HomeMy WebLinkAboutReso 112-02 ApprpLimitFY01-02 RESOLUTION NO. 112 - 02
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ADOPTING A REVISED APPROPRIATIONS LIMIT
FOR FISCAL YEAR 2001-2002 OF $78,204,277
WHEREAS, State law requires that an Appropriations Limit ("Limit") be adopted by the City
Council in conjunction with the Annual Budget process; and
WHEREAS, the City Council previously adopted Resolution No. 104-01 establishing an
Appropriations Limit for Fiscal Year 2001-2002; and
WHEREAS, at the time the "Limit" was adopted final information related to the population for the
City of Dublin and the amount of "Non-Residential Assessed Valuation", both of which are used in the
calculation of the limit, was unknown; and
WHEREAS, Revised population estimates and assessed valuations are now available; 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 revised 2001-2002 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 the calculation of the revised Appropriations Limit for 2001-2002 is described in
Attachment 2, 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 Revised Appropriations Limit for Fiscal Year 2001-2002 of $78,204,277
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
K2/G/6-24/02/reso-approp-X~l'-02.doc (Item 8.1)
REVISED CALCULATION OF FISCAL YEAR 2001-2002
APPROPRIATIONS LIMIT
(Based On Adopted Fiscal Year 2000-2001 Limit)
A. SELECTION OF OPTIONAL FACTORS
1. Population - City vs. County
(% Decrease)
01/01/2000 01/01/2001 % Increase
City of Dublin .27,230 30,428 11.744%
OR
Alameda County 1,450,637 1,474,143 1.620%
2. State Income vs. City Non-Residential Buildinq
Change in State Per Capita Income = 7.820%
OR
Change in Non-Residential Assessed Valuation = 15.31%
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 2001-2002 Appropriations Limit Adjustment Factor
11.744+100 = 1.11744 (No change from original calculation)
100
15.31+100 = 1.1531 (Originally was 1.10242)
lO0
1.11744 x 1.1531 = 1.2885 = 2001-2002 Adjustment Factor (Originally was 1.2319)
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 2000-2001 Appropriations Limit = $ 60,694,045
Fiscal Year 2001-2002 Adjustment Factor x 1.2885