FA Resolution 2005-002
RESOLUTION NO. FA 2005-002
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A RESOLUTION OF THE LA QUINT A FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2005-2006
WHEREAS, each year the La Ouinta 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 Ouinta Financing Authority to
adopt, as follows:
SECTION 1. The Fiscal Year 2005-2006 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.
Resolution 1\10. FA 2005-002
Budget - Fiscal Year 2005-2006
Adopted: JulV 19.2005
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 at a regular meeting of the La Ouinta
Financing Authority, held on this 19th day of July, 2005, by the following vote, to wit:
AYES: Members Henderson, Osborne, Sniff, Chairman Adolph
NOES: None
ABSENT: Member Perkins
ABSTAIN: None
ATTEST:
J~GREE&'~itÇ sÆtary
La Ouinta Financing Authority
(SEAL)
APPROVED AS TO FORM:
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DON ADOLPH, Ch man
La Ouinta Financing Authority