HomeMy WebLinkAboutReso 095-98 RevApprpLimit97-98 RESOLUTION NO. 95 - 98
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ADOPTING A REVISED APPROPRIATIONS LIMIT
FOR FISCAL YEAR 1997/98 OF $43,075,087
Wlt'EREAS, Stat~ 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. 86-97 establishing an Appropriations
Limit for Fiscal Year 1997-98; and
WHEREAS, at the time the "Limit" was adopted certain'information related to the amount of'2qon-
Residential Assessed Valuation" was unknown; and
WItEREAS, the lack of County Assessor information precluded the City from selecting the optional
factor of Assessed Valuation; and
WHEREAS, Assessed Valuation information and revised population estimates are now available; and
WHEREAS, the law allows the option to select the factors to be used in the calculation of the "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 1997-98 Appropriations Limit uses the: (1) the Growth in the City Population
and (2) the change in the assessed valuation of local non-residential construction as shown in Exhibit A;
and
WHEREAS, this represents a change from the "Limit" calculated in Resolution 86-97 which utilized the
change in State per capita income.
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 1997-98 of $43,075,087, as shown
in Exhibit A.
PASSED, APPROVED AND ADOPTED this 29th day of June, 1998.
AYES:
NOES: None
ABSENT: Councilmember Howard
ABSTAIN: None
Councilmembers Barnes, Burton, Lockhart and Mayor Houston
Mayor
CALCULATION OF REVISED FISCAL YEAR 1997-98
APPROPRIATIONS LIMIT
A. SELECTION OF OPTIONAL FACTORS
Population - City vs. County
(% Decrease)
1/1/96 111197 % Increase
25,544 2.246%
City of Dublin 24,983 ~ ~
OR 1,371,793 2.175%
.Alameda County 1,342,598 ~366r938 1.738%
FACTOR #1 REVISED BASED ON State of California Population Report - California Dept. of Finance
1/196 Figures As Issued May 1, 1997:111197 Eigu[es As !ss.u..ed' M..ay !, 1998
... '. · Selected FactOr #1 .=. City.Of. Dublin Population GrOwth -1~ '. Z246%
2. State Income vs. City Non-Residential Building
Change in State Per Capita Income = 4.67%
Change. in Non-Residential Assessed Valuation = ~, --.- t ~.~,,, ,~'"~a ~,,,.._,,_w,_ ,.~, ,_' .... 1997)*
*(Based on Fiscal Year 1997-98 final tax roll information available from the Alameda
County Assessor May 15,1998, the change for the City of Dublin was 9.104%. )
Selected Factor #2.,, Change in Non,Residential Assessed .Valuation -- 9.104%
B. CALCULATION OF GROWTH LIMIT ADJUSTMENT
The formula for calculating the adjustment is as follows:
Selected Factor I + 100 = X
100
Selected Factor 2 + 100 = Y
100
(X)x(Y)= FiscalYear1997-98 Appropriations LimitAdjustmentFactor
2.246 1.02246
1.8d9+100 = -1~4849
100
9.104 1.09104
4~>7-+100 = M0467--0
100
1.02246 x 1.09104 = 1.1155 = Revised 1997198 Adjustment Factor
1.018d9 .v. !.0d~70 - 1.!0S61 = 1997/98 Adjustment Factor
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 1996-97 Adopted Appropriations Limit =
Fiscal Year 1997-98 Adjustment Factor x
$ 38,615,049
1.0~! 1.1155