HomeMy WebLinkAboutPFA Reso 2017-01 RESOLUTION NO. PFA 2017-01
A RESOLUTION BY THE BOARD OF THE CATHEDRAL CITY PUBLIC
FINANCING AUTHORITY APPROVING A BUDGET FOR THE FISCAL YEARS
2017-18 AND 2018-19.
WHEREAS, a budget for the Fiscal Years 2017-18 and 2018-19 has been prepared by
the Cathedral City Public Financing Authority's Manager (City Manager) and Fiscal Officer
(Administrative Services Director); and
WHEREAS, the Board examined said budget and conferred with the Manager and the
Fiscal Officer and
WHEREAS, the Board desires to adopt a final budget for the fiscal year; and
WHEREAS, the Board has, after due deliberation and consideration, made such
amendments in the proposed final budget as it considered desirable;
NOW, THEREFORE, BE IT RESOLVED, by the Board of the Cathedral City Public
Financing Authority as follows:
SECTION 1. The budget, a summary of which is attached hereto and made a part of
hereof, is hereby approved and amounts thereby appropriated to the departments, activities,
and projects. The revenue estimates contained are hereby accepted.
SECTION 2. The Fiscal Officer shall have the authority to adjust the appropriations
within each fund, provided however, the total appropriations for the entire fund do not exceed
the amounts approved in this budget resolution (or amending resolution). Said adjustments of
the appropriations for each department or activity shall be made only upon written request to
the Manager and/or the Fiscal Officer, the form of which shall be prescribed and approved by
the Fiscal Officer. Once such a written request is properly executed and approved, the Finance
Department shall make such funds available.
SECTION 3. Transfers of fund balances from one fund to another shall be approved by
the Fiscal Officer.
SECTION 4. At the close of a fiscal year, outstanding Operating Budget purchase
commitments for goods and services will not be carried forward into the next fiscal year.
Budgets for Capital Improvement Projects are appropriated for the duration of the project.
Therefore, appropriations for Capital Improvement Projects and unfulfilled Capital
Improvement purchasing commitments at the end of a fiscal year are automatically carried
forward to the next fiscal year.
SECTION 5. The repayment of demands prior to audit may be made by the Fiscal
Officer in conformity with the authority provided by Section 37208 of the Government Code of
the State of California.
SECTION 6. The Fiscal Officer shall render a semi-annual report to the Board on the
status of operational revenues and expenditures.
PASSED, APPROVED, AND ADOPTED this 10th day of May, 2017.
/ /
- a ley E. Henry, Chair
ATTEST:
sof Tr:
I
Gary F. Howell, Secr-tary
APPROVED AS TO FO M:
Eric S. Vail, City Attorney
I, GARY F. HOWELL, SECRETARY of the City of Cathedral City Public Financing
Authority, do hereby certify that the foregoing Resolution was introduced and adopted at a
regular meeting of the City Council, serving as the Public Finance Authority, of the City of
Cathedral City held on the 10th day of May, 2017 by the following vote:
AYES: Board Members Aguilar, Carnevale and Kaplan; Vice-Chairman
Pettis and Chairman Henry
NOES: None
ABSENT: None
ABSTAIN: None
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Gary , Howell, S-rretary