CC Resolution 2024-028 Budget & Appropriations FY 2024-25RESOLUTION NO. 2024 - 028
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LA QUINTA, CALIFORNIA, ESTABLISHING THE
CITY'S APPROPRIATION LIMIT FOR FISCAL YEAR
2024/25 AND APPROVING A BUDGET FOR FISCAL
YEAR 2024/25
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
2024/25 is $179,170,357.
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 2024/25 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 2024/25 budget and capital improvement program
which is on file with the City Clerk is hereby approved.
Resolution No. 2024 — 028
Budget Approval FY 2024/25
Adopted: June 18, 2024
Page 2 of 3
SECTION 4. Continuing Appropriations which remain unspent and were
authorized by Council in Fiscal Year 2023/24 are approved in the Fiscal Year 2024/25
budget in an amount not to exceed $4,450,000 (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 2023/24 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 18th day of June 2024, by the following vote:
AYES: Councilmembers Fitzpatrick, McGarrey, Pena, Sanchez, and Mayor
Evans
NOES: None
ABSENT: None
ABSTAIN: None
Resolution No. 2024 — 028
Budget Approval FY 2024/25
Adopted: June 18. 2024
Page 3 of 3
LINDA EVANS, Mayor
City of La Quinta, California
ATTEST:
MONIKA RADEV , City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
RESOLUTION NO. 2024-028
EXHIBIT A
CITY OF LA QUINTA
FY 2024/25 ADOPTED BUDGET
is/Carryovers from 2
Description/Program
Account Number
Account Name
Estimated
Marketing efforts to attract group business to hotels
101-1007-60536
TOT Resort Rebate Program
$ 350,000
Fire ladder truck purchase
101-2002-80101
Machinery & Equipment
$ 400,000
Sidewalk repair
101-7003-60103
Professional Services
$ 150,000
GENERAL FUND CARRYOVERS
$ 900,000
Emergency road repair
201-7003-72111
Road Improvements
$ 500,000
Heavy machinery/equipment purchase
201-7003-80100
Machinery & Equipment
$ 450,000
Painting exterior of Library
202-3004-72110
Building Improvements
$ 150,000
Median upgrades
215-7004-60431
Materials/Supplies
$ 400,000
Tree maintenance
215-7004-60673
Tree Maintenance/Palm Trees
$ 400,000
Dune Palms Mobile Estates improvements
241-9104-72110
Building/Site Improvements
$ 500,000
Vehicle upgrades
501-0000-60675
Parts, Accessories and Uplifts
$ 130,000
Painiting/repairs
501-0000-71103
City Bldg Repl/Repair
$ 175,000
Heavy machinery/equipment purchase
501-0000-80100
Machinery & Equipment
$ 145,000
Park supplies and upgrades
503-0000-71060
Parks
$ 700,000
SPECIAL FUNDS CARRYOVERS
$ 3,550,000
TOTAL CARRYOVERS FOR ALL FUNDS
$ 4,450,000
NOTE: In June 2024 when the budget is adopted, all carryovers are estimates based on projected invoices to end fiscal year
2023124. Upon completion of the final audit, Finance verifies account balances and makes additional carryover recommendations
based on current budgetary needs.
CARRYOVER TOTALS BY FUND
General Fund (101)
Gas Tax Fund (201)
Library and Museum Fund (202)
Lighting & Landscape Fund (215)
Housing Authority Fund (241)
Facility & Fleet Replacement Fund (501)
Park Equipment & Facility Fund (503)
TOTAL CARRYOVERS BY FUND
ESTIMATED
$ 900,000
$ 950,000
$ 150,000
$ 800,000
$ 500,000
$ 450,000
$ 700,000
$ 4,450,000
CITY OF LA QUINTA
RESOLUTION NO. 2024-028
EXHIBIT B
FY 2024/25 ADOPTED BUDGET
An • 11•
.1ION majogINN•
1 -e 1 ' •I• -• C
•o le 1
ESTIMATED COMMITTED & UNASSIGNED
FUND BALANCE
ESTIMATED AT
6-30-2024
LOAN PAYMENT
TO GENERAL
FUND FROM
SUCCESSOR
AGENCY
OPERATING
SURPLUS
/(SHORTFALL)
ESTIMATED AT 6
30-2025
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
$ 49,000,000
$ 2,804,654
1 $ 3,382,635
1 $ 55,187,289
TOTAL ESTIMATED RESERVES
$ 94,000,000
$ 2,804,654
$ 3,382,635
$ 100,187,289
SUMMARY
RESERVES 6/30/24 $ 94,000,000
NET CHANGE $ 6,187,289
RESERVES 6/30/24 $ 100,187,289
Net change, $6,187,289
CALCULATION FOR FORMER REDEVELOPMENT AGENCY LOAN REPAYMENT
FY 2024/25 Approved Repayment
Fund Total Repayment Distribution % Distribution $
General Fund $ 3,505,817 x 80% = 2,804,654
Housing Fund $ 3,505,817 x 20% = 701,163
$ 3,505,817
ESTIMATED ASSIGNED
FUND BALANCE
ESTIMATED AT
6-30-2024
ADDITIONS
DELETIONS
ESTIMATED AT
6-30-2025
SALES TAX MEASURE G
$
33,700,000
$
-
$
4,000,000
$
29,700,000
PUBLIC SAFETY FIRE SERVICE TRUST
$
14,800,000
$
-
$
-
$
14,800,000
CARRYOVERS AND CAPITAL PROJECTS
(GENERAL FUND ONLY)
$
25,950,000
$
-
$
-
$
25,950,000
PENSION TRUST FUND
$
5,400,000
$
200,000
$
-
$
5,600,000
OTHER POST EMPLOYMENT BENEFITS
TRUST FUND
$
2,000,000
$
40,000
$
-
$
2,040,000
TOTAL ASSIGNED RESERVES
$
81,850,000
$
240,000
1 $
(4,000,000)1
$
78,090,000