FA Resolution 2002-03 RESOLUTION NO. FA 2002-03
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 2002-2003
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
several 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 2002-2003 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 ;':?
for prior year Financing Authority approved capital projects and
shall not exceed the approved project budget.
Resolution No. F". 2002-03
Budget / FY 2002-2003
Adopted: July 16, 2002
Page 2
SECTION 3. The Executive Director shall render a monthly report to the
Financing Authority on the status of City operations as it relates to the approved
budget and any amendments thereto.
PASSED, APPROVED and ADOPTED by the La Quinta Financing Authority at a
regular meeting held on this 16th day of July, 2002, by the following vote:
AYES: Members Adolph, Henderson, Perkins, Sniff, Chairman Pe~a
NOES: None
ABSENT: None
ABSTAIN: None .~. ~.
~ aO ~ u ~nJt aP~i~ aA~:?nh; i/~,~hno r, t y
ATTEST:
La Quinta Financing Authority
APPROVED AS TO FORM:
~a' ~uAi nTtHaE~i n a~ ~ ~ ~OutNh~° city C ° u n s el