RESOLUTION PFA 2022-
A RESOLUTION OF THE CITY OF MERCED
PUBLIC FINANCING AND ECONOMIC
DEVELOPMENT AUTHORITY ADOPTING
THE BUDGET AND APPROPRIATING
REVENUE FOR FISCAL YEAR 2022-2023
WHEREAS, The City of Merced Public Financing and Economic Development Authority ("Authority") has determined it is necessary to expends funds to carry out its purposes and that a budget therefore is necessary and desirable; and,
WHEREAS, The Authority has determined that planning and administrative expenses are necessary for the successful operation of the Authority; and,
NOW, THEREFORE, THE CITY OF MERCED PUBLIC
FINANCING AND ECONOMIC DEVELOPMENT AUTHORITY DOES
HEREBY FIND, DETERMINE, ORDER AND RESOLVE AS FOLLOWS:
SECTION 1. It is necessary to charge planning and administrative services to the Authority and that the administrative expenses budgeted for Fiscal Year 2022-2023 are reasonable and proper.
SECTION 2. The 2022-2023 Budget, as submitted by the Executive Director and as considered by the Authority, is hereby approved and adopted in the amounts set forth in the schedules and summaries of said budget document and allocations are hereby approved for the purposes herein stated.
SECTION 3. The Executive Director or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of services.
SECTION 4. The recommended ending balance for June 30, 2023, shown in the proposed annual Financial Summary section is an estimate, and X:IResolutions|2022\PFEDA|Budget PFEDA Adoption FY 2022-23.docx 1 ATTEST:
STEPHANIE R. DIETZ, AUTHORITY SECRETARY
BY:
Assistant/Deputy Authority Secretary
(SEAL)
APPROVED AS TO FORM:
5/24/2002
Authority General Counsel Date
X: \Resolutions|2022\PFEDA\Budget PFEDA Adoption FY 2022-23.docx 3