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ITEM: |
CONSENT
CALENDAR |
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25. |
CONSIDER ADOPTION OF
RESOLUTION 2018-13 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2018-2019
APPROPRIATIONS LIMIT |
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Meeting
Date: |
June
18, 2018
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Budgeted:
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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 11, 2018 and recommended approval.
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CEQA Compliance: This action does not constitute a project
as defined by the California Environmental Quality Act Guidelines Section
15378. |
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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 25-A is Resolution 2018-13, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2018-2019. The resolution establishes an appropriations limit of $1,718,220 for fiscal year 2018-2019 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 $1,800,000 in property tax revenues during the fiscal year. After subtracting exempt appropriations of $1,887,500 from the estimated property tax revenues, the appropriations subject to the limit are $(87,500), 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 that the Board adopt Resolution 2018-13, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2018-2019 in the amount of $1,718,220.
25-A Resolution 2018-13
U:\staff\Boardpacket\2018\20180618\ConsentClndr\25\Item-25.docx