2020 06 16 FA Special MeetingFINANCING AUTHORITY 1 JUNE 16, 2020
SPECIAL MEETING
NOTICE AND CALL OF SPECIAL MEETING
OF THE LA QUINTA FINANCING AUTHORITY
TO THE MEMBERS OF THE LA QUINTA FINANCING AUTHORITY AND
TO THE AUTHORITY SECRETARY:
NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta
Financing Authority is hereby called to be held on Tuesday, June 16, 2020,
starting at 4:00 p.m.; at La Quinta City Hall located at 78495 Calle
Tampico, La Quinta, CA 92253. Pursuant to Executive Orders N-25-20, N-
29-20, N-33-20, and N-35-20, executed by the Governor of California in
response to the state of emergency relating to novel coronavirus disease
2019 (COVID-19) and enabling teleconferencing accommodations by
suspending or waiving specified provisions in the Ralph M. Brown Act
(Government Code § 54950 et seq.), members of the Financing Authority,
the Executive Director, Authority Counsel, City Staff, and City Consultants
may participate in this special meeting by teleconference. The special
meeting is called for the following purpose.
CONSENT CALENDAR
1. APPROVE SPECIAL MEETING MINUTES OF JUNE 18, 2019
BUSINESS SESSION
1. ADOPT RESOLUTION TO APPROVE FISCAL YEAR 2020/21 LA
QUINTA FINANCING AUTHORITY BUDGET
[RESOLUTION NO. FA 2020-001]
Dated: June 12, 2020 /s/Linda Evans
Linda Evans, Chairperson
Attest:
MONIKA RADEVA
Financing Authority Secretary
FINANCING AUTHORITY 2 JUNE 16, 2020
SPECIAL MEETING
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary, do hereby declare that the foregoing
notice for the Special La Quinta Financing Authority meeting of June 16,
2020, was posted on the outside entry to the Council Chamber at 78495
Calle Tampico and on the bulletin boards at 51321 Avenida Bermudas and
78630 Highway 111 on June 12, 2020.
DATED: June 12, 2020
Monika Radeva, Authority Secretary
La Quinta Financing Authority
FINANCING AUTHORITY AGENDA 1 JUNE 16, 2020
SPECIAL MEETING
FINANCING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBER
78495 Calle Tampico La Quinta
SPECIAL MEETING
TUESDAY, JUNE 16, 2020 at 4:00 P.M.
******************************
SPECIAL NOTICE
Teleconferencing and Telephonic Accessibility In Effect
Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20,
executed by the Governor of California in response to the state of emergency
relating to novel coronavirus disease 2019 (COVID-19) and enabling
teleconferencing accommodations by suspending or waiving specified
provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.),
members of the Financing Authority, the Executive Director, Authority
Counsel, City Staff, and City Consultants may participate in this meeting by
teleconference. Additionally, pursuant to the above-referenced executive
orders, the public is not permitted to physically attend at City Hall the meeting
to which this agenda applies, but any member of the public may listen or
participate in the open session of this meeting as specified below.
Members of the public wanting to listen to the open session of this meeting
may do so by tuning-in live via http://laquinta.12milesout.com/video/live.
Members of the public wanting to address the Financing Authority either
for public comment or for a specific agenda item, or both, are requested to
send an email notification to the La Quinta City Clerk’s Office at
CityClerkMail@LaQuintaCA.gov, and specify the following information:
Financing Authority agendas and staff
reports are available on the City’s
web site: www.laquintaca.gov
FINANCING AUTHORITY AGENDA 2 JUNE 16, 2020
SPECIAL MEETING
1) Full Name 4) Public Comment or Agenda Item Number
2) City of Residence 5) Subject
3) Phone Number 6) Written or Verbal Comments
The email “subject line” must clearly state “Written Comments” or
“Verbal Comments.”
Verbal public comments – requests to speak must be emailed to the
Authority Secretary no later than 3:00 p.m. on the day of the meeting;
the City will facilitate the ability for a member of the public to be audible to the
Financing Authority and general public for the item(s) by contacting him/her
via phone and queuing him/her to speak during the discussion.
Only one person at a time may speak by telephone and only after being
recognized by the Chairperson.
Written public comments, received prior to the adjournment of the meeting,
will be distributed to the Financing Authority, incorporated into the agenda
packet and public record of the meeting, and will not be read during the meeting
unless, upon the request of the Chairperson, a brief summary of any public
comment is asked to be read, to the extent the City Clerk’s Office can
accommodate such request.
It would be appreciated that any email communications for public comments
related to the items on the agenda, or for general public comment, are provided
to the City Clerk’s Office at the email address listed above prior to the
commencement of the meeting. If that is not possible, and to accommodate
public comments on items that may be added to the agenda after its initial
posting or items that are on the agenda, every effort will be made to attempt
to review emails received by the City Clerk’s Office during the course of the
meeting. The Chairperson will endeavor to take a brief pause before action is
taken on any agenda item to allow the Authority Secretary to review emails and
share any public comments received during the meeting. All emails received by
the Authority Secretary, at the email address above, until the adjournment of
the meeting, will be included within the public record relating to the meeting.
******************************
CALL TO ORDER
ROLL CALL: Authority Members: Fitzpatrick, Peña, Radi, Sanchez,
Chairperson Evans
FINANCING AUTHORITY AGENDA 3 JUNE 16, 2020
SPECIAL MEETING
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Financing Authority on any
matter not listed on the agenda. Please email written public comments or a
request to provide verbal public comments to CityClerkMail@LaQuintaCA.gov
and limit your comments to three minutes (approximately 350 words). The Financing
Authority values your comments; however, in accordance with State law, no action
shall be taken on any item not appearing on the agenda unless it is an emergency
item authorized by the Brown Act [Government Code § 54954.2(b)].
CONFIRMATION OF AGENDA
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one
motion.
PAGE
1. APPROVE SPECIAL MEETING MINUTES OF JUNE 18, 2019 5
BUSINESS SESSION
PAGE
1. ADOPT RESOLUTION TO APPROVE FISCAL YEAR 2020/21 LA
QUINTA FINANCING AUTHORITY BUDGET
[RESOLUTION NO. FA 2020-001]
7
CHAIR AND BOARD MEMBERS' ITEMS
REPORTS AND INFORMATIONAL ITEMS – NONE
ADJOURNMENT
***************************************
For information about the next special meeting of the Financing Authority,
please contact the City Clerk’s Office at (760) 777-7000.
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary of the La Quinta Financing Authority,
do hereby declare that the foregoing agenda for the La Quinta Financing
Authority was posted near the entrance to the Council Chambers at 78495
Calle Tampico and on the bulletin boards at 51321 Avenida Bermudas and
78630 Highway 111, on June 12, 2020.
DATED: June 12, 2020
MONIKA RADEVA, Authority Secretary
La Quinta Financing Authority
FINANCING AUTHORITY AGENDA 4 JUNE 16, 2020
SPECIAL MEETING
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) 777-7092, 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 Financing
Authority, arrangement should be made in advance by contacting the City Clerk's
Office at (760) 777-7092. A one (1) week notice is required.
If background material is to be presented to the Financing Authority during a
meeting, please be advised that eight (8) copies of all documents, exhibits, etc.,
must be supplied to the Authority Secretary 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 Financing Authority
regarding any item on this agenda will be made available for public inspection at
the Authority Secretary counter at City Hall located at 78495 Calle Tampico, La
Quinta, California, 92253, during normal business hours.
FINANCING AUTHORITY MINUTES Page 1 of 2 JUNE 18, 2019
SPECIAL MEETING
FINANCING AUTHORITY
SPECIAL MEETING
MINUTES
TUESDAY, JUNE 18, 2019
CALL TO ORDER
A special meeting of the La Quinta Financing Authority was called to order at
9:38 p.m. by Chairperson Evans.
PRESENT: Authority Members Fitzpatrick, Peña, Radi, Sanchez, Chairperson Evans
ABSENT: None
CLOSED SESSION – None
PUBLIC COMMENT – None
CONFIRMATION OF AGENDA – Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
– None
CONSENT CALENDAR
1. APPROVE SPECIAL MEETING MINUTES DATED JUNE 19, 2018
MOTION – A motion was made and seconded by Authority Members
Radi/Fitzpatrick to approve the Consent Calendar as recommended. Motion
passed unanimously.
BUSINESS SESSION
1. ADOPT A RESOLUTION TO APPROVE FISCAL YEAR 2019/20
BUDGET [RESOLUTION NO. FA 2019-001]
Finance Authority waived presentation of the staff report, which is on file in
the Clerk’s Office.
MOTION – A motion was made and seconded by Authority Members
Fitzpatrick/Radi to adopt Resolution No. FA 2019-001 approving the La Quinta
Financing Authority Fiscal Year 2019/20 Budget, as recommended:
CONSENT CALENDAR ITEM NO. 1
5
FINANCING AUTHORITY MINUTES Page 2 of 2 JUNE 18, 2019
SPECIAL MEETING
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY APPROVING
A BUDGET FOR FISCAL YEAR 2019/20
Motion passed unanimously.
CHAIR AND AUTHORITY MEMBERS' ITEMS – None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority
Members Fitzpatrick/Radi to adjourn at 9:39 p.m. Motion passed
unanimously.
Respectfully submitted,
MONIKA RADEVA, Authority Secretary
La Quinta Financing Authority
6
City of La Quinta
FINANCING AUTHORITY MEETING: June 16, 2020
STAFF REPORT
AGENDA TITLE: ADOPT RESOLUTION TO APPROVE FISCAL YEAR
2020/21 LA QUINTA FINANCING AUTHORITY BUDGET
RECOMMENDATION
Adopt a Resolution of the La Quinta Financing Authority approving the
2020/21 La Quinta Financing Authority Budget.
EXECUTIVE SUMMARY
•Annually, the budget is prepared and submitted for the Financing
Authority’s review and approval.
•Projected revenues of $1,100 will fund expenditures of $1,100 for the
required annual filing of a State Controller’s Report.
FISCAL IMPACT
Budgeted 2020/21 revenues are projected to be $1,100 and expenditures
are also projected to be $1,100.
BACKGROUND/ANALYSIS
At the Council Meeting of May 5, and June 2, 2020, the annual budget was
presented for review. There have been no changes to the proposed budget
since these presentations. The Financing Authority’s revenues are derived
from the City of La Quinta’s General Fund. With the 1996 Civic Center Bond
fully repaid, expenditures are limited to the required annual filing of a State
Controller’s Report. Revenue and expense are details in Attachment 1.
ALTERNATIVES
The Authority may further adjust the various appropriations.
Prepared by: Karla Romero, Finance Director
Approved by: Jon McMillen, City Manager
Attachment: 1. Fiscal Year 2020/21 Financing Authority Budget
BUSINESS SESSION ITEM NO. 1
7
8
RESOLUTION NO. FA 2020 -
A RESOLUTION OF THE FINANCING AUTHORITY
OF THE CITY OF LA QUINTA, CALIFORNIA,
APPROVING FISCAL YEAR 2020/21 BUDGET
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 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 2020/21 Budget which is on file with the La
Quinta Financing Authority Secretary is hereby approved.
SECTION 2. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cash or unappropriated fund
balance from one fund to another shall be made only upon Financing
Authority approval.
B. Transfers of budgeted appropriations between divisions or capital
projects shall be made only upon Financing Authority approval.
C. Transfers of budgeted appropriations between accounts within a division
or capital project may be made with the approval of the Executive
Director or his designee.
D. Prior year budget continuing Appropriations and Encumbrances for
unexpended capital project appropriations remaining from uncompleted
prior year capital projects shall be made with Executive Director approval.
These carry-over appropriations are for prior year Financing Authority
approved capital projects and shall not exceed the approved project
budget.
9
Resolution No. FA 2020 - XXX
Financing Authority Fiscal Year 2020/21 Budget Approval
Adopted: June 16, 2020
Page 2 of 2
SECTION 3. The Executive Director shall render a monthly report 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 2020, by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_______________________
LINDA EVANS, Chairperson
La Quinta Financing Authority,
California
ATTEST:
_____________________________
MONIKA RADEVA, Secretary
La Quinta Financing Authority,
California
(SEAL)
APPROVED AS TO FORM:
______________________________
WILLIAM H. IHRKE, Authority Counsel
La Quinta Financing Authority,
California
10
2020 212020CITY OF
LA QUINTA
FINANCING AUTHORITY
ADOPTED BUDGET
ATTACHMENT 1
11
This page intentionally left blank.
12
2019/20
Current Budget
2020/21
Proposed 1
2020/21
Proposed 2
2020/21
Adopted
310 - LQ FINANCE AUTHORITY DEBT SERVICE
0000 - Undesignated
1,000 1,100 1,100 1,100310-0000-42111 Rental Income
0000 - Undesignated Totals:1,000 1,100 1,100 1,100
310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
CITY OF LA QUINTA FINANCE AUTHORITY REVENUES FY 2020/21 ADOPTED BUDGET
13
2019/20
Current Budget
2020/21
Proposed 1
2020/21
Proposed 2
2020/21
Adopted
310 - LQ FINANCE AUTHORITY DEBT SERVICE
0000 - Undesignated
60 - Contract Services
1,000 1,100 1,100 1,100310-0000-60181 Contract Services Fees
60 - Contract Services Totals:1,000 1,100 1,100 1,100
0000 - Undesignated Totals:1,000 1,100 1,100 1,100
310 - LQ FINANCE AUTHORITY DEBT SERVICE Totals:1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
1,000 1,100 1,100 1,100
CITY OF LA QUINTA FINANCE AUTHORITY EXPENSES FY 2020/21 ADOPTED BUDGET
310 Fund - The 1996 Civic Center Bond was paid off in October 2018. The General Fund no longer has the obligation
to transfer funds to the Finance Authority for this debt service payment, however, annual State Controller reporting
and auditing is required.
14