the new OPEB Trust account. It is City policy to invest all public funds in a manner which will provide a diversified portfolio with maximum security, the highest investment return, in conformity with all state and local statutes, while meeting daily cash flow demands. This Policy applies to all cash and investments of the City, Successor Agency to the La Quinta Redevelopment Agency, La Quinta Housing Authority, and the La Quinta Financing Authority. The primary objectives of investment activity, in order of priority, are: •Safety of principal; •Liquidity to meet all obligations and requirements that may be reasonably anticipated; and •A risk-based market rate of return, meaning the return on an investment is less important than the safety and liquidity. Authority to manage the City’s investment portfolio is specified in Section 3.08.010 of the City’s Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer, who establishes and implements written procedures for its operation, consistent with the Policy. ALTERNATIVES Council may approve as presented, incorporate changes, or request further review by the FAC. Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director Attachment: 1. Investment Policy- Redlined to highlight changes 118 1 RESOLUTION NO. 2018 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA APPROVING AND ADOPTING THE AMENDED INVESTMENT POLICY FOR FISCAL YEAR 2018/2019 WHEREAS, the general purpose of the Investment Policy is to provide the rules and standards users must follow in investing funds of the City of La Quinta; and WHEREAS, the primary objectives, in order of priority, of the City of La Quinta’s investment activity shall be: Safety of principal is the foremost objective of the investment program. Investments of the City of La Quinta shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be reasonably anticipated. The investment portfolio shall be designed with the objective of attaining a market rate of return or yield throughout budgetary and economic cycles, taking into account the investment risk constraints and liquidity needs; and WHEREAS, authority to manage the City of La Quinta’s investment portfolio is derived from the City’s municipal code, management responsibility for the investment program is delegated to the City Treasurer, who shall establish and implement written procedures for the operation of the City’s investment program consistent with the Investment Policy for each Fiscal Year; and WHEREAS, the Investment Policy will be adopted before the end of June of each year and amended as considered necessary. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of La Quinta to adopt the Fiscal Year 2018/2019 Investment Policy “Exhibit A”. 119 Resolution No. 2018- Investment Policy for Fiscal Year 2018/2019 Adopted: May 15, 2018 Page 2 of 2 PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City Council, held on this 15th day of May, 2018 by the following vote: AYES: NOES: ABSTAIN: ABSENT: ______________________________ LINDA EVANS, Mayor City of La Quinta, California ATTEST: _________________________________________ PAM NIETO, Deputy City Clerk City of La Quinta, California (CITY SEAL) APPROVED AS TO FORM: _____________________________________ WILLIAM H. IHRKE, City Attorney City of La Quinta, California 120 1 2018/19 INVESTMENT POLICY EXHIBIT A RESOLUTION NO. 2018-XXX 121 1 CITY OF LA QUINTA Investment Policy Fiscal Year 2018/2019 Table of Contents 122 2 CITY OF LA QUINTA Investment Policy FiscalYear2018/2019 Executive Summary The general purpose of this Investment Policy is to provide the rules and standards that must be followed in administering the City of La Quinta's (the “City”) deposits and investments. The City's Investment Policy conforms to all state and local statutes and applies to all deposits and investments of the City, with the exception of bond proceeds and those noted in section XVI herein. It is the City's policy to deposit and invest public funds in a manner that shall provide safety of principal, liquidity to meet all of the City’s obligations and requirements that may be reasonably anticipated, and a risk-based market rate of return. Authority to manage the City's investment portfolio is derived from the City Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer, who shall establish and implement written procedures for the operation of the City's investment program consistent with the Investment Policy. The City Manager, City Treasurer and city employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. The Investment Policy shall be adopted by resolution of the La Quinta City Council on an annual basis, before the end of each fiscal year (June). 123 3 City of La Quinta Statement of Investment Policy July 1, 2018 through June 30, 2019 Adopted by the City Council on I GENERAL PURPOSE The general purpose of this document is to provide the rules and standards that must be followed in administering the City of La Quinta's deposits and investments. II INVESTMENT POLICY It is the policy of the City of La Quinta to deposit and invest public funds in a manner that shall conform to all State and local statutes governing the investment of public funds and set forth the permissible deposits and investments of the City's funds and the limitations thereon. III SCOPE Except as further detailed in Sections XVI and XVII, this Investment Policy applies to all deposits and investments of the City of La Quinta, the Successor Agency to the City of La Quinta Redevelopment Agency, and the City of La Quinta Financing and Housing Authorities (hereafter referred to in this document as the "City" or the “Agency”). These funds are reported in the City's Comprehensive Annual Financial Report (CAFR) and include all funds within the following fund types:  General  Special Revenue  Capital Projects  Debt Service  Enterprise  Internal Service  Trust and Agency  Any new fund types and fund(s) that may be created. IV OBJECTIVES The objectives of the City's investment activity, in order of priority and importance, are: 1. Safety of Principal Safety of principal is the foremost objective of the City's investment program. Investments shall be undertaken in a manner that seeks to ensure the preservation of principal of the overall portfolio in accordance with the permissible deposits and investments. The City shall endeavor to preserve its investment principal by making only permissible deposits and investments, undertaken in a controlled manner to minimize the possibility of loss or misappropriation through malfeasance or otherwise. Investments not backed by the full faith and credit of the United States Government shall be diversified by allocating assets between different types of 124 4 permissible investments, maturities, and issuers as a means to mitigate credit risk and interest rate risk. a. Credit Risk is the risk of loss from the failure of the security issuer or backer. Credit risk may be mitigated by:  Limiting investments to investment grade securities as permitted in Section X; and  Diversifying the issuers of the securities in the investment portfolio so that potential losses due to issuer failure or individual securities downgrades may be minimized. b. Interest Rate Risk is the risk that market values of securities in the portfolio will decline due to changes in general interest rates. Interest rate risk may be mitigated by:  Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity; and  Investing operating funds primarily in shorter-term securities. c. Liquidity Risk is the risk that a security cannot be liquidated because of its unique features or structure or because it is thinly traded. Liquidity risk is not a material issue for the City's portfolio because of the permissible deposits and investments (see Section X). A discussion of the City's investment process and risk is presented in Appendix E. 2. Provide Liquidity The investment portfolio shall remain sufficiently liquid to meet all of the City's cash needs that may be reasonably anticipated. This is accomplished by structuring the portfolio so that sufficient liquid funds are available to meet anticipated demands. Furthermore, since all possible cash needs cannot be anticipated the portfolio should be diversified and consist of securities with active secondary or resale markets. The City's policy is to generally hold securities and other investments to maturity. Accordingly, securities may be sold prior to maturity under certain circumstances as follow:  A security with declining credit quality can be sold early to minimize loss of principal.  Unanticipated liquidity needs of the portfolio require that one or more securities be sold.  When a sale/repurchase is fiscally advantageous based on market conditions and fits the needs of the portfolio 3. Yield a Risk-Based Market Rate of Return The City's investment portfolio shall be structured with the objective of yielding a risk- based market rate of return throughout budgetary and economic cycles. Return on investment is less important than the safety and liquidity objectives described above. The City's Investment Policy does not specify a single benchmark as a goal or target yield for a rate of return on its investment portfolio. The portfolio's rates of return will be influenced by several factors, including actions by the Federal Reserve Board, the 125 5 marketplace, and overall economic perceptions and conditions. As a basis for comparison only, the Treasurer's quarterly reports will display the rates of return on the three-month Bill, six-month Bill, and one and two-year U.S. Treasury Note, comparable-period rates for commercial paper, and the yield for the State Treasurer's Local Agency Investment Fund (LAIF). The Treasurer may use these or any other published rates of return that the Treasurer deems appropriate for comparison to the return on the City's investment portfolio. V MAXIMUM MATURITIES It is the City's policy to generally hold securities and other investments until maturity. This buy­ and-hold policy shall not prevent the sale of a security as listed in section IV.3 The general buy-and-hold strategy requires that the City's investment portfolio be structured so that sufficient liquid funds are available from maturing investments and other sources to meet all reasonably­ anticipated cash needs. To meet anticipated cash needs, it is essential that the Treasurer have reliable, diligently prepared cash flow projections. The City shall follow Title 5 of the California Government Code §53601 (the “State Code”) regarding maximum maturities, in that “ no investment shall be made in any security…that at the time of the investment has a term remaining to maturity in excess of five years”. VI PRUDENCE and FIDUCIARY DUTY The City shall follow the State Code §53600.3 regarding fiduciary duty and the Prudent Investment Standard as follows: Except as provided in subdivision (a) of Section 27000.3, all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency. Within the limitations of this section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law. VII AUTHORITY Authority to manage the City's investment portfolio is derived from section 3.08 of the City's Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer for a period of one year pursuant to the City Council's annual adoption of the Investment Policy. The City Treasurer shall establish written procedures for the operation of the investment program consistent with the Investment Policy. Procedures should include reference to safekeeping, wire transfer agreements, banking service contracts, and collateral/depository agreements. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this Investment Policy and the procedures established by 126 6 the City Treasurer. The City Treasurer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials. VIII ETHICS AND CONFLICTS OF INTEREST The City Manager, City Treasurer and city employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. Any questionable activity or relationship shall be reported immediately and in compliance with the procedures set forth in Section 1.40 - Conflicts of Interest and Acceptance of Gifts and other Gratuities of the City of La Quinta Personnel Manual. Reporting must be made in accordance with the personnel policies of the City and, until resolved, the officer or employee shall refrain from participating in the City's business related to the matter. The City Manager, City Treasurer and City employees may conduct personal business with banks, brokers, and other financial institutions that are authorized to conduct business with the City provided that the terms of the activity to the accountholder with the City are the same as those that are available to the public in general. IX AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The City Treasurer maintains a listing of financial institutions which are approved for direct investment purposes. In addition a list will also be maintained of approved broker/dealers selected by credit worthiness. 1. Broker/Dealers who desire to become bidders for direct investment transactions must supply the City with the following:  Current audited financial statements;  Proof of Financial Industry Regulatory Authority (FINRA) Certification;  Trading resolution;  Resume of Financial broker; and  Completion of the City of La Quinta Broker/Dealer questionnaire, which contains a certification of having read the City's Investment Policy. The City Treasurer shall evaluate the documentation submitted by the broker/dealer and independently verify existing reports on file for any firm and individual conducting investment related business. The City Treasurer will also contact the following agencies during the verification process:  Financial Industry Regulatory Authority (FINRA) Public Disclosure Report File (1-800- 289-9999).  State of California Department of Corporations (1-916-445-3062). A professional investment manager or management firm, if engaged by the City pursuant to Section X of this policy, may utilize their own list of approved broker/dealers on the condition that any such list is provided to the City upon request. All Broker/Dealers and financial institutions that provide investment services will be subject to City Council approval. 127 7 Each securities dealer shall provide monthly and quarterly reports filed pursuant to U.S. Treasury Department regulations. Each mutual fund shall provide a prospectus and statement of additional information. 2. Financial Institutions will be required to meet the following criteria in order to receive City funds for deposit or investment (see Appendix D, "Listing of Approved Financial Institutions"):  Insurance - Public Funds shall be deposited only in financial institutions having accounts insured by the Federal Deposit Insurance Corporation (FDIC).  Collateral- The amount of the City's deposits or investments not insured by the FDIC shall be collateralized by securities with market values of 110%, or by mortgages with market values 150%, of the amount of invested funds plus unpaid interest earnings.  Disclosure - Each financial institution maintaining invested funds in excess of the FDIC insured amount shall furnish the City a copy of the most recent Call Report. The City shall not invest in excess of the FDIC insured amount in banking institutions which do not disclose to the city a current listing of securities pledged for collateralization in public monies. X PERMISSIBLE DEPOSITS AND INVESTMENTS It is the City’s policy to follow the applicable State Code in regard to allowable securities. Permissible deposits and investments, as allowed by Chapter 4, Part 1, Division 2, Title 5 (hereinafter cited by §), include, but are not limited to, the following: Checking. Savings. and Sweep Accounts - The City will only maintain checking and savings, accounts with state or national banks, savings associations, federal associations, and/or credit unions in accordance with §53635.2. In addition, the Treasurer may invest in an interest bearing active deposit account as approved in §53632. The deposit account must be collateralized with securities that are in accordance with §53632.5(c). In addition, the market value of the collateralized securities must be maintained in accordance with §53652 (a), and be held by a custodian in accordance with the requirements of §53656. The proposition of the City's share of the deposit account shall be determined in accordance with §53658. Certificates of Deposit (Negotiable and Non-negotiable) - The City may invest in Non- Negotiable and Negotiable Certificates of Deposits (CD) up to 30% of the overall portfolio §53601(i). In no instance shall a CD or combined CD’s with a single issuer exceed the FDIC or NCUSIF insurance limit of $250,000. U.S. Treasury Bills. Notes. and Bonds and Government National Mortgage Associations (GNMA) securities - The City may invest in U.S. Treasury bills, notes, and bonds and GNMA securities directly issued and backed by the full faith and credit of the U.S. Government. The City's Investment Policy provides for investments in U.S. Treasury issues and GNMA's of 100% of the portfolio §53601(b). 128 8 U.S. Government Agency Securities and Federal Government Securities - The City may invest in securities issued by U.S. Government instrumentalities and agencies (commonly referred to as government sponsored enterprises or GSE's) §53601(f). These securities are not backed by the full faith and credit of the U.S. Government. Publicly owned GSE's include Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Student Loan Marketing Association (SLMA). Non-publicly owned GSE's include the Federal Home Loan Bank (FHLB), Federal Farm Credit Bank (FFCB), Federal Land Bank (FLB) and Federal Intermediate Credit Bank (FICB). The City's Investment Policy allows investment only in securities of FNMA, FHLMC, FHLB and FFCB. For Fiscal Year 2018-19, the maximum face amount per issuer is $20 million and the maximum face amount per purchase is $10 million. Prime Commercial Paper - As authorized in §53601(h), a portion of the City's portfolio may be invested in commercial paper of the highest rating as provided for by a nationally recognized statistical rating organization (NRSRO; i.e. Moody’s, Fitch, or S&P) There are a number of other qualifications regarding investments in commercial paper based on the financial strength of the corporation and the size of the investment. Per state code, "Eligible commercial paper shall have a maximum maturity of 270 days or less. Local agencies, other than counties or a city and county, may invest no more than 25 percent of their moneys in eligible commercial paper. Local agencies, other than counties or city and county, may purchase no more than 10 percent of the outstanding commercial paper of any single issuer”. Local Agency Investment Fund (LAIF) - As authorized in §16429.1 and by LAIF procedures, local government agencies are each authorized to invest a maximum of $65 million per account in this investment program administered by the California State Treasurer. The City Treasurer may not invest more than $65 million per account in LAIF. Money Market Mutual Funds - As authorized in §53601(l), local agencies are authorized to invest in shares of beneficial interest issued by diversified management companies (mutual funds) in an amount not to exceed 20% of the agency's portfolio. There are a number of other qualifications and restrictions regarding allowable investments in corporate notes and shares of beneficial interest issued by mutual funds which include (1) attaining the highest ranking or the highest letter and numerical rating provided by not less than two of the three largest nationally recognized rating services, or (2) having an investment advisor registered with the Securities and Exchange Commission with not less than five years' experience investing in the securities and obligations and with assets under management in excess of five hundred million dollars ($500,000,000). Corporate Notes - As authorized in §53601(k), local agencies may invest in corporate notes. The notes must be issued by corporations organized and operating in the United States or by depository institutions licensed by the United States or any other state and operating in the United States. The City's Investment Policy allows investment in 129 9 corporate notes authorized by the Government Code with the following limitations:  Maximum 30% of the portfolio;  Maturities shall not exceed five years from date of purchase;  Eligible notes shall be regularly quoted and traded in the marketplace;  Eligible notes shall be rated "AA" or better; and  The maximum aggregate investment in each issuer shall not exceed $5 million (PAR value). Professionally Managed Account(s)- The City Treasurer may place up to 50% of the portfolio with a professional portfolio management/investment management firm (firm) The firm will be approved by the City Council based upon the City Treasurer's recommendation pursuant to completion of a public request for proposal (RFP). The firm shall have:  An established professional reputation for asset or investment management;  Knowledge and working familiarity with State and Federal laws governing and restricting the investment of public funds;  Substantial experience providing investment management services to local public agencies whose investment policies and portfolio size are similar to those of the City;  Professional liability (errors and omissions) insurance and fidelity bonding in such amounts as are required by the City; and  Registration with the Securities and Exchange Commission under the Investment Advisers Act of 1940 Before engagement by the City and except as may be specifically waived or revised, the firm shall commit to adhere to the provisions of the City's Investment Policy with the following exceptions:  The firm may be granted the discretion to purchase and sell investment securities in accordance with this Investment Policy;  The firm is not required to adhere to a buy-and-hold policy; and  The firm does not need City Manager or City Treasurer approval to make permissible investments. Local Agency Bonds and California Local Agency Obligations - The City may invest in California local agency obligations pursuant to §53601(a) and §53601(e). 53601(a) pertains to investing in bonds issued by a local agency, or by the department, board, agency or authority of the local agency. 53601(e) pertains to investing in bonds and other defined indebtedness of any local agency, or department, board, agency or authority of the local agency within the State of California. The Agency obligations must be invested in the long term rating of A or better by S&P, Moody's or Fitch. In the case of an initial public offering, including refinancings, the Treasurer may purchase directly from the Bond Underwriter. In the case of secondary issues, the Treasurer will rely on the approved Broker/Dealers. XI INVESTMENT POOLS There are three (3) types of investment pools:  State-run pools (e.g., LAIF);  Pools that are operated by a political subdivision where allowed by law and the political subdivision is the trustee (e.g., County Pools); and 130 10  Pools that are operated for profit by third parties. The City's Investment Policy permits investment in pools authorized by Government Code. XII PAYMENT AND CUSTODY The City shall engage qualified third party custodians to act in a fiduciary capacity to maintain appropriate evidence of the City's ownership of securities and other eligible investments. Such custodians shall disburse funds, received from the City for a purchase, to the broker, dealer or seller only after receiving evidence that the City has legal, record ownership of the securities. Even though ownership is evidenced in book-entry form rather than by actual certificates, this procedure is commonly accepted as the delivery versus payment (DVP) method for the transfer of securities. XIII INTEREST EARNING DISTRIBUTION POLICY Interest earnings are generated from pooled investments and specific investments. The following provisions apply to the calculation and distribution of interest earnings. 1. Pooled Investments - It is the general policy of the City to pool all available operating cash of the City of La Quinta, Successor Agency to the City of La Quinta Redevelopment Agency, La Quinta Financing Authority, and La Quinta Housing Authority, and to allocate interest earnings in the following order, as follows: a. Payment to the General Fund of an amount equal to the total annual bank service charges as incurred by the general fund for all operating funds as included in the annual operating budget. b. Payment to the General Fund of a management fee equal to 5% of the annual pooled cash fund investment earnings. c. Payment to each fund of an amount based on the average computed daily cash balance included in the common portfolio for the earning period. 2. Specific Investments - Specific investments purchased by a fund shall incur all earnings and expenses to that particular fund. XIV INTERNAL CONTROLS AND INDEPENDENT AUDITOR The City Treasurer shall establish a system of internal controls to accomplish the following objectives:  Safeguard assets;  The orderly and efficient conduct of its business, including adherence to management policies;  Prevention or detection of errors and fraud;  The accuracy and completeness of accounting records; and  Timely preparation of reliable financial information. 131 11 While no internal control system, however elaborate, can guarantee absolute assurance that the City's assets are safeguarded, it is the intent of the City's internal control to provide a reasonable assurance that management of the investment function meets the City's objectives. The internal controls shall address the following:  Control of collusion. Collusion is a situation where two or more employees are working in conjunction to defraud their employer.  Separation of transaction authority from accounting and record keeping. By separating the person who authorizes or performs the transaction from the people who record or otherwise account for the transaction, a separation of duties is achieved.  Custodial safekeeping. Securities purchased from any bank or dealer including appropriate collateral (as defined by State Law) shall be placed with an independent third party for custodial safekeeping.  Avoidance of physical delivery securities. Book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. Delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities.  Clear delegation of authority to subordinate staff members. Subordinate staff members must have a clear understanding of their authority and responsibilities to avoid improper actions. Clear delegation of authority also preserves the internal control structure that is contingent on the various staff positions and their respective responsibilities as outlined in the Segregation of Major Investment Responsibilities appendices.  Written confirmation of telephone transactions for investments and wire transfers. Due to the potential for error and improprieties arising from telephone transactions, all telephone transactions shall be supported by written communications or electronic confirmations and approved by the appropriate person. Written communications may be via fax or email if on letterhead and the safekeeping institution has a list of authorized signatures. Fax correspondence must be supported by evidence of verbal or written follow-up.  Development of a wire transfer agreement with the City's bank and third party custodian. This agreement should outline the various controls, security provisions, and delineate responsibilities of each party making and receiving wire transfers. The system of internal controls developed by the City shall be reviewed annually by the independent auditor in connection with the annual audit of the City's Financial Statements. The independent auditor's letter on internal control over financial reporting and compliance as it pertains to cash and investments, if any, shall be directed to the City Manager who will direct the City Treasurer to provide a written response to the independent auditor's letter. The auditor's letter, as it pertains, to cash and investment activities and the City Treasurer's response shall be provided to the City's Financial Advisory Commission for their consideration. Following the completion of each annual audit, the independent auditor shall meet with the Financial Advisory Commission and discuss the auditing procedures 132 12 performed and the review of internal controls for cash and investment activities. See Appendix C, "Segregation of Major Investment Responsibilities." XV REPORTING STANDARDS The City Treasurer shall submit a monthly Treasurers Report to the City Council and the Financial Advisory Commission that includes all cash and investments under the authority of the Treasurer. The Treasurer's Report shall summarize cash and investment activity and changes in balances and include the following: A certification by the City Treasurer; A listing of purchases and sales/maturities of investments; Cash and Investments categorized by authorized investments, except for LAIF which will be provided quarterly and show yield and maturity; Comparison of month end actual holdings to Investment Policy limitations; Distribution of cash and investment balances by fund; A two-year list of historical interest rates. XVI FINANCIAL ASSETS AND INVESTMENT ACTIVITY NOT SUBJECT TO THIS POLICY The City's Investment Policy does not apply to the following: Cash and Investments raised from Conduit Debt Financing; Funds held in trust in the City's name in pension or other post-retirement benefit programs; Cash and Investments held in lieu of retention by banks or other financial institutions for construction projects; and Short or long term loans made to other entities by the City or Agency, Short term (Due to/from) or long term (Advances from/to) obligations made either between the City and its funds or between the City and Agency. XVII INVESTMENT OF BOND PROCEEDS The City's Investment Policy shall not govern bond proceeds and bond reserve fund investments. California Code Section 5922 (d) governs the investment of bond proceeds and reserve funds in accordance with bond indenture provisions. Arbitrage Requirement - The US Tax Reform Act of 1986 requires the City to perform arbitrage calculations as required and return excess earnings to the US Treasury from investments of proceeds of bond issues sold after the effective date of this law. These arbitrage calculations may be contracted with an outside source to provide the necessary technical assistance to comply with this regulation. Investable funds subject to the 1986 Tax Reform Act will be kept segregated from other funds and records will be kept in a fashion to facilitate the calculations. The City's investment position relative to the new arbitrage restrictions is to continue pursuing the maximum yield on applicable investments while ensuring the safety of capital and liquidity. It is the City's position to continue maximization of yield and to rebate excess earnings, if necessary. XVIII FINANCIAL ADVISORY COMMISSION - CITY OF LA QUINTA The Financial Advisory Commission (FAC) is composed of seven members 133 13 from the public that are appointed by the City Council. Background information will be requested and potential candidates must agree to a background check and verification. On an annual basis, in conjunction with the Political Reform Act disclosure statutes, or at any time if a change in circumstances warrants, each commissioner will provide the City Council with a disclosure statement which identifies any matters that have a bearing on the appropriateness of that member's service on the FAC. All commissioners shall report annually every June to the City Clerk on Form 700, Statement of Economic Interests, any activities, interests, or relationships that may be, or have the appearance of, a conflict of interest. The FAC must meet at least quarterly to: Review at least annually the City's Investment Policy and recommend appropriate changes; Review at least quarterly the treasury report and note compliance with the Investment Policy as well as adequacy of cash and investments for anticipated obligations; Receive and consider other reports provided by the City Treasurer; Meet with the independent auditor after completion of the annual audit of the City's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls and findings for cash and investment activities; Review at least annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs, and capital projects in the city of La Quinta Serve as a resource for the City Treasurer on matters such as proposed investments, internal controls, use of or change of financial institutions, custodians, brokers and dealers. The FAC will report to the City Council after each meeting either in person or through correspondence at a regular City Council meeting. See Appendix A: "Financial Advisory Commission Provisions." XIX INVESTMENT POLICY ADOPTION The City's Investment Policy will be reviewed annually by the City's Financial Advisory Commission and the City Treasurer. The Financial Advisory Commission will forward the Investment Policy with any revisions to the City Manager and City Attorney for their review and comment. A joint meeting will be held with the Financial Advisory Commission, City Manager, City Attorney, and City Treasurer to review the Investment Policy and any comments prior to submission to the City Council for their consideration. The Investment Policy shall be adopted by resolution of the City Council annually before the end of June of each year. 134 15 Appendix A Chapter 2.70 FINANCIAL ADVISORY COMMISSION Sections: 2.70.010 2.70.020 2.70.030 2.70.040 General rules regarding the financial advisory commission. Number of members. Qualifications of members. Powers and duties. 2.70.010 General rules regarding the financial advisory commission. Except as set out below, see Chapter 2.06 for general provisions. 2.70.020 Number of members. The financial advisory commission ("FAC") shall initially consist of seven members appointed by, and serving at the will of the city council. The city council may increase or decrease the number of members from time to time but in no event shall the membership exceed nine members or be less than five members. 2.70.030 Qualifications of members. A. In addition to the qualification requirements set forth in Section 2.06.040 of this code, a minimum of three of the members shall be finance professionals and shall have a verifiable background in finance and/or securities, preferably with knowledge and/or experience in markets, financial controls and accounting for securities. B. For those applying for the professional position, background information will be requested and potential candidates must agree to a background check and verification by the city manager or designee. 2.70.040 Powers and duties. A. The principal functions of the FAC are: 1. Review at least annually the city's investment policy and recommend appropriate changes; 2. Review at least quarterly the treasury report and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; 3. Receive and consider other reports provided by the city treasurer; 4. Meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; 5. Review at least annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the city of La Quinta. 6. Serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of or change of financial institutions, custodians, brokers and dealers. B. The FAC will report to the city council after each meeting either in person or through correspondence at a regular city council meeting. 2.70.050 References to the Investment Advisory Board. If any other chapter(s) or section(s) in this code refers to the Investment Advisory Board, that chapter(s) or section(s) shall be deemed to refer to the Financial Advisory Commission established by the ordinance amending chapter 2.70 of this code. 135 16 Appendix B City of La Quinta Municipal Code Chapter 3.08 INVESTMENT OF MONEYS AND FUNDS Sections: 3.08.010 Investment of city moneys and deposit of securities. 3.08.020 Authorized investments. 3.08.030 Sales of securities. 3.08.040 City bonds. 3.08.050 Reports. 3.08.060 Deposits of securities. 3.08.070 Trust fund administration. 3.08.010 Investment of city moneys and deposit of securities. Pursuant to, and in accordance with, and to the extent allowed by Sections 53607 and 53608 of the California Government Code, the authority to invest and reinvest moneys of the city, to sell or exchange securities, and to deposit them and provide for their safekeeping, is delegated to the city treasurer, which, for purposes of this chapter, is defined in Section 2.12.010 of this code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.020 Authorized investments. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to purchase, at their original sale or after they have been issued, securities which are permissible investments under the city council adopted city investment policy and any provision of state law relating to the investing of general city funds, including, but not limited to, Sections 53601 and 53635 of the California Government Code, as said sections now read or may hereafter be amended, from moneys in the city treasurer's custody which are not required for the immediate necessities of the city and as he or she may deem wise and expedient, and to sell or exchange for other eligible securities and reinvest the proceeds of the securities so purchased. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.030 Sales of Securities. From time to time the city treasurer shall sell the securities in which city moneys have been invested pursuant to this chapter, so that the proceeds may, as appropriate, be applied to the purchase for which the original purchase money may have been designated or placed in the city treasury. (Ord.2 § 1 (part), 3.08.040 City bonds. Bonds issued by the city and purchased pursuant to this chapter may be cancelled either in satisfaction of sinking fund obligations or otherwise if proper and appropriate; provided, however, that the bonds may be held uncancelled and while so held may be resold. (Ord. 2 § 1 (part), 1982) 136 16 3.08.050 Reports. The city treasurer shall make a quarterly report to the city council of all investments made pursuant to the authority delegated in this chapter and as permitted by Section 53646(b)(1) of the Government Code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.060 Deposits of securities. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to deposit for safekeeping, the securities in which city moneys have been invested pursuant to this chapter, in any institution or depository authorized by the city council adopted investment policy and terms of any state law, including, but not limited to, Section 53608 of the Government Code, as it now reads or may hereafter be amended. In accordance with said section, the city treasurer shall take from the institution or depository a receipt for the securities so deposited and shall not be responsible for the securities delivered to and receipted for by the institution or depository until they are withdrawn therefrom by the city treasurer. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.070 Trust fund administration. Any departmental trust fund established by the city council pursuant to Section 36523 of the Government Code shall be administered by the city treasurer in accordance with Section 36523 and 36524 of the Government code and any other applicable provisions of law. (Ord. 2 § 1 (, 1982) 137 18 Appendix C SEGREGATION OF MAJOR INVESTMENT RESPONSIBILITIES Function Develop and Recommend Modifications to City's Formal Investment Policy Review City's Investment Policy and Recommend City Council Action Adopt Formal Investment Policy Implement Formal Investment Policy Review Financial Institutions & Select Investments Acknowledge Investment Selections Execute Investment Transactions Confirm Wires (if applicable) Responsible Parties Financial Advisory Commission and City Treasurer City Manager and City Attorney City Council City Treasurer City Treasurer or Financial Services Analyst City Manager or his/her designee City Treasurer or City Manager Senior Accountant or Financial Services Analyst Record Investment Transactions in City's Accounting Records Investment Verification (match broker confirmation to City investment records) Reconcile Investment Records to Accounting Records and Bank Statements Reconcile Investment Records to Treasurers Report of Investments Security of Investments at City Security of Investments outside City Review Internal Control Procedures Senior Accountant or Accountant City Treasurer and Financial Services Analyst Financial Services Analyst Senior Accountant or Financial Services Analyst Senior Accountant or Management Assistant Third Party Custodian External Auditor 138 20 Appendix D Listing of Approved Financial Institutions Banking Services Wells Fargo Bank, Government Services, Los Angeles, CA (Banking Services) Rabobank N.A., Government Banking Group, Roseville, CA (Collateralized Bank Deposits) Custodian Services The Bank of New York Mellon/Pershing LLC Deferred Compensation International City/County Management Association (ICCMA) Retirement Corporation Broker/Dealer Services Bank of America Securities/Merrill Lynch Morgan Stanley CitiGroup First Empire Securities Government Pool State of California Local Agency Investment Fund (LAIF) Bond Trustee US Bank (1) Other Post-Employment Benefits (OPEB) Trust California Employers' Retirement Benefits Trust (CERBT)/CalPERS (1) US Bank is the fiscal agent for all of the following bonds: 1996 Lease Revenue Bonds; 1998 RDA Project Area 1&2; 2001 RDA Project Area 1; 2002 RDA Project Area 1; 2003 RDA Project Area 1; 2004 Local Agency Revenue; 2013 Successor Agency; and 2016 Successor Agency to the La Quinta RDA Assessment Districts. 139 20 Appendix E Investment Management Process and Risk Except as provided for in Section 27000.3, Government Code Section 53600.3 declares as a trustee each person, treasurer, or governing body authorized to make investment decisions on behalf of local agencies. Trustees are subject to the prudent investor standard. These persons shall act with care, skill, prudence, and diligence under the circumstances then prevailing when investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing funds. Section 53600.5 further stipulates that the primary objective of any person investing public funds is to safeguard principal; secondly, to meet liquidity needs of the depositor; and lastly, to achieve a return or yield on invested funds (Government Code Section 27000.5 specifies the same objectives for county treasurers and board of supervisors). Risk is inherent throughout the investment process. There is investment risk associated with any investment activity and opportunity risk related to inactivity. Market risk is derived from exposure to overall changes in the general level of interest rates while credit risk is the risk of loss due to the failure of the insurer of a security. The market value of a security varies inversely with the level of interest rates. If an investor is required to sell an investment with a five percent yield in a comparable seven percent rate environment, that security will be sold at a loss. The magnitude of that loss will depend on the amount of time until maturity. Purchasing certain allowable securities with a maturity of greater than five years requires approval of the governing board (see Government Code Section 53601). Part of that approval process involves assessing and disclosing the risk and possible volatility of longer-term investments Another element of risk is liquidity risk. Instruments with call features or special structures, or those issued by little known companies, are examples of "story bonds" and are often thinly traded. Their uniqueness often makes finding prospective buyers in a secondary market more difficult and, consequently, the securities' marketability and price are discounted. However, under certain market conditions, gains are also possible with these types of securities. Default risk represents the possibility that the borrower may be unable to repay the obligation as scheduled. Generally, securities issued by the federal government and its agencies are considered the most secure, while securities issued by private corporations or negotiable certificates of deposit issued by commercial banks have a greater degree of risk. Securities with additional credit enhancements, such as bankers acceptances, collateralized repurchase agreements and collateralized bank deposits are somewhere between the two on the risk spectrum. The vast majority of portfolios are managed within a buy and hold policy. Investments are purchased with the intent and capacity to hold that security until maturity. At times, market forces or operations may dictate swapping one security for another or selling a security before maturity. Continuous analysis and fine tuning of the investment portfolio are considered prudent investment management. The Government Code contains specific provisions regarding the types of investments and practices permitted after considering the broad requirement of preserving principal and maintaining liquidity before seeking yield. These provisions are intended to promote the use of reliable, diverse, and safe investment instruments to better ensure a prudently managed portfolio worthy of public trust. Chapter II. Fund Management from the Local Agency Investment Guidelines Issued by California Debt and Investment Advisory Commission 140 21 Appendix F GLOSSARY (Adopted from the Municipal Treasurers Association) The purpose of this glossary is to provide the reader of the City of La Quinta investment policies with a better understanding of financial terms used in municipal investing. AGENCIES: Federal agency securities and/or Government-sponsored enterprises. ASKED: The price at which securities are offered. BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer. BROKER: A broker brings buyers and sellers together for a commission. CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large- denomination CD's are typically negotiable. COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. COMMERCIAL PAPER: Short-term unsecured promissory notes issued by a corporation to raise working capital. These negotiable instruments are purchased at a discount to par value or at par value with interest bearing. Commercial paper is issued by corporations such as General Motors Acceptance Corporation, IBM, Bank America, etc. COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual report for the City of La Quinta. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. CONDUIT FINANCING: A form of Financing in which a government or a government agency lends its name to a bond issue, although it is acting only as a conduit between a specific project and bond holders. The bond holders can look only to the revenues from the project being financed for repayment and not to the government or agency whose name appears on the bond. COUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a payment date. DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. DEBENTURE: A bond secured only by the general credit of the issuer. DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities). DISCOUNT: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount. DISCOUNT SECURITIES: Non-interest bearing money market instruments that are issued at discount and redeemed at maturity for full face value 141 25 DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns. FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L's, small business firms, students, farmers, farm cooperatives, and exporters. 1. FNMAs (Federal National Mortgage Association) - Like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder­ owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest. 2. FHLBs (Federal Home Loan Bank Notes and Bonds) - Issued by the Federal Home Loan Bank System to help finance the housing industry. The notes and bonds provide liquidity and home mortgage credit to savings and loan associations, mutual savings banks, cooperative banks, insurance companies, and mortgage-lending institutions. They are issued irregularly for various maturities. The minimum denomination is $5,000. The notes are issued with maturities of less than one year and interest is paid at maturity. 3. FLBs (Federal Land Bank Bonds) - Long-term mortgage credit provided to farmers by Federal Land Banks. These bonds are issued at irregular times for various maturities ranging from a few months to ten years. The minimum denomination is $1,000. They carry semi­ annual coupons. Interest is calculated on a 360-day, 30 day month basis. 4. FFCBs (Federal Farm Credit Bank) - Debt instruments used to finance the short and intermediate term needs of farmers and the national agricultural industry. They are issued monthly with three- and six-month maturities. The FFCB issues larger issues (one to ten year) on a periodic basis. These issues are highly liquid. 5. FICBs (Federal Intermediate Credit Bank Debentures) - Loans to lending institutions used to finance the short-term and intermediate needs of farmers, such as seasonal production. They are usually issued monthly in minimum denominations of $3,000 with a nine-month maturity. Interest is payable at maturity and is calculated on a 360-day, 30-day month basis. 6. FHLMCs (Federal Home Loan Mortgage Corporation) - a government sponsored entity established in 1970 to provide a secondary market for conventional home mortgages. Mortgages are purchased solely from the Federal Home Loan Bank System member lending institutions whose deposits are insured by agencies of the United States Government. They are issued for various maturities and in minimum denominations of $10,000. Principal and interest is paid monthly. Other federal agency issues are Small Business Administration notes (SBA's), Government National Mortgage Association notes (GNMA's), Tennessee Valley Authority notes (TVA's), and Student Loan Association notes (SALLIE-MAE's). FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit through December 31, 2013. FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open­ market operations. FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks) which lend funds and provide 142 25 correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank. FEDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money. FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHM mortgages. The term "pass-throughs" is often used to describe Ginnie Maes. LAIF (Local Agency Investment Fund) - A special fund in the State Treasury which local agencies may use to deposit funds for investment. There is no minimum investment period and the minimum transaction is $5,000, in multiples of $1,000 above that, with a maximum balance of $50,000,000 for any agency. The City is restricted to a maximum of ten transactions per month. It offers high liquidity because deposits can be converted to cash in 24 hours and no interest is lost. All interest is distributed to those agencies participating on a proportionate share basis determined by the amounts deposited and the length of time they are deposited. Interest is paid quarterly. The State retains an amount for reasonable costs of making the investments, not to exceed one-half of one percent of the earnings. LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. LOCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold. MASTER REPURCHASE AGREEMENT: A written contract covering all future transactions between the parties to repurchase--reverse repurchase agreements that establish each party's rights in the transactions. A master agreement will often specify, among other things, the right of the buyer­ lender to liquidate the underlying securities in the event of default by the seller-borrower. MATURITY: The date upon which the principal or stated value of an investment becomes due and payable MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers' acceptances, etc.) are issued and traded. OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid. OPEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve's most important and most flexible monetary policy tool. PORTFOLIO: Collection of all cash and securities under the direction of the City Treasurer, including Bond Proceeds. 143 25 PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC) registered securities broker- dealers, banks and a few unregulated firms. QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return. REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in effect lends the "seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money that is increasing bank reserves. REVERSE REPURCHASE AGREEMENTS (RRP or RevRepo) - A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security"buyer" in effect lends the"seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for t h i s . Dealers use RRP extensively to finance their positions. Exception: When the Fed is said to be doing RRP, it is lending money that is increasing bank reserves. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection. SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution. SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation. SEC RULE 15C3-1: See Uniform Net Capital Rule. STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, SLMA, etc.) and Corporations which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, and derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve. SURPLUS FUNDS: Section 53601 of the California Government Code defines surplus funds as any money not required for immediate necessities of the local agency. The City has defined immediate necessities to be payment due within one week. TREASURY BILLS: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months or one year. TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years. TREASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years. UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. UNIFORM PRUDENT INVESTOR ACT: The State of 144 25 California has adopted this Act. The Act contains the following sections: duty of care, diversification, review of assets, costs, compliance determinations, delegation of investments, terms of prudent investor rule, and application. YIELD: The rate of annual income return on an investment, expressed as a percentage. (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond 145 146 2018/19 INVESTMENT POLICY ATTACHMENT 1 147 1 CITY OF LA QUINTA Investment Policy FlscalYear 201187/201819 Table of Contents Section I II III IV V VI VII VIII IX X XI XII XIII XIV xv XVI XVII Topic Executive Summary General Purpose Investment Policy Scope Objectives Safety of Principal Provide Liquidity Yield A Risk-Based Market Rate Of Return Maximum Maturities Prudence Authority Ethics and Conflicts of Interest Authorized Financial Dealers and Institutions Broker/Dealers Financial Institutions Permissible Deposits and Investments Investment Pools Payment and Custody Interest Earning Distribution Policy Internal Controls and Independent Auditors Reporting Standards Financial Assets and Investment Activity Not Subject to this Policy Investment of Bond Proceeds Page 2 4 4 4 4 6 6 6 7 7 8 12 13 13 13 14 15 15 16 Appendices Topic 17 24 Comment [RH1]: All page numbers will be adjusted on final copy to match placement in document 148 2 CITY OF LA QUINTA Investment Policy FlscalYear2017Fiscal Year 2018/20182019 Executive Summary The general purpose of this Investment Policy is to provide the rules and standards that must be followed in administering the City of La Quinta's (the “City”) deposits and investments. The City's Investment Policy conforms to all state and local statutes and applies to all deposits and investments of the City of La Quinta. (the "City"), with the exception of bond proceeds and those noted in section XVI herein.. It is the City's policy to deposit and invest public funds in a manner that shall provide safety of principal, liquidity to meet all of the City’s obligations and requirments that may be reasonably anticipated and a risk-based market rate of return.: Safety of principal; Liquidity to meet all of the City's obligations and requirements that may be reasonably anticipated; and A risk-based market rate of return. It is the City's policy to generally hold securities and other investments until maturity. This buy- and-hold policy shall not prevent the sale of a security to minimize loss of principal when an issuer or backer suffers declining credit worthiness, when the liquidity needs of the portfolio require that a security be sold, or when a sale/repurchase is fiscally advantageous based on market conditions and fits the needs of the portfolio. Authority to manage the City's investment portfolio is derived from the City Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer, who shall establish and implement written procedures for the operation of the City's investment program consistent with the Investment Policy. The Treasurer shall establish and implement a system of internal controls to accomplish the following objectives: Safeguard assets; Orderly and efficiently conduct its business, including adherence to all City management policies; Prevent or detect errors and fraud; Accurately complete all accounting records; and Timely prepare all reliable financial information. The System of Internal Controls developed by the City Treasurer shall be reviewed annually by the independent auditors in connection with the annual audit of the City's financial statements. The City Manager, City Treasurer and city employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. The City Treasurer maintains a listing of financial institutions which are approved for investment purposes. All Broker/Dealers and financial institutions that provide investment services will be subject to City Council approval. The Treasurer will be permitted to invest only in the permissible deposits and investments described in Section X and Appendix A up to the specified maximum allowable percentages Comment [RH2]: Removed. Verbatim on page 6 section V Formatted: Justified, Indent: Left: 0.79", First line: 0.01", Right: 0.37", Space Before: 0 pt, Line spacing: Multiple 1.07 li, No bullets or numbering Comment [RH3]: Removed. Verbatim on page 8 section IX Comment [RH4]: Removed- see section X. Appendix A also removed 149 3 and/or dollar limitations and, where applicable, through the bid process requirements. Permissible deposits and investments include, in general: 150 4 FDIC-Insured Checking, Savings, and Sweep Accounts; Collateralized Bank Deposits; Certificates of Deposit; Certificates of Deposit (Negotiable and Non-Negotiable); U.S. Government Agency Securities and Federal Government Securities; Prime Commercial Paper; Local Agency Investment Fund (LAIF); Money Market Mutual Funds; Corporate Notes; and Professionally Managed Accounts. The City's deposits and investments are generally limited to five years maximum maturity. However, the projected amount of funds not expected to be disbursed within five years may be invested in notes and bonds maturing between three and five years. Additionally, funds may be invested for up to ten (10) years as further discussed in Section V. The City's Investment Policy does not specify a single benchmark as a goal or target yield for a rate of return on its investment portfolio. As a basis for comparison only, the Treasurer's monthly report will display the rates of return on the three-month Bill, six-month Bill, and the one and two-year U.S. Treasury Note, comparable-period rates for commercial paper, and the yield for the State Treasurer's Local Agency Investment Fund (LAIF). The Investment Policy shall be adopted by resolution of the La Quinta City Council on an annual basis,. The Investment Policy will be adopted before the end of June of each fiscal year (June). This Executive Summary is only an overview of the City's Investment Policy. Reading this summary does not constitute a complete review, which can only be accomplished by reviewing all of the pages herein. Comment [RH5]: Removed. Verbatim on page 6 section IV.3 151 5 City of La Quinta Statement of Investment Policy July 1, 20178 through June 30, 20189 Adopted by the City Council on I GENERAL PURPOSE The general purpose of this document is to provide the rules and standards that must be followed in administering the City of La Quinta's deposits and investments. II INVESTMENT POLICY It is the policy of the City of La Quinta to deposit and invest public funds in a manner that shall provide: Safety of principal; Liquidity to meet all of the City's obligations and requirements that may be reasonably anticipated; and A risk-based market rate of return. The Investment Policy conforms to all State and local statutes governing the investment of public funds and sets forth the permissible deposits and investments of the City's funds and the limitations thereon. III SCOPE Except as further detailed in Section XVI and XVII, this Investment Policy applies to all deposits and investments of the City of La Quinta, the Successor Agency to the City of La Quinta Redevelopment Agency, and the City of La Quinta Financing and Housing Authorities (hereafter referred to in this document as the "City" or the “Agency”). These funds are reported in the City's Comprehensive Annual Financial Report (CAFR) and include all funds within the following fund types: General Special Revenue Capital Projects Debt Service Enterprise Internal Service Trust and Agency Any new fund types and fund(s) that may be created. IV OBJECTIVES The objectives of the City's investment activity, in order of priority and importance, are: 1.Safety of Principal Safety of principal is the foremost objective of the City's investment program. Investments shall be undertaken in a manner that seeks to ensure the preservation of principal of the overall portfolio in accordance with the permissible deposits and investments. Formatted: Indent: Left: 0.8", First line: 0", Right: 0.33", Space Before: 0 pt, Line spacing: Multiple 1.04 li, No bullets or numbering Comment [RH6]: Redundant; this information is also under objectives below 152 6 The City shall endeavor to preserve its investment principal by making only permissible deposits and investments, undertaken in a controlled manner to minimize the possibility of loss or misappropriation through malfeasance or otherwise. Investments not backed by the full faith and credit of the United States Government shall be diversified by allocating assets between different types of permissible investments, maturities, and issuers as a means to mitigate credit risk and interest rate risk. a.Credit Risk is the risk of loss from the failure of the security issuer or backer. Credit risk may be mitigated by: Limiting investments to investment grade securities as permitted in Section X; and Diversifying the issuers of the securities in the investment portfolio so that potential losses due to issuer failure or individual securities downgrades may be minimized. b.Interest Rate Risk is the risk that market values of securities in the portfolio will decline due to changes in general interest rates. Interest rate risk may be mitigated by: Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity; and Investing operating funds primarily in shorter-term securities. c.Liquidity Risk is the risk that a security cannot be liquidated because of its unique features or structure or because it is thinly traded. Liquidity risk is not a material issue for the City's portfolio because of the permissible deposits and investments (see Section X). and because the City maintains a buy-and-hold policy and holds securities and other investments to maturity. A discussion of the City's investment process and risk is presented in Appendix EI. 2.Provide Liquidity The investment portfolio shall remain sufficiently liquid to meet all of the City's cash needs that may be reasonably anticipated. This is accomplished by structuring the portfolio so that sufficient liquid funds are available to meet anticipated demands. Furthermore, since all possible cash needs cannot be anticipated the portfolio should be diversified and consist of securities with active secondary or resale markets. The City's policy is to generally hold securities and other investments to maturity. Accordingly, securities shall not be sold prior to maturity with the following exceptions: A security with declining credit quality can be sold early to minimize loss of principal. Unanticipated liquidity needs of the portfolio require that one or more securities be sold. When a sale/repurchase is fiscally advantageous based on market conditions and fits the needs of the portfolio 3.Yield a Risk-Based Market Rate of Return The City's investment portfolio shall be structured with the objective of yielding a risk-based market rate of return throughout budgetary and economic cycles. Return on investment is less important than the safety and liquidity objectives described above. The City's Investment Policy does not specify a single benchmark as a goal or target yield for Comment [RM7]: Removed to match last year’s update- see next section 153 7 a rate of return on its investment portfolio. The portfolio's rates of return will be influenced by several factors, including actions by the Federal Reserve Board, the marketplace, and overall economic perceptions and conditions. These factors will not affect yield during the securities' holding period because the City's buy-and-hold policy fixes the securities' yield at the time of purchase. As a basis for comparison only, the Treasurer's monthly quarterly reports will display the rates of return on the three-month Bill, six-month Bill, and one and two-year U.S. Treasury Note, comparable-period rates for commercial paper, and the yield for the State Treasurer's Local Agency Investment Fund (LAIF). The Treasurer may use these or any other published rates of return that the Treasurer deems appropriate for comparison to the return on the City's investment portfolio. V MAXIMUM MATURITIES It is the City's policy to generally hold securities and other investments until maturity. This buy- and-hold policy shall not prevent the sale of a security as listed in section IV.3 It is the City's policy to hold securities and other investments until maturity, thus avoiding the risk of market value fluctuations with overall market interest rates. This buy-and-hold policy shall not prevent the sale of a security to minimize loss of principal when an issuer or backer suffers declining credit worthiness or when the liquidity needs of the City require that a security be sold. The general buy-and-hold policy strategy requires that the City's investment portfolio be structured so that sufficient liquid funds are available from maturing investments and other sources to meet all reasonably- anticipated cash needs. To meet anticipated cash needs, it is essential that the Treasurer have reliable, diligently prepared cash flow projections. The City shall follow Title 5 of the California Government Code §53601 (the “State Code”) regarding maximum maturities, in that “ no investment shall be made in any security…that at the time of the investment has a term remaining to maturity in excess of five years”. Annually, the Treasurer shall project the amount of funds not expected to be disbursed within ten years. For FY 2017118 the amount of such funds is projected to be $20 million. Funds up to that amount may be invested in Local Agency Obligations and California Local Agency Obligations maturing between 3 and 10 years. For all other funds, investments are limited to five years maximum maturity. VI PRUDENCE and FIDUCIARY DUTY The City shall follow the Code §53600.3 regarding fiduciary duty and the Prudent Investment Standard as follows: Except as provided in subdivision (a) of Section 27000.3, all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency. Within the limitations of this Comment [RM8]: Changed to follow Government Code as opposed to Probate Code. Overall definition of Prudent Investor remains 154 8 section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law The City shall follow the Uniform Prudent Investor Act as adopted by the State of California in Probate Code Sections 16045 through 16054. Section 16053 sets forth the terms of a prudent person which are as follows: Investments shall be made “using the judgment and care - under circumstances then prevailing - which persons of prudence, discretion, and intelligence exercise in the professional management of their own affairs, not for speculation, but for investment, considering the probable income as well as the probable safety of their capital.” VII AUTHORITY Authority to manage the City's investment portfolio is derived from section 3.08 of the City's Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer for a period of one year pursuant to the City Council's annual adoption of the Investment Policy. The City Treasurer shall establish written procedures for the operation of the investment program consistent with the Investment Policy. Procedures should include reference to safekeeping, wire 155 9 transfer agreements, banking service contracts, and collateral/depository agreements. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this Investment Policy and the procedures established by the City Treasurer. The City Treasurer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials. VIII ETHICS AND CONFLICTS OF INTEREST The City Manager, City Treasurer and city employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. Any questionable activity or relationship shall be reported immediately and in compliance with the procedures set forth in Section 1.40 - Conflicts of Interest and Acceptance of Gifts and other Gratuities of the City of La Quinta Personnel Manual. Reporting must be made in accordance with the personnel policies of the City and, until resolved, the officer or employee shall refrain from participating in the City's business related to the matter. The City Manager, City Treasurer and City employees may conduct personal business with banks, brokers, and other financial institutions that are authorized to conduct business with the City provided that the terms of the activity to the accountholder with the City are the same as those that are available to the public in general. IX AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The City Treasurer maintains a listing of financial institutions which are approved for direct investment purposes. In addition a list will also be maintained of approved broker/dealers selected by credit worthiness. 1.Broker/Dealers who desire to become bidders for direct investment transactions must supply the City with the following: Current audited financial statements; Proof of Financial Industry Regulatory Authority (FINRA) Certification; Trading resolution; Resume of Financial broker; and Completion of the City of La Quinta Broker/Dealer questionnaire (see Appendix F) which contains a certification of having read the City's Investment Policy. The City Treasurer shall evaluate the documentation submitted by the broker/dealer and independently verify existing reports on file for any firm and individual conducting investment related business. The City Treasurer will also contact the following agencies during the verification process: Financial Industry Regulatory Authority (FINRA) Public Disclosure Report File (1-800- 289-9999). State of California Department of Corporations (1-916-445-3062). The City Treasurer maintains a listing of financial institutions which are approved for investment purposes.. A professional investment manager or management firm, if engaged by the City pursuant to Section X of this policy, may utilize their own list of approved broker/dealers on the condition that any such list is provided to the City upon request. 156 10 All Broker/Dealers and financial institutions that provide investment services will be subject to City Council approval Each securities dealer shall provide monthly and quarterly reports filed pursuant to U.S. Treasury Department regulations. Each mutual fund shall provide a prospectus and statement of additional information. 2.Financial Institutions will be required to meet the following criteria in order to receive City funds for deposit or investment (see Appendix DE, "Listing of Approved Financial Institutions"): a. Insurance - Public Funds shall be deposited only in financial institutions having accounts insured by the Federal Deposit Insurance Corporation (FDIC). b.Collateral- The amount of the City's deposits or investments not insured by the FDIC shall be collateralized by securities with market values of 110%, or by mortgages with market values 150%, of the amount of invested funds plus unpaid interest earnings. c.Disclosure - Each financial institution maintaining invested funds in excess of the FDIC insured amount shall furnish the City a copy of the most recent Call Report. The City shall not invest in excess of the FDIC insured amount in banking institutions which do not disclose to the city a current listing of securities pledged for collateralization in public monies. X PERMISSIBLE DEPOSITS AND INVESTMENTS The City’s shall follow the applicable State Code in regard to allowable securities. Permissible deposits and investments, as allowed by Chapter 4, Part 1, Division 2, Title 5 (hereinafter cited by §), include, but are not limited to, the following: Permissible deposits and investments are summarized below. A more comprehensive list is included in Appendix A. Permissible Deposits and Investments City Maximum Allocation (Footnote 1) City Restrictions City Maximum Maturity Checking & Savings Accounts (FDIC Insured) & Sweep Accounts 85% Portfolio Sweep Account: U.S. Treasuries and/or GSE's Current/On Demand Interest bearing active bank deposits - non FDIC insured collateralized by 110% of eligible securities 60% Portfolio $40,000,000 per bank Current /on Demand Certificate of Deposit (negotiable and non-negotiable) 30 % Portfolio <= $250,000 including interest per institution 5 years U.S. Treasury Bills, Notes and Bonds, and Government National Mortgage Association (GNMA) securities 100% Portfolio <=$30,0000,000 maturing 3-5 Yrs. 5 years Formatted: Normal, Left, Indent: Left: 0.5", First line: 0", Right: 0", Space Before: 0 pt, Line spacing: single, Tab stops: 3.18", Left Comment [RH9]: Eliminate chart here- data is in the paragraphs Formatted: Indent: Left: 0.79", First line: 0", Right: 0.33", Line spacing: Multiple 1.07 li 157 11 U.S. Government Agency Securities and Federal Government Securities (except collateralized mortgage obligations (CMO's) or structured notes which contain embedded rate options): 30% of Portfolio combined $10 million per purchase 158 12 -Federal National Mortgage Association (FNMA) -Federal Home Loan Bank Notes & Bonds (FHLB) -Federal Farm Credit Bank (FFCB) -Federal Home Loan Mortgage Corporation (FHLMC) $20,000,000 per issuer $25,000,000 per issuer $30,000,000 per issuer $20,000,000 per issuer 5 years 5 years 5 years 5 years Prime Commercial Paper 15% Portfolio $5,000,000 per issuer maximum 90 days Local Agency Investment Fund (LAIF) $50,000,000 $50,000,000 per account Current/On Demand Money market mutual funds regulated by the SEC that consist only of US Treasury Securities or Government Sponsored Enterprises (GSE's) 20% Portfolio Mutual fund must have in excess of $500 million in assets under management or receive the highest rating from at least two of the three major rating services 90 Days Corporate Notes 10% Portfolio $5,000,000 max per issuer AA or better rating 3 years Corporate Notes - ) 20% Portfolio $10,000,000 max per issuer 3 years Professionally Managed Account 10% Portfolio Requires Approved RFP 3 years Local Agency Bonds/California Agency Obligations 30% <=$30,000,0000 10 years Long-Term Scale S&P A1 AAA, AA+, AA, AA-, A+, A Moody's P1 Aaa, Aa1, Aa2, Aa3, A1, A2 Fitch AAA, AA+, AA, AA-, A+, A Checking. Savings. and Sweep Accounts - The City will only maintain checking, sand savings, and sweep accounts with FDIC insured financial institutionsstate or national banks, savings associations, federal assoications, and/or credit unions in accordance with §53635.2. As authorized by the City Council, a U.S. Treasury and/or U.S. Agency Securities Money Market Sweep Account may be maintained in conjunction with the checking account. In addition, the Treasurer may invest in an interest bearing active deposit account as approved in Government Code Section§ 53632. The deposit account must be collateralized with securities that are in accordance with Government Code Sections§ 53632.5(c). In addition, the market value of the collateralized securities must be maintained in accordance with §53652 (a), and be held by a custodian in accordance with the requirements of Government Code Section§ 53656. The proposition of the City's share of the deposit account shall be determined in accordance with Government Code Section§ 53658. Comment [RH10]: Consider making this same dollar amount for all, or percentage of total Comment [RH11]: Alternative to listing amount at $65,000,000 would be to say “up to statutory limits” or similar language Comment [RM12]: For discussion- should we increase? Formatted: Indent: Left: 1.29", First line: 0" Formatted: Normal, Indent: Left: 1.29", First line: 0", Right: 0.37", Space Before: 4.7 pt 159 13 Certificates of Deposit (Negotiable and Non-negotiable) - As authorized in Government Code Section 53601, local governments may invest up to 30% of their portfolios in Certificates of Deposits and 30% in Negotiable Certificates of deposits. The City's policy is toto the City may invest in limit combined Non-Negotiable and Negotiable Certificates of Deposits (CD)up to 30% of the overall portfolio §53601 (i). Each CD is limited In no instance shall a CD or combined CD’s with a single issuer exceed to the FDIC or NCUSIF insurance limit of $250,000. U.S. Treasury Bills. Notes. and Bonds and Government National Mortgage Associations (GNMA) securities - The City may invest in U.S. Treasury bills, notes, and bonds and GNMA securities directly issued and backed by the full faith and credit of the U.S. Government. The City's Investment Policy provides for investments in U.S. Treasury issues and GNMA's of 100% of the portfolio §53601(b). ►The City's Investment Policy does not allow investments in state indebtedness. U.S. Government Agency Securities and Federal Government Securities - The City may invest in securities issued by U.S. Government instrumentalities and agencies (commonly referred to as government sponsored enterprises or GSE's) §53601(f). These securities are not backed by the full faith and credit of the U.S. Government. Publicly owned GSE's include Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Student Loan Marketing Association (SLMA). Non-publicly owned GSE's include the Federal Home Loan Bank (FHLB), Federal Farm Credit Bank (FFCB), Federal Land Bank (FLB) and Federal Intermediate Credit Bank (FICB). The City's Investment Policy allows investment only in securities of FNMA, FHLMC, FHLB and FFCB. For Fiscal Year 20171182018-19, the maximum face amount per issuer is $20 million. for FNMA and FHLMC, $25 million for FHLB and $30 million for FFCB. In addition, no more than 30% of the portfolio surplus may be invested in all GSE's combined, with and a maximum $10 million face amount per purchase. Prime Commercial Paper -As authorized in Government Code Section§ 53601(h), a portion of the City's portfolio may be invested in commercial paper of the highest rating (A1 or P1)as provided for by a nationally recognized statistical rating organization (NRSRO- ie Moodys, Fitch or S&P) as rated by Moody's or Standard and Poor's. There are a number of other qualifications regarding investments in commercial paper based on the financial strength of the corporation and the size of the investment. The City's Investment Policy permits investments in commercial paper with the following limitations: Maximum 15% of the portfolio; Maximum maturity of 90 days; and Maximum of $5 million per issuer. Per state code, "Eligible commercial paper shall have a maximum maturity of 270 days or less. Local agencies, other than counties or a city and county, may invest no more than 25 percent of their moneys in eligible commercial paper. Local agencies, other than counties or city and county, may purchase no more than 10 percent of the outstanding commercial paper of any single issuer. Local Agency Investment Fund (LAIF) -As authorized in Government Code Section§ 16429.1 and by LAIF procedures, local government agencies are each authorized to invest a maximum of $50 65 million per account in this investment program administered by the Formatted: Normal, Left, Indent: Left: 1.29", Right: 0", Space Before: 4.65 pt, Line spacing: single Comment [RM13]: For simplicity, recommend $20 mil max or percentage based per issuer. Formatted: Justified, Indent: Left: 1.29", First line: 0", Right: 0.37", Space Before: 4.7 pt, Line spacing: Multiple 1.08 li, No bullets or numbering, Tab stops: Not at 1.8" 160 14 California State Treasurer. The City Treasurer may not invest more than $50 65 million per account in LAIF. The City's investment in LAIF is allowable as long as the average maturity of its investment portfolio does not exceed two years, unless specific approval is authorized by the City Council. Money Market Mutual Funds - As authorized in Government Code Section§ 53601(kl), local agencies are authorized to invest in shares of beneficial interest issued by diversified management companies (mutual funds) in an amount not to exceed 20% of the agency's portfolio. There are a number of other qualifications and restrictions regarding allowable investments in corporate notes and shares of beneficial interest issued by mutual funds which include (1) attaining the highest ranking or the highest letter and numerical rating provided by not less than two of the three largest nationally recognized rating services, or (2) having an investment advisor registered with the Securities and Exchange Commission with not less than five years' experience investing in the securities and obligations and with assets under management in excess of five hundred million dollars ($500,000,000). The City's Investment Policy only allows investments in mutual funds that invest in direct issues of the U.S. Treasury and/or US Agency Securities with an average maturity of their portfolio not exceeding 90 days and the City limits such investments to 20% of the portfolio with the exception of bond proceeds with the fiscal agent which are subject to bond indentures, not the City's Investment Policy. Corporate Notes - As authorized in Government Code Section §53601 Uk), local agencies may invest in corporate notes. The notes must be issued by corporations organized and operating in the United States or by depository institutions licensed by the United States or any other state and operating in the United States. The City's Investment Policy allows investment in corporate notes authorized by the Government Code with the following limitations: Maximum 1030% of the portfolio; Maturities shall not exceed three five years from date of purchase; Eligible notes shall be regularly quoted and traded in the marketplace; Eligible notes shall be rated "AA" or better; and The maximum aggregate investment in each issuer shall not exceed $5 million face amount for each issuer(PAR value). This is more restrictive than the State code allowed amounts of 30% of the total portfolio with maturities up to five years with no per-issuer limitations. Professionally Managed Account(s)- The City Treasurer may place up to 1050% of the portfolio with a professional portfolio management/investment management firm (firm) ("PPMF"). The PPMF firm will be approved by the City Council based upon the City Treasurer's recommendation pursuant to completion of a public request for proposal (RFP) as outlined in Appendix G. The PPMF firm shall have: An established professional reputation for asset or investment management; Knowledge and working familiarity with State and Federal laws governing and restricting the investment of public funds; Substantial experience providing investment management services to local public agencies whose investment policies and portfolio size are similar to those ofthe City; Professional liability (errors and omissions) insurance and fidelity bonding in such amounts as are required by the City; and Registration with the Securities and Exchange Commission under the Investment Advisers Act of 1940. 161 15 Before engagement by the City and except as may be specifically waived or revised, the PPMF firm shall commit to adhere to the provisions of the City's Investment Policy with the following exceptions: The PPMF firm may be granted the discretion to purchase and sell investmentsecurities in accordance with Appendix I ofwith this Investment Policy;The PPMF firm is not required to adhere to theto a buy-and-hold policy of the City'sInvestmentPolicy; and The PPMF firm does not need City Manager or City Treasurer approval to make permissible investments. Local Agency Bonds and California Local Agency Obligations - The City may invest in California local agency obligations pursuant to §5630153601(a) and §5330153601(e). 53601(a) pertains to investing in bonds issued by a local agency, or by the department, board, agency or authority of the local agency. 53601(e) pertains to investing in bonds and other defined indebtedness of any locaI agency, or department, board, agency or authority of the local agency within the State of California. The City's Investment Policy limits investments in Local Agency Bonds and California Local Agency obligations to 30% of the portfolio with up to a ten year maximum maturity. In addition, tThe Agency obligations must be invested in the long term rating of A, A2, A or better by S&P, Moody's or Fitch. In the case of an initial public offering, including refinancings, the Treasurer may purchase directly from the Bond Underwriter. In the case of secondary issues, the Treasurer will rely on the approved Broker/Dealers. XI INVESTMENT POOLS There are three (3) types of investment pools: State-run pools (e.g., LAIF); Pools that are operated by a political subdivision where allowedby law and the political subdivision is the trustee (e.g., CountyPools); and Pools that are operated for profit by third parties. The City's Investment Policy permits investment only in pools authorized in Section X.by Government Code. XII PAYMENT AND CUSTODY The City shall engage qualified third party custodians to act in a fiduciary capacity to maintain appropriate evidence of the City's ownership of securities and other eligible investments. Such custodians shall disburse funds, received from the City for a purchase, to the broker, dealer or seller only after receiving evidence that the City has legal, record ownership of the securities. Even though ownership is evidenced in book-entry form rather than by actual certificates, this procedure is commonly accepted as the delivery versus payment (DVP) method for the transfer of securities. XIII INTEREST EARNING DISTRIBUTION POLICY 162 16 Interest earnings are generated from pooled investments and specific investments. The following provisions apply to the calculation and distribution of interest earnings. 1.Pooled Investments - It is the general policy of the City to pool all available operating cash of the City of La Quinta, Successor Agency to the City of La Quinta Redevelopment Agency, La Quinta Financing Authority, and La Quinta Housing Authority, and to allocate interest earnings in the following order, as follows: a.Payment to the General Fund of an amount equal to the total annual bank service charges as incurred by the general fund for all operating funds as included in the annual operating budget. b.Payment to the General Fund of a management fee equal to 5% of the annual pooled cash fund investment earnings. c.Payment to each fund of an amount based on the average computed daily cash balance included in the common portfolio for the earning period. 2.Specific Investments - Specific investments purchased by a fund shall incur all earnings and expenses to that particular fund. XIV INTERNAL CONTROLS AND INDEPENDENT AUDITOR The City Treasurer shall establish a system of internal controls to accomplish the following objectives: Safeguard assets; The orderly and efficient conduct of its business, including adherence to management policies; Prevention or detection of errors and fraud; The accuracy and completeness of accounting records; and Timely preparation of reliable financial information. While no internal control system, however elaborate, can guarantee absolute assurance that the City's assets are safeguarded, it is the intent of the City's internal control to provide a reasonable assurance that management of the investment function meets the City's objectives. The internal controls shall address the following: Control of collusion. Collusion is a situation where two or more employees are working in conjunction to defraud their employer. Separation of transaction authority from accounting and record keeping. By separating the person who authorizes or performs the transaction from the people who record or otherwise account for the transaction, a separation of duties is achieved. Custodial safekeeping. Securities purchased from any bank or dealer including appropriate collateral (as defined by State Law) shall be placed with an independent third party for custodial safekeeping. Avoidance of physical delivery securities. Book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. Delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. 163 17 Clear delegation of authority to subordinate staff members. Subordinate staff members must have a clear understanding of their authority and responsibilities to avoid improper actions. Clear delegation of authority also preserves the internal control structure that is contingent on the various staff positions and their respective responsibilities as outlined in the Segregation of Major Investment Responsibilities appendices. Written confirmation of telephone transactions for investments and wire transfers. Due to the potential for error and improprieties arising from telephone transactions, all telephone transactions shall be supported by written communications or electronic confirmations and approved by the appropriate person. Written communications may be via fax or email if on letterhead and the safekeeping institution has a list of authorized signatures. Fax correspondence must be supported by evidence of verbal or written follow-up. Development of a wire transfer agreement with the City's bank and third party custodian. This agreement should outline the various controls, security provisions, and delineate responsibilities of each party making and receiving wire transfers. The system of internal controls developed by the City, shall be reviewed annually by the independent auditor in connection with the annual audit of the City's Financial Statements. The independent auditor's letter on internal control over financial reporting and compliance as it pertains to cash and investments, if any, shall be directed to the City Manager who will direct the City Treasurer to provide a written response to the independent auditor's letter. The auditor's letter, as it pertains, to cash and investment activities and the City Treasurer's response shall be provided to the City's Financial Advisory Commission for their consideration. Following the completion of each annual audit, the independent auditor shall meet with the Financial Advisory Commission and discuss the auditing procedures performed and the review of internal controls for cash and investment activities. See Appendix DC, "Segregation of Major Investment Responsibilities." XV REPORTING STANDARDS The City Treasurer shall submit a monthly Treasurers Report to the City Council and the Financial Advisory Commission that includes all cash and investments under the authority of the Treasurer. The Treasurer's Report shall summarize cash and investment activity and changes in balances and include the following: A certification by the City Treasurer; A listing of purchases and sales/maturities of investments; Cash and Investments categorized by authorized investments, except for LAIF which will be provided quarterly and show yield and maturity; Comparison of month end actual holdings to Investment Policy limitations; Balance Sheet; Distribution of cash and investment balances by fund; A two-year list of historical interest rates. XVI FINANCIAL ASSETS AND INVESTMENT ACTIVITY NOT SUBJECT TO THIS POLICY The City's Investment Policy does not apply to the following: Cash and Investments raised from Conduit Debt Financing; Funds held in trust in the City's name in pension or other post-retirement benefit programs; Formatted: Font: 10.5 pt, Bold, Italic, No underline 164 18 Cash and Investments held in lieu of retention by banks or other financialinstitutions for construction projects; and Short or long term loans made to other entities by the City or Agency, Short term (Due to/from) or long term (Advances from/to) obligations made either between the City and its funds or between the City and Agency. XVII INVESTMENT OF BOND PROCEEDS The City's Investment Policy shall not govern bond proceeds and bond reserve fund investments. California Code Section 5922 (d) governs the investment of bond proceeds and reserve funds in accordance with bond indenture provisions. Arbitrage Requirement - The US Tax Reform Act of 1986 requires the City to perform arbitrage calculations as required and return excess earnings to the US Treasury from investments of proceeds of bond issues sold after the effective date of this law. These arbitrage calculations may be contracted with an outside source to provide the necessary technical assistance to comply with this regulation. Investable funds subject to the 1986 Tax Reform Act will be kept segregated from other funds and records will be kept in a fashion to facilitate the calculations. The City's investment position relative to the new arbitrage restrictions is to continue pursuing the maximum yield on applicable investments while ensuring the safety of capital and liquidity. It is the City's position to continue maximization of yield and to rebate excess earnings, if necessary. XVIII FINANCIAL ADVISORY COMMISSION - CITY OF LA QUINTA The Financial Advisory Commission (FAC) is composed of seven members from the public that are appointed by the City Council. Background information will be requested and potential candidates must agree to a background check and verification. On an annual basis, in conjunction with the Political Reform Act disclosure statutes, or at any time if a change in circumstances warrants, each commissioner will provide the City Council with a disclosure statement which identifies any matters that have a bearing on the appropriateness of that member's service on the FAC All commissioners shall report annually every June to the City Clerk on Form 700, Statement of Economic Interests, any activities, interests, or relationships that may be, or have the appearance of, a conflict of interest. The FAC must meet at least quarterly to: Review at least annually the City's Investment Policy and recommend appropriate changes; Review at least quarterly the treasury report and note compliance with the Investment Policy as well as adequacy of cash and investments for anticipated obligations; Receive and consider other reports provided by the City Treasurer; Meet with the independent auditor after completion of the annual audit of the City's financial statements,and receive and consider the auditor's comments on auditing procedures, internal controls andfindings for cash and investment activities; and Review at least annually the revenue derived from the one percent (1%) transactions and use taxinstituted by voters in November 2016 to ensure these funds are used to provide services, programs,and capital projects in the city of LaQuinta Serve as a resource for the City Treasurer on matters such as proposed investments, internal controls, use of or change of financial institutions, custodians, brokers and dealers. The FAC will report to the City Council after each meeting either in person or through correspondence at a regular City Council meeting. See Appendix B: "Financial Advisory Commission Provisions." 165 19 XIX INVESTMENT POLICY ADOPTION The City's Investment Policy will be reviewed annually by the City's Financial Advisory Commission and the City Treasurer. The Financial Advisory Commission will forward the Investment Policy with any revisions to the City Manager and City Attorney for their review and comment. A joint meeting will be held with the Financial Advisory Commission, City Manager, City Attorney, and City Treasurer to review the Investment Policy and any comments prior to submission to the City Council for their consideration. The Investment Policy shall be adopted by resolution of the City Council annually before the end of June of each year. 166 CITY OF LA QUINTA SUMMARY OF PERMISSIBLE DEPOSITS AND INVESTMENTS Appendix A The City Treasurer will be permitted to invest in the following types of investments subject to the maximum percentage allocation limits and bid process requirements. All maturities must be less than or equal to the maximum maturity allowed. Bid Proces s Permissible Deposits and Investments City Maximum Allocatio n (Footnote 1) State Maximum Allocation City Restrictions City Maximum Maturity Credit Quality Surplus Funds 1 Checking & Savings Accounts (FDIC Insured) & Sweep Accounts 85% Portfolio 100% Portfolio Sweep Account: U.S. Treasuries and/or GSE's Current/On Demand FDIC Insured 2 Interest bearing active bank deposits - non FDIC insured collateralized by 110% of eligible securities 60% Portfolio 100% Portfolio $40,000,000 per bank Current /on Demand Non-FDIC Insured 2 Certificate of Deposit (Negotiable and Non- Negotiable) 30% Portfolio 60 % Portfolio <= $250,000 including interest per institution 5 years FDIC Insured 3 U.S. Treasury Bills, Notes and Bonds, and Government National Mortgage Association (GNMA) securities 100% Portfolio 100% Portfolio <=$30,0000,000 maturing 3-5 Yrs. 3 years 3 U.S. Government Agency Securities and Federal Government Securities (except collateralized mortgage obligations (CMO's) or structured notes which contain embedded rate options): -Federal National Mortgage Association (FNMA) -Federal Home Loan Bank Notes & Bonds (FHLB) -Federal Farm Credit Bank (FFCB) -Federal Home Loan Mortgage Corporation (FHLMC) Per issuer: $20,000,0 00 $25,000,0 00 $30,000,0 00 $20,000,0 00 30% Portfolio $10,000,000 per purchase 5 years 5 years 5 years 5 years 167 3 Prime Commercial Paper including Temporary Liquidity Guarantee Program (TLGP) 15% Portfolio 25% Portfolio 270 Days $5,000,000 per issuer maximum 90 days S&P (A-1) Moody's (P- 1) 4 Local Agency Investment Fund (LAIF) $50,000,0 00 $50,000,000 per account Current/On Demand 5 Money market mutual funds regulated by the SEC that consist only of US Treasury Securities or GSE's and maintain a par value of $1 per share 20% Portfolio 20% Portfolio Mutual fund must have in excess of $500 million in assets under management 90 Days Rated AAA by 2 of 3 agencies; assets>=$50 0 million; SEC reg'd >5 Yrs. 6 Corporate Notes 10% Portfolio 30% Portfolio $5,000,000 max per issuer 3 years S & Prated AA or better 6 Corporate Notes - Temporary Liquidity Guarantee Program (TLGP) 20% Portfolio 30% Portfolio $10,000,000 max per issuer 3 years S&P rated AA or better. 7 Professionally Managed Account 10% Portfolio 100% Portfolio Requires Approved RFP 3 years SEC Reg'd; E&O, Fidelity Insured 8 Local Agency Bonds/California Agency Obligations 30% 30% <=$30,000,0000 10 years At least long term "A, A2, A" rating Comment [RM14]: See previous notes; discuss 168 Bid Process Unauthorized Investments Appendix A (continued) Periodically conduct a bid process for banking and/or custodian services. Since banking services and custodian services are so closely related it isanticipated that the bid process would include the scope of both services. 1 The financial institutions can be either state or federally chartered and must be insured by the Federal Deposit Insurance Corporation (FDIC). At least two bids from broker/dealers that qualify under Securities and 2 Exchange Commission Rule 15C3-1 listed on the "Listing of Approved Financial Institutions" in the appendices. 3 City Council Approval. The City Treasurer will not be permitted to invest in the following types of investments (see Footnote 2 and "State Code Permitted Deposits And Investments Not Authorized By The City's Investment Policy", below). -Repurchase Agreements -Bankers Acceptances -Mutual Funds other than money market mutual funds -Preferred and Common Stock -State Indebtedness -Asset Backed Securities -Reverse Repurchase Agreements -Derivatives The above list of unauthorized deposits and investments is not meant to be all-inclusive. Only those deposits and investments listed in the "Permissible Deposits and Investments" section of the Policy are permissible. Money Market mutual funds must comply with Government Code Section 4 53601(k). The fund must be registered by the SEC and must include marking the portfolio to market daily. At least two bids from broker/dealers that qualify under Securities and 5 Exchange Commission Rule 15C3-1 listed on the "Listing of Approved Financial Institutions" in the appendices. The professional portfolio management firm (PPMF) will be approved by 6 the City Council based upon the City Treasurer's recommendation pursuant to completion of a request for proposal (RFP) as outlined in the appendices. See also Footnote 2. 7 Initial offerings the Treasurer may purchase directly from Bond Underwriter, secondary issues follow bid process 3. 169 21 Appendix B Chapter 2.70 FINANCIAL ADVISORY COMMISSION Sections: 2.70.010 2.70.020 2.70.030 2.70.040 General rules regarding the financial advisory commission. Number of members. Qualifications of members. Powers and duties. 2.70.010 General rules regarding the financial advisory commission. Except as set out below, see Chapter 2.06 for general provisions. 2.70.020 Number of members. The financial advisory commission ("FAC") shall initially consist of seven members appointed by, and serving at the will of the city council. The city council may increase or decrease the number of members from time to time but in no event shall the membership exceed nine members or be less than five members. 2.70.030 Qualifications of members. A.In addition to the qualification requirements set forth in Section 2.06.040 of this code, a minimum of three of the members shall be finance professionals and shall have a verifiable background in finance and/or securities, preferably with knowledge and/or experience in markets, financial controls and accounting for securities. B.For those applying for the professional position, background information will be requested and potential candidates must agree to a background check and verification by the city manager or designee. 2.70.040 Powers and duties. A.The principal functions of the FAC are: 1.Review at least annually the city's investment policy and recommend appropriate changes; 2.Review at least quarterly the treasury report and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; 3.Receive and consider other reports provided by the city treasurer; 4.Meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; 5.Review at least annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the city of La Quinta. 6.Serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of or change of financial institutions, custodians, brokers and dealers. B.The FAC will report to the city council after each meeting either in person or through correspondence at a regular city council meeting. 2.70.050 References to the Investment Advisory Board. If any other chapter(s) or section(s) in this code refers to the Investment Advisory Board, that chapter(s) or section(s) shall be deemed to refer to the Financial Advisory Commission established by the ordinance amending chapter 2.70 of this code. 170 22 Appendix C City of La Quinta Municipal Code Chapter 3.08 INVESTMENT OF MONEYS AND FUNDS Sections: 3.08.010 Investment of city moneys and deposit of securities. 3.08.020 Authorized investments. 3.08.030 Sales of securities. 3.08.040 City bonds. 3.08.050 Reports. 3.08.060 Deposits of securities. 3.08.070 Trust fund administration. 3.08.010 Investment of city moneys and deposit of securities. Pursuant to, and in accordance with, and to the extent allowed by Sections 53607 and 53608 of the California Government Code, the authority to invest and reinvest moneys of the city, to sell or exchange securities, and to deposit them and provide for their safekeeping, is delegated to the city treasurer, which, for purposes of this chapter, is defined in Section 2.12.010 of this code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.020 Authorized investments. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to purchase, at their original sale or after they have been issued, securities which are permissible investments under the city council adopted city investment policy and any provision of state law relating to the investing of general city funds, including, but not limited to, Sections 53601 and 53635 of the California Government Code, as said sections now read or may hereafter be amended, from moneys in the city treasurer's custody which are not required for the immediate necessities of the city and as he or she may deem wise and expedient, and to sell or exchange for other eligible securities and reinvest the proceeds of the securities so purchased. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.030 Sales of Securities. From time to time the city treasurer shall sell the securities in which city moneys have been invested pursuant to this chapter, so that the proceeds may, as appropriate, be applied to the purchase for which the original purchase money may have been designated or placed in the city treasury. (Ord.2 § 1 (part), 3.08.040 City bonds. Bonds issued by the city and purchased pursuant to this chapter may be cancelled either in satisfaction of sinking fund obligations or otherwise if proper and appropriate; provided, however, that the bonds may be held uncancelled and while so held may be resold. (Ord. 2 § 1 (part), 1982) 3.08.050 Reports. The city treasurer shall make a quarterly report to the city council of all investments made pursuant to the authority delegated in this chapter and as permitted by Section 53646(b)(1) of 171 23 the Government Code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.060 Deposits of securities. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to deposit for safekeeping, the securities in which city moneys have been invested pursuant to this chapter, in any institution or depository authorized by the city council adopted investment policy and terms of any state law, including, but not limited to, Section 53608 of the Government Code, as it now reads or may hereafter be amended. In accordance with said section, the city treasurer shall take from the institution or depository a receipt for the securities so deposited and shall not be responsible for the securities delivered to and receipted for by the institution or depository until they are withdrawn therefrom by the city treasurer. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.070 Trust fund administration. Any departmental trust fund established by the city council pursuant to Section 36523 of the Government Code shall be administered by the city treasurer in accordance with Section 36523 and 36524 of the Government code and any other applicable provisions of law. (Ord. 2 § 1 (, 1982) 172 24 Appendix D SEGREGATION OF MAJOR INVESTMENT RESPONSIBILITIES Function Develop and Recommend Modifications to City's Formal Investment Policy Review City's Investment Policy and Recommend City Council Action Adopt Formal Investment Policy Implement Formal Investment Policy Review Financial Institutions & Select Investments Acknowledge Investment Selections Execute Investment Transactions Confirm Wires (if applicable) Responsible Parties Financial Advisory Commission and City Treasurer City Manager and City Attorney City Council City Treasurer City Treasurer or Financial Services Analyst City Manager or his/her designee City Treasurer or City Manager Senior Accountant or Financial Services Analyst Record Investment Transactions in City's Senior Accountant or Accounting Records Investment Verification (match broker confirmation to City investment records) Reconcile Investment Records to Accounting Records and Bank Statements Reconcile Investment Records to Treasurers Report of Investments Security of Investments at City Security of Investments outside City Review Internal Control Procedures Accountant City Treasurer and Financial Services Analyst Financial Services Analyst Senior Accountant or Financial Services Analyst Senior Accountant or Management Assistant Third Party Custodian External Auditor 173 25 Appendix E LISTING OF APPROVED FINANCIAL INSTITUTIONS 1.Banking Services 2.Custodian Services 3.Deferred Compensation 4.Broker/Dealer Services 5.Government Pool Wells Fargo Bank, Government Services, Los Angeles, CA (Banking Services) Rabobank N.A., Government Banking Group, Roseville, CA (Collateralized Bank Deposits) Bank of New York/Mellon/Pershing International City/County Management Association Retirement Corporation Bank of America Securities/Merrill Lynch Morgan Stanley CitiGroup First Empire Securities State of California Local Agency Investment Fund 6.Bond Trustees 1996 Lease Revenue Bonds - US Bank 1998 RDA Project Area 1&2 - US Bank 2001 RDA Project Area 1 - US Bank 2002 RDA Project Area 1 - US Bank 2003 RDA Project Area 1 - US Bank 2004 Local Agency Rev - US Bank 2013 Successor Agency- US Bank 2016 Successor Agency to the LQ RDA Assessment Districts - US Bank No Changes to this listing may be made without City Council approval 174 26 Appendix E Listing of Approved Financial Institutions Banking Services Wells Fargo Bank, Government Services, Los Angeles, CA (Banking Services) Rabobank N.A., Government Banking Group, Roseville, CA (Collateralized Bank Deposits) Custodian Services The Bank of New York Mellon/Pershing LLC Deferred Compensation International City/County Management Association (ICCMA) Retirement Corporation Broker/Dealer Services Bank of America Securities/Merrill Lynch Morgan Stanley CitiGroup First Empire Securities Government Pool State of California Local Agency Investment Fund (LAIF) Bond Trustee US Bank (1) Other Post Employment Benefits (OPEB) Trust California Employers' Retirement Benefits Trust (CERBT)/CalPERS (1) US Bank is the fiscal agent for all of the following bonds: 1996 Lease Revenue Bonds; 1998 RDA Project Area 1&2; 2001 RDA Project Area 1; 2002 RDA Project Area 1; 2003 RDA Project Area 1; 2004 Local Agency Revenue; 2013 Successor Agency; and 2016 Successor Agency to the La Quinta RDA Assessment Districts. 175 Appendix F BROKER/DEALER QUESTIONNAIRE AND CERTIFICATION 1.Name affirm:--------------------------- 2.Address:----------------------------- 3.Telephone:(_)( _ 4.Broker's Representative to the City (attach resume):Name:------------------------------ Title:------------------------------ 5.Manager/Partner-in-charge (attach resume):Name:------------------------------ Title:------------------------------ 6.List all personnel who will be trading with or quoting securities to City employees (attach resume) Name:------------------------------ Title:------------------------------ 7.Which of the above personnel have read the City's Investment Policy? 8.Which instruments are offered regularly by your local office? (Must equal 100%) % U.S. Treasuries % Repos % BA's % Commercial Paper %CD's % Mutual Funds % Reverse Repos % CMO's % Derivatives % Stocks/Equities % Agencies (specify): % Other (specify): 9.References -- Please identify your most directly comparable public sector clients in our geographical area. Entity Contact -------- Entity Contact -------- Telephone ( ) _ Telephone (_) _ Comment [RH15]: Propose eliminating- this is an internal document Formatted: Font: 11 pt Formatted: Font: 11 pt 176 Client Since------- Client Since Formatted: Font: 11 pt 177 10.Have any of your clients ever sustained a loss on a securities transaction arising from a misunderstanding or misrepresentation of the risk characteristics of the instrument? If so, explain. 11.Has your firm or your local office ever been subject to a regulatory or state/ federal agency investigation for alleged improper, fraudulent, disreputable or unfair activities related to the sale of securities? Have any of your employees been so investigated? If so, explain. 12.Has a client ever claimed in writing that you were responsible for an investment loss? Yes No Ifyes, please provide action taken _ Has a client ever claimed in writing that your firm was responsible for an investment loss? Yes No Ifyes, please provide action taken _ Do you have any current or pending complaints that are unreported to FINRA? Yes No Ifyes, please provide action taken _ Does your firm have any current, or pending complaints that are unreported to FINRA? Yes No Ifyes, please provide action taken _ 13.Explain your clearing and safekeeping procedures, custody and delivery process. Who audits these fiduciary responsibilities? Latest Audit Report Date _ 14.How many and what percentage of your transactions failed? Last month? % $ _ 178 Last year? --- % $----- 15.Describe the method your firm would use to establish capital trading limits for the City of La Quinta.------------------------------ 16.Isyour firm a member in the S.I.P.C. insurance program? Yes No _ If yes, explain primary and excess coverage and carriers. _ 17.What portfolio information, if any, do you require from your clients?_ 18.What reports and transaction confirmations or any other research publications will the City receive?------------------------------ 19.Does your firm offer investment training to your clients? Yes No _ 20.Does your firm have professional liability insurance?Yes No _ If yes, please provide the insurance carrier, limits and expiration date. _ 21.Please list your FINRA/NASD Registration Number _ 22.Do you have any relatives who work at the City of La Quinta? Yes No If yes, Name and Department _ 23. 24. Do you maintain an office in California? Do you maintain an office in La Quinta or Riverside County? Yes--- Yes--- No---- No---- 25.Please enclose the following:►Latest audited financial statements;►Samples of reports, transaction confirmations and any other research/publications theCity will receive; ►Samples of research reports and/or publications that your firm regularly provides toclients; and ►Complete schedule of fees and charges for various transactions. Formatted: Font: 11 pt Formatted: Font: 11 pt 179 ***CERTIFICATION*** I hereby certify that I have personally read the Statement of Investment Policy of the City of La Quinta, and have implemented reasonable procedures and a system of controls designed to preclude imprudent investment activities arising out of transactions conducted between our firm and the City of La Quinta. All sales personnel will be routinely informed of the City's investment objectives, horizons, outlooks, strategies and risk constraints whenever we are so advised by the City. We pledge to exercise due diligence in informing the City of La Quinta of all foreseeable risks associated with financial transactions conducted with our firm. By signing this document the City of La Quinta is authorized to conduct any and all background checks. Under penalties of perjury, the responses to this questionnaire are true and accurate to the best of my knowledge. Broker Representative _ Date------------Title-------------------- Sales Manager and/or Managing Partner Date------------- Title-------------------- 180 AppendixG Request for Proposals Professional Portfolio Management Firm City of La Quinta, CA The City of La Quinta, CA is soliciting Requests for Proposals (RFP) from interested firms for the provision of a discretionary investment management services for City of La Quinta, CA. The portfolio to be managed of the invested assets is will be approximately 10% of the City's investment portfolio and will be invested between O - 3 years. The investment of City of La Quinta, CA's funds is guided by the applicable State statutes and the City of La Quinta, CA's investment policy. A copy of the investment policy is attached for your information. Questions regarding this RFP should be directed to: City of: Title: Address: City, State, Zip Code: Phone Number: La Quinta, CA Finance Director/Treasurer 78-495 Calle Tampico La Quinta, CA 92253 (760)777-7000 I.CRITERIA FOR EVALUATION AND SELECTION ■Experience of the firm in providing services to public sector entities of similar size and with similar investment objectives; ■Professional experience and qualifications of the individuals assigned to the account; ■Portfolio management resources, investment philosophy and approach; ■Responsiveness to the RFP, communicating an understanding of the overall program and services required; ■Reporting capabilities; ■Fees. II.SELECTION TIMETABLE A.[Month, Day and Year] B.[Month, Day and Year] C.[Month, Day and Year] Proposals due by [Time] PST. Proposals evaluated: to be determined [City of La Quinta, CA] [Board/Council] approves selection and awards contract. III.FORMAT FOR PROPOSALS Please format your response to this RFP in the following manner: A.Organization 1.Describe your organization, date founded, ownership and other business affiliations. Provide number and location of affiliated offices. Specify the number of years your organization has provided investment management service. Comment [RH16]: Propose eliminating- this is an internal document, and subject to revision if/when and RFP is actually issued 181 2.Describe your firm's revenue sources (e.g., investment management, institutional research, etc.) and comment on your firm's financial condition. 3.Within the past three years, have there been any significant developments in your organization (e.g., changes in ownership, new business ventures)? Do you expect any changes in the near future? 4.Describe any U.S. Securities and Exchange Commission (SEC) censures or litigation involving your organization, any officer, or employee at any time in the last ten years. 5.Describe the firm's fiduciary liability and/or errors and omissions insurance coverage. Include dollar amount of coverage. B.Personnel 1.Identify the number of professionals employed by your firm by classification. 2.Provide an organization chart showing function, positions, and titles of all the professionals in your organization. 3.Provide biographical information on investment professionals that will be involved in the decision-making process for our portfolio, including number of years at your firm. Identify the person who will be the primary portfolio manager assigned to the account. 4.Describe your firm's compensation policies for investment professionals and address any incentive compensation programs. C.Assets Under Management 1.Summarize your institutional investment management asset totals by category for your latest reporting period in the following table: Number of Clients Operating Funds Number of Clients Other Restrictive Funds Governmental $ _ $ _ Governmental Pension $ _ N/A N/A Non Governmental Pension Corporate High Net Worth Client $ _ $ _ $ _ N/A N/A N/A N/A N/A N/A 182 Endowmental/Foun- dation _ N/A N/A 2.Provide the number of separate accounts whose portfolios consist of operating funds. 3.List in the following table the percentage by market value of aggregate assets under all governmental accounts under management for your latest reporting period: Type of Asset U.S. Treasury securities Federal Agency obligations Corporate securities rated AAA-AA Corporate securities rated A Corporate securities rated BBB or lower Other (specify ) Percent by Market Value 4.Describe the procedures that your firm has in place to address the potential or actual credit downgrade of an issuer and to disclose and advise a client of the situation. 5.Provide data on account/asset growth over the past five years. Indicate the number of government accounts gained and the number of government accounts lost. 6.List your five governmental largest clients. Identify those that are exclusively operating fund relationships and/or those that are other relationships (e.g., bond fund, retirement fund). 7.Provide a copy of the firm's Form ADV, Parts I and II (including all schedules). 8.Provide proof of State of California Registration, if your firm is not eligible for SEC registration. 9.Provide a sample contract for services. D.Philosophy/ Approach 1.Describe your firm's investment philosophy for public clients, including your firm's philosophy regarding average duration, maturity, investment types, credit quality, and yield. 2.Describe in detail your investment process, as you would apply it to City of La Quinta, CA's portfolio. 3.What are the primary strategies for adding value to portfolios? 4.Describe the process you would recommend for establishing the investment objectives and constraints for this account. 183 5.Describe in detail your process of credit risk management, including how you analyze credit quality, monitor credits on an ongoing basis, and report credit to governmental accounts. 6.Describe your firm's trading methodology. 7.Describe your firm's decision-making process in terms of structure, committees, membership, meeting frequency, responsibilities, integration of research ideas, and portfolio management. 8.Describe your research capabilities as they would pertain to governmental accounts. What types of analysis do you use? 9.Describe the firm's approach to managing relationships with the broker-dealer community. E.Portfolio Management 1.Are portfolios managed by teams or by one individual? 2.What is the average number of accounts handled per manager? 3.Which professional staff member will be the primary client contact for City of La Quinta, CA? 4.How frequently are you willing to meet with us? 5.Describe procedures used to ensure that portfolios comply with client investment objectives, policies, and bond resolutions. F.Fees Charged 1.Please include a copy of your firm's fee schedule applicable to this RFP. 2.Identify any expenses that would not be covered through this fee structure and would be required in order to implement the firm's program. 3.Is there a minimum annual fee? G.Performance Reporting 1.Please report on all accounts under $100 million. 2.Please provide performance history for governmental accounts for the last five years. 3.Please provide risk measurements for governmental accounts for the last five years. 4.Indicate whether your returns are calculated and compiled in accordance with the Association for Investment Management and Research (AIMR/CFA Institute) 184 standards. 5.Do your reports conform to the State of California reporting standards? Are you willing to customize your reports to meet our specifications? 6.How will you notify us of investment transactions? 7.Are confirmations of investment transactions sent directly by the broker/dealer to the client? 8.Do your reports include rating information on investments which is required by GASB 40? H.References Provide a list of at least five (5) client references in California. References should be public agencies with portfolio size and investment objectives similar to City of La Quinta, CA. Include length of time managing the assets, contact name, and phone number. I.Insurance Requirements Exhibit A defines the insurance requirements that will need to be met prior to the [Board/Council]'s approval of any agreement for services. J.Submittal of proposals 1.Seven (7) copies of the proposal shall be submitted in a sealed envelope bearing the caption RFP for (City of La Quinta, CA) and addressed to: City of La Quinta, CA 78-495 Calle Tampico La Quinta, CA 92253 Attention: Finance Director/Treasurer 2.Proposal must be received no later than [Time] PST on [Month, Day, and Year]. 3.Proposals should be verified before submission. The City of La Quinta, CA shall not be responsible for errors or omissions on the part of the respondent in preparation of a proposal. The City of La Quinta, CA reserves the right to reject any and all proposals, to wave any irregularities, or informalities in the proposals, and to negotiate modifications to any proposal. Enclosures: Investment Policy Treasurers Report 185 Appendix H City of La Quinta Permissible Investment Chart - Professional Portfolio Management Firm (1)(2)(3)(4)(5) (6) (7)(8) California Government Code Section Investment Category Maximum Maturity Authorized Investment Limits (% of Portfolio) Credit Rating Limits Comments Allowed per City Policy Allowed per Professional Portfolio Management Firm 53601(a) Local Agency Bonds 5 Years None None No No 53601(c) State of California Obligations 5 Years None None No No 53601(d) CA Local Agency Obligations 5 Years None Multiple No No 53601(i) Repurchase Agreements 1 Year None None No No 53601(i) Reverse Repurchase Agreements 92 Days 20% of the base value of the portfolio None No No 53601(i) Securities Lending Agreements 92 Days 20% of the base value of the portfolio None No No 53684 County Pooled Investments None None None No No 53632 Interest bearing active deposits None None None Collateralized 110% Yes Yes 53601(f) Bankers Acceptances 180 Days 40% None "AA" or better No Yes 53601(h) Negotiable CD's 5 Years 30% None Yes Yes 53601(k) Mutual Funds None 20% Multiple No Yes 53601(n) Asset Backed Securities 5 Years 20% AA No Yes Cash and Equivalents None None None Yes Yes 16429.1 LAIF None None None Yes No 53601(b) US Treasuries 5 Years None None Yes Yes 53601(e) US Agencies 5 Years None None Yes Yes 53601(g), 53635 Commercial Paper 270 Days 25% of portfolio A-1/P-1/ F-1 Yes Yes 53601(k) Medium Term Notes 5 Years 30% A Yes Yes 186 Money Market Mutual Funds None 20% Multiple Yes Yes 53601(m) Time Deposits 5 Years None None Yes Yes Collateralized Bank Deposits (including non- negotiable CD's) 5 Years None None Yes Yes Source of Columns (1) through (5) - Investment: Investment Portfolio Reporting Practices CA Debt and Investment Advisory Commission. Note: The Professional Portfolio management Firm (PPMF) is not required to adhere to the City's buy and hold policy and does not need City Manager or City Treasurer approval to make permissible deposits and investments as detailed in column (8). 187 Appendix I Investment Management Process and Risk Except as provided for in Section 27000.3, Government Code Section 53600.3 declares as a trustee each person, treasurer, or governing body authorized to make investment decisions on behalf of local agencies. Trustees are subject to the prudent investor standard. These persons shall act with care, skill, prudence, and diligence under the circumstances then prevailing when investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing funds. Section 53600.5 further stipulates that the primary objective of any person investing public funds is to safeguard principal; secondly, to meet liquidity needs of the depositor; and lastly, to achieve a return or yield on invested funds (Government Code Section 27000.5 specifies the same objectives for county treasurers and board of supervisors). Risk is inherent throughout the investment process. There is investment risk associated with any investment activity and opportunity risk related to inactivity. Market risk is derived from exposure to overall changes in the general level of interest rates while credit risk is the risk of loss due to the failure of the insurer of a security. The market value of a security varies inversely with the level of interest rates. If an investor is required to sell an investment with a five percent yield in a comparable seven percent rate environment, that security will be sold at a loss. The magnitude of that loss will depend on the amount of time until maturity. Purchasing certain allowable securities with a maturity of greater than five years requires approval of the governing board (see Government Code Section 53601). Part of that approval process involves assessing and disclosing the risk and possible volatility of longer-term investments Another element of market risk is liquidity risk. Instruments with unique call features or special structures, or those issued by little known companies, are examples of "story bonds" and are often thinly traded. Their uniqueness often makes finding prospective buyers in a secondary market more difficult and, consequently, the securities' marketability and price are discounted. However, under certain market conditions, gains are also possible with these types of securities. Default risk represents the possibility that the borrower may be unable to repay the obligation as scheduled. Generally, securities issued by the federal government and its agencies are considered the most secure, while securities issued by private corporations or negotiable certificates of deposit issued by commercial banks have a greater degree of risk. Securities with additional credit enhancements, such as bankers acceptances, collateralized repurchase agreements and collateralized bank deposits are somewhere between the two on the risk spectrum. The vast majority of portfolios are managed within a buy and hold policy. Investments are purchased with the intent and capacity to hold that security until maturity. At times, market forces or operations may dictate swapping one security for another or selling a security before maturity. Continuous analysis and fine tuning of the investment portfolio are considered prudent investment management. The Government Code contains specific provisions regarding the types of investments and practices permitted after considering the broad requirement of preserving principal and maintaining liquidity before seeking yield. These provisions are intended to promote the use of reliable, diverse, and safe investment instruments to better ensure a prudently managed portfolio worthy of public trust. Chapter II. Fund Management Local Agency Investment Guidelines 2010 Investment Advisory Commission Issued by California Debt and 188 Appendix J GLOSSARY (Adopted from the Municipal Treasurers Association) The purpose of this glossary is to provide the reader of the City of La Quinta investment policies with a better understanding of financial terms used in municipal investing. AGENCIES: Federal agency securities and/or Government-sponsored enterprises. ASKED: The price at which securities are offered. BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer. BROKER: A broker brings buyers and sellers together for a commission. CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large-denomination CD's are typically negotiable. COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. COMMERCIAL PAPER: Short-term unsecured promissory notes issued by a corporation to raise working capital. These negotiable instruments are purchased at a discount to par value or at par value with interest bearing. Commercial paper is issued by corporations such as General Motors Acceptance Corporation, IBM, Bank America, etc. COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual report for the City of La Quinta. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. CONDUIT FINANCING: A form of Financing in which a government or a government agency lends its name to a bond issue, although it is acting only as a conduit between a specific project and bond holders. The bond holders can look only to the revenues from the project being financed for repayment and not to the government or agency whose name appears on the bond. COUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a payment date. DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. DEBENTURE: A bond secured only by the general credit of the issuer. DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities). DISCOUNT: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount. DISCOUNT SECURITIES: Non-interest bearing money market instruments that are issued a discount and redeemed at maturity for full face 189 value, e.g., U.S. Treasury Bills. DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns. FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L's, small business firms, students, farmers, farm cooperatives, and exporters. 1.FNMAs (Federal National Mortgage Association) -Like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder- owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest. 2.FHLBs (Federal Home Loan Bank Notes and Bonds) - Issued by the Federal Home Loan Bank System to help finance the housing industry. The notes and bonds provide liquidity and home mortgage credit to savings and loan associations, mutual savings banks, cooperative banks, insurance companies, and mortgage-lending institutions. They are issued irregularly for various maturities. The minimum denomination is $5,000. The notes are issued with maturities of less than one year and interest is paid at maturity. 3.FLBs (Federal Land Bank Bonds) - Long-term mortgage credit provided to farmers by Federal Land Banks. These bonds are issued at irregular times for various maturities ranging from a few months to ten years. The minimum denomination is $1,000. They carry semi- annual coupons. Interest is calculated on a 360-day, 30 day month basis. 4.FFCBs (Federal Farm Credit Bank) - Debt instruments used to finance the short and intermediate term needs of farmers and the national agricultural industry. They are issued monthly with three- and six-month maturities. The FFCB issues larger issues (one to ten year) on a periodic basis. These issues are highly liquid. 5.FICBs (Federal Intermediate Credit Bank Debentures) - Loans to lending institutions used to finance the short-term and intermediate needs of farmers, such as seasonal production. They are usually issued monthly in minimum denominations of $3,000 with a nine-month maturity. Interest is payable at maturity and is calculated on a 360-day, 30-day month basis. 6.FHLMCs (Federal Home Loan Mortgage Corporation) - a government sponsored entity established in 1970 to provide a secondary market for conventional home mortgages. Mortgages are purchased solely from the Federal Home Loan Bank System member lending institutions whose deposits are insured by agencies of the United States Government. They are issued for various maturities and in minimum denominations of $10,000. Principal and interest is paid monthly. Other federal agency issues are Small Business Administration notes (SBA's), Government National Mortgage Association notes (GNMA's), Tennessee Valley Authority notes (TVA's), and Student Loan Association notes (SALLIE-MAE's). FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit through December 31, 2013. FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open- market operations. FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks) which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must 190 purchase stock in their district Bank. FEDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money. FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHM mortgages. The term "pass-throughs" is often used to describe Ginnie Maes. LAIF (Local Agency Investment Fund) - A special fund in the State Treasury which local agencies may use to deposit funds for investment. There is no minimum investment period and the minimum transaction is $5,000, in multiples of $1,000 above that, with a maximum balance of $50,000,000 for any agency. The City is restricted to a maximum of ten transactions per month. It offers high liquidity because deposits can be converted to cash in 24 hours and no interest is lost. All interest is distributed to those agencies participating on a proportionate share basis determined by the amounts deposited and the length of time they are deposited. Interest is paid quarterly. The State retains an amount for reasonable costs of making the investments, not to exceed one-half of one percent of the earnings. LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. LOCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold. MASTER REPURCHASE AGREEMENT: A written contract covering all future transactions between the parties to repurchase--reverse repurchase agreements that establishes each party's rights in the transactions. A master agreement will often specify, among other things, the right of the buyer- lender to liquidate the underlying securities in the event of default by the seller-borrower. MATURITY: The date upon which the principal or stated value of an investment becomes due and payable MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers' acceptances, etc.) are issued and traded. OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid. OPEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve's most important and most flexible monetary policy tool. PORTFOLIO: Collection of all cash and securities under the direction of the City Treasurer, including Bond Proceeds. PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers 191 include Securities and Exchange Commission (SEC)- registered securities broker-dealers, banks and a few unregulated firms. QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value ofnot less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return. REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in effect lends the "seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money that is increasing bank reserves. REVERSE REPURCHASE AGREEMENTS (RRP or RevRepo) - A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security"buyer" in effect lends the"seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RRP extensively to finance their positions. Exception: When the Fed is said to be doing RRP, it is lending money that is increasing bank reserves. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection. SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution. SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation. SEC RULE 15C3-1: See Uniform Net Capital Rule. STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, SLMA, etc.) and Corporations which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, and derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve. SURPLUS FUNDS: Section 53601 of the California Government Code defines surplus funds as any money not required for immediate necessities of the local agency. The City has defined immediate necessities to be payment due within one week. TREASURY BILLS: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months or one year. TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years. TREASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years. UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. UNIFORM PRUDENT INVESTOR ACT: The State of California has adopted this Act. The Act contains the following sections: duty of care, diversification, review of assets, costs, compliance determinations, 192 delegation of investments, terms of prudent investor rule, and application. YIELD: The rate of annual income return on an investment, expressed as a percentage. (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond. 193 194 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ADOPT A RESOLUTION TO APPROVE THE CITY’S GENERAL FUND BALANCE AND RESERVES POLICY RECOMMENDATION Adopt a resolution to approve the City’s General Fund Balance and Reserves Policy. EXECUTIVE SUMMARY  Council requested an analysis of the City’s reserves by the Financial Advisory Commission (FAC).  A subcommittee of the FAC and staff prepared a Reserve Policy Analysis Report (Report).  The Report was presented during two Council meeting study sessions on February 6 and April 3, 2018. The resulting General Fund Balance and Reserves Policy (Policy) incorporates the recommendations and directives of the FAC and City Council. FISCAL IMPACT – None. BACKGROUND During the 2017/18 budget process Council requested an analysis of the City’s reserves. Three members of the FAC joined the Finance staff to conduct an in-depth analysis with additional hours of independent research. The scope of the analysis included review of:  current reserve policy and funding;  reserve categories;  Coachella Valley wide comparison of reserves and funding;  best practices recommended by accounting standards boards;  City demographics, revenues, expenditure volatility, other funds dependency on the General Fund, growth projections, and unfunded capital projects;  risk mitigation - including a review of insurance policies; and  City infrastructure and vulnerability to extreme events. As a result of multiple meetings, the final Reserve Analysis Report and the Policy have been written. Following the guidance of the FAC and Council, the Policy establishes the reserve categories and the target funding. BUSINESS SESSION ITEM NO. 2 195 Upon adoption of the Policy, the reserve categories and initial funding will be established. Staff is providing the initial funding scenario for consideration: The reallocation of funds will be incorporated into the 2018/19 budget. ALTERNATIVES Council may approve as presented, incorporate changes, or request further review. Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director Attachments: 1. Reserve Policy Analysis Report Category Current Funding Targets Initial Funding Percent of Target Funded Emergency Reserve Natural Disaster 16,534,000 10,000,000 7,400,000 74.00% Emergency Reserve Economic 11,000,000 8,140,000 74.00% Cash Flow 4,134,000 5,000,000 5,000,000 100.00% Capital Replacement 10,000,000 5,000,000 50.00% Pension Trust 10,000,000 2,000,000 20.00% Total Reserves 20,668,000 46,000,000 27,540,000 59.87% Unassigned Fund Balance 14,865,926 8,000,000 7,993,926 99.92% Land Acquisition Account 2,000,000 2,000,000 196 1 197 198 EXHIBIT A 1 199 EXHIBIT A 2 200 EXHIBIT A 3 201 EXHIBIT A 4 202 City of La Quinta Reserve Policy Analysis Report Financial Advisory Commission Reserve Policy Subcommittee May 2018 Attachment 1 203 This Page Intentionally Left Blank 204 TOC-i Table of Contents Contents Executive Summary ....................................................................................................................................... 1 1.0 Background .............................................................................................................................................. 3 1.0 Financial Advisory Commission & Reserve Analysis Subcommittee ...................... 3 1.1 Reserve Policy Subcommittee ............................................................................................... 3 2.0 Reserve Policy ....................................................................................................................................... 3 2.1 Background .................................................................................................................................... 3 2.2 Current Reserve Policy................................................................................................................ 4 2.3 Guiding Principles, City of La Quinta Reserves .................................................................... 5 2.4 Ten-Year Financial Projection .................................................................................................. 6 2.5 Reserves versus Fund Balances ............................................................................................... 7 3.0 General Fund Reserves ........................................................................................................................ 8 3.1 Emergency Reserve ..................................................................................................................... 8 3.1.1 Natural Disaster Component .................................................................................................. 9 3.1.2Economic Disaster Component ................................................................................................ 9 3.2 Cash Flow Reserve ..................................................................................................................... 11 3.3 CIP Sinking Fund Reserve ........................................................................................................ 12 3.4 Unfunded Pension Liability ..................................................................................................... 13 205 1 City of La Quinta Financial Advisory Commission Reserve Policy Sub-Committee Report Executive Summary The City of La Quinta (City) formed the La Quinta Financial Advisory Commission (FAC) in June 2017 to replace the long-standing Investment Advisory Board (IAB). At the regular FAC meeting on August 9, 2017, the FAC appointed Commissioners Dick Mills, Daniel Twohey and Mark Johnson to serve on a sub-committee to analyze and recommend improvements to the City’s Reserve Policy. The Reserve Policy Subcommittee met independently and with City Finance Staff on multiple occasions. The Subcommittee focused on developing a pragmatic methodology to determine the appropriate reserve levels as opposed to utilizing a percentage. This process establishes a rationale and protocol that allows for an annual review of reserves based on actual economic conditions. The interim recommendations were reviewed and approved by the FAC on November 15, 2017. An updated Report was presented to the FAC on April 11, 2018. Additionally, the report was presented at City Council meetings on February 6 and April 3, 2018. Recommendations The following Reserve Policy changes are recommended and summarized in Table 1: 1. Utilize a Ten-Year Projection to evaluate the City’s financial condition and update it annually. 2.Fund Balances and Reserves should be referenced separately in presentations to eliminate confusion and give true picture of Reserves. 3.Emergency Reserve with two components: Natural Disaster and Economic a.Emergency Reserve Natural Disaster Component i.Modify the City Ordinance to simplify access to the Emergency Reserve. ii. Utilize the comprehensive Asset/Risk/Insurance/Government Funding Study (Study), to set this reserve level. 206 2 iii.Establish an Asset Management Program as part of this Study to better track, maintain and replace assets and develop a long-term Capital Improvement Program (CIP). iv.Set at $10 million and fund existing reserves. b.Emergency Reserve Economic Disaster Component-set at $11 million and fund with $1.0 million annually and define use of funds. 4.Cash Flow Reserve. Set at $5 million initially and, reset annually using the formula. 5.Capital Replacement Reserve. Set at $10 million and fund with $1.0 million annually. 6.Pension Trust. Form an irrevocable trust and fund with $1 million annually for 10 years as a General Fund Expense. 7.Current Unassigned Reserves-utilize to fund the recommended Reserve/Trust targets and/or operating expenses at the discretion of the Council. Table 1-Reserve/Trust Recommendations Reserve/Trust Reserve Target Current Funding Over/(Under) Funded Annual Target Emergency Reserve Natural Disaster 10,000,000 16,534,000 6,534,000 1,500,000 Economic Disaster 11,000,000 - (11,000,000) 1,000,000 Total 21,000,000 16,534,000 (4,466,000) 2,500,000 Cash Flow Reserve 5,000,000 4,134,000 (866,000) - Capital Replacement 10,000,000 - (10,000,000) 1,000,000 Total Reserves 36,000,000 20,668,000 (15,332,000) 3,500,000 Pension Trust Fund 10,000,000 - (10,000,000) 1,000,000 Unassigned Reserves - 14,865,926 14,865,926 - Overall Total 46,000,000 35,533,926 (10,466,074) 4,500,000 207 3 1.0 Background 1.0 Financial Advisory Commission & Reserve Analysis Subcommittee The principal functions of the FAC are: (1) review at least annually the City's investment policy and recommend appropriate changes; (2) review monthly treasury reports and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; (3) receive and consider other reports provided by the City Treasurer; (4) meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; (5) review annually the revenue derived from the one percent (1%) transactions and use tax (Measure G) instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the City, and (6) serve as a resource for the City treasurer on matters such as proposed investments, internal controls, use of financial institutions, custodians, brokers and dealers. The current FAC members include; George Batavick (Chairman), Richard (Dick) Mills (Vice-Chairperson), Steven Rosen, Javier Lopez, Sherwyn Turbow, Daniel Twohey and Mark Johnson. 1.1 Reserve Policy Subcommittee At the regular FAC meeting on August 8, 2017, the FAC appointed Dick Mills, Daniel Twohey and Mark Johnson to serve on a sub-committee to analyze and recommend improvements to the City’s Reserve Policy. 2.0 Reserve Policy 2.1 Background Financial Reserves provide the City with financial flexibility and strength to deal with planned and unplanned expenditures. Reserve levels must balance realistic financial need and risk. The Reserve Policy should strive to establish reserve levels that are not over or under-funded, specify the intended use of reserves, and the replenishment of underfunded reserves. 208 4 2.2 Current Reserve Policy The current Reserve Policy includes the following Fund Balance Descriptions: •Non-spendable: not available to fund operating expenditures of the organization because they are in the form of land and receivables. •Restricted: limited to special purpose funds such as Measure A (transportation), Gas Tax Fund (streets) and Quimby Funds (parks). •Committed: cash flow (currently working capital), emergency, and operating carryovers. •Assigned: constrained by the City’s intent to use funds for public safety or capital projects. •Unassigned (Unappropriated): net reserves available after satisfying the other reserve categories. Table 2 depicts the Current General Fund Reserve/Fund Balances Table 2 - General Fund Reserve/Fund Balances Reserve/Fund Balance Amount ($) Non-Spendable Prepaid Costs 10,578 Land Held for Resale 8,320,000 Advances to Other Funds 15,022,660 Due from Other Governments 29,154,040 Total Non-Spendable 52,507,278 Committed Working Capital Reserve (10%)4,134,000 Emergency Reserve (40%) 16,534,000 Post Retirement Health Benefits 1,523,400 Carryovers 120,000 Total Committed 22,311,400 Assigned Public Safety Fire Services 9,371,699 Capital Projects 6,322,570 Total Assigned 15,694,269 Unassigned 14,865,926 TOTAL FUND BALANCE 105,378,873 209 5 Current Reserve Policy includes the following targets: •Working Capital Reserve: 10% of Adopted Operating Budget •Emergency Reserve: 40% of Adopted Operating Budget The General Accounting Standards Board (GASB) is the organization that establishes standards for accounting and financial reporting for state and local governments. GASB provides that it is common practice for governments to put aside resources to be used in a financial emergency or for cash flow purposes. Reserve funds are crucial to the financial viability and stability of a municipality. Deferred maintenance, increased debt, and cash flow problems are common indicators of weak reserve balances. While strong reserve funds: •manage cash flows and volatility in revenue and expenditures •address unexpected economic fluctuations with long-term solutions •provide needed money if a municipality should find itself facing unexpected financial difficulties •reduce the cost of borrowing money. There is no guidance for a “maximum” reserve limit but rather each organization should evaluate reserves depending upon their unique circumstances. There will always be more needs and unanticipated events than there are resources; therefore, governments must balance the need to be fiscally responsible with what are reasonable reserves. The amount of reserves a municipality maintains is determined by the community’s risk tolerance; a low-risk tolerance will result in higher reserves while a high-risk tolerance will result in lower reserves. 2.3 Guiding Principles, City of La Quinta Reserves The City follows the following budgetary and cash management principles: •One-time revenues should not be utilized for on-going expenditures. One- time revenues should be put into reserves or appropriated for one-time expenditures. •Reserves for capital improvements, equipment replacement, and infrastructure should be part of the on-going budget process. Based on depreciation, or other relevant criteria, contributions should be made annually (into a revolving fund) as part of the budget process toward replacement of equipment, buildings, infrastructure, etc. •When authorizing the use of reserves, developing a plan to replenish those reserves should also be considered. 210 6 •The Reserve Policy can be amended by resolution and requires a 4/5th approval of the Council. 2.4 Ten-Year Financial Projection A Ten-Year Financial Projection is essential to aid in determining an appropriate Reserve Policy. The La Quinta Advisory Committee 1 developed this tool to analyze various Revenue and Expenditure Scenarios in FY 2015/16. Updated Ten-Year Financial Projections (Exhibits 1 and 2) are in the Appendix. The Ten-Year Financial Projection is an Excel model that utilizes the FY 2017/18 Budget as the Base Year and applies a specific inflator (growth projection) for most revenue and expenditure line items to each of the remaining ten years. The Model includes the following key features: •14 Revenue line items: All revenue line items have a 1% inflator except for Motor Vehicle In-Lieu, Fire Service Credit, Property Tax, and Transient Occupancy Tax which have a 2% inflator. The largest revenue line items are Property Tax, Sales Tax, and Transient Occupancy Tax (TOT). •13 Expenditure line items: Most expenditure line items have a 2% inflator except for Salaries and Medical Insurance Costs which have a 3% inflator and Police Contract which has an 8% inflator (Exhibit 1) to resemble historical increases or a 10% inflator (Exhibit 2) based on current police contract projections. The Capital Improvements line item is not inflated as these costs represent the annual minimum General Fund contribution for road maintenance to secure Measure A and SB1 Gas Tax Funding (restricted funds for road improvements). The Fire Service Contract is anticipated to increase by 4% annually. •Additional Revenue Sources: These revenues include (1) Measure G Sales Tax and (2) Redevelopment Agency (RDA) payback (ending in FY 2029/30). Please note, any potential TOT tax increase was not used for this analysis. The Model shows that before any Additional Revenue Sources are applied, there is a cumulative Revenues/Expenditure deficit of -$58.8 million at the end of the ten-year period (Exhibit 1) or a deficit of -$88.7 million (Exhibit 2). After the Additional Revenue Sources are applied and $3 million a year for capital improvements are accounted for, there is a cumulative +$24.1 million Revenues/Expenditure surplus (Exhibit 1) or -$5.7 million deficit (Exhibit 2). 1 The La Quinta Advisory Committee Report of January 2016 is a good reference for the City’s financial system. 211 7 The Ten-Year Projection demonstrates the importance of the RDA loan repayment and the impact of Measure G sales tax to the City’s financial future. It also shows that there is about $5 million/year available to fund the Reserve accounts during the next five years (Exhibit 1). However, if annual Police Contract increases escalate to 10% year-over-year, the available funding is reduced to an average of $4 million annually over the next five years (Exhibit 2). In addition to the projected Ten-Year surplus (Exhibit 1), as of June 30, 2017the city had an unassigned fund balance of approximately $16.9 million. These funds are non- restrictive and can be used to fund the recommended Reserve/Trust targets, capital projects, or operating expenses at the discretion of the Council. The Ten-Year Projection provides an easy tool for the City to periodically analyze its financial condition as new information becomes available. One can easily glean the impact on City finances by simply changing an inflator assumption or line item starting balance. It is clear that small changes in some of the inputs can result in significant changes in the financial projections. Recommendation: Utilize a Ten-Year Projection to evaluate the City’s financial condition and evaluate reserve funding options. The Ten-Year Projection should be updated annually. Recommendation: Utilize Current Unassigned Reserves to fund the recommended Reserve/Trust targets and/or operating expenses at the discretion of the Council. 2.5 Reserves versus Fund Balances The financial terminology utilized for the current Reserve Policy can be confusing, but is regulated by GASB Statement No. 54. The terms “reserve” and “fund balance” are used interchangeably and can lead to a misunderstanding of actual financial condition. For example, Table 2 shows a total General Fund Reserve/Fund Balance of $107 million at the end of FY 2016/17. The only line items in Table 2 classified as “reserves” are Emergency Reserve ($16.5 million) and Cash Flow Reserve ($4.1 million) for a total of $20.6 million. Therefore, true “reserves” are much less than the reported $107 million level. Recommendation: To eliminate this confusion, the following classifications are suggested and should be re-categorized to place actual reserves together (at the top) in the Committed Fund Balance category: 212 8 General Fund Balances •Non-Spendable General Fund Committed Reserves2 •Emergency •Cash Flow (replaces Working Capital) •Capital Improvement Program (CIP) Sinking Fund •Carryovers This provides a grouping representation of reserves by re-categorizing the items of which there is no reserve funding potential. Fund balance reporting is governed by GASB. The GASB regulation is intended to provide a uniform method for reporting reserved and unreserved fund balances for all government agencies. Fund balances are reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purpose for which amounts in those funds can be spent. The proposed General Fund Reserve line items are further discussed in Section 3 of this report. 3.0 General Fund Reserves The subcommittee focused on developing a pragmatic methodology to determine the appropriate reserve levels as opposed to utilizing a percentage-based methodology. This process establishes a rationale and protocol that allows for an annual review of reserves based on actual economic conditions. 3.1 Emergency Reserve As defined in the City’s municipal code (§ 2.20.020 A), the terms emergency and disaster mean: “ The actual or threatened existence of conditions of disaster or of extreme peril to the safety of persons and property within this City caused by such conditions as air pollution, fire, flood, storm, epidemic, riot, earthquake or other conditions, including conditions resulting from war or imminent threat of war but other than conditions resulting from a labor controversy, which conditions are or are likely to be beyond the control of the services, regular personnel, equipment and facilities of the City and which may require the combined forces of other political jurisdictions to combat.” Fiscal emergencies can be caused by natural disasters or swings in the economy. 2 Note the Post-Retirement Health Benefits Fund is now an OPEB Trust funded directly from the General Fund Budget. 213 9 Recommendation: One Emergency Reserve with two components---Natural Disaster and Economic. Modify the city ordinance to simplify access to the Emergency Reserve. 3.1.1 Natural Disaster Component The Emergency Reserve-Natural Disaster component will provide funding for floods, earthquakes and other natural disasters. The determination of the level of this reserve component required the following analysis: 1.Capital Asset Inventory & Valuation: What do we have and what is it worth? 2.Capital Asset Risk Assessment: Which assets are more critical in a disaster? 3.Insurance Coverage: How do we evaluate risk versus premium? 4.Government Disaster Funding: How much will Federal, state and/or county government contribute in a disaster? The City conducted a comprehensive Asset/Insurance/Government Funding Study (Study) analyzing these four items. Exhibit 4 summarizes the results from the Study. The City’s insured assets total $366 million. In an emergency, individual assets with insurance coverage do not qualify for federal or state reimbursement. Furthermore, federal reimbursement is limited to 75% and state reimbursement is limited to 18.75% of total expenditures. Based on current insurance coverage the potential city liability could be $19.2 million. Assets that are not covered by insurance or government natural disaster funding are depicted in the column labeled require 100% reserve funding. Non-critical assets require 50% reserve funding for a total recommended reserve of $10 million. Recommendation: Establish an Asset Management Program to expand on the Study to better track, maintain and replace assets and develop long-term Capital Improvement Program (CIP). Recommendation: Fund this reserve initially with the current Emergency Reserve balance. 3.1.2 Economic Disaster Component The Emergency Reserve-Economic Disaster component will provide funding to respond to a downturn in the economy. To establish this reserve level, the City’s financial data was analyzed from 2000 to 2017 as this period included probably the worst economic downturn since the Great Depression. Figure 1, on the following page, (Long-Term Economic History) plots Revenue, Expenditures and Net Income adjusted for inflation during this period. 214 10 The Net Income line is the key data as this gives a good indication of the financial health of the City in any given year. A linear regression line was applied to the Net Income data to establish the normalized level of Net Income for this Seven-Year period. Any Net Income below the Linear Regression curve indicates the need for economic input to recover. During the period from 2008 to 2014, there are two troughs. The period between 2008 and 2011 (economic recession) would require approximately $10 million to recover and the period from 2011 to 2014 (redevelopment dissolution) would require $11 million to recover. This was a very unusual economic period and back-to-back downturns are unlikely in the future. Access to this reserve should be granted for economic stabilization and volatility as a direct result of economic conditions during periods of unanticipated economic downturns or unanticipated spikes in operating costs. Use of emergency reserves due to economic pressures should be limited to maintaining essential day-to-day services, such as public safety or responding to adverse circumstances, while the City formulates a longer-term strategy. Use of the economic disaster reserves should be defined in policy and may include: •Used to balance the budget if revenues are projected to be 10% less than prior year actual revenues •Or if operating expenses are projected to be 10% more than prior year actual expenses. Figure 1-Long-Term Economic History 215 11 Recommendation: Set the Emergency Reserve-Economic Disaster component at $11 million, fund with $1.0 million annually and define the intended use of funds. 3.2 Cash Flow Reserve The Cash Flow Reserve replaces the existing terminology and calculation of Working Capital Reserve (currently based on 10% of the operating budget). This reserve covers the inherent mismatch of revenues versus expenditures due primarily to tax revenue receipts. This reserve also serves as a funding source for capital projects with various state and federal grants, which are typically reimbursement based. Reserves allow for capital projects to incur costs and stay on track with reimbursement, typically within 90-180 days. Figure 2-Cash Flow Imbalance for FY 2016/17 It is recommended that the Cash Flow Reserve be updated annually by calculating the prior fiscal year monthly surplus/(deficit) of revenues versus expenditures; with the largest cumulative deficit becoming the updated Cash Flow Reserve. Figure 2 above shows the monthly cash imbalances whereby revenues are not received uniformly throughout the year, which results in peaks and valleys depending upon large payments that are received throughout the year. For example, large property tax payments are usually received in December and May. Similarly, transient occupancy tax payments increase during months with large festivals and events. The timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserves. For FY 2016/17 this analysis yielded a $4.7 million cash flow imbalance. $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 Revenue Expenditures 216 12 Recommendation: Set Cash Flow Reserve at $5 million initially and fund annually subject to the calculation. 3.3 Capital Replacement Reserve Exhibit 3 (Appendix) is page 47 from the FY 2016/17 Comprehensive Annual Financial Report (CAFR) describing the City’s capital assets. Table 3 below summarizes the Depreciable Assets from this information. Table 3-Depreciable Assets The total Ten-Year Capital Improvement Program (CIP) budget utilized for Exhibits 1 and 2 includes minimum funding to secure Measure A and Gas Tax revenue for road improvements ($1.5 million annually). Capital expenses are typically supplemented with restricted funds such as those for road improvements, Quimby Funds for parks, developer impact fees (DIF), and grant funds. In addition to the General Fund, the City also maintains ten-year revenue and expenditure projections on these additional CIP funding sources. For FY 2017/18 General Fund capital expenses budgeted total $6.53 million or approximately 73% of depreciation (6.53/9.00=73) and are a reasonable barometer for evaluating the proper level of investment in capital assets. Additionally, $2.3 million is budgeted under special funds, for a total CIP budget of $8.83 or 98% of depreciation (8.83/9=98). Special revenue funds are derived from gas tax sales, property tax valuations, and developer impact fees; these revenue projections can vary greatly from year to year. Ideally, it would be desirable to match annual depreciation with capital spending, therefore it is recommended to establish a Capital Replacement Reserve to set aside funds to supplement funding gaps. Recommendation: Set Capital Replacement Reserve at $10 million and fund with $1.0 million annually. 217 13 3.4 Unfunded Pension Liability As of June 30, 2017, the CalPERS Net Pension Liability was $10.8 million (7.65% discount rate). Exhibits 1 and 2 shows the actual CalPERS Unfunded Liability cost of $454,756 in FY 2016/17. However, the CalPERS Net Pension Liability is a moving target and is dependent on the CalPERS discount rate. For example, if the discount rate lowers to 6.65%, the Net Pension Liability increases to $16.5 million. In December 2016, CalPERS lowered the discount rate (rate of return for investments) from 7.5% to 7%, which will increase the CalPERS total unfunded pension liability for all participating agencies, including the city. The City’s annual unfunded pension liability payment will further increase starting in FY 2018/19 continuing through 2021/22. In addition, every four years CalPERS evaluates all pension plans to ensure financial stability. This evaluation has been completed and was presented to the CalPERS Board on November 13-15, 2017. Results from this valuation confirmed lowering the discount rate to 7%. Eliminating or reducing the CalPERS Net Pension Liability is prudent as it will improve the financial condition of the City and send a message that the City is addressing this issue in a fiscally responsible manner. Assuming the CalPERS Net Pension Liability is $10 million (between $8.7 and $14.0 million), the liability could be eliminated or reduced in this Ten-Year period by contributing another $1.0 million/year. If the city chose to open and fund a pension trust, any additional discretionary payments would offset the unfunded pension liability and could be used for future contributions. In general, paying earlier reduces long-term pension costs because additional contributions have more time to compound investment returns, reducing the need for future contributions. The extent to which any additional contributions would lower future payments would depend largely on realized investment returns. Recommendation: Form an irrevocable Pension Trust, set a $10 million target, and fund with $1.0 million annually as a General Fund Expense. 218 14 Appendix 219 15 List of Exhibits Exhibit 1–Ten-Year Financial Projection with an 8% Increase in Police Service Contract Exhibit 2–Ten-Year Financial Projection with a 10% Increase in Police Service Contract Exhibit 3–FY 2016/17 CAFR Page 47-Capital Assets Exhibit 4 – Summary of All Insured City Assets 220 City of La Quinta As of March 23 2018ActualGrowthAdjusted Budget2018/19 to 2027/282016/17 Projections 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27 2027/28TOTAL1. Cash ReceiptsSales Tax - Bradley Burns8,597,655$ 1% 8,776,100$ 8,863,861$ 8,952,500$ 9,042,025$ 9,132,445$ 9,223,769$ 9,316,007$ 9,409,167$ 9,503,259$ 9,598,291$ 9,694,274$ 92,735,598$ Property Tax9,237,781 2%8,579,100 8,750,682 8,925,696 9,104,210 9,286,294 9,472,020 9,661,460 9,854,689 10,051,783 10,252,819 10,457,875 95,817,526 Transient Occupancy Tax8,933,184 2%8,516,900 8,687,238 8,860,983 9,038,202 9,218,966 9,403,346 9,591,413 9,783,241 9,978,906 10,178,484 10,382,054 95,122,832 Fire Service Property Tax ᵃ5,480,897 2%6,726,000 6,860,520 6,997,730 7,137,685 7,280,439 7,426,047 7,574,568 7,726,060 7,880,581 8,038,193 8,198,956 75,120,780 Fire Property Tax Reserves138,680 281,438 432,650 592,709 762,027 941,029 1,130,161 1,329,889 1,540,696 1,763,088 8,912,365 Motor Vehicle In-Lieu3,813,213 2%3,708,000 3,782,160 3,857,803 3,934,959 4,013,658 4,093,932 4,175,810 4,259,326 4,344,513 4,431,403 4,520,031 41,413,597 Other Revenue/Intergovernmental ᵇ1,190,129 1%1,735,600 1,452,956 1,467,486 1,482,160 1,496,982 1,511,952 1,527,071 1,542,342 1,557,765 1,573,343 1,589,077 15,201,134 Franchise Fees1,725,851 1%1,553,000 1,568,530 1,584,215 1,600,057 1,616,058 1,632,219 1,648,541 1,665,026 1,681,676 1,698,493 1,715,478 16,410,294 Charges for Services1,021,336 1%1,258,200 1,270,782 1,283,490 1,296,325 1,309,288 1,322,381 1,335,605 1,348,961 1,362,450 1,376,075 1,389,836 13,295,191 Development Related Permits759,969 1%936,700 946,067 955,528 965,083 974,734 984,481 994,326 1,004,269 1,014,312 1,024,455 1,034,700 9,897,954 Document Transfer Tax585,333 1%531,000 536,310 541,673 547,090 552,561 558,086 563,667 569,304 574,997 580,747 586,554 5,610,989 Business Licenses/Permits358,943 1%321,000 324,210 327,452 330,727 334,034 337,374 340,748 344,155 347,597 351,073 354,584 3,391,954 Fines and Assessments348,345 1%246,000 248,460 250,945 253,454 255,989 258,548 261,134 263,745 266,383 269,047 271,737 2,599,441 SilverRock Resort Net Revenue ᶜ531,400 1,260,000 2,500,000 2,960,000 2,842,000 3,222,000 3,540,000 3,575,400 3,611,154 24,041,954 2. Total Revenue$42,052,635$42,887,600 $43,430,456 $44,818,337 $46,424,627 $48,564,157 $49,946,182 $50,773,379 $52,122,447 $53,434,111 $54,488,518 $55,569,397 $499,571,6113. Cash Paid OutPolice Services Contract ᵈ14,417,358 8% 15,879,100 17,149,428 18,521,382 20,003,093 21,603,340 23,331,607 25,198,136 27,213,987 29,391,106 31,742,394 34,281,786 248,436,260 Fire Service Contract ᵈ5,643,880 4%6,730,000 6,999,200 7,279,168 7,570,335 7,873,148 8,188,074 8,515,597 8,856,221 9,210,470 9,578,888 9,962,044 84,033,145 Salaries (Full-Time Employees)4,989,399 3%5,527,700 5,693,531 5,864,337 6,040,267 6,221,475 6,408,119 6,600,363 6,798,374 7,002,325 7,212,395 7,428,767 65,269,952 Maintenance & Operations ᵉ4,029,463 2%4,613,700 4,705,974 4,800,093 4,896,095 4,994,017 5,093,898 5,195,776 5,299,691 5,405,685 5,513,799 5,624,075 51,529,102 Other Contract Services3,821,091 2%3,206,000 3,270,120 3,335,522 3,402,233 3,470,278 3,539,683 3,610,477 3,682,686 3,756,340 3,831,467 3,908,096 35,806,902 Capital Expenses ᶠ3,937,135 1,567,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 15,520,000 Employee Medical Insurance Costs880,980 3%1,373,300 1,414,499 1,456,934 1,500,642 1,545,661 1,592,031 1,639,792 1,688,986 1,739,655 1,791,845 1,845,600 16,215,646 Transfers Out ᶢ1,372,300 1,219,500 1,219,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 8,595,000 Other Personnel Costs618,674 2%896,100 914,022 932,302 950,948 969,967 989,367 1,009,154 1,029,337 1,049,924 1,070,922 1,092,341 10,008,286 PERS Unfunded Pension Liabilityͪ454,756 592,784 711,814 866,600 986,100 1,138,800 1,272,600 1,348,200 1,348,248 1,375,213 1,402,717 1,430,772 11,881,064 PERS Normal Payroll Costs348,821 2%363,816 605,238 617,343 629,690 642,283 655,129 668,232 681,596 695,228 709,133 723,315 6,627,187 Salaries (Part-Time/Temporary)143,123 2%340,400 347,208 354,152 361,235 368,460 375,829 383,346 391,013 398,833 406,810 414,946 3,801,831 1996 Bond Debt Service678,100 671,400 668,200 668,200 4. Total Operational Expenses$41,335,079$42,980,800 $45,250,734 $46,399,334 $48,712,138 $51,198,930 $53,817,838 $56,540,572 $59,361,639 $62,396,279 $65,631,870 $69,083,241 $558,392,5755. Yearly Operating Cash Position(2 minus 4) 717,556 (93,200) (1,820,278) (1,580,997) (2,287,511) (2,634,774) (3,871,656) (5,767,193) (7,239,191) (8,962,168) (11,143,352) (13,513,844) (58,820,964)6. Measure G Sales Tax Revenue(95% of Sales Tax Bradley Burns)1,462,6508,000,000 8,420,668 8,504,875 8,589,923 8,675,823 8,762,581 8,850,207 8,938,709 9,028,096 9,118,377 9,209,56188,098,818 7. Cash Position After Measure G(5 plus 6)$2,180,206 7,906,800$ 6,600,390$ 6,923,878$ 6,302,412$ 6,041,049$ 4,890,925$ 3,083,014$ 1,699,517$ 65,928$ (2,024,975)$ (4,304,284)$ 29,277,854$ 8. Measure G UsesPolice Services Contract ᶜ100,000 - Capital Expenses990,873 4,969,464 3,731,561 3,859,103 3,764,599 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,00032,355,263 Measure G Reserves471,777 330,500- Public Safety Fund300,000- 9. Total Measure G Uses1,462,650$ 5,699,964$ 3,731,561$ 3,859,103$ 3,764,599$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 32,355,263$ 10. Cash Position After Measure G Uses(7 minus 9)717,556 2,206,836 2,868,829 3,064,775 2,537,813 3,041,049 1,890,925 83,014 (1,300,483) (2,934,072) (5,024,975) (7,304,284) (3,077,409) 11. RDA Loan RepaymentRepayment based on Last & Final ROPS1,826,881 2,441,620 2,490,453 2,540,262 2,591,066 2,642,888 2,695,746 2,749,661 2,804,654 2,860,747 2,917,962 2,976,321 27,269,760 12. Cash Position After RDA Repayment(10 plus 11)2,544,437$ 4,648,456$ 5,359,282$ 5,605,037$ 5,128,879$ 5,683,937$ 4,586,671$ 2,832,675$ 1,504,171$ (73,325)$ (2,107,013)$ (4,327,963)$ 24,192,351$ OPERATING BUDGET NOTES:a - Fire Property Tax Reserve account balance as of June 30, 2017 is $9,371,699. These funds are held in trust by the County of Riverside and restricted for fire services. b - Intergovernmental revenue will experience a decrease of $300,000 in 18/19 due one-time revenue in 17/18 and lower administrative reimbursements from Redevelopment dissolution resulting from an approved last and final repayment schedule. c - SilverRock Resort Net Revenue includes revenue derived from sales tax, property tax, transient occupancy tax and development fees. d - Police and Fire services are provided by the County of Riverside and subject to the County's annual budget for services. e - Maintenance and operations includes utilities and internal services charges. f - Capital expenses for 16/17 included the Eisenhower Drive retention basin land purchase. Ongoing projections include minimum capital funding for street and sidewalk improvements required to secure Measure A and Gas Tax funding. g - Transfers Out support the Gas Tax Fund for street improvements, the Landscape and Lighting District, and SilverRock golf course. A decrease in 19/20 is anticipated due to the scheduled disposition of SilverRock. h - PERS unfunded pension liability projections are based on CalPERS actuarial valuations as of June 30, 2016. GENERAL FUND FINANCIAL PROJECTIONSOPERATING BUDGETThe Adjusted Budget for 17/18 includes anticipated mid-year changes. Revenue projections are based on current economic conditions and historical trends. All assumptions include positive growth with no economic downturns. Expenditure projections are based on current operations, regulatory requirements, and anticipated increases. Measure G Uses Include:FY 16/17 Approved Uses:Eisenhower Dr. retention basin, Calle Tampico drainage improvementsFY 17/18 Approved Uses:Citywide drainage improvements, Village road diet, N. LQ landscape improvements, police servicesFY 18/19 Proposed Uses:Citywide drainage improvements, N. LQ landscape improvementsFY 19/20 & 20/21 Proposed Uses:N. LQ landscape improvements,corporate yard facilityFY 21/22 & beyond CIP TBDMEASURE G SALES TAX BUDGETRDA LOANRDA loan repayments end in 29/30. Additional revenue totals $5,784,105. EXHIBIT 1221 City of La Quinta As of March 23, 2018ActualGrowthAdjusted Budget2018/19 to 2027/282016/17 Projections 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27 2027/28TOTAL1. Cash ReceiptsSales Tax - Bradley Burns8,597,655$ 1% 8,776,100$ 8,863,861$ 8,952,500$ 9,042,025$ 9,132,445$ 9,223,769$ 9,316,007$ 9,409,167$ 9,503,259$ 9,598,291$ 9,694,274$ 92,735,598$ Property Tax9,237,781 2%8,579,100 8,750,682 8,925,696 9,104,210 9,286,294 9,472,020 9,661,460 9,854,689 10,051,783 10,252,819 10,457,875 95,817,526 Transient Occupancy Tax8,933,184 2%8,516,900 8,687,238 8,860,983 9,038,202 9,218,966 9,403,346 9,591,413 9,783,241 9,978,906 10,178,484 10,382,054 95,122,832 Fire Service Property Tax ᵃ5,480,897 2%6,726,000 6,860,520 6,997,730 7,137,685 7,280,439 7,426,047 7,574,568 7,726,060 7,880,581 8,038,193 8,198,956 75,120,780 Fire Property Tax Reserves138,680 281,438 432,650 592,709 762,027 941,029 1,130,161 1,329,889 1,540,696 1,763,088 8,912,365 Motor Vehicle In-Lieu3,813,213 2%3,708,000 3,782,160 3,857,803 3,934,959 4,013,658 4,093,932 4,175,810 4,259,326 4,344,513 4,431,403 4,520,031 41,413,597 Other Revenue/Intergovernmental ᵇ1,190,129 1%1,735,600 1,452,956 1,467,486 1,482,160 1,496,982 1,511,952 1,527,071 1,542,342 1,557,765 1,573,343 1,589,077 15,201,134 Franchise Fees1,725,851 1%1,553,000 1,568,530 1,584,215 1,600,057 1,616,058 1,632,219 1,648,541 1,665,026 1,681,676 1,698,493 1,715,478 16,410,294 Charges for Services1,021,336 1%1,258,200 1,270,782 1,283,490 1,296,325 1,309,288 1,322,381 1,335,605 1,348,961 1,362,450 1,376,075 1,389,836 13,295,191 Development Related Permits759,969 1%936,700 946,067 955,528 965,083 974,734 984,481 994,326 1,004,269 1,014,312 1,024,455 1,034,700 9,897,954 Document Transfer Tax585,333 1%531,000 536,310 541,673 547,090 552,561 558,086 563,667 569,304 574,997 580,747 586,554 5,610,989 Business Licenses/Permits358,943 1%321,000 324,210 327,452 330,727 334,034 337,374 340,748 344,155 347,597 351,073 354,584 3,391,954 Fines and Assessments348,345 1%246,000 248,460 250,945 253,454 255,989 258,548 261,134 263,745 266,383 269,047 271,737 2,599,441 SilverRock Resort Net Revenue ᶜ531,400 1,260,000 2,500,000 2,960,000 2,842,000 3,222,000 3,540,000 3,575,400 3,611,154 24,041,954 2. Total Revenue$42,052,635$42,887,600 $43,430,456 $44,818,337 $46,424,627 $48,564,157 $49,946,182 $50,773,379 $52,122,447 $53,434,111 $54,488,518 $55,569,397 $499,571,6113. Cash Paid OutPolice Services Contract ᵈ14,417,358 10% 15,879,100 17,467,010 19,213,711 21,135,082 23,248,590 25,573,449 28,130,794 30,943,874 34,038,261 37,442,087 41,186,296 278,379,155 Fire Service Contract ᵈ5,643,880 4%6,730,000 6,999,200 7,279,168 7,570,335 7,873,148 8,188,074 8,515,597 8,856,221 9,210,470 9,578,888 9,962,044 84,033,145 Salaries (Full-Time Employees)4,989,399 3%5,527,700 5,693,531 5,864,337 6,040,267 6,221,475 6,408,119 6,600,363 6,798,374 7,002,325 7,212,395 7,428,767 65,269,952 Maintenance & Operations ᵉ4,029,463 2%4,613,700 4,705,974 4,800,093 4,896,095 4,994,017 5,093,898 5,195,776 5,299,691 5,405,685 5,513,799 5,624,075 51,529,102 Other Contract Services3,821,091 2%3,206,000 3,270,120 3,335,522 3,402,233 3,470,278 3,539,683 3,610,477 3,682,686 3,756,340 3,831,467 3,908,096 35,806,902 Capital Expenses ᶠ3,937,135 1,567,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 1,552,000 15,520,000 Employee Medical Insurance Costs880,980 3%1,373,300 1,414,499 1,456,934 1,500,642 1,545,661 1,592,031 1,639,792 1,688,986 1,739,655 1,791,845 1,845,600 16,215,646 Transfers Out ᶢ1,372,300 1,219,500 1,219,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 819,500 8,595,000 Other Personnel Costs618,674 2%896,100 914,022 932,302 950,948 969,967 989,367 1,009,154 1,029,337 1,049,924 1,070,922 1,092,341 10,008,286 PERS Unfunded Pension Liabilityͪ454,756 592,784 711,814 866,600 986,100 1,138,800 1,272,600 1,348,200 1,348,248 1,375,213 1,402,717 1,430,772 11,881,064 PERS Normal Payroll Costs348,821 2%363,816 605,238 617,343 629,690 642,283 655,129 668,232 681,596 695,228 709,133 723,315 6,627,187 Salaries (Part-Time/Temporary)143,123 2%340,400 347,208 354,152 361,235 368,460 375,829 383,346 391,013 398,833 406,810 414,946 3,801,831 1996 Bond Debt Service678,100 671,400 668,200 668,200 4. Total Operational Expenses$41,335,079$42,980,800 $45,568,316 $47,091,663 $49,844,127 $52,844,180 $56,059,679 $59,473,230 $63,091,526 $67,043,434 $71,331,563 $75,987,751 $588,335,4695. Yearly Operating Cash Position(2 minus 4) 717,556 (93,200) (2,137,860) (2,273,326) (3,419,501) (4,280,024) (6,113,498) (8,699,851) (10,969,078) (13,609,323) (16,843,045) (20,418,354) (88,763,859)6. Measure G Sales Tax Revenue(95% of Sales Tax Bradley Burns)1,462,6508,000,000 8,420,668 8,504,875 8,589,923 8,675,823 8,762,581 8,850,207 8,938,709 9,028,096 9,118,377 9,209,56188,098,818 7.Cash Position After Measure G(5 plus 6)$2,180,206 7,906,800$ 6,282,808$ 6,231,549$ 5,170,423$ 4,395,799$ 2,649,083$ 150,356$ (2,030,370)$ (4,581,227)$ (7,724,668)$ (11,208,793)$ (665,041)$ 8. Measure G UsesPolice Services Contract ᶜ100,000 - Capital Expenses990,873 4,969,464 3,731,561 3,859,103 3,764,599 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,00032,355,263 Measure G Reserves471,777 330,500- Public Safety Fund300,000- 9. Total Measure G Uses1,462,650$ 5,699,964$ 3,731,561$ 3,859,103$ 3,764,599$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 32,355,263$ 10. Cash Position After Measure G Uses(7 minus 9)717,556 2,206,836 2,551,247 2,372,446 1,405,824 1,395,799 (350,917) (2,849,644) (5,030,370) (7,581,227) (10,724,668) (14,208,793) (33,020,304) 11. RDA Loan RepaymentRepayment based on Last & Final ROPS1,826,881 2,441,620 2,490,453 2,540,262 2,591,066 2,642,888 2,695,746 2,749,661 2,804,654 2,860,747 2,917,962 2,976,321 27,269,760 12.Cash Position After RDA Repayment(10 plus 11)2,544,437$ 4,648,456$ 5,041,700$ 4,912,708$ 3,996,890$ 4,038,687$ 2,344,829$ (99,983)$ (2,225,716)$ (4,720,480)$ (7,806,706)$ (11,232,473)$ (5,750,544)$ The Adjusted Budget for 17/18 includes anticipated mid-year changes. Revenue projections are based on current economic conditions and historical trends. All assumptions include positive growth with no economic downturns. Expenditure projections are based on current operations, regulatory requirements, and anticipated increases. Measure G Uses Include:FY 16/17 Approved Uses:Eisenhower Dr. retention basin, Calle Tampico drainage improvementsFY 17/18 Approved Uses:Citywide drainage improvements, Village road diet, N. LQ landscape improvements, police servicesFY 18/19 Proposed Uses:Citywide drainage improvements, N. LQ landscape improvementsFY 19/20 & 20/21 Proposed Uses:N. LQ landscape improvements,corporate yard facilityFY 21/22 & beyond CIP TBDRDA loan repayments end in 29/30. Additional revenue totals $5,784,105. OPERATING BUDGET NOTES:a - Fire Property Tax Reserve account balance as of June 30, 2017 is $9,371,699. These funds are held in trust by the County of Riverside and restricted for fire services. b - Intergovernmental revenue will experience a decrease of $300,000 in 18/19 due one-time revenue in 17/18 and lower administrative reimbursements from Redevelopment dissolution resulting from an approved last and final repayment schedule. c - SilverRock Resort Net Revenue includes revenue derived from sales tax, property tax, transient occupancy tax and development fees. d - Police and Fire services are provided by the County of Riverside and subject to the County's annual budget for services. e - Maintenance and operations includes utilities and internal services charges. f - Capital expenses for 16/17 included the Eisenhower Drive retention basin land purchase. Ongoing projections include minimum capital funding for street and sidewalk improvements required to secure Measure A and Gas Tax funding. g - Transfers Out support the Gas Tax Fund for street improvements, the Landscape and Lighting District, and SilverRock golf course. A decrease in 19/20 is anticipated due to the scheduled disposition of SilverRock. h - PERS unfunded pension liability projections are based on CalPERS actuarial valuations as of June 30, 2016. GENERAL FUND FINANCIAL PROJECTIONSOPERATING BUDGETMEASURE G SALES TAX BUDGETRDA LOANEXHIBIT 2222 CITY OF LA QUINTA, CALIFORNIA NOTES TO BASIC FINANCIAL STATEMENTS JUNE 30, 2017 47 NOTE 4: CAPITAL ASSETS Capital asset activity for governmental activities for the year ended June 30, 2017, is as follows: Beginning Ending Balance at Balance at July 1, 2016 Additions Deletions Transfers June 30, 2017 Governmental activities: Capital assets, not being depreciated: Land 69,816,674$ 4,500,000$ -$ -$74,316,674 Right of way 284,928,794 - - - 284,928,794 Construction-in-progress 8,692,612 4,587,553 -(3,310,670) 9,969,495 Total Capital Assets, Not Being Depreciated 363,438,080 9,087,553 -(3,310,670) 369,214,963 Capital assets, being depreciated: Buildings and improvements 74,176,560 199,856 -264,395 74,640,811 Equipment and furniture 3,442,965 39,957 -- 3,482,922 Vehicles 1,751,819 452,067 329,500 -1,874,386 Infrastructure 218,399,541 - - 3,046,275 221,445,816 Total Capital Assets, Being Depreciated 297,770,885 691,880 329,500 3,310,670 301,443,935 Less accumulated depreciation for: Buildings and improvements 28,159,909 2,361,480 - - 30,521,389 Equipment and furniture 2,216,710 237,744 - - 2,454,454 Vehicles 1,563,715 68,123 329,500 -1,302,338 Infrastructure 108,789,321 6,506,746 - - 115,296,067 Total Accumulated Depreciation 140,729,655 9,174,093 329,500 -149,574,248 Total Capital Assets, Being Depreciated, Net 157,041,230 (8,482,213) -3,310,670 151,869,687 Governmental Activities Capital Assets, Net 520,479,310$ 605,340$ -$ -$521,084,650 Depreciation expense was charged to the following functions in the Statement of Activities: General governments 634,400$ Planning and development 115,832 Community services 1,820,841 Public works 6,603,020 9,174,093$ EXHIBIT 3 223 EXHIBIT 4 Natural Disaster  Reserve % of  City Coverage Asset  Estimated  Replacement  Value  Recommended  Coverage Recommended  Coverage FEMA/State City Coverage 14 Parks 19,966,204    ‐ ‐18,718,316        1,247,888 623,944 50% 0%94%6% 12 City Buildings 60,322,936    31,197,068            52,562,286           1,678,125          111,875              111,875 100% 52%87%3%0.19% SilverRock 6,317,571       3,034,645              2,592,501             3,651,397          243,426              121,713 50% 48%41%58%4% Streets, Signals, 266,775,219  ‐ 823,394 248,557,904      16,570,527        8,285,263              50% Signs, Landscaping 0%0.31%93%6% Fleet Vehicles 693,182          693,182 ‐‐693,182              693,182 100% 100%0%100% Housing Assets 12,059,000    12,059,000            5,199,000             6,431,250          428,750              428,750 100% 100%43%53%4% TOTALS 366,134,112  46,983,895            61,177,181            279,036,992       19,295,648          10,264,728             Percentage of Total Value 13%17%76%5%3% Property Coverage (Flood, Fire, Wind) Earthquake  Coverage Estimated Replacement Costs  Funding Sources SUMMARY OF ALL INSURED CITY ASSETS  224 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE SILVERROCK RESORT 2018/19 ANNUAL PLAN RECOMMENDATION Approve the SilverRock Resort 2018/19 Annual Plan. EXECUTIVE SUMMARY •Landmark Golf Management LLC (Landmark) manages the SilverRock Resort golf course and is required to provide an annual operations plan for Council’s review and approval. •The SilverRock 2018/19 Annual Plan (Plan) (Attachment 1) reflects the projected number of rounds, revenues, and operation costs. •The golf operations are projected to have a net profit of $24,856. FISCAL IMPACT The General Fund and SilverRock Reserve Fund are projected to underwrite $100,200 of the overall 2018/19 SilverRock expenses. The projected golf operations expenses (not including City staff golf course and non-golf course management/oversight costs) are $3,812,541, and projected golf operations revenue is $3,837,397 for a net profit of $24,856. The City will also fund $122,900 for golf course and non-golf course management/oversight by City staff. All revenue and expenses will be included in the proposed 2018/19 City Budget. SilverRock Golf Course Operations Revenue $3,837,397 Operations Budget -$3,812,541 Net Income from Operations $24,856 SilverRock Property Management/Oversight General Fund Contribution $50,000 SilverRock Reserve Fund Contribution $50,200 City Management/Oversight -$122,900 Budget Surplus $2,156 BACKGROUND/ANALYSIS In July 2013, the City entered into a Golf Course Management Agreement (Agreement) with Landmark. The Agreement requires an annual plan for golf operations. The Plan BUSINESS SESSION ITEM NO. 3 225 provides projected annual revenues and expenses, department costs, staffing and service levels. The Plan forecasts the continuation of the pro-shop and food service from the Ahmanson House during the construction of the hotels and conference center by the Robert Green Company. Additional assumptions include: •46,155 rounds of play; the average projected revenue is $82.66 per round, based on the total revenue (less food and beverage) divided by the total rounds. The average green fee is $73.69. The difference between revenue per round and the average green fee is the additional revenue generated from merchandise sales, and range and lesson revenue. Food and beverage revenue is not included; •A minimum wage increase effective January 1, 2019; •A two percent capital reserve of $68,026 set aside for future golf course equipment and improvements (per the Agreement); •A management fee increase of 4% to $114,000 (per the Agreement); and •The proposed advertising budget is $229,960. SilverRock is being promoted as a premier golf destination in the Coachella Valley via the internet, newspapers, magazines, directories, television, and radio. Landmark would like to continue promoting a Footgolf course on the front nine for potential additional revenue this summer. This activity will continue in the late afternoons during the season (such as the “Walk the Rock” program). ALTERNATIVES Approve the Annual Plan with modifications. Prepared by: Steve Howlett, Facilities Director Approved by: Frank J. Spevacek, City Manager Attachment: 1. SilverRock Resort – Arnold Palmer Classic Golf Course – 2018/19 Annual Plan 226 SilverRock Resort-Arnold Palmer Classic Course 2018-2019 ANNUAL PLAN Prepared For: City of La Quinta SilverRock Resort Prepared By: Landmark Golf Management Submitted: April 10, 2018 227 SILVERROCK RESORT Annual Plan Fiscal Year 2018-2019 Table of Contents Part I-Project Overview Project Fact Sheet 1 Mission Statement 2 Philosophy Statement 3 Organizational Chart 4 Key Employee Staffing 5 Part II-Assumptions 2018-2019 Assumptions 6, 7, 8 Part III-Operational Financial Projections 2018-2019 Consolidated Income Statement 9 Part IV-Department Detail Golf Rounds and Revenue 10 Golf Shop / Merchandise 11 Carts, Bagroom & Range 12 Course Services 13 Golf Course Maintenance 14, 15 General & Administrative 16 Marketing 17 Clubhouse 18 Miscellaneous 19 Part V-Food and Beverage Department Detail 20 Part VI-Other Marketing Narrative Plan 21, 22 2018-2019 Golf Rates 23 228 COURSE NAME SilverRock Resort-Arnold Palmer Classic Course ADDRESS 79-179 Ahmanson Lane, La Quinta, Ca. 92253 TELEPHONE 1-888-600-7272 1-760-777-8884 WEBSITE WWW.SILVERROCK.ORG MANAGEMENT Randy Duncan, PGA, Director of Golf / General Manager Scott Werline, Golf Course Superintendent COURSE YARDAGE SILVER 7,239 PAR 72 GOLD 6,809 PAR 72 BLUE 6,313 PAR 72 WHITE 5,669 PAR 72 GREEN 5,089 PAR 72 RED 4,542 PAR 72 GRASS TYPES GREENS:TIF DWARF FAIRWAY / TEES:TIF SPORT / 419 ROUGHS:TIF SPORT / 419 OWNER CITY OF LA QUINTA MANAGED BY LANDMARK GOLF MANAGEMENT, LLC 74-947 HIGHWAY 111, SUITE 215 INDIAN WELLS, CA 92210 PHONE: (760) 776-6688 DATE COURSE OPENED February 14, 2005 PROJECT FACT SHEET 1 229 SILVERROCK RESORT Annual Plan Fiscal Year 2018-2019 Mission Statement “TO BE THE BEST” “TO HAVE THE BEST GOLF FACILITIES” “TO HAVE THE BEST GOLF COURSE CONDITIONS” “TO PROVIDE THE BEST SERVICE” SilverRock Resort is dedicated to providing the finest public golf experience. All Staff Members of the facility play an important role in our Mission. Staff is supported through training and resources to ensure success. SilverRock Resort aspires to represent ownership and management with the highest standard of service in the Golf/Resort Industry and produce superior golf course conditions to meet and exceed the goals. Goals and Objectives: To support our Mission Statement and to achieve the projected Annual Plan; SilverRock Resort will pursue the following goals and objectives: •To hire and train staff members that will provide a high standard of guest services and maintain the highest level of course conditions •To maintain and pursue an aggressive Marketing Plan that benefits/acknowledges the La Quinta Residents, local residents, avid tourist golfers and golfing public •To have each Department operate within their annual budget allowing SilverRock Resort to reach the net operating goals 2 230 SILVERROCK RESORT Annual Plan Fiscal Year 2018-2019 PHILOSOPHY STATEMENT After thirteen and a half years of operations, an Annual Plan accommodated the operational start-up through and including grow-in, final construction of the Arnold Palmer Classic Course, a notable Grand Opening Celebration and four successful years as one of the home courses of the Bob Hope Classic. As the 2018-2019 Annual Plan is implemented, focus will continue to be on broadening the awareness, marketability and noteworthiness of SilverRock Resort’s Arnold Palmer Classic Course, golf facilities and amenities. The philosophy that Landmark Golf Management perpetuates at SilverRock Resort is: an operation that allows management to utilize golf industry best-practices in accommodating market-driven demands as market shifts may occur. Each golf course facility has its own personality and characteristics; therefore, each golf operation is unique to some degree and should be managed with personality and characteristics taken into consideration. Golf operators that adjust procedures to short and long term market and industry fluctuations are better suited to maximize opportunities. In this upcoming twelve months of operations, Landmark Golf Management will put forth every effort to best position SilverRock Resort as a place to frequent in the eyes and minds of the influential decision makers in the world of golf. BRAND PROMISE Discover the mystique of SilverRock Resort, the crown jewel of La Quinta and its golf legacy. Rich in both history and legend, the majestic Santa Rosa Mountains frame an unwavering commitment to an exceptional experience at SilverRock Resort. Our Promise: Exceptional in All, For All, Always. 3 231 2018-2019 Annual PlanAsst. Golf ProfessionalsGolf Shop BuyerSales AssociatesCarts/Bag RoomStarters P.A.RangersDriving RangeGuest / Outside ServiceOutside Services ManagerGolf ShopHead Golf ProfessionalAsst. SuperintendentMechanic(s)Irrigation TechnicianSpray TechnicianGreenskeeper(s)Administrative Asst.Golf Course MaintenanceSuperintendentAdmin. Asst.To Controller & GMAccountingController / Human ResourcesRestaurantF&B Server(s) / Cart Attendent(s)Food & BeverageF&B ManagerMarketing & SalesTournament Sales ManagerSilverRock Resort Golf ClubGeneral Mgr. / Director of GolfLandmark Golf ManagementManagement TeamFacilities Department DirectorCity ManagerCity of La QuintaCity Council & Staff4232 RUN DATE: 04-Apr-18Key Employee Staffing PREPARED BY: DEPARTMENT SUMMARYJUL.AUG.SEP.OCT.NOV.DEC.JAN.FEB.MAR.APR.MAYJUN.GOLF OPERATION OUTSIDE SERVICESOUTSIDE SERVICES MANAGER (FULL TIME)111111111111OUTSIDE SERVICES SUPERVISORS (FULL-TIME)111111111111DRIVING RANGE (PART-TIME)111111222211CART/BAG/VALET/BAG DROP (FULL-TIME)444444444444CART/BAG/VALET/BAG DROP (PART-TIME)000222222211SHUTTLE DRIVER (PART-TIME)000022222200777911111212121288GOLF SHOP HEAD GOLF PROFESSIONAL (FULL TIME)1111111111111ST ASSISTANT PROFESSIONAL (FULL TIME) 111111111111MERCHANDISER (FULL TIME)111111111111ASSISTANT PROFESSIONAL (FULL TIME)222222222222SALES CLERKS (FULL TIME)111222222222SALES CLERKS (PART TIME)000111111110666888888887COURSE SERVICESSTARTERS (PART TIME)3 3 3 333333333RANGER/MARSHALS (PART TIME)000024444400333357777733GOLF COURSE MAINTENANCESUPERINTENDENT (FULL TIME)1 1 1 111111111ASST SUPERINTENDENT (FULL TIME)111111111111FOREMAN/SPRAY TECHNICIAN (FULL TIME)111111111111HEAD MECHANIC / FACILITY MANAGER (FULL TIME)111111111111ASST MECHANIC (FULL TIME)111111111111HEAD IRRIGATOR (FULL TIME)111111111111ASST IRRIGATOR (FULL TIME)111111111111GREENKEEPERS (FULL TIME)121212121717171717171717ADMINISTRATIVE ASSISTANT (FULL TIME)111111111111TOTAL TURF & ADMIN STAFF 202020202525252525252525LANDSCAPE MAINTENANCEFOREMAN (FULL TIME)1 1 1 111111111IRRIGATOR (FULL TIME)111111111111LANDSCAPERS (FULL TIME)666666666666TOTAL LANDSCAPE CREW 888888888888TOTAL COURSE MAINTENANCE STAFF 282828283333333333333333FOOD & BEVERAGEF & B MANAGER / SUPERVISOR (FULL TIME)111111111111CHEF (FULL TIME)111111111111COOK (FULL TIME)111111111111PREP COOK (FULL TIME)111111111111LEAD SERVER (FULL-TIME)111111111111F & B WAIT/BEVERAGE CART/HALF(FULL TIME)111111111111F & B WAIT/BEVERAGE CART/HALF(PART TIME)222333333332BUSER / DISHWASHER (PART TIME)11111111111199910101010101010109G & ADIRECTOR OF GOLF/GM (FULL TIME)111111111111CLUB CONTROLLER (FULL TIME)111111111111ADMINISTRATIVE ASSISTANT (FULL TIME)111111111111333333333333MARKETING/TOURNAMENTTOURNAMENT SALES / GROUP COORDINATOR (FULL TIME)1 1 1 111111111TOTAL EMPLOYEES57 57 57 62 71737474747466642018-2019 ANNUAL PLAN Landmark Golf Management5233 SILVERROCK RESORT 2018-2019 ANNUAL PLAN 2018-2019 Assumptions Revenue Temporary Clubhouse & Operations It is assumed that prior to November 2018, golf operations will be served out of a temporary clubhouse located off of Ave 52 or will be out of the existing Ahmanson Clubhouse. It is assumed that the temporary clubhouse will have the amenities that the current Ahmanson Clubhouse provides (driving range & practice facilities, golf shop with merchandise & food & beverage grill). It is assumed there will not be a reduction in revenues as a result of the new temporary clubhouse and facilities. However, if during construction of the temporary clubhouse and facilities in the summer of 2018, plans change and the amenities are not equal to the existing Ahmanson Clubhouse and practice facilities a reduction in revenues will be inevitable. Green Fees: A green fee includes golf cart and warm-up range balls. A combination of the various green fee rates and green fee mix of Regular, Twilight, and Resident play is anticipated to yield an average rate of $73.69 per round on an annualized basis. The non-resident green fee rates for the 2018- 2019 fiscal year are projected to remain consistent with the prior year. Green fee rates will continue to be based on dynamic pricing and course utilization levels will dictate green fee rates. It is assumed in this Annual Plan, La Quinta Resident Card holders will continue to be offered discounted green fees. On November 7, 2017, La Quinta City Council adopted a new Resident tee time rate schedule. As a result, La Quinta Resident rates increased from $55 (high season), $45 (shoulder seasons) and $30 (summer season) to $60, $49 and $33 respectively. Accompanied La Quinta Resident Guests will continue to received 30% off prevailing posted rates and will follow similar booking procedures as extended to a La Quinta Resident card holder; booking three (3) days in advance. It is also assumed the overseeding dates will be October 8 through November 5, 2018. Annually overseeding reduces revenues during these dates which is taken into consideration in these projections with the course being closed these dates. It is also projected that aerification will occur in August 2018 and June of 2019 which reduces revenue for 3-5 days with each of these two (2) aerification cycles. Greens Fee Mix: Through proper marketing, yield management, and limited advanced Resident bookings the projected mix of green fees is: 30% Resident, 25% Public, 10% Public Twilight, & 35% Other (tournaments, wholesalers, juniors, resident guests, replays and discounts). Miscellaneous and Other Revenue: Is based on $2.96 per round. This consists of golf club rentals, golf club repairs, handicap fees, driving range fees, rider fees, and Independent Contractor’s Fees (Teaching Professionals). Golf Made Simple (Group Instruction) will not be operating during the 2018-2109 season at SilverRock due to unknown teaching facility space. This 6 234 SILVERROCK RESORT 2018-2019 ANNUAL PLAN amounts to a loss of revenue of approximately $50,000 between instructor fees and Food & Beverage loss of revenues. Golf Shop Merchandise: Is based on retail sales of $6.00 per round. Resident Card Fees: Annual Revenues of $165,300 are based on selling 1,102 La Quinta Resident Cards during the 2018-2019 Fiscal Year. This is consistent with prior year sales. Cost of Goods Sold Merchandise 55 % Food & Beverage 33 % Expenses Golf Carts, Bag Room, and Driving Range: Includes outside service, bag room, and driving range staff plus supplies and operating expense for this department. Another minimum wage increase to $12 per hour is scheduled for January 1, 2019. This increase has been factored into the 2018-2019 Annual Plan. Golf Shop: Includes golf professionals, merchandising sales staff, receiving staff and golf shop operational expenses. Another minimum wage increase to $12 per hour is scheduled for January 1, 2019. This increase has been factored into the 2018-2019 Annual Plan. Course Services: Includes course service staff consisting of course rangers/starters and related department supplies and materials. Another minimum wage increase to $12 per hour is scheduled for January 1, 2019. This increase has been factored into the 2018-2019 Annual Plan. Golf Course Maintenance: Includes compensation and payroll related costs for the Golf Course Maintenance Superintendent, grounds maintenance staff, supplies, and materials. Overseeding dates are projected to be October 8 through November 5, 2018, which results in projected higher labor cost and supply costs during the annual overseeding process. There are areas on the golf course that will not be over-seeded in an attempt to reduce costs and conserve water. Golf Course Superintendent education, training and travel expense are included in the 2018-2019 Annual Plan. In addition, Front Entry Landscape Maintenance will continue to be accounted for in this department’s operating budget. Another minimum wage increase to $12 per hour is scheduled for January 1, 2019. This increase has been factored into the 2018-2019 Annual Plan. It is also assumed that any turf grass transition expenses that may occur this summer (2018) related from the previous year’s back 9 redesign, will be paid for by the Developer (SDC). There is not money in this annual plan to cover any such expense. This would include any new green, fairway, or rough area that was either sodded or sprigged last summer. 7 235 SILVERROCK RESORT 2018-2019 ANNUAL PLAN Water & Electrical: The 2018-2019 Annual Plan includes water and electrical costs to irrigate the golf course and properly maintain the lake system. This is accounted for in the Golf Course Maintenance budget. The CVWD Board accepted and passed Option B moving the East Valley Canal rate from $47.15 to $68.64 an acre foot last July 2017. This represented a 46% increase in canal water costs. It is assumed that there will not be an increase in the water rate for 2018-2019 fiscal year. Annual Electric costs of $141,191 covers 100 % of the projects electric costs including; front entry water falls, golf course pump station, north village lake water falls & circulation pumps, cart storage area and clubhouse. These expenses will continue to be budgeted in the 2018-2019 Annual Plan as water and electrical costs. Food & Beverage: Includes food & beverage staff and expenses for the temporary clubhouse. There is a separate Agreement for the Food & Beverage Department including the Liquor License arrangement between the City and Landmark Golf Management. Marketing: Includes marketing, public relations, advertising, web page, collateral and tournament sales, etc. Refer to pages 21 & 22, for the marketing plan narrative. Clubhouse: Includes clubhouse expenses, maintenance/cleaning staff, landscape maintenance, parking lot and entry drive clean up. Roving patrol expenses to secure the entire property of SilverRock continues to be included in this department’s operating budget. Management Fee: The monthly Management Fee of $9,500 per the Golf Course Management Agreement is budgeted for the 2018-2019 fiscal year. This is a 4% increase over the prior year’s budget per the Golf Course Management Agreement. Insurance: Per requirements of the Golf Course Management Agreement in the Annual Plan is the cost for comprehensive golf club insurance policy, general liability, property, equipment and business interruption etc. G&A: Expenses include General Manager, Controller & Administrative Assistant Salaries, Professional Fees, Payroll Processing Fees, Equipment Expenses, Equipment Rental and Resident Card Expenses. Personal Property Lease Tax: Exempt, except personal property taxes on equipment purchases or leases which are included in this Annual Plan. Golf Carts Lease: Golf carts are leased for the Golf Club. The budgeted amount of $10,050 per month is not expected to increase from the prior year. GPS Lease: Monthly golf cart GPS rental/lease expense for the fleet of golf carts is $3,900 per month and will remain unchanged from the prior year. 8 236 SilverRock ResortCONSOLIDATED INCOME STATEMENTRUN DATE: 11-Apr-1807:58 AMFOR FISCAL YEAR - JULY 2018 - JUNE 2019PREPARED BY: Landmark Golf ManagementDEPARTMENT 2018-2019BUDGETJUL.AUG.SEP.OCT.NOV.DEC.JAN.FEB. MAR.APR.MAY JUN.ROUNDSROUNDS 46,1552,500 2,200 3,000455 4,600 4,100 5,000 5,500 6,000 5,400 4,950 2,450TOTAL ROUNDS46,1552,500 2,200 3,000455 4,600 4,100 5,000 5,500 6,000 5,400 4,950 2,450REVENUEGREEN FEES 3,401,30374,927 66,995 121,904 27,482 353,094 310,985 421,188 552,819 597,075 404,001 315,872 154,963MISC. REV/RANGE/CARTS/RENTALS136,7662,359 1,920 2,275 1,728 18,903 14,325 22,450 22,025 20,900 13,340 11,395 5,145GOLF SHOP MERCHANDISE277,1508,500 7,150 13,800 2,275 29,900 25,625 31,250 38,500 42,000 33,750 29,700 14,700RESIDENT CARD FEES165,300500500500 7,500 25,000 22,800 22,000 24,000 15,625 15,625 15,625 15,625FOOD & BEVERAGE CONCESSIONS12,000500500500 1,500 1,500 1,500 1,500 1,500 1,500500 500 500TOTAL REVENUE3,992,51886,787 77,065 138,979 40,485 428,396 375,235 498,388 638,844 677,100 467,216 373,092 190,933COST OF SALESPRO SHOP 155,1214,757 4,002 7,724 1,273 16,735 14,342 17,491 21,548 23,507 18,890 16,623 8,228TOTAL COST OF SALES155,1214,757 4,002 7,724 1,273 16,735 14,342 17,491 21,548 23,507 18,890 16,623 8,228GROSS PROFIT3,837,39782,029 73,063 131,255 39,212 411,661 360,893 480,897 617,295 653,593 448,326 356,469 182,705OPERATING EXPENSESGOLF CARTS\BAGS\RANGE 268,74213,051 15,721 14,331 14,698 30,461 25,573 27,480 34,380 27,205 26,705 20,776 18,361GOLF SHOP221,11514,298 14,298 13,852 12,852 20,452 20,452 21,892 20,377 20,377 19,677 23,332 19,256COURSE SERVICES 85,8553,941 3,941 4,651 3,183 7,659 10,788 11,554 11,503 11,503 9,586 3,773 3,773GOLF COURSE MAINTENANCE 1,740,490126,300 116,248 140,452 308,833 150,681 135,639 124,552 113,379 127,525 135,336 126,069 135,474WATER & ELECTRIC COST249,83823,415 22,810 22,747 18,240 15,369 16,775 17,713 17,148 17,252 21,664 25,736 30,969GENERAL & ADMINISTRATIVE 329,05324,845 25,695 25,245 25,870 30,571 30,446 27,546 27,796 27,546 27,546 28,096 27,846MARKETING229,9607,521 7,521 14,673 20,948 31,976 27,026 26,378 24,063 23,831 22,78112,913 10,328CLUBHOUSE 136,41210,776 10,776 10,776 11,876 13,076 10,776 11,276 10,776 13,576 10,776 10,776 11,176MANAGEMENT FEE 114,0009,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500CAPITAL RESERVES 68,0261,499 1,340 2,438550 7,062 6,220 8,424 11,056 11,942 8,080 6,317 3,099INSURANCE 48,0004,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000PERSONAL PROPERTY LEASE TAXES 11,8005,2000 4,000 2,60000000000LEASES309,25025,200 25,200 25,200 25,650 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000TOTAL OPERATING EXPENSES3,812,541269,546 257,051 291,865 458,801 346,807 323,196 316,316 309,980 320,258 321,651 297,288 299,782NET INCOME24,856(187,517) (183,988) (160,610) (419,589) 64,854 37,697 164,581 307,316 333,335 126,675 59,181 (117,077)NET INCOME %0.6%-216.1% -238.7% -115.6% -1036.4% 15.1% 10.0% 33.0% 48.1% 49.2% 27.1% 15.9% -61.3%Average Green Fee$73.69$29.97 $30.45 $40.63 $60.40 $76.76 $75.85 $84.24 $100.51 $99.51 $74.82 $63.81 $63.25Average $ Misc. Income per Rd$2.96$0.94 $0.87 $0.76 $3.80 $4.11 $3.49 $4.49 $4.00 $3.48 $2.47 $2.30 $2.10Average $ Merchandise per Rd$6.00$3.40 $3.25 $4.60 $5.00 $6.50 $6.25 $6.25 $7.00 $7.00 $6.25 $6.00 $6.00Total Average Revenue per Round$82.66$34.71 $35.03 $46.33 $88.98 $93.13 $91.52 $99.68 $116.15 $112.85 $86.52 $75.37 $77.932018-2019 ANNUAL PLAN 9237 2018-2019 ANNUAL PLAN SilverRock ResortRUN DATE: 04-Apr-18 10:49 AMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf Management0.600.40Golf RoundsTotalJUL.AUG.SEP.OCT.NOV.DEC.JAN.FEB.MAR.APR.MAYJUN.Resident Rnds (Weekday)6,23133829740561621554675743810729668331Resident Rnds (Weekend)7,61641336349575759677825908990891817404Sub-Total Resident Rnds 13,8477506609001371380123015001650180016201485735% of Total 0.300.300.300.300.300.300.300.300.300.300.300.300.30Public Rnds (Weekday)5,19228124833851518461563619675608557276Public Rnds (Weekend)6,34634430341363633564688756825743681337Sub-Total Public Rnds11,5396255507501141150102512501375150013501238613% of Total 0.250.250.250.250.250.250.250.250.250.250.250.250.25Public Twi (Weekday)2,0771139913520207185225248270243223110Public Twi (Weekend)2,53913812116525253226275303330297272135Sub-Total Twilight Rnds4,61625022030046460410500550600540495245% of Total 0.100.100.100.100.100.100.100.100.100.100.100.100.10Other (Weekday)7,26939434747372725646788866945851780386Other (Weekend)8,88548142457888886789963105911551040953472Tournaments 3,23117515421032322287350385420378347172Wholesales 3,23117515421032322287350385420378347172Resident Guest 1,61588771051616114417519321018917386Stand By Golf 1,61588771051616114417519321018917386Discounts 4,03921919326340403359438481525473433214PGA 808443953881728896105958743Junior 808443953881728896105958743Replay 808443953881728896105958743Sub-Total Other 16,15487577010501591610143517501925210018901733858% of Total0.350.350.350.350.350.350.350.350.350.350.350.350.35Total Rounds46,1552,5002,2003,000455460041005000550060005400495024500.45 Green Fees0.55Resident Rnds (Weekday)25.00$ 25.00$ 40.00$ 60.00$ 45.00$ 45.00$ 55.00$ 60.00$ 60.00$ 45.00$ 45.00$ 45.00$ Resident Rnds (Weekend)30.00$ 30.00$ 40.00$ 60.00$ 45.00$ 45.00$ 55.00$ 60.00$ 60.00$ 55.00$ 45.00$ 45.00$ Public Rnds (Weekday)25.00$ 25.00$ 40.00$ 50.00$ 80.00$ 80.00$ 90.00$ 130.00$ 130.00$ 90.00$ 65.00$ 60.00$ Public Rnds (Weekend)30.00$ 30.00$ 40.00$ 60.00$ 85.00$ 85.00$ 95.00$ 130.00$ 130.00$ 90.00$ 65.00$ 65.00$ Public Twi (Weekday)30.00$ 30.00$ 30.00$ 50.00$ 75.00$ 75.00$ 80.00$ 85.00$ 80.00$ 80.00$ 55.00$ 55.00$ Public Twi (Weekend)30.00$ 30.00$ 45.00$ 65.00$ 75.00$ 70.00$ 85.00$ 90.00$ 85.00$ 80.00$ 65.00$ 65.00$ Other (Weekday)30.00$ 30.00$ 30.00$ 50.00$ 75.00$ 75.00$ 80.00$ 90.00$ 90.00$ 60.00$ 60.00$ 60.00$ Other (Weekend)30.00$ 30.00$ 45.00$ 60.00$ 80.00$ 80.00$ 80.00$ 95.00$ 95.00$ 60.00$ 65.00$ 65.00$ Golf RevenueResident Rnds (Weekday)296,6368,438$ 7,425$ 16,200$ 3,686$ 27,945$ 24,908$ 37,125$ 44,550$ 48,600$ 32,805$ 30,071$ 14,884$ Resident Rnds (Weekend)375,34212,375$ 10,890$ 19,800$ 4,505$ 34,155$ 30,443$ 45,375$ 54,450$ 59,400$ 49,005$ 36,754$ 18,191$ Public Rnds (Weekday)433,8007,031$ 6,188$ 13,500$ 2,559$ 41,400$ 36,900$ 50,625$ 80,438$ 87,750$ 54,675$ 36,197$ 16,538$ Public Rnds (Weekend)545,16010,313$ 9,075$ 16,500$ 3,754$ 53,763$ 47,919$ 65,313$ 98,313$ 107,250$ 66,825$ 44,241$ 21,897$ Public Twi (Weekday)139,1743,375$ 2,970$ 4,050$ 1,024$ 15,525$ 13,838$ 18,000$ 21,038$ 21,600$ 19,440$ 12,251$ 6,064$ Public Twi (Weekend)180,4324,125$ 3,630$ 7,425$ 1,627$ 18,975$ 15,785$ 23,375$ 27,225$ 28,050$ 23,760$ 17,696$ 8,759$ 3,021$ 3,717$ 4,266$ 1,490$ 36,154$ 29,623$ 41,375$ 48,263$ 49,650$ 44,091$ 29,948$ 14,823$ Other (Weekday)489,70711,813$ 10,395$ 14,175$ 3,583$ 54,338$ 48,431$ 63,000$ 77,963$ 85,050$ 51,030$ 46,778$ 23,153$ Other (Weekend)634,63414,438$ 12,705$ 25,988$ 5,255$ 70,840$ 63,140$ 77,000$ 100,581$ 109,725$ 62,370$ 61,937$ 30,656$ Total Revenue3,401,30374,927$ 66,995$ 121,904$ 27,482$ 353,094$ 310,985$ 421,188$ 552,819$ 597,075$ 404,001$ 315,872$ 154,963$ 86,376 72,315 143,413 29,881 324,750 257,672 236,925 469,175 548,995 432,266 271,650 154,289Avg. Rate73.69$ 29.97$ 30.45$ 40.63$ 60.40$ 76.76$ 75.85$ 84.24$ 100.51$ 99.51$ 74.82$ 63.81$ 63.25$ Misc Revenue76.13$ ###########Club Rental 21,087504$ 620$ 711$ 228$ 2,325$ 2,050$ 2,500$ 2,750$ 3,000$ 2,700$ 2,475$ 1,225$ Driving Range Balls 94,872755$ 1,177$ 1,422$ 455$ 15,113$ 10,250$ 15,000$ 16,500$ 15,000$ 8,100$ 7,425$ 3,675$ Rider Fees7,307101$ 124$ 142$ 46$ 465$ 1,025$ 1,250$ 1,375$ 1,500$ 540$ 495$ 245$ Handicap Fees2,500-$ -$ -$ -$ -$ -$ 1,700$ 400$ 400$ -$ -$ -$ Independent Instructor Fees7,000-$ -$ -$ -$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ -$ Ball Retreival 4,0001,000$ -$ 1,000$ 1,000$ 1,000$ -$ -$ GPS Advertising Income0-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,000$ -$ -$ 1,000$ 5,000$ 5,000$ 6,000$ 6,000$ 6,000$ 7,000$ 4,000$ -$ Total136,7662,359$ 1,920$ 2,275$ 1,728$ 18,903$ 14,325$ 22,450$ 22,025$ 20,900$ 13,340$ 11,395$ 5,145$ 10238 2018-2019 ANNUAL PLAN SilverRock ResortRUN DATE: 10-Apr-18 01:37 PMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementGOLF SHOP - 61TOTALJUL.AUG.SEP.OCT.NOV.DEC.JAN.FEB.MAR.APR.MAYJUN.GOLF SHOP MERCHANDISE SALESTOTAL # OF ROUNDS46,1552,500 2,200 3,000 455 4,600 4,100 5,000 5,500 6,000 5,400 4,950 2,450AVERAGE REVENUE / ROUND$6.00 $3.40 $3.25 $4.60 $5.00 $6.50 $6.25 $6.25 $7.00 $7.00 $6.25 $6.00 $6.00TOTAL MERCHANDISE SALES$277,1508,500 7,150 13,800 2,275 29,900 25,625 31,250 38,500 42,000 33,750 29,700 14,70029,45057,800MERCHANDISE REVENUE75.00%25.00%Soft Goods Sales207,8636,375 5,363 10,350 1,706 22,425 19,219 23,438 28,875 31,500 25,313 22,275 11,025Hard Goods Sales69,2882,125 1,788 3,450 569 7,475 6,406 7,813 9,625 10,500 8,438 7,425 3,675 TOTAL MERCHANDISE REVENUE277,1508,500 7,150 13,800 2,275 29,900 25,625 31,250 38,500 42,000 33,750 29,700 14,700COST OF SALES55.97%55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97%COS - Merchandise (58%)160,7474,930 4,147 8,004 1,320 17,342 14,863 18,125 22,330 24,360 19,575 17,226 8,526Purchase Disc Taken - (5%)(8,037)(247) (207) (400) (66) (867) (743) (906) (1,117) (1,218) (979) (861) (426)Freight - Merchandise2,41174 62 120 20 260 223 272 335 365 294 258 128 TOTAL COST OF SALES155,1214,757 4,002 7,724 1,273 16,735 14,342 17,491 21,548 23,507 18,890 16,623 8,228GROSS PROFIT122,0293,743 3,148 6,076 1,002 13,165 11,283 13,759 16,952 18,493 14,860 13,077 6,472SALARIES AND BENEFITS9,4149,9938,7608,24810,87012,04213,52712,480Salaries and Wages150,2739,806 9,806 9,423 7,948 14,416 14,416 14,416 14,416 14,416 13,816 13,936 13,456Payroll Taxes 19,5351,275 1,275 1,225 1,033 1,874 1,874 1,874 1,874 1,874 1,796 1,812 1,749Workers' Compensation 5,635368 368 353 298 541 541 541 541 541 518 523 505Health Insurance/Benefits26,7961,740 1,740 1,740 2,088 2,436 2,436 2,436 2,436 2,436 2,436 2,436 2,436 TOTAL SALARIES AND BENEFITS202,24013,188 13,188 12,742 11,367 19,267 19,267 19,267 19,267 19,267 18,567 18,707 18,146SUPPLIES AND MATERIALSOTHER EXPENSESOffice Supplies 3,000250 250 250 250 250 250 250 250 250 250 250 250Dues and Subscriptions 2,3000 0 0 0 0 0 0 0 0 0 2,300Freight / Delivery 750 0 0 25 25 25 0 0 0 0 0 0Travel 900 0 0 0 0 0 15 1515151515Uniforms2,400100 100 100 100 300 200 500 200 200 200 200 200Telephone 1,320110 110 110 110 110 110 110 110 110 110 110 110Seminars / Training 3,690150 150 150 5000 100 1,250353535 1,25035Miscellaneous 6,000500 500 500 500 500 500 500 500 500 500 500 500 TOTAL OTHER EXPENSES18,8751,110 1,110 1,110 1,485 1,185 1,185 2,625 1,110 1,110 1,110 4,625 1,110 TOTAL EXPENSES221,11514,298 14,298 13,852 12,852 20,452 20,452 21,892 20,377 20,377 19,677 23,332 19,256TOTAL GOLF SHOP MERCHANDISE INCOME (LOSS) (99,086) (10,556) (11,150) (7,776) (11,850) (7,287) (9,169) (8,133) (3,425) (1,884) (4,816) (10,255) (12,784)Seminars/Training - Reimbursement for eligible golf shop employees (Director of Golf, Head Professional & 3 Assistant Golf Professionals) for PGA Training, Education and Travel Expenses. Office Supplies are made up of: Golf Cart Rental Agreements,Golf Club Rental Agreements, Gift Certificates & Merchandise BagsUniforms- Each Full-Time Emp receives (1) shirt per month11239 2018-2019 ANNUAL PLAN SilverRock ResortRUN DATE: 04-Apr-18 10:52 AMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementCARTS, BAGROOM & RANGE - 641TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITS7,540 6,574 8,506 4,181 9,821 11,246 12,697 13,780Salaries and Wages164,599 7,948 6,545 9,350 7,106 12,870 17,820 19,440 19,440 19,440 19,440 12,960 12,240Incentives \ Bonus 0Payroll Taxes 20,493989 815 1,164 885 1,602 2,219 2,420 2,4202,420 2,420 1,614 1,524Workers' Compensation 6,172298 245 351 266 483 668 729 729729 729 486 459Health Insurance/Benefits8,352696 696 696 696 696 696 696 696696 696 696 696 TOTAL SALARIES AND BENEFITS199,615 9,931 8,301 11,561 8,953 15,651 21,403 23,285 23,285 23,285 23,285 15,756 14,919153,00511,258 8,062 9,003 3,900 11,890 15,750 17,092 14,750 15,700 15,750 14,350 15,500SUPPLIES AND MATERIALSRange Expendable Supplies6,750600 600 150 150 1,800 150 1,000 1,000150 150 500 500Towel Replacement2,182120 120 120 120 185 195 250 250250 250 25072Bottled Water12,900100 4,400 100 100 200 100 100 7,000200 200 200 200Cart Supplies1,850000 500 500 500757550505050Range Balls9,0000000 9,0000000000 TOTAL SUPPLIES AND MATERIALS32,682 820 5,120 370 870 11,685 945 1,425 8,325650 650 1,000 822REPAIRS AND MAINTENANCEEquipment Repair - Golf3,600300 300 300 300 300 300 300 300300 300 300 300 TOTAL REPAIRS AND MAINTENANCE3,600 300 300 300 300 300 300 300 300300 300 300 300OTHER EXPENSESExpendable Supplies 52525 25 25 505050505050505050Printing / Stationary 420000000707070707070Cart Maintenance & Repairs 6,450500 500 500 950 500 500 500 500500 500 500 500Freight / Delivery 450757575757575000000Uniforms5,200000 2,000 500 500005000 1,500 200Fuel (Shuttles & Range Picker)3,00000 100 100 300 400 450 450450 450 200 100Laundry and Linen 9,600800 800 800 800 800 800 800 800800 800 800 800Miscellaneous 7,200600 600 600 600 600 600 600 600600 600 600 600 TOTAL OTHER EXPENSES32,845 2,000 2,000 2,100 4,575 2,825 2,925 2,470 2,4702,970 2,470 3,720 2,320 TOTAL EXPENSES268,742 13,051 15,721 14,331 14,698 30,461 25,573 27,480 34,380 27,205 26,705 20,776 18,361Expendable Supplies are made up of: - Scorecards, Tees, Pencils, Trash Bags,Cups & First Aid Supplies.Uniforms- Each employee receives 4 shirts, 1 hat per season12240 2018-2019 ANNUAL PLAN SilverRock ResortRUN DATE: 04-Apr-18 04:43 PMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementCOURSE SERVICES - 643TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITS1,850 1,400 2,590800 3,600 5,667 5,700 5,700Salaries and Wages70,1333,226 3,226 3,791 1,870 6,325 8,855 9,660 9,660 9,660 7,740 3,060 3,060Incentives \ Bonus 0000000000000Incentives \ Commission 0000000000000Payroll Taxes 9,117419419493243822 1,151 1,256 1,256 1,256 1,006398398Workers' Compensation 2,63012112114270237332362362362290115115 TOTAL SALARIES AND BENEFITS 81,8803,766 3,766 4,426 2,183 7,384 10,338 11,278 11,278 11,278 9,036 3,573 3,573SUPPLIES AND MATERIALSExpendable Supplies 1,05050 501001001001001001001001007575 TOTAL SUPPLIES AND MATERIALS 1,05050501001001001001001001001007575OTHER EXPENSESUniforms 2,12575 7575800752507575754007575Safety Equipment 600505050505050505050505050Miscellaneous 20000050505050000001 TOTAL OTHER EXPENSES2,926125125125900175350176125125450125125 TOTAL COURSE SERVICES EXPENSES85,8553,941 3,941 4,651 3,1837,659 10,788 11,554 11,503 11,503 9,586 3,773 3,773Expendable Supplies are made up of: Clipboards, Paper (starter sheets, ranger sheets), Towels, Trash BagsUniforms- Each employee receives 4 shirts, 1 hat per season13241 SilverRock ResortRUN DATE: 04-Apr-18 11:18 AMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITS52,273 51,473 52,759 52,975 52,476 54,246 60,398 55,245Salaries and Wages711,09553,484 53,484 51,759 62,723 60,700 62,723 62,723 56,653 62,723 60,700 62,723 60,700Overtime Hourly Wages 12,350000 12,35000000000Incentives \ Bonus 0000000000000Payroll Taxes 94,0486,953 6,953 6,729 9,759 7,891 8,154 8,154 7,365 8,154 7,891 8,154 7,891Workers' Compensation 26,9742,006 2,006 1,941 2,661 2,276 2,352 2,352 2,124 2,352 2,276 2,352 2,276Health Insurance/Benefits103,0207,425 7,425 7,425 7,425 9,165 9,165 9,165 9,165 9,165 9,165 9,165 9,165 TOTAL SALARIES AND BENEFITS947,48769,86869,86867,85494,91880,03282,39482,39475,30782,39480,03282,39480,032SUPPLIES AND MATERIALSFertilizer100,5205,870 2,100 9,880 29,560 10,650 8,820 3,000 3,020 3,370 10,270 3,350 10,630Flowers/Plants3,05000 1,000 2500 750 750 100 100 100Gas & Oils46,8603,200 3,450 3,850 4,750 4,850 4,150 3,570 3,880 3,880 3,850 3,850 3,580Golf Course Accessories13,140000 12,300000 1600 68000Chemicals & Pesticides17,760190 190 4,200 1,700 2,10000 190 190 3,100 2,200 3,700Herbicide25,5186,7820 3,620 7,65900 3,0330 1,61600 2,808POA Control9,90000 2,40000 7,500000000Sand/Mulch/Bunker13,460390 390 5,000 2,000 4,000 800 380 100 100 100 100 100Seed117,400000 105,500 11,9000000000Small Tools 5,000100 100 2,000 2,000 100 100 100 100 100 100 100 100Sod13,5004,300 3,500 1,0000000000 1,250 3,450Topdressing 10,0000 2,2000 2,200 2,60000000 1,500 1,5000 TOTAL SUPPLIES AND MATERIALS376,10820,83211,93032,950167,91936,20022,12010,8337,5509,35618,20012,35025,868REPAIRS AND MAINTENANCEBuildings & Bridges 5,5501,250 750 550 500 500 500 250 250 250 250 250 250Equipment38,5002,000 2,500 3,000 10,000 5,000 2,000 2,500 2,500 2,000 2,000 2,500 2,500Irrigation System 19,0504,400 3,500 1,500 2,000 900 550 1,200 1,000 1,000 1,000 1,000 1,000Pumps10,5001,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 5000Lake Maint Contract 46,2003,850 3,850 3,850 3,850 3,850 3,850 3,850 3,850 3,850 3,850 3,850 3,850Trees12,05000 5,500 5500000 2,000 4,00000 TOTAL REPAIRS AND MAINTENANCE131,85012,50011,60015,40017,90011,2507,9008,8008,60010,10012,1008,1007,6002018-2019 ANNUAL PLAN 14242 SilverRock ResortRUN DATE: 04-Apr-18 11:18 AMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2018-2019 ANNUAL PLAN OTHER EXPENSESContract Services Soil/Tissue Tests2,00000 1,0000000000 1,0000Dues and Subscriptions 6800000000 2000 3800 100Employee Education3,90050505050505050 1,000 2,400505050Equipment Rental 3,400200 150 150 1,000 600 200 200 200 200 200 200 100Auto Expense4,800400 400 400 400 400 400 400 400 400 400 400 400Licenses and Permits 4,30010000 25005000 1,000 2,90000Miscellaneous1,200100 100 100 100 100 100 100 100 100 100 100 100Supplies 4,350750 750 750 500 500 500 100 100 100 100 100 100Propane/Natural Gas 180151515151515151515151515Safety Equipment & Training3,850200 100 750 800 500 400 400 200 200 100 100 100Telephone/DSL10,200850 850 850 850 850 850 850 850 850 850 850 850Waste/Trash Removal6,288524 524 524 524 524 524 524 524 524 524 524 524Uniforms & Linen/Towels 11,040920 920 920 920 920 920 920 920 920 920 920 920 TOTAL OTHER EXPENSES56,1884,1093,8595,5095,4094,4594,0093,5594,5096,7096,5394,2593,259TOTAL MAINTENANCE EXP. (EXCL Landscaping)1,511,633107,30997,257121,713286,146131,941116,423105,58695,966108,559116,871107,103116,7594,500LANDSCAPE13,00012,20012,70013,10011,40013,80012,6009,600Wages156,528 13,334 13,334 12,904 12,904 12,904 13,334 13,334 12,004 13,334 12,904 13,334 12,904Overtime Hourly Wages 3,418 0 0 0 3,418 0 0 0 0 0 0 0 0Payroll Taxes 20,793 1,733 1,733 1,678 2,122 1,678 1,733 1,733 1,561 1,733 1,678 1,733 1,678Workers' Compensation 5,955 500 500 484 569 484 500 500 450 500 484 500 484Health Insurance/Benefits33,408 2,784 2,784 2,784 2,784 2,784 2,784 2,784 2,784 2,784 2,784 2,784 2,784Landscape Wages & Benefits220,10218,351 18,351 17,850 21,797 17,850 18,351 18,351 16,799 18,351 17,850 18,351 17,850Small Tools1,025 100 100 100 100 100 75 757575757575Repairs & Maintenance - Drip Irrigation4,250250 250 500 500 500 500 250 250 250 250 250 500Uniforms3,480290 290 290 290 290 290 290 290 290 290 290 290TOTAL LANDSCAPE MAINTENANCE228,857 18,991 18,991 18,740 22,687 18,740 19,216 18,966 17,414 18,966 18,465 18,966 18,715COURSE & LANDSCAPE MAINTENANCE TOTAL 1,740,490126,300 116,248 140,452 308,833 150,681 135,639 124,552 113,379 127,525 135,336 126,069 135,474(EXCL UTILITIES)WATER & ELECTRICITY COSTSWater Cost70,04710,150 8,990 8,932 6,090 4,719 7,685 2,697 2,132 2,247 2,247 4,719 9,439Maint. Shop / So Village Lakes35,6003,200 2,300 2,300 2,300 2,500 2,000 5,000 3,000 3,000 4,000 3,000 3,000Main Meter (FE, PH, CB, CH, NV Lakes)143,10010,000 11,500 11,500 9,200 8,000 7,000 10,000 12,000 12,000 15,400 18,000 18,500Well 1,091652015 650 1509016165171730 TOTAL WATER AND ELECTRIC COST249,83823,415 22,810 22,747 18,240 15,369 16,775 17,713 17,148 17,252 21,664 25,736 30,969 TOTAL COURSE MAINTENANCE EXPENSES1,990,328149,715139,058163,199327,073166,050152,414142,265130,527144,777157,000151,805166,44315243 SilverRock ResortRUN DATE: 04-Apr-18 04:43 PMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementG & A DEPARTMENT - 67TOTALJUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITSSalaries and Wages210,79616,266 16,866 16,266 16,866 18,066 18,066 18,066 18,066 18,066 18,066 18,066 18,066Payroll Taxes 27,4042,115 2,193 2,115 2,193 2,349 2,349 2,349 2,349 2,349 2,349 2,349 2,349Workers' Compensation 7,905610 632 610 632 677 677 677 677 677 677 677 677Health Insurance/Benefits18,1081,509 1,509 1,509 1,509 1,509 1,509 1,509 1,509 1,509 1,509 1,509 1,509 TOTAL SALARIES AND BENEFITS264,21320,500 21,200 20,500 21,200 22,601 22,601 22,601 22,601 22,601 22,601 22,601 22,601REPAIRS AND MAINTENANCEEquipment Repair 1,9000 100 100 100 900 100 100 100 100 100 100 100TOTAL REPAIRS AND MAINTENANCE1,9000 100 100 100 900 100 100 100 100 100 100 100OTHER EXPENSESOffice Supplies 1,260105 105 105 105 105 105 105 105 105 105 105 105Printing / Stationary 3,300100 100 100 100 100 400 400 400 400 400 400 400Postage 90075 75 75757575757575757575Recruiting / Relocation 1,20000 150 150 150 200 150 200 200000Dues and Subscriptions 1,150500 200505050 100 2005050 30050Freight / Delivery 600505050505050505050505050Travel 1,1000 10000000 1000 200 500 200Promotion 1,200100 100 100 100 100 100 100 100 100 100 100 100Auto Expense 6,000500 500 500 500 500 500 500 500 500 500 500 500Equipment Rental (Copier/Storage) 6,600550 550 550 550 550 550 550 550 550 550 550 550Uniforms 1,050757575 150 15075757575757575Professional Fees (I.T. & Safety Fees)10,200850 850 850 850 850 850 850 850 850 850 850 850Seminars / Training 2,400200 200 200 200 200 200 200 200 200 200 200 200Payroll Processing12,0001,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000Computer Supplies (POS Support Fees)6,300500 500 500 500 500 500 500 500 500 500 500 800Bank & ADP Fees1,080909090909090909090909090Miscellaneous 6,600100 100 100 100 2,600 3,000 100 100 100 100 100 100 TOTAL OTHER EXPENSES62,9404,345 4,395 4,645 4,570 7,070 7,745 4,845 5,095 4,845 4,845 5,395 5,145TOTAL G & A EXPENSES329,05324,845 25,695 25,245 25,870 30,571 30,446 27,546 27,796 27,546 27,546 28,096 27,846Uniforms- Benefit to be shared between GM & ControllerEntertainment & Promotion - GM promoting property for potential clients2018-2019 ANNUAL PLAN 16244 2018-2019 ANNUAL PLAN SilverRock ResortMARKETING 04-Apr-18 10:52 AMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementMARKETING DEPARTMENT - 66TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITSSalaries and Wages30,0962,508 2,508 2,508 2,508 2,508 2,508 2,508 2,508 2,508 2,508 2,508 2,508Payroll Taxes 3,912326 326 326 326 326 326 326 326 326 326 326 326Workers' Compensation 1,12994 94 94 949494949494949494Health Insurance/Benefits4,176348 348 348 348 348 348 348 348 348 348 348 348 TOTAL SALARIES AND BENEFITS39,3133,276 3,276 3,276 3,276 3,276 3,276 3,276 3,276 3,276 3,276 3,276 3,276OTHER EXPENSESOffice Supplies 1,200100 100 100 100 100 100 100 100 100 100 100 100Printing / Stationary 4,4250 0 200 3,000 200 200 200 125 125 125 125 125Postage 60050 50 50 505050505050505050Contract Services Web Page 1,800150 150 150 150 150 150 150 150 150 150 150 150Dues and Subscriptions 73500000035 400 300000Uniforms 600000 30050505050505000Telephone 1,200100 100 100 100 100 100 100 100 100 100 100 100Civic, Community and Trade Show 2,25075757575 750 750757575757575Public Relations1,000000000 500 5000000Promotions / Meals 300252525252525252525252525Promotion - (Media, Vendor Days, etc)7000 0 0505050 3005050505050Advertising (Ad Purchases) 169,9873,745 3,745 10,697 13,322 26,175 22,225 20,967 18,612 18,980 18,230 7,912 5,377Collateral Material - (Yrd Bks, Rack Cds, Statn, Brochures)5,500000 500 1,0000 500 500 500 500 1,000 1,000Miscellaneous350000050505050505050 TOTAL OTHER EXPENSES190,647 4,245 4,245 11,397 17,672 28,700 23,750 23,102 20,787 20,555 19,505 9,637 7,052 TOTAL MARKETING EXPENSES229,960 7,521 7,521 14,673 20,948 31,976 27,026 26,378 24,063 23,831 22,781 12,913 10,328Promotion/Meals - Off property events (Chamber Mixers, Rotaries andentertaining potential clients)Promotion/Media/Vendor Days - Radio/TV Onsite Broadcasting.Vendor Days - Show casing property in exchange for positive publicity17245 SilverRock ResortMARKETING 10-Apr-18 12:57 PMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementTEMPORARY CLUBHOUSE - 800TOTALJUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SUPPLIES AND MATERIALSExpendable Supplies 2,400200200200200200200200200200200200200Laundry Supplies 2,400200200200200200200200200200200200200 TOTAL SUPPLIES AND MATERIALS4,800400400400400400400400400400400400400REPAIRS AND MAINTENANCEBuilding Structures 3,600300300300300300300300300300300300300Restaurant Repairs 4,800400400400400400400400400400400400400Equipment Repair 4,800400400400400400400400400400400400400 TOTAL REPAIRS AND MAINTENANCE13,2001,1001,1001,1001,1001,1001,1001,1001,1001,1001,1001,1001,100OTHER EXPENSESContract Services Cleaning 22,5001,8251,8251,8252,4251,8251,8251,8251,8251,8251,8251,8251,825Telephone 13,8001,150 1,150 1,150 1,150 1,150 1,150 1,150 1,150 1,150 1,150 1,150 1,150Cable-Roadrunner4,560380380380380380380380380380380380380Water 3,852321321321321321321321321321321321321Safety Equipment 1,200100100100100100100100100100100100100Natural Gas 3,600300300300300300300300300300300300300Flowers and Decorations 1,90000050000500050000400Building Security (Roving Patrol)60,0005,0005,0005,0005,0005,0005,0005,0005,0005,0005,0005,0005,000Miscellaneous 7,0002002002002002,5002002002002,500200200200 TOTAL OTHER EXPENSES118,4129,2769,2769,27610,37611,5769,2769,7769,27612,0769,2769,2769,676 TOTAL CLUBHOUSE EXPENSES136,41210,77610,77610,77611,87613,07610,77611,27610,77613,57610,77610,77611,176Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats,Items related to Maintenance of Clubhouse2018-2019 ANNUAL PLAN 18246 SilverRock ResortRUN DATE: 10-Apr-18 12:57 PMProjections - July 2018 to June 2019PREPARED BY: Landmark Golf ManagementMISC. DEPARTMENT - 980 & 990TOTALJUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.12,5007,500MISC OTHER EXPENSESManagement Fee - Fixed114,0009,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500FF&E Reserve (2.0%)68,0261,499 1,340 2,438 5507,062 6,220 8,424 11,056 11,942 8,080 6,317 3,099General Liability Insurance48,0004,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000Personal Property Taxes 11,8005,2000 4,000 2,60000000000241,826 20,199 14,840 19,938 16,650 20,562 19,720 21,924 24,556 25,442 21,580 19,817 16,599LEASE EXPENSESGolf Cart Leases121,05010,050 10,050 10,050 10,500 10,050 10,050 10,050 10,050 10,050 10,050 10,050 10,050Trailer Leases7,200600 600 600 600 600 600 600 600600 600 600 600Golf Course Maintenance Lease114,0009,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500GPS Lease (Up-Link)46,8003,900 3,900 3,900 3,900 3,900 3,900 3,900 3,900 3,900 3,900 3,900 3,900Equipment Rental Other20,2001,150 1,150 1,150 1,150 1,950 1,950 1,950 1,950 1,950 1,950 1,950 1,950309,250 25,200 25,200 25,200 25,650 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,0002018-2019 ANNUAL PLAN 19247 2018-2019 Annual BudgetRUN DATE: 04-Apr-18 10:56 AMPREPARED BY: Landmark Golf ManagementFOOD & BEVERAGE DEPT - 62TOTALJUL.AUG.SEP.OCT.NOV.DEC.JAN.FEB.MAR.APR.MAYJUN.FOOD REVENUESnack Shop/Terrace Food216,8527,5006,18811,8131,12519,86917,45623,00039,60848,80019,14415,0007,350Beverage Cart Food48,4502,5002,2503,3756757,0133,6753,5946,1897,6255,1054,0002,450Other Food Income0000000Non-Taxable Tournament Site Fees0000000000000Special Events12,0000003,0003,00000003,0003,0000 TOTAL FOOD REVENUE277,30210,0008,43815,1884,80029,88121,13126,59445,79756,42527,24922,0009,8009,2547,06317,9722,62132,20520,94630,37729,047BEVERAGE REVENUESnack Shop/Terrace Beer & Wine63,3062,4002,0254,0504506,3114,9618,1949,65410,0658,4234,2002,573Snack Shop/Terrace Sodas42,2041,6001,3502,7003004,2083,3085,4636,4366,7105,6162,8001,715Beverage Cart Beer & Wine66,4422,0002,2503,3753009,3506,8914,6727,4279,1508,9347,5004,594Beverage Cart Sodas66,4422,0002,2503,3753009,3506,8914,6727,4279,1508,9347,5004,594 TOTAL BEVERAGE REVENUE238,3948,0007,87513,5001,35029,21922,05023,00030,94435,07531,90622,00013,4757,1745,78012,2091,93915,38512,17523,90524,530 TOTAL FOOD & BEVERAGE REVENUE515,69618,00016,31328,6886,15059,10043,18149,59476,74191,50059,15544,00023,275LESS COST OF SALES77.58%COS - Food (37%)100,3823,7003,1225,6191,77611,0567,8199,84016,94520,8778,9727,0303,626COS - Beer & Wine (25%)32,4371,1001,0691,8561883,9152,9633,2164,2704,8044,3392,9251,792COS - Sodas (27%)29,3349729721,6401623,6612,7532,7363,7434,2823,9282,7811,703COS- Employee Meals22,8001,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 TOTAL COST OF SALES184,9537,6727,06311,0164,02620,53215,43517,69226,85831,86319,14014,6369,02135.86%GROSS PROFIT330,742 10,328 9,250 17,672 2,125 38,568 27,746 31,901 49,883 59,637 40,015 29,364 14,254SALARIES AND BENEFITSSalaries and Wages204,33115,95615,95617,3368,82517,21617,42619,50118,36619,50118,51218,00017,736Payroll Taxes 23,3961,8271,8271,9851,0101,9711,9952,2332,1032,2332,1202,0612,031Workers' Compensation 8,418657657714364709718803757803763742731Health Insurance 38,3962,9792,9792,9793,3103,3103,3103,3103,3103,3103,3103,3102,979 TOTAL SALARIES AND BENEFITS274,54121,41921,41923,01413,50923,20623,44925,84824,53625,84824,70524,11223,476SUPPLIES AND MATERIALSExpendable Supplies 4,000300300300300200400400400400400300300Bar Utensils 1,250150100100100100100100100100100100100Menus, Napkins and Placemats 3,825175175175500250250550350350350350350 TOTAL SUPPLIES AND MATERIALS9,0756255755759005507501,050850850850750750REPAIRS AND MAINTENANCEEquipment Repair 3,000250250250250250250250250250250250250 TOTAL REPAIRS AND MAINTENANCE3,000250250250250250250250250250250250250OTHER EXPENSESOffice Supplies 1,500100100100250250100100100100100100100Phone840707070707070707070707070Equipment Rental 1,29410910910995109109109109109109109109Non-Capital Equipment 600505050505050505050505050Uniforms 3,4001501501501,000150500150150150550150150Laundry and Linen 5,975525525525200525525525525525525525525Lease Payment12,0005005005001,5001,5001,5001,5001,5001,500500500500Bank Fees6,240520520520520520520520520520520520520Seminars / Training 27525252525025252525252525Cleaning Supplies 3,596250250250250250250346350350350350350Flowers and Decorations2,606100100100206300300300250250300200200Licenses and Permits 1,800090000009000000Miscellaneous4,000300300300400400400300400300300300300 TOTAL OTHER EXPENSES44,1262,6993,5992,6994,5664,1244,3494,8954,0493,9493,3992,8992,899 TOTAL EXPENSES330,74224,99325,84326,53819,22528,13028,79832,04329,68530,89729,20428,01127,375 TOTAL FOOD & BEVERAGE PROFIT (Loss)0(14,665)(16,593)(8,866)(17,101)10,438(1,052)(141)20,19828,74010,8121,353(13,121)Supplies Expendable is made up of: Smallwares, Papergoods, First-aidUniforms- Each employee receives 4 shirts, 1 hat per season2018-2019 Annual Budget20248 SilverRock Resort 2018-2019 Marketing Plan Narrative OBJECTIVE: Continue to expand brand awareness for SilverRock Resort, promote the Arnold Palmer Classic Course as a premier golf course in the Coachella Valley and increase golf and golf-related revenues. The 2018-2019 Marketing Plan is built around an annual Marketing Budget of $229,960. The Marketing Plan includes: print advertising, TV & radio, digital marketing, social media, collateral materials, civic and community networking, public relations, golf/consumer trade shows, internet websites and e-mail marketing. PRINT ADVERTISING Print advertising is targeted for Coachella Valley Residents and tourist/resort golfers in local, regional and Southern California golf and travel publications. Print advertising consists of local newspaper, golf and travel magazines and regional directories. All print advertising now includes a digital component that is included in each buy. Newspaper advertising is placed in The Desert Sun with primary emphasis on “digital ads” appearing on the Desert Sun website, mobile and App. Special promotions are designed, as needed by season, and placed in various digital arenas. Magazines consist of local and regional magazines such as Palm Springs Life, Golf News Magazine, Desert Golf & Tennis, Locale Magazine, Southland Golf Magazine, Alaska Airlines, Golfing Palm Springs, and Desert Golfing Digest. These ads vary from full page to quarter page ads and are full color. TV & RADIO Television commercials (30 seconds) are placed on all three (3) local network affiliates (CBS2, KESQ3-ABC, KMIR6-NBC) and Time Warner cable stations. Local radio is used for 30- second spots and specific promotions. They are usually aired in offseason and summer months. A new 30 second TV commercial will be filmed this Fall 2018. IN ROOM MEDIA In conjunction with the Travelers Channel, currently the SilverRock commercial is showcasing in 18 local hotels representing over 3,500 hotel rooms throughout the Coachella Valley. The Travelers Channel operates in each hotel, and becomes the hotels local in room concierge. The Travelers Channel primary goal is to visually promote the local area, points of interest, history, services, restaurants, shopping, and to help visitors enjoy their stay. DIGITAL MARKETING SilverRock will continue to partner with JNS Media and Madden Media with digital marketing. The marketing plan includes website display banners through the geo target channels like ESPN LA, GolfChannel.com, PGA.com, SCGA.com, and anyone searching keywords such as Golf, Best Golf Courses, Tee Times in Greater Palm Springs/La Quinta 21 249 producing 10 million impressions. Included in this 2018-2019 Marketing Plan is an ongoing partnership to continue a strong presence in the digital marketing sector. SOCIAL MEDIA, APPS, & MOBILE WEBSITES Social media has proven to be a very successful, powerful and cost effective method of promoting SilverRock. There will be a continued effort and focus on social media including enhancing SilverRock’s Facebook “fan base” which has generated over 20,000 likes and has been very effective way of communicating SilverRock’s news and information. Increased presence will continue this year on Facebook, Twitter, Yelp, Greenskeeper.org and YouTube. These methods of advertising and promotion are truly cost effective as they have minimal costs or no cost at all associated with these marketing avenues. On Average, 60% of all tee times are now booked online; a continued emphasis on the mobile website booking interface that allows visitors to navigate SilverRock’s website more efficiently and effectively will again be a priority for 2018-2019. SilverRock’s website is a responsive website which allows any user with a PC, tablet or mobile phone to navigate the SilverRock website. SilverRock’s free App is available on both Droid and iPhones and will continue to be promoted and updated. COLLATERAL MATERIALS Rack cards, scorecards, and information packets presenting SilverRock Resort are used as marketing tools for SilverRock Resort. Printed material will be produced, as needed, to promote SilverRock Resort as a former Home Course of the Bob Hope Classic 2008-2011. CIVIC AND COMMUNITY NETWORKING AND TRADESHOWS SilverRock Resort is positioned as a community-friendly golf facility and is committed to developing strong relationships with community organizations such as the La Quinta Chamber of Commerce and various local service organizations. At various venues locally and around Southern California, trade shows and expos are held that provide an opportunity to promote SilverRock Resort. These trade shows and expos are focused on tourism, golf and golf equipment/apparel, recreation, weddings and other related industries and businesses. SilverRock will continue to participate in these trade shows. TOURNAMENTS & GROUP OUTINGS A continued concentrated effort to attract corporate and group outings will be positioned through various networking opportunities. Tournament business represents a large portion of outside play and is an important component of SilverRock’s success. JUNIOR GOLF SilverRock will continue to support local Junior Golf by offering various Summer Junior Camps, Junior Rates and being a host course for the La Quinta High School Boys and Girls Golf Teams. SilverRock will also continue to participate in SCGA’s Youth on Course program which will provide juniors in Southern California another avenue to get access to golf courses at affordable green fees. 22 250 4/4/2018SilverRock Resort-Arnold Palmer Classic CourseGOLF RATES 2018-20192018201820182018201820182019201920192019Reservation TypeJuly 1-Sept. 11July 1-Sept. 11Sept. 12-Oct. 7 Sept. 12-Oct.7 Nov. 6-Dec. 25 Nov. 6-Dec. 25 Dec. 26-Apr. 30 Dec. 26-Apr. 30 May 1-June 30 May 1-June 30(Book 90 Days) Mon-ThursFri-Sun Mon-ThursFri-Sun Mon-ThursFri-Sun Mon-ThursFri-Sun Mon-ThursFri-SunPublic 50.00$ 65.00$ 85.00$ 100.00$ 130.00$ 130.00$ 170.00$ 170.00$ 90.00$ 110.00$ Public Twi45.00$ 55.00$ 70.00$ 80.00$ 85.00$ 85.00$ 100.00$ 100.00$ 70.00$ 80.00$ Replay (Booked After Rnd) 25.00$ 25.00$ 35.00$ 35.00$ 50.00$ 50.00$ 50.00$ 50.00$ 35.00$ 35.00$ (Book 3 Days)La Quinta Resident33.00$ 33.00$ 33.00$ 33.00$ 49.00$ 49.00$ 60.00$ 60.00$ 49.00$ 49.00$ La Quinta Resident Guest (30% off posted rate)33.00$ 33.00$ 59.50$ 70.00$ 91.00$ 91.00$ 119.00$ 119.00$ 63.00$ 77.00$ (Book 90 Days)Wholesale40.00$ 50.00$ 75.00$ 85.00$ 105.00$ 105.00$ 140.00$ 140.00$ 65.00$ 75.00$ Wholesale Twilight35.00$ 40.00$ 55.00$ 65.00$ 70.00$ 70.00$ 80.00$ 80.00$ 45.00$ 55.00$ (Book 1 Day)PGA PAID25.00$ 25.00$ 25.00$ 25.00$ 35.00$ 35.00$ 35.00$ 35.00$ 25.00$ 25.00$ Junior Rate (Before 2:00 p.m.)25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ 25.00$ Junior Rate (After 2:00 p.m.)10.00$ 10.00$ 15.00$ 15.00$ 15.00$ 15.00$ 15.00$ 15.00$ 15.00$ 15.00$ (Book Up to 1 Year)Groups (13+)Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates*Juniors are 17 and under*All rates to include green fee, golf cart, limited amount of range balls prior to round, except golf cart for Juniors*Non golfers-ride alongs-must abide by dress code, riders permitted based upon availability at a rate of $25 per rider.*City Employees-Prevailing Resident RatesOTHER FEESRate/Fee1 Hour Resident10.00$ 1 Hour Non- Resident 15.00$ All Day Range Fee25.00$ Rental Clubs45.00$ Handicap Membership45.00$ (Overseeding Dates: Course Closed Oct. 3-31, 2011)Shaded areas represent dynamic pricing.23251 252 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE FIRST AMENDMENT TO GOLF COURSE MANAGEMENT AGREEMENT WITH LANDMARK GOLF MANAGEMENT LLP FOR SILVERROCK GOLF COURSE MANAGEMENT SERVICES RECOMMENDATION Approve the First Amendment to Golf Course Management Agreement with Landmark Golf for SilverRock golf course management services for a one-year term; and authorize the City Manager to execute the Amendment. EXECUTIVE SUMMARY •The five-year Golf Course Management Agreement (Agreement) with Landmark Golf Management LLC (Landmark) will expire on June 30, 2018. •The First Amendment (Amendment) (Attachment 1) would provide a one-year extension with an option for four additional one-year extensions. FISCAL IMPACT The golf course management fee is $114,000, which would be included in the proposed 2018-19 SilverRock Resort Annual Plan and budget (601-0000-60208). BACKGROUND/ANALYSIS In July 2013, Council approved the Agreement; the Agreement expires on June 30, 2018. This Amendment extends the Agreement for one year, and includes an option to renew for four additional one-year extensions. The City may terminate the Agreement, without penalty or cause, on any date after June 30, 2019 with a minimum sixty-day notice. As SilverRock Development Company proceeds to develop the hotels and conference center Landmark is best suited to manage course operations and maintenance, and the food and beverage service. Landmark understands these operations and this knowledge will accommodate the adjustments necessary to facilitate construction. ALTERNATIVES No alternatives are recommended. Prepared by: Steve Howlett, Facilities Director Approved by: Frank Spevacek, City Manager Attachment: 1. First Amendment to Golf Course Management Agreement BUSINESS SESSION ITEM NO. 4 253 254 FIRST AMENDMENT TO GOLF COURSE MANAGEMENT AGREEMENT This FIRST AMENDMENT TO GOLF COURSE MANAGEMENT AGREEMENT (the “First Amendment”) is made and entered as of July 1, 2018 (the “Effective Date”) by and between the City of La Quinta, a public body (the “City”), and Landmark Golf Management, LLC (the “Manager”), both of whom understand as follows: WITNESSETH WHEREAS, the parties entered into a Golf Course Management Agreement effective July 1, 2013 to June 30, 2018 (“Original Agreement”); and WHEREAS, the parties desire to amend the Original Agreement as provided herein. NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows: Section 2.2 of the Original Agreement is amended to: 2.2 Management Term. The Management Term shall commence July 1, 2018. The Management Term and this Agreement shall end on June 30, 2019. The City has the option to renew the contract for four (4) additional one-year extensions. However, the Management Term may be terminated by the City, in its sole discretion, without penalty or cause if such termination is deemed necessary in the reasonable opinion of Bond Counsel to maintain the tax exempt status of municipal bonds issued to fund a portion of the Golf Course pursuant to Section 1.141-3(b)(4) of the Regulations promulgated pursuant to the Internal Revenue Code of 1986, as amended, Revenue Proclamation 97-13, Revenue Proclamation 2001-31 and other relevant statutes, regulations and proclamations. Section 4.1.1 of the Original Agreement is amended to: 4.1.1 Management Fee. Manager shall receive from City an annual Management Fee in the amount of One Hundred Fourteen Thousand Dollars ($114,000) until expiration of the Agreement. The annual Management Fee shall be payable in arrears in twelve monthly installments, payable by City each month within thirty (30) business days of receipt of an invoice for same from Manager (subject to any extensions as may be required for approval of warrants by the City Council, if applicable). Section 8.1 of the Original Agreement is amended to include: 8.1 Termination by City. The Management Term may be terminated by the City, in its sole discretion, without penalty or cause on any date after June 30, 2019 with a minimum sixty (60) day prior Written Notice of early termination provided by the City Manager to Landmark Golf Management. 255 IN WITNESS WHEREOF, the City of La Quinta has caused this First Amendment to be signed and executed on its behalf by the City Manager and Landmark Golf Management, LLC and executed this First Amendment, both in duplicate, to become effective as of the Effective Date. CITY OF LA QUINTA By:_________________________________ Frank Spevacek, City Manager ATTEST: _______________________________________ Monika Radeva, Deputy City Clerk City of La Quinta, California (City Seal) APPROVED AS TO FORM: _______________________________________ William H. Ihrke, City Attorney City of La Quinta, California LANDMARK GOLF MANAGEMENT, LLC By:_________________________________ ____________________________________ 256 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE AGREEMENT FOR CONTRACT SERVICES WITH NAI CONSULTING, INC. FOR PROJECT MANAGEMENT AND CONTRACT ADMINISTRATIVE SUPPORT SERVICES RECOMMENDATION Approve a one-year agreement for contract services with NAI Consulting, Inc. in an amount not to exceed $487,455, for project management and contract administrative support services; and authorize City Manager to execute the agreement. EXECUTIVE SUMMARY NAI Consulting, Inc. (NAI) provides project management and contract administrative support related to the City’s Capital Improvement Program (CIP), which includes State, Federal, and CDBG funded projects. The existing agreement expires on June 30, 2018, but the approved funds were expended as of May 1, 2018; the one-year extension would start May 1, 2018. Staff recommends entering into a one-year Agreement for Contract Services (Agreement) with NAI due to their superior qualifications and comprehensive knowledge of City operations. FISCAL IMPACT The Agreement is for time and materials not to exceed $487,500. Funds for the remainder of 2017/18 would come from engineering contract savings. Funds for 2018/19 would come from CIP project budgets, and the Engineering Services Consultants Account (101- 7006-60104) for special projects, such as preparing the City’s Maintenance of Effort or updating Development Impact Fees. BACKGROUND/ANALYSIS NAI is a local firm that has provided the City with contract project management, project design, and State and Federal funding administration services since 1997. NAI provides specialized technical expertise that staff does not have or expertise that the City did not need on a full-time basis. The 2017/18 budget for NAI’s services was expended by May 1, 2018 (due to the reduction of a Principal Engineer position combined with an increasing number of capital improvement projects, which increased the need for NAI’s services). In order to ensure BUSINESS SESSION ITEM NO. 5 257 continuous service delivery, the Agreement has a May 1, 2018 start date, and would run for one year through April 30, 2019. There is no renewal option and the City may terminate the Agreement with a 30-day written notice.. The City may add or deduct work as necessary, depending on the number and scope of CIP projects. When the Council approved reorganizing the Engineering and Capital Improvement Program (CIP) functions, staff recommended that the City provide a majority of these services with in-house staff. Two engineer positions were approved and recruitment is underway. When this personnel is on-boarded, the need for NAI’s services will decrease; while staff cannot present an estimate of the reduced work program and cost at this time, staff will provide the Council quarterly updates regarding contract service costs as part of the quarterly operating and CIP budget reviews. This transition from contract to in-house engineering and CIP services is also the reason why this is a one-year contract renewal. ALTERNATIVES The City could elect to bid for these services, which may delay implementing CIP projects. Prepared by: Bryan McKinney, P.E., City Engineer Approved by: Frank Spevacek, City Manager Attachment 1: Agreement for Contract Services 258 ATTACHMENT 1 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: APPROVE THIRD AMENDMENT AND RESTATEMENT OF JOINT POWERS AGREEMENT OF THE COACHELLA VALLEY ASSOCIATION OF GOVERNMENTS RECOMMENDATION Approve the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments and authorize the City Manager to execute the agreement. EXECUTIVE SUMMARY •The City of La Quinta has been a member of the Coachella Valley Association of Governments (CVAG) since 1989. •Through CVAG, the City has participated in regional-oriented transportation, air quality, homeless shelter, and environmental planning, funding and project implementation activities. •On April 30, 2018, the CVAG Executive Committee approved a third amendment to the Joint Powers Agreement for CVAG (Agreement), which facilitates membership of the Agua Caliente Band of Cahuilla Indians and the Cabazon Band of Mission Indians (Tribes), further limits CVAG’s eminent domain authority, defines the Tribes’ financial contribution, outlines member withdrawal terms, modifies language to accommodate the Tribes’ membership, and updates/clarifies language. FISCAL IMPACT – None. BACKGROUND/ANALYSIS CVAG Executive Committee has been working to add the tribes of the Agua Caliente Band of Cahuilla Indians and Cabazon Band of Mission Indians as member entities of CVAG. The existing JPA anticipated other entities may wish to join CVAG and this request is consistent with JPA’s principles. The Agreement was initially reviewed and approved by CVAG’s Executive Committee on February 26, 2018. Subsequently, certain member agencies raised concerns regarding the use of implementation agreements and whether or not the Agreement could be adopted by a majority versus a two-thirds vote. Further revisions were made to address BUSINESS SESSION ITEM NO. 6 293 these concerns, and the Executive Committee approved the Agreement at its April 30, 2018, meeting. Attachment 1 presents a blue-lined version of the Agreement; significant modifications include: • Introduction: Adds the Tribes as CVAG members. • Recitals: Further details the public interests CVAG serves. • Section 1.2.2: Provides that if CVAG must use eminent domain to acquire property, the exercise of eminent domain is subject to veto by the jurisdiction within whose boundaries eminent domain is being exercised (the existing JPA limits the veto authority to only CVAG-sponsored transportation projects). • Section 1.2.3: Outlines the State Codes under which CVAG may operate. • Section 1.2.4: Provides for Implementation Agreements (to implement, manage, and administer area-wide and regional programs; however, CVAG has yet to use an Implementation Agreement during its 45 year history) (moved from Section VIII, which is now MISCELLANEOUS), and clearly states that CVAG cannot execute any Implementation Agreement without the express approval of each affected member agency. • Section 2.4.5: States that Executive Committee Members and alternates receive no compensation but may be reimbursed for expenses incurred in connection with their Executive Committee service. • Section 3.4 Contributions/Public Funds: Sets the Tribes’ contributions at an amount equal to the lowest contribution assessed against any single CVAG member jurisdiction. • Section 3.5 Control and Investment of CVAG Funds: Requires the Governing Board to adopt a policy for the control and investment of CVAG funds. • Section 4.4 Blythe Transportation Funds: Provides that Coachella Valley and Blythe/Palo Verde Valley transportation-related funds shall not be comingled without the approval of two-thirds vote of the Executive Committee. • Section 6.2 Admission of the City of Blythe: The current language is deleted since the City of Blythe is a CVAG member. • Section 6.2 Withdrawal from CVAG: Section 6.2.D was removed – no longer including the 90-day clause from its members to approve the Agreement. • Section VIII IMPLEMENTATION AGREEMENTS: Eliminated since the contents were moved to Section 1.2.4 (now MISCELLANEOUS). • Section 8.1 Amendments: The initial revision stated that the Agreement could be approved by a majority vote, which has been changed to two-thirds vote. • Section 8.3 Effective Date: This section now states the Agreement can be executed by a two-thirds vote. • Section 8.5 Limited Waiver of Sovereign Immunity: Outlines the means to resolve disputes between the Tribes and the other non-sovereign parties to the Third Amended JPA (the Cities and the County). CVAG is circulating the Agreement for members’ approval. 294 ALTERNATIVES Council may elect not to approve this amendment; or provide alternative direction to staff. Prepared by: Monika Radeva, Deputy City Clerk Approved by: Frank J. Spevacek, City Manager Attachment: 1. Redline Version of the Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Government 295 296 THIRDSECOND AMENDMENT AND RESTATEMENT OF THE JOINT POWERS AGREEMENT OF THE COACHELLA VALLEY ASSOCIATION OF GOVERNMENTS This Third Amendment and Restatement of the Joint Powers Agreement of the Coachella Valley Association of Governments (“Agreement”)This Agreement is intended to be a restatement and amendment of the Joint Powers Agreement Formation of the Coachella Valley Association of Governments entered into on or about November 1973, and amended on or about June 26, 1989. This Agreement is made and entered into on the __ day of _______, 2018 16th day of June 1998 pursuant to Government Code Section 6500 et seq. and other pertinent provisions of law, by and between s o m e o r a l l o f the following public agencies: (a) County of Riverside (b) City of Coachella (c) City of Indio (d) City of La Quinta (e) City of Indian Wells (f) City of Palm Desert (g) City of Rancho Mirage (h) City of Cathedral City (i) City of Palm Springs (j) City of Desert Hot Springs (k) City of Blythe (l) Agua Caliente Band of Cahuilla Indians (m) Cabazon Band of Mission Indians RECITALS ATTACHMENT 1 297 A. Each member and party to this Agreement is a governmental entity “public agency” as that term is defined in Government Code Section 6500 established by law with full powers of government in legislative, administrative, financial, and other related fields. B. The Coachella Valley Association of Governments ("CVAG") was formed in 1973 so that its members might coordinate and improve the planning and delivery of governmental responsibilities common to all the member entities within the local region. C. The public interest requires that a multijurisdictional agency in the Coachella Valley explore areas of inter-governmental cooperation and coordination of government programs and provide recommendations and solutions to problems of common and general concern to its members; D. The public interest requires that an agency with the aforementioned goals not possess the authority to compel any of its members to conduct any activities or implement any plans or strategies that they do not wish to undertake (except for the payment of dues, if any); E. Each member, by and through its legislative body, has determined that a multijurisdictional organization to assist in planning and voluntary coordination among the public agencies in the Coachella Valley is required in furtherance of the public interest, necessity and convenience; F. Each member, by and through its legislative body, has independently determined that the public interest, convenience and necessity require the execution of this Agreement by and on behalf of each such member; and G. The purpose of this Third Amendment and Restatement is to update the existing joint powers agreement for the continuing and ongoing operation of CVAG. 298 B.H. Incorporation of Recitals: The parties understand and agree that the foregoing recitals are true and correct, and that the recitals are incorporated herein and made a part of this Agreement. The original members contemplated that other public entities might wish to become parties of CVAG. To that end, the original Joint Powers Agreement and the First Amendment thereto provided for the admission of additional Coachella Valley public entities. While the original member Cities are located within the Coachella Valley, the parties recognize that other public entities within the Riverside County desert area can contribute to and benefit from CVAG's efforts. Accordingly, the members now seek to widen the scope of participation in CVAG to include other public entities and tribes within the area. Specifically, the parties desire that the city of Blythe be admitted as a member of CVAG. Prior to admission hereunder, Blythe was the only city in Riverside County not affiliated with either CVAG or WRCOG. NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: I. PURPOSE AND POWERS 1.1. Agency Created. There is hereby created a public entity to be known as the "Coachella Valley Association of Governments." ("CVAG"). CVAG is formed by this Agreement pursuant to the 299 provisions of Government Code Section 6500 et seq. and other pertinent provisions of law. CVAG shall be a public entity separate from the parties hereto. 1.2. Powers. 1.2.1. CVAG established hereunder shall perform all necessary functions to fulfill the purposes of this Agreement. Among other functions, CVAG shall: a. Serve as a forum for consideration, study, and recommendation on area- wide and regional problems; b. Assemble information helpful in the consideration of problems peculiar to the desert regions; c. Explore practical avenues for intergovernmental cooperation, coordination, and action in the interest of local public welfare and means of improvement in the administration of governmental services; and d. Serve as the clearing house review body for Ffederally-funded projects in accordance with Circular A-95 in conjunction with the Southern California Association of Governments. 1.2.2. When authorized pursuant to an Implementation Agreement, CVAG shall have the power in its own name to do any of the following: a. To exercise jointly the common powers of its members to manage and administer any Implementation Agreement program; b. To make and enter into contracts; c. To employ agents, officers and employees; cd. To contract for the services of engineers, attorneys, planners, financial consultants and separate and apart therefrom to employ such other persons, as it deems necessary; de. To incur debts, liabilities, obligations, and issue bonds; ef. To adopt rules, regulations, policies, bylaws and procedures governing the operation of CVAG in accordance with an Implementation Agreement; 300 fg. To apply for an appropriate grant or grants under any federal, state, or local program for assistance in developing an Implementation Agreement program; gh. To receive gifts, contributions, and donations of property, funds, services, and other forms of financial assistance from persons, firms, corporations, and any governmental entity; hi. To acquire, hold, and dispose of property by eminent domain, lease, lease purchase or salein accordance with the Implementation Agreement and subject to the conditions therein; provided, however, that the exercise of eminent domain is subject to veto by the jurisdiction within whose boundaries eminent domain is being exercised; j. To lease, acquire, construct, manage, maintain, and operate any buildings works, or improvements; and jk. To sue and be sued in its own name. k. To the extent not herein specifically provided for, to exercise any powers authorized by an Implementation Agreement in furtherance of said agreement’s purpose. 1.2.3. CVAG shall, in addition, have all implied powers necessary to perform its functions. It shall exercise its powers only in a manner consistent with the provisions of applicable law, this Agreement and the Bylaws. In accordance with Government Code Section 6509, the powers of CVAG shall be exercised in the manner prescribed in the Joint Exercise of Powers Act, Government Code Sections 6500 et seq., as that Act now exists and may hereafter be amended, and shall be subject to the restrictions upon the manner of exercising such powers that are imposed upon the County of Riverside, a charter law county, in the exercise of similar powers; provided however, that if the County of Riverside shall cease to be a member, then CVAG shall be restricted in the exercise of its power in the same manner as the City of Palm Desert, a charter law city. 1.2.3 CVAG shall, in addition, have all implied powers necessary to perform its functions. It shall exercise its powers only in a manner consistent with the provisions of applicable 301 law, this Agreement and the Bylaws. In accordance with Government Code Section 6509, the powers of CVAG shall be exercised in the manner prescribed in the Joint Exercise of Powers Act, Government Code Sections 6500 et seq., as that Act now exists and may hereafter be amended, and shall be subject to the restrictions upon the manner of exercising such powers that are imposed upon the City of Palm Desert, a charter city, in the exercise of similar powers; provided, however, that if the City of Palm Desert shall cease to be a member, then CVAG shall be restricted in the exercise of its power in the same manner as the County of Riverside, a general law county. 1.2.4. Implementation Agreements. When authorized by the Governing BoardExecutive Committee, and affected members, may execute an Implementation Agreement may be executed for the purpose of authorizing CVAG to implement, manage, and administer area- wide and regional programs and projects in the interest of the local public welfare in affected member jurisdictions. The costs incurred by CVAG in implementing a program, including indirect costs, shall be assessed only to those members who are parties to that Implementation Agreement. II. ORGANIZATION OF ASSOCIATION 2.1. Membership. The parties to CVAG shall be each be a public entity agency which has executed or hereafter executes this Agreement, or any addenda, amendment, or supplement thereto, and which has not, pursuant to provisions hereof, withdrawn therefrom. 2.2. Names. The names, particular capacities, and addresses of the parties at any time shall be shown on Exhibit "A" attached hereto, as amended or supplemented from time to time. 2.3 Duties. CVAG shall do whatever is necessary and required to carry out the purposes of this Agreement and when authorized by an Implementation Agreement, to make and enter into such contracts, incur such debts and obligations, assess contributions from the members, and 302 perform such other acts as are necessary to the accomplishment of the purposes of such Agreement, within the provisions of Government Code Section 6500 et seq. and as prescribed by the laws of the State of California. 2.4. Governing Body. 2.4.1. CVAG shall be governed by a General Assembly with membership consisting of the County of Riverside and each member city and Indian tribe which is a signatory to this Agreement. Each member agency of the General Assembly shall have five (5) votes in the General Assembly and each vote shall be vested in and be exercised by a mayor, council member, a tribal council member or county supervisor or each of the entities’ representatives’ respective appointed delegees, who need not be elected officials. The General Assembly shall act only upon a majority of a quorum. A quorum shall consist of a majority of the General Assembly provided that a majority of the member agencies are present. The General Assembly may adopt and amend by-laws for the administration and management of this Agreement, which when adopted and approved shall be an integral part of this Agreement. Such by-laws may provide for the management and administration of this Agreement. 2.4.2. There shall be an Executive Committee that exercises the powers of this Agreement between sessions of the General Assembly. Members of the Executive Committee shall be the mayor, or the mayor's designee, from each of the member cities, the tribal chair from each Indian tribe, and the five members of the Riverside County Board of Supervisors, except any Ccity Ccouncil, at its discretion, canmay appoint a Mmayor Ppro Ttem or other current city council member in place of the Mmayor and any Indian tribal council may appoint one of its current council members in place of the tribal chair. The Executive Committee shall act only upon a majority of a quorum. A quorum shall consist of a majority of the member agencies. 2.4.3. Each member of the General Assembly and the Executive Committee shall be a current member of the legislative body such member represents. 303 2.4.43. Each participating member on the Executive Committee shall also have an alternate, who must also be a current member of the legislative body of the party such alternative represents, with the exception of the alternates to the members representing the County of Riverside, who need not be elected officials. The name of the alternate members shall be on file with the Executive Committee. An alternate member shall assume all rights and duties of the absent member. 2.4.54. Each participating member and alternate shall hold office from the first meeting of the Executive Committee after their appointment by the City Council or Board of Supervisors until a successor is named. P a r t ic i p a t i n g Mmembers and alternates shall be appointed by and serve at the pleasure of their appointing body and may be removed at any time, with or without cause, at the sole discretion of the legislative body of the party such member represents. 2.4.5 Participating members and alternates of the Executive Committee shall receive no compensation but may be reimbursed for expenses necessarily and reasonably incurred in connection with their service on the Executive Committee. 2.5. Principal Office. The principal office of CVAG shall be established by the Executive Committee and shall be located within the Coachella Valley. The Executive Committee is hereby granted full power and authority to change said principal office from one location to another within the Coachella Valley. Any change shall be noted by the Secretary under this section but shall not be considered an amendment to this Agreement. 2.6. Meetings. The Executive Committee shall meet at the principal office of the agency or at such other place as may be designated by the Executive Committee. The time and place of regular meetings of the Executive Committee shall be determined by resolution adopted by the Executive Committee; a copy of such resolution shall be furnished to each party hereto. Regular, special and adjourned and special meetings shall be called and conducted in 304 accordance with the provisions of the Ralph M. Brown Act, Government Code Section 54950 et seq., as it may be amended. 2.7. Powers and Limitations Thereon. All of the powers and authorities of the agency shall be exercised by the General Assembly and its Executive Committee. Unless otherwise provided herein, each member or participating alternate shall be entitled to one vote, and a vote of the majority of those present and qualified to vote constituting a quorum may adopt any motion, resolution, or order and take any other action they deem appropriate to carry forward the objectives of the agency. 2.8. Minutes. The Secretary of the agency shall cause to be kept minutes of regular, special and adjourned regular and special meetings of the General Assembly and Executive Committee, and shall cause a copy of the minutes to be forwarded to each member and to each of the members hereto. 2.9. Rules. The Executive Committee may adopt from time to time such rules and regulations for the conduct of its affairs consistent with this Agreement or any Implementation Agreement. 2.10. Vote or Assent of Parties. The vote, assent, or approval of parties in any manner requiring such vote, assent, or approval hereunder shall be evidenced by a certified copy of the action of the governing body of such party filed with the agency. It shall be the responsibility of the Executive Director to obtain certified copies of said actions. 2.11. Officers. There shall be selected from the membership of the Executive Committee, a chairman and a vice chairman. The Executive Director shall be the Ssecretary. The Executive Committee shall designate an officer or employee of a member public agency to hold the office of treasurer for CVAG. Such person shall possess the powers of, and shall perform the 305 treasurer functions for, CVAG and perform those functions required by Government Code Sections 6505, 6505.5, and 6505.6, including any subsequent amendments thereto. The chair and vice-chair, shall hold office for a period of one year commencing July 1st of each and every fiscal year; provided, however, the first chairman and vice chairman appointed shall hold office from the date of appointment to June 3Oth of the ensuing fiscal year. Except for the Executive Director, any officer, employee, or agent of the Executive Committee may also be an officer, employee, or agent of any of the members. The appointment by the Executive Committee of such a person shall be evidence that the two positions are compatible. 2.12. Committees. The Executive Committee may, as it deems appropriate, appoint committees to accomplish the purposes set forth herein. All committee meetings of CVAG shall be open to all members. 2.13. Additional Officers and Employees. The Executive Committee shall have the power to appoint such additional officers and to employ such employees and assistants as may be appropriate. Such officers and employees may also be, but are not required to be, officers and employees of the individual members. 2.14. Bonding Requirement. The officers or persons who have charge of, handle, or have access to any property of CVAG shall be the members of the Executive Committee, the treasurer, the Executive Director, and any other officers or persons to be designated or empowered by the Executive Committee. Each such officer or person shall be required to file an official bond with the Executive Committee in an amount which shall be established by the Executive Committee. Should the existing bond or bonds of any such officer be extended to cover the obligations provided herein, said bond shall be the official bond required herein. The premiums on any such bonds attributable to the coverage required herein shall be appropriate expenses of CVAG. 306 2 .15 . Status of Officers and Employees. All of the privileges and immunities from liability, exemption or immun it y from laws, ordinances, and rules, all pension, relief, disability, worker's compensation, and other benefits which apply to the activity of officers, agents, or employees of any of the members when performing their respective functions shall apply to them to the same degree and extent while engaged in the performance of any of the functions and other duties under this Agreement. None of the officers, agents, or employees appointed by the Executive Committee shall be deemed, by reason of their employment by the Executive Committee, to be employed by any of the members ofr, by reason of their employment by the Executive Committee, to be subject to any of the requirements of such members. III. FUNDS AND PROPERTY 3 .1. Treasurer. The Executive Committee shall designate the t reasurer or other officer or employee of one of the member agencies t o s e r v e as Ttreasurer as depository for CVAG and he or she shall have custody of all funds and shall provide for strict accountability thereof in accordance with Government Code Section 6505.5 and other applicable laws of the State of California. He or she shall perform all of the duties required by him in Government Code Section 6505 et seq. 3.2. Expenditure of fFunds. The funds under this Agreement shall be expended only in furtherance of the purposes hereof and in accordance with the laws of the State of California and standard accounting practices shall be used to account for all funds received and disbursed. 3.3. Fiscal y ear. 307 CVAG shall be operated on a fiscal year basis, beginning on July 1 of each year and continuing until June 30 of the succeeding year. Prior to July 1 of each year, the General Assembly shall adopt a final budget for the expenditures of CVAG during the fiscal year. 3.4. Contributions/Public Funds. In preparing the budget, the General Assembly by majority vote of a quorum shall determine the amount of funds which will be required from its members for the purposes of this Agreement. The funds required from its members after approval of the final budget shall be raised by contributions, fifty-percent (50%) of which will be assessed on a per capita basis and fifty -percent (50%) on an assessed valuation basis, each city paying on the basis of its population and assessed valuation and the County paying on the basis of the population and assessed valuation within the unincorporated area of Coachella Valley as defined in the by- laws. Contributions from the Indian tribes shall be equal to the lowest contribution assessed against any single CVAG member jurisdiction. The parties, when informed of their respective contributions, shall pay the same before August 1st of the fiscal year for which they are assessed. In addition to the contributions provided, advances of public funds from the parties may be made for the purposes of this Agreement. When such advances are made, they shall be repaid from the first available funds of CVAG. The General Assembly shall have the power to determine that personnel, equipment, or property of one or more of the parties to the Agreement may be used in lieu of fund contributions or advances. All contributions and funds shall be paid to CVAG and shall be disbursed by a majority vote of a quorum of the Executive Committee, as authorized by the approved budget. 3.5. Control and Investment of CVAG Funds. 308 The Governing BoardExecutive Committee shall adopt a policy for the control and investment of its funds and shall require strict compliance with such policy. The policy shall comply, in all respects, with all provisions of applicable law. IV. BUDGETS AND DISBURSEMENTS 4.1. Annual Budget. The General Assembly shall adopt upon the approval of a quorum of the members of the General Assembly, an annual budget, for the ensuing fiscal year, pursuant to procedures developed by the General Assembly. The Executive Committee may at any time amend the budget to incorporate additional income and disbursements that might become available to CVAG for its purposes during a fiscal year. 4.2. Disbursements. The Executive Director shall request warrants from the Ttreasurer in accordance with budgets approved by the General Assembly or Executive Committee subject to quarterly review by the Executive Committee. The Ttreasurer shall pay such claims or disbursements and such requisition for payment in accordance with rules, regulations, policies, procedures, and bylaws adopted by the Executive Committee. 4.3. Accounts. All funds other than any Implementation Agreement funds will be placed in accounts and the receipt, transfer, or disbursement of such funds during the term of this Agreement shall be accounted for in accordance with generally accepted accounting principles applicable to governmental entities and pursuant to Gov. Code Section 6505 et seq. and any other applicable laws of the State of California. There shall be strict accountability of all funds. All revenues and expenditures shall be reported to the Executive Committee. 4.4. Blythe Transportation Funds. 309 Coachella Valley and Blythe/Palo Verde Valley transportation -related funds shall not be commingled without the approval by two-thirds vote of the Executive Committee, one of which votes must be by the voting member representing the City of Blythe. 4.45 . Expenditures Within Approved Annual Budget. All expenditures shall be made within the approved annual budget. No expenditures in excess of those budgeted shall be made without the approval of a majority of a quorum of the Executive Committee. 4.56. Audit. The records and accounts of CVAG shall be audited annually by an independent certified public accountant and copies of such audit report shall be filed with the County Auditor, State Controller, and each party to CVAG no later than fifteen (15) days after receipt of said audit by the Executive Committee. 4.67. Reimbursement of Funds. Grant funds received by CVAG from any federal, state, or local agency to pay for budgeted expenditures for which CVAG has received all or a portion of said funds from the parties hereto shall be used as determined by CVAG's Executive Committee. V. LIABILITIES 5.1. Liabilities. The debts, liabilities, and obligations of CVAG shall be the debts, liabilities, or obligations of CVAG alone and not of the parties to this Agreement. 5.2. Hold Harmless and Indemnity. Each party hereto agrees to indemnify and hold the other parties harmless from all liability for damage, actual or alleged, to persons or property arising out of or resulting from negligent acts or omissions of the indemnifying party or its officials, officers, employees or agents. Where the General Assembly or Executive Committee itself or its officials, 310 officers ,agents or employees or agents are held liable for injuries to persons or property, each party's liability for contribution or indemnity for such injuries shall be based proportionately upon the contributions (less voluntary contributions) of each member. In the event of liability imposed upon any of the parties to this Agreement, or upon the General Assembly or Executive Committee created by this Agreement, for injury which is caused by the negligent or wrongful act or omission of any of the parties in the performance of this Agreement, the contribution of the party or parties not directly responsible for the negligent or wrongful act or omission shall be limited to One Hundred Dollars ($100.00). The party or parties directly responsible for the negligent or wrongful acts or omissions shall indemnify, defend, and hold all other parties harmless from any liability for personal injury or property damage arising out of the performance of this Agreement. VI. ADMISSION AND WITHDRAWAL OF PARTIES 6.1. Admission of New Parties. It is recognized that public entitiesagencies, other than those that are a party to this Agreement, may wish to participate in CVAG. Additional public entities agencies may become parties to CVAG upon such terms and conditions as provided by the General Assembly or Executive Committee and the consent of two-thirds (2/3) of the existing parties to CVAG, evidenced by the execution of a written addendum to this Agreement, and signed by all of the parties including the additional party. 6.2. Admission of the City of Blythe A. The City of Blythe is hereby made a member of CVAG. Subject only to the condition herein stated, the City of Blythe shall be subject to the terms of the Joint Powers Agreement Formation of the Coachella Valley Association of Governments entered into on or about November 973 as it was earlier amended and restated by the Amendment and Restatement 311 of the Joint Powers Agreement dated June 26, 1989, and as it is hereby further amended by this Agreement. B. A condition of membership by the City of Blythe shall be that there will be no commingling of Coachella Valley and Blythe/Palo Verde Valley transportation-related funds without the approval by two-thirds vote of the Executive Committee, one of which votes must be by the voting member representing the City of Blythe. C. Membership by the City of Blythe shall be deemed effective on the first day of the next full month following execution of this Amendment by the City of Blythe and at least seven other CVAG member jurisdictions. 6.32. Withdrawal Ffrom CVAG. It is fully anticipated that each party hereto shall participate in CVAG until the purposes set forth in this Agreement are accomplished. The withdrawal of any party, either voluntary or involuntary, unless otherwise provided by the General Assembly or Executive Committee, shall be conditioned as follows: A. In the case of a voluntary withdrawal following a properly noticed public hearing, written notice shall be given to CVAG, one (1) year and ninety (90) days prior to the effective date of withdrawal; B. Withdrawal shall not relieve the party of its proportionate share of any debts or other liabilities incurred by CVAG prior to the effective date of the parties' notice of withdrawal; C. Withdrawal shall result in the forfeiture of that party's rights and claims relating to distribution of property and funds upon termination of CVAG as set forth in Section 7 below.; and. D. Failure of a party to approve this Agreement within ninety (90) days following approval by a majority vote of the membership shall constitute withdrawal for purposes of this Section 6.2. 312 D. Withdrawal from any Implementation Agreement shall not be deemed withdrawal from membership in CVAG. VII. TERMINATION AND DISPOSITION OF ASSETS 7.1. Termination of this Agreement. CVAG shall continue to exercise the joint powers herein until the termination of this Agreement and any extension thereof or until the parties shall have mutually rescinded this Agreement; providing, however, that CVAG and this Agreement shall continue to exist for the purposes of disposing of all claims, distribution of assets, and all other functions necessary to conclude the affairs of CVAG. Termination shall be accomplished by written consent of all of the parties, or shall occur upon the withdrawal from CVAG of a sufficient number of the agencies enumerated herein so as to leave less than five (5) of the enumerated agencies remaining in CVAG. 7.2 Distribution of Property and Funds. In the event of the termination of this Agreement, any property interest remaining in CVAG following the discharge of all obligations shall be disposed of as the Executive Committee shall determine with the objective of returning to each party a proportionate return on the contributions made to such properties by such parties, less previous returns, if any. VIII IMPLEMENTATION AGREEMENTS 8.1 Execution of Agreement. Six (6) or more of the public agencies enumerated herein, or if approved by the Executive Committee then two (2) or more of the public agencies enumerated herein, may execute an Implementation Agreement for the purpose of authorizing CVAG to implement, 313 manage and administer area-wide and regional programs in the interest of the local public welfare. The costs incurred by CVAG in implementing a program including indirect costs, shall be assessed only to those public agencies who are parties to that Implementation Agreement. 8.2 Amendments. Said Implementation Agreements may be amended from time to time with the approval of not less than two-thirds (2/3) of the members to the Implementation Agreement, or as otherwise provided therein. VIII. MISCELLANEOUS 8.1. Amendments. This Agreement may be amended with the approval of not less than two-thirds a majority vote (2/3) two -thirds (2/3) of the public agencies enumerated hereinof all members. 8.2. Notices. Any notice or instrument required to be given or delivered by depositing the same in any United States Post Office, registered or certified, postage prepaid, addressed to the addresses of the parties as shown on Exhibit "A", shall be deemed to have been received by the party to whom the same is addressed at the expiration of seventy-two (72) hours after deposit of the same in the United States Post Office for transmission by registered or certified mail as aforesaid. 8.3. Effective Date. This Agreement shall be effective and CVAG shall exist at such time as this 314 Agreement has been executed by a majority two-thirds of the public agencies enumerated herein. 8.4. Arbitration. Any controversy or claim between any two or more parties to this Agreement, or between any such party or parties and CVAG, with respect to disputes, demands, differences, controversies, or misunderstandings arising in relation to interpretation of this contractAgreement, or any breach thereof, shall be submitted to and determined by arbitration. The party desiring to initiate arbitration shall give notice of its intention to arbitrate to every other party to this Agreement and CVAG. Such notice shall designate as "respondents" such other parties as the initiating party intends to have bound by any award made therein. Any party not so designated but which desires to join in the arbitration may, within ten (10) days of service upon it of such notice, file a response indicating its intention to join in and to be bound by the results of the arbitration, and further designating any other parties it wishes to name as a respondent. Within twenty (20) days of the service of the initial demand for arbitration, the initiating party and the respondent shall each designate a person to act as an arbitrator. The two designated arbitrators shall mutually designate a third person to serve as arbitrator. The three arbitrators shall proceed to arbitrate the matter in accordance with the provisions of Title 9 of Part 3 of the Code of Civil Procedure, Section 1280 et seq. The parties to this Agreement agree that the decision of the arbitrators will be binding. 8.5 Limited Waiver of Sovereign Immunity. Notwithstanding Section 8.12 below anything to the contrary herein, the Indian tribes enumerated herein do not waive, limit, or modify their sovereign immunity against contested suit except as specifically provided in this Section 8.5. The Indian tribes hereby individually agree to waive their sovereign immunity solely for the limited purpose of authorizing only the other Indian tribes enumerated herein, CVAG, County of Riverside, City of Coachella, City of Indio, City of La Quinta, City of Indian Wells, City of Palm Desert, City of Rancho Mirage, City of Cathedral City, City of Palm Springs, City of Desert Hot Springs, and City of Blythe (the “Covered Parties”) (1) to 315 initiate an arbitration seeking to enforce all rights granted to the Covered Parties under this Agreement; (2) to seek provisional remedies in aid of arbitration; or (3) to enforce an arbitration award. In the event the Indian tribes enumerated herein and the Covered Parties have a dispute and are unable to resolve the dispute without litigation have a need to seek provisional remedies in aid of arbitration or to enforce an arbitration award and are unable to do so without litigation, the only jurisdiction and venue for such litigation arising from and/or related to this Agreement shall be either the United States District Court, Central District of California, Riverside Branch, or the Superior Court of the State of California, County of Riverside. 8.56. Partial Invalidity. If any one or more of the terms, provisions, sections, promises, covenants, or conditions of this Agreement shall to any extent be adjudged invalid, unenforceable, void, or voidable for any reason whatsoever by a court of competent jurisdiction, each and all of the remaining terms, provisions, sections, promises, covenants, and conditions of this Agreement shall not be affected thereby and shall be valid and enforceable to the fullest extent permitted by law. The governing body of each of the members hereby declares that it would have adopted each section, subsection, sentence, clause, phrase, or portion of this Agreement, irrespective of the fact that any one or more sections, subsections, sentences, clauses, phrases, or portions of this Agreement be declared invalid or unenforceable. 8.67. Successors. This Agreement shall be binding upon and shall inure to the benefit of the successors of the parties hereto. 8.78. Assignment. The parties hereto shall not assign any rights o r obligations under this Agreement without written consent of all other parties. 8.89. Execution. 316 The Board of Supervisors of the County of Riverside, and the city councils of the cities and the tribal councils of the Indian tribes enumerated herein have each authorized execution of this Agreement, as evidenced by the authorized signatures below, respectively. Upon the approval of this Agreement by a majority of the existing members of CVAG, the Second Restatement and Amendment of the Joint Powers Agreement of the Coachella Valley Association of Governments and all prior versions of same shall be superseded, void and of no effect. 8.10 Governing Law. This Agreement shall be deemed to have been made, and shall be construed and interpreted, in accordance with the laws of the State of California. 8.11 Execution in Counterparts. This Agreement may be executed on behalf of the respective members in one or more counterparts, all of which shall collectively constitute one agreement. 8.12 Enforcement of Agreement. CVAG is hereby authorized to take any or all legal or equitable actions, including but not limited to injunctive relief and specific performance, necessary or permitted by law to enforce this Agreement. 8.13 No Third- Party Beneficiaries. This Agreement is intended solely for the benefit of the CVAG and the parties to this Agreement, and no third party shall be deemed to be a beneficiary or to have any rights hereunder against the Association or any of its members. The members of this Third Restated and Amended Joint Powers Agreement have caused this 317 Agreement to be executed on their behalf as of the date specified below, respectively, as follows: COUNTY OF RIVERSIDE CITY OF CATHEDRAL CITY By: By: Date:______________________ Date:_______________________ CITY OF COACHELLA CITY OF DESERT HOT SPRINGS By: By: Date:______________________ Date:________________________ CITY OF PALM SPRINGS CITY OF PALM DESERT By: By: Date:______________________ Date:________________________ CITY OF BL YTHE CITY OF RANCHO MIRAGE 318 By: By: Date:______________________ Date:________________________ CITY OF INDIAN WELLS CITY OF LA QUINTA By: By: Date:______________________ Date:________________________ CITY OF INDIO AGUA CALIENTE BAND OF CAHUILLA INDIANS By: By:_______________________ Date:_______________________ Date:______________________ CABAZON BAND OF MISSION INDIANS By:_________________________ Date:________________________ 319 320 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: DISCUSS PROPOSED NON-BEDROOM CONVERSION LIMITATIONS FOR TITLE 9 AND AMENDMENTS TO THE SHORT-TERM VACATION RENTAL ORDINANCE FOR TITLE 3.25 RECOMMENDATION Discuss the proposed recommendations for non-bedroom conversion limitations for Title 9 and amendments to the short-term vacation rental ordinance for Title 3.25. EXECUTIVE SUMMARY On January 16, 2018, Council adopted a forty-five (45) day moratorium that prohibits approval of any entitlements, such as building permits that propose conversion of residential common living area to bedroom space. On February 20, 2018, Council adopted an extension of the moratorium for 120 days and requested Code amendments to be presented to Council. Staff reviewed and drafted recommendations for the non-bedroom conversion standards and short-term vacation rental (STVR) ordinances. Planning Commission recommended approval of Title 9 code amendments on April 24, 2018. FISCAL IMPACT – None. BACKGROUND/ANALYSIS In North La Quinta, owners of single-family residences, permitted as short-term vacation rentals (STVRs), have requested building permits to add additional bedrooms beyond the number of bedrooms originally intended for the home. The La Quinta Municipal Code (Code) standards do not directly limit conversion of existing kitchens, living rooms, dining room spaces, and other “non-bedroom” spaces into additional bedrooms. Staff is concerned that a proliferation of non-bedroom conversions within STVRs may increase residential occupancies and land use densities beyond those intended for single-family zoned neighborhoods, resulting in excessive noise and excessive use of on-street parking, among other impacts to health, safety and welfare identified in the ordinance. STUDY SESSION ITEM NO. 1 321 Staff has identified the following key recommendations below that may limit non- bedroom conversions. The complete list is referenced in Attachment 1:  Parking. Limit STVR parking to onsite and two additional spots in the street  Bedroom limitations. Limit STVR advertising or occupancy. To reflect bedroom maximum number of six bedrooms. Dwellings that exceed 3500 square feet may apply for up to two additional bedrooms.  Distance/area limitations. Limit STVR to designated areas or establish a distance requirement between STVRs.  Fines will be increased from $500 to $5,000 (current scale is $100 to $500).  New STVR applicants will be required to notify neighbors within 500 feet.  No accessory structures such as tents, trailers, or other mobile units may be used for dwelling, lodging, or sleeping purposes. Staff prepared Title 9 code amendments adding Chapter 9.50.100 (Additional Bedrooms) and modifications to guesthouse requirements. The amendments would establish minimum development standards applicable to additions to an existing single-family dwelling or modifications to the floor plan configuration of an existing single-family dwelling that results in additional bedrooms as follows:  Maximum number of bedrooms. Establish a maximum number of bedrooms based on thresholds of livable area square footage within single-family dwellings for homeowners pursuing additions or modifications (Attachment 1). The Planning Commission recommended a limit of 8 bedrooms for homes greater than 3,500 square feet. LIVABLE ARE IN SQUARE FEET BEDROOM MAXIMUM NUMBER 2,000 OR LESS 4 2,001-2,850 5 2,851- 3,500 6 GREATER THAN 3,500 8  Maximum bedroom coverage of 35%. Staff found bedroom coverage was between 19% and 35% for representative single-family residential developments. Staff recommended maximum bedroom coverage of 40% within existing single-family dwellings. The Planning Commission recommended maximum bedroom coverage of 35%.  Additional garage space requirement when added bedrooms result in four or more bedrooms. Staff recommended a requirement of additional garage space for modifications to single-family dwellings that equal five or more bedrooms to prevent excessive on-street parking. The Planning Commission recommended a requirement of additional garage space when livable area modifications result 322 in four or more bedrooms and that added garage space not result in new street curb cuts.  Guesthouses. Limit guesthouses to a maximum of two bedrooms and eliminate deed restriction requirement that prohibits rental of guesthouses. Staff is seeking direction from Council for non-bedroom conversion limitations and amendments to the short term vacation rental ordinance. Prepared by: Tommi Sanchez, Management Analyst Approved by: Frank J. Spevacek, City Manager Attachment 1: Comprehensive list of proposed recommendation for Title 3.25 323 324 Title 3.25 Recommended Revisions: May limit STVR Permits in a given area Limit STVR occupancy to two per bedroom – Both daytime and nighttime STVR’s shall not advertise or occupy more than six bedrooms – Dwellings that exceed 3500 square feet may apply for up to two additional bedrooms Code Compliance will bill for inspections Parking for STVR will be limited to onsite and two additional spots in the street Casita/Guesthouses may be rented if resident is occupying main dwelling Fines will be increased from $500 to $5000 (current scale is $100 to $500) Section 3.25.070 G - Add language “or attempted notification” New STVR applicants will notify neighbors within 500 feet Section 3.25.060 Add language to establish the number of bedrooms that may be advertised Property owner must be the permit holder. Properties with six or more bedrooms that exceed the number of allowable occupants that are hosting a special event must employ a license security company available 24/7 to respond to complaints. The permit application must list the hosting platform on which the units will be advertised. No accessory structures such as tents, trailers or other mobile units may be used for dwelling, lodging or sleeping purposes. An evacuation map and list of procedures shall be placed within the property. Three strikes violation STVR program. Owner’s signature is required on all application forms and disclaimers. Require a signed document for any request of record change including opting out form. ATTACHMENT 1 325 If NSF check is pending, STVR permits are not to be issued. Restriction on Special Events Permits/limit permits per year STVR application received three weeks before the Festival season in April will be processed as quickly as possible, but could be delayed. 326 City of La Quinta CITY COUNCIL MEETING: MAY 15, 2018 STAFF REPORT AGENDA TITLE: FISCAL YEAR 2018/19 PRELIMINARY PROPOSED BUDGET RECOMMENDATION As this is a study session item, no action is recommended. EXECUTIVE SUMMARY •The May 1 budget study session focused on the General Fund and Internal Service Funds. •This study session focuses on Special Revenue Funds, Capital Funds, and Enterprise Funds of the City. •Total non-General Fund revenues are $28,897,230 and total expenditures are $31,861,227. FISCAL IMPACT The preliminary non-General Fund revenues total $28,897,230 while expenditures total $31,861,227. Funds with expenses greater than revenues will be utilizing prior year savings. BACKGROUND/ANALYSIS The goal of the May 15 study session is to provide an overview and then allow time to meet with Council Members and other interested parties to address details that may not be easily conveyed in a study session format. Attachment 1 provides a narrative for all Special funds. Line item details for these revenues and expenses are located in Exhibit A of the Attachment. ALTERNATIVES The City Council may wish to request further information regarding specific items and then provide direction regarding the next steps in the overall budget process, which could include a third study session prior to budget adoption scheduled for June 19. Prepared by: Karla Campos, Finance Director Approved by: Frank J. Spevacek, City Manager Attachment: 1. Fiscal Year 2018/19 Proposed Budget Overview STUDY SESSION ITEM NO. 2 327 328 Page 1 Fund #Fund Description Total Revenue Total Expenditures Surplus/(Deficit) 201 Gas Tax Fund 1,965,500 1,959,900 5,600 202 Library & Museum Fund 2,308,000 1,588,200 719,800 203 Public Safety Fund (Measure G)200,000 - 200,000 210 Federal Assistance Fund 72,000 72,000 - 212 SLESF Fund 100,100 100,000 100 215 Lighting and Landscape District Fund 1,585,600 1,582,700 2,900 220 Quimby Fund 367,000 3,956,000 (3,589,000) 221 AB 939 Recycling Fund 63,700 35,000 28,700 223 Measure A Fund 729,000 1,035,997 (306,997) 225 Infrastructure Fund 100 - 100 230 CASp Fund, AB 1379 4,000 4,000 - 235 So. Coast Air Quality Fund 51,500 54,000 (2,500) 250 Transportation DIF Fund 369,000 400,000 (31,000) 251 Parks & Rec DIF Fund 200,000 - 200,000 252 Civic Center DIF Fund 110,000 110,000 - 253 Library Development DIF Fund 30,000 30,000 - 254 Community Center DIF Fund 15,400 - 15,400 255 Street Facility DIF Fund 15,000 15,000 - 256 Park Facility DIF Fund 4,000 4,000 - 257 Fire Protection DIF Fund 40,000 40,000 - 270 Art in Public Places Fund 88,500 322,000 (233,500) 275 LQ Public Safety Officer 2,100 - 2,100 310 LQ Finance Authority 671,600 671,600 - 401 Capital Improvement Programs Fund 12,030,230 12,030,230 - 501 Facility & Fleet Replacement Fund 923,700 923,700 - 502 Information Technology Fund 1,189,800 1,189,800 - 503 Parks Equipment & Facility Fund 675,000 675,000 - 504 Insurance Fund 923,600 921,100 2,500 601 SilverRock Operating Fund 4,092,800 4,090,800 2,000 602 SilverRock Reserve Fund 70,000 50,200 19,800 28,897,230$ 31,861,227$ Summary of Special Fund Expenditures by Fund for 2018/19 This second budget study session provides an overview of Special Funds. Exhibit A to this report provides line item details for all Special Fund revenue and expenditures. Special Revenue Funds account for specific revenues and their related expenditures that are legally required to be held in separate funds. Revenues are derived from developer impact fees, property tax assessments, State or Federal programs, housing income, or operational revenue. These restricted funds are utilized for road repairs, recycling programs, art in public places, housing activities, police programs, and golf course operations. The Supplemental Information section of the Proposed Budget provides a description of each special revenue fund. SPECIAL REVENUE FUNDS 2018/19 PROPOSED BUDGET OVERVIEW ATTACHMENT 1 329 Page 2 The proposed 2018/19 budget includes one new fund – CASp Fund, AB 1379. This fund was created to meet the requirement of Assembly Bill 1379 effective January 2018, which requires the $4 fee collected with business license renewals to be deposited in a special fund. Ten percent of revenue is remitted to the State and the remainder may be used for construction-related accessibility requirements. The Housing Authority Fund budget will be presented to the Housing Commission on May 23 and subsequently to Council on June 5 with final adoption on June 19. Gas Tax Fund Gas Tax revenue is projected to increase by $550,100 in 2018/19 primarily due to the passage of SB1 (Transportation Funding for Local Streets and Roads). As a result, the General Fund transfers in (contribution) was decreased by $38,500. Newly leased vehicles and heavy equipment purchases increased fleet maintenance expenses. Transfers out for CIP projects total $675,500 (an increase of $445,000) for the La Quinta Village Complete Streets Road Diet ($318,000) and Jefferson Street at Avenue 53 roundabout ($357,500). Additionally, salaries and benefits were reduced by $109,140 due to the reallocation of a maintenance worker to the Lighting and Landscape Fund. Lighting and Landscape Fund (LLD) The LLD is primarily funded through property tax assessments, which remain at $35.60 since 1997. To ensure proper citywide landscaping, the General Fund is projected to contribute $624,000 in 2018/19 to the LLD Fund. Expenditure increases are anticipated for landscape contract services and internal service charges. Staff has developed a quarterly implementation plan of the approved facilities assessment upgrade plan. Quarterly adjustments to this budget will be presented to Council for approval as the plan is implemented. Finance Authority Fund The Finance Authority Fund accounts for rental income from the General Fund used to pay for the 1996 Civic Center Bond obligation. The outstanding bond obligation ($650,000) will be paid off in October 2018. Upon full repayment, the Finance Authority will provide a final defeasement report to bond holders as required. SilverRock Resort Operating and Reserve Funds The City will continue to oversee the operations of the SilverRock golf course in 2018/19. The principal operating revenues are charges to customers for golf rounds, pro-shop purchases, and food and beverage sales. A General Fund contribution of $50,000 and a $50,200 transfer in from the SilverRock Reserve Fund will result in an overall operating budget surplus of $2,000. Revenues are not anticipated to drop during construction of the Montage and Pendry Hotels. Resident card holders will continue to be offered discounted golf rates; however, as approved with the new resident tee time schedule, rates will increase as follows: Season Current Rate New Rate High Season $55.00 $60.00 Shoulder Seasons $45.00 $49.00 Summer Season $30.00 $33.00 330 Page 3 Expenditure increases are primarily derived from an increase in the minimum wage effective January 2019, canal water rates increasing, and a contractual 4% increase for management services. Library and Museum Fund Revenue for Library and Museum operations are derived from property taxes specifically allocated for these facilities. The Fund is anticipated to have a surplus of $719,800 with revenues of $2,308,000 and expenses of $1,588,200. Staff will be reviewing budgetary needs as the Makerspace is implemented. Any future adjustments will be presented to Council for approval. Expenditures decreased by $936,300. The largest decreases from 2017/18 to 2018/19 are a reduction in land acquisition ($530,000) used to expand the museum and a reduction in building improvements ($150,000) for the Library Makerspace construction; both scheduled to be completed before year end. Other Special Revenue Funds • As directed by Council on May 1, the General Fund will contribute $200,000 to the Public Safety Fund, for a total balance of $500,000. • Quimby Fund revenue is projected to increase by $312,000 due to the SilverRock development. Expenses outpace revenue in 2018/19, however, total funds available are $4.6 million. • Art in Public Place Fund revenue is also project to increase to $85,500 due to the SilverRock development. Expenses over revenue for this fund will be paid from savings. The current fund balance is $500,000; after projected 2018/19 expenses ($322,000) and CIP carryovers ($200,000), the fund balance is estimated to be $63,000. • Measure A Fund is restricted for highway, local street and road maintenance improvements, commuter assistance, and specialized transit projects. To ensure eligibility of revenue, the City’s General Fund must supplement these improvements by a minimum of $937,007 annually. Half of current Measure A revenue is retained by Coachella Valley Association of Governments for a loan repayment. This loan is scheduled to be paid off in 2018/19, thereby doubling future revenue starting in 2019/20. • The Capital Improvement Program Fund projects for 2018/19 is scheduled for approval by Council on May 15. Approved projects will be incorporated into the final budget for funding approval. • Expenditures from the Civic Center DIF Fund, Library Development DIF Fund, Street Facility DIF Fund, Park Facility DIF Fund, and Fire Protection DIF Fund are related to the repayment of outstanding interfund loans. A third budget study session will be held on June 5 with the final budget scheduled for adoption on June 19. 331 332 May 15, 2018 2018/19 PROPOSED BUDGET EXHIBIT A 333 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 129,125.91 100,100.00 100,100.00 100,100.00 0.00 8,978.31 0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 135,653.45 0.00 0.00 0.00 0.00 18,170.36 0.00 0.00 0.00 0.00 128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 114.02 0.00 0.00 100.00 100.00 17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) (11,975.78)0.00 0.00 0.00 0.00 13,977.17 0.00 0.00 0.00 0.00 388,472.15 369,000.00 369,000.00 369,000.00 0.00 200,092.81 200,000.00 200,000.00 200,000.00 0.00 98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 13,324.58 15,400.00 15,400.00 15,400.00 0.00 19,094.72 15,000.00 15,000.00 15,000.00 0.00 3,969.00 4,000.00 4,000.00 4,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 2,192.99 2,100.00 2,100.00 2,100.00 0.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) 637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 201 - GAS TAX FUND 202 - LIBRARY & MUSEUM FUND 203 - PUBLIC SAFETY FUND (MEASURE G) 210 - FEDERAL ASSISTANCE FUND 212 - SLESA (COPS) FUND 213 - JAG FUND 214 - INDIAN GAMING 215 - LIGHTING & LANDSCAPING FUND 217 - DEVELOPMENT AGREEMENT 218 - CV VIOLENT CRIME TASK FORCE 220 - QUIMBY FUND 221 - AB 939 - CALRECYCLE FUND 223 - MEASURE A FUND 225 - INFRASTRUCTURE FUND 226 - EMERGENCY MANAGEMENT PERFORMANCE GRA 230 - CASp FUND, AB 1379 235 - SO COAST AIR QUALITY FUND 241 - HOUSING AUTHORITY 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 201 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2 250 - TRANSPORTATION DIF FUND 251 - PARKS & REC DIF FUND 252 - CIVIC CENTER DIF FUND 253 - LIBRARY DEVELOPMENT DIF 254 - COMMUNITY CENTER DIF 255 - STREET FACILITY DIF FUND 256 - PARK FACILITY DIF FUND 257 - FIRE PROTECTION DIF 270 - ART IN PUBLIC PLACES FUND 275 - LQ PUBLIC SAFETY OFFICER 310 - LQ FINANCE AUTHORITY DEBT SERVICE 401 - CAPITAL IMPROVEMENT PROGRAMS 501 - FACILITY & FLEET REPLACEMENT 502 - INFORMATION TECHNOLOGY 503 - PARK EQUIP & FACILITY FUND 504 - INSURANCE FUND 601 - SILVERROCK RESORT 602 - SILVERROCK GOLF RESERVE 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 NON-General Fund Revenue 22,431,685.42 24,371,300.00 27,966,113.00 28,897,230.00 931,117.00 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 129,125.91 100,100.00 100,100.00 100,100.00 0.00 8,978.31 0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 135,653.45 0.00 0.00 0.00 0.00 18,170.36 0.00 0.00 0.00 0.00 128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 114.02 0.00 0.00 100.00 100.00 17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) (11,975.78)0.00 0.00 0.00 0.00 13,977.17 0.00 0.00 0.00 0.00 388,472.15 369,000.00 369,000.00 369,000.00 0.00 200,092.81 200,000.00 200,000.00 200,000.00 0.00 98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 13,324.58 15,400.00 15,400.00 15,400.00 0.00 19,094.72 15,000.00 15,000.00 15,000.00 0.00 3,969.00 4,000.00 4,000.00 4,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 2,192.99 2,100.00 2,100.00 2,100.00 0.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) 637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 22,431,685.42 24,371,300.00 27,966,113.00 28,897,230.00 931,117.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE SUMMARY 2018/19 PROPOSED BUDGET 1 334 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 201 - GAS TAX FUND 3,447.65 2,000.00 2,000.00 2,000.00 0.00201-0000-41900 Allocated Interest 5,387.80 0.00 0.00 0.00 0.00201-0000-42000 Insurance Recoveries 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00201-0000-42900 Gas Tax - Section 2105 141,156.87 145,100.00 145,100.00 145,000.00 (100.00)201-0000-42905 Gas Tax - Section 2106 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00)201-0000-42910 Gas Tax - Section 2107 6,000.00 6,000.00 6,000.00 6,000.00 0.00201-0000-42915 Gas Tax - Section 2107.5 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00201-0000-42920 Gas Tax - Section 2103 0.00 45,700.00 45,700.00 46,000.00 300.00201-0000-42921 Gas Tax Loan Repayment 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-42922 Road Maint. Rehab Act (S 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00)201-0000-49500 Transfers In 201 - GAS TAX FUND Totals:1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 202 - LIBRARY & MUSEUM FUND 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00202-0000-41720 County Government Reve 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00202-0000-41900 Allocated Interest 202 - LIBRARY & MUSEUM FUND Totals:2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 203 - PUBLIC SAFETY FUND (MEASURE G) 0.00 300,000.00 300,000.00 200,000.00 (100,000.00)203-0000-49500 Transfers In 203 - PUBLIC SAFETY FUND (MEASURE G) Totals:0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 210 - FEDERAL ASSISTANCE FUND 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00)210-0000-43105 CDBG 210 - FEDERAL ASSISTANCE FUND Totals:125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 212 - SLESA (COPS) FUND (197.87)100.00 100.00 100.00 0.00212-0000-41900 Allocated Interest 129,323.78 100,000.00 100,000.00 100,000.00 0.00212-0000-43115 SLESA (COPS) Grant 212 - SLESA (COPS) FUND Totals:129,125.91 100,100.00 100,100.00 100,100.00 0.00 213 - JAG FUND (24.69)0.00 0.00 0.00 0.00213-0000-41900 Allocated Interest 9,003.00 0.00 0.00 0.00 0.00213-0000-43120 Justice Assistance Grant 213 - JAG FUND Totals:8,978.31 0.00 0.00 0.00 0.00 214 - INDIAN GAMING (107.01)0.00 0.00 0.00 0.00214-0000-41900 Allocated Interest 214 - INDIAN GAMING Totals:(107.01)0.00 0.00 0.00 0.00 215 - LIGHTING & LANDSCAPING FUND 778.89 0.00 0.00 2,100.00 2,100.00215-0000-41900 Allocated Interest 6,625.72 0.00 0.00 0.00 0.00215-0000-42305 Miscellaneous Reimburse 953,698.66 958,900.00 958,900.00 959,500.00 600.00215-0000-43210 LLD Assessments 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00215-0000-49500 Transfers In 215 - LIGHTING & LANDSCAPING FUND Totals:1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 217 - DEVELOPMENT AGREEMENT 110,537.07 0.00 0.00 0.00 0.00217-0000-41411 Mitigation Measure 25,116.38 0.00 0.00 0.00 0.00217-0000-41900 Allocated Interest 217 - DEVELOPMENT AGREEMENT Totals:135,653.45 0.00 0.00 0.00 0.00 218 - CV VIOLENT CRIME TASK FORCE 1,414.12 0.00 0.00 0.00 0.00218-0000-41900 Allocated Interest 14,976.00 0.00 0.00 0.00 0.00218-0000-43126 Member Contribution Ca 1,780.24 0.00 0.00 0.00 0.00218-0000-43127 CLET Line Reimbursemen 218 - CV VIOLENT CRIME TASK FORCE Totals:18,170.36 0.00 0.00 0.00 0.00 220 - QUIMBY FUND 23,995.25 15,000.00 15,000.00 15,000.00 0.00220-0000-41900 Allocated Interest 104,222.79 40,000.00 40,000.00 352,000.00 312,000.00220-0000-43200 Quimby Fees 220 - QUIMBY FUND Totals:128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 3,447.65 2,000.00 2,000.00 2,000.00 0.00 5,387.80 0.00 0.00 0.00 0.00 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00 141,156.87 145,100.00 145,100.00 145,000.00 (100.00) 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00) 6,000.00 6,000.00 6,000.00 6,000.00 0.00 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00 0.00 45,700.00 45,700.00 46,000.00 300.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00) 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) (197.87)100.00 100.00 100.00 0.00 129,323.78 100,000.00 100,000.00 100,000.00 0.00 129,125.91 100,100.00 100,100.00 100,100.00 0.00 (24.69)0.00 0.00 0.00 0.00 9,003.00 0.00 0.00 0.00 0.00 8,978.31 0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 778.89 0.00 0.00 2,100.00 2,100.00 6,625.72 0.00 0.00 0.00 0.00 953,698.66 958,900.00 958,900.00 959,500.00 600.00 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 110,537.07 0.00 0.00 0.00 0.00 25,116.38 0.00 0.00 0.00 0.00 135,653.45 0.00 0.00 0.00 0.00 1,414.12 0.00 0.00 0.00 0.00 14,976.00 0.00 0.00 0.00 0.00 1,780.24 0.00 0.00 0.00 0.00 18,170.36 0.00 0.00 0.00 0.00 23,995.25 15,000.00 15,000.00 15,000.00 0.00 104,222.79 40,000.00 40,000.00 352,000.00 312,000.00 128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND NUMBER 2018/19 PROPOSED BUDGET 2 335 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 221 - AB 939 - CALRECYCLE FUND 17,070.52 60,000.00 60,000.00 61,000.00 1,000.00221-0000-41506 Burrtec AB 939 Fee 3,473.44 2,500.00 2,500.00 2,700.00 200.00221-0000-41900 Allocated Interest 32,598.49 0.00 0.00 0.00 0.00221-0000-43120 Cal Recycle Grant 221 - AB 939 - CALRECYCLE FUND Totals:53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 223 - MEASURE A FUND 716,337.99 724,500.00 724,500.00 739,000.00 14,500.00223-0000-41320 County Sales Tax 2,491.11 0.00 0.00 (5,000.00)(5,000.00)223-0000-41900 Allocated Interest 8,550.68 0.00 0.00 (5,000.00)(5,000.00)223-0000-42000 Insurance Recoveries 223 - MEASURE A FUND Totals:727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 225 - INFRASTRUCTURE FUND 114.02 0.00 0.00 100.00 100.00225-0000-41900 Allocated Interest 225 - INFRASTRUCTURE FUND Totals:114.02 0.00 0.00 100.00 100.00 226 - EMERGENCY MANAGEMENT PERFORMANCE GR (17.81)0.00 0.00 0.00 0.00226-0000-41900 Allocated Interest 17,714.00 0.00 0.00 0.00 0.00226-0000-43120 EMP Grant ANAGEMENT PERFORMANCE GRANT (EMPG) Totals:17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 230 - CASp FUND, AB 1379 230-0000-42130 SB 1186 Revenue 230 - CASp FUND, AB 1379 Totals:0.00 0.00 0.00 4,000.00 4,000.00 235 - SO COAST AIR QUALITY FUND 824.46 300.00 300.00 500.00 200.00235-0000-41900 Allocated Interest 51,050.43 50,000.00 50,000.00 51,000.00 1,000.00235-0000-43410 SCAQ Contribution 235 - SO COAST AIR QUALITY FUND Totals:51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 241 - HOUSING AUTHORITY (17,153.91)0.00 0.00 0.00 0.00241-0000-41900 Allocated Interest 2,750,037.96 0.00 0.00 0.00 0.00241-0000-42706 Loan Repayments 0.00 0.00 93,800.00 0.00 (93,800.00)241-0000-45000 Sale of Other Assets 70,218.97 20,000.00 20,000.00 0.00 (20,000.00)241-9101-41900 Allocated Interest 655.09 0.00 0.00 0.00 0.00241-9101-41915 Non-Allocated Interest 242,599.40 0.00 0.00 0.00 0.00241-9101-43504 2nd Trust Deed Repayme 3,113.32 0.00 0.00 0.00 0.00241-9102-41916 Non-Allocated Interest/W 194,072.00 614,800.00 614,800.00 0.00 (614,800.00)241-9102-42112 Rent Revenue/Tenant/W (3,447.68)0.00 0.00 0.00 0.00241-9102-42113 Rent Variance - WSA 8,073.48 4,200.00 4,200.00 0.00 (4,200.00)241-9102-42302 Miscellaneous Revenue/W 433,192.00 0.00 0.00 0.00 0.00241-9102-43520 Federal Government Ass 288,018.22 280,000.00 280,000.00 0.00 (280,000.00)241-9103-43502 Rent Revenue/LQRP 241 - HOUSING AUTHORITY Totals:3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) 250 - TRANSPORTATION DIF FUND 18,007.34 19,000.00 19,000.00 19,000.00 0.00250-0000-41900 Allocated Interest 370,464.81 350,000.00 350,000.00 350,000.00 0.00250-0000-43200 Developer Fees 250 - TRANSPORTATION DIF FUND Totals:388,472.15 369,000.00 369,000.00 369,000.00 0.00 251 - PARKS & REC DIF FUND (2,659.19)0.00 0.00 0.00 0.00251-0000-41900 Allocated Interest 202,752.00 200,000.00 200,000.00 200,000.00 0.00251-0000-43200 Developer Fees 251 - PARKS & REC DIF FUND Totals:200,092.81 200,000.00 200,000.00 200,000.00 0.00 17,070.52 60,000.00 60,000.00 61,000.00 1,000.00 3,473.44 2,500.00 2,500.00 2,700.00 200.00 32,598.49 0.00 0.00 0.00 0.00 53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 716,337.99 724,500.00 724,500.00 739,000.00 14,500.00 2,491.11 0.00 0.00 (5,000.00)(5,000.00) 8,550.68 0.00 0.00 (5,000.00)(5,000.00) 727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 114.02 0.00 0.00 100.00 100.00 114.02 0.00 0.00 100.00 100.00 (17.81)0.00 0.00 0.00 0.00 17,714.00 0.00 0.00 0.00 0.00 17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 824.46 300.00 300.00 500.00 200.00 51,050.43 50,000.00 50,000.00 51,000.00 1,000.00 51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 (17,153.91)0.00 0.00 0.00 0.00 2,750,037.96 0.00 0.00 0.00 0.00 0.00 0.00 93,800.00 0.00 (93,800.00) 70,218.97 20,000.00 20,000.00 0.00 (20,000.00) 655.09 0.00 0.00 0.00 0.00 242,599.40 0.00 0.00 0.00 0.00 3,113.32 0.00 0.00 0.00 0.00 194,072.00 614,800.00 614,800.00 0.00 (614,800.00) (3,447.68)0.00 0.00 0.00 0.00 8,073.48 4,200.00 4,200.00 0.00 (4,200.00) 433,192.00 0.00 0.00 0.00 0.00 288,018.22 280,000.00 280,000.00 0.00 (280,000.00) 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) 18,007.34 19,000.00 19,000.00 19,000.00 0.00 370,464.81 350,000.00 350,000.00 350,000.00 0.00 388,472.15 369,000.00 369,000.00 369,000.00 0.00 (2,659.19)0.00 0.00 0.00 0.00 202,752.00 200,000.00 200,000.00 200,000.00 0.00 200,092.81 200,000.00 200,000.00 200,000.00 0.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND NUMBER 2018/19 PROPOSED BUDGET 3 336 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 252 - CIVIC CENTER DIF FUND (17.09)0.00 0.00 0.00 0.00252-0000-41900 Allocated Interest 98,757.10 100,000.00 100,000.00 110,000.00 10,000.00252-0000-43200 Developer Fees 252 - CIVIC CENTER DIF FUND Totals:98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 253 - LIBRARY DEVELOPMENT DIF 34,056.00 30,000.00 30,000.00 30,000.00 0.00253-0000-43200 Developer Fees 253 - LIBRARY DEVELOPMENT DIF Totals:34,056.00 30,000.00 30,000.00 30,000.00 0.00 254 - COMMUNITY CENTER DIF 553.58 400.00 400.00 400.00 0.00254-0000-41900 Allocated Interest 12,771.00 15,000.00 15,000.00 15,000.00 0.00254-0000-43200 Developer Fees 254 - COMMUNITY CENTER DIF Totals:13,324.58 15,400.00 15,400.00 15,400.00 0.00 255 - STREET FACILITY DIF FUND 15,125.55 15,000.00 15,000.00 15,000.00 0.00255-0000-43200 Developer Fees 3,969.17 0.00 0.00 0.00 0.00255-0000-49500 Transfers In 255 - STREET FACILITY DIF FUND Totals:19,094.72 15,000.00 15,000.00 15,000.00 0.00 256 - PARK FACILITY DIF FUND 9.00 0.00 0.00 0.00 0.00256-0000-41900 Allocated Interest 3,960.00 4,000.00 4,000.00 4,000.00 0.00256-0000-43200 Developer Fees 256 - PARK FACILITY DIF FUND Totals:3,969.00 4,000.00 4,000.00 4,000.00 0.00 257 - FIRE PROTECTION DIF 45,398.85 40,000.00 40,000.00 40,000.00 0.00257-0000-43200 Developer Fees 257 - FIRE PROTECTION DIF Totals:45,398.85 40,000.00 40,000.00 40,000.00 0.00 270 - ART IN PUBLIC PLACES FUND 2,740.34 3,500.00 3,500.00 3,500.00 0.00270-0000-41900 Allocated Interest 44,919.98 50,000.00 50,000.00 85,000.00 35,000.00270-0000-43201 APP Fees 270 - ART IN PUBLIC PLACES FUND Totals:47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 275 - LQ PUBLIC SAFETY OFFICER 192.99 100.00 100.00 100.00 0.00275-0000-41900 Allocated Interest 2,000.00 2,000.00 2,000.00 2,000.00 0.00275-0000-49500 Transfers In 275 - LQ PUBLIC SAFETY OFFICER Totals:2,192.99 2,100.00 2,100.00 2,100.00 0.00 310 - LQ FINANCE AUTHORITY DEBT SERVICE 5.15 0.00 0.00 0.00 0.00310-0000-41915 Non-Allocated Interest 678,100.34 671,400.00 671,400.00 671,600.00 200.00310-0000-42111 Rental Income 310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:678,105.49 671,400.00 671,400.00 671,600.00 200.00 401 - CAPITAL IMPROVEMENT PROGRAMS 110,002.49 0.00 0.00 0.00 0.00401-0000-41712 Surface Transportation P 69,541.54 0.00 139,500.00 0.00 (139,500.00)401-0000-41713 Hwy Sfty Imp Prog (HSIP) 0.00 0.00 199,500.00 0.00 (199,500.00)401-0000-41714 SB 821 Grants 0.00 0.00 30,000.00 0.00 (30,000.00)401-0000-41716 Highway Bridge Program 46,610.67 0.00 0.00 0.00 0.00401-0000-41720 County Government Reve 104,892.21 0.00 0.00 0.00 0.00401-0000-41721 CVAG (9,434.78)0.00 0.00 0.00 0.00401-0000-41900 Allocated Interest 31,248.20 0.00 548,428.00 81,970.00 (466,458.00)401-0000-43133 Developer Agreement Fu 78,888.00 0.00 0.00 0.00 0.00401-0000-43634 CV Water District 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00401-0000-49500 Transfers In 401 - CAPITAL IMPROVEMENT PROGRAMS Totals:3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 (17.09)0.00 0.00 0.00 0.00 98,757.10 100,000.00 100,000.00 110,000.00 10,000.00 98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 553.58 400.00 400.00 400.00 0.00 12,771.00 15,000.00 15,000.00 15,000.00 0.00 13,324.58 15,400.00 15,400.00 15,400.00 0.00 15,125.55 15,000.00 15,000.00 15,000.00 0.00 3,969.17 0.00 0.00 0.00 0.00 19,094.72 15,000.00 15,000.00 15,000.00 0.00 9.00 0.00 0.00 0.00 0.00 3,960.00 4,000.00 4,000.00 4,000.00 0.00 3,969.00 4,000.00 4,000.00 4,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 2,740.34 3,500.00 3,500.00 3,500.00 0.00 44,919.98 50,000.00 50,000.00 85,000.00 35,000.00 47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 192.99 100.00 100.00 100.00 0.00 2,000.00 2,000.00 2,000.00 2,000.00 0.00 2,192.99 2,100.00 2,100.00 2,100.00 0.00 5.15 0.00 0.00 0.00 0.00 678,100.34 671,400.00 671,400.00 671,600.00 200.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 110,002.49 0.00 0.00 0.00 0.00 69,541.54 0.00 139,500.00 0.00 (139,500.00) 0.00 0.00 199,500.00 0.00 (199,500.00) 0.00 0.00 30,000.00 0.00 (30,000.00) 46,610.67 0.00 0.00 0.00 0.00 104,892.21 0.00 0.00 0.00 0.00 (9,434.78)0.00 0.00 0.00 0.00 31,248.20 0.00 548,428.00 81,970.00 (466,458.00) 78,888.00 0.00 0.00 0.00 0.00 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00 3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND NUMBER 2018/19 PROPOSED BUDGET 4 337 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 501 - FACILITY & FLEET REPLACEMENT 14,187.68 12,000.00 12,000.00 12,000.00 0.00501-0000-41900 Allocated Interest (8,550.68)0.00 0.00 0.00 0.00501-0000-42000 Insurance Recoveries 31,000.00 0.00 0.00 0.00 0.00501-0000-42207 Capital Contributions 84.91 0.00 0.00 0.00 0.00501-0000-42301 Miscellaneous Revenue 448,800.00 519,000.00 519,000.00 911,700.00 392,700.00501-0000-43636 FMP Equipment Charges 2,860.32 0.00 0.00 0.00 0.00501-0000-45000 Sale of Other Assets 501 - FACILITY & FLEET REPLACEMENT Totals:488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 502 - INFORMATION TECHNOLOGY 2,450.86 2,000.00 2,000.00 2,500.00 500.00502-0000-41900 Allocated Interest 848,800.00 712,000.00 712,000.00 1,178,300.00 466,300.00502-0000-43610 Technology Support Char 6,657.36 0.00 9,000.00 9,000.00 0.00502-0000-43611 Technology Enhancemen 502 - INFORMATION TECHNOLOGY Totals:857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 503 - PARK EQUIP & FACILITY FUND 14,458.95 10,000.00 10,000.00 10,000.00 0.00503-0000-41900 Allocated Interest 40,104.54 0.00 0.00 0.00 0.00503-0000-42207 Capital Contributions 533,700.00 670,000.00 670,000.00 665,000.00 (5,000.00)503-0000-43620 Park Facility Charges 503 - PARK EQUIP & FACILITY FUND Totals:588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) 504 - INSURANCE FUND (258.20)0.00 0.00 1,000.00 1,000.00504-0000-41900 Allocated Interest 10,289.46 0.00 0.00 0.00 0.00504-0000-42000 Insurance Recoveries 627,000.00 1,001,000.00 1,001,000.00 922,600.00 (78,400.00)504-0000-43637 Insurance Charges 504 - INSURANCE FUND Totals:637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) 601 - SILVERROCK RESORT 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00601-0000-44000 Green Fees 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00)601-0000-44001 Range Fees 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00601-0000-44002 Merchandise 0.00 12,000.00 12,000.00 12,000.00 0.00601-0000-44003 Food & Beverage 121,475.00 165,300.00 165,300.00 165,300.00 0.00601-0000-44004 Resident Card 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00)601-0000-49500 Transfers In 601 - SILVERROCK RESORT Totals:3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 602 - SILVERROCK GOLF RESERVE 2,027.95 2,000.00 2,000.00 2,000.00 0.00602-0000-41900 Allocated Interest 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00602-0000-49500 Transfers In 602 - SILVERROCK GOLF RESERVE Totals:59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 NON-GENERAL FUND REVENUE 22,429,684.03 24,371,300.00 27,966,113.00 28,897,230.00 931,117.00 14,187.68 12,000.00 12,000.00 12,000.00 0.00 (8,550.68)0.00 0.00 0.00 0.00 31,000.00 0.00 0.00 0.00 0.00 84.91 0.00 0.00 0.00 0.00 448,800.00 519,000.00 519,000.00 911,700.00 392,700.00 2,860.32 0.00 0.00 0.00 0.00 488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 2,450.86 2,000.00 2,000.00 2,500.00 500.00 848,800.00 712,000.00 712,000.00 1,178,300.00 466,300.00 6,657.36 0.00 9,000.00 9,000.00 0.00 857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 14,458.95 10,000.00 10,000.00 10,000.00 0.00 40,104.54 0.00 0.00 0.00 0.00 533,700.00 670,000.00 670,000.00 665,000.00 (5,000.00) 588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) (258.20)0.00 0.00 1,000.00 1,000.00 10,289.46 0.00 0.00 0.00 0.00 627,000.00 1,001,000.00 1,001,000.00 922,600.00 (78,400.00) 637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00) 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00 0.00 12,000.00 12,000.00 12,000.00 0.00 121,475.00 165,300.00 165,300.00 165,300.00 0.00 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00) 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 2,027.95 2,000.00 2,000.00 2,000.00 0.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 22,429,684.03 24,371,300.00 27,966,113.00 28,897,230.00 931,117.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND NUMBER 2018/19 PROPOSED BUDGET 5 338 THIS PAGE INTENTIONALLY LEFT BLANK 6 339 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 SPECIAL REVENUE FUNDS 201 - GAS TAX FUND 3,447.65 2,000.00 2,000.00 2,000.00 0.00201-0000-41900 Allocated Interest 5,387.80 0.00 0.00 0.00 0.00201-0000-42000 Insurance Recoveries 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00201-0000-42900 Gas Tax - Section 2105 141,156.87 145,100.00 145,100.00 145,000.00 (100.00)201-0000-42905 Gas Tax - Section 2106 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00)201-0000-42910 Gas Tax - Section 2107 6,000.00 6,000.00 6,000.00 6,000.00 0.00201-0000-42915 Gas Tax - Section 2107.5 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00201-0000-42920 Gas Tax - Section 2103 0.00 45,700.00 45,700.00 46,000.00 300.00201-0000-42921 Gas Tax Loan Repayment 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-42922 Road Maint. Rehab Act (SB 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00)201-0000-49500 Transfers In 201 - GAS TAX FUND Totals:1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 202 - LIBRARY & MUSEUM FUND 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00202-0000-41720 County Government Reve 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00202-0000-41900 Allocated Interest 202 - LIBRARY & MUSEUM FUND Totals:2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 203 - PUBLIC SAFETY FUND (MEASURE G) 0.00 300,000.00 300,000.00 200,000.00 (100,000.00)203-0000-49500 Transfers In 203 - PUBLIC SAFETY FUND (MEASURE G) Totals:0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 210 - FEDERAL ASSISTANCE FUND 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00)210-0000-43105 CDBG 210 - FEDERAL ASSISTANCE FUND Totals:125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 212 - SLESA (COPS) FUND (197.87)100.00 100.00 100.00 0.00212-0000-41900 Allocated Interest 129,323.78 100,000.00 100,000.00 100,000.00 0.00212-0000-43115 SLESA (COPS) Grant 212 - SLESA (COPS) FUND Totals:129,125.91 100,100.00 100,100.00 100,100.00 0.00 213 - JAG FUND (24.69)0.00 0.00 0.00 0.00213-0000-41900 Allocated Interest 9,003.00 0.00 0.00 0.00 0.00213-0000-43120 Justice Assistance Grant 213 - JAG FUND Totals:8,978.31 0.00 0.00 0.00 0.00 214 - INDIAN GAMING (107.01)0.00 0.00 0.00 0.00214-0000-41900 Allocated Interest 214 - INDIAN GAMING Totals:(107.01)0.00 0.00 0.00 0.00 215 - LIGHTING & LANDSCAPING FUND 778.89 0.00 0.00 2,100.00 2,100.00215-0000-41900 Allocated Interest 6,625.72 0.00 0.00 0.00 0.00215-0000-42305 Miscellaneous Reimbursem 953,698.66 958,900.00 958,900.00 959,500.00 600.00215-0000-43210 LLD Assessments 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00215-0000-49500 Transfers In 215 - LIGHTING & LANDSCAPING FUND Totals:1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 220 - QUIMBY FUND 23,995.25 15,000.00 15,000.00 15,000.00 0.00220-0000-41900 Allocated Interest 104,222.79 40,000.00 40,000.00 352,000.00 312,000.00220-0000-43200 Quimby Fees 220 - QUIMBY FUND Totals:128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 221 - AB 939 - CALRECYCLE FUND 17,070.52 60,000.00 60,000.00 61,000.00 1,000.00221-0000-41506 Burrtec AB 939 Fee 3,473.44 2,500.00 2,500.00 2,700.00 200.00221-0000-41900 Allocated Interest 32,598.49 0.00 0.00 0.00 0.00221-0000-43120 Cal Recycle Grant 221 - AB 939 - CALRECYCLE FUND Totals:53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 3,447.65 2,000.00 2,000.00 2,000.00 0.00 5,387.80 0.00 0.00 0.00 0.00 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00 141,156.87 145,100.00 145,100.00 145,000.00 (100.00) 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00) 6,000.00 6,000.00 6,000.00 6,000.00 0.00 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00 0.00 45,700.00 45,700.00 46,000.00 300.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00) 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 0.00 300,000.00 300,000.00 200,000.00 (100,000.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) 125,755.00 125,800.00 184,451.00 72,000.00 (112,451.00) (197.87)100.00 100.00 100.00 0.00 129,323.78 100,000.00 100,000.00 100,000.00 0.00 129,125.91 100,100.00 100,100.00 100,100.00 0.00 (24.69)0.00 0.00 0.00 0.00 9,003.00 0.00 0.00 0.00 0.00 8,978.31 0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 (107.01)0.00 0.00 0.00 0.00 778.89 0.00 0.00 2,100.00 2,100.00 6,625.72 0.00 0.00 0.00 0.00 953,698.66 958,900.00 958,900.00 959,500.00 600.00 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 23,995.25 15,000.00 15,000.00 15,000.00 0.00 104,222.79 40,000.00 40,000.00 352,000.00 312,000.00 128,218.04 55,000.00 55,000.00 367,000.00 312,000.00 17,070.52 60,000.00 60,000.00 61,000.00 1,000.00 3,473.44 2,500.00 2,500.00 2,700.00 200.00 32,598.49 0.00 0.00 0.00 0.00 53,142.45 62,500.00 62,500.00 63,700.00 1,200.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND TYPE 2018/19 PROPOSED BUDGET 7 340 223 - MEASURE A FUND 716,337.99 724,500.00 724,500.00 739,000.00 14,500.00223-0000-41320 County Sales Tax 2,491.11 0.00 0.00 (5,000.00)(5,000.00)223-0000-41900 Allocated Interest 8,550.68 0.00 0.00 (5,000.00)(5,000.00)223-0000-42000 Insurance Recoveries 223 - MEASURE A FUND Totals:727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 225 - INFRASTRUCTURE FUND 114.02 0.00 0.00 100.00 100.00225-0000-41900 Allocated Interest 225 - INFRASTRUCTURE FUND Totals:114.02 0.00 0.00 100.00 100.00 226 - EMERGENCY MANAGEMENT PERFORMANCE GR (17.81)0.00 0.00 0.00 0.00226-0000-41900 Allocated Interest 17,714.00 0.00 0.00 0.00 0.00226-0000-43120 EMP Grant ANAGEMENT PERFORMANCE GRANT (EMPG) Totals:17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 230 - CASp FUND, AB 1379 230-0000-42130 SB 1186 Revenue 230 - CASp FUND, AB 1379 Totals:0.00 0.00 0.00 4,000.00 4,000.00 235 - SO COAST AIR QUALITY FUND 824.46 300.00 300.00 500.00 200.00235-0000-41900 Allocated Interest 51,050.43 50,000.00 50,000.00 51,000.00 1,000.00235-0000-43410 SCAQ Contribution 235 - SO COAST AIR QUALITY FUND Totals:51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 270 - ART IN PUBLIC PLACES FUND 2,740.34 3,500.00 3,500.00 3,500.00 0.00270-0000-41900 Allocated Interest 44,919.98 50,000.00 50,000.00 85,000.00 35,000.00270-0000-43201 APP Fees 270 - ART IN PUBLIC PLACES FUND Totals:47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 275 - LQ PUBLIC SAFETY OFFICER 192.99 100.00 100.00 100.00 0.00275-0000-41900 Allocated Interest 2,000.00 2,000.00 2,000.00 2,000.00 0.00275-0000-49500 Transfers In 275 - LQ PUBLIC SAFETY OFFICER Totals:2,192.99 2,100.00 2,100.00 2,100.00 0.00 SPECIAL REVENUE TOTAL 6,419,625.81 6,592,100.00 6,650,751.00 7,537,100.00 886,349.00 FOR CAPITAL PROJECTS 217 - DEVELOPMENT AGREEMENT 110,537.07 0.00 0.00 0.00 0.00217-0000-41411 Mitigation Measure 25,116.38 0.00 0.00 0.00 0.00217-0000-41900 Allocated Interest 217 - DEVELOPMENT AGREEMENT Totals:135,653.45 0.00 0.00 0.00 0.00 250 - TRANSPORTATION DIF FUND 18,007.34 19,000.00 19,000.00 19,000.00 0.00250-0000-41900 Allocated Interest 370,464.81 350,000.00 350,000.00 350,000.00 0.00250-0000-43200 Developer Fees 250 - TRANSPORTATION DIF FUND Totals:388,472.15 369,000.00 369,000.00 369,000.00 0.00 251 - PARKS & REC DIF FUND (2,659.19)0.00 0.00 0.00 0.00251-0000-41900 Allocated Interest 202,752.00 200,000.00 200,000.00 200,000.00 0.00251-0000-43200 Developer Fees 251 - PARKS & REC DIF FUND Totals:200,092.81 200,000.00 200,000.00 200,000.00 0.00 252 - CIVIC CENTER DIF FUND (17.09)0.00 0.00 0.00 0.00252-0000-41900 Allocated Interest 98,757.10 100,000.00 100,000.00 110,000.00 10,000.00252-0000-43200 Developer Fees 252 - CIVIC CENTER DIF FUND Totals:98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 253 - LIBRARY DEVELOPMENT DIF 34,056.00 30,000.00 30,000.00 30,000.00 0.00253-0000-43200 Developer Fees 253 - LIBRARY DEVELOPMENT DIF Totals:34,056.00 30,000.00 30,000.00 30,000.00 0.00 716,337.99 724,500.00 724,500.00 739,000.00 14,500.00 2,491.11 0.00 0.00 (5,000.00)(5,000.00) 8,550.68 0.00 0.00 (5,000.00)(5,000.00) 727,379.78 724,500.00 724,500.00 729,000.00 4,500.00 114.02 0.00 0.00 100.00 100.00 114.02 0.00 0.00 100.00 100.00 (17.81)0.00 0.00 0.00 0.00 17,714.00 0.00 0.00 0.00 0.00 17,696.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 824.46 300.00 300.00 500.00 200.00 51,050.43 50,000.00 50,000.00 51,000.00 1,000.00 51,874.89 50,300.00 50,300.00 51,500.00 1,200.00 2,740.34 3,500.00 3,500.00 3,500.00 0.00 44,919.98 50,000.00 50,000.00 85,000.00 35,000.00 47,660.32 53,500.00 53,500.00 88,500.00 35,000.00 192.99 100.00 100.00 100.00 0.00 2,000.00 2,000.00 2,000.00 2,000.00 0.00 2,192.99 2,100.00 2,100.00 2,100.00 0.00 6,419,625.81 6,592,100.00 6,650,751.00 7,537,100.00 886,349.00 110,537.07 0.00 0.00 0.00 0.00 25,116.38 0.00 0.00 0.00 0.00 135,653.45 0.00 0.00 0.00 0.00 18,007.34 19,000.00 19,000.00 19,000.00 0.00 370,464.81 350,000.00 350,000.00 350,000.00 0.00 388,472.15 369,000.00 369,000.00 369,000.00 0.00 (2,659.19)0.00 0.00 0.00 0.00 202,752.00 200,000.00 200,000.00 200,000.00 0.00 200,092.81 200,000.00 200,000.00 200,000.00 0.00 (17.09)0.00 0.00 0.00 0.00 98,757.10 100,000.00 100,000.00 110,000.00 10,000.00 98,740.01 100,000.00 100,000.00 110,000.00 10,000.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 34,056.00 30,000.00 30,000.00 30,000.00 0.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND TYPE 2018/19 PROPOSED BUDGET 8 341 254 - COMMUNITY CENTER DIF 553.58 400.00 400.00 400.00 0.00254-0000-41900 Allocated Interest 12,771.00 15,000.00 15,000.00 15,000.00 0.00254-0000-43200 Developer Fees 254 - COMMUNITY CENTER DIF Totals:13,324.58 15,400.00 15,400.00 15,400.00 0.00 255 - STREET FACILITY DIF FUND 15,125.55 15,000.00 15,000.00 15,000.00 0.00255-0000-43200 Developer Fees 3,969.17 0.00 0.00 0.00 0.00255-0000-49500 Transfers In 255 - STREET FACILITY DIF FUND Totals:19,094.72 15,000.00 15,000.00 15,000.00 0.00 256 - PARK FACILITY DIF FUND 9.00 0.00 0.00 0.00 0.00256-0000-41900 Allocated Interest 3,960.00 4,000.00 4,000.00 4,000.00 0.00256-0000-43200 Developer Fees 256 - PARK FACILITY DIF FUND Totals:3,969.00 4,000.00 4,000.00 4,000.00 0.00 257 - FIRE PROTECTION DIF 45,398.85 40,000.00 40,000.00 40,000.00 0.00257-0000-43200 Developer Fees 257 - FIRE PROTECTION DIF Totals:45,398.85 40,000.00 40,000.00 40,000.00 0.00 401 - CAPITAL IMPROVEMENT PROGRAMS 110,002.49 0.00 0.00 0.00 0.00401-0000-41712 Surface Transportation Pro 69,541.54 0.00 139,500.00 0.00 (139,500.00)401-0000-41713 Hwy Sfty Imp Prog (HSIP) G 0.00 0.00 199,500.00 0.00 (199,500.00)401-0000-41714 SB 821 Grants 0.00 0.00 30,000.00 0.00 (30,000.00)401-0000-41716 Highway Bridge Program ( 46,610.67 0.00 0.00 0.00 0.00401-0000-41720 County Government Reve 104,892.21 0.00 0.00 0.00 0.00401-0000-41721 CVAG (9,434.78)0.00 0.00 0.00 0.00401-0000-41900 Allocated Interest 31,248.20 0.00 548,428.00 81,970.00 (466,458.00)401-0000-43133 Developer Agreement Fun 78,888.00 0.00 0.00 0.00 0.00401-0000-43634 CV Water District 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00401-0000-49500 Transfers In 401 - CAPITAL IMPROVEMENT PROGRAMS Totals:3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 CAPITAL FUNDS TOTAL 4,866,070.95 9,197,300.00 12,630,662.00 12,813,630.00 182,968.00 INTERNAL SERVICE FUNDS 501 - FACILITY & FLEET REPLACEMENT 14,187.68 12,000.00 12,000.00 12,000.00 0.00501-0000-41900 Allocated Interest (8,550.68)0.00 0.00 0.00 0.00501-0000-42000 Insurance Recoveries 31,000.00 0.00 0.00 0.00 0.00501-0000-42207 Capital Contributions 84.91 0.00 0.00 0.00 0.00501-0000-42301 Miscellaneous Revenue 448,800.00 519,000.00 519,000.00 911,700.00 392,700.00501-0000-43636 FMP Equipment Charges 2,860.32 0.00 0.00 0.00 0.00501-0000-45000 Sale of Other Assets 501 - FACILITY & FLEET REPLACEMENT Totals:488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 502 - INFORMATION TECHNOLOGY 2,450.86 2,000.00 2,000.00 2,500.00 500.00502-0000-41900 Allocated Interest 848,800.00 712,000.00 712,000.00 1,178,300.00 466,300.00502-0000-43610 Technology Support Charg 6,657.36 0.00 9,000.00 9,000.00 0.00502-0000-43611 Technology Enhancement 502 - INFORMATION TECHNOLOGY Totals:857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 503 - PARK EQUIP & FACILITY FUND 14,458.95 10,000.00 10,000.00 10,000.00 0.00503-0000-41900 Allocated Interest 40,104.54 0.00 0.00 0.00 0.00503-0000-42207 Capital Contributions 533,700.00 670,000.00 670,000.00 665,000.00 (5,000.00)503-0000-43620 Park Facility Charges 503 - PARK EQUIP & FACILITY FUND Totals:588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) 504 - INSURANCE FUND (258.20)0.00 0.00 1,000.00 1,000.00504-0000-41900 Allocated Interest 10,289.46 0.00 0.00 0.00 0.00504-0000-42000 Insurance Recoveries 627,000.00 1,001,000.00 1,001,000.00 922,600.00 (78,400.00)504-0000-43637 Insurance Charges 504 - INSURANCE FUND Totals:637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) INTERNAL SERVICE TOTAL 2,571,585.20 2,926,000.00 2,935,000.00 3,712,100.00 777,100.00 553.58 400.00 400.00 400.00 0.00 12,771.00 15,000.00 15,000.00 15,000.00 0.00 13,324.58 15,400.00 15,400.00 15,400.00 0.00 15,125.55 15,000.00 15,000.00 15,000.00 0.00 3,969.17 0.00 0.00 0.00 0.00 19,094.72 15,000.00 15,000.00 15,000.00 0.00 9.00 0.00 0.00 0.00 0.00 3,960.00 4,000.00 4,000.00 4,000.00 0.00 3,969.00 4,000.00 4,000.00 4,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 45,398.85 40,000.00 40,000.00 40,000.00 0.00 110,002.49 0.00 0.00 0.00 0.00 69,541.54 0.00 139,500.00 0.00 (139,500.00) 0.00 0.00 199,500.00 0.00 (199,500.00) 0.00 0.00 30,000.00 0.00 (30,000.00) 46,610.67 0.00 0.00 0.00 0.00 104,892.21 0.00 0.00 0.00 0.00 (9,434.78)0.00 0.00 0.00 0.00 31,248.20 0.00 548,428.00 81,970.00 (466,458.00) 78,888.00 0.00 0.00 0.00 0.00 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00 3,927,269.38 8,423,900.00 11,857,262.00 12,030,230.00 172,968.00 4,866,070.95 9,197,300.00 12,630,662.00 12,813,630.00 182,968.00 14,187.68 12,000.00 12,000.00 12,000.00 0.00 (8,550.68)0.00 0.00 0.00 0.00 31,000.00 0.00 0.00 0.00 0.00 84.91 0.00 0.00 0.00 0.00 448,800.00 519,000.00 519,000.00 911,700.00 392,700.00 2,860.32 0.00 0.00 0.00 0.00 488,382.23 531,000.00 531,000.00 923,700.00 392,700.00 2,450.86 2,000.00 2,000.00 2,500.00 500.00 848,800.00 712,000.00 712,000.00 1,178,300.00 466,300.00 6,657.36 0.00 9,000.00 9,000.00 0.00 857,908.22 714,000.00 723,000.00 1,189,800.00 466,800.00 14,458.95 10,000.00 10,000.00 10,000.00 0.00 40,104.54 0.00 0.00 0.00 0.00 533,700.00 670,000.00 670,000.00 665,000.00 (5,000.00) 588,263.49 680,000.00 680,000.00 675,000.00 (5,000.00) (258.20)0.00 0.00 1,000.00 1,000.00 10,289.46 0.00 0.00 0.00 0.00 627,000.00 1,001,000.00 1,001,000.00 922,600.00 (78,400.00) 637,031.26 1,001,000.00 1,001,000.00 923,600.00 (77,400.00) 2,571,585.20 2,926,000.00 2,935,000.00 3,712,100.00 777,100.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND TYPE 2018/19 PROPOSED BUDGET 9 342 ENTERPRISE FUNDS 601 - SILVERROCK RESORT 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00601-0000-44000 Green Fees 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00)601-0000-44001 Range Fees 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00601-0000-44002 Merchandise 0.00 12,000.00 12,000.00 12,000.00 0.00601-0000-44003 Food & Beverage 121,475.00 165,300.00 165,300.00 165,300.00 0.00601-0000-44004 Resident Card 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00)601-0000-49500 Transfers In 601 - SILVERROCK RESORT Totals:3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 602 - SILVERROCK GOLF RESERVE 2,027.95 2,000.00 2,000.00 2,000.00 0.00602-0000-41900 Allocated Interest 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00602-0000-49500 Transfers In 602 - SILVERROCK GOLF RESERVE Totals:59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 ENTERPRISE FUND TOTAL 3,906,747.37 4,065,500.00 4,065,500.00 4,162,800.00 97,300.00 LA QUINTA HOUSING AUTH. 241 - HOUSING AUTHORITY (17,153.91)0.00 0.00 0.00 0.00241-0000-41900 Allocated Interest 2,750,037.96 0.00 0.00 0.00 0.00241-0000-42706 Loan Repayments 0.00 0.00 93,800.00 0.00 (93,800.00)241-0000-45000 Sale of Other Assets 70,218.97 20,000.00 20,000.00 0.00 (20,000.00)241-9101-41900 Allocated Interest 655.09 0.00 0.00 0.00 0.00241-9101-41915 Non-Allocated Interest 242,599.40 0.00 0.00 0.00 0.00241-9101-43504 2nd Trust Deed Repaymen 3,113.32 0.00 0.00 0.00 0.00241-9102-41916 Non-Allocated Interest/W 194,072.00 614,800.00 614,800.00 0.00 (614,800.00)241-9102-42112 Rent Revenue/Tenant/WS (3,447.68)0.00 0.00 0.00 0.00241-9102-42113 Rent Variance - WSA 8,073.48 4,200.00 4,200.00 0.00 (4,200.00)241-9102-42302 Miscellaneous Revenue/W 433,192.00 0.00 0.00 0.00 0.00241-9102-43520 Federal Government Assis 288,018.22 280,000.00 280,000.00 0.00 (280,000.00)241-9103-43502 Rent Revenue/LQRP 241 - HOUSING AUTHORITY Totals:3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) LA QUINTA HOUSING TOTAL 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) FINANCING AUTHORITY FUND 310 - LQ FINANCE AUTHORITY DEBT SERVICE 5.15 0.00 0.00 0.00 0.00310-0000-41915 Non-Allocated Interest 678,100.34 671,400.00 671,400.00 671,600.00 200.00310-0000-42111 Rental Income 310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:678,105.49 671,400.00 671,400.00 671,600.00 200.00 FINANCING AUTHORITY TOTAL 678,105.49 671,400.00 671,400.00 671,600.00 200.00 FIDUCIARY FUND 218 - CV VIOLENT CRIME TASK FORCE 1,414.12 0.00 0.00 0.00 0.00218-0000-41900 Allocated Interest 14,976.00 0.00 0.00 0.00 0.00218-0000-43126 Member Contribution Car 1,780.24 0.00 0.00 0.00 0.00218-0000-43127 CLET Line Reimbursement 218 - CV VIOLENT CRIME TASK FORCE Totals:18,170.36 0.00 0.00 0.00 0.00 FIDUCIARY FUND TOTAL 18,170.36 0.00 0.00 0.00 0.00 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00) 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00 0.00 12,000.00 12,000.00 12,000.00 0.00 121,475.00 165,300.00 165,300.00 165,300.00 0.00 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00) 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 2,027.95 2,000.00 2,000.00 2,000.00 0.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 3,906,747.37 4,065,500.00 4,065,500.00 4,162,800.00 97,300.00 (17,153.91)0.00 0.00 0.00 0.00 2,750,037.96 0.00 0.00 0.00 0.00 0.00 0.00 93,800.00 0.00 (93,800.00) 70,218.97 20,000.00 20,000.00 0.00 (20,000.00) 655.09 0.00 0.00 0.00 0.00 242,599.40 0.00 0.00 0.00 0.00 3,113.32 0.00 0.00 0.00 0.00 194,072.00 614,800.00 614,800.00 0.00 (614,800.00) (3,447.68)0.00 0.00 0.00 0.00 8,073.48 4,200.00 4,200.00 0.00 (4,200.00) 433,192.00 0.00 0.00 0.00 0.00 288,018.22 280,000.00 280,000.00 0.00 (280,000.00) 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) 3,969,378.85 919,000.00 1,012,800.00 0.00 (1,012,800.00) 5.15 0.00 0.00 0.00 0.00 678,100.34 671,400.00 671,400.00 671,600.00 200.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 1,414.12 0.00 0.00 0.00 0.00 14,976.00 0.00 0.00 0.00 0.00 1,780.24 0.00 0.00 0.00 0.00 18,170.36 0.00 0.00 0.00 0.00 18,170.36 0.00 0.00 0.00 0.00 CITY OF LA QUINTA NON-GENERAL FUND REVENUE DETAILS BY FUND TYPE 2018/19 PROPOSED BUDGET 10 343 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 9,502.95 190,400.00 190,400.00 0.00 -190,400.00101-0000-49500 Transfers In 3,028,632.48 8,041,000.00 10,222,783.00 7,109,763.00 -3,113,020.00101-1007-99900 Transfers Out 480,500.00 293,500.00 293,500.00 255,000.00 -38,500.00201-0000-49500 Transfers In 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-99900 Transfers Out 0.00 300,000.00 300,000.00 200,000.00 -100,000.00203-0000-49500 Transfers In 112,840.70 105,600.00 164,251.00 52,000.00 -112,251.00210-0000-99900 Transfers Out 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00215-0000-49500 Transfers In 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00220-0000-99900 Transfers Out 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00223-0000-99900 Transfers Out 0.00 22,600.00 22,600.00 0.00 -22,600.00225-0000-99900 Transfers Out 203,047.04 605,100.00 830,600.00 0.00 -830,600.00250-0000-99900 Transfers Out 0.00 101,600.00 101,600.00 0.00 -101,600.00254-0000-99900 Transfers Out 3,969.17 0.00 0.00 0.00 0.00255-0000-49500 Transfers In 3,969.17 0.00 0.00 0.00 0.00256-0000-99900 Transfers Out 0.00 0.00 0.00 200,000.00 200,000.00270-0000-99900 Transfers Out 2,000.00 2,000.00 2,000.00 2,000.00 0.00275-0000-49500 Transfers In 4,057.25 0.00 0.00 0.00 0.00310-9501-99900 Transfers Out 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00401-0000-49500 Transfers In 0.00 190,400.00 190,400.00 0.00 -190,400.00401-0000-99900 Transfers Out 307,268.07 0.00 0.00 0.00 0.00405-9001-99900 Transfers Out 0.00 50,000.00 100,000.00 50,000.00 -50,000.00501-0000-99900 Transfers Out 401,300.00 434,000.00 434,000.00 100,200.00 -333,800.00601-0000-49500 Transfers In 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00601-0000-99900 Transfers Out 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00602-0000-49500 Transfers In 0.00 0.00 0.00 50,200.00 50,200.00602-0000-99900 Transfers Out 0.00 0.00 0.00 0.00 976,852.00 9,502.95 190,400.00 190,400.00 0.00 -190,400.00 3,028,632.48 8,041,000.00 10,222,783.00 7,109,763.00 -3,113,020.00 480,500.00 293,500.00 293,500.00 255,000.00 -38,500.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 0.00 300,000.00 300,000.00 200,000.00 -100,000.00 112,840.70 105,600.00 164,251.00 52,000.00 -112,251.00 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 0.00 22,600.00 22,600.00 0.00 -22,600.00 203,047.04 605,100.00 830,600.00 0.00 -830,600.00 0.00 101,600.00 101,600.00 0.00 -101,600.00 3,969.17 0.00 0.00 0.00 0.00 3,969.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 200,000.00 200,000.00 2,000.00 2,000.00 2,000.00 2,000.00 0.00 4,057.25 0.00 0.00 0.00 0.00 3,495,521.05 8,423,900.00 10,939,834.00 11,948,260.00 1,008,426.00 0.00 190,400.00 190,400.00 0.00 -190,400.00 307,268.07 0.00 0.00 0.00 0.00 0.00 50,000.00 100,000.00 50,000.00 -50,000.00 401,300.00 434,000.00 434,000.00 100,200.00 -333,800.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 0.00 0.00 0.00 50,200.00 50,200.00 0.00 0.00 0.00 0.00 976,852.00 CITY OF LA QUINTA TRANSFERS IN AND OUT SUMMARY ALL FUNDS 2018/19 PROPOSED BUDGET 11 344 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 101 - GENERAL FUND (9,502.95) (190,400.00) (190,400.00)0.00 190,400.00101-0000-49500 Transfers In 3,028,632.48 8,041,000.00 10,222,783.00 7,109,763.00 (3,113,020.00)101-1007-99900 Transfers Out 101 - GENERAL FUND Totals:3,019,129.53 7,850,600.00 10,032,383.00 7,109,763.00 (2,922,620.00) 201 - GAS TAX FUND (480,500.00) (293,500.00) (293,500.00) (255,000.00) 38,500.00201-0000-49500 Transfers In 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-99900 Transfers Out 201 - GAS TAX FUND Totals:(480,500.00) (63,000.00) (63,000.00) 420,500.00 483,500.00 203 - PUBLIC SAFETY FUND (MEASURE G) 0.00 (300,000.00) (300,000.00) (200,000.00) 100,000.00203-0000-49500 Transfers In 203 - PUBLIC SAFETY FUND (MEASURE G) Totals:0.00 (300,000.00) (300,000.00) (200,000.00) 100,000.00 210 - FEDERAL ASSISTANCE FUND 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00)210-0000-99900 Transfers Out 210 - FEDERAL ASSISTANCE FUND Totals:112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 215 - LIGHTING & LANDSCAPING FUND (488,500.00) (490,000.00) (490,000.00) (624,000.00) (134,000.00)215-0000-49500 Transfers In 215 - LIGHTING & LANDSCAPING FUND Totals:(488,500.00) (490,000.00) (490,000.00) (624,000.00) (134,000.00) 220 - QUIMBY FUND 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00220-0000-99900 Transfers Out 220 - QUIMBY FUND Totals:557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 223 - MEASURE A FUND 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00223-0000-99900 Transfers Out 223 - MEASURE A FUND Totals:664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 225 - INFRASTRUCTURE FUND 0.00 22,600.00 22,600.00 0.00 (22,600.00)225-0000-99900 Transfers Out 225 - INFRASTRUCTURE FUND Totals:0.00 22,600.00 22,600.00 0.00 (22,600.00) 250 - TRANSPORTATION DIF FUND 203,047.04 605,100.00 830,600.00 0.00 (830,600.00)250-0000-99900 Transfers Out 250 - TRANSPORTATION DIF FUND Totals:203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 254 - COMMUNITY CENTER DIF 0.00 101,600.00 101,600.00 0.00 (101,600.00)254-0000-99900 Transfers Out 254 - COMMUNITY CENTER DIF Totals:0.00 101,600.00 101,600.00 0.00 (101,600.00) 255 - STREET FACILITY DIF FUND (3,969.17)0.00 0.00 0.00 0.00255-0000-49500 Transfers In 255 - STREET FACILITY DIF FUND Totals:(3,969.17)0.00 0.00 0.00 0.00 256 - PARK FACILITY DIF FUND 3,969.17 0.00 0.00 0.00 0.00256-0000-99900 Transfers Out 256 - PARK FACILITY DIF FUND Totals:3,969.17 0.00 0.00 0.00 0.00 270 - ART IN PUBLIC PLACES FUND 0.00 0.00 0.00 200,000.00 200,000.00270-0000-99900 Transfers Out 270 - ART IN PUBLIC PLACES FUND Totals:0.00 0.00 0.00 200,000.00 200,000.00 275 - LQ PUBLIC SAFETY OFFICER (2,000.00)(2,000.00)(2,000.00)(2,000.00)0.00275-0000-49500 Transfers In 275 - LQ PUBLIC SAFETY OFFICER Totals:(2,000.00)(2,000.00)(2,000.00)(2,000.00)0.00 (9,502.95) (190,400.00) (190,400.00)0.00 190,400.00 3,028,632.48 8,041,000.00 10,222,783.00 7,109,763.00 (3,113,020.00) 3,019,129.53 7,850,600.00 10,032,383.00 7,109,763.00 (2,922,620.00) (480,500.00) (293,500.00) (293,500.00) (255,000.00) 38,500.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 (480,500.00) (63,000.00) (63,000.00) 420,500.00 483,500.00 0.00 (300,000.00) (300,000.00) (200,000.00) 100,000.00 0.00 (300,000.00) (300,000.00) (200,000.00) 100,000.00 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) (488,500.00) (490,000.00) (490,000.00) (624,000.00) (134,000.00) (488,500.00) (490,000.00) (490,000.00) (624,000.00) (134,000.00) 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) (3,969.17)0.00 0.00 0.00 0.00 (3,969.17)0.00 0.00 0.00 0.00 3,969.17 0.00 0.00 0.00 0.00 3,969.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 200,000.00 200,000.00 0.00 0.00 0.00 200,000.00 200,000.00 (2,000.00)(2,000.00)(2,000.00)(2,000.00)0.00 (2,000.00)(2,000.00)(2,000.00)(2,000.00)0.00 CITY OF LA QUINTA TRANSFERS IN AND OUT DETAILS ALL FUNDS 2018/19 PROPOSED BUDGET 12 345 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 310 - LQ FINANCE AUTHORITY DEBT SERVICE 4,057.25 0.00 0.00 0.00 0.00310-9501-99900 Transfers Out 310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:4,057.25 0.00 0.00 0.00 0.00 401 - CAPITAL IMPROVEMENT PROGRAMS (3,495,521.05) (8,423,900.00) (10,939,834.00) (11,948,260.00) (1,008,426.00)401-0000-49500 Transfers In 0.00 190,400.00 190,400.00 0.00 (190,400.00)401-0000-99900 Transfers Out 401 - CAPITAL IMPROVEMENT PROGRAMS Totals:(3,495,521.05) (8,233,500.00) (10,749,434.00) (11,948,260.00) (1,198,826.00) 405 - SA PA 1 CAPITAL IMPRV FUND 307,268.07 0.00 0.00 0.00 0.00405-9001-99900 Transfers Out 405 - SA PA 1 CAPITAL IMPRV FUND Totals:307,268.07 0.00 0.00 0.00 0.00 501 - FACILITY & FLEET REPLACEMENT 0.00 50,000.00 100,000.00 50,000.00 (50,000.00)501-0000-99900 Transfers Out 501 - FACILITY & FLEET REPLACEMENT Totals:0.00 50,000.00 100,000.00 50,000.00 (50,000.00) 601 - SILVERROCK RESORT (401,300.00) (434,000.00) (434,000.00) (100,200.00) 333,800.00601-0000-49500 Transfers In 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00601-0000-99900 Transfers Out 601 - SILVERROCK RESORT Totals:(344,220.41) (374,700.00) (374,700.00) (32,200.00) 342,500.00 602 - SILVERROCK GOLF RESERVE (57,079.59) (59,300.00) (59,300.00) (68,000.00) (8,700.00)602-0000-49500 Transfers In 0.00 0.00 0.00 50,200.00 50,200.00602-0000-99900 Transfers Out 602 - SILVERROCK GOLF RESERVE Totals:(57,079.59) (59,300.00) (59,300.00) (17,800.00) 41,500.00 0.00 0.00 0.00 0.00 0.00 4,057.25 0.00 0.00 0.00 0.00 4,057.25 0.00 0.00 0.00 0.00 (3,495,521.05) (8,423,900.00) (10,939,834.00) (11,948,260.00) (1,008,426.00) 0.00 190,400.00 190,400.00 0.00 (190,400.00) (3,495,521.05) (8,233,500.00) (10,749,434.00) (11,948,260.00) (1,198,826.00) 307,268.07 0.00 0.00 0.00 0.00 307,268.07 0.00 0.00 0.00 0.00 0.00 50,000.00 100,000.00 50,000.00 (50,000.00) 0.00 50,000.00 100,000.00 50,000.00 (50,000.00) (401,300.00) (434,000.00) (434,000.00) (100,200.00) 333,800.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 (344,220.41) (374,700.00) (374,700.00) (32,200.00) 342,500.00 (57,079.59) (59,300.00) (59,300.00) (68,000.00) (8,700.00) 0.00 0.00 0.00 50,200.00 50,200.00 (57,079.59) (59,300.00) (59,300.00) (17,800.00) 41,500.00 0.00 0.00 0.00 0.00 0.00 CITY OF LA QUINTA TRANSFERS IN AND OUT DETAILS ALL FUNDS 2018/19 PROPOSED BUDGET 13 346 THIS PAGE INTENTIONALLY LEFT BLANK 14 347 Revenue Fund: 201 - GAS TAX FUND Transfers In 255,000.00201-0000-49500 Amount General Fund - Supplement Street Maint. Operations -255,000.00 Total Fund: 201 - GAS TAX FUND : 255,000.00 Fund: 203 - PUBLIC SAFETY FUND (MEASURE G) Transfers In 200,000.00203-0000-49500 Amount From General Fund -200,000.00 From General Fund Measure G Reserves Total Fund: 203 - PUBLIC SAFETY FUND (MEASURE G):200,000.00 Fund: 215 - LIGHTING & LANDSCAPING FUND Transfers In 624,000.00215-0000-49500 Amount General Fund - Supplement Maint. Operations -624,000.00 Total Fund: 215 - LIGHTING & LANDSCAPING FUND: 624,000.00 Fund: 275 - LQ PUBLIC SAFETY OFFICER Transfers In 2,000.00275-0000-49500 Amount General Fund - Deceased LQ Officers -2,000.00 Total Fund: 275 - LQ PUBLIC SAFETY OFFICER: 2,000.00 Fund: 401 - CAPITAL IMPROVEMENT PROGRAMS Transfers In 11,948,260.00401-0000-49500 Amount Art Fund - Jefferson St. @ Avenue 53 Roundabout -5,000.00 Art Fund - SilverRock Event Space -100,000.00 Art Fund - Village Road Diet -95,000.00 CDBG - ADA Improvements -52,000.00 Equipment Replacement Fund -50,000.00 General Fund - Citywide Drainage Enhancements -477,000.00 General Fund - Citywide Pavement Rehabilitation -1,000,000.00 General Fund - Sidewalk Improvements/ADA -75,000.00 General Fund Savings - Hwy 111 Sidewalk Improve -500,000.00 General Fund Savings - Jefferson St. @ Avenue53 -630,650.00 Measure A Fund - Citywide Traffic Signals -235,000.00 Measure A Fund - Jefferson St. @ Ave53 Rndabout -800,997.00 Measure G - Citywide Drainage Improvements -1,166,500.00 Measure G - N. La Quinta Parkway Improvements -2,129,613.00 Quimby Fund - Cove Public Restroom -456,000.00 Quimby Fund - SilverRock Event Space -3,500,000.00 SB1 - Jefferson St. @ Avenue 53 Roundabout -357,500.00 SB1 - Village Road Diet -318,000.00 Total Fund: 401 - CAPITAL IMPROVEMENT PROGRAMS: 11,948,260.00 CITY OF LA QUINTA TRANSFER IN NOTES 2018/19 PROPOSED BUDGET 15 348 Fund: 601 - SILVERROCK RESORT Transfers In 100,200.00601-0000-49500 Amount General Fund - Support SilverRock Operations -50,000.00 SilverRock Reserve Fund -50,200.00 Total Fund: 601 - SILVERROCK RESORT: 100,200.00 Fund: 602 - SILVERROCK GOLF RESERVE Transfers In 68,000.00602-0000-49500 Amount SilverRock Fund -68,000.00 Total Fund: 602 - SILVERROCK GOLF RESERVE: 68,000.00 CITY OF LA QUINTA TRANSFER IN NOTES 2018/19 PROPOSED BUDGET 16 349 Expense Fund: 101 - GENERAL FUND Transfers Out 7,109,763.00101-1007-99900 Amount CIP GF - Citywide Drainage Enhancements 477,000.00 CIP GF - Citywide Pavement Project Fund 1,000,000.00 CIP GF - Sidewalk & ADA Ramp Improvements 75,000.00 CIP GF Savings - Highway 111 Sidewalk Improvements 500,000.00 CIP GF Savings -Jefferson St. @ Avenue 53 Rndabout 630,650.00 Gas Tax Fund - Supplement Street Maint. Operations 255,000.00 Law Enforcement Fund - Deceased LQ Officers 2,000.00 LLD Fund - Supplement Maint. Operations 624,000.00 Measure G - Citywide Drainage Enhancements 1,166,500.00 Measure G - Landscape Renovation Improvements 2,129,613.00 Measure G - Public Safety Fund 200,000.00 SilverRock Resort 50,000.00 Total Fund: 101 - GENERAL FUND: 7,109,763.00 Fund: 201 - GAS TAX FUND Transfers Out 675,500.00201-0000-99900 Amount CIP - Jefferson St. at Avenue 53 Roundabout 357,500.00 CIP - Village Road Diet 318,000.00 Total Fund: 201 - GAS TAX FUND : 675,500.00 Fund: 210 - FEDERAL ASSISTANCE FUND Transfers Out 52,000.00210-0000-99900 CIP - City Hall Miscellaneous Interior ADA Improvements Total Fund: 210 - FEDERAL ASSISTANCE FUND: 52,000.00 Fund: 220 - QUIMBY FUND Transfers Out 3,956,000.00220-0000-99900 Amount CIP - Cove Public Restroom 456,000.00 CIP - SilverRock Events Center 3,500,000.00 Total Fund: 220 - QUIMBY FUND: 3,956,000.00 Fund: 223 - MEASURE A FUND Transfers Out 1,035,997.00223-0000-99900 Amount CIP - Citywide Traffic Signal Maintenance Improv.235,000.00 CIP - Jefferson St. @ Avenue 53 Roundabout 800,997.00 Total Fund: 223 - MEASURE A FUND: 1,035,997.00 Fund: 270 - ART IN PUBLIC PLACES FUND Transfers Out 200,000.00270-0000-99900 Amount CIP - Jefferson St. @ Avenue 53 Roundabout 5,000.00 CIP - SilverRock Event Space 100,000.00 CIP - Village Road Diet 95,000.00 Total Fund: 270 - ART IN PUBLIC PLACES FUND: 200,000.00 Fund: 501 - FACILITY & FLEET REPLACEMENT Transfers Out 50,000.00501-0000-99900 CIP - Preventive Maintenance Plan Improvements Total Fund: 501 - FACILITY & FLEET REPLACEMENT: 50,000.00 CITY OF LA QUINTA TRANSFER OUT NOTES 2018/19 PROPOSED BUDGET 17 350 Fund: 601 - SILVERROCK RESORT Transfers Out 68,000.00601-0000-99900 Amount SilverRock Golf Reserve 68,000.00 Total Fund: 601 - SILVERROCK RESORT: 68,000.00 Fund: 602 - SILVERROCK GOLF RESERVE Transfers Out 50,200.00602-0000-99900 Amount To SilverRock Resort Operations Fund 50,200.00 Total Fund: 602 - SILVERROCK GOLF RESERVE: 50,200.00 CITY OF LA QUINTA TRANSFER OUT NOTES 2018/19 PROPOSED BUDGET 18 351 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 201 - GAS TAX FUND 3,447.65 2,000.00 2,000.00 2,000.00 0.00201-0000-41900 Allocated Interest 5,387.80 0.00 0.00 0.00 0.00201-0000-42000 Insurance Recoveries 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00201-0000-42900 Gas Tax - Section 2105 141,156.87 145,100.00 145,100.00 145,000.00 (100.00)201-0000-42905 Gas Tax - Section 2106 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00)201-0000-42910 Gas Tax - Section 2107 6,000.00 6,000.00 6,000.00 6,000.00 0.00201-0000-42915 Gas Tax - Section 2107.5 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00201-0000-42920 Gas Tax - Section 2103 0.00 45,700.00 45,700.00 46,000.00 300.00201-0000-42921 Gas Tax Loan Repayment 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-42922 Road Maint. Rehab Act (S 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00)201-0000-49500 Transfers In 201 - GAS TAX FUND Totals:1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 NON-GENERAL FUND REVENUE 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 3,447.65 2,000.00 2,000.00 2,000.00 0.00 5,387.80 0.00 0.00 0.00 0.00 224,627.57 232,400.00 232,400.00 234,000.00 1,600.00 141,156.87 145,100.00 145,100.00 145,000.00 (100.00) 284,791.25 300,200.00 300,200.00 290,000.00 (10,200.00) 6,000.00 6,000.00 6,000.00 6,000.00 0.00 106,700.51 160,000.00 160,000.00 312,000.00 152,000.00 0.00 45,700.00 45,700.00 46,000.00 300.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 480,500.00 293,500.00 293,500.00 255,000.00 (38,500.00) 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 1,252,611.65 1,415,400.00 1,415,400.00 1,965,500.00 550,100.00 CITY OF LA QUINTA GAS TAX FUND REVENUE 2018/19 PROPOSED BUDGET 19 352 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 201 - GAS TAX FUND 0000 - Undesignated 99 - Transfers Out 0.00 230,500.00 230,500.00 675,500.00 445,000.00201-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 230,500.00 230,500.00 675,500.00 445,000.00 0000 - Undesignated Totals:0.00 230,500.00 230,500.00 675,500.00 445,000.00 7003 - Streets 50 - Salaries and Benefits 572,750.34 485,900.00 492,510.00 468,800.00 (23,710.00)201-7003-50101 Permanent Full Time 858.00 900.00 900.00 1,000.00 100.00201-7003-50105 Salaries - Overtime 12,477.32 11,800.00 11,800.00 9,500.00 (2,300.00)201-7003-50106 Standby 9,297.78 8,300.00 8,300.00 6,500.00 (1,800.00)201-7003-50107 Standby Overtime 108,720.38 117,100.00 117,730.00 44,800.00 (72,930.00)201-7003-50200 PERS-City Portion 0.00 300.00 300.00 200.00 (100.00)201-7003-50210 PERS-Survivor Benefits 135,413.20 150,000.00 150,000.00 165,200.00 15,200.00201-7003-50221 Medical Insurance 2,488.10 0.00 0.00 0.00 0.00201-7003-50222 Vision Insurance 10,852.39 0.00 0.00 0.00 0.00201-7003-50223 Dental Insurance 661.47 0.00 0.00 0.00 0.00201-7003-50224 Life Insurance 5,691.42 5,300.00 5,300.00 5,100.00 (200.00)201-7003-50225 Long Term Disability 18,500.00 30,200.00 30,200.00 7,100.00 (23,100.00)201-7003-50230 Workers Comp Insurance 7,786.41 7,100.00 7,100.00 6,800.00 (300.00)201-7003-50240 Social Security-Medicare 50 - Salaries and Benefits Totals:885,496.81 816,900.00 824,140.00 715,000.00 (109,140.00) 60 - Contract Services 2,192.07 0.00 0.00 0.00 0.00201-7003-60104 Consultants 7,856.00 30,000.00 30,000.00 30,000.00 0.00201-7003-60141 Street Striping 60 - Contract Services Totals:10,048.07 30,000.00 30,000.00 30,000.00 0.00 62 - Maintenance & Operations 5,172.17 8,000.00 8,000.00 6,000.00 (2,000.00)201-7003-60427 Safety Gear 2,469.93 8,500.00 8,500.00 8,000.00 (500.00)201-7003-60428 Barricades 45,395.83 45,000.00 45,000.00 30,000.00 (15,000.00)201-7003-60429 Traffic Control Signs 3,238.45 10,000.00 10,000.00 10,000.00 0.00201-7003-60430 Asphalt 12,622.23 35,000.00 35,000.00 35,000.00 0.00201-7003-60431 Materials/Supplies 1,992.30 7,000.00 7,000.00 7,000.00 0.00201-7003-60433 Paint/Legends 7,808.64 15,000.00 15,000.00 20,000.00 5,000.00201-7003-60672 Storm Drains 5,416.65 5,000.00 5,000.00 5,000.00 0.00201-7003-60690 Uniforms 62 - Maintenance & Operations Totals:84,116.20 133,500.00 133,500.00 121,000.00 (12,500.00) 66 - Utilities 10,077.93 10,000.00 10,000.00 10,000.00 0.00201-7003-61101 Utilities - Electricity 66 - Utilities Totals:10,077.93 10,000.00 10,000.00 10,000.00 0.00 68 - Capital Expenses 4,771.20 17,000.00 17,000.00 17,000.00 0.00201-7003-61701 Equipment Rental 68 - Capital Expenses Totals:4,771.20 17,000.00 17,000.00 17,000.00 0.00 69 - Internal Service Charges 30,900.00 35,600.00 35,600.00 49,500.00 13,900.00201-7003-98110 Information Tech Charges 161,100.00 161,500.00 161,500.00 341,900.00 180,400.00201-7003-98140 Facility & Fleet Maintenance 69 - Internal Service Charges Totals:192,000.00 197,100.00 197,100.00 391,400.00 194,300.00 7003 - Streets Totals:1,186,510.21 1,204,500.00 1,211,740.00 1,284,400.00 72,660.00 201 - GAS TAX FUND Totals:1,186,510.21 1,435,000.00 1,442,240.00 1,959,900.00 517,660.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 0.00 230,500.00 230,500.00 675,500.00 445,000.00 572,750.34 485,900.00 492,510.00 468,800.00 (23,710.00) 858.00 900.00 900.00 1,000.00 100.00 12,477.32 11,800.00 11,800.00 9,500.00 (2,300.00) 9,297.78 8,300.00 8,300.00 6,500.00 (1,800.00) 108,720.38 117,100.00 117,730.00 44,800.00 (72,930.00) 0.00 300.00 300.00 200.00 (100.00) 135,413.20 150,000.00 150,000.00 165,200.00 15,200.00 2,488.10 0.00 0.00 0.00 0.00 10,852.39 0.00 0.00 0.00 0.00 661.47 0.00 0.00 0.00 0.00 5,691.42 5,300.00 5,300.00 5,100.00 (200.00) 18,500.00 30,200.00 30,200.00 7,100.00 (23,100.00) 7,786.41 7,100.00 7,100.00 6,800.00 (300.00) 885,496.81 816,900.00 824,140.00 715,000.00 (109,140.00) 2,192.07 0.00 0.00 0.00 0.00 7,856.00 30,000.00 30,000.00 30,000.00 0.00 10,048.07 30,000.00 30,000.00 30,000.00 0.00 5,172.17 8,000.00 8,000.00 6,000.00 (2,000.00) 2,469.93 8,500.00 8,500.00 8,000.00 (500.00) 45,395.83 45,000.00 45,000.00 30,000.00 (15,000.00) 3,238.45 10,000.00 10,000.00 10,000.00 0.00 12,622.23 35,000.00 35,000.00 35,000.00 0.00 1,992.30 7,000.00 7,000.00 7,000.00 0.00 7,808.64 15,000.00 15,000.00 20,000.00 5,000.00 5,416.65 5,000.00 5,000.00 5,000.00 0.00 84,116.20 133,500.00 133,500.00 121,000.00 (12,500.00) 10,077.93 10,000.00 10,000.00 10,000.00 0.00 10,077.93 10,000.00 10,000.00 10,000.00 0.00 4,771.20 17,000.00 17,000.00 17,000.00 0.00 4,771.20 17,000.00 17,000.00 17,000.00 0.00 30,900.00 35,600.00 35,600.00 49,500.00 13,900.00 161,100.00 161,500.00 161,500.00 341,900.00 180,400.00 192,000.00 197,100.00 197,100.00 391,400.00 194,300.00 1,186,510.21 1,204,500.00 1,211,740.00 1,284,400.00 72,660.00 1,186,510.21 1,435,000.00 1,442,240.00 1,959,900.00 517,660.00 CITY OF LA QUINTA GAS TAX FUND EXPENSES 2018/19 PROPOSED BUDGET 20 353 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 215 - LIGHTING & LANDSCAPING FUND 778.89 0.00 0.00 2,100.00 2,100.00215-0000-41900 Allocated Interest 6,625.72 0.00 0.00 0.00 0.00215-0000-42305 Miscellaneous Reimburse 953,698.66 958,900.00 958,900.00 959,500.00 600.00215-0000-43210 LLD Assessments 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00215-0000-49500 Transfers In 215 - LIGHTING & LANDSCAPING FUND Totals:1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 NON-GENERAL FUND REVENUE 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 778.89 0.00 0.00 2,100.00 2,100.00 6,625.72 0.00 0.00 0.00 0.00 953,698.66 958,900.00 958,900.00 959,500.00 600.00 488,500.00 490,000.00 490,000.00 624,000.00 134,000.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 1,449,603.27 1,448,900.00 1,448,900.00 1,585,600.00 136,700.00 CITY OF LA QUINTA LIGHTING AND LANDSCAPE FUND REVENUES 2018/19 PROPOSED BUDGET 21 354 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 215 - LIGHTING & LANDSCAPING FUND 7004 - Lighting & Landscaping 50 - Salaries and Benefits 65,752.32 139,200.00 147,230.00 152,700.00 5,470.00215-7004-50101 Permanent Full Time 0.00 100.00 100.00 0.00 (100.00)215-7004-50105 Salaries - Overtime 1,779.50 3,500.00 3,500.00 4,100.00 600.00215-7004-50106 Standby 803.21 3,100.00 3,100.00 2,800.00 (300.00)215-7004-50107 Standby Overtime 12,114.19 20,900.00 21,490.00 12,900.00 (8,590.00)215-7004-50200 PERS-City Portion 0.00 100.00 100.00 100.00 0.00215-7004-50210 PERS-Survivor Benefits 16,928.79 50,000.00 50,000.00 55,100.00 5,100.00215-7004-50221 Medical Insurance 253.74 0.00 0.00 0.00 0.00215-7004-50222 Vision Insurance 956.01 0.00 0.00 0.00 0.00215-7004-50223 Dental Insurance 81.69 0.00 0.00 0.00 0.00215-7004-50224 Life Insurance 602.63 1,500.00 1,500.00 1,700.00 200.00215-7004-50225 Long Term Disability 3,400.00 7,100.00 7,100.00 3,800.00 (3,300.00)215-7004-50230 Workers Comp Insurance 990.76 2,000.00 2,000.00 2,300.00 300.00215-7004-50240 Social Security-Medicare 50 - Salaries and Benefits Totals:103,662.84 227,500.00 236,120.00 235,500.00 (620.00) 60 - Contract Services 15,347.32 15,000.00 15,000.00 15,000.00 0.00215-7004-60102 Administration 84,057.65 178,000.00 126,000.00 178,000.00 52,000.00215-7004-60104 Consultants 534,567.43 510,200.00 520,200.00 550,000.00 29,800.00215-7004-60112 Landscape Contract 65,786.00 65,000.00 65,000.00 65,000.00 0.00215-7004-60143 SilverRock Way Landscape 60 - Contract Services Totals:699,758.40 768,200.00 726,200.00 808,000.00 81,800.00 62 - Maintenance & Operations 285.00 500.00 500.00 500.00 0.00215-7004-60320 Travel & Training 5,736.68 30,000.00 30,000.00 20,000.00 (10,000.00)215-7004-60420 Operating Supplies 3,385.84 12,000.00 12,000.00 12,000.00 0.00215-7004-60423 Supplies-Graffiti and Vandalism 503.10 500.00 500.00 500.00 0.00215-7004-60427 Safety Gear 40,691.54 64,000.00 64,000.00 64,000.00 0.00215-7004-60431 Materials/Supplies 300.39 500.00 2,500.00 2,500.00 0.00215-7004-60432 Tools/Equipment 8,655.00 15,000.00 15,000.00 15,000.00 0.00215-7004-60673 Palm Trees 1,032.55 1,000.00 1,000.00 1,000.00 0.00215-7004-60690 Uniforms 0.00 0.00 40,000.00 40,000.00 0.00215-7004-60691 Maintenance/Services 62 - Maintenance & Operations Totals:60,590.10 123,500.00 165,500.00 155,500.00 (10,000.00) 66 - Utilities 79,101.61 90,000.00 90,000.00 80,000.00 (10,000.00)215-7004-61116 Utilities - Electric 35,562.35 45,000.00 45,000.00 40,000.00 (5,000.00)215-7004-61117 Utilities - Electric - Medians 250,562.56 220,000.00 220,000.00 200,000.00 (20,000.00)215-7004-61211 Utilities - Water - Medians 66 - Utilities Totals:365,226.52 355,000.00 355,000.00 320,000.00 (35,000.00) 69 - Internal Service Charges 13,800.00 22,000.00 22,000.00 31,100.00 9,100.00215-7004-98110 Information Tech Charges 1,200.00 23,100.00 23,100.00 32,600.00 9,500.00215-7004-98140 Facility & Fleet Maintenance 69 - Internal Service Charges Totals:15,000.00 45,100.00 45,100.00 63,700.00 18,600.00 7004 - Lighting & Landscaping Totals:1,244,237.86 1,519,300.00 1,527,920.00 1,582,700.00 54,780.00 215 - LIGHTING & LANDSCAPING FUND Totals:1,244,237.86 1,519,300.00 1,527,920.00 1,582,700.00 54,780.00 65,752.32 139,200.00 147,230.00 152,700.00 5,470.00 0.00 100.00 100.00 0.00 (100.00) 1,779.50 3,500.00 3,500.00 4,100.00 600.00 803.21 3,100.00 3,100.00 2,800.00 (300.00) 12,114.19 20,900.00 21,490.00 12,900.00 (8,590.00) 0.00 100.00 100.00 100.00 0.00 16,928.79 50,000.00 50,000.00 55,100.00 5,100.00 253.74 0.00 0.00 0.00 0.00 956.01 0.00 0.00 0.00 0.00 81.69 0.00 0.00 0.00 0.00 602.63 1,500.00 1,500.00 1,700.00 200.00 3,400.00 7,100.00 7,100.00 3,800.00 (3,300.00) 990.76 2,000.00 2,000.00 2,300.00 300.00 103,662.84 227,500.00 236,120.00 235,500.00 (620.00) 15,347.32 15,000.00 15,000.00 15,000.00 0.00 84,057.65 178,000.00 126,000.00 178,000.00 52,000.00 534,567.43 510,200.00 520,200.00 550,000.00 29,800.00 65,786.00 65,000.00 65,000.00 65,000.00 0.00 699,758.40 768,200.00 726,200.00 808,000.00 81,800.00 285.00 500.00 500.00 500.00 0.00 5,736.68 30,000.00 30,000.00 20,000.00 (10,000.00) 3,385.84 12,000.00 12,000.00 12,000.00 0.00 503.10 500.00 500.00 500.00 0.00 40,691.54 64,000.00 64,000.00 64,000.00 0.00 300.39 500.00 2,500.00 2,500.00 0.00 8,655.00 15,000.00 15,000.00 15,000.00 0.00 1,032.55 1,000.00 1,000.00 1,000.00 0.00 0.00 0.00 40,000.00 40,000.00 0.00 60,590.10 123,500.00 165,500.00 155,500.00 (10,000.00) 79,101.61 90,000.00 90,000.00 80,000.00 (10,000.00) 35,562.35 45,000.00 45,000.00 40,000.00 (5,000.00) 250,562.56 220,000.00 220,000.00 200,000.00 (20,000.00) 365,226.52 355,000.00 355,000.00 320,000.00 (35,000.00) 13,800.00 22,000.00 22,000.00 31,100.00 9,100.00 1,200.00 23,100.00 23,100.00 32,600.00 9,500.00 15,000.00 45,100.00 45,100.00 63,700.00 18,600.00 1,244,237.86 1,519,300.00 1,527,920.00 1,582,700.00 54,780.00 1,244,237.86 1,519,300.00 1,527,920.00 1,582,700.00 54,780.00 CITY OF LA QUINTA LIGHTING AND LANDSCAPE FUND EXPENSES 2018/19 PROPOSED BUDGET 22 355 The Housing Authority Fund budget will be presented to the Housing Commission on May 23 and subsequently to City Council on June 5 with final adoption on June 19. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 23 356 THIS PAGE INTENTIONALLY LEFT BLANK 24 357 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 310 - LQ FINANCE AUTHORITY DEBT SERVICE 5.15 0.00 0.00 0.00 0.00310-0000-41915 Non-Allocated Interest 678,100.34 671,400.00 671,400.00 671,600.00 200.00310-0000-42111 Rental Income 310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:678,105.49 671,400.00 671,400.00 671,600.00 200.00 NON-GENERAL FUND REVENUE 678,105.49 671,400.00 671,400.00 671,600.00 200.00 5.15 0.00 0.00 0.00 0.00 678,100.34 671,400.00 671,400.00 671,600.00 200.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 678,105.49 671,400.00 671,400.00 671,600.00 200.00 CITY OF LA QUINTA FINANCE AUTHORITY FUND REVENUE 2018/19 PROPOSED BUDGET 25 358 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 310 - LQ FINANCE AUTHORITY DEBT SERVICE 9501 - 9501 - Financing Authority 60 - Contract Services 2,533.00 2,800.00 2,800.00 3,000.00 200.00310-9501-60102 Administration 169.00 500.00 500.00 500.00 0.00310-9501-60181 Contract Services Fees 60 - Contract Services Totals:2,702.00 3,300.00 3,300.00 3,500.00 200.00 68 - Capital Expenses 585,000.00 615,000.00 615,000.00 650,000.00 35,000.00310-9501-82130 1996 FA Bonds Principal 86,441.25 53,100.00 53,100.00 18,100.00 (35,000.00)310-9501-83370 1996 FA Series Bonds Interest 68 - Capital Expenses Totals:671,441.25 668,100.00 668,100.00 668,100.00 0.00 99 - Transfers Out 4,057.25 0.00 0.00 0.00 0.00310-9501-99900 Transfers Out 99 - Transfers Out Totals:4,057.25 0.00 0.00 0.00 0.00 9501 - 9501 - Financing Authority Totals:678,200.50 671,400.00 671,400.00 671,600.00 200.00 310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:678,200.50 671,400.00 671,400.00 671,600.00 200.00 2,533.00 2,800.00 2,800.00 3,000.00 200.00 169.00 500.00 500.00 500.00 0.00 2,702.00 3,300.00 3,300.00 3,500.00 200.00 585,000.00 615,000.00 615,000.00 650,000.00 35,000.00 86,441.25 53,100.00 53,100.00 18,100.00 (35,000.00) 671,441.25 668,100.00 668,100.00 668,100.00 0.00 4,057.25 0.00 0.00 0.00 0.00 4,057.25 0.00 0.00 0.00 0.00 678,200.50 671,400.00 671,400.00 671,600.00 200.00 678,200.50 671,400.00 671,400.00 671,600.00 200.00 CITY OF LA QUINTA FINANCE AUTHORITY FUND EXPENSES 2018/19 PROPOSED BUDGET 26 359 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 601 - SILVERROCK RESORT 0000 - Undesignated 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00601-0000-44000 Green Fees 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00)601-0000-44001 Range Fees 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00601-0000-44002 Merchandise 0.00 12,000.00 12,000.00 12,000.00 0.00601-0000-44003 Food & Beverage 121,475.00 165,300.00 165,300.00 165,300.00 0.00601-0000-44004 Resident Card 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00)601-0000-49500 Transfers In 0000 - Undesignated Totals:3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 601 - SILVERROCK RESORT Totals:3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 2,960,843.13 2,964,100.00 2,964,100.00 3,401,300.00 437,200.00 142,544.00 166,800.00 166,800.00 136,800.00 (30,000.00) 221,477.70 262,000.00 262,000.00 277,200.00 15,200.00 0.00 12,000.00 12,000.00 12,000.00 0.00 121,475.00 165,300.00 165,300.00 165,300.00 0.00 401,300.00 434,000.00 434,000.00 100,200.00 (333,800.00) 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 3,847,639.83 4,004,200.00 4,004,200.00 4,092,800.00 88,600.00 CITY OF LA QUINTA ENTERPRISE FUND REVENUE SUMMARY 2018/19 PROPOSED BUDGET 27 360 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 602 - SILVERROCK GOLF RESERVE 0000 - Undesignated 2,027.95 2,000.00 2,000.00 2,000.00 0.00602-0000-41900 Allocated Interest 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00602-0000-49500 Transfers In 0000 - Undesignated Totals:59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 602 - SILVERROCK GOLF RESERVE Totals:59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 2,027.95 2,000.00 2,000.00 2,000.00 0.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 59,107.54 61,300.00 61,300.00 70,000.00 8,700.00 CITY OF LA QUINTA ENTERPRISE FUND REVENUE SUMMARY 2018/19 PROPOSED BUDGET 28 361 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 601 - SILVERROCK RESORT 0000 - Undesignated Salaries and Benefits 33,848.05 28,200.00 30,080.00 31,200.00 1,120.00601-0000-50101 Permanent Full Time 7,361.61 7,400.00 7,590.00 3,400.00 (4,190.00)601-0000-50200 PERS-City Portion 0.00 100.00 100.00 100.00 0.00601-0000-50210 PERS-Survivor Benefits 3,766.77 3,600.00 3,600.00 4,100.00 500.00601-0000-50221 Medical Insurance 369.33 0.00 0.00 0.00 0.00601-0000-50223 Dental Insurance 40.61 0.00 0.00 0.00 0.00601-0000-50224 Life Insurance 238.12 300.00 300.00 400.00 100.00601-0000-50225 Long Term Disability 1,000.00 0.00 0.00 0.00 0.00601-0000-50230 Workers Comp Insurance 490.82 400.00 400.00 500.00 100.00601-0000-50240 Social Security-Medicare 50 - Salaries and Benefits Totals:47,115.31 40,000.00 42,070.00 39,700.00 (2,370.00) Contract Services 339,791.79 251,700.00 251,700.00 268,800.00 17,100.00601-0000-60200 Cart Barn/Range 353,347.14 200,000.00 200,000.00 221,100.00 21,100.00601-0000-60201 Golf Shop 0.00 80,200.00 80,200.00 85,900.00 5,700.00601-0000-60202 Course Services 1,763,934.26 1,735,800.00 1,735,800.00 1,740,500.00 4,700.00601-0000-60203 Maintenance 0.00 249,800.00 249,800.00 249,900.00 100.00601-0000-60204 Landscape 315,548.35 329,100.00 329,100.00 329,100.00 0.00601-0000-60205 General & Administrative 230,099.53 231,000.00 231,000.00 230,000.00 (1,000.00)601-0000-60206 Marketing 121,658.81 136,400.00 136,400.00 136,400.00 0.00601-0000-60207 Temporary Club House 95,180.80 108,000.00 108,000.00 114,000.00 6,000.00601-0000-60208 Management Fee 76,902.78 32,400.00 32,400.00 48,000.00 15,600.00601-0000-60209 Insurance 10,871.10 11,800.00 11,800.00 11,800.00 0.00601-0000-60210 Property Tax 233,744.21 321,100.00 321,100.00 309,300.00 (11,800.00)601-0000-60211 Rental Payment 0.00 146,600.00 146,600.00 155,100.00 8,500.00601-0000-60212 Pro Shop Product Cost 529.95 0.00 0.00 0.00 0.00601-0000-60217 Food & Bev Product Cost 60 - Contract Services Totals:3,541,608.72 3,833,900.00 3,833,900.00 3,899,900.00 66,000.00 Maintenance & Operations 9,461.63 0.00 0.00 0.00 0.00601-0000-60214 Tamarisk Removal Pump Repair 0.00 1,500.00 1,500.00 1,500.00 0.00601-0000-60320 Travel & Training 520.00 6,700.00 6,700.00 6,700.00 0.00601-0000-60351 Membership Dues 79,325.54 45,000.00 45,000.00 50,000.00 5,000.00601-0000-60455 Bank Fees 13,926.29 0.00 0.00 0.00 0.00601-0000-60660 Repair & Maintenance 62 - Maintenance & Operations Totals:103,233.46 53,200.00 53,200.00 58,200.00 5,000.00 Capital Expenses 219,032.52 0.00 0.00 0.00 0.00601-0000-71122 Depreciation Expense - Community S 2,662.97 0.00 0.00 0.00 0.00601-0000-72011 Depreciation Expense 36,711.65 17,000.00 17,000.00 25,000.00 8,000.00601-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:258,407.14 17,000.00 17,000.00 25,000.00 8,000.00 Internal Service Charges 2,000.00 0.00 0.00 0.00 0.00601-0000-98110 Information Tech Charges 500.00 0.00 0.00 0.00 0.00601-0000-98140 Facility & Fleet Maintenance 69 - Internal Service Charges Totals:2,500.00 0.00 0.00 0.00 0.00 Transfers Out 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00601-0000-99900 Transfers Out 99 - Transfers Out Totals:57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 0000 - Undesignated Totals:4,009,944.22 4,003,400.00 4,005,470.00 4,090,800.00 85,330.00 601 - SILVERROCK RESORT Totals:4,009,944.22 4,003,400.00 4,005,470.00 4,090,800.00 85,330.00 33,848.05 28,200.00 30,080.00 31,200.00 1,120.00 7,361.61 7,400.00 7,590.00 3,400.00 (4,190.00) 0.00 100.00 100.00 100.00 0.00 3,766.77 3,600.00 3,600.00 4,100.00 500.00 369.33 0.00 0.00 0.00 0.00 40.61 0.00 0.00 0.00 0.00 238.12 300.00 300.00 400.00 100.00 1,000.00 0.00 0.00 0.00 0.00 490.82 400.00 400.00 500.00 100.00 47,115.31 40,000.00 42,070.00 39,700.00 (2,370.00) 339,791.79 251,700.00 251,700.00 268,800.00 17,100.00 353,347.14 200,000.00 200,000.00 221,100.00 21,100.00 0.00 80,200.00 80,200.00 85,900.00 5,700.00 1,763,934.26 1,735,800.00 1,735,800.00 1,740,500.00 4,700.00 0.00 249,800.00 249,800.00 249,900.00 100.00 315,548.35 329,100.00 329,100.00 329,100.00 0.00 230,099.53 231,000.00 231,000.00 230,000.00 (1,000.00) 121,658.81 136,400.00 136,400.00 136,400.00 0.00 95,180.80 108,000.00 108,000.00 114,000.00 6,000.00 76,902.78 32,400.00 32,400.00 48,000.00 15,600.00 10,871.10 11,800.00 11,800.00 11,800.00 0.00 233,744.21 321,100.00 321,100.00 309,300.00 (11,800.00) 0.00 146,600.00 146,600.00 155,100.00 8,500.00 529.95 0.00 0.00 0.00 0.00 3,541,608.72 3,833,900.00 3,833,900.00 3,899,900.00 66,000.00 9,461.63 0.00 0.00 0.00 0.00 0.00 1,500.00 1,500.00 1,500.00 0.00 520.00 6,700.00 6,700.00 6,700.00 0.00 79,325.54 45,000.00 45,000.00 50,000.00 5,000.00 13,926.29 0.00 0.00 0.00 0.00 103,233.46 53,200.00 53,200.00 58,200.00 5,000.00 219,032.52 0.00 0.00 0.00 0.00 2,662.97 0.00 0.00 0.00 0.00 36,711.65 17,000.00 17,000.00 25,000.00 8,000.00 258,407.14 17,000.00 17,000.00 25,000.00 8,000.00 2,000.00 0.00 0.00 0.00 0.00 500.00 0.00 0.00 0.00 0.00 2,500.00 0.00 0.00 0.00 0.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 57,079.59 59,300.00 59,300.00 68,000.00 8,700.00 4,009,944.22 4,003,400.00 4,005,470.00 4,090,800.00 85,330.00 4,009,944.22 4,003,400.00 4,005,470.00 4,090,800.00 85,330.00 CITY OF LA QUINTA ENTERPRISE FUND EXPENDITURE SUMMARY 2018/19 PROPOSED BUDGET 29 362 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 602 - SILVERROCK GOLF RESERVE 0000 - Undesignated Capital Expenses 12,782.25 0.00 0.00 0.00 0.00602-0000-80100 Machinery & Equipment 68 - Capital Expenses Totals:12,782.25 0.00 0.00 0.00 0.00 Transfers Out 0.00 0.00 0.00 50,200.00 50,200.00602-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 0.00 0.00 50,200.00 50,200.00 0000 - Undesignated Totals:12,782.25 0.00 0.00 50,200.00 50,200.00 602 - SILVERROCK GOLF RESERVE Totals:12,782.25 0.00 0.00 50,200.00 50,200.00 12,782.25 0.00 0.00 0.00 0.00 12,782.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50,200.00 50,200.00 0.00 0.00 0.00 50,200.00 50,200.00 12,782.25 0.00 0.00 50,200.00 50,200.00 12,782.25 0.00 0.00 50,200.00 50,200.00 CITY OF LA QUINTA ENTERPRISE FUND EXPENDITURE SUMMARY 2018/19 PROPOSED BUDGET 30 363 2016/17 Actual Revenue 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 202 - LIBRARY & MUSEUM FUND 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00202-0000-41720 County Government Reve 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00202-0000-41900 Allocated Interest 202 - LIBRARY & MUSEUM FUND Totals:2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 NON-GENERAL FUND REVENUE 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 2,403,350.01 2,244,000.00 2,244,000.00 2,288,000.00 44,000.00 22,029.99 10,000.00 10,000.00 20,000.00 10,000.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 2,425,380.00 2,254,000.00 2,254,000.00 2,308,000.00 54,000.00 CITY OF LA QUINTA LIBRARY AND MUSEUM FUND REVENUE 2018/19 PROPOSED BUDGET 31 364 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 202 - LIBRARY & MUSEUM FUND 3004 - Library 60 - Contract Services 18,900.00 40,000.00 40,000.00 26,000.00 (14,000.00)202-3004-60112 Landscape Contract 0.00 20,000.00 20,000.00 0.00 (20,000.00)202-3004-60113 Landscape Improvements 1,039,210.21 900,000.00 900,000.00 950,000.00 50,000.00202-3004-60114 County of Riverside - Library 22,740.00 24,000.00 24,000.00 18,000.00 (6,000.00)202-3004-60115 Janitorial 740.00 1,500.00 1,500.00 1,000.00 (500.00)202-3004-60116 Pest Control 1,680.00 3,000.00 3,000.00 2,000.00 (1,000.00)202-3004-60123 Security & Alarm 60 - Contract Services Totals:1,083,270.21 988,500.00 988,500.00 997,000.00 8,500.00 62 - Maintenance & Operations 2,422.66 120,000.00 120,000.00 120,000.00 0.00202-3004-60420 Operating Supplies 0.00 1,000.00 1,000.00 500.00 (500.00)202-3004-60423 Supplies-Graffiti and Vandalism 474.25 200.00 200.00 0.00 (200.00)202-3004-60432 Tools/Equipment 0.00 40,000.00 0.00 0.00 0.00202-3004-60441 Liability/SIR 2,750.00 5,000.00 0.00 0.00 0.00202-3004-60443 Property 0.00 15,000.00 0.00 0.00 0.00202-3004-60447 Earthquake/Flood 0.00 137,100.00 137,100.00 0.00 (137,100.00)202-3004-60540 Facility Rentals 170.68 500.00 500.00 500.00 0.00202-3004-60664 Fire Extinguisher Service 1,965.53 2,000.00 2,000.00 2,000.00 0.00202-3004-60665 Maint-Other Equipment 46,073.19 5,000.00 40,000.00 8,000.00 (32,000.00)202-3004-60667 HVAC 5,670.49 15,000.00 15,000.00 15,000.00 0.00202-3004-60691 Maintenance/Services 62 - Maintenance & Operations Totals:59,526.80 340,800.00 315,800.00 146,000.00 (169,800.00) 66 - Utilities 1,942.57 2,500.00 2,500.00 1,000.00 (1,500.00)202-3004-61100 Utilities - Gas 38,211.19 45,000.00 45,000.00 47,000.00 2,000.00202-3004-61101 Utilities - Electricity 413.98 1,500.00 1,500.00 500.00 (1,000.00)202-3004-61200 Utilities - Water 66 - Utilities Totals:40,567.74 49,000.00 49,000.00 48,500.00 (500.00) 68 - Capital Expenses 22,576.00 20,000.00 20,000.00 20,000.00 0.00202-3004-71020 Furniture 0.00 150,000.00 150,000.00 0.00 (150,000.00)202-3004-72110 Building Improvements 3,866.03 15,000.00 15,000.00 0.00 (15,000.00)202-3004-80100 Machinery & Equipment 68 - Capital Expenses Totals:26,442.03 185,000.00 185,000.00 20,000.00 (165,000.00) 69 - Internal Service Charges 42,400.00 0.00 40,000.00 12,000.00 (28,000.00)202-3004-91842 Liability Insurance & Claims 3,800.00 0.00 5,000.00 5,000.00 0.00202-3004-91843 Property & Crime Insurance 18,000.00 0.00 15,000.00 10,000.00 (5,000.00)202-3004-91844 Earthquake Insurance 11,500.00 0.00 0.00 0.00 0.00202-3004-98140 Facility & Fleet Maintenance 69 - Internal Service Charges Totals:75,700.00 0.00 60,000.00 27,000.00 (33,000.00) 3004 - Library Totals:1,285,506.78 1,563,300.00 1,598,300.00 1,238,500.00 (359,800.00) 18,900.00 40,000.00 40,000.00 26,000.00 (14,000.00) 0.00 20,000.00 20,000.00 0.00 (20,000.00) 1,039,210.21 900,000.00 900,000.00 950,000.00 50,000.00 22,740.00 24,000.00 24,000.00 18,000.00 (6,000.00) 740.00 1,500.00 1,500.00 1,000.00 (500.00) 1,680.00 3,000.00 3,000.00 2,000.00 (1,000.00) 1,083,270.21 988,500.00 988,500.00 997,000.00 8,500.00 2,422.66 120,000.00 120,000.00 120,000.00 0.00 0.00 1,000.00 1,000.00 500.00 (500.00) 474.25 200.00 200.00 0.00 (200.00) 0.00 40,000.00 0.00 0.00 0.00 2,750.00 5,000.00 0.00 0.00 0.00 0.00 15,000.00 0.00 0.00 0.00 0.00 137,100.00 137,100.00 0.00 (137,100.00) 170.68 500.00 500.00 500.00 0.00 1,965.53 2,000.00 2,000.00 2,000.00 0.00 46,073.19 5,000.00 40,000.00 8,000.00 (32,000.00) 5,670.49 15,000.00 15,000.00 15,000.00 0.00 59,526.80 340,800.00 315,800.00 146,000.00 (169,800.00) 1,942.57 2,500.00 2,500.00 1,000.00 (1,500.00) 38,211.19 45,000.00 45,000.00 47,000.00 2,000.00 413.98 1,500.00 1,500.00 500.00 (1,000.00) 40,567.74 49,000.00 49,000.00 48,500.00 (500.00) 22,576.00 20,000.00 20,000.00 20,000.00 0.00 0.00 150,000.00 150,000.00 0.00 (150,000.00) 3,866.03 15,000.00 15,000.00 0.00 (15,000.00) 26,442.03 185,000.00 185,000.00 20,000.00 (165,000.00) 42,400.00 0.00 40,000.00 12,000.00 (28,000.00) 3,800.00 0.00 5,000.00 5,000.00 0.00 18,000.00 0.00 15,000.00 10,000.00 (5,000.00) 11,500.00 0.00 0.00 0.00 0.00 75,700.00 0.00 60,000.00 27,000.00 (33,000.00) 1,285,506.78 1,563,300.00 1,598,300.00 1,238,500.00 (359,800.00) CITY OF LA QUINTA LIBRARY AND MUSEUM FUND EXPENSES 2018/19 PROPOSED BUDGET 32 365 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 3006 - Museum 60 - Contract Services 195,480.00 195,000.00 195,000.00 210,000.00 15,000.00202-3006-60105 Museum Operations 13,636.10 24,000.00 26,000.00 15,000.00 (11,000.00)202-3006-60112 Landscape Contract (126,409.00)0.00 0.00 0.00 0.00202-3006-60114 County of Riverside - Museum 6,300.00 7,000.00 7,000.00 5,000.00 (2,000.00)202-3006-60115 Janitorial 511.00 1,000.00 1,000.00 1,000.00 0.00202-3006-60116 Pest Control 1,689.00 1,700.00 1,700.00 1,700.00 0.00202-3006-60123 Security & Alarm 0.00 10,000.00 10,000.00 10,000.00 0.00202-3006-60137 Community Special Events 60 - Contract Services Totals:91,207.10 238,700.00 240,700.00 242,700.00 2,000.00 61 - Office Supplies 205.31 0.00 0.00 0.00 0.00202-3006-60410 Printing 61 - Office Supplies Totals:205.31 0.00 0.00 0.00 0.00 62 - Maintenance & Operations 380.29 300.00 300.00 300.00 0.00202-3006-60122 Credit Card Fees 754.62 30,000.00 30,000.00 30,000.00 0.00202-3006-60420 Operating Supplies 656.67 0.00 0.00 0.00 0.00202-3006-60432 Tools/Equipment 0.00 15,000.00 15,000.00 0.00 (15,000.00)202-3006-60441 Liability/SIR 0.00 1,500.00 1,500.00 0.00 (1,500.00)202-3006-60443 Property 0.00 6,000.00 6,000.00 0.00 (6,000.00)202-3006-60447 Earthquake/Flood 81.91 500.00 500.00 500.00 0.00202-3006-60664 Fire Extinguisher Service 0.00 2,500.00 2,500.00 10,000.00 7,500.00202-3006-60665 Maint-Other Equipment 2,570.32 3,000.00 13,000.00 3,000.00 (10,000.00)202-3006-60667 HVAC 22,439.32 16,000.00 16,000.00 15,000.00 (1,000.00)202-3006-60691 Maintenance/Services 62 - Maintenance & Operations Totals:26,883.13 74,800.00 84,800.00 58,800.00 (26,000.00) 66 - Utilities 14.79 100.00 100.00 100.00 0.00202-3006-61100 Utilities - Gas 11,402.04 12,000.00 12,000.00 12,000.00 0.00202-3006-61101 Utilities - Electricity 1,995.81 1,700.00 1,700.00 1,700.00 0.00202-3006-61200 Utilities - Water 1,490.86 1,900.00 1,900.00 1,400.00 (500.00)202-3006-61300 Utilities - Telephone 66 - Utilities Totals:14,903.50 15,700.00 15,700.00 15,200.00 (500.00) 68 - Capital Expenses 0.00 0.00 530,000.00 0.00 (530,000.00)202-3006-74010 Land Acquisition 6,568.70 55,000.00 55,000.00 0.00 (55,000.00)202-3006-80100 Machinery & Equipment 68 - Capital Expenses Totals:6,568.70 55,000.00 585,000.00 0.00 (585,000.00) 69 - Internal Service Charges 15,200.00 0.00 0.00 15,500.00 15,500.00202-3006-91842 Liability Insurance & Claims 1,400.00 0.00 0.00 5,500.00 5,500.00202-3006-91843 Property & Crime Insurance 5,600.00 0.00 0.00 12,000.00 12,000.00202-3006-91844 Earthquake Insurance 2,800.00 0.00 0.00 0.00 0.00202-3006-98140 Facility & Fleet Maintenance 69 - Internal Service Charges Totals:25,000.00 0.00 0.00 33,000.00 33,000.00 3006 - Museum Totals:164,767.74 384,200.00 926,200.00 349,700.00 (576,500.00) 202 - LIBRARY & MUSEUM FUND Totals:1,450,274.52 1,947,500.00 2,524,500.00 1,588,200.00 (936,300.00) 195,480.00 195,000.00 195,000.00 210,000.00 15,000.00 13,636.10 24,000.00 26,000.00 15,000.00 (11,000.00) (126,409.00)0.00 0.00 0.00 0.00 6,300.00 7,000.00 7,000.00 5,000.00 (2,000.00) 511.00 1,000.00 1,000.00 1,000.00 0.00 1,689.00 1,700.00 1,700.00 1,700.00 0.00 0.00 10,000.00 10,000.00 10,000.00 0.00 91,207.10 238,700.00 240,700.00 242,700.00 2,000.00 205.31 0.00 0.00 0.00 0.00 205.31 0.00 0.00 0.00 0.00 380.29 300.00 300.00 300.00 0.00 754.62 30,000.00 30,000.00 30,000.00 0.00 656.67 0.00 0.00 0.00 0.00 0.00 15,000.00 15,000.00 0.00 (15,000.00) 0.00 1,500.00 1,500.00 0.00 (1,500.00) 0.00 6,000.00 6,000.00 0.00 (6,000.00) 81.91 500.00 500.00 500.00 0.00 0.00 2,500.00 2,500.00 10,000.00 7,500.00 2,570.32 3,000.00 13,000.00 3,000.00 (10,000.00) 22,439.32 16,000.00 16,000.00 15,000.00 (1,000.00) 26,883.13 74,800.00 84,800.00 58,800.00 (26,000.00) 14.79 100.00 100.00 100.00 0.00 11,402.04 12,000.00 12,000.00 12,000.00 0.00 1,995.81 1,700.00 1,700.00 1,700.00 0.00 1,490.86 1,900.00 1,900.00 1,400.00 (500.00) 14,903.50 15,700.00 15,700.00 15,200.00 (500.00) 0.00 0.00 530,000.00 0.00 (530,000.00) 6,568.70 55,000.00 55,000.00 0.00 (55,000.00) 6,568.70 55,000.00 585,000.00 0.00 (585,000.00) 15,200.00 0.00 0.00 15,500.00 15,500.00 1,400.00 0.00 0.00 5,500.00 5,500.00 5,600.00 0.00 0.00 12,000.00 12,000.00 2,800.00 0.00 0.00 0.00 0.00 25,000.00 0.00 0.00 33,000.00 33,000.00 164,767.74 384,200.00 926,200.00 349,700.00 (576,500.00) 1,450,274.52 1,947,500.00 2,524,500.00 1,588,200.00 (936,300.00) CITY OF LA QUINTA LIBRARY AND MUSEUM FUND EXPENSES 2018/19 PROPOSED BUDGET 33 366 THIS PAGE INTENTIONALLY LEFT BLANK 34 367 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 210 - FEDERAL ASSISTANCE FUND 112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) Contract Services 0.00 20,200.00 20,200.00 20,000.00 (200.00) Transfers Out 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 212 - SLESA (COPS) FUND 117,242.49 100,000.00 100,000.00 100,000.00 0.00 Contract Services 117,242.49 100,000.00 100,000.00 100,000.00 0.00 218 - CV VIOLENT CRIME TASK FORCE 185,616.04 0.00 0.00 0.00 0.00 Contract Services 100.00 0.00 0.00 0.00 0.00 Maintenance & Operations 7,529.54 0.00 0.00 0.00 0.00 Other Expenses 176,000.62 0.00 0.00 0.00 0.00 Utilities 1,985.88 0.00 0.00 0.00 0.00 220 - QUIMBY FUND 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 Transfers Out 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 221 - AB 939 - CALRECYCLE FUND 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 Contract Services 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 223 - MEASURE A FUND 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 Transfers Out 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 225 - INFRASTRUCTURE FUND 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00)Transfers Out 230 - CASp FUND, AB 1379 0.00 0.00 0.00 4,000.00 4,000.00 Other Expenses 0.00 0.00 0.00 400.00 400.00 Capital Expenses 0.00 0.00 0.00 3,600.00 3,600.00 235 - SO COAST AIR QUALITY FUND 38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 Contract Services 38,287.83 32,000.00 32,000.00 34,000.00 2,000.00 Capital Expenses 0.00 0.00 17,000.00 20,000.00 3,000.00 250 - TRANSPORTATION DIF FUND 203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) Capital Expenses 0.00 400,000.00 400,000.00 400,000.00 0.00 Transfers Out 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 252 - CIVIC CENTER DIF FUND 55,993.96 0.00 0.00 110,000.00 110,000.00 Capital Expenses 55,993.96 0.00 0.00 110,000.00 110,000.00 253 - LIBRARY DEVELOPMENT DIF 12,890.49 0.00 0.00 30,000.00 30,000.00 Capital Expenses 12,890.49 0.00 0.00 30,000.00 30,000.00 254 - COMMUNITY CENTER DIF 0.00 101,600.00 101,600.00 0.00 (101,600.00) Transfers Out 0.00 101,600.00 101,600.00 0.00 (101,600.00) 255 - STREET FACILITY DIF FUND 15,190.78 0.00 0.00 15,000.00 15,000.00 Capital Expenses 15,190.78 0.00 0.00 15,000.00 15,000.00 256 - PARK FACILITY DIF FUND 3,969.17 0.00 0.00 4,000.00 4,000.00 Capital Expenses 0.00 0.00 0.00 4,000.00 4,000.00 Transfers Out 3,969.17 0.00 0.00 0.00 0.00 257 - FIRE PROTECTION DIF 4,580.57 0.00 0.00 40,000.00 40,000.00 Capital Expenses 4,580.57 0.00 0.00 40,000.00 40,000.00 270 - ART IN PUBLIC PLACES FUND 64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 Other Expenses 4,665.17 2,000.00 2,000.00 2,000.00 0.00 Repair & Maintenance 27,375.33 20,000.00 20,000.00 20,000.00 0.00 Capital Expenses 32,271.12 100,000.00 100,000.00 100,000.00 0.00 Transfers Out 0.00 0.00 0.00 200,000.00 200,000.00 OTHER FUNDS TOTAL 2,050,505.68 2,316,100.00 2,617,251.00 6,177,997.00 3,560,746.00 112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) 0.00 20,200.00 20,200.00 20,000.00 (200.00) 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 117,242.49 100,000.00 100,000.00 100,000.00 0.00 117,242.49 100,000.00 100,000.00 100,000.00 0.00 185,616.04 0.00 0.00 0.00 0.00 100.00 0.00 0.00 0.00 0.00 7,529.54 0.00 0.00 0.00 0.00 176,000.62 0.00 0.00 0.00 0.00 1,985.88 0.00 0.00 0.00 0.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 400.00 400.00 0.00 0.00 0.00 3,600.00 3,600.00 38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 38,287.83 32,000.00 32,000.00 34,000.00 2,000.00 0.00 0.00 17,000.00 20,000.00 3,000.00 203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) 0.00 400,000.00 400,000.00 400,000.00 0.00 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 55,993.96 0.00 0.00 110,000.00 110,000.00 55,993.96 0.00 0.00 110,000.00 110,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) 15,190.78 0.00 0.00 15,000.00 15,000.00 15,190.78 0.00 0.00 15,000.00 15,000.00 3,969.17 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 3,969.17 0.00 0.00 0.00 0.00 4,580.57 0.00 0.00 40,000.00 40,000.00 4,580.57 0.00 0.00 40,000.00 40,000.00 64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 4,665.17 2,000.00 2,000.00 2,000.00 0.00 27,375.33 20,000.00 20,000.00 20,000.00 0.00 32,271.12 100,000.00 100,000.00 100,000.00 0.00 0.00 0.00 0.00 200,000.00 200,000.00 2,050,505.68 2,316,100.00 2,617,251.00 6,177,997.00 3,560,746.00 CITY OF LA QUINTA OTHER FUNDS SUMMARY OF EXPENSES BY FUND 2018/19 PROPOSED BUDGET 35 368 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 210 - FEDERAL ASSISTANCE FUND 0000 - Undesignated 60 - Contract Services 0.00 20,200.00 20,200.00 20,000.00 (200.00)210-0000-60135 CDBG Public Service Grants 60 - Contract Services Totals:0.00 20,200.00 20,200.00 20,000.00 (200.00) 99 - Transfers Out 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00)210-0000-99900 Transfers Out 99 - Transfers Out Totals:112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 0000 - Undesignated Totals:112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) 210 - FEDERAL ASSISTANCE FUND Totals:112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) 0.00 20,200.00 20,200.00 20,000.00 (200.00) 0.00 20,200.00 20,200.00 20,000.00 (200.00) 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 112,840.70 105,600.00 164,251.00 52,000.00 (112,251.00) 112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) 112,840.70 125,800.00 184,451.00 72,000.00 (112,451.00) CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 36 369 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 212 - SLESA (COPS) FUND 0000 - Undesignated 60 - Contract Services 752.95 0.00 0.00 0.00 0.00212-0000-60178 COPS Robbery Prevention 116,489.54 100,000.00 100,000.00 100,000.00 0.00212-0000-60179 COPS Burglary/Theft Prevention 60 - Contract Services Totals:117,242.49 100,000.00 100,000.00 100,000.00 0.00 0000 - Undesignated Totals:117,242.49 100,000.00 100,000.00 100,000.00 0.00 212 - SLESA (COPS) FUND Totals:117,242.49 100,000.00 100,000.00 100,000.00 0.00 752.95 0.00 0.00 0.00 0.00 116,489.54 100,000.00 100,000.00 100,000.00 0.00 117,242.49 100,000.00 100,000.00 100,000.00 0.00 117,242.49 100,000.00 100,000.00 100,000.00 0.00 117,242.49 100,000.00 100,000.00 100,000.00 0.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 37 370 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 220 - QUIMBY FUND 0000 - Undesignated 99 - Transfers Out 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00220-0000-99900 Transfers Out 99 - Transfers Out Totals:557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 0000 - Undesignated Totals:557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 220 - QUIMBY FUND Totals:557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 557,337.53 0.00 0.00 3,956,000.00 3,956,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 38 371 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 221 - AB 939 - CALRECYCLE FUND 0000 - Undesignated 60 - Contract Services 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00221-0000-60127 AB 939 Recycling Solutions 60 - Contract Services Totals:15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 0000 - Undesignated Totals:15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 221 - AB 939 - CALRECYCLE FUND Totals:15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 15,056.53 20,000.00 20,000.00 35,000.00 15,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 39 372 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 223 - MEASURE A FUND 0000 - Undesignated 99 - Transfers Out 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00223-0000-99900 Transfers Out 99 - Transfers Out Totals:664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 0000 - Undesignated Totals:664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 223 - MEASURE A FUND Totals:664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 664,140.93 787,000.00 787,000.00 1,035,997.00 248,997.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 40 373 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 225 - INFRASTRUCTURE FUND 0000 - Undesignated 99 - Transfers Out 0.00 22,600.00 22,600.00 0.00 (22,600.00)225-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 22,600.00 22,600.00 0.00 (22,600.00) 0000 - Undesignated Totals:0.00 22,600.00 22,600.00 0.00 (22,600.00) 225 - INFRASTRUCTURE FUND Totals:0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) 0.00 22,600.00 22,600.00 0.00 (22,600.00) CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 41 374 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 230 - CASp FUND, AB 1379 0000 - Undesignated 64 - Other Expenses 0.00 0.00 0.00 400.00 400.00230-0000-60480 Contributions to State Agency 64 - Other Expenses Totals:0.00 0.00 0.00 400.00 400.00 68 - Capital Expenses 0.00 0.00 0.00 3,600.00 3,600.00230-0000-90020 Service & Supply 68 - Capital Expenses Totals:0.00 0.00 0.00 3,600.00 3,600.00 0000 - Undesignated Totals:0.00 0.00 0.00 4,000.00 4,000.00 230 - CASp FUND, AB 1379 Totals:0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 400.00 400.00 0.00 0.00 0.00 400.00 400.00 0.00 0.00 0.00 3,600.00 3,600.00 0.00 0.00 0.00 3,600.00 3,600.00 0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 42 375 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 235 - SO COAST AIR QUALITY FUND 0000 - Undesignated 60 - Contract Services 38,287.83 32,000.00 32,000.00 34,000.00 2,000.00235-0000-60186 CVAG 60 - Contract Services Totals:38,287.83 32,000.00 32,000.00 34,000.00 2,000.00 68 - Capital Expenses 0.00 0.00 17,000.00 20,000.00 3,000.00235-0000-80100 Machinery & Equipment 68 - Capital Expenses Totals:0.00 0.00 17,000.00 20,000.00 3,000.00 0000 - Undesignated Totals:38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 235 - SO COAST AIR QUALITY FUND Totals:38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 38,287.83 32,000.00 32,000.00 34,000.00 2,000.00 38,287.83 32,000.00 32,000.00 34,000.00 2,000.00 0.00 0.00 17,000.00 20,000.00 3,000.00 0.00 0.00 17,000.00 20,000.00 3,000.00 38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 38,287.83 32,000.00 49,000.00 54,000.00 5,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 43 376 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 250 - TRANSPORTATION DIF FUND 0000 - Undesignated 68 - Capital Expenses 0.00 400,000.00 400,000.00 400,000.00 0.00250-0000-80105 Developer Reimbursements 68 - Capital Expenses Totals:0.00 400,000.00 400,000.00 400,000.00 0.00 99 - Transfers Out 203,047.04 605,100.00 830,600.00 0.00 (830,600.00)250-0000-99900 Transfers Out 99 - Transfers Out Totals:203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 0000 - Undesignated Totals:203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) 250 - TRANSPORTATION DIF FUND Totals:203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) 0.00 400,000.00 400,000.00 400,000.00 0.00 0.00 400,000.00 400,000.00 400,000.00 0.00 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 203,047.04 605,100.00 830,600.00 0.00 (830,600.00) 203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) 203,047.04 1,005,100.00 1,230,600.00 400,000.00 (830,600.00) CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 44 377 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 252 - CIVIC CENTER DIF FUND 0000 - Undesignated 68 - Capital Expenses 55,993.96 0.00 0.00 110,000.00 110,000.00252-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:55,993.96 0.00 0.00 110,000.00 110,000.00 0000 - Undesignated Totals:55,993.96 0.00 0.00 110,000.00 110,000.00 252 - CIVIC CENTER DIF FUND Totals:55,993.96 0.00 0.00 110,000.00 110,000.00 55,993.96 0.00 0.00 110,000.00 110,000.00 55,993.96 0.00 0.00 110,000.00 110,000.00 55,993.96 0.00 0.00 110,000.00 110,000.00 55,993.96 0.00 0.00 110,000.00 110,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 45 378 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 253 - LIBRARY DEVELOPMENT DIF 0000 - Undesignated 68 - Capital Expenses 12,890.49 0.00 0.00 30,000.00 30,000.00253-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:12,890.49 0.00 0.00 30,000.00 30,000.00 0000 - Undesignated Totals:12,890.49 0.00 0.00 30,000.00 30,000.00 253 - LIBRARY DEVELOPMENT DIF Totals:12,890.49 0.00 0.00 30,000.00 30,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 12,890.49 0.00 0.00 30,000.00 30,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 46 379 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 254 - COMMUNITY CENTER DIF 0000 - Undesignated 99 - Transfers Out 0.00 101,600.00 101,600.00 0.00 (101,600.00)254-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 101,600.00 101,600.00 0.00 (101,600.00) 0000 - Undesignated Totals:0.00 101,600.00 101,600.00 0.00 (101,600.00) 254 - COMMUNITY CENTER DIF Totals:0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) 0.00 101,600.00 101,600.00 0.00 (101,600.00) CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 47 380 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 255 - STREET FACILITY DIF FUND 0000 - Undesignated 68 - Capital Expenses 15,190.78 0.00 0.00 15,000.00 15,000.00255-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:15,190.78 0.00 0.00 15,000.00 15,000.00 0000 - Undesignated Totals:15,190.78 0.00 0.00 15,000.00 15,000.00 255 - STREET FACILITY DIF FUND Totals:15,190.78 0.00 0.00 15,000.00 15,000.00 15,190.78 0.00 0.00 15,000.00 15,000.00 15,190.78 0.00 0.00 15,000.00 15,000.00 15,190.78 0.00 0.00 15,000.00 15,000.00 15,190.78 0.00 0.00 15,000.00 15,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 48 381 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 256 - PARK FACILITY DIF FUND 0000 - Undesignated 68 - Capital Expenses 0.00 0.00 0.00 4,000.00 4,000.00256-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:0.00 0.00 0.00 4,000.00 4,000.00 99 - Transfers Out 3,969.17 0.00 0.00 0.00 0.00256-0000-99900 Transfers Out 99 - Transfers Out Totals:3,969.17 0.00 0.00 0.00 0.00 0000 - Undesignated Totals:3,969.17 0.00 0.00 4,000.00 4,000.00 256 - PARK FACILITY DIF FUND Totals:3,969.17 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 0.00 0.00 0.00 4,000.00 4,000.00 3,969.17 0.00 0.00 0.00 0.00 3,969.17 0.00 0.00 0.00 0.00 3,969.17 0.00 0.00 4,000.00 4,000.00 3,969.17 0.00 0.00 4,000.00 4,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 49 382 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 257 - FIRE PROTECTION DIF 0000 - Undesignated 68 - Capital Expenses 4,580.57 0.00 0.00 40,000.00 40,000.00257-0000-83500 Advance Interest Expense 68 - Capital Expenses Totals:4,580.57 0.00 0.00 40,000.00 40,000.00 0000 - Undesignated Totals:4,580.57 0.00 0.00 40,000.00 40,000.00 257 - FIRE PROTECTION DIF Totals:4,580.57 0.00 0.00 40,000.00 40,000.00 4,580.57 0.00 0.00 40,000.00 40,000.00 4,580.57 0.00 0.00 40,000.00 40,000.00 4,580.57 0.00 0.00 40,000.00 40,000.00 4,580.57 0.00 0.00 40,000.00 40,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 50 383 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 270 - ART IN PUBLIC PLACES FUND 0000 - Undesignated 64 - Other Expenses 4,495.57 0.00 0.00 0.00 0.00270-0000-43550 APP Maintenance 169.60 2,000.00 2,000.00 2,000.00 0.00270-0000-60482 Operating Supplies 64 - Other Expenses Totals:4,665.17 2,000.00 2,000.00 2,000.00 0.00 65 - Repair & Maintenance 27,375.33 20,000.00 20,000.00 20,000.00 0.00270-0000-60683 APP Maintenance 65 - Repair & Maintenance Totals:27,375.33 20,000.00 20,000.00 20,000.00 0.00 68 - Capital Expenses 32,271.12 100,000.00 100,000.00 100,000.00 0.00270-0000-74800 Art Purchases 68 - Capital Expenses Totals:32,271.12 100,000.00 100,000.00 100,000.00 0.00 99 - Transfers Out 0.00 0.00 0.00 200,000.00 200,000.00270-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 0.00 0.00 200,000.00 200,000.00 0000 - Undesignated Totals:64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 270 - ART IN PUBLIC PLACES FUND Totals:64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 4,495.57 0.00 0.00 0.00 0.00 169.60 2,000.00 2,000.00 2,000.00 0.00 4,665.17 2,000.00 2,000.00 2,000.00 0.00 27,375.33 20,000.00 20,000.00 20,000.00 0.00 27,375.33 20,000.00 20,000.00 20,000.00 0.00 32,271.12 100,000.00 100,000.00 100,000.00 0.00 32,271.12 100,000.00 100,000.00 100,000.00 0.00 0.00 0.00 0.00 200,000.00 200,000.00 0.00 0.00 0.00 200,000.00 200,000.00 64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 64,311.62 122,000.00 122,000.00 322,000.00 200,000.00 CITY OF LA QUINTA OTHER FUNDS EXPENSE DETAILS 2018/19 PROPOSED BUDGET 51 384 THIS PAGE INTENTIONALLY LEFT BLANK 52 385 2016/17 Actual Expenses 2017/18 Original Budget 2017/18 Current Budget 2018/19 Proposed Budget 18/19 vs Current 17/18 401 - CAPITAL IMPROVEMENT PROGRAMS 0000 - Undesignated 50 - Salaries and Benefits 11,614.51 0.00 0.00 0.00 0.00401-0000-50101 Permanent Full Time 2,290.75 0.00 0.00 0.00 0.00401-0000-50200 PERS-City Portion 2,550.66 0.00 0.00 0.00 0.00401-0000-50221 Medical Insurance 35.09 0.00 0.00 0.00 0.00401-0000-50222 Vision Insurance 240.50 0.00 0.00 0.00 0.00401-0000-50223 Dental Insurance 16.67 0.00 0.00 0.00 0.00401-0000-50224 Life Insurance 205.04 0.00 0.00 0.00 0.00401-0000-50225 Long Term Disability 390.87 0.00 0.00 0.00 0.00401-0000-50240 Social Security - Medicare 50 - Salaries and Benefits Totals:17,344.09 0.00 0.00 0.00 0.00 60 - Contract Services 396,843.64 360,100.00 771,330.00 451,460.00 (319,870.00)401-0000-60103 Professional Services 84,762.00 419,600.00 672,863.00 890,649.00 217,786.00401-0000-60108 Technical 953,216.27 1,751,800.00 2,685,959.00 721,509.00 (1,964,450.00)401-0000-60185 Design 2,196,016.49 3,121,700.00 4,181,508.00 7,574,367.00 3,392,859.00401-0000-60188 Construction 13,198.55 0.00 0.00 0.00 0.00401-0000-60196 Annual Permits/Inspections 60 - Contract Services Totals:3,644,036.95 5,653,200.00 8,311,660.00 9,637,985.00 1,326,325.00 62 - Maintenance & Operations 0.00 944,200.00 1,177,694.00 907,745.00 (269,949.00)401-0000-60510 Contingency 62 - Maintenance & Operations Totals:0.00 944,200.00 1,177,694.00 907,745.00 (269,949.00) 64 - Other Expenses 149,545.03 585,100.00 1,133,528.00 0.00 (1,133,528.00)401-0000-60480 Contributions to Other Agencies 64 - Other Expenses Totals:149,545.03 585,100.00 1,133,528.00 0.00 (1,133,528.00) 68 - Capital Expenses 0.00 1,241,500.00 1,241,500.00 1,484,500.00 243,000.00401-0000-74010 Land Acquisition 68 - Capital Expenses Totals:0.00 1,241,500.00 1,241,500.00 1,484,500.00 243,000.00 99 - Transfers Out 0.00 190,400.00 190,400.00 0.00 (190,400.00)401-0000-99900 Transfers Out 99 - Transfers Out Totals:0.00 190,400.00 190,400.00 0.00 (190,400.00) 0000 - Undesignated Totals:3,810,926.07 8,614,400.00 12,054,782.00 12,030,230.00 (24,552.00) 401 - CAPITAL IMPROVEMENT PROGRAMS Totals:3,810,926.07 8,614,400.00 12,054,782.00 12,030,230.00 (24,552.00) 11,614.51 0.00 0.00 0.00 0.00 2,290.75 0.00 0.00 0.00 0.00 2,550.66 0.00 0.00 0.00 0.00 35.09 0.00 0.00 0.00 0.00 240.50 0.00 0.00 0.00 0.00 16.67 0.00 0.00 0.00 0.00 205.04 0.00 0.00 0.00 0.00 390.87 0.00 0.00 0.00 0.00 17,344.09 0.00 0.00 0.00 0.00 396,843.64 360,100.00 771,330.00 451,460.00 (319,870.00) 84,762.00 419,600.00 672,863.00 890,649.00 217,786.00 953,216.27 1,751,800.00 2,685,959.00 721,509.00 (1,964,450.00) 2,196,016.49 3,121,700.00 4,181,508.00 7,574,367.00 3,392,859.00 13,198.55 0.00 0.00 0.00 0.00 3,644,036.95 5,653,200.00 8,311,660.00 9,637,985.00 1,326,325.00 0.00 944,200.00 1,177,694.00 907,745.00 (269,949.00) 0.00 944,200.00 1,177,694.00 907,745.00 (269,949.00) 149,545.03 585,100.00 1,133,528.00 0.00 (1,133,528.00) 149,545.03 585,100.00 1,133,528.00 0.00 (1,133,528.00) 0.00 1,241,500.00 1,241,500.00 1,484,500.00 243,000.00 0.00 1,241,500.00 1,241,500.00 1,484,500.00 243,000.00 0.00 190,400.00 190,400.00 0.00 (190,400.00) 0.00 190,400.00 190,400.00 0.00 (190,400.00) 3,810,926.07 8,614,400.00 12,054,782.00 12,030,230.00 (24,552.00) 3,810,926.07 8,614,400.00 12,054,782.00 12,030,230.00 (24,552.00) CITY OF LA QUINTA CAPITAL IMPROVEMENT FUND EXPENSES 2018/19 PROPOSED BUDGET 53 386 THIS PAGE INTENTIONALLY LEFT BLANK 54 387 GLOSSARY OF BUDGET TERMS The following is a list of commonly used financial terms: ALLOCATE - To divide a lump-sum appropriation which is designated for expenditure by specific organization units and/or for specific purposes, activities, or objects. APPROPRIATION - An authorization made by the Council which permits the City to incur obligations and to make expenditures of resources. ASSESSED VALUATION - A dollar value placed on real estate or other property by Riverside County as a basis for levying property taxes. ASSET - Anything having commercial or exchange value that is owned by a business, institution or individual. AUDIT - Conducted by an independent Certified Public Accounting (CPA) Firm, the primary objective of an audit is to determine if the City's Financial Statements present the City's financial position fairly and results of operations are in conformity with Generally Accepted Accounting Principles (GAAP). BALANCED BUDGET - A budget in which planned expenditures do not exceed projected funds available. BALANCE SHEET - A financial statement reporting the organization's assets, liabilities and equity activities. BUDGET - The document created by the staff and approved by the City Council which establishes the broad policy guidance on the projection of revenues and the allocation toward various types of expenditures. BUDGET CALENDAR – This is a schedule of the dates which is followed in the preparation, adoption, and administration of the budget. BUDGET MESSAGE - Included in the opening section of the Financial Plan, the message provides the Council and the public with a general summary of the most important aspects of the document, changes from the previous fiscal years, and the views and recommendations of the City Manager. CONSUMER PRICE INDEX (CPI) - A measure used to reflect the change in the price of goods and services. CONTINGENCY - An appropriation of funds to cover unforeseen events that occur during the fiscal year such as flood emergencies, Federal mandates, shortfalls in revenue, and similar eventualities. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 55 388 GLOSSARY OF BUDGET TERMS, CONTINUED CONTINUING APPROPRIATION - Funds committed for a previous fiscal year expenditure which were not spent in the year of appropriation, but are intended to be used in the succeeding year. CONTRACTUAL SERVICES - Services rendered to City activities by private firms, individuals or other governmental agencies. Examples of these services include engineering, law enforcement, and city attorney services. DEPARTMENT - A major organizational unit of the City which has been assigned overall management responsibility for an operation or a group of related operations within a functional area. DESIGNATED FUND BALANCE - A portion of unreserved fund balance designated by City policy for specific future use. ENCUMBRANCE - The legal commitment of appropriated funds to purchase an item or service. To encumber funds means to set aside or commit funds for a future expenditure. EXPENDITURE - The outflow of funds paid for goods or services obtained. FEES FOR SERVICES - Charges paid to the City by users of a service to help support the costs of providing that service. FISCAL YEAR - The fiscal year is defined as the beginning and ending period for recording financial transactions. The City has specified July 1 to June 30 as its fiscal year. FIXED ASSETS – Fixed Assets are assets of a long-term nature such as land, buildings, machinery, furniture, and other equipment. The City has defined such assets as those with an expected life in excess of one year and an acquisition cost in excess of $5,000. FRANCHISE FEE - A franchise fee is charged for the privilege of using public right-of-way and property within the City for public or private purposes. The City currently accesses franchise fees on cable television, utilities, and trash collection contractors. FUND - An accounting entity that records all financial transactions for specific activities or government functions. The fund types used by the City are: General, Special Revenue, Capital Project, Debt Service, Enterprise, and Internal Service Funds. FUND BALANCE – Fund Balance is the excess of current assets over current liabilities, and represents the cumulative effect of revenues and other financing sources over expenditures and other financing uses. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 56 389 GLOSSARY OF BUDGET TERMS, CONTINUED GENERAL FUND - The General Fund is the primary operating fund of the City. All revenues that are not allocated by law or contractual agreement to a specific fund are accounted for in the General Fund. With the exception of subvention or grant revenues restricted for specific uses, General Fund resources can be utilized for any legitimate governmental purpose. GOAL - A goal is a statement of broad, direction, purpose, or intent. GRANT -Contributions of cash or other assets from another governmental agency to be used or expended for a specified purpose, activity, or facility. INFRASTRUCTURE - Fund contributions of cash or other assets from development oriented applicants used for the City's basic system of its physical plant, (i.e., streets, water drainage, public buildings and parks). INVESTMENT REVENUE – Investment Revenue that is received as interest from the investment of funds not immediately required to meet cash disbursement obligations. JOINT POWERS AUTHORITY (J.P.A.) - A joint venture that is comprised of two or more governmental entities sharing the cost of providing a public service. LIABILITY - A claim on the assets of an entity. LINE-ITEM BUDGET - A budget that lists detailed expenditure categories (salary, materials, telephone service, travel, etc.) separately, along with the amount budgeted for each specified category. The City uses a program rather than line-item budget, although detail line-item accounts are maintained and recorded for financial reporting and control purposes. MUNICIPAL - In its broadest sense, municipal is an adjective which denotes the state and all subordinate units of government. In a more restricted sense, an adjective which denotes a city or village as opposed to other local governments. OPERATING BUDGET – This is the portion of the budget that pertains to daily operations providing governmental services. PERSONNEL SERVICES - Costs associated with providing the staff necessary to provide the desired levels of services. Included in personnel services are both salary and benefit costs. POLICY - A direction that must be followed to advance toward a goal. The direction can be a course of action or a guiding principal. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 57 390 GLOSSARY OF BUDGET TERMS, CONTINUED PROGRAM - A grouping of activities organized to accomplish basic goals and objectives. PROGRAM BUDGET – This is a budget that focuses upon the goals and objectives of an agency or jurisdiction. PROPERTY TAX - A statutory limited tax levy which may be imposed for any purpose. QUARTERLY BUDGET REPORT – This is a comprehensive report providing an update of the City's financial position. RESERVE - An account used to indicate that a portion of a fund's balance is legally restricted for a specific purpose and is, therefore, not available for general appropriation. REVENUE - Funds that the government receives as income. It includes such items as tax payments, fees from specific services, receipts from other governments, fines, forfeitures, grants, shared revenues, and interest income. RISK MANAGEMENT – This is an organized attempt to protect an organization's assets against accidental loss in the most cost-effective manner. SALES TAX - A tax on the purchase of goods. SPECIAL ASSESSMENT - A compulsory levy made against certain properties to defray part or all of the costs of a specific improvement or service deemed to primarily benefit those parties. (Special Assessments are also known as benefit fees.) SPECIAL REVENUE FUNDS - Funds used to account for the proceeds from specific revenue sources (other than trusts or major capital projects) that are legally restricted to expenditures for specific purposes. SUPPLIES AND SERVICES - A general category used for clarifying expenditures for various supplies and services which are normally used within a fiscal year. TRUST AND AGENCY FUNDS - Also known as Fiduciary Fund Types, these funds are used to account for assets held by the City in a trustee capacity or as an agent for private individuals, organizations, or other governmental agencies. USER FEES - The payment of a fee for direct receipt of a service by the party benefiting from the service. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 58 391 DESCRIPTION OF FUNDS FUND TYPE - GENERAL FUND GENERAL FUND - The primary fund of the City used to account for all revenue and expenditures of the City not legally restricted as to use. A broad range of municipal activities are provided through this fund including City Manager, City Attorney, Finance, City Clerk, Community Development, Public Safety (Police and Fire), Public Works, and Community Services. FUND TYPE - SPECIAL REVENUE GASOLINE TAX FUND - To account for gasoline allocations by the State of California. These revenues are restricted by the State to expenditures for street related purposes only. LIBRARY AND MUSEUM FUND – This Fund accounts for the revenues from property taxes generated for Library and Museum Services. The expenditures are reimbursed by the County of Riverside. FEDERAL ASSISTANCE FUND - This Fund is used to account for revenues from the Community Development Block Grants received from the Federal Government and the expenditures of those resources. INDIAN GAMING FUND - This Fund is used to account for the activities of a motor officer received under the provisions of an Indian Gaming Grant. QUIMBY FUND - This Fund is used to account for the accumulation of Developer Fees received under the provisions of the Quimby Act for Park Development and Improvements. Capital projects to be funded from this source will be budgeted and expended in a separate Capital Projects Fund. MEASURE A FUND – In 1988, Riverside County voters approved a half cent sales tax, known as Measure A, to fund a variety of highway improvements, local street and road maintenance, commuter assistance and specialized highway transit projects. This fund is used to collect this tax and pursuant to the provision of Measure A, it is restricted for local street and road expenditures only. DEVELOPMENT AGREEMENT FUND – This fund is used to account for the proceeds of development agreement revenues collected and the related expenditures in accordance with State requirements. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 59 392 DESCRIPTION OF FUNDS - CONTINUED FUND TYPE - SPECIAL REVENUE (continued) SOUTH COAST AIR QUALITY - This Fund is used to account for contributions from the South Coast Air Quality Management District. Use of such contributions is limited to reduction and control of airborne pollutants. COPS FUND - This fund is used to account for State of California funds used to fund law enforcement activities of the Riverside County Sheriffs Department. POLICE & FIRE SURVIVORS - This fund is used to account for payments to survivors of deceased police or fire personnel serving the City of La Quinta. ART IN PUBLIC PLACES - This fund is used to account for developer contributions from Art in Public Places projects within the City of La Quinta. AB 939 FUND - This fund is used to account for franchise fees collected from the City Waste hauler that are used in accordance with Assembly Bill 939. SB 1266 FUND - This fund is used to account for transportation funds received from the State of California for road improvements. HOUSING AUTHORITY - These funds are used to account for the housing activities of the Housing Authority which is to promote and provide quality affordable housing. COACHELLA VALLEY VIOLENT CRIME GANG TASK FORCE – This Fund is used to account for the revenues and expenditures of this valley-wide crime prevention program with funding coming from the member agencies and grant revenue. CASp FUND, AB 1379 – This Fund was established in FY 2018/19 as required under Assembly Bill 1379 for the collection of the $4 business licenses accessibility fee. Funds shall be utilized for local construction-related accessibility requirements. FUND TYPE – DEBT SERVICE FINANCING AUTHORITY, DEBT SERVICE - This Fund is used to account for the debt service funds that will be used for the principal and interest payments of the Financing Authority outstanding debt. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 60 393 DESCRIPTION OF FUNDS - CONTINUED FUND TYPE - CAPITAL PROJECTS INFRASTRUCTURE FEE FUND - This Fund is used to account for the accumulation of resources, provided through developer fees for the acquisition, construction or improvement of the City’s infrastructure as defined by Resolution. Capital projects to be funded from this source will be budgeted and expended in a separate Capital Projects Fund. TRANSPORTATION, PARK & RECREATION, CIVIC CENTER, LIBRARY COMMUNITY CENTER, STREET MAINTENANCE, LIBRARY, PARK MAINTENANCE AND FIRE FUNDS - These funds are used to account for developer impact fees collected for the above mentioned public improvements. CAPITAL PROJECTS FUND - The Capital Projects Fund is used to account for the planning, design and construction of various Capital Projects throughout the City of La Quinta. FUND TYPE - INTERNAL SERVICE FUND FACILITY AND FLEET REPLACEMENT - This fund is used to account for the ultimate replacement of City owned and operated vehicles, heavy equipment, and facilities. INFORMATION TECHNOLOGY - This fund is used to account for the ultimate replacement of City owned and operated computer hardware, software and computer maintenance and operations. PARK MAINTENANCE EQUIPMENT & FACILITIES - This fund is used to account for the ultimate replacement of City owned and operated park equipment and facilities. INSURANCE – This fund is used to account for the City’s insurance coverages. FUND TYPE – ENTERPRISE SILVERROCK GOLF COURSE FUND - This account is used to account for the golf activities of the SilverRock Golf course. SILVERROCK GOLF COURSE RESERVE FUND - This account is used to account for golf course reserves for future capital improvements of the SilverRock Golf course. CITY OF LA QUINTA 2018/19 PROPOSED BUDGET 61 394 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ADOPT ORDINANCE NO. 570 EXTENDING FOR 120 DAYS THE MORATORIUM ON THE APPROVAL OF ANY LAND USE ENTITLEMENT, INCLUDING SUBDIVISIONS, USE PERMITS, VARIANCES, BUILDING PERMITS, OR ANY OTHER APPLICABLE ENTITLEMENT, FOR ADDITIONAL BEDROOMS BY CONVERTING NON-BEDROOM SPACES AND AREAS INTO BEDROOMS IN SPECIFIED RESIDENTIAL ZONES IN THE CITY OF LA QUINTA, AND FINDING OF EXEMPTION PURSUANT TO CEQA GUIDELINES SECTIONS 15060(c)(2) AND 15061(b)(3) UNDER THE CALIFORNIA ENVIRONMENTAL QUALITY ACT RECOMMENDATION A. Make a finding, included in Ordinance No. ___ that adopting this ordinance is exempt under the California Environmental Quality Act pursuant to CEQA Guidelines Sections 15060(c)(2) and 15061(b)(3) -- Review of Exemptions – General Rule. B. Move to take up Ordinance No. ___ by title and number only and waive further reading. C. Move to adopt immediately, as an Urgency Interim Ordinance, Ordinance No. ___. EXECUTIVE SUMMARY •A forty-five (45) day moratorium on issuance of building permits for common living space was adopted January 16, 2018 to develop standards that limit common living area-to-bedroom conversions that may impact the health, safety, and welfare of neighboring residents. •A one hundred-twenty (120) day extension of the moratorium was approved on February 20, 2018. •An extension of the moratorium for 120 days is recommended to allow sufficient time for Council adoption and implementation of new code amendments. FISCAL IMPACT – None. BACKGROUND/ANALYSIS In North La Quinta, owners of single-family residences, permitted as short-term vacation rentals (STVRs), have requested building permits to add additional bedrooms beyond the number of bedrooms originally intended for the home. The La Quinta Municipal Code (Code) standards do not directly limit conversion of existing kitchens, living rooms, dining room spaces, and other “non-bedroom” spaces into additional bedrooms. Staff is concerned that a proliferation of non-bedroom conversions within STVRs may increase residential occupancies and land use densities beyond those intended for single-family PUBLIC HEARING ITEM NO. 1 395 zoned neighborhoods, resulting in excessive noise and excessive use of on-street parking, among other impacts to health, safety and welfare identified in the ordinance. Council adopted a forty-five (45) day moratorium in January 2018 that prohibits approval of any entitlements, such as building permits that propose conversion of residential common living area to bedroom space and directed staff to draft code amendments to limit non-bedroom conversions and report back to Council. Since adoption of the moratorium, the Planning Commission considered and recommended approval of code amendments to Title 9 (Zoning) related to non-bedroom conversions at a public hearing on April 24, 2018. Staff recommends adoption of the 120- day extension to allow time to accommodate the introduction, second reading, and the 30-day referendum period. Staff anticipates recommended code amendments to Title 3 (Revenue and Finance). Title 9 (Zoning) will be prepared for Council consideration on June 5, 2018. No more than two extensions may be adopted, and any extension must be adopted by a four-fifths vote. On February 20, 2018, the Council extended the initial moratorium by 120 days. This recommended action would be the second extension. The measures described in the report fulfill State requirements of a written report by Council issued 10 days prior to the expiration of the extension. ALTERNATIVES Council may elect not to take up this ordinance and allow non-bedroom conversions subject to current development standards of the Code. Prepared by: Gabriel Perez, Planning Manager Approved by: Frank J. Spevacek, City Manager 396 ORDINANCE NO. 570 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, PURSUANT TO CALIFORNIA GOVERNMENT CODE SECTION 65858, EXTENDING FOR A SECOND TIME FOR 120 DAYS THE MORATORIUM, PURSUANT TO GOVERNMENT CODE SECTION 65858, ON THE APPROVAL OF ANY LAND USE ENTITLEMENT, INCLUDING SUBDIVISIONS, USE PERMITS, VARIANCES, BUILDING PERMITS, OR ANY OTHER APPLICABLE ENTITLEMENT, FOR ADDITIONAL BEDROOMS BY CONVERTING NON-BEDROOM SPACES AND AREAS INTO BEDROOMS IN SPECIFIED RESIDENTIAL ZONES IN THE CITY OF LA QUINTA, CALIFORNIA WHEREAS, there has been a proliferation of conversions of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences within the City of La Quinta, California (“City”). The City’s code enforcement officers have become aware that in some residential zones of the City, such as the Via Sevilla residential neighborhood, that non-bedroom spaces and areas have been converted to bedrooms without any building permits or other necessary approvals. The City’s code enforcement officers also have become aware that some of these residences with converted bedrooms are being advertised and rented as short-term vacation rental properties. Such unpermitted conversions have caused an influx of rental housing and occupancy of single-family dwellings or other residences in excess of the number of persons originally contemplated and approved in accordance with the La Quinta Municipal Code (“Municipal Code”), including the City’s Zoning Code (“Zoning Code”), and the City’s General Plan, including its Housing Element (the “General Plan” and “Housing Element” respectively); and WHEREAS, there are existing single-family dwellings or other residences throughout the City that have non-bedroom space, including living rooms, family rooms, bonus rooms, lofts, and third car garage space, that could be converted to bedrooms and marketed as multi-bedroom vacation rental units. The continued conversions of non-bedroom space to bedrooms in and corresponding occupancy of such single-family dwellings or other residences in excess of that contemplated by the General Plan, Housing Element, Municipal Code, and Zoning Code poses a threat to the public health, safety, and welfare; and WHEREAS, in order to allow time for the City Council to consider and study the possible enactment of revisions to the General Plan, including the Housing Element, and/or the Municipal Code, including the Zoning Code, relating to applications for additional bedrooms resulting from the conversion of living rooms, dining rooms, and 397 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 2 of 13 other non-bedroom spaces and areas into bedrooms in existing single-family dwellings or other residences, and to develop an adequate approval and review process for the regulation thereof, including if such conversions may be in furtherance of short-term vacation rentals, it is necessary to suspend the approval of any City- issued land use entitlement, including subdivisions, use permits, variances, building permits, or any other applicable entitlement, with regard to conversion of non- bedroom spaces and areas into bedrooms because they may conflict with such possible revisions that the City Council may consider and approve; and WHEREAS, California Government Code Section 65858 allows the City Council to adopt as an urgency measure an interim ordinance, and extension thereof, prohibiting any uses that may frustrate or be in conflict with a contemplated general plan, specific plan, or zoning proposal that the City Council, Planning Commission or the Planning Division is considering or studying or intends to study within a reasonable time. Pursuant to Government Code Section 65858, the City Council adopted Ordinance No. 566, establishing a moratorium, and, to enact the extension thereof under this ordinance, noticed a public hearing pursuant to Government Code Section 65090. NOW, THEREFORE, the City Council of the City of La Quinta does ordain as follows: SECTION 1: Findings. The foregoing recitals are true and correct and are incorporated herein as though set forth in full, adopted as part of the findings of the City Council, and are each relied upon independently by the City Council for its adoption of this Urgency Interim Ordinance (“this ordinance”) on an urgency basis. Based on the foregoing, the City Council makes the additional findings in this SECTION 1. A. There is a current and immediate threat to the public health, safety, or welfare for the following reasons: (1) Violations of Title 8 of the Municipal Code [Building and Construction Code]. Additional bedrooms resulting from the conversion of non-bedroom space to bedrooms in existing single- family dwellings or other residences requires an adequate review and approval process to ensure compliance with the City’s Building and Construction Code. (a) Title 8 of the City’s Municipal Code, the Building and Construction Code, incorporates the California Building Code, Fire Code, Mechanical Code, Plumbing Code, Energy Code, and Electrical Code, as well as the Residential Code (Chapter 8.06 of the Municipal Code), the last of which regulates the construction, alteration, movement, 398 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 3 of 13 enlargement, replacement, repair, equipment, use and occupancy, location, maintenance, removal and demolition of any and all detached one- and two-family dwellings, specified townhouses, and ancillary structures thereto. (See Section 8.06.010 of the Municipal Code.) The City also enforces the Housing Code (Chapter 8.09 of the Municipal Code) to provide minimum health and safety standards for the maintenance of the existing housing supply. Together with the State mandated minimum standards adopted and incorporated into the City’s Building and Construction Code in Title 8 of the Municipal Code, these standards provide for safe and sanitary housing that is fit for human habitation. (b) City seeks to protect the public health, safety, and welfare of the public and an adequate review and approval process is necessary to ensure conversions of non-bedroom space to bedrooms achieve compliance with the minimum standards codified in the Building and Construction Code in Title 8 of the Municipal Code. (2) Violations of Chapter 3.25 of the Municipal Code [Short-Term Vacation Rentals]. The City has adopted comprehensive Short- Term Vacation Rentals Regulations (Chapter 3.25 of the Municipal Code). The purpose of Chapter 3.25 is to establish regulations for the use of privately owned residential dwellings as short-term vacation rentals that ensure the collection and payment of transient occupancy taxes as provided in Chapter 3.24 of the Municipal Code, and minimize the negative secondary effects of such use on surrounding residential neighborhoods. (a) Unpermitted additional bedrooms resulting from the conversion of non-bedroom space to bedrooms in existing single-family dwellings or other residences will frustrate both purposes of the Short-Term Vacation Rental Regulations: (i) Such unpermitted additional bedrooms likely will result in additional renters (or “transients”) that are subject to collection and payment of transient occupancy taxes as provided in Chapter 3.24 without the City having the necessary records to ensure collection and payment of those taxes; and (ii) Such unpermitted additional bedrooms, without review by the City and/or without conditions 399 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 4 of 13 attached to their use, likely will have negative secondary effects on the surrounding residential neighborhoods by, among other impacts: (1) Increased or excessive noise, (2) The potential generation of large numbers of people and vehicles in residential neighborhoods, (3) The potential impact on the City’s infrastructure resulting from additional inhabitants in a single family dwelling or residence, and (4) The potential impact on the tourism-related facilities (such as hotels and resorts) in the City. (b) The Short-Term Vacation Rental Regulations, in Section 3.25.070 of the Municipal Code, specifically regulate the number of occupants allowed to occupy any given short- term vacation rental property based on the number of bedrooms in the property. Any unpermitted additional bedrooms, without review by the City and/or without conditions attached to their use, would frustrate this section of the Short-Term Vacation Rental Regulations. (c) Time to study and evaluate the applicability of and possible amendments to the Short-Term Vacation Rental Regulations to applications for additional bedrooms resulting from the conversion of non-bedroom spaces and areas to bedrooms is required so as to ensure the purposes of the Short-Term Vacation Rental Regulations are fulfilled and the requirements of these regulations are complied with by property owners. (3) Violations of Title 9 of the Municipal Code [the City’s Zoning Code]. Among other requirements, the Zoning Code imposes occupancy limits based upon uses of property. Additional bedrooms resulting from the conversion of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences conflicts with City’s recognition of the need for and demonstrated intent to specifically regulate residential zones. (a) The Zoning Code expressly recognizes the need for regulations relating to dwellings and residences with highnumbers of bedrooms. Section 9.60.270 of the Municipal Code regulates “bed and breakfast” uses. This section applies to “a residential dwelling occupied by a resident, person, or family, containing individual living quarters occupied for a transient basis for compensation” 400 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 5 of 13 and, in adopting this section, the City specifically found that “bed and breakfast facilities constitute small commercial lodging facilities in residential districts” which require special regulations that are not normally covered by standards for motels and hotels. (i) Among other provisions, Section 9.60.270 imposes occupancy limits requiring operation by a person owning the dwelling and residing therein as their principal place of residence and a maximum accommodation of eight guests in four rooms, as well as development standards concerning the placement and condition of rooms and specific required finings that: 1) The property is physically suitable for use as a bed and breakfast facility; and 2) The use of the property as a bed and breakfast will not cause an undue burden on adjacent and nearby property owners. (ii) Additional bedrooms resulting from the conversion of non-bedroom space to bedrooms in single-family dwellings or other residences may constitute a use that is similar to or the same as “small commercial lodging facilities in residential districts” for bed and breakfast uses. (iii) Time to study and evaluate the applicability of bed and breakfast regulations (and other Zoning Code regulations) to the conversion of non-bedroom spaces and areas to bedrooms is required, so as to ensure the adding of bedrooms is addressed in the Zoning Code and does not otherwise conflict with prohibitions in the Zoning Code. (b) The Zoning Code expressly recognizes and regulates ancillary business uses in single-family dwellings and other residences. Section 9.60.110 of the Municipal Code regulates “home occupation” (or home business) uses. This section applies to “an occupation or activity conducted as an accessory use within a dwelling unit incidental to the residential use of the property,” and, in adopting this section, the City specifically intended to ensure that such 401 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 6 of 13 “incidental and accessory uses may be established in residential neighborhoods under conditions that will ensure their compatibility with the neighborhood.” (i) Among other provisions, Section 9.60.110 requires: 1) An incidental and accessory use that shall not change the principal character or use of the dwelling unit involved; 2) Only residents of the dwelling unit may be engaged in the home occupation; and 3) A home occupation shall not occupy more than twenty-five percent of the combined floor area of the house and garage. (ii) Additional bedrooms resulting from the conversion of non-bedroom space to bedrooms in single-family dwellings or other residences may be intended by an owner to be for a business use either identical to or substantially similar to “an incidental and accessory use” which requires special review and approval to ensure their compatibility with the neighborhood. (iii) Unpermitted additional bedrooms, without review by the City and/or without conditions attached to their use, likely could change the principal character or use of the dwelling unit by, among other impacts: (1) Increased or excessive noise, (2) The potential generation of large numbers of people and vehicles in residential neighborhoods, (3) The potential impact on the City’s infrastructure resulting from additional inhabitants in a single-family dwelling or residence, and (4) The potential impact on the tourism-related facilities (such as hotels and resorts) in the City. (iv) Time to study and evaluate the applicability of home occupation/home business regulations (and other Zoning Code regulations) to the conversion of non- bedroom spaces and areas to bedrooms is required, so as to ensure the adding of bedrooms is addressed in the Zoning Code and does not otherwise conflict with prohibitions in the Zoning Code. 402 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 7 of 13 (4) Violations of the General Plan and Specifically the Housing Element. Additional bedrooms resulting from the conversion of non-bedroom spaces and areas to bedrooms in existing single- family dwellings or other residences threatens to frustrate the City’s goals and policies as articulated in the General Plan and its Housing Element due to the potential unintended influx in rental housing and occupancy of those single-family dwellings or other residences in excess of that contemplated by the General Plan and its Housing Element, producing unplanned impacts on residential neighborhoods. (a) Additional bedrooms resulting from the conversion of non- bedroom spaces and areas to bedrooms in existing single- family dwellings or other residences produces an unplanned impact on the community that has the potential to frustrate the City’s “Housing Vision Statement” as articulated in the Housing Element. (Page II-206 of the Housing Element.) (i) The Housing Vision Statement places emphasis on “maintaining and enhancing the City’s high quality of life for its residents, . . . the maintenance and improvement of its existing housing, . . . [and] preserving the overall character of the City.” (Page II-206 of the Housing Element.) (ii) In pursuit of that vision, the Housing Element repeatedly stresses the importance of maintaining consistency of housing density as provided for in the General Plan and Zoning Code, discussing in depth the City’s detailed residential zoning, which is predicated on housing density levels. (See Sections 9.30.020 [RVL Very Low Density Residential District], 9.30.030 [RL Low Density Residential District], 9.30.040 [RC Cove Residential District], 9.30.050 [RM Medium Density Residential District], 9.30.060 [RMH Medium High Density Residential District], and 9.30.070 [RH High Density Residential District] of the Municipal Code.) (iii) As recognized in the Housing Element, the most common housing-related problem in the City is illegal room additions/garage conversions, and the Housing Code mandates that health and safety deficiencies be corrected in accordance with 403 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 8 of 13 construction standards that were in effect at the time the structure was built. (See page II-287 of the Housing Element.) (iv) The City’s comprehensive zoning and planning evidences the City’s thoughtful consideration of population density in its residential neighborhoods. (See pages II-258-259 of the Housing Element). Adding bedrooms resulting from the conversion of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences threatens that careful planning by introducing a potential unintended influx of rental housing and occupancy in excess of that contemplated by the density planning set forth in the Zoning Code and Housing Element. (b) Adding bedrooms resulting from the conversion of non- bedroom spaces and areas to bedrooms in existing single- family dwellings or other residences produces an unplanned impact on the community that has the potential to frustrate the goals and objectives set forth in other elements of the General Plan. (i) The Land Use Element articulates the City’s land use goals and policies, including: 1) Preserving safe and identifiable neighborhoods that provide a sense of place by encouraging the preservation of neighborhood character and assure a consistent and compatible land use pattern. (See, GOAL LU-3, Policy LU-3.1 in the Land Use Element of the General Plan.) 2) Maintenance and protection of existing neighborhoods. (See, GOAL LU-4 in the Land Use Element of the General Plan.) (ii) The Circulation Element takes into account existing and long term regional traffic and transportation infrastructure needs in order to assure the City maintains a transportation network that efficiently, safely and economically moves people, vehicles, and goods using facilities that meet the current demands 404 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 9 of 13 and projected needs of the City. (See, GOAL CIR-1 of the Circulation Element of the General Plan.) (iii) The Sustainable Community Element articulates the City’s goals and policies concerning its efforts at creating a community that provides the best possible quality of life for all its residents and which specifically includes resource efficient development principles. (See, GOAL SC-1 of the Sustainable Community Element of the General Plan.) (c) Overall, the goals and policies set forth in the General Plan evidence the City’s intent to establish building standards and housing policies that preserve the character of its residential neighborhoods, maintain safe, efficient, and economic transportation, and promote a sustainable community. Adding bedrooms that result from the conversion of non-bedroom spaces and areas to bedrooms in existing singlefamily dwellings or other residences, and the potential impacts resulting from such conversion (including potential influx of rental housing and occupancy in excess of contemplated density designations), threatens each of these goals. B. The City Council finds and determines, for the reasons set forth in this ordinance, that the continued approval or issuance of any City-issued land use entitlement, including subdivisions, use permits, variances, building permits, or any other applicable entitlement, for conversions of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences would result in a threat to public health, safety, or welfare. C. The City Council finds and determines that any new or the continued approval of applications for additional bedrooms that result from the conversion of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences would have specific, adverse impacts upon the public health or safety for the reasons identified in SECTION 1(A)(1), (2), (3), and (4) of this ordinance. D. The City Council finds and determines that this ordinance is necessary to mitigate or avoid the specific, adverse impacts identified in SECTION 1(A)(1), (2), (3), and (4) of this ordinance. E. There is no feasible alternative to satisfactorily mitigate or avoid the specific, adverse impacts identified in SECTION 1(A)(1), (2), (3), and (4) of this ordinance, as well or better, with a less burdensome or restrictive effect, than the adoption of this ordinance. 405 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 10 of 13 F. The City Council finds and determines, for the reasons set forth in this ordinance, that the adoption of this ordinance is exempt from the California Environmental Quality Act under State CEQA Guidelines Section 15060(c)(2), in that the adoption of this Urgency Interim Ordinance will not result in a direct or reasonably foreseeable indirect physical change in the environment, and is further and independently exempt from the California Environmental Quality Act under State CEQA Guidelines Section 15061(b)(3), in that it can be seen with certainty there is no possibility the adoption of this ordinance will have a significant effect on the environment. SECTION 2: Imposition of Moratorium. Based on the findings described above, the City Council hereby adopts the following moratorium and implementing provisions: A. From the date of the adoption of this ordinance, extending the 45-day moratorium enacted under Ordinance No. 566, pursuant to Government Code Section 65858, and for an extension period of one hundred twenty (120) days from its adoption, no approvals may be made by the City, its officers, or its employees for any incomplete or new applications for any City-issued land use entitlement, including subdivisions, use permits, variances, building permits, or any other applicable entitlement, for additional bedrooms that result from the conversion of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences within the following zones in the City: RVL Very Low Density Residential District; RL Low Density Residential District; RM Medium Density Residential District; RC Cove Residential District; RMH Medium High Density Residential District. B. During the effective dates of this ordinance, the issuance of any new land use entitlement, including subdivisions, use permits, variances, building permits, or any other applicable entitlement, in violation of SECTION 2(A) of this ordinance, is hereby prohibited and shall be null and void. C. Notwithstanding any provision of the Municipal Code to the contrary, no new land use entitlement, including subdivisions, use permits, variances, building permits, or any other applicable entitlement, for room additions from conversions of non-bedroom space to bedrooms in existing single-family dwellings or other residences shall be approved or issued in violation of SECTION 2(A) of this ordinance during the pendency of this ordinance or any extension thereof. D. Nothing in this ordinance does or may be construed as authorizing, in any zone not identified in SECTION 2(A), an approval of a City-issued land use entitlement (including subdivisions, use permits, variances, building permits, or any other applicable entitlement) for additional bedrooms that result from the conversion of non-bedroom spaces and areas to bedrooms, if any such zone not identified in SECTION 2(A) does not permit, or only permits with conditions, residential habitation. 406 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 11 of 13 E. The extension of the moratorium in this ordinance may be extended in accordance with Government Code Section 65858. SECTION 3: Study and Report. City staff is hereby authorized and directed to conduct a study of the areas in the City, and specifically residential neighborhoods, that have or may have, either currently or likely to in the future, additional bedrooms resulting from applications for the conversion of non-bedroom spaces and areas to bedrooms in existing single-family dwellings or other residences. The study shall address impacts and effects on the character of those areas of the city, especially the residential neighborhoods in which additional bedrooms would result from the conversion of non-bedroom spaces and areas to bedrooms. The study may address any other issues within the scope of the purpose for the moratorium imposed by this ordinance. The study may recommend amendments to the General Plan, its Housing Element, and/or any provisions in the Municipal Code, including the Zoning Code (Title 9), Building and Construction Code (Title 8), and Short-Term Vacation Rental Regulations (Chapter 3.25). The study prepared by City staff shall be reviewed and considered by the City Council as part of the written report that the City Council must issue ten days prior to the expiration of this ordinance or any extension hereof, pursuant to Government Code Section 65858. SECTION 4: Authority. This Ordinance is declared to be an urgency ordinance by authority conferred on the City Council of the City of La Quinta pursuant to the La Quinta City Charter and Government Code Section 65858. SECTION 5: Adoption. This ordinance is adopted by a four-fifths vote of the City Council pursuant to the authority granted by the California Constitution and state law, in addition to the La Quinta City Charter. SECTION 6: Severability. If any section, subsection, subdivision, sentence, clause, phrase, or portion of this ordinance is, for any reason, held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this ordinance or existing provisions in the La Quinta Municipal Code. The City Council hereby declares that it would have adopted this ordinance and each and every section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared unconstitutional. SECTION 7: Effective Date. This ordinance shall be in full force and effect immediately upon its adoption pursuant to Government Code Section 65858. For the term of this ordinance, or any extension thereof, the provisions of this ordinance shall govern over any conflicting provisions of any other City ordinance, resolution, or policy. SECTION 8: Posting. The City Clerk shall certify the passage and adoption of this ordinance and publish or post the same as required by law. 407 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 12 of 13 PASSED, APPROVED and ADOPTED, at a regular meeting of the La Quinta City Council held this 15th day of May, 2018 by the following vote: AYES: NOES: ABSENT: ABSTAIN: _____________________________ LINDA EVANS, Mayor City of La Quinta, California ATTEST: ___________________________ MONIKA RADEVA, Interim City Clerk City of La Quinta, California (CITY SEAL) APPROVED AS TO FORM: ________________________________ WILLIAM H. IHRKE, City Attorney City of La Quinta, California 408 Ordinance No. Residential Non-bedroom Conversions Moratorium Extension Adopted: May 15, 2018 – URGENCY ORDINANCE Page 13 of 13 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LA QUINTA ) I, MONIKA RADEVA, Interim City Clerk of the City of La Quinta, California, do hereby certify the foregoing to be a full, true, and correct copy of Ordinance No. ___ which was introduced, passed and adopted as an Ordinance pursuant to California Government Code Section 65858 at a regular meeting on the 15th day of May 2018. _________________________________ MONIKA RADEVA, Interim City Clerk City of La Quinta, California DECLARATION OF POSTING I, MONIKA RADEVA Interim City Clerk of the City of La Quinta, California, do hereby certify that the foregoing ordinance was posted on May ____, 2018 pursuant to Council Resolution. _________________________________ MONIKA RADEVA, Interim City Clerk City of La Quinta, California 409 410 City of La Quinta CITY COUNCIL MEETING: May 15, 2018 STAFF REPORT AGENDA TITLE: ADOPT A RESOLUTION APPROVING FISCAL YEAR 2018/19 THROUGH 2022/23 CAPITAL IMPROVEMENT PROGRAM RECOMMENDATION Adopt resolution approving the 2018/19 through 2022/23 Capital Improvement Program. EXECUTIVE SUMMARY  The Capital Improvement Program (CIP) is a five-year program that identifies the scope, budget, and schedule for street, park, facility, and infrastructure projects.  Staff presented the 2018/19 projects on April 11, 2018 and May 9, 2018 to the Financial Advisory Commission (FAC), and on April 17, 2018 to Council.  14 projects are identified for 2018/19 with an estimated cost of $12.3 million. This first year of the CIP Program is called the “Capital Budget”.  The 2018/19 projects will be incorporated into the operating budget and funds appropriated for the Capital Budget on July 1, 2018.  Pursuant to the Government Code, Council must hold a public hearing on the CIP and consider its adoption by resolution after a public hearing. FISCAL IMPACT While the Council is requested to approve the five-year CIP, only the 2018/19 projects are funded as follows: PUBLIC HEARING ITEM NO. 2 411 BACKGROUND/ANALYSIS The CIP presents a five-year assessment of the community’s infrastructure, facility and equipment needs; a five-year funding strategy is also outlined. It is updated annually and the current year CIP projects are included in the Capital Budget. Funds are appropriated and the City then implements the current year CIP projects. The CIP process starts in March of each year and involves the community, Council, and the Financial Advisory Committee. Staff presented 2018/19 CIP projects to the City Council on April 17, 2018, and to the FAC on April 11, 2018 and May 9, 2018. The following is a summary of the 2018/19 projects: 2018/19 CIP Projects  Transportation - Roadway o Pavement Management Plan Slurry Seal Project (Washington Street from Avenida Montero to Calle Tampico) o La Quinta Landscape Renovation Project (Water Efficiency) o La Quinta Village Complete Streets/Road Diet Project o Jefferson Street at Avenue 53 Roundabout  Transportation - Pedestrian o ADA Accessible Ramps – Various Locations o Sidewalks – Various Locations o Highway 111 Sidewalk Improvements  Parks and Facilities o Citywide Preventative Maintenance Plan Improvements o SilverRock Events Center o Cove Public Restroom o ADA Parking Lot Improvements at City Hall  Drainage Enhancements o Citywide Drainage Enhancements (the Eisenhower Drive, Washington Street, and Calle Tampico corridors)  Reimbursement Agreements o Developer Reimbursement for DIF Eligible Improvements  Traffic Signal Improvements o Citywide Traffic Signal Maintenance Improvements 412 Proposed Next Four-Year CIP Projects (not funded)  Transportation - Roadway o Pavement Management Plan Slurry Seal Project (Avenue 52 from SilverRock Way to Jefferson Street) o La Quinta Village Complete Streets/Road Diet Project o La Quinta Landscape Renovation Project (Water Efficiency) o Monroe Street Pavement Rehabilitation (From Avenue 52 to Avenue 53; and Near Avenue 61) o Avenue 50 Bridge Spanning the Evacuation Channel  Transportation - Pedestrian o ADA Accessible Ramps – Various Locations o Sidewalks – Various Locations  Parks and Facilities o Citywide Preventative Maintenance Plan Improvements o La Quinta Skate Park Conversion to Other Activity Amenity  Drainage Enhancements o Citywide Drainage Enhancements the Eisenhower Drive, Washington Street, and Calle Tampico corridors)  Reimbursement Agreements o Developer Reimbursement for DIF Eligible Improvements  Traffic Signal Improvements o Citywide Traffic Signal Maintenance Improvements The Capital Budget is based on existing funds and projected revenues. Projects slated for subsequent years are approved on a planning basis and do not receive expenditure authority until they are incorporated in the Capital Budget. Those projects designated as “Additional Projects” in Attachment 1 do not have identified funding sources. In the case of Development Impact Fee (DIF) funded projects, a long-term collection period is required to accumulate funds before projects are implemented. ALTERNATIVES Council may modify the 2018/19 through 2022/23 CIP. Prepared by: Bryan McKinney, P.E., City Engineer Approved by: Frank J. Spevacek, City Manager Attachment: 1. CIP Unfunded Additional Projects Expenditure Summary 413 414 415 Resolution No. 2018 - Capital Improvement Program Adopted: May 15, 2018 Page 2 416 Project # Project DescriptionGeneral Fund OperatingUnassigned CIP General Fund SavingsArt in Public Places (APP)Measure G Sales TaxSB 1 Road Maint/Rehab Quimby FundsDIF Transportation Measure A Other RevenueOther Revenue SourceTotal 2018/20191819ADA ADA Accessible Ramps - Various Locations 20,00020,0001819CPM Citywide Preventative Maintenance Plan Improvements50,000Equip Replacement Fund50,0001819PMP Pavement Management Plan Street Improvements 1,000,0001,000,0001819STI Sidewalks - Various Locations 55,00055,0001819TMI Citywide Traffic Signal Maintenance Improvements235,000 235,000201503 La Quinta Village Complete Streets - A Road Diet Project95,000 318,000413,000201512 Citywide Drainage Enhancements 477,000 1,166,5001,643,500201603 La Quinta Landscape Renovation Improvement2,129,6132,129,613201608 SilverRock Events Center100,000 3,500,0003,600,000201702 Developer Reimbursement for DIF Eligible Improvements400,000 400,000201709 Jefferson Street at Avenue 53 Roundabout 630,650 5,000 357,500 726,708 81,970Developer Contribution1,801,828201801 Cove Public Restroom456,000456,000201802 ADA Parking Lot Improvements at City Hall52,000CDBG Funds52,000201803 Highway 111 Sidewalk Improvements500,000500,000FY 2018/2019 SUBTOTAL: 1,552,000 1,130,650 200,000 3,296,113 675,500 3,956,000 400,000 961,708 183,970 12,355,9412019/20201920ADA ADA Accessible Ramps - Various Locations 20,00020,0001920CPM Citywide Preventative Maintenance Plan Improvements50,000Equip Replacement Fund50,0001920PMP Pavement Management Plan Street Improvements 1,000,0001,000,0001920STI Sidewalks - Various Locations 55,00055,0001920TMI Citywide Traffic Signal Maintenance Improvements235,000 235,000201503 La Quinta Village Complete Streets - A Road Diet Project689,010 110,990 7,313,100Federal ATP Grant8,113,100201512 Citywide Drainage Enhancements 477,000477,000201603 La Quinta Landscape Renovation Improvement3,859,1033,859,103201702 Developer Reimbursement for DIF Eligible Improvements400,000 400,000201709 Jefferson Street at Avenue 53 Roundabout74,289 74,289201901 Monroe Street Pavement Rehabilitation (Avenue 52 to Avenue 53; and Near Ave 61)941,000 941,000201902 Avenue 50 Bridge Spanning the Evacuation Channel976,750 15,372,250CVAG/Federal HBP16,349,000201903 La Quinta Skate Park Conversion to Other Activity Amenity263,000263,000FY 2019/2020 SUBTOTAL: 1,552,000 0 0 3,859,103 689,010 263,000 1,376,750 1,361,279 22,735,350 31,836,4922020/20212021ADA ADA Accessible Ramps - Various Locations 20,00020,0002021CPM Citywide Preventative Maintenance Plan Improvements50,000Equip Replacement Fund50,0002021PMP Pavement Management Plan Street Improvements 1,000,0001,000,0002021STI Sidewalks - Various Locations 55,00055,0002021TMI Citywide Traffic Signal Maintenance Improvements235,000 235,000201512 Citywide Drainage Enhancements 477,000477,000201603 La Quinta Landscape Renovation Improvement1,408,3561,408,356201702 Developer Reimbursement for DIF Eligible Improvements400,000 400,000202001 Washington Street at Washington Park (Left Turn Lane)258,000 258,000202002 Dune Palms Road at Corporate Center Drive (New Traffic Signal)430,000 430,000202003 Washington Street at Miles Avenue (Dual Left Turn Lanes)382,500 382,500City of Indian Wells765,000202004 Corporate Yard Phase II2,000,0002,000,000202005 Highway 111 at La Quinta Center Drive (Dual Left Turn Lanes)702,790702,790FY 2020/2021 SUBTOTAL: 1,552,000 0 0 3,408,356 702,790 0 400,000 1,305,500 432,500 7,801,146CITY OF LA QUINTACAPITAL IMPROVEMENT PROGRAMREVENUE SUMMARYEXHIBIT AEXHIBIT A 417 418 Project # Project DescriptionGeneral Fund OperatingUnassigned CIP General Fund SavingsArt in Public Places (APP)Measure G Sales TaxSB 1 Road Maint/Rehab Quimby FundsDIF Transportation Measure A Other RevenueOther Revenue SourceTotal 2021/20222122ADA ADA Accessible Ramps - Various Locations 20,00020,0002122CPM Citywide Preventative Maintenance Plan Improvements50,000Equip Replacement Fund50,0002122PMP Pavement Management Plan Street Improvements 1,000,0001,000,0002122STI Sidewalks - Various Locations 55,00055,0002122TMI Citywide Traffic Signal Maintenance Improvements235,000 235,000201512 Citywide Drainage Enhancements 477,000477,000201702 Developer Reimbursement for DIF Eligible Improvements400,000 400,000202101 Jefferson Street at Quarry Lane Mini-Roundabout846,000 846,000202102 Caleo Bay at Avenue 47 (New Traffic Signal)430,000 430,000202103 Washington Street at Lake La Quinta Drive (New Traffic Signal)430,000 430,000202104 Highway 111 at Simon Drive (Dual Left Turn Lanes)650,000 650,000202105 Dune Palms Road Pavement Rehabilitation (Fred Waring Drive to Miles Avenue) 716,846716,846FY 2021/2022 SUBTOTAL: 1,552,000000716,8460 1,260,000 1,731,000 50,0005,309,8462022/20232223ADA ADA Accessible Ramps - Various Locations20,00020,0002223CPM Citywide Preventative Maintenance Plan Improvements50,000Equip Replacement Fund50,0002223PMP Pavement Management Plan Street Improvements 1,000,0001,000,0002223STI Sidewalks - Various Locations 55,00055,0002223TMI Citywide Traffic Signal Maintenance Improvements235,000 235,000201512 Citywide Drainage Enhancements 477,000477,000201702 Developer Reimbursement for DIF Eligible Improvements400,000 400,000202201 Fred Waring Drive Pavement Rehabilitation (Washington Street to Palm Royale Drive)730,896730,896202202 Avenue 58 Pavement Rehabilitation (Jefferson Street to Madison Street)1,441,000 1,441,000FY 2022/2023 SUBTOTAL: 1,552,000000730,8960 400,000 1,676,000 50,0004,408,896TOTAL FISCAL YEARS 2018/19 THROUGH 2022/23: 7,760,000 1,130,650 200,000 10,563,572 3,515,042 4,219,000 3,836,750 7,035,487 23,451,82061,712,321419 420 Project DescriptionQuimby FundsDIFTransportationDIF Parks/RecDIF Maint FacilityDIF Fire OtherOtherRevenue SourceTotal BRIDGE IMPROVEMENTSAD 1 Washington Street Bridge Railing (Replacement)1,070,355 TBD/City of Indian Wells 1,070,355DRAINAGE IMPROVEMENTSAD 2 Eisenhower Drive and Avenue 50 Drainage Improvements468,410 TBD 468,410LANDSCAPE AND LIGHTING IMPROVEMENTS AD 3 Highway 111 Landscape Enhancements (Washington Street Intersection)1,005,586 TBD 1,005,586AD 4 Highway 111 Landscape Enhancements (Adams Street Intersection)944,602 TBD 944,602AD 5 Highway 111 Landscape Enhancements (Dune Palms Road Intersection)884,827 TBD 884,827AD 6 Highway 111 Landscape Enhancements (Medians West City Limit to Adams Street)880,000 TBD 880,000AD 7 Highway 111 Landscape Enhancements (City Entrance Monuments)1,689,000 TBD 1,689,000AD 8 Highway 111 Landscape Enhancements and Auto Display Pads2,329,629 TBD 2,329,629MISCELLANEOUS IMPROVEMENTSAD 9 Sound Attenuation Wall (East Madison at Trilogy)192,115192,115AD 10 Village Area Electric Vehicle Charging Station 205,838 TBD 205,838AD 11 Village Area Parking Structure7,500,000 TBD 7,500,000AD 12 Phase I (Part 2) Golf Cart Routes680,739 TBD 680,739PUBLIC FACILITIESAD 13 City Hall Solar Panels1,000,000 TBD 1,000,000AD 14 Library/Wellness Center Solar Panels1,000,000 TBD 1,000,000AD 15 Corporate Yard - Phase III1,739,383 2,279,411 TBD 4,018,794AD 16 Southeast Area Fire Station2,198,500 2,198,500 County of Riverside 4,397,000AD 17 SilverRock Resort Irrigation and Pump Station Replacement2,281,500 TBD 2,281,500AD 18 Fritz Burns Pool Improvements962,298 358,7021,321,000PARKSAD 19 New Community Sports Park385,376 7,130,537 12,484,087 TBD 20,000,000AD 20 Sports Complex Field Improvements5,551,129 TBD 5,551,129STREET IMPROVEMENTSAD 21 Fred Waring Drive Reconstruction670,000 Measure A 670,000AD 22 Miles Avenue Reconstruction (Adams Street to Dune Palms Road)573,221 TBD 573,221AD 23 Avenue 50 Street Improvements (Washington Street to Madison Street) 939,618 948,259 Dev Contribution 1,887,877AD 24 Avenue 52 Street Improvements290,540290,540AD 25 Avenue 58 Street Improvements (Jefferson Street to Madison Street) 1,730,953 1,997,566 Dev Contribution 3,728,519AD 26 Avenue 62 Street Improvements (Monroe Street to Madison Street) 5,952,644 2,299,384 Dev Contribution 8,252,028AD 27 Madison Street Widening (Avenue 60 to Avenue 62) 1,888,038 2,832,058 Dev Contribution 4,720,096STREET IMPROVEMENTS - BICYCLE PATHSAD 28 Fred Waring Drive Class II Bike Trail (Washington Street to Jefferson Street)101,063 TBD 101,063AD 29 Highway 111 Class II Bike Trail (Washington Street to Indio City Limits)114,538 TBD 114,538AD 30 Avenue 50 Class III Bike Trail (Eisenhower Drive to Washington Street)21,560 TBD 21,560AD 31 Avenue 50 Class II Bike Trail (Washington Street to west of Park Avenue)40,425 TBD 40,425AD 32 Avenue 58 Class II Bike Trail (Jefferson Street to Madison Street)262,763 TBD 262,763AD 33 Avenue 58 Class II Bike Trail (west of Monroe Street to Monroe Street)20,213 TBD 20,213AD 34 Avenue 60 Class II Bike Trail (Monroe Street to Eastern City Limit)13,475 TBD 13,475AD 35 Avenue 62 Class II Bike Trail (Madison Street to Monroe Street)67,375 TBD 67,375AD 36 Eisenhower Drive Class II Bike Trail (Avenida Montezuma to Calle Sinaloa)13,475 TBD 13,475AD 37 Desert Club Drive Class III Bike Trail (Calle Tampico to Avenue 52)10,780 TBD 10,780AD 38 Monroe Street Class II Bike Trail (Avenue 54 to Mountain View Lane)168,438 TBD 168,438STREET IMPROVEMENTS - ROUNDABOUTSAD 39 Westward Ho at Roadrunner Lane Two Lane Roundabout846,000 TBD 846,000AD 40 Madison Street at Avenue 58 Two Lane Roundabout846,000846,000AD 41 Madison Street at Avenue 60 Two Lane Roundabout846,000846,000AD42 Monroe Street at Avenue 52 Two Lane Roundabout211,500634,500 City of Indio846,000AD43Monroe Street at Avenue 54 Two Lane Roundabout423,000423,000 County of Riverside846,000AD 44 Monroe Street at Avenue 58 Two Lane Roundabout423,000423,000 County of Riverside846,000AD 45 Monroe Street at Avenue 60 Two Lane Roundabout846,000846,000AD 46 Monroe Street at Avenue 62 Two Lane Roundabout211,500634,500 TBD/County of Riverside846,000STREET IMPROVEMENTS - TRAFFIC SIGNALSAD 47 Avenue 50 at Orchard Lane (New Traffic Signal)107,500322,500 Dev Contribution430,000AD 48 Jefferson Street at Avenue 54 (New Traffic Signal)322,500107,500 Dev Contribution430,000AD 49 Monroe Street at Airport Boulevard (New Traffic Signal)215,000215,000 County of Riverside430,000AD 50 Monroe Street at Avenue 61 (New Traffic Signal)322,500107,500 County of Riverside430,000TOTAL ADD PROJECTS: 1,347,674 15,768,408 7,489,239 1,739,383 2,198,500 58,321,70686,864,910CITY OF LA QUINTACAPITAL IMPROVEMENT PROGRAMUNFUNDED ADDITIONAL PROJECTS - REVENUE SUMMARYProject #ATTACHMENT 1ATTACHMENT 1 421 422 City of La Quinta CITY COUNCIL MEETING DEPARTMENT REPORT TO: Madam Mayor and Members of the City Council FROM: Bill Ihrke City Attorney’s Office DATE: May 15, 2018 SUBJECT: RECOMMENDATION FOR REMAND AND NEW PUBLIC HEARING AT PLANNING COMMISSION On May 8, 2018, the Planning Commission held a public hearing for, among other entitlements, Amendment to Specific Plan 2017-002, concerning the Pavilion Palms project proposed by applicant Lundin Development Company. Pursuant to state and city law, the Planning Commission’s action was advisory, as final approval authority is with the City Council for the Amendment to Specific Plan 2017-002 and related entitlements. Our office has been apprised that the East Valley Coalition (EVC) made written representations that EVC had involvement with the applicant on this project. One of the planning commissioners works for EVC. While it appears the planning commissioner has no financial conflict of interest because the commissioner’s income from EVC is not determinative on any project, including the Pavilion Palms project, our office received concerns about an appearance of a conflict under common law because the planning commissioner works for EVC. To make sure the applicant receives the full process under state and city law without concern of an appearance of a conflict, our office will be recommending to the City Council that, prior to the Council’s consideration of the project, consideration of the Specific Plan Amendment and other entitlements are remanded to the Planning Commission for a new public hearing without the participation of the planning commissioner who works for EVC. The planning commissioner has represented that he would recuse himself if the project were remanded and if any future consideration of the project came before the planning commission. Our office will coordinate with the City Manager to place an item on a future agenda, likely the June 5, 2018 meeting, for the limited purpose of City Council action to remand the project to the Planning Commission as recommended in this report. DEPARTMENT REPORT ITEM NO. 2 423 424 City of La Quinta CITY COUNCIL MEETING DEPARTMENT REPORT TO: City Manager FROM: City Attorney’s Office Bill Ihrke DATE: May 15, 2018 SUBJECT: Additional Talking Points re Recommendation for Remand and New Public Hearing at Planning Commission  On May 8, 2018, the Planning Commission held a public hearing for Amendment to Specific Plan 2017-002, and other entitlements.  The Applicant is Lundin Development Company for the Pavilion Palms Project  No final decision on any entitlement was made, as Planning Commission could only make a recommendation under state and city laws.  Our office will recommend at the next city council meeting that, instead of proceeding with a public hearing before the City Council on the project, to simply remand the matter back to the Planning Commission to re -start the Planning Commission review process.  Before getting into the specific reason for this recommendation, here are some items to make clear for the record: o About one year ago, Planning Commissioner Wright and I discussed his involvement with the East Valley Coalition and its involvement with potentially having a proposal for a development at Avenue 50 and Jefferson. o We did not discuss any particular developer or specific project, but Commissioner Wright stated that he does not received income from EVC, nor is any of his income determined on whether any project comes before any city for which EVC does work. o At that time, I determined it did not appear that Commissioner Wright had any financial conflict of interest based on income that may limit his ability to participate as a commissioner, and that still appears to be the case today.  However, and now getting to the reason for my recommendation to start the Planning Commission process over, there is a separate doctrine under state law that attempts to ensure “Procedural Due Process.”  This doctrine is meant to prevent participation by public decision-makers (like planning commissioners) if there is an “unacceptable probability o f actual bias on the part of one of the decision-makers,” sometimes called the “common law conflict” doctrine, or “fair hearing” process. DEPARTMENT REPORT ITEM NO. 2 (Supplement)  Our office received a copy of the EVC agenda and EVC Manager’s Report from April 26, 2018. That report identified both Lundin and the specific Pavilion Palms project as going before the La Quinta Planning Commission, with a hope for an approval.  While it is my understanding that Commissioner Wright had no direct contact with Lundin on this project prior to it going before the Planning Commission, and while (as noted above) he appears to have no financial income tied to the project, in an abundance of caution our office determined that, to ensure the applicant is provided a fair and impartial hearing at every stage in the City’s process, a remand of the project back to the Planning Commission is appropriate.  Last week, I advised Commissioner Wright of our office’s recommendation, and he completely understood the reasoning for it and expressed his willingness to recuse himself from any remand or other future hearings at the Planning Commission on this project.  Please be advised that court cases on this common law doctrine are very fact-specific, and there is no “bright line” test for applying the standard of “an unacceptable probability of actual bias on the part of one decision - maker.”  But, as this Council knows, I prefer to fall on the side of caution, and courts have ordered that a remand to the Planning Commission, without the participation of the decision-maker who may be a source of any bias, is the appropriate remedy.  Therefore, our office will recommend a remand to the Planning Commission, without any consideration or direction from the City Council, to “re-do” the Planning Commission’s public hearing and review process. D E S I G N A N D D E V E L O P M E N T D E P A R T M E N T R E P O R T -   A P R I L 2 0 1 8 A P R I L 2 0 1 8 R E P O R T T H E D E S I G N A N D D E V E L O P M E N T D E P A R T M E N T R E P R E S E N T S O N E O F S I X C I T Y D E P A R T M E N T S , A N D C O N S I S T S O F S I X D I V I S I O N S : T H E H U B , P L A N N I N G , B U I L D I N G , P U B L I C W O R K S D E V E L O P M E N T , E N G I N E E R I N G S E R V I C E S , A N D A D M I N I S T R A T I O N .     Design and Development Department the HUB The Hub serves as a one-stop shop for La Quinta patrons. It is the central location for obtaining permits for planning, building, engineering, garage sales, and special events. The Hub assists customers through the permitting process from initial questions and pre-application meetings through inspections and final certificate of occupancy. Below are some April 2018 metrics: CUSTOMER SATISFACTION Permit and Project Fees Collected $199,490.48 $536,021.17 STVRP Permits 40 337 748886 78 292 Business Licenses Phone Calls Received Total Customers Served Total Issued Permits  Total  E-TRAKiT Permits TOT Collected In June 2016, The Hub launched a survey to measure the satisfaction of its customers. The survey uses a one to five star rating system, with “Five Stars” being excellent. The Hub Customer Satisfaction survey results for the month of April 2018 were stellar! 0 25 50 75 100 Wait TimeHelpfulnessQualityDepartment Report Item No. 5 425 D E S I G N A N D D E V E L O P M E N T D E P A R T M E N T R E P O R T - A P R I L 2 0 1 8 A P R I L 2 0 1 8 R E P O R T Design and Development Department PLANNING ACTIVITY BUILDING The Building Division administers all building permit applications and plans for compliance with requirements established in the entitlement process, La Quinta Municipal Code, and all currently applicable California Building Standards Codes. Includes sign applications, temporary use permits, minor use permits, final landscaping plans, etc. Planning Permits 2018 2017 April Year Year to Date 1,073 10,380 961 8,437 2018 2017 April Year Year to Date 13 155 13 113 Building Permits Issued 20172018 19 1,708 119114 27 1,501 Year April April E-TRAKiT Year to Date 20172018 116 15 1,913 137 32 1,885 Year April April E-TRAKiT Year to Date Building Permits Submitted Building Inspections Building Permits Submitted Submitted Applications Building Permits Issued The Planning Division works with residential and commercial property/business owners and developers to ensure development in the City is constructed consistent with the City’s goals and policies. 426 D E S I G N A N D D E V E L O P M E N T D E P A R T M E N T R E P O R T - A P R I L 2 0 1 8 A P R I L 2 0 1 8 R E P O R T Design and Development Department TRAFFIC & CIP SHORT-TERM VACATION RENTAL THE PROGRAM The Short Term Vacation Rental Program, Vacation LQ, continues to grow, as new properties register each month. During the month of April 2018, the following permits were issued and TOT collected: The Development Division provides engineering assistance with a variety of permits. During the month of April 2018, the following number of permits and applications were processed: The Engineering Services Division provides engineering design and construction oversight and traffic support on a variety of infrastructure projects that help keep La Quinta safe and beautiful. Highlighted below are some activities for April 2018: ENGINEERING SERVICES PUBLIC WORKS DEVELOPMENT CIP PROJECTS IN PROGRESS TRAFFIC • Construction is almost complete for the Point Happy Storm Drain Outlet Structure project, which entails the removal and replacement of the 60” drainage outlet with flap gate. • Construction is almost complete for the Roudel Drainage Improvements project, which entails installation of a 15” drainage outlet with trash grate, grading of material covering the existing concrete slope protection, removal of existing catch basin and the installation of a new 2-stage drywell system at Roudel Lane. • The contractor for the PMP FY 2016/17 Phase 2: Desert Club Estates and Avenida Montezuma Slurry Seal and Pavement Rehabilitation project has finished the striping modifications and a Final Inspection is being scheduled. 67 requests for service were recorded in City’s GORequest system in April 2018, including: · Operational checks of crosswalks, warning beacons, and flashing stop signs · Repair of safety and street sign lighting · Installation of CycleGrip bike detection symbols STVRP TOT Collected Permits Issued in April 2017 2016Year January $109,867.25 $75,323.58 Currently Active Permits 40 948April$405,334.02 $221,904.07 2017Year 2016 20172018Year April Year to Date 1 16 1 26 20172018Year April Year to Date 0 4 6833 STVRP Permits Project Reviews Completed Permits Issued STVRP TOT Collected Year April 2018 2017 $111,812.21 $183,773.08 $376,082.15 $397,317.40 Year to Date 427 428 • • • • •          6 429 430 Lighting/Electrical $208.73 Seminars/Training $394.62 Irrigation/Weeds/Tree Trimming $2,676.11 Painting $339.78 Inspection Maint $3,837.14 Walkways $154.38 Athletic Field Insp. $77.19 Gopher & Dog Holes, Pest Control $416.97 Debris Litter Removal $507.61 Sign Maint $139.23 Park Maintenance $543.50 Plant Installation $231.57 Graffiti $1,522.00 Playground Equipment Insp. $622.58 Meeting $1,143.73 Parking Lot Repairs $62.04 Trail Maint $1,776.09 Fencing Wall Repairs $463.14 Lighting/Electrical Seminars/Training Irrigation/Weeds/Tree Trimming Painting Inspection Maint Walkways Athletic Field Insp. Gopher & Dog Holes, Pest Control Debris/Litter Removal Sign Maint Park Maintenance Plant Installation Graffiti Playground Equipment Insp. Meeting Parking Lot Repairs Trail Maint Fencing Wall Repairs 431 432 Graffiti Removal $1,915.80 Inspection $572.16 Sidewalk Concrete Repairs $723.83 Lighting - Medians $1,243.18 Tree Issues $42.77 Street Signs $2,468.49 Vehicle Equipment Maint $582.27 Curb Painting $1,350.98 Storm Drain Repair & Maint $467.79 Maint Yard Building Maint $317.44 Debris Litter Removal $1,470.60 Seminars/Training $148.96 Pothole or Street Repair $1,396.92 Gutter/Sand Removal $4,820.78 Street Sweeping $801.99 Graffiti Removal Inspection Sidewalk/Concrete Repairs Lighting - Medians Tree Issues Street Signs Vehicle/Equipment Maint Curb Painting Storm Drain Repair & Maint Maint Yard/Building Maint Debris/Litter Removal Seminars/Training Pothole or Street Repair Gutter/Sand Removal Street Sweeping 433 434 Janitorial $124.08 Facilities Maintenance $1,356.41 General Repairs $141.85 Personnel Requests $646.48 Uplevel Project $256.24 Carpentry & Hardware $939.52 Museum Personnel Requests $99.12 Museum Electrical $44.75 Museum General Repairs $358.00 Museum Preventative Maint $44.75 Meetings $948.27 Library Personnel Requests $311.16 Library HVAC $155.58 Library Janitorial $96.09 Library Plumbing $155.58 Preventative Maint $869.80 HVAC $308.87 Plumbing $759.29 Security Alarms $198.24 Training/Classes $388.95 Electrical $1,466.25 Paint $489.61 Fire Station Preventative maint $64.06 Fire Station Electrical $254.46 Fire Station Janitorial $64.06 Fire Station General Repairs $122.54 Fire Station Plumbing $516.80 Fire Station HVAC $351.87 Fire Station Personnel Requests $300.99 Janitorial Facilities Maintenance General Repairs Personnel Requests Uplevel Project Carpentry & Hardware Museum Personnel Requests Museum Electrical Museum General Repairs Museum Preventative Maint Meetings Library Personnel Requests Library HVAC Library Janitorial Library Plumbing Preventative Maint HVAC Plumbing Security / Alarms Training/Classes Electrical Paint Fire Station Preventative maint Fire Station Electrical Fire Station Janitorial Fire Station General Repairs Fire Station Plumbing Fire Station HVAC Fire Station Personnel Requests 435 436 Customer Satisfaction Survey Details 04/01/2018 to 04/30/2018 Request: 32417 Survey Entered: 04-04-2018 Request Entered: 03/07/2018 Closed: 03/28/2018 Days Open: 20 Topic: Landscape/Irrigation Contract Management - 1050 Employee: James Lindsey Customer: Dori Quill Description: The DG on the west side of Washington just north of Highland Palms Drive looks terrible and needs to be smoothed out Reason Closed: Compacted DG, Conservelandcare will trim the plants and rake on Wednesday 3/28 Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded Request: 32551 Survey Entered: 04-03-2018 Request Entered: 03/15/2018 Closed: 03/27/2018 Days Open: 12 Topic: Street Sign Repair & Maint Employee: James Lindsey Customer: Laura Schuler Description: I have complained about this issue before, but I feel like nothing has been done to attempt to do anything about this. In the last 3 days I've seen 2 cars blow through this stop sign without a second glance. People CANNOT walk on the painted crosswalk beca use it is not highlighted enough and nothing there to indicate a safe passage for pedestrians. Your park in North La Quinta near the high school has a crosswalk with flashing lights on the road. This would be helpful. Perhaps even a stop light. A roundabou t is dangerous and that was the response I got from some person in the city. The one on Sinaloa and Eisenhower is useless and trash. I have a 2 year old and we've almost been hi t at both locations. It is unsafe! If nothing is done, I will videotape at that intersection until someone actually does something about this. I'm in shock that my city takes in my tax dollars and pays their council members and other government employees gobs of money to not look after the safety of their citizens and children. Reason Closed: Thank you for reporting your concern about the traffic signal/signage at Eisenhower Dr. and Montezuma. The City currently mai ntains 51 traffic signals. It is our highest priority to ensure that the signals operate properly and signage maint ained. This is not a maintenance issue. Your concerns have been given to the City's Traffic Engineer and to The police Department. This is a Police enforcement issue. If you require further assistance please contact James Lindsey at (760) 777-7052). Service Effectiveness: No answer Response Times: Poor Quality of Service: No answer Expectations Met: Below Comments: Passing the buck is not a good look on you. Request: 32557 Survey Entered: 04-02-2018 Request Entered: 03/15/2018 Closed: 03/26/2018 Days Open: 11 Topic: FS/Misc/General Repairs Employee: Alfred Berumen Customer: Reyna Camarena Description: clothes dryer is not working. Reason Closed: work done Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded 437 Request: 32631 Survey Entered: 04-02-2018 Request Entered: 03/21/2018 Closed: 03/26/2018 Days Open: 5 Topic: Graffiti Removal (Right-of-Way) - 1071 Employee: James Lindsey Customer: Richard Schwemmer Description: Graffiti: There is spray painted graffiti on the electrical box located on Dune Palms Rd just south of Blazing Star Trail at the entrance of Cactus Flower development. Reason Closed: Work done Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Met Comments: Easy to use and quick response from employees. Web site has changed since last time I used it. Had difficulty finding the Gor equest. Request: 32694 Survey Entered: 04-06-2018 Request Entered: 03/27/2018 Closed: 03/30/2018 Days Open: 3 Topic: Parks/Lighting/Electrical Employee: Robert Ambriz Jr. Customer: C Barron Description: There's some lights on the paved path that goes around the park at the La Quinta Soccer Park that are out. Can they be replac ed? Reason Closed: Repairs were made. Walkway lights are working again. Bad ballast was tripping the breaker. Electrician iso lated bad ballast and replaced. Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded Request: 32797 Survey Entered: 04-04-2018 Request Entered: 04/03/2018 Closed: 04/04/2018 Days Open: 1 Topic: Landscape/Irrigation Contract Management - 1050 Employee: James Lindsey Customer: Roper Morris Description: No maintenance on this corner of the citrus property? Please advise as to if this section is being replaced like the citrus o n ave 52? Reason Closed: Removed weeds work done Service Effectiveness: Good Response Times: Superior Quality of Service: No answer Expectations Met: Exceeded Comments: Took care of it the next day and did a great job. Thank You 438 Request: 32800 Survey Entered: 04-23-2018 Request Entered: 04/03/2018 Closed: 04/09/2018 Days Open: 6 Topic: Landscape/Irrigation Contract Management - 1050 Employee: James Lindsey Customer: cindi scribner Description: the median on 50th street between Jefferson and Eisenhower is still unsightly. I complained several months ago about how tack y it looks and nothing has changed. at least prune away the dead so that it doesn't look so bad..... money has been spent on other medians....why not this one? Reason Closed: Thank you for reporting the landscape concern/ problem on Ave 50 between Jefferson and Eisenhower. The City's contract landsc aper has gone back through Ave 50 and trimmed /pruned the plants. Yes, some funds has been spent in north La Quinta median areas to restore the landscape. Ave 50 is also scheduled to be restored in the future. If you require further assistance, please contact James Lin dsey at (760) 777- 7052. Service Effectiveness: Good Response Times: Good Quality of Service: Good Expectations Met: Met Request: 32823 Survey Entered: 04-09-2018 Request Entered: 04/04/2018 Closed: 04/09/2018 Days Open: 5 Topic: Library Personnel Request Employee: Alfred Berumen Customer: Minerva Ochoa Description: Need Table set with 2 chairs assembled. Reason Closed: work done Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded Request: 32861 Survey Entered: 04-11-2018 Request Entered: 04/07/2018 Closed: 04/10/2018 Days Open: 3 Topic: Library Personnel Request Employee: Alfred Berumen Customer: Minerva Ochoa Description: Need hook installed at front circulation desk under clock. Reason Closed: work done Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded 439 Request: 32865 Survey Entered: 04-16-2018 Request Entered: 04/08/2018 Closed: 04/09/2018 Days Open: 1 Topic: Landscape/Irrigation Contract Management - 1050 Employee: James Lindsey Customer: Debra Salado Description: Both sides of Tampico are an eye sore, and it’s the entrance to Desert Club Estates. Is the city responsible for maintaining these areas ? The power boxes have been bent over for years and the North side corner is just a messy lot full of easements. I would think that the city would want these areas to look nice considering it’s right across the street from city hall! Reason Closed: The City is responsible for maintaining the two planter areas at Calle Tampico and Washington Street and the Landscape along Washington Street.. The areas to the east, are the property owners responsibility to maintain. The two power boxes are the responsi bility of the phone company /IID. They have been notified in the pass regarding the condition of the boxes. If you require further assistance, pl ease contact James Lindsey at (760) 777-7052. Service Effectiveness: Good Response Times: Good Quality of Service: Good Expectations Met: Below Comments: Basically the answer I got was, "not the cities problem". I would think the city would be interested in these areas and want them to be maintained and look nice, especially right across from city hall! The person they said to contact was James Lindsey, so I called an left a message with my concerns, to date I have not heard from him. I don't know who owns the lot on the north side, it does not loo k like a property that can be built upon considering the many easements, but at least maybe try to make it look a little nicer. It looks so trashy with the wood fence that is being held up by several posts and the debris and weeds that are always present. The area on the south side has two utility boxes and one looks like it 's going to fall over, and has looked that way for the past 6 years that I know of. I was told the boxes belong to IID and they were notified in the past, Well maybe notify them again! A lot of people come into our area with the art shows and f estivals etc.. and Tampico is a busy street right off Washington, it should look nice! Request: 32899 Survey Entered: 04-19-2018 Request Entered: 04/11/2018 Closed: 04/12/2018 Days Open: 1 Topic: Debris/Litter Removal/Right of Way Maint - 1011 Employee: James Lindsey Customer: Phil Cordova Description: Glass in lane Reason Closed: Completed/ removed glass Service Effectiveness: Superior Response Times: Superior Quality of Service: No answer Expectations Met: Exceeded Request: 32969 Survey Entered: 04-23-2018 Request Entered: 04/14/2018 Closed: 04/16/2018 Days Open: 2 Topic: Parks/Trail Maintenance Employee: Robert Ambriz Jr. Customer: Bill Aitken Description: Mattress on Mountian Reason Closed: Done. Removed mattress. Service Effectiveness: No answer Response Times: Superior Quality of Service: No answer Expectations Met: Met 440 Request: 32979 Survey Entered: 04-23-2018 Request Entered: 04/16/2018 Closed: 04/16/2018 Days Open: 0 Topic: Parks/Trail Maintenance Employee: Robert Ambriz Jr. Customer: Braun Description: There is a mattress across from the oasis trail straight up from tecate and madero....it is on the hill - stand at the oasis look east on the hill....there it is...i would have sent to linda cause maybe she has seen it while walking her dog, Rufus. Reason Closed: Done. Removed mattress. Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded Request: 33013 Survey Entered: 04-25-2018 Request Entered: 04/18/2018 Closed: 04/25/2018 Days Open: 7 Topic: Library/Janitorial Employee: Alfred Berumen Customer: Minerva Ochoa Description: Need benches and area in main court yard washed. The benches are really dirty and customers are not able to sit on them. We w ill be having our Dia Del Nino Event This Saturday April 21, 2018 and would like them washed by Friday April 20, 2018. Also our tra sh can is full and needs to be emptied. Reason Closed: work done. Service Effectiveness: Poor Response Times: Poor Quality of Service: No answer Expectations Met: Below Request: 33021 Survey Entered: 04-25-2018 Request Entered: 04/18/2018 Closed: 04/18/2018 Days Open: 0 Topic: FM/Electrical Employee: Alfred Berumen Customer: Marcie Graham Description: Light flickering in my office. Reason Closed: Work is done. Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Exceeded Comments: I appreciate the timely manner that requests are responded to. The team always does a wonderful job in being efficient and co nsiderate of my schedule that can affect their timeline. 441 Request: 33033 Survey Entered: 04-30-2018 Request Entered: 04/19/2018 Closed: 04/23/2018 Days Open: 4 Topic: Tree Issues Employee: James Lindsey Customer: Annie Nsthenson Description: The old Sams Club has a Palos Verdes tree limb hanging facing Dune Palms and other trash thrown all around. They have left al l the palm trees to die with no watering. Who lets expense palm trees die? Looks like a graveyard over there. There is a big box of trash thrown against a common wall going north from Calle Tampico on Eisenhower just past the bridge near Hacienda homes. If it already hadn’t been picked up can it be done with this request. Thank you Keeping LaQuinta beautiful. Annie Nathenson LaQuinta Reason Closed: Completed prior to receiving gorequest. Service Effectiveness: Superior Response Times: Superior Quality of Service: Superior Expectations Met: Met 442 29 443 444 445 446 HAND OUTS CITY COUNCIL MEETING MAY 15, 2018 COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MR. LES ZENDEL ON PRESENTATION NO. 1 DESERT HEALTHCARE DISTRICT/FOUNDATION COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MR. LES ZENDEL ON PRESENTATION NO. 1 DESERT HEALTHCARE DISTRICT/FOUNDATION Mark L. Johnson 78370 Via Dijon La Quinta, CA 92253 Phone: 760-777 -2698 email:mark18trek@gmail.com May 11, 2018 City Council City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Subject: City Council Meeting-May 15, 2018-Business Session Item 3-Approve SilverRock Resort 2018/19 Annual Plan and Item 4-Approve First Amendment To Golf Course Management Agreement With Landmark Golf Management LLP For SilverRock Golf Course Management Services Dear City Council: The proposed SilverRock Resort 2018/19 Annual Plan has projected Revenues of $3,837,397 with associated Expenditures of $3,812,541 for a positive net income of $24,856. The City of La Quinta’s (City’s) budget includes $122,900 for SilverRock oversight to be funded by only $50,000 from the General Fund and $50,000 from the SilverRock Reserve. Including the positive net income noted above yields a slight budget surplus! This is a dramatic turnaround as the golf course operation will be slightly profitable for the first time. Landmark Golf Management LLP (Landmark) and the City are to be commended for this achievement. Landmark's five-year Management Agreement expires on June 30, 2018. Robert Green & Company is expected to take over the Golf Course in November 2019 or maybe sooner. It makes sense to extend the existing Management Agreement by one year. In addition, Landmark has made great progress in addressing the items in the LQ Golfers Report-June 2016 and also all the comments in my SilverRock Resort 2017/18 Annual Plan comment letter from last year. Accordingly, I support Item 3 and Item 4. We really appreciate the physical and management improvements at SilverRock. SilverRock is no doubt the best public resort golf course in the Coachella Valley! Keep up the great work! Regards, Mark L. Johnson cc: Frank Spevacek, City Manager Steve Howlett, Facilities Director Randy Duncan, SilverRock General Manager Robert Green, Robert Green & Company COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MR. MARK JOHNSON PUBLIC COMMENT ON BUSINESS SESSION ITEM NOS. 3 & 4 - SRR ANNUAL PLAN & LANDMARK GOLF MGMT SERVICES 1 Monika Radeva From:Mark Johnson <mark18trek@gmail.com> Sent:Friday, May 11, 2018 4:06 PM To:Monika Radeva Cc:Kathleen Fitzpatrick; Robert Radi; John Pena; Steve Sanchez; Linda Evans; Frank Spevacek; Steve Howlett; Karla Campos; George Batavick; Richard Mills; Robert S. Green; Randy Duncan Subject:City Council Meeting-5/15/18-Business Items 3 & 4 Attachments:MLJ Letter-City of LQ-City Council Meeting-5-15-18-SilverRock Annual Plan & Management Agreement Extension-MLJ-5-11-18.pdf Monika:    Attached is my supportive letter for City Council Meeting‐5/15/18‐Business Items 3 & 4.    I have also written a more detailed supportive blog at www.lqgolfers.com .    All the Best,          Mark                  Mark Johnson  mark18trek@gmail.com  (760) 777‐2698    COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MR. MARK JOHNSON PUBLIC COMMENT ON BUSINESS SESSION ITEM NOS. 3 & 4 Cynthia J Kurtz 79-975 Via Mara Villa La Quinta, Ca May 13, 2018 Mayor Evans La Quinta City Hall 78-495 Calle Tampico La Quinta, CA 92253 Re: Proposal at Jefferson and 50th Dear Mayor Evans and City Council: I write regarding the proposed project (“Pavilion Palms”) at Jefferson and 50th in La Quinta. I am aware that the property is zoned commercial and defer to the judgement of the Council as to the zoning. While commercial zoning might be appropriate for this property, any commercial use must take into account that this property is surrounded by residential developments on three sides. I hope you will agree that this location makes it critical that the commercial uses approved for this property need to be compatible with its neighboring residential and commercial developments. While I would prefer that primary uses be office, it appears the market is dictating otherwise. Restaurants and retail can be compatible uses as well if they are well built and maintained. A gas station is not compatible. Nor are any uses that are permitted to operate 24 hours per day. People’s homes are adjacent to this development and they deserve the right to quiet and peaceful evenings and nights. The additional traffic is requiring the addition of two turn lanes in the Jefferson and 50th intersection which is already a very large expanse of asphalt and heat. Please consider a reduced density that would reduce the traffic and the need for such a large road addition. Finally, I ask that you be diligent about the design quality of the project. It does not matter if it is Spanish or Modern, but it matters immensely that it be constructed of quality materials. La Quinta is known as the “Gem of the Desert.” The Council has upheld this standard in its public projects. The developer’s work is known to us through other projects, such as one on Washington Street in Bermuda Dunes, and it does not reflect attention to quality. I hope that La Quinta would require a quality that is at a minimum that of the Ralphs Indio development directly across Jefferson and demand an even a higher standard since it is La Quinta. COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MS. CYNTHIA KURTZ PUBLIC COMMENT ON DEPARTMENT REPORT ITEM NO. 2 - PAVILLION PALMS PROJECT In summary please: 1. Remove the gas station 2. Do not allow any 24 hour uses 3. Change uses and density to reduce traffic so only one additional turn lane is required 4. Require quality design and materials Thank you for considering my concerns. Sincerely, Cynthia J. Kurtz CC. Frank Spevacek, City Manager COUNCIL MEETING - MAY 15, 2018 - BY MS. CYNTHIA KURTZ PUBLIC COMMENT ON DEPARTMENT REPORT ITEM NO. 2 - PAVILLION PALMS PROJECT 1 Monika Radeva From:Monika Radeva Sent:Monday, May 14, 2018 2:13 PM To:Cynthia Kurtz Cc:Teresa Thompson Subject:RE: proposed project at 50th and Jefferson Good afternoon Ms. Kurtz, Your letter regarding the Pavilion Palms project has been forwarded to the Mayor and Council Members. Have a wonderful day. Monika Radeva | Deputy City Clerk, CMC City of La Quinta 78495 Calle Tampico ◦ La Quinta, CA 92253 Ph. 760.777.7035 MRadeva@la-quinta.org -----Original Message----- From: Cynthia Kurtz [mailto:cjkurtz626@gmail.com] Sent: Monday, May 14, 2018 11:27 AM To: Susan Maysels <Smaysels@la-quinta.org> Cc: Frank Spevacek <Fspevacek@la-quinta.org> Subject: proposed project at 50th and Jefferson Dear Madam City Clerk: Please provide the attached letter to the Mayor and City Council and include it as part of the record for any future public hearings. Thank you. Cynthia Kurtz COUNCIL MEETING - MAY 15, 2018 - BY MS. CYNTHIA KURTZ PUBLIC COMMENT ON DEPARTMENT REPORT ITEM NO. 2 - PAVILLION PALMS PROJECT May 14, 2018  La Quinta City Council   La Quinta City Hall, 78495 Calle Tampico, La Quinta, California  Ladies and Gentlemen,  Thank you for the opportunity to provide additional feedback on the proposed Pavilion Palms  development at the Northwest corner of Avenue 50 and Jefferson. As it is currently designed, the  development will adversely affect the neighboring communities of Palmilla, Renaissance, Mountain  View, Citrus, and Estancia.   Of significant concern is the long term viability and maintenance/appearance of the shopping  center.  With only a “letter of intent” from the anchor business and no other businesses secured by  Lundin Development, there is a very high probability for less than a full build out. How will the City  ensure that this developer who has a history of poor quality management be held accountable not  to leave our neighborhood looking like the Showcase @ Indio or the Sam’s Club?   Additionally, what is the plan for the fuel center, if the Pavilions Market does not make it? Recently,  two Pavilions markets in Southern California closed.    We attended the Planning Commission hearing on May 8th and it was disturbing that no one  brought forth why the City Planners think this proposed development is a good idea.   Is there really a market demand with a 14% commercial vacancy rate in La Quinta? And is there a  need to duplicate services that are easily available in Old Town, on Washington and Highway 111?  A "LA‐Style" strip mall of this magnitude at this location diminishes property values and does not  truly fit the small town La Quinta lifestyle. The plan should undergo close scrutiny and extensive  modification to minimize noise, light and air pollution, as well as traffic and telecommunications  overload. A development with a "village vibe" and farmers market style amenities would better suit  the needs and aesthetics of the community and our neighborhood  At a minimum, the fuel center/mini mart and four drive through buildings should be eliminated  from the plans. Per the traffic study funded by Lundin Development, there will be a 13,000 vehicle trip  increase in traffic per day on the Jefferson/Avenue 50 corridors. Some 5,000 of the trips are associated  with the fueling station/mini mart and drive through restaurants.  Finally, the proposed 40 foot LED light poles in the parking lot are ludicrous. Shielding and down  lighting will not eliminate the aesthetics of a light pole jungle visible to the surrounding neighbors. That  height is certainly not necessary to adequately illuminate the parking lot whether or not it complies with  the height limits of the Community Commercial District. Based on the location of this property, every  allowable commercial standard must be scrutinized for reasonability and modified, as appropriate, to  sustain a quality residential neighborhood.    Thank you for your critical, detailed review of this project.   Respectfully,   Robert Lang  Marilyn Lang  50460 Via Amante  La Quinta, CA. 92253  COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MS. MARILYN LANG PUBLIC COMMENT ON DEPARTMENT REPORT ITEM NO. 2 - PAVILLION PALMS PROJECT 1 Monika Radeva From:Wanda Wise-Latta Sent:Monday, May 14, 2018 8:34 AM To:Teresa Thompson Cc:Monika Radeva Subject:FW: Pavilion Palms Public Comment Attachments:CityCouncilletter_May2018.docx Teresa ‐ I am forwarding the email.  The attached letter is addressed to Council.  Monika – for your records    Wanda Wise-Latta |Executive Assistant City of La Quinta 78495 Calle Tampico ◦ La Quinta, CA 92253 760.777.7118 From: Marilyn Lang [mailto:lang.mar80@icloud.com] Sent: Sunday, May 13, 2018 6:38 PM To: Wanda Wise-Latta Subject: Pavilion Palms Public Comment Ms. Latta, Please share the attached letter with the City Council members. Thank you very much. Marilyn Lang COUNCIL MEETING - MAY 15, 2018 - HAND OUT BY MS. MARILYN LANG PUBLIC COMMENT ON DEPARTMENT REPORT ITEM NO. 2 - PAVILLION PALMS PROJECT POWER POINTS CITY COUNCIL MEETING MAY 15, 2018 5/16/2018 1 City Council Meeting May 15, 2018 City Council Meeting May 15, 2018 P1 – Desert Healthcare District Proposed Expansion C3‐Receive and File the 4th Quarter Fiscal Year 5/16/2018 2 Proposed Expansion: Desert Healthcare District/Foundation City of La Quinta City Council Meeting May 15, 2018 Presented by: Les Zendle, MD, Board President Herb K. Schultz, Chief Executive Officer MISSION & VISION Mission To achieve optimal health at all stages of life for all District residents Vision Connecting Coachella Valley residents to health and wellness services and programs through philanthropy and resources, health facilities, information and community education, and public policy 5/16/2018 3 ABOUT THE DISTRICT/FOUNDATION •The current Desert Healthcare District/Foundation (DHCD/F) includes the cities of Desert Hot Springs, Palm Springs, Cathedral City, Rancho Mirage, part of Palm Desert (west of Cook), a small portion of Indian Wells and unincorporated areas surrounding the cities. •The DHCD/F is 70 years old, governed by 5 members elected by voters, and funded through the receipt of a very small portion of property taxes already paid to Riverside County by property owners. •Residents in both the current and new proposed portions of the DHCD/F pay the same rate of property tax to Riverside County. ABOUT THE DISTRICT/FOUNDATION •DHCD/F is one of the largest funders of health and wellness services and programs in the Coachella Valley •DHCD/F has provided more than $70 Million to community-based organizations, providers, school districts, and others for services and programs to benefit community residents •DHCD/F owns Desert Regional Medical Center, but Tenet Healthcare leases and operates the hospital 5/16/2018 4 INTRODUCTION: TRANSFORMATION Starting almost three years ago, the DHCD/F began undertaking extensive work to address the health needs in the Coachella Valley, including a six-month process to develop a first-ever, health- focused, and comprehensive three-year Strategic Plan. It was adopted in June of 2017 STRATEGIC PLAN: Strategic Priority 1 New Providers, Facilities, Programs and Services – Provide facility, provider and service initiatives that enhance delivery system capacity 5/16/2018 5 STRATEGIC PLAN: Strategic Priority 2 One Coachella Valley – Strengthen community health outcomes by implementing a District expansion that enhances and broadens community funding, considers the health needs of all residents, and effectively engages residents in the entire Coachella Valley COACHELLA MAP (Current District/East Valley Expansion) 5/16/2018 6 STRATEGIC PLAN: Strategic Priority 3 Community Health and Wellness – Demonstrably improve community health in the Coachella Valley leveraging DHCD/F investments and activities STRATEGIC PLAN: Community Health Focus Areas • Homelessness • Primary Care and Behavioral Health Access • Healthy Eating, Active Living • Quality, Safety, Accountability and Transparency 5/16/2018 7 ONE COACHELLA VALLEY (East Valley Expansion) Public Engagement • With the people, organizations, and institutions of the East (and West) CV • Everyone recognizes the health care disparity through out the Coachella Valley • Cook Street is an artificial boundary • The people in the East Valley want REPRESENTATION (a voice) in the decision-making to address these disparities • Residents believe it is more important to start with REPRESENTATION rather than waiting until more funding can be secured HEALTH CARE DISPARITIES • Lack of (or limited) access to primary, behavioral and oral health care • Social Determinants of Health • Income • Education • Food security • Transportation 5/16/2018 8 ANNEXATION/EXPANSION PROCESS • Expansion process per Assembly Bill 2414 (Assemblyman Garcia, 2016) • Application submitted to LAFCO (January 2017) • Extensive Public Engagement – REPRESENTATION • District/County Negotiation on Increment of Property Tax Revenue (Early 2017) • DHCD Board set GOAL of $4M for annexation territory to • DHCD Board put forward an INITIAL investment of $6M ($300K/year for 20 years), but continue to search of other public and private funds (February, 2018) • Board of Supervisor recommends LAFCO approval (April 10, 2018) • LAFCO Public Hearing and approval (April 26, 2018) • August 10 – Ballot Deadline • Placement on November 2018 ballot (only East Valley voters) WEST VALLEY FUNDING (“Indirect” Impacts on City of La Quinta) • Eisenhower Medical Center • Desert Regional Medical Center • Coachella Valley Rescue Mission • Volunteers in Medicine • Martha’s Village and Kitchen • CSU San Bernardino – Palm Desert Campus • FIND Food Bank 5/16/2018 9 MAJOR ISSUES AFFECTING INDIAN WELLS (East Valley Expansion) Two key initiatives: A. $2 million collaborative/collective fund that supports programs and infrastructure to address the Homeless crisis in the Coachella Valley B. $2 million collaborative/collective fund that supports programs, services, workforce and infrastructure to address Access to Behavioral Health CONTACT INFORMATION Les Zendle, MD, Board President Herb K. Schultz, Chief Executive Officer Desert Healthcare District/Foundation lzendle@dhcd.org hschultz@dhcd.org (760) 323-6113 5/16/2018 10 City Council Meeting May 15, 2018 B1 - Approve Investment Policy for FY 2018/19 C3‐Receive and File the 4th Quarter Fiscal Year 5/16/2018 11 Summary of Changes •Aligned with State Code •Removed redundant information, most  notably charts •Removed RFP for professional services and  broker questionnaire Allowable Investments Investment Type 2017-18 Policy 2018-19 Policy CD's 30% 30% U.S Treasuries No limit No Limit Federal Agencies 30% with differing caps on amount per issuer No limit, and uniform caps on amount per issuer Prime Commercial Paper 15% 25% LAIF $50 Million $65 Million Money Market Mutual Funds 20% 20% Corporate Notes 10% 30% Professionally Managed Account 10% 50% Local Agency Bonds 30% No Limit All Other Securities Not listed As allowed by Code 5/16/2018 12 Discussion and Questions 5/16/2018 13 City Council Meeting May 15, 2018 B2 – Approve General Fund Balance and Reserves Policy C3‐Receive and File the 4th Quarter Fiscal Year Summary of Process •FAC subcommittee established 8/9/2017 •Subcommittee meetings held 8/21, 8/29, 9/11,  9/21, 9/29, and 10/18/2017 •First draft presented to FAC 11/15/2017 •Study sessions held at City Council meetings 2/6  and 4/3/2018 and at FAC meetings 2/12 and  4/11/2018 5/16/2018 14 Policy  •Defines Fund Balance and Reserve Categories •Sets Target Funding  •Outlines use of Reserves •Recommends method for achieving Targets Possible Initial Funding* *Subject to Council direction 5/15/2018 Category Current Funding Targets Initial Funding Percent of Target Funded Emergency Reserve Natural Disaster 16,534,000$ 10,000,000$ 7,400,000$ 74.00% Emergency Reserve Economic 11,000,000$ 8,140,000$ 74.00% Cash Flow 4,134,000$ 5,000,000$ 5,000,000$ 100.00% Capital Replacement 10,000,000$ 5,000,000$ 50.00% Pension Trust 10,000,000$ 2,000,000$ 20.00% Total Reserves 20,668,000$ 46,000,000$ 27,540,000$ 59.87% Unassigned Fund Balance 14,865,926$ 8,000,000$ 7,993,926$ 99.92% Land Acquisition Account 2,000,000$ 2,000,000$ 5/16/2018 15 Discussion and Questions 5/16/2018 16 City Council Meeting May 15, 2018 B5 – Approve NAI Agreement Background •NAI has provided City with services since 1997 •Provides specialized expertise  •NAI assist in transition from contract to in‐ house engineering and CIP services 5/16/2018 17 Background •Funds for existing contract ending June 30,  2018 have been expended •Update Council quarterly on transition to in‐ house services Fiscal Impact •New  one‐year Agreement not to exceed  $487,500 and begin May 1, 2018 •Funds are budgeted in CIP project budgets  and Engineering Services Consultants Account 5/16/2018 18 Questions 5/16/2018 19 City Council Meeting May 15, 2018 S1 - Discuss Proposed Limitations for Title 9 and Code Revisions to Title 3 Background •Homeowners permitted as short-term vacation rentals (STVRs) converting non-bedroom areas into bedrooms •Current Code standards do not directly limit conversion of non-bedroom space •Concern that non-bedroom conversion, may increase residential occupancies and land use densities 5/16/2018 20 Proposal Amend Title 9 (Zoning) and Title 3 (Revenue and Finance) Code to: •Limit non-bedroom conversions •Clarify STVR process and compliance 5/16/2018 21 Chapter 9.50.100 Additional Bedrooms •Additions to an existing single-family dwelling •Modifications to floor plan configuration of an existing single-family dwelling Maximum Number of Bedrooms LIVABLE AREA IN SQUARE FEET BEDROOM MAXIMUM NUMBER 2,000 OR LESS 4 2,001‐2,850 5 2,851-3,500 6 GREATER THAN 3,500 8 5/16/2018 22 5/16/2018 23 Maximum Bedroom Coverage •Establish maximum bedroom coverage of 35% within existing single-family dwellings 5/16/2018 24 Additional Parking Requirement •Additional garage space for additions/modifications that equal four or more bedrooms •Additional garage space shall not result in new street curb cuts Guesthomes •Adopt limit of 2 bedrooms consistent with accessory dwelling unit standards •Eliminate deed restriction requirement that prohibits rental of guesthouses 5/16/2018 25 Title 3 Changes Recommended Revisions for 3.25 •Limit STVR permits in a given area •Limit occupancy to two per bedroom •Advertising STVR with more than six bedrooms •STVR inspections will be billed Title 3 Changes Recommended Revisions for 3.25 •Limit parking for STVR onsite and two additional street spaces •Casita/guesthouse may be rented if Resident occupying main dwelling •Increase fines for violations •New STVR applicants shall notify neighbors within 500 feet 5/16/2018 26 Title 3 Changes Recommended Revisions for 3.25 •Recorded owner’s of the STVR must be permit holder •Properties with six or more bedrooms hosting special event must employ security •STVR applications must list hosting platforms •No accessory structures (i.e. tents and RV’s) may be used as a STVR Title 3 Changes Recommended Revisions for 3.25 •Evacuation map shall be posted within STVR property •STVR three strikes violation reviewed case by case •Require recorded owner’s signature on STVR application and forms •STVR applications will not be processed if non- sufficient funds check in pending for payment 5/16/2018 27 Title 3 Changes Recommended Revisions for 3.25 •STVR applications processing received prior to festivals could be delayed Section 3.25.060 – Add language •Establish number of bedrooms that may be advertised Section 3.25.070 G – Add language •“or attempted notifications” 5/16/2018 28 City Council Meeting May 15, 2018 S2 – 18/19 Preliminary Proposed Budget Special Revenue Funds •Legally required separate Funds •New – CASp Fund, AB 1379 •Restricted for –Road repairs –Recycling programs –Art in public places –Housing –Grant programs –Golf course operations –Library and Museum operations 5/16/2018 29 General Fund Supported Funds Fund  Contribution  Total Expenses Lighting and  Landscape  $624,000 $1,582,700 Gas Tax  $255,000 $1,959,900 Revenue derived from: Property tax assessments Gas taxes  Finance Authority Fund •1996 Bond •Paid in full –October 2018 •Budget of $671,600 5/16/2018 30 SilverRock Funds •Operating and Reserve Funds •Contributions for 2018/19 –General Fund $50,000 –SRR Reserve $50,200 •Positive operational budget Quimby Fund Expense Budget SilverRock Event Space $3,500,000 Cove Restroom $357,500 5/16/2018 31 Art in Public Places •Additional revenue – SRR Development Expense Budget Art Purchases $100,000 2018/19 CIP (3 Projects) $200,000 Library and Museum Fund •One Fund for both operations •Property tax revenue •County contracted services •Surplus remains in Fund 5/16/2018 32 Questions? •June 5 –General Fund Update –Housing Funds •June 19 –Budget adoption 5/16/2018 33 City Council Meeting May 15, 2018 PH1 – Extend Non-Bedroom Conversions Moratorium Background •Recent building permit applications to convert non- bedroom areas into bedrooms •Non-bedroom conversions may increase residential occupancies beyond intent •120-day moratorium extension on non-bedroom conversions adopted by Council February 20 5/16/2018 34 Recommended Amendments •Non-bedroom conversion limitations •Amend Short Term Vacation Rental Ordinance Requested Action •Extend urgency ordinance for 120 days •Council to consider Title 9 amendments June 5 5/16/2018 35 City Council Meeting May 15, 2018 PH2 - FY 2018/19 through 2022/23 Capital Improvement Program 5/16/2018 36 Capital Improvement Program (CIP) •5 year plan •Identifies scope, budget, schedule •Streets, transportation, parks, sidewalks, facilities, drainage, landscaping Presented CIP Projects •Financial Advisory Commission  –April 11, 2018 –May 9, 2018 •City Council –April 17, 2018 5/16/2018 37 2018/19 CIP Projects •July 1, 2018 •Incorporated into Operating Budget  2018/19 CIP Budget 5/16/2018 38 Highlights of Years 2 ‐ 5 of CIP •Transportation – Roadway –La Quinta Landscape Renovation Project (Water Efficiency) –Monroe Street Pavement Rehabilitation (Avenue 52 to  Avenue 53; and Near Avenue 61) –Avenue 50 Bridge Spanning the Evacuation Channel Highlights of Years 2 ‐ 5 of CIP •Transportation – Roadway –Dune Palms Road Pavement Rehabilitation (Fred  Waring Drive to Miles Avenue) –Fred Waring Drive Pavement Rehabilitation  (Washington Street to Palm Royale Drive) –Avenue 58 Pavement Rehabilitation (Jefferson Street  to Madison Street) 5/16/2018 39 Highlights of Years 2 ‐ 5 of CIP •Transportation – Intersection Improvements –Dune Palms Road at Corporate Center Drive (New Traffic  Signal) –Washington Street at Miles Avenue (Dual Left Turn Lanes) –Highway 111 at La Quinta Center Drive (Dual Left Turn  Lanes) –Highway 111 at Simon Drive (Dual Left Turn Lanes) Highlights of Years 2‐5 of CIP •Parks and Facilities –La Quinta Park Skate Park Conversion –Corporate Yard Phase II •Drainage Enhancements –Citywide Drainage Enhancements •Development Reimbursements 5/16/2018 40 QUESTIONS?