RPVCCA_IA_SR_2012_07_03_04_FY12-13_IA_BudgetCITY OF
MEMORANDUM
,
RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE CHAIR &COMMISSION MEMBERS~
DENNIS McLEAN,DIRECTOR OF FINANCE &IT V!Jl:,
JULY 3,2012
FY12·13 IMPROVEMENT AUTHORITY BUDGET
CAROLYN LEHR,EXECUTIVE DIRECTOR~
Staff Coordinator:Kathryn Downs,Deputy Director of Finance &Information
Technology (,0
RECOMMENDATION
Adopt Resolution No.IA 2012-; A RESOLUTION OF THE RANCHO PALOS VERDES
JOINT POWERS IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 2012-2013.
DISCUSSION
The draft Improvement Authority budget for FY12-13 is begin presented to the Commission
at a public meeting for review and adoption (see Attachment A).If the Commission wishes
to make any changes to the proposed budget,they can be read into the record during
tonight's budget hearing.
Attachments
Resolution No.IA 2012-
Attachment A -FY12-13 Improvement Authority Summary of Funds
IA 4-1
RESOLUTION NO.IA 2012-
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 2012-2013
WHEREAS,the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority desires to adopt the following resolution adopting the operating
budget for FY12-13.
NOW,THEREFORE,BE IT RESOLVED,THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY12-13 OPERATING AND CAPITAL BUDGET.
Section 1:The FY12-13 Revenue Budget (inclusive of transfers from the City's
General Fund)is hereby adopted,establishing the following revenue levels:
Maintenance -Portuguese Bend
Transfer In -Portuguese Bend
Maintenance -Abalone Cove
TOTAL REVENUES
$
$
1,100
106,000
5,900
113,000
Section 2:An operating budget for FY12-13 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
Maintenance -Abalone Cove
TOTAL OPERATING EXPENDITURES
$
$
143,400
49,900
193,300
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 3rd day of July 2012.
IA 4-2
AUTHORITY CHAIRPERSON
ATTEST:
AUTHORITY SECRETARY
State of California )
County of Los Angeles )ss
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 2012-was duly
and regularly passed and adopted by the said Joint Powers Improvement Authority at
regular meeting thereof held on July 3,2012.
AUTHORITY SECRETARY
Resolution No.IA 2010-
Page 2 of 2
IA 4-3
IMPROV AUTH PORTUGUESE BEN[
IrvlPROV ALJTH ABALONE COVE
220,198
1,189,226
1,100
5,900
106,000 143,400
49,900
183,898
1,145,226
IA 4-4