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HomeMy WebLinkAbout86-103 - Appropriations LimitRESOLUTION NO. 86 -103 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 1986- 87 IN ACCORDANCE WITH ARTICLE XIII -B OF THE • CALIFORNIA CONSTITUTION AND GOVERNMENT CODE SECTION 7910 WHEREAS, Article XIII -B was added to the California Constitution at the special State -wide election held November 6, 1979; and WHEREAS, Government Code Section 7910 was added to Chapter 12.05 by Statute at the 1979 -1980 Regular Session of the California Legislature; 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 ordain as follows: Section 1: In accordance with Article XIII -B of the California Constitution and Government Code Section 7910, the appropriations limit for fiscal year commencing July 1, 1986 -87 for the City of Newport Beach is $36,368,443.00. The computation of appropriations for the 1986 -87 fiscal year are set forth in detail on the Exhibit "A," attached hereto and incorporated by • reference as though fully set forth herein. -1- Section 2: Said appropriations limit shall be adhered to in the City of Newport Beach budget for the 1986 -87 fiscal • year. ADOPTED this 8th day of December, 1986. -2- EXHIBIT "A" COMPUTATION OF APPROPRIATION FOR 1986 -87 FISCAL YEAR PER ARTICLE XIII -B STATE CONSTITUTION 1. Determination of 1986 -87 Fiscal Year Appropriation Limit Appropriation Limit for 1985 -86 $35,143,115 Adjust the 1984 -85 Appropriation Limit for increase in CPI ($35,143,115 x 2.3% _ $808,292) 808,292 Adjusted Appropriation Limit $35,951,407 Adjust the Adjusted Appropriation Limit for increases in Population ($35,951,407 x 1.16% _ $417,036) $ 417,036 Appropriation Limit for 1986 -87' Budget $36,368,443 2. Determination of 1986 -87 Actual Appropriations Limit Total Governmental Funds Appropriations as Amended $63,359,422 Increase in Reserves 1,229,865 Sub Total $64,589,287 Less: Non - proceeds of taxes $17,775,911 Retirement- Unfunded Liability 1,002,168 Computer lease payment 152,660 Telephone system lease payment 118,018 Internal service funds appropriations 1,337,725 Appropriations from reserves 9.414.761 $29.801.243 Total Actual 1986 -87 Appropriations subject to Limit (as of October 31, 1986) $34,788,044 1986 -87 Appropriation Limit 36,368,443 • Proposition 4 has no effect on the City in 1986 -87 since the actual appropriations limit is less than the appropriations limit as determined by the calculations above. -3-