FA Resolution 1996-01 RESOLUTION NO. FA96-01
A RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
APPROVING A BUDGET FOR FISCAL YEAR 1996-97
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 1996-97 Budget which is on file with the La Quinta
Financing Aauthority 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 No. FA96-01
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 this 22nd day of July, 1996 , by the
following vote:
AYES: Board Members Adolph, Henderson, Perkins, Sniff, Chairman Holt
NOES: None
ABSENT: None
ABSTAIN: None A~J¢~ ~- ~
GLENDA L. HOLT, Chair
La Quinta Financing Authority
A T:
AAUN~~LA,~ry
La Quinta Financing Authority
APPROVED AS TO FORM:
WN C. HONEYWELL,'~ity Attorney
La Quinta Financing Authority