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ITEM: |
CONSENT
CALEDNAR |
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12. |
CONSIDER ADOPTION OF
RESOLUTION NO. 2025-02 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2025-2026
APPROPRIATIONS LIMIT |
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Meeting Date: |
May
19, 2025
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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: |
Nishil Bali |
Cost
Estimate: |
N/A |
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General Counsel Review:
N/A
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Committee Recommendation: The Finance & Administrative Committee
reviewed this item on May 12, 2025, 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 12-A is Resolution 2025-02 - A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2025-2026. The resolution establishes an appropriations limit of $2,379,866 for fiscal year 2025-2026 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 $3,000,000 in property tax revenues during the fiscal year. After subtracting exempt appropriations of $1,954,157 from the estimated property tax revenues, the appropriations subject to the limit are $1,045,843, which is under the appropriations limit calculated under the provisions of Article XIII (B), resulting in no estimated excess tax revenue.
RECOMMENDATION: The Finance and Administration Committee recommends the adoption of Resolution 2025-02, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2025-2026 in the amount of $2,379,866.
12-A Draft Resolution No. 2025-02 and Attachment 1
U:\staff\Boardpacket\2025\051925\Consent
Calendar\12\Item-12.docx