HomeMy WebLinkAboutReso 052-94 AppropriaRev93-4RESOLUTION NO. 52 - 94
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ADOPTING A REVISED APPROPRIATIONS LIMIT FOR FISCAL YEAR 1992/93 AND FISCAL
YEAR 1993/94 TO ACCOUNT FOR REVISED ASSESSOR INFORMATION ON THE CHANGE IN NON
RESIDENTIAL ASSESSED VALUATION
WHEREAS, the law also allows for revisions to the Appropriations Limit
to be adopted by the City Council; and
WHEREAS, In June of 1990, the voters of California adopted Proposition
111, which revised the formula for calculating the Appropriations Limit; and
WHEREAS, Proposition 111 allowed the calculation of the Appropriations
Limit adjusted by the change in 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 Alameda County Assessor needed time to develop a system
for reporting the change in non-residential assessed valuation; and
WHEREAS, The Assessors records are now capable of providing historical
information on this factor; and
WHEREAS, The City Council previously adopted a 1992-93 and a 1993-94
Appropriations Limit using preliminary Assessor Data; and
WHEREAS, for auditing purposes and consistency it is important to have
an adopted Approprations Limit based upon the revised Assessor Data; and
WHEREAS, The revised 1992-93 and Revised 1993-94 Appropriations Limits
were calculated using the Growth in the City Population and the Change in
non-residential assessed valuation; and
WHEREAS, The calculation and restatement of the Appropriation Limits are
described in Exhibits A (1992-93) and Exhibit B (1993-94), 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 Revised Appropriations Limits For Fiscal Year
1992-1993 and 1993-94 as described in Exhibits A and B.
PASSED, APPROVED AND ADOPTED this 21st day of June, 1994.
AYES:Mayor Snyder, and Councilmembers Burton, Houston, Howard and
Moffatt
NOES:None ~~ _
Ae
Ce
RESTATEMENT OF FISCAL YEAR 1992-93 APPROPRIATIONS LIMIT
SELECTION OF OPTIONAL FACTORS
I. PoDulation - City vs. County
II.
City of Dublin
Alameda County
% Decrease
1/1/91 1/1/92 % Increase
22,382 24,020 7.32%
1,280,875 1,301,156 1.58%
Selected Factor = City Population Growth + 7.32%
State Income vs. City Non-Residential Buildin~
Change in State Per Capital Income = (0.64%)
Change in Non-Residential Assessed Valuation = +0.6261%
Selected Factor = Non-Residential Assessed Valuation = 0.6261%
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 1992-93 Appropriations Limit Adjustment Factor
7.32 + 100 = 1.07320
100
.6261 + 100 = 1.00626
100
1.07320 x 1.00626 = 1.07992 = Fiscal Year 1992-93 Adjustment Factor
CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 1991-92 Adjusted Appropriations Limit = $ 17,644,667
Fiscal Year 1992-93 Adjustment Factor x 1.07992
Adjusted Fiscal Year 1992-93 Limit $ 19,054,829
EXHIBIT A
Ae
.RESTATEMENT OF FISCAL YEAR 1993-94 APPROPRIATIONS LIMIT
SELECTION OF OPTIONAL FACTORS
I. PoDulation - City vs. County
City of Dublin
Alameda County
% Decrease
1/1/92 1/1/93 % Increase
24,140 24,704 2.34%
1,304,267 1,324,430 1.55%
Selected Factor = City Population Growth + 2.34%
II. State Income vs. City Non-Residential BuildinQ
Change in State Per Capital Income = 2.72%
Change in Non-Residential Assessed Valuation = 4.965%
Selected Factor = Non-Residential Assessed Valuation = 4.965%
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 1993-94 Appropriations Limit Adjustment Factor
2.34 + 100 = 1. 02340
100
4. 965 + 100 = 1. 04965
100
1.02340 x 1.04965 = 1.07421 = Fiscal Year 1993-94 Adjustment Factor
CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 1992-93 Adjusted Appropriations Limit = $ 19,054,829
Fiscal Year 1993-94 Adjustment Factor x 1.07421
Adjusted Fiscal Year 1993-94 Limit $ 20,468,888
EXHIBIT B