CC Resolution 2023-023 Budget & Appropriations FY 2023-24RESOLUTION NO. 2023 — 023
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LA QUINTA, CALIFORNIA, ESTABLISHING THE
CITY'S APPROPRIATION LIMIT FOR FISCAL YEAR
2023/24 AND APPROVING A BUDGET FOR FISCAL
YEAR 2023/24
WHEREAS, each year the La Quinta City Council adopts a budget for Revenues
and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the City Council desires to make provisions for a level of services
commensurate with the needs of the City; and
WHEREAS, the City Council has reviewed said budget and capital improvement
program and has had several public meetings to receive public input; and
WHEREAS, the City Council has, after due deliberation and consideration, made
such amendments in the proposed budget and capital improvement program as it
considers desirable; and
WHEREAS, Section 7910 of the Government Code of the State of California
provides that each year the governing body of each local jurisdiction shall, by resolution,
establish its appropriations limit for the following fiscal year; and
WHEREAS, Section 7902(b) of the Government Code sets forth the method for
determining the said appropriations limit, to be based upon the limit applicable for the
prior fiscal year and adjusted for changes in the cost -of -living and in City population.
NOW, THEREFORE, BE IT RESOLVED by the City of La Quinta to adopt, as
follows:
SECTION 1. The appropriations limit for the City of La Quinta established in
accordance with Section 7902(b) of the California Government Code, for Fiscal Year
2023/24 is $170,450,479.
SECTION 2. It is hereby found and determined that in compliance with
Government Code Section 7910, the documentation used in the determination of said
appropriations limit for Fiscal Year 2023/24 was
available to the public in the Finance Department of the City and in the Office of the City
Clerk at least fifteen days prior to this date.
SECTION 3. The Fiscal Year 2023/24 budget and capital improvement program
which is on file with the City Clerk is hereby approved.
Resolution No. 2023 — 023
Budget Approval FY 2023/24
Adopted: June 20, 2023
Page 2 of 3
SECTION 4. Continuing Appropriations which remain unspent and were
authorized by Council in Fiscal Year 2022/23 are approved in the Fiscal Year 2023/24
budget in an amount not to exceed $5,724,192 (Exhibit A).
SECTION 5. 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 City Council
approval.
B. Transfers of budgeted appropriations between funds or capital projects shall
be made only upon City Council approval.
C. Transfers of budgeted appropriations between accounts within a department
or capital project may be made with the approval of the City Manager or his
designee.
D. Prior year budget continuing Appropriations and Encumbrances for
unexpended capital project and grant appropriations remaining from
uncompleted prior year capital projects and grant programs shall be made
with City Manager approval. These carry-over appropriations are for prior
year Council approved capital projects and shall not exceed the approved
project budget.
SECTION 6. The City Council, recognizing the need for maintaining Fund
Balance reserves has established a Reserve Policy. These funds cannot be
appropriated without the explicit approval of the City Council. Exhibit B General Fund
Reserves Overview shows estimated amounts, final amounts will be published in the
Fiscal Year 2022/23 Annual Comprehensive Financial Report "ACFR."
SECTION 7. The City Manager shall render a monthly report to the City Council
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 City
Council held on this 20th day of June 2023, by the following vote:
AYES: Councilmembers Fitzpatrick, McGarrey, Pena, Sanchez, and Mayor
Evans
NOES: None
ABSENT: None
ABSTAIN: None
Resolution No 2023 — 023
Budget Approval FY 2023/24
Adopted: June 20, 2023
Page 3 of 3
ATTEST:
MONIKA RADEV , CitylClerk
City of La Quinta, California
APPROVED AS TO FORM:
WILLIAM H. IHRK City Attorney
City of La Quinta, California
LIN A EVANS, Mayor
City of La Quinta, California
CITY OF LA QUINTA
RESOLUTION NO. 2023-023
EXHIBIT A
FY 2023/24 ADOPTED BUDGET
Continuing Appropriations/Carryovers from 2022/23 to 2023/24
Descriotion/Proaram Account Number Account Name Estimated
Marketing efforts to attract group business to hotels
101-1007-60536
TOT Resort Rebate Program
$ 300,000
Fire Ladder Truck purchase
101-2002-80101
Machinery & Equipment
$ 360,000
Park landscape Improvements
101-3005-60431
Materials/Supplies
$ 90,000
Replacement of street signs
101-7006-60103
Professional Services
$ 200,000
GENERAL FUND CARRYOVERS
$ 950,000
Heavy machinery/equipment purchase
201-7003-80100
Machinery & Equipment
$ 300,000
Median upgrades
215-7004-60431
Materials/Supplies
$ 100,000
Dune Palms Mobile Estates improvements
241-9104-72110
Building/Site Improvements
$ 400,000
Land Purchase- Highway 111 and Dune Palms
249-0000-74010
Land Acquisition
$ 3,624,192
Heavy machinery/equipment purchase
501-0000-80100
Machinery & Equipment
$ 150,000
Park supplies and upgrades
503-0000-71060
Parks
$ 200,000
SPECIAL FUNDS CARRYOVERS
$ 4,774,192
TOTAL CARRYOVERS FOR ALL FUNDS $ 5,724,192
NOTE: In June 2023 when the budget is adopted, all carryovers are estimates based on projected invoices to end fiscal year
2022/23. Upon completion of the final audit (approx. October 2023), Finance verifies account balances and makes additional
carryover recommendations based on current budgetary needs.
CITY OF LA QUINTA
RESOLUTION NO. 2023-023
EXHIBIT B
FY 2023/24 ADOPTED BUDGET
SUMMARY
RESERVES 6/30/23 $ 59,500,000
NET CHANGE $ 4,399,011
RESERVES 6/30/24 $ 63,899,011
Net change, $4,399,011
CALCULATION FOR FORMER REDEVELOPMENT AGENCY LOAN REPAYMENT
FY 2023/24 Approved Repayment
Fund Total Repayment Distribution % Distribution $
General Fund $ 3,437,076 x 80% = 2,749,661
Housing Fund $ 3,437,076 x 20% = 687,415
$ 3,437,076
ESTIMATED ASSIGNED
FUND BALANCE
ESTIMATED AT
6-30-2023
ADDITIONS
DELETIONS
ESTIMATED AT
6-30-2024
SALES TAX (MEASURE G)
.�
..
$
4,000,000
$ -
$
19,125,000
:, '•
• ••• '• ••' •
11,500,000
$
-
$ -
$
11,500,000
CARRYOVERS AND CAPITAL
PROJECTS (GENERAL FUND ONLY)
$
18,950,000
$
-
$ -
LOAN PAYMENT
18,950,000
PENSION TRUST FUND
$
5,200,000
$
25,000
TO GENERAL
$
5,225,000
OTHER POST EMPLOYMENT
BENEFITS TRUST FUND
$
1,800,000
$
FUND FROM
OPERATING
$
1,850,000
ESTIMATED COMMITTED
ESTIMATED AT
SUCCESSOR
SURPLUS
ESTIMATED AT
FUND BALANCE
$
6-30-2023
AGENCY
/(SHORTFALL)
6-30-2024
NATURAL DISASTER
$
15,000,000
$
15,000,000
ECONOMIC DISASTER
$
13,000,000
$
13,000,000
CASH FLOW
$
5,000,000
$
5,000,000
CAPITAL REPLACEMENT
$
12,000,000
$
12,000,000
UNAPPROPRIATED
$
14,500,000
is 2,749,661
1 $ 1,649,350
1 $
18,899,011
TOTAL COMMITTED RESERVES
$
59,500,000
$ 2,749,661
$ 1,649,350
$
63,899,011
SUMMARY
RESERVES 6/30/23 $ 59,500,000
NET CHANGE $ 4,399,011
RESERVES 6/30/24 $ 63,899,011
Net change, $4,399,011
CALCULATION FOR FORMER REDEVELOPMENT AGENCY LOAN REPAYMENT
FY 2023/24 Approved Repayment
Fund Total Repayment Distribution % Distribution $
General Fund $ 3,437,076 x 80% = 2,749,661
Housing Fund $ 3,437,076 x 20% = 687,415
$ 3,437,076
ESTIMATED ASSIGNED
FUND BALANCE
ESTIMATED AT
6-30-2023
ADDITIONS
DELETIONS
ESTIMATED AT
6-30-2024
SALES TAX (MEASURE G)
$
15,125,000
$
4,000,000
$ -
$
19,125,000
PUBLIC SAFETY FIRE SERVICE
TRUST
$
11,500,000
$
-
$ -
$
11,500,000
CARRYOVERS AND CAPITAL
PROJECTS (GENERAL FUND ONLY)
$
18,950,000
$
-
$ -
$
18,950,000
PENSION TRUST FUND
$
5,200,000
$
25,000
$ -
$
5,225,000
OTHER POST EMPLOYMENT
BENEFITS TRUST FUND
$
1,800,000
$
50,000
$ -
$
1,850,000
TOTAL ASSIGNED RESERVES
$
52,575,000
$
4,075,000
$ -
$
56,650,000