FA Resolution 2015-001RESOLUTION NO. FA 2015 - 001
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 2015/2016
WHEREAS, each year the La Quinta Financing Authority adopts a Budget for
Revenues and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the Financing Authority desires to make provisions for a level of
services commensurate with the needs of the City; and
WHEREAS, the Financing Authority has reviewed said budget and has had several
public meetings to receive public input; and
WHEREAS, the Financing Authority has, after due deliberation and consideration,
made such amendments in the proposed budget as it considers desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Financing Authority to adopt,
as follows:
SECTION 1. The Fiscal Year 2015/2016 Budget which is on file with the La Quinta
Financing Authority Secretary is hereby approved.
SECTION 2. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cash or unappropriated fund
balance from one fund to another shall be made only upon Financing
Authority approval.
B. Transfers of budgeted appropriations between divisions or capital projects
shall be made only upon Financing Authority approval.
C. Transfers of budgeted appropriations between accounts withihla divigiori or
capital project may be made with the approval of the Executivotireetor or;
his designee.
t_
D. Prior year budget continuing Appropriations and Encu'mbrance*s, for
unexpended capital project appropriations remaining from. uncompleted
prior year capital projects shall be made with Executive Director approval.
These carry-over appropriations are for prior year Financing Authority
approved capital projects and shall not exceed the approved project
budget.
Resolution No. FA 2015-001
Budget Approval FY 2015/2016
Adopted: June 16, 2015
Page 2
SECTION 3. The Executive Director shall render a monthly report to the Financing
Authority on the status of City operations as it relates to the approved budget and any
amendments thereto.
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta Financing
Authority held on this 16th day of June, 2015, by the following vote:
AYES: Authority Members Franklin, Osborne, Pena, Radi, Chair Evans
NOES: None
ABSENT: None
ABSTAIN: None
T-' &alzl�
LINDA EVANS, Chairperson
La Quinta Financing Authority
ATTEST:
SUSAN MAYSELS, Secrek6ry
La Quinta Financing Authority
(AUTHORITY SEAL)
APPROVED AS TO FORM:
WILLIAM IHRKE, Authority Counsel
La Quinta Financing Authority