FA Resolution 2024-001 Budget Approval FY 2024-25RESOLUTION NO. FA 2024 - 001
A RESOLUTION OF THE FINANCING AUTHORITY OF THE
CITY OF LA QUINTA, CALIFORNIA, APPROVING FISCAL
YEAR 2024/25 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 2024/25 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.
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.
Resolution No. FA 2024 - 001
Financing Authority Fiscal Year 2024/25 Budget Approval
Adopted: June 18, 2024
Page 2 of 2
PASSED, APPROVED, and ADOPTED at a special meeting of the La Quinta
Financing Authority held on this 18th day of June 2024, by the following vote:
AYES: Authority Members Fitzpatrick, McGarrey, Pena, Sanchez, and
Chairperson Evans
NOES: None
ABSENT: None
ABSTAIN: None
LINDA EVANS, Chairperson
La Quinta Financing Authority,
California
ATTEST:
MONIKA RADE A, Se retary
La Quinta Financing Authority,
California
(AUTHORITY SEAL)
APPROVED AS TO FORM:
WILLIAM H. IHRK , Authority Counsel
La Quinta Financing Authority,
California