2007 02 20 FAF 'Z
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FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
TUESDAY February 20, 2007 -4:00 P.M.
Beginning Resolution No. FA 2007-001
CALL TO ORDER
Roll Call:
Board Members: Henderson, Kirk, Osborne, Sniff, and Chairman Adolph
PUBLIC COMMENT
At this time members of the public may address the Financing Authority on any
matter not listed on the agenda. Please complete a "request to speak" form and
limit your comments to three minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1 . APPROVAL OF MINUTES OF JANUARY 16, 2007.
Financing Authority Agenda 1 February 20, 2007
CONSENT CALENDAR
NOTE: Consent Calendar items are considered to be routine in nature and will be
approved by one motion.
1. RECEIVE AND FILE TRANSMITTAL OF TREASURER'S REPORT DATED
DECEMBER 31, 2006.
2. RECEIVE AND FILE TRANSMITTAL OF REVENUE & EXPENDITURES REPORT
DATED DECEMBER 31, 2006.
BUSINESS SESSION
1. CONSIDERATION OF MID -YEAR BUDGET REPORT FOR FISCAL YEAR
2006/2007.
A. MINUTE ORDER ACTION
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
For all Public Hearings on the agenda, a completed "request to speak" form must
be filed with the City Clerk prior to consideration of that item.
ADJOURNMENT
Adjourn to a regularly scheduled meeting of the Financing Authority to be held on
March 20, 2007, at 4:00 p.m. in the City Council Chambers, 78-495 Calle
Tampico, La Quinta, CA 92253.
DECLARATION OF POSTING
I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that
the foregoing agenda for the La Quinta Financing Authority meeting of February 20,
2007, was posted on the outside entry to the Council Chamber at 78-495 Calle
Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630
Highway 111, on February 16, 2007.
DATED February 16, 07 _
VERONICA , ECINO, City Clerk
City of La Quinta, California 20
Financing Authority Agenda 2 February 20, 2007
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COUNCIL/RDA MEETING DATE: February 20, 2007 AGENDA CATEGORY:
ITEM TITLE: Receive and File Transmittal of BUSINESS SESSION:
Treasurer's Report as of December 31, 2006 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
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COUNCIL/RDA MEETING DATE: February 20, 2007
ITEM TITLE: Receive and File Transmittal of Revenue
and Expenditure Reports dated December 31, 2006
RECOMMENDATION:
Receive and File
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION: aa��
CONSENT CALENDAR: C= —
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the December 31, 2006 Statement of Revenue and Expenditures for
the La Quinta Financing Authority.
Respectfully submitted,
�,� John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, December 31, 2006
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LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Non Allocated Interest
TOTAL CIP REVENUE
07/01/2006.12/3112006
REMAINING
%
BUDGET
RECEIVED
BUDGET
RECEIVED
15,00000
000
15,000.00
0.000%
0.00
980
(9.80)
0,000%
678,865 00
516,245.00
162,620 00
76.050%
5,923,157.00
3,732,732.81
2,190,42419
63.020%
6,617,022.00
4,248,987 61
2,366,034.39
64.210%
0.00 0.00 0.00 0.000%
000 000 000 0.000%
000 000 0.00 0 000%
TOTAL FINANCING AUTHORITY 6,617,022 00 4,248,987.61 2,368,034.39 64.210%
3
LA QUINTA FINANCING AUTHORITY 07101/2006-12/3112006
BUDGET
EXPENDITURES
ENCUMBERED
REMAINING
BUDGET
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
15,125.00
10,053.92
000
5,071.08
SERVICES
345,000.00
345,000.00
0.00
0.00
BOND PRINCIPAL - 1996
1,520,000.00
1,520,00000
000
0.00
BOND PRINCIPAL - 2004
333,865.00
171,245.00
000
162,620 00
BOND INTEREST - 1996
4,403,15600
2,212,978.13
0.00
2,190,177.87
BOND INTEREST - 2004
0 00
0.00
0.00
TRANSFER OUT
TOTAL DEBT SERVICE
6,617,146.00
4,259,277.05
0.00
2,367,868 95
CAPITAL IMPROVEMENT EXPENDITURES
_
0.00
0.00
0.00
BOND ISSUANCE COSTS
TOTAL CAPITAL IMPROVEMENT
-
0 00
0.00
0 00
TOTAL FINANCING AUTHORITY
6 61 14 . 0
4,259,277 05
00
2, 57,8 .95
J a�
0
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COUNCIL/RDA MEETING DATE: February 20, 2007 AGENDA CATEGORY:
ITEM TITLE: Consideration of Mid -Year Budget
Report For Fiscal Year 2006/2007
RECOMMENDATION:
It is recommended the Financing Authority Board:
Receive and File the Mid -Year Budget Report.
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA