IA RES 2015-009 RESOLUTION NO. IA 2015-09
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 2015-2016
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority desires to adopt the following resolution adopting the operating
budget for FY15-16.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY15-16 OPERATING AND CAPITAL BUDGET.
Section 1: The FY15-16 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
Interest Earnings - Portuguese Bend $ 2,520
Transfer In — Portuguese Bend 57,000
Interest Earnings -Abalone Cove 9,400
Transfer In —Abalone Cove 37,000
TOTAL REVENUES $ 105,920
Section 2: An operating budget for FY15-16 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 $ 113,200
Maintenance - Abalone Cove 71,900
TOTAL OPERATING EXPENDITURES $ 185,100
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 7th day of July 2015.
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A HORS 4WAIRPERSON
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 2015-09
was duly and regularly passed and adopted by said Improvement Authority at a regular
meeting thereof held on July 7, 2015.
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AUTHORITY SECRETARY
Resolution No. IA 2015-09
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