HomeMy WebLinkAboutReso 072-95 AppropriationFY95-6: RESOLUTION NO. 72 - 95
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ADOPTING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 1995/96 INCLUDING AN
ADJUSTMENT TO THE 1994/95 ADOPTED BASE
WHEREAS, State Law requires that the Appropriations Limit be adopted and presented with the
Annual Budget; and
WHEREAS, The Alameda County Assessor could not provide accurate information regarding the
change in non-residential assessed valuation at the time the 1994/95 City Budget was presented; and
WHEREAS, The City Council previously adopted Resolution 53-94, which anticipated a potential
Appropriations Limit revision in the event non-residential valuation escalated at a higher rate than the change in
per capita income; and
WHEREAS, The Assessors 1994/95 records have now been updated to provide complete information
on non-residential assessed valuation; and
WHEREAS, the law allows the City the option to select from specified factors those to be used in the
calculation; and
WHEREAS, The City Council previously adopted a 1994-95 Appropriations Limit in Resolution 53-94
using (1) the Growth in the City Population and (2) the change in the State per capita income; and
WHEREAS, the revised 1994-95 Appropriations Limit is calculated by selecting (1) the Growth in the
City Population and (2) the change in non-residential assessed valuation; and
WHEREAS, the revised calculation of the 1994/95 Revised Appropriation Limit is described in
Exhibit A, attached hereto and by reference made a part hereof; and
WHEREAS, the proposed 1995/96 Limit is calculated based upon an adjustment to the 1994/95
Revised Appropriations Limit; and
WHEREAS, the factors selected for calculation of the 1995/96 Appropriations are (1) Growth in the
County Population and (2) change in the State per capita income; and
WHEREAS, the calculation of the 1995/96 Appropriations Limit is described in Exhibit B, attached
hereto and by reference made a part hereo.f.
NOW, THEREFORE, BE IT RESOLVED THAT THE City Council of the City of Dublin does hereby
adopt an adjustment to the 1994/95 Appropriations Limit and a Limit for 1995/96 as shown in Exhibits A and
B.
PASSED, APPROVED AND ADOPTED this 281h day of June, 1995.
AYES:
NOES:
ABSENT:
Councilmembers Barnes, Burton Howard)of~~yor Houston
, , ~
None ~
None
Mayor
g:\agenda\resos\safety.doc
REVISED CALCULATION OF FISCAL YEAR 1994-95
(Presented at a Public Hearing 6/28/95)
SELECTION OF OPTIONAL FACTORS
I. Population - City vs. County
1/1/93 1/I/94
City of Dublin 24,658 24,947
OR
Alameda County 1,321,342 1,334,127
Selected Factor = City Population Growth 1.17%
II. State Income vs. City Non-Residential Building
O__gR
Change in State Per Capita Income = 0.71%
Change in Non-Residential Assesed Valuation = 7.873%
(Complete information not available from Alameda County)
Selected Factor - State Per Capita Income - 0.71%
Change in Non-Residential Assessed Valuation = 7.873%
CALCULATION OF GROWTH LIMIT ADJUSTMENT
The formula for calculating the adjustment is as follows:
Selected Factor I + 100 = X
100
Selected Factor II + 100 = Y
100
(X) x (Y) = Fiscal Year 1994-95 Appropriations Limit Adjustment Factor
1.17 + 100 = 1.01170
100
7.783 1.07873
n ~ + 100 = ,
100
1.01170 x 1.0710 - 1.01888 - Fiscal Year 1994 95 Adjustment Factor
1.01170 x 1.07873 = 1.09135 = Revised 1994/95 Adjustment Factor
CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 1993-94 Adjusted Appropriations Limit = $ 20,468,888
Fiscal Year 1994-95 Revised Adjustment Factor x 1.09135
Revised Fiscal Year 1994-95 Limit
$ 22,338,721
a:PSR/lss a:AppExA95 .agenda# 15
Decrease
% Increase
1.17%
.97%
EXHIBIT A
CALCULATION OF FISCAL YEAR 1995-96
APPROPRIATIONS LIMIT
SELECTION OF OPTIONAL FACTORS
#1.
Population - City vs. County
1/1/94 1/1/95 % Increase
City of Dublin 24,924 25,145 .89%
OR
Alameda County 1,332,779 1,349,763 1.27%
Selected Fa~tor #t = County Population Growth +1.27%
#2. State Income vs. City Non-Residential Building
OR
Change in State Per Capita Income = 4.72%
Change in Non-Residential Assessed Valuation = 3.30%*
(Complete information not available from Alameda County Assessor. The calculation was based on
Assessed Value information as of April 12, 1995)
Selected Factor # 2 = State Per Capita Income = +4.72%
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 1995-96 Appropriations Limit Adjustment Factor
1.27 + 100 = 1.0127
100
4.72+ 100 = 1.0472
100
1.0127 x 1.0472 -- 1.0605 = Fiscal Year 1995-96 Adjustment Factor
CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 1994-95 Adjusted Appropriations Limit = $ 22,338,721
Fiscal Year 1994-95 Revised Adjustment Factor x 1.0605
Revised Fiscal Year 1995-96 Limit $ 23,690.214
EXHIBIT B