12. CONSIDER ADOPTION OF ARTICLE XIII (B) 2003-2004 FISCAL YEAR APPROPRIATIONS LIMIT
Meeting Date: June 16, 2003 Budgeted: N/A
Program Line Item No.: N/A
Staff Person: Rick Dickhaut Cost Estimate: N/A
General Counsel Approval: Yes
Committee Recommendation: The Administrative Committee reviewed this item on June 10, 2003 and recommended approval.
CEQA Compliance: N/A
SUMMARY: Article XIII (B) of the California Constitution limits the growth of appropriations for Fiscal Year (FY) 2003-2004 to $993,664 as reflected in the computations on Proposition 13 Worksheet (Attachment 1 of Exhibit 12-A). The FY 2003-2004 proposed budget assumes that the District will receive $980,000 in property tax revenues during fiscal year 2002-2004. This amount is less than the limit calculated under the provisions of Article XIII (B).
RECOMMENDATION: The Administrative Committee reviewed this item on June 10, 2003 and voted 2-0 to recommend approval. The resolution at Exhibit 12-A will be adopted if this item is approved along with the Consent Calendar.