FA Resolution 2018-001RESOLUTION NO. FA 2018 - 001
A RESOLUTION OF THE
AUTHORITY APPROVING A
2018/19
LA QUINTA FINANCING
BUDGET FOR FISCAL YEAR
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 2018/19 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 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. FA 2018-001
Budget Approval FY 2018/19
Adopted: June 19, 2018
Page 2 of 2
SECTION 3. The Executive Director shall render a monthly report 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 Quints
Financing Authority held on this 19th day of June, 2018, by the following vote:
AYES: Authority Members Fitzpatrick, Pena, Radi, Sanchez, Chairperson Evans
NOES: None
ABSENT: None
ABSTAIN: None
r
Gig ze, eZ4'4-�
LINDA EVANS, Chairperson
La Quinta Financing Authority, California
ATTEST:
MONIKA RADEVA, Acting Aut�ooty Secretary
La Quints Financing Authority, California
(SEAL)
APPROVED AS TO FORM:
WILLIAM H. IHRKE, Authority Legal Counsel
La Quinta Financing Authority, California