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HomeMy WebLinkAbout89-116 - Appropriations Limit - Gann Limit• RESOLUTION NO. 89 -116 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FECAL YEAR 1989 -90 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, 1989 for the City of Newport Beach is $43,120,780. The computation of appropriations for the 1989 -90 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 1989 -90 fiscal year. ADOPTED this 9th day of October, 1989. • Mayor ATTEST: ,6;.� City Clerk EXHIBIT "A" Appropriations subject to limit - 1978 -79 - base year $21,392,459 Permitted growth rate in appropriations (Exhibit B) x 2.0157 Appropriation subject to limit for the fiscal year ended •June 30, 1989 $43,120,780 Estimated Proceeds of Taxes 1988 -89 (Exhibit C) 42.149.736 Amount Under Appropriation Limit $ 971.044 EXHIBIT "B," Calculation of Permitted Growth Rate in Appropriations for the Fiscal Year Ending June 30, 1991). Factor 1989 -90: U. S. Consumer Price Index 4.98Yo: Converted to a factor 1.0498 Population Growth .54%: Converted to a factor 1.0054 Rates of change: 1.0498 x 1.0054 = 1.0555 Multiplied by 1988 -89 Index x 1.9097 Combined Index 1979 -80 through 1989 -90 2.0157 EXHIBIT "C" CALCULATION OF ESTIMATED PROCEEDS OF TAXES FISCAL YEAR ENDING JUNE 30, 1990 Total City Estimated Proceeds of Taxes $42,495,375* Less: Mandated Costs Computer Lease Payment Telephone System Lease Payment Estimated 1989 -90 Proceeds of Taxes *Page 15/1989 -90 Approved Budget Document $ 43,475 184,146 118.018 345.639 $42.149.736