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ADMINISTRATIVE
COMMITTEE |
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18. |
CONSIDER ADOPTION OF RESOLUTION
2019-07 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2019-2020 APPROPRIATIONS
LIMIT |
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Meeting
Date: |
June 10, 2019 |
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 10, 2019 and recommended _____________. |
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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 18-A is Resolution 2019-07, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2019-2020. The resolution establishes an appropriations limit of $1,802,037 for fiscal year 2019-2020 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 $2,050,000 in property tax revenues during the fiscal year. After subtracting exempt appropriations of $3,401,900 from the estimated property tax revenues, the appropriations subject to the limit are $(1,351,900), 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 2019-07, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2019-2020 in the amount of $1,802,037. The Administrative Committee reviewed this item at its June 10, 2019 meeting and voted _-_ to recommend __________.
18-A Draft Resolution 2019-07
U:\staff\Board_Committees\Admin\2019\20190610\18\Item-18.docx