IA RES 2010-007 RESOLUTION NO. IA 2010-07
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 2010-2011.
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority desires to adopt the following resolution adopting the operating
budget for FY10-11.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY10-11 OPERATING AND CAPITAL BUDGET.
Section 1: The FY10-11 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
Maintenance - Portuguese Bend $ 1,030
Transfer In — Portuguese Bend 101,000
Maintenance -Abalone Cove 6,500
TOTAL REVENUES $ 108,530
Section 2: An operating budget for FY10-11 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 $ 141,700
Maintenance - Abalone Cove 109,490
TOTAL OPERATING EXPENDITURES $ 251,190
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 July 2010.
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ATTEST:
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Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, Secretary of the Rancho Palos Verdes Joint Powers Improvement
Authority, hereby certify that the above Resolution No. IA 2010-07 was duly and regularly
passed and adopted by the said Joint Powers Improvement Authority at regular meeting
thereof held on July 6, 2010.
Secretary
Resolution No. IA 2010-07
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