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FA Resolution 2009-002RESOLUTION NO. FA 2009 - 002 A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR 2009/2010 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 2009/2010 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 unapproFriated fund balance from one fund to another shall be made only upon Finahcing 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. 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. Resolution No. FA 2009-002 FY 2009/2010 Budget Adoption Adopted: July 7, 2009 Page 2 PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta Financing Authority held on this 7`" day of July 2009, by the following vote: AYES: NOES: ABSENT: ABSTAIN Members Evans, Franklin, Henderson, Sniff, Chairperson Adolph None None None DON ADOL H, C ~ person La Quinta Financing Authority ATTEST: La-Quinta (SEAL) J. NTECINO, CMC, Secretary hancin;g,Authority APPROVED AS TO FORM: . KATHERINE SON, Authority Counsel La Quinta Financing Authority