HomeMy WebLinkAboutReso 113-02 ApproprLimitFY02-33 RESOLUTION NO. 113 - 02
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ADOPTING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2002-2003 OF $95,072,940
WHEREAS, State law requires that an Appropriations Limit be adopted by the City Council in
conjunction with the Annual Budget process; and
WHEREAS, Article XIII B of the California Constitution places certain restrictions on
appropriations made by cities; and
WHEREAS, the restrictions are applicable to appropriations, which are defined as "Proceeds of
Taxes"; and
WHEREAS, the law allows the option to select the factors to be used in the calculation of the
Appropriations Limit; and
WHEREAS, the City must select between the following factors: (A) the change in City population,
or (B) Countywide population, and either: (1) the change in the State per capita income, or, (2) the change
in the assessed valuation of local non-residential construction; and
WHEREAS, the 2002-2003 Appropriations Limit used the following discretionary factors: (1) the
Growth in the City Population and (2) the change in the assessed valuation of local non-residential
construction; and
WHEREAS, the calculation of the Appropriations Limit for 2002-2003 is described in Attachment
A, attached hereto and bY reference made a part hereof.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby adopt the City of Dublin Appropriations Limit for Fiscal Year 2002-2003 of $95,072,940.
BE IT FURTHER RESOLVED that the limit has been calculated in accordance with State Law
as shown in the attached Exhibit.
PASSED, APPROVED AND ADOPTED this 24th day of June, 2002.
AYES: Councilmembers McCormick, Oravetz, Sbranti and Zika and Mayor Lockhart
NOES: None
ABSENT: None
ATTEST: None
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K2/G/6-24/02/reso-app op~2-03.doc (Item 8.2)
CALCULATION OF FISCAL YEAR 2002-2003
APPROPRIATIONS LIMIT
(Based On Revised Fiscal year 2001-02 Limit)
A. SELECTION OF OPTIONAL FACTORS
1. Population - City vs. County
(% Decrease)
1/1/01 1/1/02 % Increase
City of Dublin 30,428 33,520 10.162%
OR
Alameda County 1,474,143 1,486,618 .846%
2. State Income vs. City Non-Residential Buildinq
Change in State Per Capita Income = -1.27%
OR
Change in Non-Residential Assessed Valuation = 10.36%*
l Based onpreliminary tax roll information available from the Alameda County Assessor
ay 6, 2002. The final tax roll figure may be different. )
B. CALCULATION OF GROWTH LIMIT ADJUSTMENT
The formula for calculating the adjustment is as follows:
Selected Factor 1 + 100 = X
100
Selected Factor 2 + 100 = Y
100
(X) x (Y) = Fiscal Year 2002-2003 Appropriations Limit Adjustment Factor
10.162+100 = 1.10162
100
10.36+100 = 1.1036
100
1.10162 x 1.1036 = 1.2157 = 2002-2003 Adjustment Factor
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 2001-2002 Revised Appropriations Limit = $ 78,204,277
Fiscal Year 2002-2003 Adjustment Factor x 1.2157