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Home My Public Portal About09-16-1997LII_sp~, -AGENDA ITEMS FOR CONSLDERATION AT THE SPECIAL MEETING OF THE LYNWOOD INFORMATION, INC. ' TO BE HELD ON SEPTEMBER 16, 1997 - _ _ 7:30 P.M. COUNCIL CHAMBERS CITY HALL -, . ~ . RECEIVED OPENING CEREMONIES ctiv ot= tYNwoo~ CITY CLERKS OF~tCE - 1. CALL TO ORDER SEA 1 1 1991 2. ROLL CALL ~ ~ ~ 7~8~9i~~ui~~li2i3i4i5i6 Louis Byrd /~,!. ~ ~-(:~l.~,r ~, ~, ~- ~ -~ ~~ ~ ,. ,,. Robert Henning ~ `'~ %% ;- Armando Rea ~ _. " ~ Paul Richards 3. CERTIFICATION OF AGENDA POSTING BY CITY CLERK PUBLIC ORAL COMMUNICATIONS (Regarding Agenda Items Only) SCHEDULED MATTERS PUBLIC HEARING 4. F.Y. 1997-98 ANNUAL OPERATING BUDGET Comments: Thee purpose of this item is to have the Agency Chairman and Board Members adopt resolution approving Lynwood Information, Inc. Annual Operating Budget for F.Y. 1997-98. Recommendation: Staff respectfully recommends that the Agency Chairman and Board Members adopt the attached Resolution adopting the annual operating budget for F.Y. 1.997-98. CONSENT CALENDAR 5. MINUTES OF PREVIOUS MEETING Regular. scheduled meeting of September. 2, 1997 ADJOURNMENT MOTION TO ADJOURN. TO A REGULAR MEETING TO BE HELD ON OCTOBER 7, 1997 AT 7:30 P.M., IN THE CITY HALL, COUNCIL CHAMBERS, CITY OF LYNw00D, CALIFORNIA. ., ~~ ~: • • DATE: September 16, 1997 TO: The Honorable Chairman and Members of/the Board FROM:. Faustin Gonzales, Executive Director `~ ~ `,i BY: Alfretta F. Earnest Asst. Ci Mana er/Director of Finance ~` tY S Lam. SUBJECT: F:Y. 1997-98 Annual Operating Budget PURPOSE: The purpose of this item is to have the Agency Chairman .and Boazd Members adopt the attached resolution approving Lynwood Information, Inc. Annual Operating Budget for F.Y. 1997-98. BACKGROUND: Lynwood Information, Inc. (LII) is anon-profit organization formed in April 1981 for the purpose of educating and providing public access media to residents relative to activities .and events occurring in the City of Lynwood. .. The Operating Budget is prepazed annually to account for: a) Various revenue sources received for media services rendered to other agencies and the public. b) Media services expenses (i.e. monthly newsletter, cable programming, production ` `services, community promotions, etc.). Budget Workshops were held in June, July,. and August to discuss the Agency's resources. and the allocation of these resources. A copy of the Agency's Annual Operating Budget has been made available for public review in the City Clerk's Office. . ANALYSIS: Lynwood Information, Inc. F.Y. 1997-98 Annual .Operating Budget reflects a balanced budget whereby it's primary funding source is derived from the -City of Lynwood contributions. It provides for an allocation of $124,550 in expenditures and projects ..$124,050 in revenue. 4 RECOMMENDATION: Staff respectfully recommends. that the Agency Chairman and Board Members adopt the attached resolution entitled; "A RESOLUTION OF THE LYNWOOD INFORMATION, INC. OF THE CITY OF LYNWOOD ADOPTING THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 1997-98". i ~Cle!(D~ IT1i11 j LYNWOOD INFORMATION, INC. . FUND. BALANCE ANALYSIS F.Y. 1997-98 ADOPTED. YEAR-END . ACTUAL BUDGET ESTIMATE BUDGET FY 95/96 FY 96/97 FY 96/97 FY 97/98 BEGINNING FUND BALANCE 14,149 21,035 21,035 ~ 500 ESTIMATED REVENUES 108,124 138,450 126,700 124,050 _ ESTIMATED EXPENDITURES - 101,238 143,450 147,235 124,550 ENDING FUND BALANCE 21,035. 16,035 500 0 RESOLUTION NO. A RESOLUTION OF THE LYNWOOD INFORMATION, INC. OF THE CITY OF LYNWOOD ADOPTING THE ANNUAL OPERATING BUDGET FOR FISCAL YEAR 1997-98 WHEREAS, the City Manager has submitted a Proposed Annual Operating Budget for the Fiscal Year 1997-98; and . WHEREAS, the Board of Directors have reviewed the Proposed Budget and held public hearings; and WHEREAS, the Proposed Budget was made available for Public review in the City Clerk's Office. NOW THEREFORE, the Board of Directors of Lynwood Information Incorporated, do hereby find, order, and resolve as follows: Section 1. The Annual Operating Budget for the Fiscal Year 1.997-98 is hereby approved. Section 2. The City Manager, or his designee is hereby .authorized to approve any transfer between accounts, provided that: 1) They are within the same general group of accounts. 2) They do not exceed $10,000.00 per transfer. Section 3. This resolution shall go into effect immediately upon its adoption. PASSED, APPROVED AND ADOPTED this 16`h day of September, 1997. ATTEST: ANDREA L. HOOPER, Secretary APPROVED AS TO FORM: City Attorney PAUL H. RICHARDS, II, CHAIRMAN Lynwood Information Inc. APPROVED AS TO CONTENT: Faustin Gonzales, Executive Director Alfretta F. Earnest, Asst. City Manager/ Director of Finance . v", - - . af' ~' . LYNWOOD INFORMATION, INC., SEPTEMBER 2, 1997 The Information, Inc., of the City of .Lynwood met in a Regular Session in the City Hall,. 11330 Bullis Road, on the above date at 8:03 p.m. Chairman Richards presiding. Director Byrd, Rea and Richards answered the roll call. Director Henning was absent. Also present were City Manager Gonzales, City Attorney Rudell, City Clerk Hooper and City Treasurer Pygatt. It was moved by Director Byrd, seconded by Director Rea and carried to excuse Director Henning. City, Clerk Hooper announced the Agenda had been duly posted in accordance with The Brown Act. PUBLIC ORAL COMMUNICATIONS -AGENDA ITEMS ONLY None... SCHEDULED MATTERS It was moved by Director Rea, seconded by Director Byrd and carried to approve the following minutes: a) Regular Meeting, September 2, 1997 It was then moved by Director Rea, seconded by Director Byrd and carried to adopt: LII -RESOLUTION NO. 97-8 ENTITLED: "A RESOLUTION OF THE LYNWOOD INFORMATION INC., LYNWOOD, CALIFORNIA, ALLOWING AND ..APPROVING THE DEMANDS AND ORDERING WARRANTS THEREOF" ROLL CALL: AYES: DIRECTOR BYRD, REA, RICHARDS NOES: NONE ABSENT: DIRECTOR HENNING Hearing no further discussion, it was moved by Director Rea, seconded by Director Byrd and carried to adjourn at 8:04 p.m. CHAIRMAN PAUL H. RICHARDS, II CITY CLERK ANDREA L. HOOFER ~~ .__----