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HomeMy WebLinkAbout2006-46 - Appropriations LimitRESOLUTION NO. 2006- 46 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2006- 07 IN ACCORDANCE WITH ARTICLE XIIIB OF THE CALIFORNIA CONSTITUTION AND GOVERNMENT CODE SECTION 7910. WHEREAS, Article XIIIB was added to the California Constitution at the special State -wide election held November 6, 1979 (commonly known as Proposition 4); and WHEREAS, Government Code Section 7910 was added to Chapter 12.05 by Statute at the Regular Session of the California Legislature; and WHEREAS, Proposition 111, which, among other things, provides new annual adjustment formulas for the Appropriations Limit, was approved by the voters in June, 1990, and WHEREAS, The League of California Cities and the State of California Department of Finance have published population and per capita income growth indexes, as well as guidelines for the uniform application of Proposition 111, and WHEREAS, Government Code Section 7910 requires the governing body of each local jurisdiction to adopt, by resolution, its appropriations limit; and WHEREAS, said appropriations limit must be adhered to in preparing and adopting this City's annual budget. NOW, THEREFORE, the City Council of the City of Newport Beach does hereby resolve as follows: Section 1: In accordance with Article XIIIB of the California Constitution and Government Code Section 7910, the appropriations limit for fiscal year commencing 1 July 2006 for the City of Newport Beach is $125,314,360. The computation of appropriations for the 2006- 07 fiscal year are set forth in detail in the attachment hereto, which is incorporated as though fully set forth herein. Section 2: Said appropriations limit shall be adhered to in the City of Newport Beach budget for the 2006 -07 fiscal year. ADOPTED this 13th day of June, 2006. MAYOR CITY CLERK CITY OF NEWPORT BEACH COMPUTATION OF APPROPRIATION LIMIT FOR FISCAL YEAR ENDING 30 JUNE 20079 AS PER ARTICLE XIIIB, CALIFORNIA STATE CONSTITUTION PRIOR YEAR INFLATION POPULATION FISCAL YEAR LIMIT ADJUST. (1) ADJUST. (2) 2006 -07 $119,548,685 0.0396 0.0083 note (1): Based on California per capita income increases note (2): Based on Orange County population growth NEW APPROP. LIMIT $125,314,360 CALCULATION OF ESTIMATED PROCEEDS OF TAXES FOR FISCAL YEAR ENDING 30 JUNE 2007 Total Estimated Proceeds of Taxes $104,528,578 Less Authorized Exclusions Net Proceeds of Taxes note (3) $0 $104,528,578 note (3): Since 2006 -07 estimated gross proceeds were substantially less than appropriations limit, exclusions were not calculated. AMOUNT UNDER APPROPRIATIONS LIMIT $20,785,782 STATE OF CALIFORNIA } COUNTY OF ORANGE CITY OF NEWPORT BEACH } I, LaVonne M. Harkless, City Clerk of the City of Newport Beach, California, do hereby certify that the whole number of members of the City Council is seven; that the foregoing resolution, being Resolution No. 2006 -46 was duly and regularly introduced before and adopted by the City Council of said City at a regular meeting of said Council, duly and regularly held on the 13th day of June 2006, and that the same was so passed and adopted by the following vote, to wit: Ayes: Selich, Rosansky, Ridgeway, Daigle, Nichols, Mayor Webb Noes: None Absent: Curry Abstain: None IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of said City this 14th day of June 2006. (Seal) City Clerk Newport Beach, California