HomeMy WebLinkAboutPFA Reso 2023-01 RESOLUTION NO. PFA 2023 — 01
A RESOLUTION BY THE BOARD OF THE CATHEDRAL CITY PUBLIC
FINANCING AUTHORITY APPROVING A BUDGET FOR THE FISCAL
YEARS 2023/2024 AND 2024/2025.
WHEREAS, a budget for the Fiscal Years 2023/2024 and 2024/2025 has been
prepared by the Cathedral City Public Financing Authority's Manager (City Manager)
and Fiscal Officer (Financial 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 Financial Services 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 the five-year plans are appropriated for the duration of the
project. Therefore, appropriations for the five-year plans and any unfulfilled 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 24th day of May 2023.
Rit b, Chairman
ATTEST:
,ct� r,GAL
Tracey Hermosillo, Secretary
APPROVED AS TO RM:
Eric S. Vail, Authority Attorney
I, TRACEY R. HERMOSILLO, SECRETARY of the Cathedral City Public
Finance Authority, do hereby certify that the foregoing Resolution was introduced and
adopted at a regular meeting of the City Council of the City of Cathedral City held on the
24th day of May 2023 by the following vote:
AYES: Councilmember Gutierrez , Gregory and Ross; Mayor Pro Tem
NOES: Carnevale and Mayor Lamb
ABSENT: None
ABSTAIN: None
Tracey R. ermosiilo, Secretary