HomeMy WebLinkAboutRESO 9426RESOLUTION N0.9426
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO DETERMINING
THE CALCULATION OF THE APPROPRIATIONS LIMIT FOR FISCAL YEAR
2015
WHEREAS, under Article XIIIB of the Constitution of the State
of California, the City of Palo Alto (City) may not appropriate any
proceeds of taxes in excess of its appropriations limit (Limit) ;
and
WHEREAS, since fiscal year 1991, tpe City is permitted to
annually adjust its Limit in accordance with inflation and
population adjustment factors; and
WHEREAS, pursuant to Government Code Section 37200, the
calculation of the Limit and the total appropriations subject to
the limit were set forth in the annual budget of the City for
Fiscal Year 2014, which was adopted by ordinance of the Council on
June 10, 2013; and
WHEREAS, pursuant to Government Code sections 7901 and 7910,
the final calculation of the Limit has been determined, and the
adjustment factors on which the calculation is based are a -0.23%
percent change in California per capita income and a 1.50% percent
change in the population growth for Santa Clara County; and
WHEREAS, the documentation used in the determination of the
Limit has been made available to the general public for fifteen
(15) days prior to the date of adoption of this resolution; and
WHEREAS,
appropriations
million.
according to the final
subject to limitation
calculation, the
are approximately
City's
$83.05
NOW, THEREFORE, the Council of the City of Palo Alto does
RESOLVE as follows:
SECTION 1. The Council of the City of Palo Alto hereby
finds that, for Fiscal Year 2015, the final calculation of the
Appropriations Limit of the City of Palo Alto has been determined
in accordance with the adjustment factors referred to above, the
1
documentation used in the determination of the calculation has been
made available to the general public for the period of fifteen days
as required by law, and the City's appropriations subject to
limitation are under the Limit by approximately $52.12 million.
SECTION 2. The Council hereby adopts the final calculation
of the Appropriations Limit of the City for Fiscal Year 2015, a
copy of which is attached hereto as Exhibit A.
SECTION 3. The Council finds that the adoption of this
resolution does not constitute a project under the California
Environmental Quality Act, and, therefore, no environmental
assessment is necessary.
INTRODUCED AND PASSED: June 16, 2014
AYES:
NOES:
ABSENT:
BERMAN, BURT, HOLMAN, KLEIN, KNISS, PRICE, SCHARFF,
SCHMID, SHEPHERD
ABSTENTIONS:
APPROVED:
~~
ttorney
2
APPROPRIATIONS LIMITATION COMPLIANCE CALCULATION
FOR FV 2015 PROPOSED BUDGET
($ IN MILLIONS)
Combined General Capital Debt Special
Funds Fund Projects Service Revenue
Total Budgeted Appropriations
FY 2015 Adopted Budget($ millions) 159.30
Less: Debt Service Transactions 4.92
Capital Outlay 25.18
Non-Proceeds of Taxes 46.15
I Net Adopted Appropriations Subject to Limit 83.05
FY 2015 Appropriations Limit $135.17
Under Limit By $52.12
Computation of Appropriation Limit:
FY 2014 Appropriations Limit: $133,476,711
FY 2015 Santa Clara County
Population Change (estimated)
2014-2015 Per Capita Income Change (estimated)
(1.0150) X {0.9977) X $133,476,711 =
1.50%
-0.23%
$135,167,260
125.44
42.50
82.941
25.18 4.92
25.18
o.ooj 4.921
CITY OF
PALO
ALTO
3.76
3.65
0.101
The City of Palo Alto remains well within its appropriations limit in FY 2015. Future year limit trends can be made based
on the average change in regional population and income growth. The appropriations subject to limitation includes
proceeds of taxes from the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Improvement Funds. The
following is a summary of estimated limits and estimated appropriations subject to the limit.
Historical Appropriations
FY 2011 FY2012 FY 2013 FY2014 FY 2015
Appropriations Subject to the Limit 78.94 89.00 96.73 88.76 83.05
Appropriations Limit 115.06 119.00 125.01 133.48 135.17
Under Limit By 36.12 30.00 28.28 44.72 52.12
Projected Appropriations
FY 2016 FY2017 FY2018 FY2019 FY 2020
Estimated Appropriations Subject to Limit 85.86 88.77 91.78 94.89 98.10
Estimated Appropriations Limit 139.75 144.48 149.38 154.45 159.68
Under Limit By 53.89 55.71 57.60 59.56 61.58