IA RES 2005-007 RESOLUTION NO. IA 2005-07
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET FOR FISCAL
YEAR 2005-2006.
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority desires to adopt the following resolution adopting the operating
budget for FY05-06.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY05-06 OPERATING AND CAPITAL BUDGET.
Section 1: The FY05-06 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
Maintenance - Portuguese Bend $ 5,900
Operating Transfer from the General fund — Port. Bend 91,500
Maintenance Abalone Cove 33,600
TOTAL REVENUES $ 131,000
Section 2: An operating budget for FY05-06 is hereby adopted as contained in
the Annual Budget of the Rancho Palos Verdes Joint Powers Improvement Authority
attached hereto and incorporated and referenced as part of this resolution. The
following expenditure levels are hereby established:
Maintenance - Portuguese Bend $ 92,400
Maintenance - Abalone Cove 108,400
TOTAL OPERATING EXPENDITURES $ 200,800
Section 3: Upon adoption of said Budget, the Authority may revise and/or update
said Budget in part or in its entirety, depending on the Authority's fiscal resources,
g p y
circumstances, and needs.
Section 4: The Chief Administrative Officer of the Rancho Palos Verdes Joint
Powers Improvement Authority shall be responsible for administration and execution of
said Budget.
PASSED, APPROVED, and ADOPTED the 7th day of June 2005.
AYES: Gardiner, Stern, and Vice Chair Wolowicz
NOES: None
ABSENT: Long and Chair Clark
ABSTAIN: None
t P. 14.
Au hority Chair
Attest:
AuthorRy Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carolynn Petru, Authority Secretary of the Rancho Palos Verdes Joint Powers
Improvement Authority, hereby certify that the above Resolution No. IA 2005-07 was
duly and regularly passed and adopted by the said Joint Powers Improvement Authority
at regular meeting thereof held on June 7, 2005.
Authors r ecretary
Resolution No. IA 2005-07
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