HomeMy WebLinkAboutAGENDA REPORT 1994 0629 CC ADJ ITEM 09CCity of ,00rparh-
Agenda Report
TO: The Honorable City Council
FROM: Richard Hare, Deputy City Man�`etr
DATE: June 9, 1994 °Y
(CC Mtg. 6/15/94)
SUBJECT: Consider Resolution 94 -_
Establishing the
Appropriation Limit for Fiscal ) ear 1995.
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I
TEM
Staff is requesting Council action to adopt the attached resolution which establishes the Appropriation
Limit for Fiscal Year 1995 in accordance with Article
Code Section 7910 requires that the City establish Ins appropriation lim t annuall tb n. Government
regularly scheduled or noticed special meeting Th s meeting has been it annu l appropriately scheduled and
noticed to comply with this requirement d
The appropriation limit has been calculated relying on the State Department of Finance Info nnation
regarding the growth in population and per capita income. The initial appropriation limit is base
upon the corrected actual revenues for Fiscal Year 1984 of $,400,000. Each year's appropriation
limit has been increased based upon the application ()f Department of Finance growth factor
previous year's appropriation limit. The appropriat, )n limit fi?r s to the
this year is $9,026,828.
Recommendation:
Staff recommends approval of Resolution 94 -_
1995 with the adoption of the Annual Budget establishing the Appropriation Limit for Fiscal Year
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