FA Resolution 2020-001 Budget Approval FY 2020-21RESOLUTION NO. FA 2020 – 001
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.