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2013 11 19 FAOF FINANCING AUTHORITY AGENDA CITY HALL COUNCIL CHAMBERS 78-495 Calle Tampico, La Quinta REGULAR MEETING ON TUESDAY, NOVEMBER 19, 2013 AT 4:00 P.M. CALL TO ORDER ROLL CALL: Authority Members: Evans, Franklin, Henderson, Osborne, Chairperson 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. The Financing Authority values your comments; however in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by GC 54954.2(b). CONFIRMATION OF AGENDA APPROVAL OF MINUTES PAGE 1. MINUTES OF OCTOBER 15, 2013 3 CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1. RECEIVE AND FILE TREASURER'S REPORTS DATED SEPTEMBER 5 30, 2013 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS 7 DATED SEPTEMBER 30, 2013 BUSINESS SESSION — NONE FINANCING AUTHORITY AGENDA 1 NOVEMBER 19, 2013 CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS — NONE ADJOURNMENT The next regular meeting of the Financing Authority will be held on December 17, 2013 at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Teresa Thompson, Deputy City Clerk of th hereby declare that the foregoing agenda for meeting was posted near the entrance to the Tampico and on the bulletin boards at the La Avenida Bermudas and at the Stater Brothers on November 15, 2013. DATED: November 15, 2013 TERESA THOMPSON, Deputy City Clerk La Quinta Financing Authority e La Quinta Financing Authority, do the La Quinta Financing Authority Council Chambers at 78-495 Calle Quinta Cove Post Office at 51-321 Supermarket 78-630 Highway 1 1 1, Public Notices • 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. FINANCING AUTHORITY AGENDA 2 NOVEMBER 19, 2013 FINANCING AUTHORITY MINUTES TUESDAY, OCTOBER 15, 2013 A regular meeting of the La Quinta Financing Authority was called to order at 6:12 p.m. by Chairperson Adolph. PRESENT: Authority Members Evans, Franklin, Henderson, Osborne, Chair Adolph ABSENT: None PUBLIC COMMENT - None CONFIRMATION OF AGENDA - Confirmed APPROVAL OF MINUTES MOTION - A motion was made and seconded by Authority Members Evans/ Henderson to approve the minutes of September 17, 2013 as submitted. Motion passed unanimously. CONSENT CALENDAR 1. RECEIVE AND FILE TREASURER'S REPORTS DATED JULY 31, 2013 AND AUGUST 31, 2013 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED AUGUST 31, 2013 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING SEPTEMBER 30, 2013 MOTION - A motion was made and seconded by Authority Members Evans/ Franklin to approve the Consent Calendar as recommended. Motion passed unanimously. BUSINESS SESSION - None CHAIR AND BOARD MEMBERS' ITEMS - None PUBLIC HEARINGS - None ADJOURNMENT There being no further business, it was moved and seconded by Authority Members Franklin/Evans to adjourn at 6:13 p.m. Motion passed unanimously. Respectfully submitted, SUSAN MAYSELS, Authority Secretary La Quinta Financing Authority FINANCING AUTHORITY MINUTES OCTOBER 15, 2013 3 p a��tA�VZi�p�,C • � O� C� OF 9ti CITY / SA / HA / FA MEETING DATE: November 19, 2013 AGENDA CATEGORY: BUSINESS SESSION: ITEM TITLE: RECEIVE AND FILE TREASURER'S REPORT DATED SEPTEMBER 30, 2013 CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. FISCAL IMPACT: None. BACKGROUND/ANALYSIS: Per City Investment Policy, these items are presented on a monthly basis reflecting the monthly Cash Balances, Investment Activities and the Portfolio Performance, which is presented in the City Council's Consent Item Staff Report. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager 5 O� G ' I�zocv�annu t�eG 5 OF 9ti CITY / SA / HA / FA MEETING DATE: November 19, 2013 AGENDA CATEGORY: BUSINESS SESSION: ITEM TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED SEPTEMBER 30, CONSENT CALENDAR: 2013 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. EXECUTIVE SUMMARY: The monthly and year-to-date revenues and expenditures of the La Quinta Financing Authority for September 30, 2013 are hereby submitted for the Financing Authority Board to review, receive, and file. FISCAL IMPACT: None. BACKGROUND/ANAYLSIS: Revenue and expenditure reports are submitted to the La Quinta Financing Authority monthly to review, receive, and file. Attached is the transmittal of the September 30, 2013 Statements of Revenues and Expenditures for the Financing Authority. Through September 30, 2013, revenues received were $590,044 and expenditures made were $1,371 . The revenue received is the transfer from the General Fund to cover the principal and interest payment on the City Hall bonds due in October. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager Attachments: 1. Revenue Reports for September 30, 2013 2. Expenditure Reports for September 30, 2013 8 ATTACHMENT 1 LA QUINTA FINANCING AUTHORITY REVENUE DETAIL DEBT SERVICE REVENUE: Contractual Services Fees Non Allocated Interest Rental Income Transfer In TOTAL DEBT SERVICE TOTAL FINANCING AUTHORITY 07/01/2013 - 09/30/2013 ADJUSTED REMAINING % BUDGET RECEIVED BUDGET RECEIVED 5,000.00 0.00 5,000.00 0.000% 0.00 0.00 0.00 0.000% 673,400.00 590,043.75 83,356.25 87.620% 0.00 0.00 0.00 0.000% 678,400.00 590,043.75 88,356.25 86.980% 678,400.00 590,043.75 88,356.25 86.980% ATTACHMENT 2 LA QUINTA FINANCING AUTHORITY ADJUSTED 9/30/2013 REMAINING EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET DEBT SERVICE EXPENDITURES SERVICES 6,000.00 1,371.00 0.00 4,629.00 BOND PRINCIPAL- 1996 495,000.00 0.00 0.00 495,000.00 BOND INTEREST - 1996 176,400.00 0.00 0.00 176,400.00 TRANSFER OUT 0.00 0.00 0.00 0.00 TOTAL DEBT SERVICE 677,400.00 1,371.00 0.00 676,029.00 TOTAL FINANCING AUTHORITY 677,400.00 1,371.00 0.00 676,029.00 10