HomeMy WebLinkAboutReso 140-03 AppropLimitsFY03-04 RESOLUTION NO. 140- 03
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ADOPTING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2003-2004 OF $100,151,354
WHEREAS, State law requires that an Appropriations Limit be adopted by the City Council in
conjunction with the Annual Budget process; and
WHEREAS, Article XIII B of the California C0nstituti0n places certain restrictions on
appropriations made by cities; and
WHEREAS, the restrictions are applicable to appropriations, which are defined as "Proceeds of
Taxes"; 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 2003-2004 Appropriations Limit used the following discretionary factors: (1) the
Growth in the City PoPulation and (2) the Change in State per capita income; and
WHEREAS, the calculation of the Appropriations Limit for 2003-2004 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 Appropriations Limit for Fiscal Year 2003-2004 of $100,151,354.
BE IT FURTHER RESOLVED that the limit has been calculated in accordance with State Law
and is shown in 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
K2/G/6_24_03/reso_approplimitO3-04.doc (Item 8.2)
CALCULATION OF FISCAL YEAR 2003-2004
APPROPRIATIONS LIMIT
(Based On Revised Fiscal Year 2002-03 Limit)
Aw
SELECTION OF OPTIONAL FACTORS
1. Population - City vs. County
.OR
City of Dublin
Alameda County
1/1/02 1/1/03
31,295 33,300
1,492,342 1,474,143
(% Decrease)
.% Increase
6.407%
1.235%
OR
State Income vs. City NonResidential Building
Change in State Per Capita Income -2.310%
Change in Non-Residential Assessed Valuation = 1.323%*
l Based onpreliminary tax roll information available from the Alameda County Assessor
ay 5, 2003. The final tax roll figure may be different. )
CALCULATION OF GROVVTH 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 2003-2004 Appropriations Limit Adjustment Factor
6.407+100 = 1.06407
100
2.31+100 = 1.02310
100
1.06407 x 1.02310 = 1.0887 = 2003-2004 Adjustment Factor
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 2002-2003 Revised Appropriations Limit = $ 91,991,691
Fiscal Year 2003-2004 Adjustment Factor x. 1.0887
ATTACHMENT 2