2020 12 15 HA Special MeetingHOUSING AUTHORITY 1 DECEMBER 15, 2020
SPECIAL MEETING
NOTICE AND CALL OF SPECIAL MEETING
OF THE LA QUINTA HOUSING AUTHORITY
TO THE MEMBERS OF THE LA QUINTA HOUSING AUTHORITY AND TO
THE AUTHORITY SECRETARY:
NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta
Housing Authority is hereby called to be held on Tuesday, December 15,
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, N-35-20, and N-60-20, executed by the Governor of
California, and the directives under the “Regional Stay At Home Order” from
the California Department of Public Health, 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 Housing Authority, the Executive Director,
Authority Counsel, City Staff, and City Consultants may participate in this
special meeting by teleconference. Additionally, pursuant to the above-
referenced orders, members of the public are instructed to stay at home and
to limit mixing with other persons or households as much as possible.
Therefore, members of the public temporarily are 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 this special meeting as
specified below.
Members of the public wanting to listen to this special meeting may do so
by tuning-in live via http://laquinta.12milesout.com/video/live.
Members of the public wanting to address the Housing 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:
1) Full Name 4) Public Comment or Agenda Item Number
2) City of Residence 5) Subject
3) Phone Number 6) Written or Telephonic Verbal Comments
The email “subject line” must clearly state “Written Comments” or
“Telephonic Verbal Comments.”
HOUSING AUTHORITY 2 DECEMBER 15, 2020
SPECIAL MEETING
The special meeting is called for the following purpose:
CONSENT CALENDAR
1. APPROVE SPECIAL MEETING MINUTES OF JUNE 16, 2020
BUSINESS SESSION
1. RECEIVE AND FILE FISCAL YEAR 2019/20 HOUSING
AUTHORITY YEAR-END BUDGET REPORT AND APPROVE
AMENDED BUDGET CARRYOVERS
2. RECEIVE AND FILE FISCAL YEAR 2020/21 FIRST QUARTER
HOUSING AUTHORITY BUDGET REPORT AND APPROVE THE
RECOMMENDED BUDGET ADJUSTMENTS
Dated: December 11, 2020 Robert Radi
ROBERT RADI, Chairperson
Attest:
MONIKA RADEVA
Housing Authority Secretary
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary, do hereby declare that the foregoing
notice for the La Quinta Housing Authority Special Meeting of December
15, 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 December 11, 2020.
DATED: December 11, 2020
Monika Radeva, Authority Secretary
La Quinta Housing Authority
HOUSING AUTHORITY AGENDA 1 DECEMBER 15, 2020
SPECIAL MEETING
HOUSING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBER
78495 Calle Tampico La Quinta
SPECIAL MEETING
TUESDAY, DECEMBER 15, 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, N-35-20, and N-60-
20, executed by the Governor of California, and the directives under the
“Regional Stay At Home Order” from the California Department of Public Health,
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 Housing Authority, the
Executive Director, Authority Counsel, City Staff, and City Consultants may
participate in this special meeting by teleconference. Additionally, pursuant to
the above-referenced orders, members of the public are instructed to stay at
home and to limit mixing with other persons or households as much as
possible. Therefore, members of the public temporarily are 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 this meeting as specified
below.
Members of the public wanting to listen to this special meeting may do so
by tuning-in live via http://laquinta.12milesout.com/video/live.
Members of the public wanting to address the Housing Authority, either for
public comment or for a specific agenda item, or both, may do so via
Housing Authority agendas and staff
reports are available on the City’s
web site: www.laquintaca.gov
HOUSING AUTHORITY AGENDA 2 DECEMBER 15, 2020
SPECIAL MEETING
teleconference by sending an email notification to the La Quinta City Clerk’s
Office at CityClerkMail@LaQuintaCA.gov, and specify the following information:
1) Full Name 4) Public Comment or Agenda Item Number
2) City of Residence 5) Subject
3) Phone Number 6) Written or Telephonic Verbal Comments
The email “subject line” must clearly state “Written Comments” or
“Telephonic Verbal Comments.”
Telephonic verbal public comments – requests to speak must be
emailed to the City Clerk 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 Housing Authority, and general public for the item(s) by
contacting him/her via phone and queuing him/her to speak.
Only one person at a time may speak by telephone and only after being
recognized by the Chairperson.
Written public comments must be received by the City Clerk’s Office no
later than 3:00 p.m. on the day of the meeting, and will be distributed to
the Housing 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 City Clerk to review emails and share
any public comments received during the meeting. All emails received by the
City Clerk, 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: Evans, Fitzpatrick, Peña, Sanchez,
Chairperson Radi
HOUSING AUTHORITY AGENDA 3 DECEMBER 15, 2020
SPECIAL MEETING
VERBAL ANNOUNCEMENT – AB 23 [AUTHORITY SECRETARY]
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Housing Authority on any
matter not listed on the agenda by emailing written public comments or
requests to provide verbal public comments via teleconference as
indicated above. Please limit your comments to three (3) minutes (or
approximately 350 words). The Housing 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 GC
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 16, 2020 5
BUSINESS SESSION
PAGE
1. RECEIVE AND FILE FISCAL YEAR 2019/20 HOUSING AUTHORITY
YEAR-END BUDGET REPORT AND APPROVE AMENDED BUDGET
CARRYOVERS
7
2. RECEIVE AND FILE FISCAL YEAR 2020/21 FIRST QUARTER
HOUSING AUTHORITY BUDGET REPORT AND APPROVE THE
RECOMMENDED BUDGET ADJUSTMENTS
21
CHAIR AND BOARD MEMBERS' ITEMS
ADJOURNMENT
***************************************
The next regular quarterly meeting of the Housing Authority will be held on
January 19, 2021 at 4:00 p.m. in the City Council Chambers, 78495 Calle
Tampico, La Quinta, CA 92253.
HOUSING AUTHORITY AGENDA 4 DECEMBER 15, 2020
SPECIAL MEETING
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary of the La Quinta Housing Authority, do
hereby declare that the foregoing agenda for the La Quinta Housing 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 December 11, 2020.
DATED: December 11, 2020
MONIKA RADEVA, Authority Secretary
La Quinta Housing Authority
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 Housing
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 Housing Authority during a
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 Housing Authority
regarding any item on this agenda will be made available for public inspection at
the City Clerk counter at City Hall located at 78495 Calle Tampico, La Quinta,
California, 92253, during normal business hours.
HOUSING AUTHORITY MINUTES Page 1 of 2 JUNE 16, 2020
SPECIAL MEETING
HOUSING AUTHORITY
SPECIAL MEETING
MINUTES
TUESDAY, JUNE 16, 2020
CALL TO ORDER
A special meeting of the La Quinta Housing Authority was called to order at 7:14
p.m. by Chairperson Radi.
This meeting was held by teleconference 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 of the Ralph M. Brown Act (Government Code §
54950 et seq.).
PRESENT: Authority Members: Evans, Fitzpatrick, Peña, Sanchez, and
Chairperson Radi
ABSENT: None
STAFF PRESENT: Executive Director McMillen, Authority Counsel Ihrke, Authority
Secretary Radeva, Deputy City Clerk Romane, and Finance Director Romero.
VERBAL ANNOUNCEMENT – AB 23 was made by the Authority Secretary
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None
CONFIRMATION OF AGENDA – Confirmed
CONSENT CALENDAR
1. APPROVE SPECIAL MEETING MINUTES OF JUNE 2, 2020
MOTION – A motion was made and seconded by Authority Members
Fitzpatrick/Evans to approve the Consent Calendar. Motion passed unanimously.
BUSINESS SESSION
1. ADOPT RESOLUTION TO APPROVE FISCAL YEAR 2020/21 LA
QUINTA HOUSING AUTHORITY BUDGET
[RESOLUTION NO. HA 2020-001]
CONSENT CALENDAR ITEM NO. 1
5
HOUSING AUTHORITY MINUTES Page 2 of 2 JUNE 16, 2020
SPECIAL MEETING
Finance Director Romero presented the staff report, which is on file in the Clerk’s
office.
MOTION – A motion was made and seconded by Authority Members
Evans/Fitzpatrick to adopt Resolution No. HA 2020-001 to approve the La Quinta
Housing Authority Fiscal Year 2020/21 Budget, as recommended:
A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF LA QUINTA,
CALIFORNIA, APPROVING FISCAL YEAR 2020/21 BUDGET
Motion passed unanimously.
CHAIR AND BOARD MEMBERS' ITEMS
Authority Member Evans said Riverside County was allocating some of the
COVID-19 assistance funding it received to United Lift, a coordinated effort
between Riverside County, United Way of the Inland Valleys, and Lift To Rise, to
provide financial assistance to needy renters amid coronavirus and attempting
to keep 10,000 families and residents housed.
REPORTS AND INFORMATION ITEMS – None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority
Members Evans/Peña to adjourn at 7:18 p.m. Motion passed unanimously.
Respectfully submitted,
MONIKA RADEVA, Authority Secretary
La Quinta Housing Authority
6
City of La Quinta
HOUSING AUTHORITY MEETING: December 15, 2020
STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE FISCAL YEAR 2019/20 HOUSING
AUTHORITY YEAR-END BUDGET REPORT AND APPROVE AMENDED BUDGET
CARRYOVERS
RECOMMENDATION
Receive and file 2019/20 Housing Authority Year-End Budget Report and
approve amended budget carryovers.
EXECUTIVE SUMMARY
•After closing the prior fiscal year, Finance presents a year-end summary
that compares the final budget to actual transactions.
•Overall revenue was $476,575 lower than budgeted.
•Overall expenditures were $437,995 under budget and $320,762 would
be carried over to fiscal year (FY) 2020/21.
•The Report will be received and filed by the Housing Commission on
January 6, 2021.
FISCAL IMPACT
Amended budget carryovers from 2019/20 to 2020/21 total $320,762 and are
funded with budgetary savings from 2019/20.
BACKGROUND/ANALYSIS
Total adjusted revenues were under budget by $476,575; mostly due to
lagging proceeds from the sale of other assets, which will be recognized in FY
2020/21.
Total expenditures were under budget by $437,995 with $320,762 to be
carried over to FY 2020/21 for the housing element update and drainage
improvements.
Revenues, expenditures, carryovers, and fund balances are discussed in the
Fiscal Year-End 2019/20 Housing Authority Budget Report (Attachment 1).
This Report will be presented to the Housing Commission on January 6, 2021.
BUSINESS SESSION ITEM NO. 1
7
ALTERNTIVES
No alternatives are applicable.
Prepared by: Karla Romero, Finance Director
Approved by: Jon McMillen, Executive Director
Attachment: 1. Fiscal Year-End 2019/20 Housing Authority Budget Report
8
HOUSING AUTHORITY
FISCAL YEAR-END 2019/20 BUDGET REPORT
The La Quinta Housing Authority oversee four funds, which are restricted for
affordable housing programs. This report focuses on significant activities and
variances from the final budget during the fiscal year (FY) ended June 30,
2020.
REVENUES
Total revenues after non-cash adjustments, were under budget by $476,575.
Revenues are summarized by fund below and detailed in Exhibit A.
Larger revenue variances from the final budget are described below:
•Use of Money and Property includes the annual fair market value
adjustment to the Authority’s investments; noted as “GASB 31 Interest”
on the revenue line items. In FY 2019/20 the portfolio holdings were
valued greater than book value due to market conditions, therefore a
positive adjustment in three of the funds totaling $376,358 was
recorded. This amount has been reduced as an adjustment to revenues,
as it is not cash received nor anticipated to be received in the future.
The Authority’s investments have a five-year horizon with laddered
maturities. The Authority has worked diligently to leverage highly
restricted investments under volatile market conditions. At June 30,
2019, the portfolio was earning a 2.04% rate of return and on June 30,
2020 the return was 1.82%. Today the average investment purchases
Housing Authority Revenues Final Budget Actual Variance
Housing Authority Fund 1,688,256 1,474,316 (213,940)
RDA Low-Mod Housing Fund 40,000 269,013 229,013
2004 Bond Fund - 4,326 4,326
2011 Bond Fund 350,000 403,942 53,942
Total Revenues 2,078,256 2,151,597 73,341
Non-Cash Adjustments
Investments Fair Market Value Adjustment (376,358) (376,358)
RDA Loan Interest Earned, Extraordinary Gain (173,558) (173,558)
Total Adjusted Revenues 1,601,681 (476,575)
ATTACHMENT 1
9
are yielding about a 0.50% return, which will reduce interest earnings
going forward.
•Miscellaneous Revenue includes interest earned on two outstanding
receivable notes; Coral Mountain Partners and LINC Housing earned
$121,857 and $8,805 respectively in FY 2019/20.
•In FY 2019/20, the Authority approved the sale of portions of real
property at 46150-46176 Dune Palms Road to the City of La Quinta for
a future park and drainage improvements. Due to COVID impacts, the
transaction was delayed and revenues in the amount of $1,061,456
were transferred to the Authority in FY 2020/21.
•A Transfer In for $386,692 was recorded to close out the 2004 Bond
Fund, which was used for the Washington Street Apartments (WSA)
improvement and expansion project.
•Extraordinary Gain revenue
of $173,558 in the RDA
Low-Mod Housing Fund
records the annual former
Redevelopment Agency loan
repayment interest earned
in FY 2019/20. The loan
repayments are structured
to pay all principal first, then
interest. Each year the City
records the payment
received and interest
earned in accordance with
the State Department of
Finance approved loan
repayment schedule. This
amount is also reduced from
revenues as an adjustment
because it is earned, but not
received until a future date.
10
EXPENSES
Housing Authority expenses by fund are summarized below and detailed in
Exhibit B.
Carryovers from FY 2019/20 to FY 2020/21, detailed in Exhibit C, increased
by $42,700 from the original anticipated amount of $278,062 to $320,762.
HOUSING AUTHORITY FUND (241)
This fund recognizes administrative expenses and housing activities for
several Authority owned properties in the La Quinta Cove. Overall expenses
were $4,996 greater than the previous year.
Combined savings of $97,844 were recognized for salaries and benefits,
professional program oversight, legal services, and rental expenses. Of this
amount $42,700 is being carried over to FY 2020/21 to ensure proper funding
for the ongoing State mandated housing element update. This fund also had
savings of $278,062 from Transfers Out to the Capital Improvement Fund,
which are also being carried over for drainage improvements which will benefit
the housing parcel located adjacent to the future skate park on Dune Palms
and Westward Ho.
Housing Authority Expenditures Final Budget Actual Variance
Housing Authority Fund
Administration 673,957 316,833 (357,124)
La Quinta Cove Properties 317,000 298,218 (18,782)
RDA Low-Mod Housing Fund 351,000 350,779 (221)
2004 Bond Fund 390,500 388,632 (1,868)
2011 Bond Fund 60,000 - (60,000)
Total Expenditures 1,792,457 1,354,462 (437,995)
Capital Project Carryovers 278,062
Operational/Contractual Carryovers 42,700
Total Carryovers 320,762
Total Expenditures After Carryovers 1,792,457 1,675,224 (117,233)
11
Funds not being carried over are recognized as Restricted Fund balance in the
Housing Fund. As of June 30, 2020, the available balance in this fund was
$11,338,100.
LOW-MOD HOUSING FUND (243)
Revenue in this fund is solely derived from Redevelopment Agency loan
repayments and interest earnings. Annually loan repayments are allocated
80% to the General Fund and 20% to the Low-Mod Housing Fund. The total
outstanding loan balance as of June 30, 2020 is $32,587,178; with
$6,517,436 or 20% recognized in this fund as a future receivable.
In FY 2019/20, a total of $350,779 was expensed for homelessness programs
in the greater Coachella Valley. This amount included $101,001 carried over
from 2018/19 to 2019/20. As of June 30, 2020, the available balance in this
fund was $2,580,132.
2004 BOND FUND (248) & 2011 BOND FUND (249)
WSA’s rehabilitation and relocation plan expenses were incorporated in the
2004 and 2011 Bond Fund budgets, these bonds were refinanced in 2014 and
2016 respectively. The final relocation expenses were paid in FY 2019/20 from
the 2004 Bond. To close out the project and fund, $386,692 was transferred
from the 2004 Bond Fund to the Housing Authority Fund, which is also
restricted for housing programs. The 2011 Bond Fund had an ending balance
of $17,159,715 as of June 30, 2020.
FUND BALANCES
Below is a summary of Housing Authority fund balances as of June 30, 2020.
These funds are restricted for housing programs.
Housing Authority Fund (241)11,338,100
Low-Mod Housing Fund (243)2,580,132
2011 Bond Fund (249)17,159,715
TOTAL HOUSING FUNDS 31,077,947
Housing Fund Fund Balance
as of 6/30/20
12
2018/19
Actuals
2019/20
Original Budget
2019/20
Final Budget
2019/20
Actuals
241 - HOUSING AUTHORITY
339,095 110,000 230,000 190,627241-9101-41900 Allocated Interest
0 0 0 239,559241-9101-41910 GASB 31 Interest
771 0 0 131,261241-9101-41915 Non-Allocated Interest
1001241-9101-42301 Miscellaneous Revenue
0 0 0 107,695241-9101-42706 Loan Repayments
58,814 0 58,800 58,789241-9101-43500 Home Sale Proceeds
187,892 50,000 50,000 60,000241-9101-43504 2nd Trust Deed Repayments
0 0 1,061,456 0241-9101-45000 Sale of Other Assets
0 0 0 386,692241-9101-49500 Transfers In
286,872 288,000 288,000 299,692241-9103-43502 Rent Revenue/LQRP
Total:873,444 448,000 1,688,256 1,474,316
243 - RDA LOW-MOD HOUSING FUND
55,555 22,000 40,000 40,939243-0000-41900 Allocated Interest
0 0 0 54,515243-0000-41910 GASB 31 Interest
0 0 0 173,558243-0000-48500 Extraordinary Gain
Total:55,555 22,000 40,000 269,013
248 - SA 2004 LO/MOD BOND FUND (Refinanced i
17,587 0 0 4,326248-0000-41900 Allocated Interest
Total:17,587 0 0 4,326
249 - SA 2011 LOW/MOD BOND FUND (Refinanced
3,289 0 0 8,054249-0000-41900 Allocated Interest
0 0 0 82,284249-0000-41910 GASB 31 Interest
487,581 270,000 350,000 313,604249-0000-41915 Non-Allocated Interest
Total:490,870 270,000 350,000 403,942
HOUSING AUTHORITY REVENUE 1,437,457 740,000 2,078,256 2,151,596
339,095 110,000 230,000 190,627
0 0 0 239,559
771 0 0 131,261
1001
0 0 0 107,695
58,814 0 58,800 58,789
187,892 50,000 50,000 60,000
0 0 1,061,456 0
0 0 0 386,692
286,872 288,000 288,000 299,692
873,444 448,000 1,688,256 1,474,316
55,555 22,000 40,000 40,939
0 0 0 54,515
0 0 0 173,558
55,555 22,000 40,000 269,013
17,587 0 0 4,326
17,587 0 0 4,326
3,289 0 0 8,054
0 0 0 82,284
487,581 270,000 350,000 313,604
490,870 270,000 350,000 403,942
1,437,457 740,000 2,078,256 2,151,596
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS REVENUE DETAILS
EXHIBIT A
2019/20 YEAR-END BUDGET REPORT
Unaudited, final numbers will be reported in the 2019/20 Financial Statements issued in December 2020.
Minus Non-Cash Transactions (549,916)
Adjusted Revenues 1,601,681
13
14
2018/19
Actuals
2019/20
Original Budget
2019/20
Final Budget
2019/20
Actuals
241 - HOUSING AUTHORITY
9101 - Housing Authority - Admin
Salaries and Benefits
130,085 142,000 143,595 136,322241-9101-50101 Permanent Full Time
000578241-9101-50105 Salaries - Overtime
750 3,000 3,000 900241-9101-50110 Commissions & Boards
196 200 200 193241-9101-50150 Other Compensation
10,878 10,600 10,600 11,131241-9101-50200 PERS-City Portion
2,262 0 0 261241-9101-50215 Other Fringe Benefits
22,129 31,800 31,800 24,158241-9101-50221 Medical Insurance
337 0 0 330241-9101-50222 Vision Insurance
1,482 0 0 1,259241-9101-50223 Dental Insurance
58 0 0 67241-9101-50224 Life Insurance
587 900 900 578241-9101-50225 Long Term Disability
2,600 3,400 3,400 3,400241-9101-50230 Workers Comp Insurance
1,936 2,100 2,100 2,002241-9101-50240 Social Security-Medicare
92 0 0 105241-9101-50241 Social Security-FICA
50 - Salaries and Benefits Totals:173,391 194,000 195,595 181,285
Contract Services
59,667 81,000 121,000 78,218241-9101-60103 Professional Services
5,000 5,000 5,000 5,000241-9101-60106 Auditors
13,453 25,000 25,000 3,849241-9101-60153 Attorney
60 - Contract Services Totals:78,120 111,000 151,000 87,067
Maintenance & Operations
1,611 3,000 3,000 1,211241-9101-60320 Travel & Training
153 0 0 0241-9101-60400 Office Supplies
1,377 1,500 1,500 2,470241-9101-60420 Operating Supplies
62 - Maintenance & Operations Totals:3,141 4,500 4,500 3,681
Insurance
10,000 6,000 6,000 6,000241-9101-91843 Property & Crime Insurance
63 - Insurance Totals:10,000 6,000 6,000 6,000
Internal Service Charges
20,000 14,000 14,000 14,000241-9101-91844 Earthquake Insurance
18,100 24,800 24,800 24,800241-9101-98110 Information Tech Charges
69 - Internal Service Charges Totals:38,100 38,800 38,800 38,800
Transfers Out
0 0 278,062 0241-9101-99900 Transfers Out
99 - Transfers Out Totals:0 0 278,062 0
9101 - Housing Authority - Admin Totals:302,753 354,300 673,957 316,833
9103 - Housing Authority - LQRP
Maintenance & Operations
307,302 255,000 317,000 298,218241-9103-60157 Rental Expenses
62 - Maintenance & Operations Totals:307,302 255,000 317,000 298,218
9103 - Housing Authority - LQRP Totals:307,302 255,000 317,000 298,218
241 - HOUSING AUTHORITY Totals:610,055 609,300 990,957 615,051
130,085 142,000 143,595 136,322
000578
750 3,000 3,000 900
196 200 200 193
10,878 10,600 10,600 11,131
2,262 0 0 261
22,129 31,800 31,800 24,158
337 0 0 330
1,482 0 0 1,259
58 0 0 67
587 900 900 578
2,600 3,400 3,400 3,400
1,936 2,100 2,100 2,002
92 0 0 105
173,391 194,000 195,595 181,285
59,667 81,000 121,000 78,218
5,000 5,000 5,000 5,000
13,453 25,000 25,000 3,849
78,120 111,000 151,000 87,067
1,611 3,000 3,000 1,211
153 0 0 0
1,377 1,500 1,500 2,470
3,141 4,500 4,500 3,681
10,000 6,000 6,000 6,000
10,000 6,000 6,000 6,000
20,000 14,000 14,000 14,000
18,100 24,800 24,800 24,800
38,100 38,800 38,800 38,800
0 0 278,062 0
0 0 278,062 0
302,753 354,300 673,957 316,833
307,302 255,000 317,000 298,218
307,302 255,000 317,000 298,218
307,302 255,000 317,000 298,218
610,055 609,300 990,957 615,051
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS EXPENSE DETAILS BY FUND
EXHIBIT B
2019/20 YEAR-END BUDGET REPORT
Unaudited, final numbers will be reported in the 2019/20 Financial Statements issued in December 2020.15
2018/19
Actuals
2019/20
Original Budget
2019/20
Final Budget
2019/20
Actuals
243 - RDA LOW-MOD HOUSING FUND
0000 - Undesignated
Other Expenses
166,666 250,000 351,000 350,779243-0000-60532 Homelessness Assistance
64 - Other Expenses Totals:166,666 250,000 351,000 350,779
0000 - Undesignated Totals:166,666 250,000 351,000 350,779
243 - RDA LOW-MOD HOUSING FUND Totals:166,666 250,000 351,000 350,779
166,666 250,000 351,000 350,779
166,666 250,000 351,000 350,779
166,666 250,000 351,000 350,779
166,666 250,000 351,000 350,779
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS EXPENSE DETAILS BY FUND
EXHIBIT B
2019/20 YEAR-END BUDGET REPORT
Unaudited, final numbers will be reported in the 2019/20 Financial Statements issued in December 2020.16
2018/19
Actuals
2019/20
Original Budget
2019/20
Final Budget
2019/20
Actuals
248 - SA 2004 LO/MOD BOND FUND (Refinanced in 201
9002 - ? Missing Department Description - 9002
Transfers Out
0 0 0 386,692248-9002-99900 Transfers Out
99 - Transfers Out Totals:0 0 0 386,692
002 - ? Missing Department Description - 9002 Totals:0 0 0 386,692
9102 - Housing Authority - Wash St Apts
Contract Services
0 0 145,000 0248-9102-60103 Professional Services
954,480 0 245,500 1,939248-9102-60159 Relocation Benefits
80,735 0 0 0248-9102-60185 Design/Construction
60 - Contract Services Totals:1,035,215 0 390,500 1,939
9102 - Housing Authority - Wash St Apts Totals:1,035,215 0 390,500 1,939
2004 LO/MOD BOND FUND (Refinanced in 2014) Totals:1,035,215 0 390,500 388,632
0 0 0 386,692
0 0 0 386,692
0 0 0 386,692
0 0 145,000 0
954,480 0 245,500 1,939
80,735 0 0 0
1,035,215 0 390,500 1,939
1,035,215 0 390,500 1,939
1,035,215 0 390,500 388,632
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS EXPENSE DETAILS BY FUND
EXHIBIT B
2019/20 YEAR-END BUDGET REPORT
Unaudited, final numbers will be reported in the 2019/20 Financial Statements issued in December 2020.17
2018/19
Actuals
2019/20
Original Budget
2019/20
Final Budget
2019/20
Actuals
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 20
0000 - Undesignated
Contract Services
7,376,024 0 0 0249-0000-60188 Construction
60 - Contract Services Totals:7,376,024 0 0 0
Capital Expenses
0 20,000 60,000 0249-0000-80050 Affordable Housing Project Develop
68 - Capital Expenses Totals:0 20,000 60,000 0
0000 - Undesignated Totals:7,376,024 20,000 60,000 0
11 LOW/MOD BOND FUND (Refinanced in 2016) Totals:7,376,024 20,000 60,000 0
7,376,024 0 0 0
7,376,024 0 0 0
0 20,000 60,000 0
0 20,000 60,000 0
7,376,024 20,000 60,000 0
7,376,024 20,000 60,000 0
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS EXPENSE DETAILS BY FUND
EXHIBIT B
2019/20 YEAR-END BUDGET REPORT
Unaudited, final numbers will be reported in the 2019/20 Financial Statements issued in December 2020.18
Vendor/Program Account Number Description Estimated Revised
Housing Element Update, State Mandate 241-9101-60103 Professional Services -42,700$
Housing Retenion Basin, Drainage
Improvements 241-9101-99900 Transfers Out to Capital
Improvement Fund 278,062 278,062$
$ 278,062 $ 320,762
Revised Continuing Appropriations/Carryovers from 2019/20 to 2020/21
TOTAL AUTHORITY CARRYOVERS
NOTE: In June 2020 when the budget was adopted all carryovers were estimates based on projected invoices to end fiscal year
2019/20. Upon completion of the final audit (October 2020), Finance verified account balances and additional carryover
recommendations based on current budgetary needs and constraints due to COVID. In no event shall a carryover exceed the revised
per account amount noted above.
CITY OF LA QUINTA
HOUSING AUTHORITY FUNDS AMENDED CARRYOVERS
EXHIBIT C
2019/20 YEAR-END BUDGET REPORT
19
20
City of La Quinta
HOUSING AUTHORITY MEETING: December 15, 2020
STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE FISCAL YEAR 2020/21 FIRST QUARTER
HOUSING AUTHORITY BUDGET REPORT AND APPROVE THE RECOMMENDED
BUDGET ADJUSTMENTS
RECOMMENDATION
Receive and file fiscal year 2020/21 First Quarter Housing Authority Budget
Report and approve the recommended budget adjustments.
EXECUTIVE SUMMARY
•The Fiscal Year 2020/21 First Quarter Housing Authority Budget Report
(Attachment 1) provides an update of the Authority’s fiscal activities from
July to September 2020.
•A budget report is prepared quarterly to assess the adopted budget and
incorporate adjustments based on current economic conditions and
operational requirements.
•The Report will be received and filed by the Housing Commission on
January 6, 2021.
FISCAL IMPACT
Staff recommends adjustments to funds as summarized below:
BACKGROUND/ANALYSIS
Throughout the fiscal year staff monitors the budget and proposes adjustments
to reflect current conditions and ongoing operational needs. Requests are
reviewed and discussed before recommending approval in the budget report
BUSINESS SESSION ITEM NO. 2
Fund Revenues Expenses
Housing Authority Fund (241)1,202,456$ -$
Low-Mod Housing Fund (243)- -
2011 Bond Fund (249)- -
TOTAL FUND ADJUSTMENTS 1,202,456$ -$
2020/21 FIRST QUARTER
RECOMMENDED HOUSING AUTHORITY ADJUSTMENTS
21
(Attachment 1). Funds with no adjustments from the originally presented
2020/21 Budget have been excluded from the report.
This Report will be presented to the Housing Commission on January 6 2021.
ALTERNATIVES
No alternatives are applicable.
Prepared by: Karla Romero, Finance Director
Approved by: Jon McMillen, Executive Director
Attachment 1: Fiscal Year 2020/21 First Quarter Housing Authority Budget
Report
22
HOUSING AUTHORITY
FISCAL YEAR 2020/21 FIRST QUARTER BUDGET REPORT
The following is a summary of budgetary adjustments requested for the first
quarter of fiscal year (FY) 2020/21. Account details are provided in Exhibit A
and discussed in this report.
REVENUES
Total revenue increases of $1,202,456 described as follows:
•A reduction of $30,000 to interest earnings based on interested earned
in the prior year and current market conditions yielding lower interest
returns.
•An increase of $171,000 for second trust deed repayments. To date
three outstanding balances have been repaid. This adjust reflects
current activity.
•An increase of $1,061,456 in the sale of other assets to recognize the
approved sale of portions of real property located at 46150-46176 Dune
Palms Road to the City of La Quinta for a future park and drainage
improvements. Due to COVID impacts the transaction was delayed and
revenues in the amount of $1,061,456 were transferred to the Authority
in FY 2020/21.
EXPENSES
During the first quarter, there are no proposed expenditure adjustments for
any Authority fund.
Fund Revenues Expenses
Housing Authority Fund (241)1,202,456$ -$
Low-Mod Housing Fund (243)- -
2011 Bond Fund (249)- -
TOTAL FUND ADJUSTMENTS 1,202,456$ -$
2020/21 FIRST QUARTER
RECOMMENDED HOUSING AUTHORITY ADJUSTMENTS
ATTACHMENT 1
23
City of La Quinta
Housing Authority
Exhibit A
FY 2020/21 Recommended First Quarter Budget Adjustments
Account No. Description Revenues Expenses
241-9101-41900 Allocated Interest (30,000)
241-9101-43504 Second Trust Deed Repayments 171,000
241-9101-45000 Sale of Other Assets 1,061,456
-
Account No. Description Revenues Expenses
NO ADJUSTMENTS - -
Account No. Description Revenues Expenses
NO ADJUSTMENTS - -
TOTAL ALL HOUSING AUTHORITY FUNDS 1,202,456 -
Housing Authority (241)
Low-Mod Housing (243)
2011 Bond (249)
24
POWER POINTS
HOUSING
AUTHORITY
SPECIAL
MEETING
DECEMBER 15, 2020
City Council Meeting ‐HA Special Meeting December 15, 2020
1
Housing Authority Meeting
December 15, 2020
1
Housing Authority Meeting
December 15, 2020
B1 – Fiscal Year-End 2019/20
Housing Authority Budget Report
2
1
2
City Council Meeting ‐HA Special Meeting December 15, 2020
2
Overall Revenues
•$476,575 received under budget after adjustments
–$1,061,456 deferred to FY 2020/21
•Two non‐cash adjustments
–$376,358 fair market value
–$173,558 RDA loan interest earnings
•$635,066 RDA loan repayment in 2019/20
•Bond Fund revenues from interest only
3
Overall Expenses
•Housing Authority Fund under budget by
$375,124
–Savings in payroll, legal, consultant expenses
–Carryover of $320,762 to 2020/21
•Low‐Mod & Bond Fund savings
–To remain in each fund
–2004 Bond has been closed out
4
3
4
City Council Meeting ‐HA Special Meeting December 15, 2020
3
Available Fund Balances
Fund Fund Balance
Housing Authority $11,338,100
Low‐Mod Housing $2,580,132
2011 Bond $17,159,715
Total $31,077,947
Receivable in Low‐Mod Housing Fund
RDA Loan Balance $6,6,517,436
Principal $3,915,586
Interest $2,601,850
5
6
5
6