HomeMy WebLinkAbout2019-06-18; Public Financing Authority; Resolution 79RESOLUTION NO. 79
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD PUBLIC
FINANCING AUTHORITY ADOPTING THE OPERATING BUDGET OF THE
CROSSINGS AT CARLSBAD MUNICIPAL GOLF COURSE FOR FISCAL YEAR
2019-20.
EXHIBIT 6
WHEREAS, the Board of Directors of the Carlsbad Public Financing Authority has
reviewed the proposed final Operating Budget and Capital Improvement Program for Fiscal Year 2019-
20;and
WHEREAS, public hearings have been held as necessary prior to the adoption of the final
budgets.
NOW, THEREFORE, BE IT RESOLVED by the Public Financing Authority Board of the City
of Carlsbad, California as follows:
1. That the above recitations are true and correct.
2. That certain documents now on file in the office of the Carlsbad City Clerk
entitled "City of Carlsbad, FY 2019-20 Preliminary Operating Budget and FY 2019-20 to 2033-34 Capital
Improvement Program -Preliminary," as amended, if necessary, in accordance with Exhibit 6A
attached hereto and incorporated by reference herein, is hereby adopted as the Operating and Capital
Improvement Budgets for the Crossings at Carlsbad Municipal Golf Course for FY 2019-20, along with
any Program Options and/or adjustments, if any, determined by the Board of Directors as set forth in
the minutes of the Board of Director's meeting of Tuesday, June 18, 2019.
3. That the amounts reflected as estimated revenues for FY 2019-20 are hereby
adopted as the budgeted revenues for FY 2019-20.
4. That the amount designated as FY 2019-20 Budget request in Exhibit 6A is hereby
appropriated to the fund for which it is designated, and such appropriation shall not be increased
except as provided herein.
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5. That the following controls are hereby placed on the use and transfers of budget
funds:
A. No expenditure of funds shall be authorized unless sufficient funds have
been appropriated by the Board of Directors or designee, as described below.
i. The City Manager, as Executive Director of the Carlsbad Public Financing
Authority, may authorize all transfers of funds from account to account within the same fund in an
amount up to $100,000 per transfer.
ii. The City Manager, as Executive Director of the Carlsbad Public Financing
Authority, may delegate the authority to make budget transfers and adjustments.
iii. The City Manager, as Executive Director of the Carlsbad Public Financing
Authority, may authorize budget adjustments involving offsetting revenues and expenditures; the City
Manager, as Executive Director of the Carlsbad Public Financing Authority, is authorized to increase an
appropriation for a specific purpose where said appropriation is offset by unbudgeted revenue which
is designated for said specific purpose.
6. That all outstanding encumbrances as of June 30, 2019, are hereby continued
into FY 2019-20 for such contracts and obligations.
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June 18, 2019 Item #5 Page 96 of 197
PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the Carlsbad City
Council, Carlsbad Municipal Water District Board of Directors, Carlsbad Public Financing Authority
Board of Directors, Community Development Commission, and City of Carlsbad as Successor Agency to
the Redevelopment Agency, held on the 18th day of June, 2019, by the following vote to wit:
AYES: Blackburn, Bhat-Patel, Schumacher, Hamilton.
NAYS: Hall.
ABSENT: None.
ATTEST:
(SEAL)
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