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FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
REGULAR MEETING
TUESDAY, OCTOBER 18, 2011 AT 4:00 P.M.
Beginning Resolution No. FA 2011-005
CALL TO ORDER
Roll Call:
Board Members: Evans, Franklin, Henderson, 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 MEETING MINUTES OF SEPTEMBER 20, 2011
CONSENT CALENDAR
NOTE: Consent Calendar items are considered to be routine in nature and will be approved
by one motion.
1. RECEIVE AND FILE TREASURER'S REPORT DATED AUGUST 31, 2011
FINANCING AUTHORITY AGENDA 1 OCTOBER 18, 201'1
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED AUGUST
31, 2011 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER
ENDING SEPTEMBER 30, 2011
3. APPROVAL OF THE LA QUINTA FINANCING AUTHORITY FINANCIAL
STATEMENTS CONTAINED WITHIN THE COMPREHENSIVE ANNUAL
FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2011
BUSINESS SESSION - NONE
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS - NONE
ADJOURNMENT
The next regular meeting of the Financing Authority will be held on November 15,
2011 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 October 18,
2011, 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 October 14, 2011.
DATE . October 14, 2011
" A�/' W,
VERONICA
City of La f
Public Notice
o'MONTECINO, City Clerk
inta, California
Any writings or documents provided to a majority of the Financing Authority regarding any
item on this agenda will be made available for public inspection at the City Clerk counter at
City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal
business hours.
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FINANCING AUTHORITY AGENDA 2 OCTOBER 18, 20r1 �
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AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: October 18, 2011 BUSINESS SESSION:
ITEM TITLE: Receive and File Transmittal of
Treasurer's Report as of August 31, 2011
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
CONSENT CALENDAR: -L
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Treasurer's Report dated August 31, 2011.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
9.0 003
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AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: October 18, 2011 BUSINESS SESSION:
ITEM TITLE: Receive and File Transmittal of Revenue CONSENT CALENDAR:
and Expenditure Report dated August 31, 2011 and
STUDY SESSION:
Investment Summary Report for the Quarter Ending
September 30, 2011 PUBLIC HEARING:
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Receive and File Transmittal of the August 31, 2011 Statement of Revenue and
Expenditures for the La Quinta Financing Authority and Investment Summary
Report for the Quarter Ending September 30, 2011.
Respectfully submitted,
A? q
John M: Falconer, Finance Director
4 004
Approved for submission by:
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Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, August 31, 2011
2. Investment Summary Report for the Quarter Ending September
30, 201 1
LA OUINTA FINANCING AUTHORITY
REVENUE DETAIL
W /01 /2011 .08131 /2011
ADJUSTED
BUDGET RECEIVED
A 1 1 N1.r11VIC1V 1 1
REMAINING %
BUDGET RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transferin
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Nan Allocated Interest
TOTAL CIP REVENUE
11600.00
000
11,6D0.00
0000%
0.00 -
0,00
0.00
0.D00%
673.521.00
0,00
673,521,00
0.000%
7,479,250 00
0.00
7 479 250.00
0 WO%
8,164.371,00
0.00
8,164,371.00
0000%
0.00 0,00 0.00 0.000%
0.00 0,00 000 0.000%
0.00 0.00 0.00 0.000 %
TOTAL FINANCING AUTHORITY 8164371.00 0.00 8,1K371,00 0.000%
LA OUINTA FINANCING AUTHORITY
ADJUSTED
08/31/11
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
DEBT SERVICE EXPENDITURES
SERVICES
11,600.00
4,205.00
0.00
7,395.00
BOND PRINCIPAL-19%
445,000.00
0.00
0.00
445,00000
BOND PRINCIPAL -2004
1,505,000.00
0.00
0.00
1,B05,000.00
BOND PRINCIPAL - 2011
0,00
0.00
0.00
0.00
BONDINTEREST-1996
228,521.00
0.00
0.00
228,521.00
BOND INTEREST - 2004
4,099,719. 00
0.00
0.00
4,099,719.00
BOND INTEREST - 2011
1574,531. DO
0.00
0.00
1,574,531. DO
TRANSFER OUT
0.00
0,00
0.00
0.00
TOTAL DEBT SERVICE 8,164,37100
CAPITAL IMPROVEMENT EXPENDITURES
BOND ISSUANCE COSTS
0,00
0.00
000
0.00
TRANSFER OUT
0.00
0.00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
TOTAL FINANCING AUTHORITY
ATTACHMENT 2
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COUNCIL/RDA MEETING DATE: October 18, 2011
ITEM TITLE: Approval of the La Quinta Financing
Authority Financial Statements Contained within the
Comprehensive Annual Financial Report for the Year
Ended June 30, 2011
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION: _
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve, receive and file the La Quinta Financing Authority Financial Statements
contained within the Comprehensive Annual Financial Report (CAFR) for the Year
Ended June 30, 2011.
FISCAL IMPLICATIONS:
The 1996 Civic Center refunding bond issue and the 2004 and 2011 Financing
Authority bond issue principal and interest bond payments are accounted for in the
CAFR Debt Service Funds. The 2004 and 2011 Financing Authority bond issues
also has available bond proceeds which are accounted for as a Capital Project Fund
in the CAFR.
BACKGROUND AND OVERVIEW:
The financial activities of the La Quinta Financing Authority are contained in the
City CAFR and are reported as Debt Service and Capital Project Fund types.
FINDINGS AND ALTERNATIVES:
The alternatives available to the La Quinta Financing Authority include:
1. Approve, receive and file the La Quinta Financing Authority Financial
2. Statements contained within the Comprehensive Annual Financial Report for
the Year Ended June 30, 2011, or
3. Do not approve, receive and file the La Quinta Financing Authority Financial
Statements contained within the Comprehensive Annual Financial Report for
the Year Ended June 30, 2011; or
4. Provide staff with alternative direction.
Respectfully submitted,
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John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
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