FA Resolution 2019-001 Budget FY 2019-20RESOLUTION NO. FA 2019 - 001
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL
YEAR 2019/20
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 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 2019/20 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 2019 -
Budget Approval FY 2019/20
Adopted: June 18, 2019
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
Quinta Financing Authority held on this 18 th day of June 2018, by the
following vote:
AYES: Authority Members Fitzpatrick, Peiia, Radi, Sanchez,
Chairperson Evans
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
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La Quinta Financing Authority, California
MONIKA RADEVA, Authori Secretary
La Quinta Financing Authority, California
(SEAL)
APPROVED AS TO FORM:
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WI LLIAM H. IHRK E, Authority Legal Counsel
La Quinta Financing Authority, California
001