HomeMy WebLinkAboutReso 120-04 AppropratnLmt03-04
RESOLUTION NO. 120 ~ 04
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
*********
ADOPTING A REVISED APPROPRIATIONS LIMIT
FOR FISCAL YEAR 2003~2004 OF 5105,367,283
WHEREAS, State 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 112~03 establishing an
Appropriations Limit for Fiscal Year 2003-2004; 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, (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 2003~2004 Appropriations Limit used the following discretionary
factors: (1) the change in the City population and (2) the change in the assessed valuation from local non-
residential construction; and the calculation of the revised Appropriations Limit for 2003-2004 is
described in Attachment 2, 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 City of Dublin Revised Appropriations Limit for Fiscal Year 2003-2004 of
$105,367,283.
BE IT FURTHER RESOLVED that the limit has been calculated in accordance with State Law
and is shown in Attachment 2, attached hereto.
PASSED, APPROVED AND ADOPTED this 28th day of June, 2004.
A YES: Councilmembers McCormick, Oravetz, Sbranti and Zika and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
REVISED CALCULATION OF FISCAL YEAR 2003-2004
APPROPRIATIONS LIMIT
(Based On Adopted Fiscal Year 2002-2003 Limit)
A. SELECTION OF OPTIONAL FACTORS
1. Population - City VS. County
(% Decrease)
01/01/2002 01/01/2003 % Increase
City of Dublin 31,295 33,910 8.356%
QB
Alameda County 1 ,482,786 1 ,483,809 0.069%
Selected Factor #1 = City of Dublin Population Growth 8.356%
2. State Income vs. City Non-Residential BuildinQ
Change in State Per Capita Income
Change in Non-Residential Assessed Valuation
= 2.31%
= 5.708%
OR
Selected Factor #2 = Change in Non-Residential Building 5.708%
B. CALCULATION OF GROWTH LIMIT ADJUSTMENT
The formula for calculating the adjustment is as follows:
Selected Factor 1 + 100
100
Selected Factor 2 + 100
100
=
x
;;;
Y
(X) x (Y) = Fiscal Year 2003-2004 Appropriations Limit Adjustment Factor
8.356+100
100
=
1.08356 (Originally was 1.06407)
5.708+100
100
=
1.05708 (Originally was 1.02310)
1.08356 x 1.05708 :::: 1.1454 = 2003-2004 Adjustment Factor (Originally was 1.0887)
C. CALCULATION OF APPROPRIATIONS LIMIT
Fiscal Year 2002-2003 Appropriations Limit =
Fiscal Year 2003-2004 Adjustment Factor
Fiscal Year 2003-2004 Appropriations Limit
(Originally was $100,151,354)
$91,991,691
x 1.1454
$105,367,283
ATTACHMENT 2