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ITEM: |
CONSENT
CALENDAR |
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16. |
CONSIDER ADOPTION OF RESOLUTION
2012-09_ ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2012-13 APPROPRIATIONS
LIMIT |
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Meeting
Date: |
June 12, 2012 |
Budgeted: |
N/A |
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From: |
David J.
Stoldt |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Suresh
Prasad |
Cost Estimate: |
N/A |
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General Counsel Review: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on June 4, 2012 and recommended approval. |
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CEQA Compliance: N/A |
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SUMMARY: Article XIII (B) of the California Constitution requires that an appropriations limit be calculated on an annual basis. Attached as Exhibit 16-A is Resolution 2012-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2012-13. The resolution establishes an appropriations limit of $1,350,255 for fiscal year 2012-13 as calculated on the Property Tax Appropriations Limit worksheet, which is Attachment 1 to the resolution. The worksheet also shows that District estimates that it will receive $1,403,000 in property tax revenues during that fiscal year. After subtracting exempt appropriations of $6,426,900 from the estimated property tax revenues, the appropriations subject to the limit are $(5,023,900), which is under the appropriations limit calculated under the provisions of Article XIII (B), resulting in estimated excess tax revenue of $0.00.
RECOMMENDATION: Staff recommends adoption of Resolution 2012-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2012-13 in the amount of $1,350,255. The Administrative Committee reviewed this item at its June 4, 2012 meeting and voted 2 to 0 to recommend approval.
16-A Resolution 2012-09
U:\staff\Boardpacket\2012\20120612\ConsentCal\16\item16.docx