|
ADMINISTRATIVE
COMMITTEE |
||||
|
|
||||
|
7. |
CONSIDER ADOPTION OF RESOLUTION
2016-11 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2016-2017 APPROPRIATIONS
LIMIT |
|||
|
|
||||
|
Meeting
Date: |
June 13, 2016 |
Budgeted: |
N/A |
|
|
|
||||
|
From: |
David J.
Stoldt |
Program/ |
N/A |
|
|
|
General
Manager |
Line Item No.: |
|
|
|
|
||||
|
Prepared
By: |
Suresh
Prasad |
Cost Estimate: |
N/A |
|
|
|
||||
General Counsel Review: N/A |
||||
Committee Recommendation: The Administrative Committee reviewed this item on June 13, 2016 and recommended _____________. |
||||
|
CEQA Compliance: N/A |
||||
SUMMARY: Article XIII (B) of the California Constitution requires that an appropriations limit be calculated on an annual basis. Attached as Exhibit 7-A is Resolution 2016-11, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2016-2017. The resolution establishes an appropriations limit of $1,586,660 for fiscal year 2016-2017 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 $1,600,000 in property tax revenues during that fiscal year. After subtracting exempt appropriations of $4,237,900 from the estimated property tax revenues, the appropriations subject to the limit are $(2,637,900), 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 2016-11, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2016-2017 in the amount of $1,586,660. The Administrative Committee reviewed this item at its June 13, 2016 meeting and voted _-_ to recommend __________.
7-A Resolution 2016-11
U:\staff\Board_Committees\Admin\2016\20160613\07\Item-7.docx