IA RES 2006-007 RESOLUTION NO. IA 2006-07
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT
AUTHORITY ADOPTING THE OPERATING BUDGET FOR FISCAL YEAR 2006-2007.
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers Improvement
Authority desires to adopt the following resolution adopting the operating budget for FY06-07.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE RANCHO
PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES HEREBY ADOPT THE
FOLLOWING FY06-07 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 $ 7,300
Operating Transfer from the General fund —Port. Bend 91,500
Maintenance-Abalone Cove 38,100
TOTAL REVENUES $136,900
Section 2: An operating budget for FY06-07 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 $ 93,300
Maintenance -Abalone Cove 111,768
TOTAL OPERATING EXPENDITURES $205,068
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, 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 6th day of June 2006.
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Attest:
A�thorit ecretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carolynn Petru, Commission Secretary of the Rancho Palos Verdes Joint Powers
Improvement Authority hereby certify that the above Resolution No. !A 2006-07 was duly and
regularly passed and adopted by the said Improvement Authority at a regular meeting thereof held
on June 6, 2006.
Ruth 'ty Secretary