HomeMy WebLinkAbout88-126 - Appropriations Limit for Fiscal Year 1988-89RESOLUTION NO. ;68 -126
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH DETERMINING AND ESTABLISHING AN
APPROPRIATIONS LIMIT FOR FISCAL YEAR 1988 -89 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 resolve 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, 1988 for
the City of Newport
Beach is
$40,853,179.
The
computation of
appropriations for the
1988 -89
fiscal year are
set
forth in detail
on the Exhibit "A," attached hereto and incorporated by reference
as though fully set forth herein.
Section 2: Said appropriations limit shall be adhered
to in the City of Newport Beach budget for the 1988 -89 fiscal
year.
ADOPTED this 12th day of December, 1988.
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•ATTEST: Mayor
EXHIBIT "A"
Appropriations subject to limit - 1978 -79 - base year $21,392,459
Permitted growth rate in appropriations (Exhibit B) x 1.9097
Appropriation subject to limit for the fiscal year ended
June 30, 1989 $40,853,179
Estimated Proceeds of Taxes 1988 -89 (Exhibit C) 39,313,651
Amount Under Appropriation Limit S 1.539,528
EXHIBIT "B"
Calculation of Permitted Growth Rate in Appropriations
for the Fiscal Year Ending June 30, 1989.
Factor 1988 -89:
U. S. Consumer Price Index 3.93 %: Converted to a factor 1.0393
Population Growth 2.59 %: Converted to a factor 1.0259
Rates of change: 1.0393 x 1.0259 = 1.0662
Multiplied by 1987 -88 Index x 1.7911
Combined Index 1979 -80 through 1988 -89 1.9097
EXHIBIT
CALCULATION OF ESTIMATED PROCEEDS OF TAXES
FISCAL YEAR ENDING JUNE 30, 1989
Total City Estimated Proceeds of Taxes
Less: Mandated Costs
Computer Lease Payment
Telephone System Lease Payment
Estimated 1988 -89 Proceeds of Taxes
*Page 15/1988 -89 Approved Budget Document
$40,021,160*
$ 405,345
184,146
118,018 707,509
$39.313,651