IA RES 2014-007 RESOLUTION NO. IA 2014-07
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 2014-2015.
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority desires to adopt the following resolution adopting the operating
budget for FY14-15.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY13-14 OPERATING AND CAPITAL BUDGET.
Section 1: The FY14-15 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
Interest Earnings - Portuguese Bend $ 640
Transfer In — Portuguese Bend 40,000
Interest Earnings - Abalone Cove 2,300
Transfer In —Abalone Cove 35,000
TOTAL REVENUES $ 77,940
Section 2: An operating budget for FY14-15 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 $ 97,600
Maintenance -Abalone Cove 70,300
TOTAL OPERATING EXPENDITURES $ 167,900
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 5th day of Augus �1 .
rAL
AUIN CHAIRPERSON
ATTEST:
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AUTHORITY SECRETARY
State of California )
County of Los Angeles )
City of Rancho Palos Verdes )
I, CARLA MORREALE, Authority Secretary of the Rancho Palos Verdes Joint Powers
Improvement Authority, hereby certify that the above Resolution No. IA 2014-07 was duly
and regularly passed and adopted by the said Joint Powers Improvement Authority at
regular meeting thereof held on August 5, 2014.
7 215Wc-eAWA
AUTHORITY SECRETARY
Resolution No. IA 2014-07
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