HomeMy WebLinkAboutReso 139-03 RvsdApropLmtFY02-03RESOLUTION NO. 139 - 03
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ADOPTING A REVISED APPROPRIATIONS LIMIT
FOR FISCAL YEAR 2002-2003 OF $91,991,691
WHEREAS, State law requires that an Appropriations Limit ("Limit") be adopted by the City
Council in conjunction w/th the Annual Budget process; and
WHEREAS, the City Council previously adopted resolution 112-02 establishing an
Appropriations Limit for Fiscal Year 2002-2003; 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, 03) 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 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 the calculation of the revised Appropriations Limit for 2002-2003 is
described in the Attachment 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 2002-2003 of $91 ,.991,691
BE IT FURTHER RESOLVED that the limit has been calculated in accordance with State Law
and is shown in the Attachment.
PASSED, APPROVED AND ADOPTED this 24th day of June, 2003.
AYES: Councilmembers McCormick, Oravetz, Sbranti and Zika and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:~~ ~._
~,_~ty ~ler~
K2/G/6-24-O3/reso-revisedapprop.doc (Item 8.1)
REVISED CALCULATION OF FISCAL YEAR 2002-2003
APPROPRIATIONS LIMIT
(Based On Adopted Fiscal Year 2001-2002 Limit)
SELECTION OF OPTIONAL FACTORS
1. PopUlation - City vs. County
OR
01/01/2001 01/01/2002
(% Decrease)
% Increase
City of Dublin 30,428 31,295 2.849%
Alameda County 1,474,143 1,482,786 0.586%
OR
State Income vs. City Non-Residential Buildinq
Change in State Per Capita Income
Change in Non-Residential Assessed Valuation
= (1.270%)
= 14.372%
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
2.849+100 = 1.02849 (Originally was 1.10162)
100
14.372+100
100
1.14372 (Originally was 1.1036)
1.02849 x 1.14372 = 1.1763 = 2002-2003 Adjustment Factor (Originally was 1.2157)
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 2001-2002 Appropriations Limit = $ 78,204,277
Fiscal Year 2002-2003 Adjustment Factor x 1.1763
ATTACHMENT 2