Loading...
2003 03 18 FA0 �O c7CJ e4X# m OF TY�9 Financing Authority Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Tuesday March 18, 2003 - 3:00 p.m. Beginning Res. No. FA 2003-001 CALL TO ORDER ROLL CALL: Board Members: Henderson, Osborne, Perkins, Sniff, Chairperson Adolph PUBLIC COMMENT At this time, members of the public may address the Finance Authority on any matter not listed on the agenda or scheduled for public hearing. Please complete a "request to speak" form and limit your comments to three (3) minutes. For all Public Hearings on the agenda, a completed "request to speak" form must be filed with the City Clerk prior to the Council beginning consideration of that item. Please watch the timing device on the podium. CONFIRMATION OF AGENDA APPROVAL OF MINUTES 1. MINUTES OF THE MEETING OF FEBRUARY 18, 2002 CONSENT CALENDAR 1. TRANSMITTAL OF TREASURER'S REPORT DATED JANUARY 31, 2003. 2. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED JANUARY 31, 2003. 01 BUSINESS SESSION - None DEPARTMENT REPORTS - None CHAIR AND BOARD MEMBERS' ITEMS - None PUBLIC HEARINGS - None ADJOURNMENT - Adjourn to a Regular Meeting of the Financing Authority to be held on April 15, 2003 in the City Council Chambers, 78-495 Calle Tampico, CA 92253. La Quinta Finance Authority Page 2. March 18, 2003 DECLARATION OF POSTING I, June S. Greek, Authority Secretary of the City of La Quinta Financing Authority, do hereby declare that the foregoing agenda for the La Quinta Financing Authority meeting of Tuesday, March 18, 2003, was posted on the outside entry to the Council Chambers, 78-495 Calle Tampico and on the bulletin board at the La Quinta Chamber of Commerce and at Stater Bros. 78-630 Highway 1 1 1, on Friday, March 14, 2003. DATED: March 14, 2003 JU REEK, CIVIC, A orit ecretary City of La Quinta, California 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 777-7025, 24-hours in advance of the meeting and accommodations will be made n3 La Quinta Finance Authority Page 3 March 18, 2003 T a 4t!t 4 AGENDA CATEGORY: BUSINESS SESSION: COUNCIURDA MEETING DATE: March 18, 2003 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION• Transmittal of Treasurer's Report as of January 31, 2003 RECOMMENDATION: It is recommended the La Quinta Financing Authority: Receive and file. PUBLIC HEARING: PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA 04 COUNCIL/RDA MEETING DATE: March 18, 2003 Transmittal of Revenue and Expenditure Report January 31, 2003 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of the January 31, 2003 Statement of Revenue and Expenditures for the La Quinta Financing Authority. pectj�lly submitted, hn M. Falconei, Finance Director Approved for Submission by: Thomas P. Genovese, Executive Director Attachments: 1. Revenue and Expenditures Report, January 31, 2003 n5 ATTACHMENT 1 LA QUINTA FINANCING AUTHORITY REVENUE DETAIL REMAINING % BUDGET RECEIVED BUDGET RECEIVED DEBT SERVICE REVENUE: Contractual Services Fees 9,175.00 0.00 9,175.00 0.000% Non Allocated Interest 0.00 (69.65) 69.65 0.000% Rental Income 678,955.00 485,492.56 193,462.44 71.510% Transfer In 0.00 0.00 0.000% TOTAL DEBT SERVICE 688,130.00 485,422.91 202,707.09 70.540% CAPITAL IMPROVEMENT REVENUE: Pooled Cash Allocated interest 0.00 (1.56) 1.56 0.000% Non Allocated Interest 0.00 115.61 (115.61) 0.000% TOTAL CIP REVENUE 0.00 114.05 (114.05) 0.000% TOTAL FINANCING AUTHORITY 688,130.00 485,536.96 202,593.04 70.560% 2 ng LA QUINTA FINANCING AUTHORITY 07101/2002.1/31103 REMAINING % EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED DEBT SERVICE EXPENDITURES SERVICES 9,688.00 2,711.49 0.00 6,974.51 28.0% BOND PRINCIPAL 285,000.00 285,000.00 0.00 0.00 100.0% BOND INTEREST 394,435.00 200,495.00 0.00 193,940.00 50.8% TRANSFER OUT 0.00 0.00 0.00 0.00 0.0% TOTAL DEBT SERVICE 689,121.00 488,206.49 0.00 200,914.51 70.8% CAPITAL IMPROVEMENT EXPENDITURES TRANSFER OUT (131,792.42) 0.00 0.00 (131,792.42) 0.0% TOTAL CAPITAL IMPROVEMENT (131,792.42) 0.00 0.00 (131,792.42) 0.0% TOTAL FINANCING AUTHORITY 557,328.58 488,206.49 0.00 69,122.09 87.80% n7 3