FA Resolution 2008-002RESOLUTION N0. FA 2008-002
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2008-2009
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 2008-2009 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~:~e
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 No. FA 2008-002
Budget Approval FY 2008/2009
Adopted July 15, 2008
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 Quinta
Financing Authority this 15th day of July, 2008, by the following vote:
AYES: Authority Members Henderson, Kirk, Osborne, Sniff, Chairman Adolph
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
Ll
APPROVED AS TO FORM:
DON AD H, C irman
La Quinta Financing Authority
M. ATHERI JENSO hority sel
La Quinta Financing Au rity